Derivative Financial Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2021

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
	2021						2020
	Notional Value		Other Current Assets		Accrued Liabilities		Notional Value		Other Current Assets		Accrued Liabilities
Foreign currency contracts	$	562,262	$	14,644	$	1,388	$	533,925	$	11	$	21,927
Commodity contracts	996		19		39		671		—		52
Cross-currency swaps	1,367,460		35,071		—		1,367,460		138,622		—
Interest rate swaps	—		—		—		450,000		—		3,086
	$	1,930,718	$	49,734	$	1,427	$	2,352,056	$	138,633	$	25,065
	Derivative Financial Instruments Not Designated as Hedging Instruments
	2021						2020
	Notional Value		Other Current Assets		Accrued Liabilities		Notional Value		Other Current Assets		Accrued Liabilities
Foreign currency contracts	$	241,935	$	1,299	$	916	$	245,494	$	737	$	435
Commodity contracts	10,631		641		18		6,806		849		21
Interest rate caps	504,526		360		—		978,058		47		—
	$	757,092	$	2,300	$	934	$	1,230,358	$	1,633	$	456

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
	2021		2020		2019		2021		2020		2019
Foreign currency contracts	$	29,602	$	(14,507)	$	8,235	$	(12,531)	$	9,859	$	21,433
Commodity contracts	345		(160)		(103)		313		(189)		(70)
Cross-currency swaps	(103,551)		130,297		8,326		(115,200)		153,472		12,156
Treasury rate lock contracts	—		—		—		(502)		(492)		(492)
Interest rate swaps	397		(8,449)		(9,981)		(2,689)		(14,543)		(5,295)
	$	(73,207)	$	107,181	$	6,477	$	(130,609)	$	148,107	$	27,732

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
	2021
Line item on the Consolidated statements of operations in which the effects of cash flow hedges are recorded	$	3,243,287	$	1,048,174	$	30,972	$	192,944
Gain/(loss) reclassified from AOCL into income:
Foreign currency contracts	$	(12,531)	$	—	$	—	$	—
Commodity contracts	$	313	$	—	$	—	$	—
Cross-currency swaps	$	—	$	(115,200)	$	—	$	—
Treasury rate lock contracts	$	—	$	—	$	(363)	$	(139)
Interest rate swaps	$	—	$	—	$	—	$	(2,689)
	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)

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 operating expense.

	Amount of Gain/(Loss) Recognized in Income
	2021		2020		2019
Foreign currency contracts	$	(2,374)	$	(205)	$	191
Commodity contracts	1,966		(148)		17
Interest rate caps	313		(532)		(143)
	$	(95)	$	(885)	$	65