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Finance Receivables (Tables)
 3 Months Ended
Mar. 28, 2021
Receivables [Abstract]  
Finance Receivables
Finance receivables, net were as follows (in thousands):
March 28,
2021		December 31,
2020		March 29,
2020
Retail finance receivables$6,310,982 $6,344,195 $6,269,247 
Wholesale finance receivables792,028 489,749 1,358,656 
7,103,010 6,833,944 7,627,903 
Allowance for credit losses(346,233)(390,936)(335,496)
$6,756,777 $6,443,008 $7,292,407 
Allowance for Credit Losses on Finance Receivables
Changes in the allowance for credit losses on finance receivables by portfolio were as follows (in thousands):
 Three months ended March 28, 2021
 RetailWholesaleTotal
Balance, beginning of period$371,738 $19,198 $390,936 
Provision for credit losses(22,449)(25)(22,474)
Charge-offs(34,589)— (34,589)
Recoveries12,360 — 12,360 
Balance, end of period$327,060 $19,173 $346,233 
 Three months ended March 29, 2020
 RetailWholesaleTotal
Balance, beginning of period$188,501 $10,080 $198,581 
Cumulative effect of change in accounting(a)
95,558 5,046 100,604 
Provision for credit losses70,417 9,002 79,419 
Charge-offs(55,215)— (55,215)
Recoveries12,107 — 12,107 
Balance, end of period$311,368 $24,128 $335,496 
(a)On January 1, 2020, the Company adopted ASU 2016-13 and increased the allowance for loan loss through Retained earnings, net of income taxes, to establish an allowance that represents expected lifetime credit losses on the finance receivable portfolios at date of adoption.
Financing Receivable Credit Quality Indicators
The amortized cost of the Company's U.S. and Canadian retail finance receivables by vintage and credit quality indicator was as follows (in thousands):
March 28, 2021
202120202019201820172016 & PriorTotal
U.S. Retail:
Super prime$260,359 $725,383 $502,847 $301,839 $134,213 $74,086 $1,998,727 
Prime349,662 1,026,080 706,940 445,201 249,327 183,217 2,960,427 
Sub-prime130,389 395,495 263,203 156,368 96,998 100,827 1,143,280 
740,410 2,146,958 1,472,990 903,408 480,538 358,130 6,102,434 
Canadian Retail:
Super prime13,938 48,309 42,993 24,549 11,116 4,831 145,736 
Prime4,245 17,350 13,055 9,263 5,808 4,178 53,899 
Sub-prime601 2,949 2,227 1,407 951 778 8,913 
18,784 68,608 58,275 35,219 17,875 9,787 208,548 
$759,194 $2,215,566 $1,531,265 $938,627 $498,413 $367,917 $6,310,982 
December 31, 2020
202020192018201720162015 & PriorTotal
U.S. Retail:
Super prime$822,631 $575,977 $355,529 $165,436 $71,360 $29,181 $2,020,114 
Prime1,133,637 794,058 508,713 293,358 156,688 77,046 2,963,500 
Sub-prime435,875 295,403 177,598 111,163 72,556 52,060 1,144,655 
2,392,143 1,665,438 1,041,840 569,957 300,604 158,287 6,128,269 
Canadian Retail:
Super prime53,465 48,692 28,581 13,818 5,018 2,011 151,585 
Prime18,568 14,257 10,269 6,727 3,198 2,025 55,044 
Sub-prime3,172 2,498 1,560 1,095 607 365 9,297 
75,205 65,447 40,410 21,640 8,823 4,401 215,926 
$2,467,348 $1,730,885 $1,082,250 $591,597 $309,427 $162,688 $6,344,195 

