Asset-Backed Financing (Tables)

3 Months Ended

Mar. 29, 2020

Transfers and Servicing [Abstract]

Assets and Liabilities Related to the On-Balance Sheet Financing

The assets and liabilities related to the on-balance sheet asset-backed financings included in the Consolidated balance sheets were as follows (in thousands):

	March 29, 2020
	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	$	1,250,382	$	(62,159)	$	61,945	$	852	$	1,251,020	$	1,156,845
Asset-backed U.S. commercial paper conduit facilities	662,385		(32,872)		37,290		1,410		668,213		600,000
Unconsolidated VIEs:
Asset-backed Canadian commercial paper conduit facility	207,538		(6,671)		10,552		148		211,567		155,243
	$	2,120,305	$	(101,702)	$	109,787	$	2,410	$	2,130,800	$	1,912,088
	December 31, 2019
	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	$	826,047	$	(24,935)	$	36,037	$	778	$	837,927	$	764,392
Asset-backed U.S. commercial paper conduit facilities	533,587		(16,076)		27,775		1,642		546,928		490,427
Unconsolidated VIEs:
Asset-backed Canadian commercial paper conduit facility	232,699		(2,786)		7,686		296		237,895		114,693
	$	1,592,333	$	(43,797)	$	71,498	$	2,716	$	1,622,750	$	1,369,512
	March 31, 2019
	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	$	62,771	$	(1,855)	$	8,199	$	134	$	69,249	$	18,694
Asset-backed U.S. commercial paper conduit facilities	567,295		(16,821)		31,565		1,282		583,321		526,947
Unconsolidated VIEs:
Asset-backed Canadian commercial paper conduit facility	164,779		(3,003)		9,767		282		171,825		142,676
	$	794,845	$	(21,679)	$	49,531	$	1,698	$	824,395	$	688,317

Schedule of Servicing Activities

The unpaid principal balance of retail motorcycle finance receivables serviced by the Company was as follows (in thousands):

	March 29, 2020		December 31, 2019		March 31, 2019
On-balance sheet retail motorcycle finance receivables	$	6,132,225	$	6,274,551	$	6,159,058
Off-balance sheet retail motorcycle finance receivables	27,421		35,197		67,062
	$	6,159,646	$	6,309,748	$	6,226,120

The unpaid principal balance of retail motorcycle finance receivables serviced by the Company 30 days or more delinquent was as follows (in thousands):

	March 29, 2020		December 31, 2019		March 31, 2019
On-balance sheet retail motorcycle finance receivables	$	177,928	$	244,498	$	201,142
Off-balance sheet retail motorcycle finance receivables	712		885		1,194
	$	178,640	$	245,383	$	202,336

Credit losses, net of recoveries for the retail motorcycle finance receivables serviced by the Company were as follows (in thousands):

	Three months ended
	March 29, 2020		March 31, 2019
On-balance sheet retail motorcycle finance receivables	$	43,108	$	33,504
Off-balance sheet retail motorcycle finance receivables	13		231
	$	43,121	$	33,735