Supplemental Consolidating Data (Tables)

3 Months Ended

Mar. 29, 2015

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Operations

	Three months ended March 29, 2015
	Motorcycles & Related Products Operations		Financial Services Operations		Eliminations			Consolidated
Revenue:
Motorcycles and Related Products	$	1,512,882	$	—	$	(2,312	)	$	1,510,570
Financial Services	—		162,690		(315		)	162,375
Total revenue	1,512,882		162,690		(2,627		)	1,672,945
Costs and expenses:
Motorcycles and Related Products cost of goods sold	920,295		—		—			920,295
Financial Services interest expense	—		38,536		—			38,536
Financial Services provision for credit losses	—		26,247		—			26,247
Selling, administrative and engineering expense	245,135		35,241		(2,627		)	277,749
Total costs and expenses	1,165,430		100,024		(2,627		)	1,262,827
Operating income	347,452		62,666		—			410,118
Investment income	101,322		—		(100,000		)	1,322
Interest expense	9		—		—			9
Income before provision for income taxes	448,765		62,666		(100,000		)	411,431
Provision for income taxes	121,516		20,061		—			141,577
Net income	$	327,249	$	42,605	$	(100,000	)	$	269,854

	Three months ended March 30, 2014
	Motorcycles & Related Products Operations		Financial Services Operations		Eliminations			Consolidated
Revenue:
Motorcycles and Related Products	$	1,573,967	$	—	$	(2,279	)	$	1,571,688
Financial Services	—		154,686		(326		)	154,360
Total revenue	1,573,967		154,686		(2,605		)	1,726,048
Costs and expenses:
Motorcycles and Related Products cost of goods sold	979,557		—		—			979,557
Financial Services interest expense	—		38,857		—			38,857
Financial Services provision for credit losses	—		20,331		—			20,331
Selling, administrative and engineering expense	244,765		34,261		(2,605		)	276,421
Total costs and expenses	1,224,322		93,449		(2,605		)	1,315,166
Operating income	349,645		61,237		—			410,882
Investment income	121,659		—		(120,000		)	1,659
Interest expense	3,677		—		—			3,677
Income before provision for income taxes	467,627		61,237		(120,000		)	408,864
Provision for income taxes	120,573		22,374		—			142,947
Net income	$	347,054	$	38,863	$	(120,000	)	$	265,917

Balance Sheet

	March 29, 2015
	Motorcycles & Related Products Operations		Financial Services Operations		Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	764,175	$	404,549	$	—		$	1,168,724
Marketable securities	57,219		—		—			57,219
Accounts receivable, net	784,268		—		(503,771		)	280,497
Finance receivables, net	—		2,357,993		—			2,357,993
Inventories	480,941		—		—			480,941
Restricted cash	—		120,428		—			120,428
Deferred income taxes	42,819		40,700		—			83,519
Other current assets	128,579		35,905		—			164,484
Total current assets	2,258,001		2,959,575		(503,771		)	4,713,805
Finance receivables, net	—		4,490,599		—			4,490,599
Property, plant and equipment, net	840,354		33,164		—			873,518
Goodwill	25,632		—		—			25,632
Deferred income taxes	62,826		10,808		(1,458		)	72,176
Other long-term assets	117,760		48,943		(78,609		)	88,094
	$	3,304,573	$	7,543,089	$	(583,838	)	$	10,263,824
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	369,143	$	575,548	$	(503,771	)	$	440,920
Accrued liabilities	398,922		99,563		(1,458		)	497,027
Short-term debt	—		70,329		—			70,329
Current portion of long-term debt	—		1,500,611		—			1,500,611
Total current liabilities	768,065		2,246,051		(505,229		)	2,508,887
Long-term debt	—		4,357,538		—			4,357,538
Pension liability	71,263		—		—			71,263
Postretirement healthcare benefits	199,645		—		—			199,645
Other long-term liabilities	164,993		25,658		—			190,651
Shareholders’ equity	2,100,607		913,842		(78,609		)	2,935,840
	$	3,304,573	$	7,543,089	$	(583,838	)	$	10,263,824

