Additional Balance Sheet And Cash Flow Information (Tables)

12 Months Ended

Dec. 31, 2014

Inventories, net (in thousands):



	2014			2013
Components at the lower of FIFO cost or market
Raw materials and work in process	$	151,254		$	140,302
Motorcycle finished goods	230,309			205,416
Parts and accessories and general merchandise	117,210			127,515
Inventory at lower of FIFO cost or market	498,773			473,233
Excess of FIFO over LIFO cost	(49,902		)	(48,726		)
Total inventories, net	$	448,871		$	424,507

Property, plant and equipment, at cost (in thousands):



	2014			2013
Land and related improvements	$	55,238		$	56,146
Buildings and related improvements	475,268			424,431
Machinery and equipment	1,823,790			1,816,599
Software	440,703			337,210
Construction in progress	200,708			168,598
	2,995,707			2,802,984
Accumulated depreciation	(2,112,630		)	(1,960,507		)
Total property, plant and equipment, at cost	$	883,077		$	842,477

Accrued liabilities (in thousands):



	2014		2013
Payroll, employee benefits and related expenses	$	165,448	$	166,346
Restructuring reserves	—		2,181
Warranty and recalls	48,529		46,571
Sales incentive programs	44,423		42,541
Tax-related accruals	28,333		21,970
Fair value of derivative financial instruments	2,027		3,925
Other	160,557		143,801
Total accrued liabilities	$	449,317	$	427,335

The reconciliation of net income to net cash provided by operating activities of continuing operations is as follows (in thousands):



	2014			2013			2012
Cash flows from operating activities:
Net income	$	844,611		$	733,993		$	623,925
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	179,300			167,072			168,978
Amortization of deferred loan origination costs	94,429			86,181			78,592
Amortization of financing origination fees	8,442			9,376			9,969
Provision for employee long-term benefits	33,709			66,877			71,347
Contributions to pension and postretirement plans	(29,686		)	(204,796		)	(244,416		)
Stock compensation expense	37,929			41,244			40,815
Net change in wholesale finance receivables related to sales	(75,210		)	28,865			2,513
Provision for credit losses	80,946			60,008			22,239
Loss on debt extinguishment	3,942			4,947			4,323
Pension and postretirement healthcare plan curtailment and settlement expense	—			—			6,242
Deferred income taxes	(7,621		)	52,580			128,452
Foreign currency adjustments	21,964			16,269			9,773
Other, net	(1,491		)	10,123			(7,216		)
Changes in current assets and liabilities:
Accounts receivable, net	(9,809		)	(36,653		)	(13,690		)
Finance receivables – accrued interest and other	(2,515		)	(346		)	(4		)
Inventories	(50,886		)	(46,474		)	21,459
Accounts payable and accrued liabilities	19,128			(53,623		)	(10,798		)
Restructuring reserves	2,181			(25,042		)	(16,087		)
Derivative instruments	703			(2,189		)	2,758
Prepaid and other	(3,389		)	68,681			(97,716		)
Total adjustments	302,066			243,100			177,533
Net cash provided by operating activities	$	1,146,677		$	977,093		$	801,458

Cash paid during the period for interest and income taxes (in thousands):