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Additional Balance Sheet and Cash Flow Information
 3 Months Ended
Mar. 31, 2024
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):
March 31,
2024		December 31,
2023		March 31,
2023
Mutual funds$36,484 $34,079 $34,017 
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 supply chain constraints. Inventories, net consisted of the following (in thousands):
March 31,
2024		December 31,
2023		March 31,
2023
Raw materials and work in process$341,884 $389,221 $387,466 
Motorcycle finished goods422,504 514,964 380,083 
Parts and accessories and apparel144,157 150,844 182,905 
Inventory at lower of FIFO cost or net realizable value908,545 1,055,029 950,454 
Excess of FIFO over LIFO cost(128,970)(125,078)(119,933)
$779,575 $929,951 $830,521 
Deposits – HDFS 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 $441.2 million, $447.8 million, and $369.3 million, net of fees, of interest-bearing brokered certificates of deposit outstanding as of March 31, 2024, December 31, 2023, and March 31, 2023, 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 March 31, 2024 were as follows (in thousands):
2024$163,607 
2025103,496 
2026120,725 
202754,138 
Thereafter— 
Future maturities441,966 
Unamortized fees(798)
$441,168 
Operating Cash Flow – The reconciliation of Net income to Net cash provided by operating activities was as follows (in thousands):
 Three months ended
March 31,
2024		March 31,
2023
Cash flows from operating activities:
Net income$232,233 $301,829 
Adjustments to reconcile Net income to Net cash provided by operating activities:
Depreciation and amortization41,504 34,352 
Amortization of deferred loan origination costs18,282 21,858 
Amortization of financing origination fees3,358 3,011 
Provision for long-term employee benefits(13,933)(16,939)
Employee benefit plan contributions and payments(1,399)(1,739)
Stock compensation expense16,212 23,628 
Net change in wholesale finance receivables related to sales(435,047)(487,314)
Provision for credit losses61,010 52,364 
Deferred income taxes5,399 5,648 
Other, net1,769 (21,671)
Changes in current assets and liabilities:
Accounts receivable, net(47,119)(77,993)
Finance receivables – accrued interest and other
1,213 2,252 
Inventories, net131,529 123,047 
Accounts payable and accrued liabilities53,233 43,787 
Other current assets35,753 40,557 
(128,236)(255,152)
Net cash provided by operating activities$103,997 $46,677