Additional Balance Sheet and Cash Flow Information (Tables)

6 Months Ended

Jun. 30, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Marketable Securities

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

	June 30, 2019		December 31, 2018		July 1, 2018
Debt securities	$	—	$	10,007	$	—
Mutual funds	51,543		44,243		49,537
Total marketable securities	$	51,543	$	54,250	$	49,537

Inventories, Net

Inventories consisted of the following (in thousands):

	June 30, 2019			December 31, 2018			July 1, 2018
Raw materials and work in process	$	161,828		$	177,110		$	154,921
Motorcycle finished goods	218,069			301,630			222,711
Parts & accessories and general merchandise	149,352			136,027			140,096
Inventory at lower of FIFO cost or net realizable value	529,249			614,767			517,728
Excess of FIFO over LIFO cost	(58,639		)	(58,639		)	(52,355		)
Total inventories, net	$	470,610		$	556,128		$	465,373

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 30, 2019			July 1, 2018
Cash flows from operating activities:
Net income	$	323,576		$	417,101
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of intangibles	125,386			130,061
Amortization of deferred loan origination costs	38,036			39,396
Amortization of financing origination fees	4,522			4,133
Provision for long-term employee benefits	6,936			18,954
Employee benefit plan contributions and payments	(3,637		)	(6,422		)
Stock compensation expense	17,285			19,081
Net change in wholesale finance receivables related to sales	(167,594		)	(171,195		)
Provision for credit losses	60,874			48,932
Deferred income taxes	5,368			1,515
Other, net	(10,477		)	20,894
Changes in current assets and liabilities:
Accounts receivable, net	(17,592		)	(14,882		)
Finance receivables - accrued interest and other	(4,963		)	4,228
Inventories	88,146			63,957
Accounts payable and accrued liabilities	34,370			161,101
Derivative instruments	4,352			(136		)
Other	(8,356		)	(859		)
Total adjustments	172,656			318,758
Net cash provided by operating activities	$	496,232		$	735,859