Asset-Backed Financing (Tables)

6 Months Ended

Jun. 26, 2022

Transfers and Servicing [Abstract]

Schedule of 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 26, 2022
	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	$	3,477,839	$	(173,853)	$	202,029	$	3,432	$	3,509,447	$	2,847,921
Asset-backed U.S. commercial paper conduit facility	630,305		(31,491)		43,701		782		643,297		570,628
Unconsolidated VIEs:
Asset-backed Canadian commercial paper conduit facility	88,197		(3,598)		6,481		76		91,156		77,984
	$	4,196,341	$	(208,942)	$	252,211	$	4,290	$	4,243,900	$	3,496,533
	December 31, 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	$	2,048,194	$	(102,779)	$	123,717	$	2,328	$	2,071,460	$	1,627,142
Asset-backed U.S. commercial paper conduit facility	297,454		(14,898)		20,567		654		303,777		272,589
Unconsolidated VIEs:
Asset-backed Canadian commercial paper conduit facility	97,180		(3,990)		6,191		139		99,520		85,054
	$	2,442,828	$	(121,667)	$	150,475	$	3,121	$	2,474,757	$	1,984,785
	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

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 millions):

	2022						2021
	Transfers		Proceeds		Proceeds, net		Transfers		Proceeds		Proceeds, net
First quarter	$	—	$	—	$	—	$	663.1	$	600.0	$	597.4
Second quarter	2,176.4		1,836.3		1,826.9		—		—		—
	$	2,176.4	$	1,836.3	$	1,826.9	$	663.1	$	600.0	$	597.4