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Additional Balance Sheet and Cash Flow Information
 6 Months Ended
Jun. 26, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Additional Balance Sheet and Cash Flow Information Additional Balance Sheet and Cash Flow Information
Investments in Marketable Securities – The Company’s investments in marketable securities consisted of the following (in thousands):
June 26,
2022		December 31,
2021		June 27,
2021
Mutual funds$38,779 $49,650 $52,434 
Mutual funds, included in Other long-term assets on the Consolidated balance sheets, are carried at fair value with gains and losses recorded in income. Mutual funds are held to support certain deferred compensation obligations.
Inventories, net – Substantially all inventories located in the U.S. are valued using the last-in, first-out (LIFO) method. Other inventories are valued at the lower of cost or net realizable value using the first-in, first-out (FIFO) method. Motorcycle finished goods inventories include motorcycles that are ready for sale and motorcycles that are substantially complete but awaiting installation of certain components affected by global supply chain constraints. Inventories, net consisted of the following (in thousands):
June 26,
2022		December 31,
2021		June 27,
2021
Raw materials and work in process$384,658 $347,915 $245,562 
Motorcycle finished goods277,614 345,956 187,708 
Parts and accessories and apparel152,221 103,191 78,461 
Inventory at lower of FIFO cost or net realizable value814,493 797,062 511,731 
Excess of FIFO over LIFO cost(87,907)(84,120)(54,083)
$726,586 $712,942 $457,648 
Deposits – Harley-Davidson Financial Services offers brokered certificates of deposit to customers indirectly through contractual arrangements with third-party banks and/or securities brokerage firms through its bank subsidiary. The Company had $345.8 million, $290.3 million and $259.4 million, net of fees, of interest-bearing brokered certificates of deposit outstanding as of June 26, 2022, December 31, 2021, and June 27, 2021, respectively. The liabilities for deposits are included in Short-term deposits, net or Long-term deposits, net on the Consolidated balance sheets based upon the term of each brokered certificate of deposit issued. Each separate brokered certificate of deposit is issued under a master certificate, and as such, all outstanding brokered certificates of deposit are considered below the Federal Deposit Insurance Corporation insurance coverage limits.
Future maturities of the Company's certificates of deposit as of June 26, 2022 were as follows (in thousands):
2022$28,475 
202380,281 
202480,378 
202524,006 
202679,742 
Thereafter54,158 
Future maturities347,040 
Unamortized fees(1,250)
$345,790 
Operating Cash Flow – The reconciliation of Net income to Net cash provided by operating activities was as follows (in thousands):
 Six months ended
June 26,
2022		June 27,
2021
Cash flows from operating activities:
Net income$438,351 $465,484 
Adjustments to reconcile Net income to Net cash provided by operating activities:
Depreciation and amortization77,389 81,323 
Amortization of deferred loan origination costs47,101 40,089 
Amortization of financing origination fees7,637 7,224 
Provision for long-term employee benefits(9,844)13,366 
Employee benefit plan contributions and payments(5,466)(11,055)
Stock compensation expense19,765 23,340 
Net change in wholesale finance receivables related to sales(201,326)(129,819)
Provision for credit losses57,955 (6,273)
Deferred income taxes2,475 12,732 
Other, net11,102 (2,065)
Changes in current assets and liabilities:
Accounts receivable, net(134,605)(124,738)
Finance receivables – accrued interest and other
4,255 9,691 
Inventories, net(33,986)58,366 
Accounts payable and accrued liabilities(4,239)196,606 
Other current assets(32,378)10,029 
(194,165)178,816 
Net cash provided by operating activities$244,186 $644,300