Additional Balance Sheet and Cash Flow Information (Tables)

3 Months Ended

Mar. 27, 2016

Supplemental Cash Flow Information [Abstract]

Marketable Securities

The Company’s marketable securities consisted of the following (in thousands):

	March 27, 2016		December 31, 2015		March 29, 2015
Available-for-sale: Corporate bonds	$	45,122	$	45,192	$	57,219
Trading securities: Mutual funds	38,567		36,256		37,667
	$	83,689	$	81,448	$	94,886

Inventories Net

Inventories consist of the following (in thousands):

	March 27, 2016			December 31, 2015			March 29, 2015
Components at the lower of FIFO cost or market
Raw materials and work in process	$	158,632		$	161,704		$	153,734
Motorcycle finished goods	291,834			327,952			253,922
Parts and accessories and general merchandise	152,552			145,519			123,187
Inventory at lower of FIFO cost or market	603,018			635,175			530,843
Excess of FIFO over LIFO cost	(49,268		)	(49,268		)	(49,902		)
	$	553,750		$	585,907		$	480,941

Reconciliation Of Net Income To Net Cash Used By Operating Activities

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

	Three months ended
	March 27, 2016			March 29, 2015
Cash flows from operating activities:
Net income	$	250,489		$	269,854
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of intangibles	50,027			46,028
Amortization of deferred loan origination costs	21,546			22,932
Amortization of financing origination fees	2,802			2,215
Provision for employee long-term benefits	9,203			12,318
Contributions to pension and postretirement plan payments	(29,641		)	(6,627		)
Stock compensation expense	7,053			8,046
Net change in wholesale finance receivables related to sales	(507,731		)	(465,598		)
Provision for credit losses	37,123			26,247
Pension and postretirement healthcare plan curtailment and settlement expense	300			—
Deferred income taxes	3,636			2,820
Foreign currency adjustments	(5,873		)	18,154
Other, net	(1,429		)	(2,507		)
Changes in current assets and liabilities:
Accounts receivable, net	(57,885		)	(49,936		)
Finance receivables—accrued interest and other	685			2,067
Inventories	40,539			(51,934		)
Accounts payable and accrued liabilities	222,800			305,102
Derivative instruments	1,196			399
Other	(3,709		)	35,120
Total adjustments	(209,358		)	(95,154		)
Net cash provided by operating activities	$	41,131		$	174,700