Additional Balance Sheet and Cash Flow Information (Tables)

9 Months Ended

Sep. 30, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Marketable Securities

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

	September 30, 2018		December 31, 2017		September 24, 2017
Certificate of deposit	$	10,011	$	—	$	—
Mutual funds	49,832		48,006		45,726
Total marketable securities	$	59,843	$	48,006	$	45,726

Inventories Net

Inventories consisted of the following (in thousands):

	September 30, 2018			December 31, 2017			September 24, 2017
Raw materials and work in process	$	174,891		$	161,664		$	155,947
Motorcycle finished goods	251,794			289,530			232,141
Parts & accessories and general merchandise	141,918			139,363			129,270
Inventory at lower of FIFO cost or net realizable value	568,603			590,557			517,358
Excess of FIFO over LIFO cost	(52,356		)	(52,355		)	(48,267		)
Total inventories, net	$	516,247		$	538,202		$	469,091

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):

	Nine months ended
	September 30, 2018			September 24, 2017
Cash flows from operating activities:
Net income	$	530,956		$	513,445
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of intangibles	196,461			163,974
Amortization of deferred loan origination costs	61,213			62,052
Amortization of financing origination fees	6,207			6,112
Provision for long-term employee benefits	28,162			22,427
Employee benefit plan contributions and payments	(11,035		)	(43,060		)
Stock compensation expense	29,122			25,581
Net change in wholesale finance receivables related to sales	(18,400		)	36,678
Provision for credit losses	72,462			99,059
Deferred income taxes	1,457			(5,151		)
Other, net	29,340			(11,122		)
Changes in current assets and liabilities:
Accounts receivable, net	(14,784		)	(29,167		)
Finance receivables - accrued interest and other	1,374			317
Inventories	8,270			50,016
Accounts payable and accrued liabilities	183,606			88,758
Derivative instruments	1,227			2,752
Other	16,917			(33,596		)
Total adjustments	591,599			435,630
Net cash provided by operating activities	$	1,122,555		$	949,075