Asset-Backed Financing (Tables)

12 Months Ended

Dec. 31, 2017

Transfers and Servicing [Abstract]

Schedule Of Assets And Liabilities Of Variable Interest Entities

The following table shows the assets and liabilities related to the on-balance sheet asset-backed financings included in the financial statements at December 31 (in thousands):

	2017
	Finance receivables		Allowance for credit losses			Restricted cash		Other assets		Total assets		Asset-backed debt
On-balance sheet assets and liabilities
Consolidated VIEs
Asset-backed securitizations	$	439,301	$	(13,686	)	$	34,919	$	1,260	$	461,794	$	352,624
Asset-backed U.S. commercial paper conduit facilities	300,530		(9,392		)	13,787		888		305,813		279,457
Unconsolidated VIEs
Asset-backed Canadian commercial paper conduit facility	203,691		(3,746		)	9,983		470		210,398		174,779
Total on-balance sheet assets and liabilities	$	943,522	$	(26,824	)	$	58,689	$	2,618	$	978,005	$	806,860
	2016
	Finance receivables		Allowance for credit losses			Restricted cash		Other assets		Total assets		Asset-backed debt
On-balance sheet assets and liabilities
Consolidated VIEs
Asset-backed securitizations	$	893,804	$	(25,468	)	$	57,057	$	2,452	$	927,845	$	796,275
Asset-backed U.S. commercial paper conduit facilities	—		—			—		329		329		—
Unconsolidated VIEs
Asset-backed Canadian commercial paper conduit facility	165,719		(3,573		)	10,090		426		172,662		149,338
Total on-balance sheet assets and liabilities	$	1,059,523	$	(29,041	)	$	67,147	$	3,207	$	1,100,836	$	945,613

Schedule Of Secured Notes With Related Maturity

Debt with a contractual term greater than one year is generally classified as long-term debt and consisted of the following as of December 31 (in thousands):

	2017			2016
Secured debt (Note 10)
Asset-backed Canadian commercial paper conduit facility	$	174,779		$	149,338
Asset-backed U.S. commercial paper conduit facilities	279,457			—
Asset-backed securitization debt	353,085			797,755
Less: unamortized discount and debt issuance costs	(461		)	(1,480		)
Total secured debt	806,860			945,613
Unsecured notes (at par value)
2.70% Medium-term notes due in 2017, issued January 2012	—			400,000
1.55% Medium-term notes due in 2017, issued November 2014	—			400,000
6.80% Medium-term notes due in 2018, issued May 2008	877,488			877,488
2.25% Medium-term notes due in 2019, issued January 2016	600,000			600,000
Floating-rate Medium-term notes due in 2019, issued March 2017(a)	150,000			—
2.40% Medium-term notes due in 2019, issued September 2014	600,000			600,000
2.15% Medium-term notes due in 2020, issued February 2015	600,000			600,000
2.40% Medium-term notes due in 2020, issued March 2017	350,000			—
2.85% Medium-term notes due in 2021, issued January 2016	600,000			600,000
2.55% Medium-term notes due in 2022, issued June 2017	400,000			—
3.50% Senior unsecured notes due in 2025, issued July 2015	450,000			450,000
4.625% Senior unsecured notes due in 2045, issued July 2015	300,000			300,000
Less: unamortized discount and debt issuance costs	(19,821		)	(21,242		)
Gross long-term debt	5,714,527			5,751,859
Less: current portion of long-term debt, net of unamortized discount and issuance costs	(1,127,269		)	(1,084,884		)
Total long-term debt	$	4,587,258		$	4,666,975

At December 31, 2017, the Company's consolidated balance sheet included outstanding balances related to the following secured notes with the related maturity dates and interest rates (in thousands):

Issue Date	Principal Amount at Date of Issuance	Weighted-Average Rate at Date of Issuance	Contractual Maturity Date
May 2015	$500,000	0.88%	May 2016 - December 2022
January 2015	$700,000	0.89%	February 2016 - August 2022
April 2014	$850,000	0.66%	April 2015 - October 2021

In addition, outstanding balances related to the following secured notes included in the Company's consolidated balance sheet at December 31, 2016 were repaid during 2017 (in thousands):

Issue Date	Principal Amount at Date of Issuance	Weighted-Average Rate at Date of Issuance	Contractual Maturity Date
April 2013	$650,000	0.57%	May 2014 - December 2020

Schedule of Unpaid Principal Balance of Serviced Retail Motorcycle Finance Receivables

The unpaid principal balance of serviced retail motorcycle finance receivables at December 31 was as follows (in thousands):

	2017		2016
On-balance sheet retail motorcycle finance receivables	$	5,993,185	$	5,839,467
Off-balance sheet retail motorcycle finance receivables	146,425		236,706
Total serviced retail motorcycle finance receivables	$	6,139,610	$	6,076,173

The balance of serviced finance receivables 30 days or more delinquent at December 31 was as follows (in thousands):

	Amount 30 days or more past due:
	2017		2016
On-balance sheet retail motorcycle finance receivables	$	227,127	$	221,393
Off-balance sheet retail motorcycle finance receivables	2,106		1,858
Total serviced retail motorcycle finance receivables	$	229,233	$	223,251

Credit losses, net of recoveries for the serviced finance receivables for the years ended December 31 were as follows (in thousands):

	2017		2016
On-balance sheet retail motorcycle finance receivables	$	113,316	$	107,161
Off-balance sheet retail motorcycle finance receivables	1,191		820
Total serviced retail motorcycle finance receivables	$	114,507	$	107,981