XML 142 R129.htm IDEA: XBRL DOCUMENT v3.20.4
Supplemental Consolidating Data - Cash Flows (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Net income $ 1,298 $ 423,635 $ 531,451
Adjustments to reconcile Net income to Net cash provided by operating activities:      
Depreciation and amortization 185,715 232,537 264,863
Amortization of deferred loan origination costs 71,142 76,326 81,315
Amortization of financing origination fees 14,435 9,823 8,367
Provision for long-term employee benefits 40,833 13,344 36,481
Employee benefit plan contributions and payments (20,722) (13,256) (10,544)
Stock compensation expense 23,494 33,733 35,539
Net change in wholesale finance receivables related to sales 531,701 (5,822) (56,538)
Provision for credit losses 181,870 134,536 106,870
Deferred income taxes (44,079) 21,547 (33,981)
Other, net 13,826 298 37,554
Changes in current assets and liabilities:      
Accounts receivable, net 127,657 44,902 9,143
Finance receivables – accrued interest and other 7,418 (11,119) 773
Inventories, net 80,858 (47,576) (31,059)
Accounts payable and accrued liabilities (43,087) (18,462) 196,192
Derivative financial instruments (3,481) 1,936 473
Other 9,012 (28,110) 29,022
Total change in current assets and liabilities 1,176,592 444,637 674,470
Net cash provided by operating activities 1,177,890 868,272 1,205,921
Cash flows from investing activities:      
Capital expenditures (131,050) (181,440) (213,516)
Origination of finance receivables (3,497,486) (3,847,322) (3,752,817)
Collections on finance receivables 3,540,289 3,499,717 3,325,669
Purchases of marketable securities 0 0 (10,007)
Sales and redemptions of marketable securities 0 10,007 0
Acquisition of business 0 (7,000) 0
Other investing activities 21,464 17,912 (11,598)
Net cash used by investing activities (66,783) (508,126) (662,269)
Cash flows from financing activities:      
Proceeds from issuance of medium-term notes 1,396,602 1,203,236 1,591,828
Repayments of medium-term notes (1,400,000) (1,350,000) (877,488)
Proceeds from securitization debt 2,064,450 1,021,453 0
Repayments of securitization debt (1,041,751) (353,251) (257,869)
Borrowings of asset-backed commercial paper 225,187 177,950 509,742
Repayments of asset-backed commercial paper (318,828) (318,006) (212,729)
Net increase (decrease) in unsecured commercial paper 444,380 (563,453) (135,356)
Deposits 79,947 0 0
Dividends paid (68,087) (237,221) (245,810)
Repurchase of common stock (8,006) (296,520) (390,606)
Issuance of common stock under share-based plans 89 3,589 3,525
Net cash provided (used) by financing activities 1,373,983 (712,223) (14,763)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 18,712 (2,305) (15,351)
Net increase (decrease) in cash, cash equivalents and restricted cash 2,503,802 (354,382) 513,538
Cash and cash equivalents:      
Cash, cash equivalents and restricted cash, beginning of period 905,366 1,259,748 746,210
Net increase (decrease) in cash, cash equivalents and restricted cash 2,503,802 (354,382) 513,538
Cash, cash equivalents and restricted cash, end of period 3,409,168 905,366 $ 1,259,748
Reportable Legal Entities      
Cash flows from financing activities:      
Proceeds from securitization debt 0    
Reportable Legal Entities | HDMC Entities      
Cash flows from operating activities:      
Net income (48,883)    
Adjustments to reconcile Net income to Net cash provided by operating activities:      
Depreciation and amortization 177,113    
Amortization of deferred loan origination costs 0    
Amortization of financing origination fees 681    
Provision for long-term employee benefits 40,833    
Employee benefit plan contributions and payments (20,722)    
Stock compensation expense 17,905    
Net change in wholesale finance receivables related to sales 0    
Provision for credit losses 0    
Deferred income taxes (19,097)    
Other, net 544    
Changes in current assets and liabilities:      
Accounts receivable, net 161,012    
Finance receivables – accrued interest and other 0    
Inventories, net 80,858    
Accounts payable and accrued liabilities (34,755)    
Derivative financial instruments (3,566)    
Other 13,929    
Total change in current assets and liabilities 414,735    
Net cash provided by operating activities 365,852    
Cash flows from investing activities:      
Capital expenditures (128,798)    
Origination of finance receivables 0    
Collections on finance receivables 0    
Other investing activities 18,073    
Net cash used by investing activities (110,725)    
Cash flows from financing activities:      
Proceeds from issuance of medium-term notes 0    
Repayments of medium-term notes 0    
Repayments of securitization debt 0    
Borrowings of asset-backed commercial paper 0    
Repayments of asset-backed commercial paper 0    
Net increase (decrease) in unsecured commercial paper 0    
Deposits 0    
Dividends paid (68,087)    
Repurchase of common stock (8,006)    
Issuance of common stock under share-based plans 89    
Net cash provided (used) by financing activities (76,004)    
