Derivative Financial Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instrument Fair Value

The notional and 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
	2020						2019
	Notional Value		Other Current Assets		Accrued Liabilities		Notional Value		Other Current Assets		Accrued Liabilities
Foreign currency contracts	$	533,925	$	11	$	21,927	$	434,321	$	3,505	$	3,661
Commodity contracts	671		—		52		616		—		80
Cross-currency swaps	1,367,460		138,622		—		660,780		8,326		—
Interest rate swaps	450,000		—		3,086		900,000		—		9,181
	$	2,352,056	$	138,633	$	25,065	$	1,995,717	$	11,831	$	12,922
	Derivative Financial Instruments Not Designated as Hedging Instruments
	2020						2019
	Notional Value		Other Current Assets		Accrued Liabilities		Notional Value		Other Current Assets		Accrued Liabilities
Foreign currency contracts	$	245,494	$	737	$	435	$	220,139	$	721	$	865
Commodity contracts	6,806		849		21		8,270		95		147
Interest rate caps	978,058		47		—		375,980		2		—
	$	1,230,358	$	1,633	$	456	$	604,389	$	818	$	1,012

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
	2020		2019		2018		2020		2019		2018
Foreign currency contracts	$	(14,507)	$	8,235	$	41,657	$	9,859	$	21,433	$	11,492
Commodity contracts	(160)		(103)		34		(189)		(70)		24
Cross-currency swaps	130,297		8,326		—		153,472		12,156		—
Treasury rate lock contracts	—		—		41		(492)		(492)		(498)
Interest rate swaps	(8,449)		(9,981)		(6,046)		(14,543)		(5,295)		(1,552)
	$	107,181	$	6,477	$	35,686	$	148,107	$	27,732	$	9,466

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
	2020
Line item on the Consolidated statements of operations in which the effects of cash flow hedges are recorded	$	2,435,745	$	1,050,627	$	31,121	$	246,447
Gain/(loss) reclassified from AOCL into income:
Foreign currency contracts	$	9,859	$	—	$	—	$	—
Commodity contracts	$	(189)	$	—	$	—	$	—
Cross-currency swaps	$	—	$	153,472	$	—	$	—
Treasury rate lock contracts	$	—	$	—	$	(362)	$	(130)
Interest rate swaps	$	—	$	—	$	—	$	(14,543)
	2019
Line item on the Consolidated statements of operations 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 swaps	$	—	$	12,156	$	—	$	—
Treasury rate lock contracts	$	—	$	—	$	(362)	$	(130)
Interest rate swaps	$	—	$	—	$	—	$	(5,295)
	2018
Line item on the Consolidated statements of operations 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 lock contracts	$	—	$	—	$	(362)	$	(136)
Interest rate swaps	$	—	$	—	$	—	$	(1,552)

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

The amount of gains and losses recognized in income related to derivative financial instruments not designated as hedging instruments as of December 31, were as follows (in thousands). Gains and losses on foreign currency contracts and commodity contracts were recorded in Motorcycles and Related Products cost of goods sold and the interest rate caps were recorded in Financial Services interest expense.

	Amount of Gain/(Loss) Recognized in Income
	2020		2019		2018
Foreign currency contracts	$	(205)	$	191	$	—
Commodity contracts	(148)		17		(430)
Interest rate caps	(532)		(143)		—
	$	(885)	$	65	$	(430)