March 29, 2020
202020192018201720162015 & PriorTotal
U.S. Retail:
Super prime$204,937 $825,176 $539,296 $275,621 $140,284 $62,924 $2,048,238 
Prime265,365 1,065,132 717,234 441,284 262,421 155,338 2,906,774 
Sub-prime108,068 394,291 239,571 155,391 108,531 98,124 1,103,976 
578,370 2,284,599 1,496,101 872,296 511,236 316,386 6,058,988 
Canadian Retail:
Super prime12,819 61,889 39,516 22,186 10,565 4,989 151,964 
Prime3,968 16,479 12,389 8,441 4,549 3,929 49,755 
Sub-prime768 2,827 1,919 1,348 921 757 8,540 
17,555 81,195 53,824 31,975 16,035 9,675 210,259 
$595,925 $2,365,794 $1,549,925 $904,271 $527,271 $326,061 $6,269,247 
The amortized cost of wholesale financial receivables, by vintage and credit quality indicator, was as follows (in thousands):
March 28, 2021
202120202019201820172016 & PriorTotal
Non-Performing$— $— $— $— $— $— $— 
Doubtful— — — — — — — 
Substandard— — — — — — — 
Special Mention567 530 262 17 — — 1,376 
Medium Risk— 728 417 — — — 1,145 
Low Risk600,144 122,970 44,614 12,568 6,392 2,819 789,507 
$600,711 $124,228 $45,293 $12,585 $6,392 $2,819 $792,028 

December 31, 2020
202020192018201720162015 & PriorTotal
Non-Performing$— $— $— $— $— $— $— 
Doubtful— — — — — — — 
Substandard— — — — — — — 
Special Mention658 365 31 — — — 1,054 
Medium Risk1,925 242 — — — — 2,167 
Low Risk388,568 71,441 13,412 7,887 2,297 2,923 486,528 
$391,151 $72,048 $13,443 $7,887 $2,297 $2,923 $489,749 

March 29, 2020
202020192018201720162015 & PriorTotal
Non-Performing$— $2,376 $1,774 $107 $25 $43 $4,325 
Doubtful478 4,169 529 51 — 726 5,953 
Substandard5,375 6,374 391 131 — — 12,271 
Special Mention5,239 8,001 977 6 — 1,268 15,491 
Medium Risk8,307 10,996 1,091 23 — 826 21,243 
Low Risk658,137 574,401 47,101 10,997 6,323 2,414 1,299,373 
$677,536 $606,317 $51,863 $11,315 $6,348 $5,277 $1,358,656 
Impaired Financing Receivables
Additional information related to the wholesale finance receivables on non-accrual status at March 29, 2020 includes (in thousands):
Amortized Cost, Beginning of PeriodAmortized Cost, End of PeriodInterest Income Recognized
No related allowance recorded$— $— $— 
Related allowance recorded4,994 4,325 — 
$4,994 $4,325 $— 
Aging of Past Due Finance Receivables Including Non-Accrual Status Finance Receivables
The aging analysis of finance receivables was as follows (in thousands):
 March 28, 2021
Current31-60 Days
Past Due		61-90 Days
Past Due		Greater than
90 Days
Past Due		Total
Past Due		Total
Retail finance receivables$6,196,345 $69,032 $23,420 $22,185 $114,637 $6,310,982 
Wholesale finance receivables791,826 128 22 52 202 792,028 
$6,988,171 $69,160 $23,442 $22,237 $114,839 $7,103,010 
 December 31, 2020
Current31-60 Days
Past Due		61-90 Days
Past Due		Greater than
90 Days
Past Due		Total
Past Due		Total
Retail finance receivables$6,164,369 $106,818 $39,933 $33,075 $179,826 $6,344,195 
Wholesale finance receivables489,556 166 23 4 193 489,749 
$6,653,925 $106,984 $39,956 $33,079 $180,019 $6,833,944 
 March 29, 2020
Current31-60 Days
Past Due		61-90 Days
Past Due		Greater than
90 Days
Past Due		Total
Past Due		Total
Retail finance receivables$6,091,319 $101,412 $37,816 $38,700 $177,928 $6,269,247 
Wholesale finance receivables1,352,084 2,051 1,437 3,084 6,572 1,358,656 
$7,443,403 $103,463 $39,253 $41,784 $184,500 $7,627,903