Effect of exchange rate changes on cash, cash equivalents and restricted cash 16,389    
Net increase (decrease) in cash, cash equivalents and restricted cash 195,512    
Cash and cash equivalents:      
Cash, cash equivalents and restricted cash, beginning of period 470,649    
Net increase (decrease) in cash, cash equivalents and restricted cash 195,512    
Cash, cash equivalents and restricted cash, end of period 666,161 470,649  
Reportable Legal Entities | HDFS Entities      
Cash flows from operating activities:      
Net income 149,744    
Adjustments to reconcile Net income to Net cash provided by operating activities:      
Depreciation and amortization 8,602    
Amortization of deferred loan origination costs 71,142    
Amortization of financing origination fees 13,754    
Provision for long-term employee benefits 0    
Employee benefit plan contributions and payments 0    
Stock compensation expense 1,859    
Net change in wholesale finance receivables related to sales 0    
Provision for credit losses 181,870    
Deferred income taxes (24,697)    
Other, net 13,718    
Changes in current assets and liabilities:      
Accounts receivable, net 0    
Finance receivables – accrued interest and other 7,418    
Inventories, net 0    
Accounts payable and accrued liabilities (40,851)    
Derivative financial instruments 85    
Other (4,081)    
Total change in current assets and liabilities 228,819    
Net cash provided by operating activities 378,563    
Cash flows from investing activities:      
Capital expenditures (2,252)    
Origination of finance receivables (5,616,347)    
Collections on finance receivables 6,192,625    
Other investing activities 3,391    
Net cash used by investing activities 577,417    
Cash flows from financing activities:      
Proceeds from issuance of medium-term notes 1,396,602    
Repayments of medium-term notes (1,400,000)    
Proceeds from securitization debt 2,064,450    
Repayments of securitization debt (1,041,751)    
Borrowings of asset-backed commercial paper 225,187    
Repayments of asset-backed commercial paper (318,828)    
Net increase (decrease) in unsecured commercial paper 444,380    
Deposits 79,947    
Dividends paid (100,000)    
Repurchase of common stock 0    
Issuance of common stock under share-based plans 0    
Net cash provided (used) by financing activities 1,349,987    
Effect of exchange rate changes on cash, cash equivalents and restricted cash 2,323    
Net increase (decrease) in cash, cash equivalents and restricted cash 2,308,290    
Cash and cash equivalents:      
Cash, cash equivalents and restricted cash, beginning of period 434,717    
Net increase (decrease) in cash, cash equivalents and restricted cash 2,308,290    
Cash, cash equivalents and restricted cash, end of period 2,743,007 434,717  
Consolidating Adjustments      
Cash flows from operating activities:      
Net income (99,563)    
Adjustments to reconcile Net income to Net cash provided by operating activities:      
Depreciation and amortization 0    
Amortization of deferred loan origination costs 0    
Amortization of financing origination fees 0    
Provision for long-term employee benefits 0    
Employee benefit plan contributions and payments 0    
Stock compensation expense 3,730    
Net change in wholesale finance receivables related to sales 531,701    
Provision for credit losses 0    
Deferred income taxes (285)    
Other, net (436)    
Changes in current assets and liabilities:      
Accounts receivable, net (33,355)    
Finance receivables – accrued interest and other 0    
Inventories, net 0    
Accounts payable and accrued liabilities 32,519    
Derivative financial instruments 0    
Other (836)    
Total change in current assets and liabilities 533,038    
Net cash provided by operating activities 433,475    
Cash flows from investing activities:      
Capital expenditures 0    
Origination of finance receivables 2,118,861    
Collections on finance receivables (2,652,336)    
Other investing activities 0    
Net cash used by investing activities (533,475)    
Cash flows from financing activities:      
Proceeds from issuance of medium-term notes 0    
Repayments of medium-term notes 0    
Proceeds from securitization debt 0    
Repayments of securitization debt 0    
Borrowings of asset-backed commercial paper 0    
Repayments of asset-backed commercial paper 0    
Net increase (decrease) in unsecured commercial paper 0    
Deposits 0    
Dividends paid 100,000    
Repurchase of common stock 0    
Issuance of common stock under share-based plans 0    
Net cash provided (used) by financing activities 100,000    
Effect of exchange rate changes on cash, cash equivalents and restricted cash 0    
Net increase (decrease) in cash, cash equivalents and restricted cash 0    
Cash and cash equivalents:      
Cash, cash equivalents and restricted cash, beginning of period 0    
Net increase (decrease) in cash, cash equivalents and restricted cash 0    
Cash, cash equivalents and restricted cash, end of period $ 0 $ 0