Supplemental Consolidating Data (Tables)

6 Months Ended

Jun. 28, 2015

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Operations

	Three months ended June 28, 2015
	Motorcycles & Related Products Operations		Financial Services Operations		Eliminations			Consolidated
Revenue:
Motorcycles and Related Products	$	1,653,759	$	—	$	(2,976	)	$	1,650,783
Financial Services	—		174,147		(538		)	173,609
Total revenue	1,653,759		174,147		(3,514		)	1,824,392
Costs and expenses:
Motorcycles and Related Products cost of goods sold	1,003,569		—		—			1,003,569
Financial Services interest expense	—		41,188		—			41,188
Financial Services provision for credit losses	—		15,175		—			15,175
Selling, administrative and engineering expense	267,149		38,309		(3,514		)	301,944
Total costs and expenses	1,270,718		94,672		(3,514		)	1,361,876
Operating income	383,041		79,475		—			462,516
Investment income	1,450		—		—			1,450
Interest expense	9		—		—			9
Income before provision for income taxes	384,482		79,475		—			463,957
Provision for income taxes	134,633		29,514		—			164,147
Net income	$	249,849	$	49,961	$	—		$	299,810
	Six months ended June 28, 2015
	Motorcycles & Related Products Operations		Financial Services Operations		Eliminations			Consolidated
Revenue:
Motorcycles and Related Products	$	3,166,641	$	—	$	(5,288	)	$	3,161,353
Financial Services	—		336,837		(853		)	335,984
Total revenue	3,166,641		336,837		(6,141		)	3,497,337
Costs and expenses:
Motorcycles and Related Products cost of goods sold	1,923,864		—		—			1,923,864
Financial Services interest expense	—		79,724		—			79,724
Financial Services provision for credit losses	—		41,422		—			41,422
Selling, administrative and engineering expense	512,284		73,550		(6,141		)	579,693
Total costs and expenses	2,436,148		194,696		(6,141		)	2,624,703
Operating income	730,493		142,141		—			872,634
Investment income	102,772		—		(100,000		)	2,772
Interest expense	18		—		—			18
Income before provision for income taxes	833,247		142,141		(100,000		)	875,388
Provision for income taxes	256,149		49,575		—			305,724
Net income	$	577,098	$	92,566	$	(100,000	)	$	569,664

	Three months ended June 29, 2014
	Motorcycles & Related Products Operations		Financial Services Operations		Eliminations			Consolidated
Revenue:
Motorcycles and Related Products	$	1,836,974	$	—	$	(2,689	)	$	1,834,285
Financial Services	—		166,963		(549		)	166,414
Total revenue	1,836,974		166,963		(3,238		)	2,000,699
Costs and expenses:
Motorcycles and Related Products cost of goods sold	1,110,146		—		—			1,110,146
Financial Services interest expense	—		40,741		—			40,741
Financial Services provision for credit losses	—		15,961		—			15,961
Selling, administrative and engineering expense	251,432		37,962		(3,238		)	286,156
Total costs and expenses	1,361,578		94,664		(3,238		)	1,453,004
Operating income	475,396		72,299		—			547,695
Investment income	1,772		—		—			1,772
Interest expense	393		—		—			393
Income before provision for income taxes	476,775		72,299		—			549,074
Provision for income taxes	168,303		26,618		—			194,921
Net income	$	308,472	$	45,681	$	—		$	354,153
	Six months ended June 29, 2014
	Motorcycles & Related Products Operations		Financial Services Operations		Eliminations			Consolidated
Revenue:
Motorcycles and Related Products	$	3,410,941	$	—	$	(4,968	)	$	3,405,973
Financial Services	—		321,649		(875		)	320,774
Total revenue	3,410,941		321,649		(5,843		)	3,726,747
Costs and expenses:
Motorcycles and Related Products cost of goods sold	2,089,703		—		—			2,089,703
Financial Services interest expense	—		79,598		—			79,598
Financial Services provision for credit losses	—		36,292		—			36,292
Selling, administrative and engineering expense	496,197		72,223		(5,843		)	562,577
Total costs and expenses	2,585,900		188,113		(5,843		)	2,768,170
Operating income	825,041		133,536		—			958,577
Investment income	123,431		—		(120,000		)	3,431
Interest expense	4,070		—		—			4,070
Income before provision for income taxes	944,402		133,536		(120,000		)	957,938
Provision for income taxes	288,876		48,992		—			337,868
Net income	$	655,526	$	84,544	$	(120,000	)	$	620,070

