Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2018

New Accounting Pronouncements or Change in Accounting Principle

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

The following tables illustrate the impact of adoption of ASU 2014-09 on the consolidated statement of income and the consolidated balance sheet (in thousands):

Consolidated Statement of Income

	Twelve months ended December 31, 2018
	As Reported		Without Adoption of ASC 606		Effect of Change
Revenue:
Motorcycles and Related Products	$	4,968,646	$	4,969,948	$	(1,302	)
Costs and expenses:
Motorcycles and Related Products cost of goods sold	$	3,351,796	$	3,348,779	$	3,017
Operating income	$	713,523	$	717,842	$	(4,319	)
Income before provision for income taxes	$	686,629	$	690,948	$	(4,319	)
Provision for income taxes	$	155,178	$	156,225	$	(1,047	)
Net income	$	531,451	$	534,723	$	(3,272	)

Consolidated Balance Sheet

	December 31, 2018
	As Reported		Without Adoption of ASC 606		Effect of Change
ASSETS
Other current assets	$	144,368	$	163,841	$	(19,473	)
Deferred income taxes	$	141,464	$	143,312	$	(1,848	)
LIABILITIES AND SHAREHOLDERS' EQUITY
Accrued liabilities	$	601,130	$	625,203	$	(24,073	)
Retained earnings	$	2,007,583	$	2,004,831	$	2,752

Marketable Securities

Marketable Securities – The Company’s marketable securities consisted of the following at December 31 (in thousands):

	2018		2017
Certificate of deposit	$	10,007	$	—
Mutual funds	44,243		48,006
Total marketable securities	$	54,250	$	48,006

Changes In Warranty And Safety Recall Liability

Changes in the Company’s warranty and recall liability were as follows (in thousands):

	2018			2017			2016
Balance, beginning of period	$	94,200		$	79,482		$	74,217
Warranties issued during the period	53,367			57,834			60,215
Settlements made during the period	(79,300		)	(82,554		)	(99,298		)
Recalls and changes to pre-existing warranty liabilities	63,473			39,438			44,348
Balance, end of period	$	131,740		$	94,200		$	79,482