Additional Balance Sheet and Cash Flow Information (Tables)

3 Months Ended

Mar. 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Marketable Securities

The Company’s marketable securities consisted of the following (in thousands):

	March 31, 2019		December 31, 2018		April 1, 2018
Debt securities	$	10,003	$	10,007	$	—
Mutual funds	49,896		44,243		49,402
Total marketable securities	$	59,899	$	54,250	$	49,402

Inventories Net

Inventories consisted of the following (in thousands):

	March 31, 2019			December 31, 2018			April 1, 2018
Raw materials and work in process	$	204,759		$	177,110		$	177,652
Motorcycle finished goods	304,386			301,630			289,046
Parts & accessories and general merchandise	145,300			136,027			150,228
Inventory at lower of FIFO cost or net realizable value	654,445			614,767			616,926
Excess of FIFO over LIFO cost	(58,639		)	(58,639		)	(52,355		)
Total inventories, net	$	595,806		$	556,128		$	564,571

Reconciliation of Net Cash Provided by Operating Activities

The reconciliation of net income to net cash provided by operating activities is as follows (in thousands):

	Three months ended
	March 31, 2019			April 1, 2018
Cash flows from operating activities:
Net income	$	127,945		$	174,763
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of intangibles	64,372			62,473
Amortization of deferred loan origination costs	18,968			20,116
Amortization of financing origination fees	2,194			2,028
Provision for long-term employee benefits	3,156			9,747
Employee benefit plan contributions and payments	(2,507		)	(5,486		)
Stock compensation expense	6,537			7,962
Net change in wholesale finance receivables related to sales	(237,569		)	(239,902		)
Provision for credit losses	34,491			30,052
Deferred income taxes	5,981			3,188
Other, net	2,731			(1,902		)
Changes in current assets and liabilities:
Accounts receivable, net	(49,746		)	(17,688		)
Finance receivables - accrued interest and other	92			4,758
Inventories	(40,600		)	(21,542		)
Accounts payable and accrued liabilities	123,975			148,923
Derivative instruments	867			702
Other	(28,216		)	13,402
Total adjustments	(95,274		)	16,831
Net cash provided by operating activities	$	32,671		$	191,594