| INTANGIBLE ASSETS AND GOODWILL |
INTANGIBLE ASSETS AND GOODWILL The components of Amortizable intangible assets are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | July 31, 2026 | | July 31, 2025 | | | | Cost | | Accumulated Amortization | | Cost | | Accumulated Amortization | | Dealer networks/customer relationships | | | $ | 1,143,650 | | | $ | 763,346 | | | $ | 1,126,554 | | | $ | 696,064 | | | Trademarks | | | 364,127 | | | 155,258 | | | 360,291 | | | 135,063 | | | Design/developed technology and other intangibles | | | 286,272 | | | 190,951 | | | 268,148 | | | 165,108 | | | | | | | | | | | | | | | | | | | | | | | Total amortizable intangible assets | | | $ | 1,794,049 | | | $ | 1,109,555 | | | $ | 1,754,993 | | | $ | 996,235 | |
Estimated annual amortization expense is as follows:
| | | | | | | For the fiscal year ending July 31, 2027 | $ | 112,394 | | | For the fiscal year ending July 31, 2028 | 102,839 | | | For the fiscal year ending July 31, 2029 | 79,721 | | | For the fiscal year ending July 31, 2030 | 64,072 | | | For the fiscal year ending July 31, 2031 | 58,963 | | | For the fiscal year ending July 31, 2032 and thereafter | 266,505 | | | $ | 684,494 | |
The Company completed its annual Goodwill impairment test for fiscal 2026 as of May 31, 2026, and no impairment was identified. There were no impairments of goodwill during fiscal 2025 or 2024.
Changes in the carrying amount of Goodwill by reportable segment as of July 31, 2026 and July 31, 2025 are summarized as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | North American Towable | | North American Motorized | | European | | Other | | Total | Net balance as of July 31, 2024 | | $ | 337,883 | | | $ | 65,064 | | | $ | 948,674 | | | $ | 435,352 | | | $ | 1,786,973 | | Fiscal year 2025 activity: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Foreign currency translation and other | | — | | | — | | | 54,145 | | | — | | | 54,145 | | | | | | | | | | | | | | | | | | | | | | | | Net balance as of July 31, 2025 | | $ | 337,883 | | | $ | 65,064 | | | $ | 1,002,819 | | | $ | 435,352 | | | $ | 1,841,118 | | Fiscal year 2026 activity: | | | | | | | | | | | | Goodwill acquired | | — | | | — | | | — | | | 71,490 | | | 71,490 | | | Measurement period adjustments | | — | | | — | | | — | | | 306 | | | 306 | | | Foreign currency translation and other | | — | | | — | | | 3,416 | | | — | | | 3,416 | | | | | | | | | | | | | | | | | | | | | | | | Net balance as of July 31, 2026 | | $ | 337,883 | | | $ | 65,064 | | | $ | 1,006,235 | | | $ | 507,148 | | | $ | 1,916,330 | |
The goodwill acquired in fiscal year 2026 primarily related to the equity investment transaction described in Note 7 to the Consolidated Financial Statements. The components of the goodwill balances by reportable segment as of July 31, 2026 and July 31, 2025 are summarized as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | North American Towable | | North American Motorized | | European | | Other | | Total | | Goodwill | | $ | 348,032 | | | $ | 82,316 | | | $ | 1,006,235 | | | $ | 507,148 | | | $ | 1,943,731 | | | Accumulated impairment charges | | (10,149) | | | (17,252) | | | — | | | — | | | (27,401) | | Net balance as of July 31, 2026 | | $ | 337,883 | | | $ | 65,064 | | | $ | 1,006,235 | | | $ | 507,148 | | | $ | 1,916,330 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | North American Towable | | North American Motorized | | European | | Other | | Total | | Goodwill | | $ | 348,032 | | | $ | 82,316 | | | $ | 1,002,819 | | | $ | 435,352 | | | $ | 1,868,519 | | | Accumulated impairment charges | | (10,149) | | | (17,252) | | | — | | | — | | | (27,401) | | Net balance as of July 31, 2025 | | $ | 337,883 | | | $ | 65,064 | | | $ | 1,002,819 | | | $ | 435,352 | | | $ | 1,841,118 | |
|