XML 100 R90.htm IDEA: XBRL DOCUMENT v3.21.2
Supplemental Consolidating Data - Cash Flows (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 27, 2021
Mar. 28, 2021
Jun. 28, 2020
Mar. 29, 2020
Jun. 27, 2021
Jun. 28, 2020
Cash flows from operating activities:            
Net income (loss) $ 206,340 $ 259,144 $ (92,217) $ 69,695 $ 465,484 $ (22,522)
Adjustments to reconcile Net income (loss) to Net cash provided by operating activities:            
Depreciation and amortization         81,323 95,454
Amortization of deferred loan origination costs         40,089 33,796
Amortization of financing origination fees         7,224 6,661
Provision for long-term employee benefits         13,366 15,704
Employee benefit plan contributions and payments         (11,055) (3,678)
Stock compensation expense         23,340 4,568
Net change in wholesale finance receivables related to sales         (129,819) 166,049
Provision for credit losses 16,201   91,179   (6,273) 170,598
Deferred income taxes         12,732 (19,461)
Other, net         (2,065) (7,756)
Changes in current assets and liabilities:            
Accounts receivable, net         (124,738) (15,747)
Finance receivables – accrued interest and other         9,691 (2,985)
Inventories, net         58,366 163,700
Accounts payable and accrued liabilities         196,606 10,664
Other         10,029 15,158
Total adjustments         178,816 632,725
Net cash provided by operating activities         644,300 610,203
Cash flows from investing activities:            
Capital expenditures         (37,568) (67,026)
Origination of finance receivables         (2,294,500) (1,869,569)
Collections on finance receivables         1,944,364 1,785,698
Other investing activities         2,425 (381)
Net cash used by investing activities         (385,279) (151,278)
Cash flows from financing activities:            
Repayments of medium-term notes         (1,400,000) (1,400,000)
Proceeds from securitization debt         597,411 2,064,450
Repayments of securitization debt         (664,685) (369,613)
Repayments of asset-backed commercial paper         (143,256) (143,306)
Net (decrease) increase in unsecured commercial paper         (262,452) 831,354
Net increase in credit facilities         84 150,000
Net increase in deposits         179,329 17,995
Dividends paid         (46,209) (61,917)
Repurchase of common stock         (10,911) (7,156)
Issuance of common stock under share-based plans         4,324 41
Net cash (used) provided by financing activities         (1,746,365) 2,703,637
Effect of exchange rate changes on cash, cash equivalents and restricted cash         (6,878) (382)
Cash, cash equivalents and restricted cash:            
Cash, cash equivalents and restricted cash, beginning of period   3,409,168   $ 905,366 3,409,168 905,366
Net increase (decrease) in cash, cash equivalents and restricted cash         (1,494,222) 3,162,180
Cash, cash equivalents and restricted cash, end of period 1,914,946   $ 4,067,546   1,914,946 $ 4,067,546
HDMC Entities            
Cash flows from financing activities:            
Proceeds from securitization debt         0  
HDFS Entities            
Cash flows from financing activities:            
Proceeds from securitization debt         597,411  
Reportable Legal Entities | HDMC Entities            
Cash flows from operating activities:            
Net income (loss) 254,331       423,384  
Adjustments to reconcile Net income (loss) to Net cash provided by operating activities:            
Depreciation and amortization         76,749  
Amortization of deferred loan origination costs         0  
Amortization of financing origination fees         344  
Provision for long-term employee benefits         13,366  
Employee benefit plan contributions and payments         (11,055)  
Stock compensation expense         21,550  
Net change in wholesale finance receivables related to sales         0  
Provision for credit losses 0       0  
Deferred income taxes         6,505  
Other, net         (2,092)  
Changes in current assets and liabilities:            
Accounts receivable, net         (427,762)  
Finance receivables – accrued interest and other         0  
Inventories, net         58,366  
Accounts payable and accrued liabilities         182,066  
Other         8,615  
Total adjustments         (73,348)  
Net cash provided by operating activities         350,036  
Cash flows from investing activities:            
Capital expenditures         (36,104)  
Origination of finance receivables         0  
Collections on finance receivables         0  
Net cash used by investing activities         (33,679)  
Cash flows from financing activities:            
Repayments of medium-term notes         0  
Repayments of securitization debt         0  
Repayments of asset-backed commercial paper         0  
Net (decrease) increase in unsecured commercial paper         0  
Net increase in credit facilities         0  
Net increase in deposits         0  
Dividends paid         (46,209)  
Repurchase of common stock         (10,911)  