Balance Sheet

	June 28, 2015
	Motorcycles & Related Products Operations		Financial Services Operations		Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	828,289	$	419,290	$	—		$	1,247,579
Marketable securities	52,516		—		—			52,516
Accounts receivable, net	743,341		—		(465,772		)	277,569
Finance receivables, net	—		2,331,723		—			2,331,723
Inventories	395,044		—		—			395,044
Restricted cash	—		136,760		—			136,760
Deferred income taxes	51,667		43,111		—			94,778
Other current assets	126,856		40,441		(6,876		)	160,421
Total current assets	2,197,713		2,971,325		(472,648		)	4,696,390
Finance receivables, net	—		4,816,772		—			4,816,772
Property, plant and equipment, net	841,361		31,646		—			873,007
Goodwill	26,105		—		—			26,105
Deferred income taxes	57,587		10,861		(1,693		)	66,755
Other long-term assets	121,264		43,842		(79,263		)	85,843
	$	3,244,030	$	7,874,446	$	(553,604	)	$	10,564,872
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	306,335	$	567,073	$	(465,772	)	$	407,636
Accrued liabilities	369,467		87,839		(8,569		)	448,737
Short-term debt	—		114,983		—			114,983
Current portion of long-term debt	—		1,551,368		—			1,551,368
Total current liabilities	675,802		2,321,263		(474,341		)	2,522,724
Long-term debt	—		4,560,349		—			4,560,349
Pension liability	66,786		—		—			66,786
Postretirement healthcare benefits	196,369		—		—			196,369
Other long-term liabilities	168,043		26,974		—			195,017
Shareholders’ equity	2,137,030		965,860		(79,263		)	3,023,627
	$	3,244,030	$	7,874,446	$	(553,604	)	$	10,564,872

	December 31, 2014
	Motorcycles & Related Products Operations		Financial Services Operations		Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	573,895	$	332,785	$	—		$	906,680
Marketable securities	57,325		—		—			57,325
Accounts receivable, net	658,735		—		(411,114		)	247,621
Finance receivables, net	—		1,916,635		—			1,916,635
Inventories	448,871		—		—			448,871
Restricted cash	—		98,627		—			98,627
Deferred income taxes	50,015		39,901		—			89,916
Other current assets	142,278		43,125		(2,983		)	182,420
Total current assets	1,931,119		2,431,073		(414,097		)	3,948,095
Finance receivables, net	—		4,516,246		—			4,516,246
Property, plant and equipment, net	848,661		34,416		—			883,077
Goodwill	27,752		—		—			27,752
Deferred income taxes	75,121		4,863		(2,149		)	77,835
Other long-term assets	113,727		39,309		(77,944		)	75,092
	$	2,996,380	$	7,025,907	$	(494,190	)	$	9,528,097
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	171,098	$	436,884	$	(411,114	)	$	196,868
Accrued liabilities	370,652		83,797		(5,132		)	449,317
Short-term debt	—		731,786		—			731,786
Current portion of long-term debt	—		1,011,315		—			1,011,315
Total current liabilities	541,750		2,263,782		(416,246		)	2,389,286
Long-term debt	—		3,761,528		—			3,761,528
Pension liability	76,186		—		—			76,186
Postretirement healthcare benefits	203,006		—		—			203,006
Other long-term liabilities	164,060		24,745		—			188,805
Shareholders’ equity	2,011,378		975,852		(77,944		)	2,909,286
	$	2,996,380	$	7,025,907	$	(494,190	)	$	9,528,097

