Derivative Financial Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instrument Fair Value

The notional and recorded fair values of the Company's derivative financial instruments under ASC Topic 815, at December 31, were as follows (in thousands):

	Derivative Financial Instruments Designated as Cash Flow Hedging Instruments
	2019						2018
	Notional Value		Other Current Assets		Accrued Liabilities		Notional Value		Other Current Assets		Accrued Liabilities
Foreign currency contracts	$	434,321	$	3,505	$	3,661	$	442,976	$	15,071	$	313
Commodity contracts	616		—		80		827		—		46
Cross-currency swap	660,780		8,326		—		—		—		—
Interest rate swaps	900,000		—		9,181		900,000		—		4,494
	$	1,995,717	$	11,831	$	12,922	$	1,343,803	$	15,071	$	4,853
	Derivative Financial Instruments Not Designated as Hedging Instruments
	2019						2018
	Notional Value		Other Current Assets		Accrued Liabilities		Notional Value		Other Current Assets		Accrued Liabilities
Foreign currency contracts	$	220,139	$	721	$	865	$	—	$	—	$	—
Commodity contracts	8,270		95		147		5,239		—		463
Interest rate cap	375,980		2		—		—		—		—
	$	604,389	$	818	$	1,012	$	5,239	$	—	$	463

 

Gain/(Loss) on Derivative Cash Flow Hedges Reclassified From AOCI Into Income

The amount of gains and losses related to derivative financial instruments designated as cash flow hedges for the years ended December 31, were as follows (in thousands): 

	Gain/(Loss) Recognized in OCI									Gain/(Loss) Reclassified from AOCL into Income
	2019			2018			2017			2019			2018			2017
Foreign currency contracts	$	8,235		$	41,657		$	(53,964	)	$	21,433		$	11,492		$	(7,202	)
Commodity contracts	(103		)	34			(246		)	(70		)	24			—
Cross-currency swap	8,326			—			—			12,156			—			—
Treasury rate locks	—			41			(719		)	(492		)	(498		)	(442		)
Interest rate swaps	(9,981		)	(6,046		)	—			(5,295		)	(1,552		)	—
	$	6,477		$	35,686		$	(54,929	)	$	27,732		$	9,466		$	(7,644	)

The location and amount of gains and losses recognized in income related to derivative financial instruments designated as cash flow hedges for the years ended December 31, were as follows (in thousands):

	Motorcycles cost of goods sold			Selling, administrative & engineering expense		Interest expense			Financial Services interest expense
	2019
Line item on the Consolidated statements of income in which the effects of cash flow hedges are recorded	$	3,229,798		$	1,199,056	$	31,078		$	210,438
Gain/(loss) reclassified from AOCL into income:
Foreign currency contracts	$	21,433		$	—	$	—		$	—
Commodity contracts	$	(70	)	$	—	$	—		$	—
Cross-currency swap	$	—		$	12,156	$	—		$	—
Treasury rate locks	$	—		$	—	$	(362	)	$	(130	)
Interest rate swaps	$	—		$	—	$	—		$	(5,295	)
	2018
Line item on the Consolidated statements of income in which the effects of cash flow hedges are recorded	$	3,351,796		$	1,258,098	$	30,884		$	193,187
Gain/(loss) reclassified from AOCL into income:
Foreign currency contracts	$	11,492		$	—	$	—		$	—
Commodity contracts	$	24		$	—	$	—		$	—
Treasury rate locks	$	—		$	—	$	(362	)	$	(136	)
Interest rate swaps	$	—		$	—	$	—		$	(1,552	)
	2017
Line item on the Consolidated statements of income in which the effects of cash flow hedges are recorded	$	3,272,330		$	1,180,176	$	31,004		$	180,193
Gain/(loss) reclassified from AOCL into income:
Foreign currency contracts	$	(7,202	)	$	—	$	—		$	—
Treasury rate locks	$	—		$	—	$	(362	)	$	(80	)

 

Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location

	Amount of Gain/(Loss) Recognized in Income
	2019			2018			2017
Foreign currency contracts	$	191		$	—		$	—
Commodity contracts	17			(430		)	503
Interest rate cap	(143		)	—			—
	$	65		$	(430	)	$	503