Issuance of common stock under share-based plans         4,324  
Net cash (used) provided by financing activities         (52,796)  
Effect of exchange rate changes on cash, cash equivalents and restricted cash         (6,217)  
Cash, cash equivalents and restricted cash:            
Cash, cash equivalents and restricted cash, beginning of period   666,161     666,161  
Net increase (decrease) in cash, cash equivalents and restricted cash         257,344  
Cash, cash equivalents and restricted cash, end of period 923,505       923,505  
Reportable Legal Entities | HDFS Entities            
Cash flows from operating activities:            
Net income (loss) 72,464       162,474  
Adjustments to reconcile Net income (loss) to Net cash provided by operating activities:            
Depreciation and amortization         4,574  
Amortization of deferred loan origination costs         40,089  
Amortization of financing origination fees         6,880  
Provision for long-term employee benefits         0  
Employee benefit plan contributions and payments         0  
Stock compensation expense         1,790  
Net change in wholesale finance receivables related to sales         0  
Provision for credit losses 16,201       (6,273)  
Deferred income taxes         6,597  
Other, net         (347)  
Changes in current assets and liabilities:            
Accounts receivable, net         0  
Finance receivables – accrued interest and other         9,691  
Inventories, net         0  
Accounts payable and accrued liabilities         313,178  
Other         5,145  
Total adjustments         381,324  
Net cash provided by operating activities         543,798  
Cash flows from investing activities:            
Capital expenditures         (1,464)  
Origination of finance receivables         (4,254,353)  
Collections on finance receivables         3,774,683  
Other investing activities         0  
Net cash used by investing activities         (481,134)  
Cash flows from financing activities:            
Repayments of medium-term notes         (1,400,000)  
Repayments of securitization debt         (664,685)  
Repayments of asset-backed commercial paper         (143,256)  
Net (decrease) increase in unsecured commercial paper         (262,452)  
Net increase in credit facilities         84  
Net increase in deposits         179,329  
Dividends paid         (120,000)  
Repurchase of common stock         0  
Issuance of common stock under share-based plans         0  
Net cash (used) provided by financing activities         (1,813,569)  
Effect of exchange rate changes on cash, cash equivalents and restricted cash         (661)  
Cash, cash equivalents and restricted cash:            
Cash, cash equivalents and restricted cash, beginning of period   2,743,007     2,743,007  
Net increase (decrease) in cash, cash equivalents and restricted cash         (1,751,566)  
Cash, cash equivalents and restricted cash, end of period 991,441       991,441  
Consolidating Adjustments            
Cash flows from operating activities:            
Net income (loss) (120,455)       (120,374)  
Adjustments to reconcile Net income (loss) 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         0  
Net change in wholesale finance receivables related to sales         (129,819)  
Provision for credit losses 0       0  
Deferred income taxes         (370)  
Other, net         374  
Changes in current assets and liabilities:            
Accounts receivable, net         303,024  
Finance receivables – accrued interest and other         0  
Inventories, net         0  
Accounts payable and accrued liabilities         (298,638)  
Other         (3,731)  
Total adjustments         (129,160)  
Net cash provided by operating activities         (249,534)  
Cash flows from investing activities:            
Capital expenditures         0  
Origination of finance receivables         1,959,853  
Collections on finance receivables         (1,830,319)  
Other investing activities         0  
Net cash used by investing activities         129,534  
Cash flows from financing activities:            
Repayments of medium-term notes         0  
Proceeds from securitization debt         0  
Repayments of securitization debt         0  
Repayments of asset-backed commercial paper         0  
Net (decrease) increase in unsecured commercial paper         0  
Net increase in credit facilities         0  
Net increase in deposits         0  
Dividends paid         120,000  
Repurchase of common stock         0  
Issuance of common stock under share-based plans         0  
Net cash (used) provided by financing activities         120,000  
Effect of exchange rate changes on cash, cash equivalents and restricted cash         0  
Cash, cash equivalents and restricted cash:            
Cash, cash equivalents and restricted cash, beginning of period   $ 0     0  
Net increase (decrease) in cash, cash equivalents and restricted cash         0  
Cash, cash equivalents and restricted cash, end of period $ 0       $ 0