XML 100 R89.htm IDEA: XBRL DOCUMENT v3.22.2.2
Supplemental Consolidating Data - Cash Flows (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 25, 2022
Jun. 26, 2022
Mar. 27, 2022
Sep. 26, 2021
Jun. 27, 2021
Mar. 28, 2021
Sep. 25, 2022
Sep. 26, 2021
Cash flows from operating activities:                
Net income $ 261,186 $ 215,849 $ 222,502 $ 162,973 $ 206,340 $ 259,144 $ 699,537 $ 628,457
Adjustments to reconcile Net income to Net cash provided by operating activities:                
Depreciation and amortization             114,867 122,483
Amortization of deferred loan origination costs             72,214 63,265
Amortization of financing origination fees             11,475 10,426
Provision for long-term employee benefits             (14,637) 19,640
Employee benefit plan contributions and payments             (4,766) (14,677)
Stock compensation expense             33,595 34,032
Net change in wholesale finance receivables related to sales             (294,698) (22,031)
Provision for credit losses 36,617     11,208     94,572 4,935
Deferred income taxes             (2,980) 10,626
Other, net             24,392 2,094
Changes in current assets and liabilities:                
Accounts receivable, net             (150,726) (148,670)
Finance receivables – accrued interest and other             3,566 11,088
Inventories, net             (6,577) 31,874
Accounts payable and accrued liabilities             37,745 168,306
Other current assets             (42,875) 3,703
Total adjustments             (124,833) 297,094
Net cash provided by operating activities             574,704 925,551
Cash flows from investing activities:                
Capital expenditures             (84,947) (61,476)
Origination of finance receivables             (3,773,830) (3,444,953)
Collections on finance receivables             3,110,881 2,968,397
Other investing activities             2,160 2,485
Net cash used by investing activities             (745,736) (535,547)
Cash flows from financing activities:                
Proceeds from issuance of medium-term notes             495,785 0
Repayments of medium-term notes             (950,000) (1,400,000)
Proceeds from securitization debt             1,826,891 1,169,910
Repayments of securitization debt             (1,054,939) (1,013,820)
Borrowings of asset-backed commercial paper             448,255 27,406
Repayments of asset-backed commercial paper             (228,431) (206,671)
Net decrease in unsecured commercial paper             (60,281) (261,978)
Net increase in deposits             54,080 210,144
Deposit in advance of business combination             100,000  
Dividends paid             (70,163) (69,316)
Repurchase of common stock             (338,496) (11,545)
Other financing activities             (1,237) 4,324
Net cash provided (used) by financing activities             221,464 (1,551,546)
Effect of exchange rate changes on cash, cash equivalents and restricted cash             (33,361) (11,050)
Cash, cash equivalents and restricted cash:                
Cash, cash equivalents and restricted cash, beginning of period     2,025,219     3,409,168 2,025,219 3,409,168
Net (decrease) increase in cash, cash equivalents and restricted cash             17,071 (1,172,592)
Cash, cash equivalents and restricted cash, end of period 2,042,290     2,236,576     2,042,290 2,236,576
Harley-Davidson Motor Company                
Cash flows from financing activities:                
Proceeds from securitization debt             0  
Harley-Davidson Financial Services                
Cash flows from financing activities:                
Proceeds from securitization debt             1,826,891  
Reportable Legal Entities | Harley-Davidson Motor Company                
Cash flows from operating activities:                
Net income 401,651     206,561     712,620 629,945
Adjustments to reconcile Net income to Net cash provided by operating activities:                
Depreciation and amortization             108,485 115,779
Amortization of deferred loan origination costs             0 0
Amortization of financing origination fees             524 517
Provision for long-term employee benefits             (14,637) 19,640
Employee benefit plan contributions and payments             (4,766) (14,677)
Stock compensation expense             31,418 31,089
Net change in wholesale finance receivables related to sales             0 0
Provision for credit losses 0     0     0 0
Deferred income taxes             1,981 4,710
Other, net             20,190 3,320
Changes in current assets and liabilities:                
Accounts receivable, net             (443,645) (379,821)
Finance receivables – accrued interest and other             0 0
Inventories, net             (6,577) 31,874
Accounts payable and accrued liabilities             22,075 162,088
Other current assets             (58,774) (11,127)
Total adjustments             (343,726) (36,608)
Net cash provided by operating activities             368,894 593,337
Cash flows from investing activities:                
Capital expenditures             (82,153) (59,128)
Origination of finance receivables             0 0
Collections on finance receivables             0 0
Other investing activities             2,160 2,485
Net cash used by investing activities             (79,993) (56,643)
Cash flows from financing activities:                
Proceeds from issuance of medium-term notes             0  
Repayments of medium-term notes             0 0
Proceeds from securitization debt               0
Repayments of securitization debt             0 0
Borrowings of asset-backed commercial paper             0 0
Repayments of asset-backed commercial paper             0 0
Net decrease in unsecured commercial paper             0 0
Net increase in deposits             0 0
Deposit in advance of business combination             100,000  
Dividends paid             (70,163) (69,316)
Repurchase of common stock             (338,496) (11,545)
Other financing activities             (1,237) 4,324
Net cash provided (used) by financing activities             (309,896) (76,537)
Effect of exchange rate changes on cash, cash equivalents and restricted cash             (30,821) (11,304)
