Fair Value (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

Recurring Fair Value Measurements – The Company’s assets and liabilities measured at fair value on a recurring basis as of December 31, were as follows (in thousands):


	2023
	Balance		Level 1		Level 2
Assets:
Cash equivalents	$	1,067,755	$	898,000	$	169,755
Marketable securities	34,079		34,079		—

Derivative financial instruments	19,073		—		19,073
	$	1,120,907	$	932,079	$	188,828
Liabilities:
Derivative financial instruments	$	12,806	$	—	$	12,806
LiveWire warrants	12,319		8,059		4,260
	$	25,125	$	8,059	$	17,066



	2022
	Balance		Level 1		Level 2
Assets:
Cash equivalents	$	805,629	$	594,000	$	211,629
Marketable securities	33,071		33,071		—

Derivative financial instruments	8,737		—		8,737
	$	847,437	$	627,071	$	220,366
Liabilities:
Derivative financial instruments	$	50,261	$	—	$	50,261
LiveWire warrants	8,388		5,500		2,888
	$	58,649	$	5,500	$	53,149

Schedule of the Fair Value and Carrying Value of the Company's Financial Instruments

The fair value and carrying value of the Company’s remaining financial instruments that are measured at cost or amortized cost at December 31, were as follows (in thousands):


	2023				2022
	Fair Value		Carrying Value		Fair Value		Carrying Value
Assets:
Finance receivables, net	$	7,500,263	$	7,498,265	$	7,248,353	$	7,138,438
Liabilities:
Deposits, net	$	460,766	$	447,782	$	339,981	$	317,375
Debt:
Unsecured commercial paper	$	878,935	$	878,935	$	770,468	$	770,468
Asset-backed U.S. commercial paper conduit facilities	$	233,258	$	233,258	$	425,794	$	425,794
Asset-backed Canadian commercial paper conduit facility	$	70,742	$	70,742	$	71,785	$	71,785
Asset-backed securitization debt	$	1,872,215	$	1,877,368	$	1,996,550	$	2,019,414
Medium-term notes	$	3,308,952	$	3,319,138	$	2,760,093	$	2,879,473
Senior notes	$	674,787	$	746,079	$	661,630	$	745,368