Asset-Backed Financing (Tables)

6 Months Ended

Jun. 25, 2017

Transfers and Servicing [Abstract]

Assets and Liabilities Related to the On-Balance Sheet Financing

The following tables show the assets and liabilities related to the on-balance sheet asset-backed financings included in the financial statements (in thousands):

	June 25, 2017
	Finance receivables		Allowance for credit losses			Restricted cash		Other assets		Total assets		Asset-backed debt
On-balance sheet assets and liabilities
Consolidated VIEs
Asset-backed securitizations	$	599,754	$	(18,291	)	$	47,980	$	1,360	$	630,803	$	521,300
Asset-backed U.S. commercial paper conduit facilities	298,700		(9,132		)	14,993		810		305,371		279,833
Unconsolidated VIEs
Asset-backed Canadian commercial paper conduit facility	152,248		(2,911		)	11,422		203		160,962		138,739
Total on-balance sheet assets and liabilities	$	1,050,702	$	(30,334	)	$	74,395	$	2,373	$	1,097,136	$	939,872
	December 31, 2016
	Finance receivables		Allowance for credit losses			Restricted cash		Other assets		Total assets		Asset-backed debt
On-balance sheet assets and liabilities
Consolidated VIEs
Asset-backed securitizations	$	893,804	$	(25,468	)	$	57,057	$	2,452	$	927,845	$	796,275
Asset-backed U.S. commercial paper conduit facilities	—		—			—		329		329		—
Unconsolidated VIEs
Asset-backed Canadian commercial paper conduit facility	165,719		(3,573		)	10,090		426		172,662		149,338
Total on-balance sheet assets and liabilities	$	1,059,523	$	(29,041	)	$	67,147	$	3,207	$	1,100,836	$	945,613
	June 26, 2016
	Finance receivables		Allowance for credit losses			Restricted cash		Other assets		Total assets		Asset-backed debt
On-balance sheet assets and liabilities
Consolidated VIEs
Asset-backed securitizations	$	1,173,527	$	(30,431	)	$	79,475	$	2,825	$	1,225,396	$	1,074,931
Asset-backed U.S. commercial paper conduit facilities	—		—			—		222		222		—
Unconsolidated VIEs
Asset-backed Canadian commercial paper conduit facility	177,360		(3,620		)	13,175		332		187,247		161,626
Total on-balance sheet assets and liabilities	$	1,350,887	$	(34,051	)	$	92,650	$	3,379	$	1,412,865	$	1,236,557

Transfers of Canadian Retail Motorcycle Finance Receivable

The following table includes quarterly transfers of Canadian retail motorcycle finance receivables to the Canadian Conduit and the respective proceeds (in thousands):

	2017				2016
	Transfers		Proceeds		Transfers		Proceeds
First quarter	$	6,300	$	5,500	$	6,600	$	5,800
Second quarter	14,200		12,400		31,400		27,500
	$	20,500	$	17,900	$	38,000	$	33,300

Schedule of Servicing Activities

The unpaid principal balance of retail motorcycle finance receivables serviced by the Company was as follows (in thousands):

	June 25, 2017		December 31, 2016		June 26, 2016
On-balance sheet retail motorcycle finance receivables	$	6,121,372	$	5,839,467	$	5,872,668
Off-balance sheet retail motorcycle finance receivables	187,769		236,706		292,176
Total serviced retail motorcycle finance receivables	$	6,309,141	$	6,076,173	$	6,164,844

The unpaid principal balance of retail motorcycle finance receivables serviced by the Company 30 days or more delinquent was as follows (in thousands):

	Amount 30 days or more past due:
	June 25, 2017		December 31, 2016		June 26, 2016
On-balance sheet retail motorcycle finance receivables	$	180,619	$	221,393	$	168,091
Off-balance sheet retail motorcycle finance receivables	1,659		1,858		460
Total serviced retail motorcycle finance receivables	$	182,278	$	223,251	$	168,551

Credit losses, net of recoveries for the retail motorcycle finance receivables serviced by the Company were as follows (in thousands):

	Three months ended				Six months ended
	June 25, 2017		June 26, 2016		June 25, 2017		June 26, 2016
On-balance sheet retail motorcycle finance receivables	$	16,719	$	15,001	$	49,621	$	43,118
Off-balance sheet retail motorcycle finance receivables	152		15		566		15
Total serviced retail motorcycle finance receivables	$	16,871	$	15,016	$	50,187	$	43,133