Additional Balance Sheet and Cash Flow Information (Tables)

6 Months Ended

Jun. 26, 2016

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Marketable Securities

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

	June 26, 2016		December 31, 2015		June 28, 2015
Available-for-sale: Corporate bonds	$	5,070	$	45,192	$	52,516
Trading securities: Mutual funds	37,651		36,256		37,698
	$	42,721	$	81,448	$	90,214

Inventories Net

Inventories consist of the following (in thousands):

	June 26, 2016			December 31, 2015			June 28, 2015
Components at the lower of FIFO cost or market
Raw materials and work in process	$	134,702		$	161,704		$	137,151
Motorcycle finished goods	152,035			327,952			186,326
Parts and accessories and general merchandise	133,727			145,519			121,469
Inventory at lower of FIFO cost or market	420,464			635,175			444,946
Excess of FIFO over LIFO cost	(49,268		)	(49,268		)	(49,902		)
	$	371,196		$	585,907		$	395,044

Reconciliation of Net Cash Provided by Operating Activities

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

	Six months ended
	June 26, 2016			June 28, 2015
Cash flows from operating activities:
Net income	$	530,920		$	569,664
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of intangibles	100,956			93,640
Amortization of deferred loan origination costs	43,555			47,524
Amortization of financing origination fees	5,146			4,820
Provision for employee long-term benefits	18,405			24,635
Employee benefit plan contributions and payments	(35,189		)	(12,725		)
Stock compensation expense	15,797			16,734
Net change in wholesale finance receivables related to sales	(442,254		)	(418,969		)
Provision for credit losses	60,584			41,422
Gain on off-balance sheet securitization	(9,269		)	—
Pension plan settlement expense	600			—
Deferred income taxes	(3,548		)	(1,195		)
Foreign currency adjustments	(7,966		)	11,041
Other, net	(12,542		)	(1,964		)
Changes in current assets and liabilities:
Accounts receivable, net	(55,109		)	(43,309		)
Finance receivables—accrued interest and other	(125		)	(270		)
Inventories	225,586			38,012
Accounts payable and accrued liabilities	53,790			232,357
Derivative instruments	(1,474		)	1,185
Other	(31,573		)	11,342
Total adjustments	(74,630		)	44,280
Net cash provided by operating activities	$	456,290		$	613,944