Cash, cash equivalents and restricted cash:                
Cash, cash equivalents and restricted cash, beginning of period     1,078,205     666,161 1,078,205 666,161
Net (decrease) increase in cash, cash equivalents and restricted cash             (51,816) 448,853
Cash, cash equivalents and restricted cash, end of period 1,026,389     1,115,014     1,026,389 1,115,014
Reportable Legal Entities | Harley-Davidson Financial Services                
Cash flows from operating activities:                
Net income 59,413     76,210     186,800 238,684
Adjustments to reconcile Net income to Net cash provided by operating activities:                
Depreciation and amortization             6,382 6,704
Amortization of deferred loan origination costs             72,214 63,265
Amortization of financing origination fees             10,951 9,909
Provision for long-term employee benefits             0 0
Employee benefit plan contributions and payments             0 0
Stock compensation expense             2,177 2,943
Net change in wholesale finance receivables related to sales             0 0
Provision for credit losses 36,617     11,208     94,572 4,935
Deferred income taxes             (4,681) 6,028
Other, net             4,318 (1,397)
Changes in current assets and liabilities:                
Accounts receivable, net             0 0
Finance receivables – accrued interest and other             3,566 11,088
Inventories, net             0 0
Accounts payable and accrued liabilities             321,594 247,740
Other current assets             2,615 3,952
Total adjustments             513,708 355,167
Net cash provided by operating activities             700,508 593,851
Cash flows from investing activities:                
Capital expenditures             (2,794) (2,348)
Origination of finance receivables             (6,642,296) (6,157,658)
Collections on finance receivables             5,684,649 5,659,465
Other investing activities             0 0
Net cash used by investing activities             (960,441) (500,541)
Cash flows from financing activities:                
Proceeds from issuance of medium-term notes             495,785  
Repayments of medium-term notes             (950,000) (1,400,000)
Proceeds from securitization debt               1,169,910
Repayments of securitization debt             (1,054,939) (1,013,820)
Borrowings of asset-backed commercial paper             448,255 27,406
Repayments of asset-backed commercial paper             (228,431) (206,671)
Net decrease in unsecured commercial paper             (60,281) (261,978)
Net increase in deposits             54,080 210,144
Deposit in advance of business combination             0  
Dividends paid             (200,000) (240,000)
Repurchase of common stock             0 0
Other financing activities             0 0
Net cash provided (used) by financing activities             331,360 (1,715,009)
Effect of exchange rate changes on cash, cash equivalents and restricted cash             (2,540) 254
Cash, cash equivalents and restricted cash:                
Cash, cash equivalents and restricted cash, beginning of period     947,014     2,743,007 947,014 2,743,007
Net (decrease) increase in cash, cash equivalents and restricted cash             68,887 (1,621,445)
Cash, cash equivalents and restricted cash, end of period 1,015,901     1,121,562     1,015,901 1,121,562
Consolidating Adjustments                
Cash flows from operating activities:                
Net income (199,878)     (119,798)     (199,883) (240,172)
Adjustments to reconcile Net income to Net cash provided by operating activities:                
Depreciation and amortization             0 0
Amortization of deferred loan origination costs             0 0
Amortization of financing origination fees             0 0
Provision for long-term employee benefits             0 0
Employee benefit plan contributions and payments             0 0
Stock compensation expense             0 0
Net change in wholesale finance receivables related to sales             (294,698) (22,031)
Provision for credit losses 0     0     0 0
Deferred income taxes             (280) (112)
Other, net             (116) 171
Changes in current assets and liabilities:                
Accounts receivable, net             292,919 231,151
Finance receivables – accrued interest and other             0 0
Inventories, net             0 0
Accounts payable and accrued liabilities             (305,924) (241,522)
Other current assets             13,284 10,878
Total adjustments             (294,815) (21,465)
Net cash provided by operating activities             (494,698) (261,637)
Cash flows from investing activities:                
Capital expenditures             0 0
Origination of finance receivables             2,868,466 2,712,705
Collections on finance receivables             (2,573,768) (2,691,068)
Other investing activities             0 0
Net cash used by investing activities             294,698 21,637
Cash flows from financing activities:                
Proceeds from issuance of medium-term notes             0  
Repayments of medium-term notes             0 0
Proceeds from securitization debt             0 0
Repayments of securitization debt             0 0
Borrowings of asset-backed commercial paper             0 0
Repayments of asset-backed commercial paper             0 0
Net decrease in unsecured commercial paper             0 0
Net increase in deposits             0 0
Deposit in advance of business combination             0  
Dividends paid             200,000 240,000
Repurchase of common stock             0 0
Other financing activities             0 0
Net cash provided (used) by financing activities             200,000 240,000
Effect of exchange rate changes on cash, cash equivalents and restricted cash             0 0
Cash, cash equivalents and restricted cash:                
Cash, cash equivalents and restricted cash, beginning of period     $ 0     $ 0 0 0
Net (decrease) increase in cash, cash equivalents and restricted cash             0 0
Cash, cash equivalents and restricted cash, end of period $ 0     $ 0     $ 0 $ 0