	December 31, 2014
	Motorcycles & Related Products Operations		Financial Services Operations		Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	573,895	$	332,785	$	—		$	906,680
Marketable securities	57,325		—		—			57,325
Accounts receivable, net	658,735		—		(411,114		)	247,621
Finance receivables, net	—		1,916,635		—			1,916,635
Inventories	448,871		—		—			448,871
Restricted cash	—		98,627		—			98,627
Deferred income taxes	50,015		39,901		—			89,916
Other current assets	142,278		43,125		(2,983		)	182,420
Total current assets	1,931,119		2,431,073		(414,097		)	3,948,095
Finance receivables, net	—		4,516,246		—			4,516,246
Property, plant and equipment, net	848,661		34,416		—			883,077
Goodwill	27,752		—		—			27,752
Deferred income taxes	75,121		4,863		(2,149		)	77,835
Other long-term assets	113,727		39,309		(77,944		)	75,092
	$	2,996,380	$	7,025,907	$	(494,190	)	$	9,528,097
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	171,098	$	436,884	$	(411,114	)	$	196,868
Accrued liabilities	370,652		83,797		(5,132		)	449,317
Short-term debt	—		731,786		—			731,786
Current portion of long-term debt	—		1,011,315		—			1,011,315
Total current liabilities	541,750		2,263,782		(416,246		)	2,389,286
Long-term debt	—		3,761,528		—			3,761,528
Pension liability	76,186		—		—			76,186
Postretirement healthcare benefits	203,006		—		—			203,006
Other long-term liabilities	164,060		24,745		—			188,805
Shareholders’ equity	2,011,378		975,852		(77,944		)	2,909,286
	$	2,996,380	$	7,025,907	$	(494,190	)	$	9,528,097

	March 30, 2014
	Motorcycles & Related Products Operations		Financial Services Operations		Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	548,292	$	387,528	$	—		$	935,820
Marketable securities	92,940		—		—			92,940
Accounts receivable, net	1,240,820		—		(915,841		)	324,979
Finance receivables, net	—		2,223,199		—			2,223,199
Inventories	449,044		—		—			449,044
Restricted cash	—		117,883		—			117,883
Other current assets	146,994		69,612		—			216,606
Total current assets	2,478,090		2,798,222		(915,841		)	4,360,471
Finance receivables, net	—		4,214,496		—			4,214,496
Property, plant and equipment, net	789,194		33,867		—			823,061
Prepaid pension costs	250,575		—		—			250,575
Goodwill	30,427		—		—			30,427
Deferred income taxes	3,023		—		—			3,023
Other long-term assets	110,763		12,743		(75,768		)	47,738
	$	3,662,072	$	7,059,328	$	(991,609	)	$	9,729,791
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	377,780	$	992,427	$	(915,841	)	$	454,366
Accrued liabilities	466,685		101,807		(1,737		)	566,755
Short-term debt	—		974,153		—			974,153
Current portion of long-term debt	—		848,840		—			848,840
Total current liabilities	844,465		2,917,227		(917,578		)	2,844,114
Long-term debt	—		3,271,648		—			3,271,648
Pension liability	37,261		—		—			37,261
Postretirement healthcare liability	212,887		—		—			212,887
Deferred income taxes	31,864		2,372		1,737			35,973
Other long-term liabilities	146,641		21,432		—			168,073
Shareholders’ equity	2,388,954		846,649		(75,768		)	3,159,835
	$	3,662,072	$	7,059,328	$	(991,609	)	$	9,729,791

Cash Flows

	Three months ended March 29, 2015
	Motorcycles & Related Products Operations			Financial Services Operations			Eliminations & Adjustments			Consolidated
Cash flows from operating activities:
Net income	$	327,249		$	42,605		$	(100,000	)	$	269,854
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation	43,947			2,081			—			46,028
Amortization of deferred loan origination costs	—			22,932			—			22,932
Amortization of financing origination fees	—			2,215			—			2,215
Provision for employee long-term benefits	12,318			—			—			12,318
Contributions to pension and postretirement plans	(6,627		)	—			—			(6,627		)
Stock compensation expense	7,381			665			—			8,046
Net change in wholesale finance receivables related to sales	—			—			(465,598		)	(465,598		)
Provision for credit losses	—			26,247			—			26,247
Deferred income taxes	6,594			(3,774		)	—			2,820
Foreign currency adjustments	18,154			—			—			18,154
Other, net	(1,893		)	(614		)	—			(2,507		)
Change in current assets and current liabilities:
Accounts receivable	(392,593		)	—			342,657			(49,936		)
Finance receivables—accrued interest and other	—			2,067			—			2,067
Inventories	(51,934		)	—			—			(51,934		)
Accounts payable and accrued liabilities	241,052			406,607			(342,557		)	305,102
Derivative instruments	399			—			—			399
Other	27,082			8,038			—			35,120
Total adjustments	(96,120		)	466,464			(465,498		)	(95,154		)
Net cash provided by operating activities	231,129			509,069			(565,498		)	174,700

