THOR INDUSTRIES INC
For the period ended Dec 17, 2025. Filed Nov 3, 2025.
View on SEC.govAbout this filing
What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.
Dec 17, 2025 · Filed Nov 3, 2025
Contents
APPENDIX A
Reconciliation Of Non-GAAP Financial Measures
“Company Adjusted NBT”
In Fiscal Years 2021, 2022, 2023, 2024 and 2025, the Company evaluated its NEOs, paid MIP to its NEOs, and awarded RSUs to its NEOs based upon Company Adjusted NBT, which is a non-GAAP measure. The Company defines “Company Adjusted NBT” as its consolidated income before income tax and then makes adjustments to exclude gains/losses as a result of non-forecasted major acquisitions, LIFO, non-controlling interests, impairments, and certain foreign currency exchange gains/losses. Company Adjusted NBT is not calculated in accordance with, nor is it a substitute for, GAAP measures. A reconciliation of Company Adjusted NBT to income before income taxes, the most directly comparable financial measure calculated and presented in accordance with GAAP, is provided below:
| ($ in thousands) | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Income Before Income Taxes (GAAP) | $296,191 | $348,844 | $499,353 | $1,459,864 | $844,581 |
| Adjustment: Non-Forecasted Major Acquisition Effects | — | — | — | — | ($8,755) |
| Adjustment: Impairments | — | — | — | — | — |
| Adjustment: Foreign Currency Exchange Gains/(Losses) | $5,134 | $739 | ($6,487) | ($6,502) | — |
| Adjustment: Non-Controlling Interest Gains/(Losses) | $2,733 | ($129) | $44 | ($609) | ($1,386) |
| Adjustment: LIFO Gains/(Losses) | $702 | ($14,494) | $25,153 | $59,212 | — |
| COMPANY ADJUSTED NBT | $304,760 | $334,960 | $518,063 | $1,511,965 | $834,440 |
NOTICE OF 2025 ANNUAL MEETING AND PROXY STATEMENT | 71
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.