Additional Balance Sheet and Cash Flow Information (Tables)

3 Months Ended

Mar. 28, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Marketable Securities

Investments in Marketable Securities – The Company’s investments in marketable securities consisted of the following (in thousands):

	March 28, 2021		December 31, 2020		March 29, 2020
Mutual funds	$	50,239	$	52,061	$	44,144

Inventories, Net

Inventories, net consisted of the following (in thousands):

	March 28, 2021		December 31, 2020		March 29, 2020
Raw materials and work in process	$	251,199	$	211,979	$	245,384
Motorcycle finished goods	185,590		281,132		272,648
Parts & Accessories and General Merchandise	88,291		84,469		149,318
Inventory at lower of FIFO cost or net realizable value	525,080		577,580		667,350
Excess of FIFO over LIFO cost	(54,083)		(54,083)		(56,426)
	$	470,997	$	523,497	$	610,924

Reconciliation of Net Cash Provided by Operating Activities

The reconciliation of Net income to Net cash provided (used) by operating activities was as follows (in thousands):

	Three months ended
	March 28, 2021		March 29, 2020
Cash flows from operating activities:
Net income	$	259,144	$	69,695
Adjustments to reconcile Net income to Net cash provided (used) by operating activities:
Depreciation and amortization	40,221		47,427
Amortization of deferred loan origination costs	19,200		16,739
Amortization of financing origination fees	3,614		2,999
Provision for long-term employee benefits	7,090		7,852
Employee benefit plan contributions and payments	(9,885)		(1,608)
Stock compensation expense	8,968		3,896
Net change in wholesale finance receivables related to sales	(308,532)		(208,183)
Provision for credit losses	(22,474)		79,419
Deferred income taxes	13,192		(3,803)
Other, net	1,171		3,579
Changes in current assets and liabilities:
Accounts receivable, net	(79,012)		(47,272)
Finance receivables – accrued interest and other	8,947		4,007
Inventories, net	45,086		(23,943)
Accounts payable and accrued liabilities	153,597		10,562
Derivative financial instruments	(3,309)		2,812
Other	25,763		27,240
	(96,363)		(78,277)
Net cash provided (used) by operating activities	$	162,781	$	(8,582)

Certificates of Deposit Maturity

Future maturities of the Company's certificates of deposit as of March 28, 2021 were as follows (in thousands):

2021	$	80,000
2022	14,000
2023	7,000
2024	22,000
2025	—
Thereafter	30,000
Unamortized fees	(347)
	$	152,653