	June 29, 2014
	Motorcycles & Related Products Operations		Financial Services Operations		Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	635,705	$	363,641	$	—		$	999,346
Marketable securities	57,814		—		—			57,814
Accounts receivable, net	1,317,297		—		(1,027,357		)	289,940
Finance receivables, net	—		2,281,512		—			2,281,512
Inventories	371,597		—		—			371,597
Restricted cash	—		154,681		—			154,681
Deferred income taxes	52,348		38,000		—			90,348
Other current assets	95,429		33,031		—			128,460
Total current assets	2,530,190		2,870,865		(1,027,357		)	4,373,698
Finance receivables, net	—		4,537,405		—			4,537,405
Property, plant and equipment, net	792,642		33,825		—			826,467
Prepaid pension costs	256,279		—		—			256,279
Goodwill	30,252		—		—			30,252
Deferred income taxes	2,915		—		—			2,915
Other long-term assets	111,229		14,506		(76,455		)	49,280
	$	3,723,507	$	7,456,601	$	(1,103,812	)	$	10,076,296
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	316,707	$	1,098,992	$	(1,027,357	)	$	388,342
Accrued liabilities	423,312		79,205		(1,748		)	500,769
Short-term debt	—		619,622		—			619,622
Current portion of long-term debt	—		944,915		—			944,915
Total current liabilities	740,019		2,742,734		(1,029,105		)	2,453,648
Long-term debt	—		3,794,396		—			3,794,396
Pension liability	38,174		—		—			38,174
Postretirement healthcare liability	209,312		—		—			209,312
Deferred income taxes	35,597		1,574		1,748			38,919
Other long-term liabilities	152,862		22,725		—			175,587
Shareholders’ equity	2,547,543		895,172		(76,455		)	3,366,260
	$	3,723,507	$	7,456,601	$	(1,103,812	)	$	10,076,296

Cash Flows

	Six months ended June 28, 2015
	Motorcycles & Related Products Operations			Financial Services Operations			Eliminations & Adjustments			Consolidated
Cash flows from operating activities:
Net income	$	577,098		$	92,566		$	(100,000	)	$	569,664
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation	88,996			4,644			—			93,640
Amortization of deferred loan origination costs	—			47,524			—			47,524
Amortization of financing origination fees	—			4,820			—			4,820
Provision for employee long-term benefits	24,635			—			—			24,635
Contributions to pension and postretirement plans	(12,725		)	—			—			(12,725		)
Stock compensation expense	15,415			1,319			—			16,734
Net change in wholesale finance receivables related to sales	—			—			(418,969		)	(418,969		)
Provision for credit losses	—			41,422			—			41,422
Deferred income taxes	5,832			(7,027		)	—			(1,195		)
Foreign currency adjustments	11,041			—			—			11,041
Other, net	(2,671		)	707			—			(1,964		)
Change in current assets and current liabilities:
Accounts receivable	(347,967		)	—			304,658			(43,309		)
Finance receivables—accrued interest and other	—			(270		)	—			(270		)
Inventories	38,012			—			—			38,012
Accounts payable and accrued liabilities	144,784			385,999			(298,426		)	232,357
Derivative instruments	1,185			—			—			1,185
Other	9,625			1,717			—			11,342
Total adjustments	(23,838		)	480,855			(412,737		)	44,280
Net cash provided by operating activities	553,260			573,421			(512,737		)	613,944

	Six months ended June 28, 2015
	Motorcycles & Related Products Operations			Financial Services Operations			Eliminations & Adjustments			Consolidated
Cash flows from investing activities:
Capital expenditures	(83,282		)	(1,898		)	—			(85,180		)
Origination of finance receivables	—			(4,526,313		)	2,549,750			(1,976,563		)
Collections of finance receivables	—			3,707,444			(2,137,013		)	1,570,431
Sales and redemptions of marketable securities	4,500			—			—			4,500
Other	5,111			—			—			5,111
Net cash used by investing activities	(73,671		)	(820,767		)	412,737			(481,701		)
Cash flows from financing activities:
Proceeds from issuance of medium-term notes	—			595,386			—			595,386
Intercompany borrowing activity	250,000			(250,000		)	—			—
Proceeds from securitization debt	—			1,195,668			—			1,195,668
Repayments of securitization debt	—			(454,332		)	—			(454,332		)
Net decrease in credit facilities and unsecured commercial paper	—			(616,586		)	—			(616,586		)
Borrowings of asset-backed commercial paper	—			40,209			—			40,209
Repayments of asset-backed commercial paper	—			(35,730		)	—			(35,730		)
Net change in restricted cash	—			(40,159		)	—			(40,159		)
Dividends paid	(129,745		)	(100,000		)	100,000			(129,745		)
Purchase of common stock for treasury	(358,425		)	—			—			(358,425		)
Excess tax benefits from share-based payments	2,401			—			—			2,401
Issuance of common stock under employee stock option plans	15,664			—			—			15,664
Net cash (used by) provided by financing activities	(220,105		)	334,456			100,000			214,351
Effect of exchange rate changes on cash and cash equivalents	(5,090		)	(605		)	—			(5,695		)
Net increase in cash and cash equivalents	$	254,394		$	86,505		$	—		$	340,899
Cash and cash equivalents:
Cash and cash equivalents—beginning of period	$	573,895		$	332,785		$	—		$	906,680
Net increase in cash and cash equivalents	254,394			86,505			—			340,899
Cash and cash equivalents—end of period	$	828,289		$	419,290		$	—		$	1,247,579

