Asset-Backed Financing (Tables)

6 Months Ended

Jun. 27, 2021

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):

	June 27, 2021
	Finance receivables		Allowance for credit losses		Restricted cash		Other assets		Total assets		Asset-backed debt, net
On-balance sheet assets and liabilities:
Consolidated VIEs:
Asset-backed securitizations	$	2,090,041	$	(107,174)	$	140,276	$	2,522	$	2,125,665	$	1,727,522
Asset-backed U.S. commercial paper conduit facility	316,467		(16,205)		24,540		726		325,528		291,511
Unconsolidated VIEs:
Asset-backed Canadian commercial paper conduit facility	98,905		(4,236)		8,162		129		102,960		87,439
	$	2,505,413	$	(127,615)	$	172,978	$	3,377	$	2,554,153	$	2,106,472
	December 31, 2020
	Finance receivables		Allowance for credit losses		Restricted cash		Other assets		Total assets		Asset-backed debt, net
On-balance sheet assets and liabilities:
Consolidated VIEs:
Asset-backed securitizations	$	2,129,372	$	(124,627)	$	116,268	$	2,622	$	2,123,635	$	1,791,956
Asset-backed U.S. commercial paper conduit facility	441,402		(25,793)		26,624		1,131		443,364		402,205
Unconsolidated VIEs:
Asset-backed Canadian commercial paper conduit facility	133,976		(6,508)		9,073		126		136,667		116,678
	$	2,704,750	$	(156,928)	$	151,965	$	3,879	$	2,703,666	$	2,310,839
	June 28, 2020
	Finance receivables		Allowance for credit losses		Restricted cash		Other assets		Total assets		Asset-backed debt, net
On-balance sheet assets and liabilities:
Consolidated VIEs:
Asset-backed securitizations	$	2,780,217	$	(166,635)	$	161,257	$	1,235	$	2,776,074	$	2,461,107
Asset-backed U.S. commercial paper conduit facilities	584,153		(34,938)		38,491		1,195		588,901		540,840
Unconsolidated VIEs:
Asset-backed Canadian commercial paper conduit facility	165,748		(7,669)		11,201		142		169,422		144,661
	$	3,530,118	$	(209,242)	$	210,949	$	2,572	$	3,534,397	$	3,146,608

Transfer of Financial Assets Accounted for as Sales

Quarterly transfers of U.S. retail motorcycle finance receivables to SPEs, the respective proceeds, and the respective proceeds, net of discounts and issuance costs were as follows (in thousands):

	2021						2020
	Transfers		Proceeds		Proceeds, net		Transfers		Proceeds		Proceeds, net
First quarter	$	663,100	$	600,000	$	597,400	$	580,200	$	525,000	$	522,700
Second quarter	—		—		—		1,840,500		1,550,200		1,541,800
	$	663,100	$	600,000	$	597,400	$	2,420,700	$	2,075,200	$	2,064,500