	Three months ended March 29, 2015
	Motorcycles & Related Products Operations			Financial Services Operations			Eliminations & Adjustments			Consolidated
Cash flows from investing activities:
Capital expenditures	(37,240		)	(829		)	—			(38,069		)
Origination of finance receivables	—			(2,008,170		)	1,255,766			(752,404		)
Collections of finance receivables	—			1,519,934			(790,268		)	729,666
Other	9			—			—			9
Net cash used by investing activities	(37,231		)	(489,065		)	465,498			(60,798		)
Cash flows from financing activities:
Proceeds from issuance of medium-term notes	—			595,386			—			595,386
Intercompany borrowing activity	250,000			(250,000		)	—			—
Proceeds from securitization debt	—			697,591			—			697,591
Repayments of securitization debt	—			(200,695		)	—			(200,695		)
Net decrease in credit facilities and unsecured commercial paper	—			(661,241		)	—			(661,241		)
Borrowings of asset-backed commercial paper	—			16,798			—			16,798
Repayments of asset-backed commercial paper	—			(15,744		)	—			(15,744		)
Net change in restricted cash	—			(28,579		)	—			(28,579		)
Dividends paid	(65,467		)	(100,000		)	100,000			(65,467		)
Purchase of common stock for treasury	(192,700		)	—			—			(192,700		)
Excess tax benefits from share-based payments	2,207			—			—			2,207
Issuance of common stock under employee stock option plans	9,605			—			—			9,605
Net cash provided by financing activities	3,645			53,516			100,000			157,161
Effect of exchange rate changes on cash and cash equivalents	(7,263		)	(1,756		)	—			(9,019		)
Net increase in cash and cash equivalents	$	190,280		$	71,764		$	—		$	262,044
Cash and cash equivalents:
Cash and cash equivalents—beginning of period	$	573,895		$	332,785		$	—		$	906,680
Net increase in cash and cash equivalents	190,280			71,764			—			262,044
Cash and cash equivalents—end of period	$	764,175		$	404,549		$	—		$	1,168,724

	Three months ended March 30, 2014
	Motorcycles & Related Products Operations			Financial Services Operations			Eliminations & Adjustments			Consolidated
Cash flows from operating activities:
Net income	$	347,054		$	38,863		$	(120,000	)	$	265,917
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation	41,603			1,795			—			43,398
Amortization of deferred loan origination costs	—			22,101			—			22,101
Amortization of financing origination fees	59			2,026			—			2,085
Provision for employee long-term benefits	8,425			—			—			8,425
Contributions to pension and postretirement plans	(6,879		)	—			—			(6,879		)
Stock compensation expense	8,550			689			—			9,239
Net change in wholesale finance receivables related to sales	—			—			(439,422		)	(439,422		)
Provision for credit losses	—			20,331			—			20,331
Deferred income taxes	3,159			(3,633		)	—			(474		)
Foreign currency adjustments	(4,172		)	—			—			(4,172		)
Other, net	(496		)	3,551			—			3,055
Change in current assets and current liabilities:
Accounts receivable	(387,875		)	—			326,658			(61,217		)
Finance receivables—accrued interest and other	—			793			—			793
Inventories	(20,317		)	—			—			(20,317		)
Accounts payable and accrued liabilities	290,208			392,880			(326,658		)	356,430
Derivative instruments	1,222			—			—			1,222
Other	1,770			1,301			—			3,071
Total adjustments	(64,743		)	441,834			(439,422		)	(62,331		)
Net cash provided by operating activities	282,311			480,697			(559,422		)	203,586
Cash flows from investing activities:
Capital expenditures	(24,691		)	(1,190		)	—			(25,881		)
Origination of finance receivables	—			(1,992,601		)	1,234,636			(757,965		)
Collections of finance receivables	—			1,502,645			(795,214		)	707,431
Sales and redemptions of marketable securities	6,001			—			—			6,001
Other	51			—			—			51
Net cash used by investing activities	(18,639		)	(491,146		)	439,422			(70,363		)
Cash flows from financing activities:
Repayments of senior unsecured notes	(303,000		)	—			—			(303,000		)
Repayments of securitization debt	—			(159,938		)	—			(159,938		)
Net increase in credit facilities and unsecured commercial paper	—			307,803			—			307,803
Borrowings of asset-backed commercial paper	—			13,746			—			13,746
Repayments of asset-backed commercial paper	—			(16,981		)	—			(16,981		)
Net change in restricted cash	—			26,924			—			26,924
Dividends paid	(60,527		)	(120,000		)	120,000			(60,527		)
Purchase of common stock for treasury	(87,690		)	—			—			(87,690		)
Excess tax benefits from share-based payments	4,763			—			—			4,763
Issuance of common stock under employee stock option plans	8,894			—			—			8,894
Net cash (used by) provided by financing activities	(437,560		)	51,554			120,000			(266,006		)
Effect of exchange rate changes on cash and cash equivalents	3,268			(1,277		)	—			1,991
Net (decrease) increase in cash and cash equivalents	$	(170,620	)	$	39,828		$	—		$	(130,792	)
Cash and cash equivalents:
Cash and cash equivalents—beginning of period	$	718,912		$	347,700		$	—		$	1,066,612
Net (decrease) increase in cash and cash equivalents	(170,620		)	39,828			—			(130,792		)
Cash and cash equivalents—end of period	$	548,292		$	387,528		$	—		$	935,820