	Six months ended June 29, 2014
	Motorcycles & Related Products Operations			Financial Services Operations			Eliminations & Adjustments			Consolidated
Cash flows from operating activities:
Net income	$	655,526		$	84,544		$	(120,000	)	$	620,070
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation	83,348			3,775			—			87,123
Amortization of deferred loan origination costs	—			45,713						45,713
Amortization of financing origination fees	59			4,225			—			4,284
Provision for employee long-term benefits	16,854			—			—			16,854
Contributions to pension and postretirement plans	(14,035		)	—			—			(14,035		)
Stock compensation expense	19,393			1,375			—			20,768
Net change in wholesale finance receivables related to sales	—			—			(510,200		)	(510,200		)
Provision for credit losses	—			36,292			—			36,292
Loss on extinguishment of debt	—			1,145			—			1,145
Deferred income taxes	(3,894		)	—			—			(3,894		)
Foreign currency adjustments	939			(6,023		)	—			(5,084		)
Other, net	4,712			4,620			—			9,332
Change in current assets and current liabilities:
Accounts receivable	(363,817		)	—			338,174			(25,643		)
Finance receivables—accrued interest and other	—			(993		)	—			(993		)
Inventories	58,741			—			—			58,741
Accounts payable and accrued liabilities	189,117			375,290			(338,174		)	226,233
Derivative instruments	968			—			—			968
Other	4,962			(2,044		)	—			2,918
Total adjustments	(2,653		)	463,375			(510,200		)	(49,478		)
Net cash provided by operating activities	652,873			547,919			(630,200		)	570,592

	Six months ended June 29, 2014
	Motorcycles & Related Products Operations			Financial Services Operations			Eliminations & Adjustments			Consolidated
Cash flows from investing activities:
Capital expenditures	(71,395		)	(3,128		)	—			(74,523		)
Origination of finance receivables	—			(4,580,910		)	2,676,333			(1,904,577		)
Collections of finance receivables	—			3,684,319			(2,166,133		)	1,518,186
Sales and redemptions of marketable securities	41,010			—			—			41,010
Other	145			—			—			145
Net cash used by investing activities	(30,240		)	(899,719		)	510,200			(419,759		)
Cash flows from financing activities:
Repayments of senior unsecured notes	(303,000		)	—			—			(303,000		)
Repayments of medium-term notes	—			(7,220		)	—			(7,220		)
Intercompany borrowing activity	(100,000		)	100,000			—			—
Proceeds from securitization debt	—			847,126			—			847,126
Repayments of securitization debt	—			(393,655		)	—			(393,655		)
Net decrease in credit facilities and unsecured commercial paper	—			(48,134		)	—			(48,134		)
Borrowings of asset-backed commercial paper	—			36,800			—			36,800
Repayments of asset-backed commercial paper	—			(37,317		)	—			(37,317		)
Net change in restricted cash	—			(9,874		)	—			(9,874		)
Dividends paid	(120,631		)	(120,000		)	120,000			(120,631		)
Purchase of common stock for treasury	(223,736		)	—			—			(223,736		)
Excess tax benefits from share-based payments	8,652			—			—			8,652
Issuance of common stock under employee stock option plans	27,907			—			—			27,907
Net cash (used by) provided by financing activities	(710,808		)	367,726			120,000			(223,082		)
Effect of exchange rate changes on cash and cash equivalents	4,968			15			—			4,983
Net (decrease) increase in cash and cash equivalents	$	(83,207	)	$	15,941		$	—		$	(67,266	)
Cash and cash equivalents:
Cash and cash equivalents—beginning of period	$	718,912		$	347,700		$	—		$	1,066,612
Net (decrease) increase in cash and cash equivalents	(83,207		)	15,941			—			(67,266		)
Cash and cash equivalents—end of period	$	635,705		$	363,641		$	—		$	999,346