XML 59 R39.htm IDEA: XBRL DOCUMENT v3.25.0.1
Additional Balance Sheet and Cash Flow Information (Tables)
 12 Months Ended
Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Marketable Securities
Investments in marketable securities consisted of the following at December 31 (in thousands): 
20242023
Mutual funds$32,070 $34,079 
Schedule of Inventories, Net
Inventories, net consisted of the following as of December 31 (in thousands):
20242023
Raw materials and work in process$353,819 $389,221 
Motorcycle finished goods411,442 514,964 
Parts and accessories and apparel110,591 150,844 
Inventory at lower of FIFO cost or net realizable value875,852 1,055,029 
Excess of FIFO over LIFO cost(130,059)(125,078)
$745,793 $929,951 
Schedule of Property, Plant and Equipment, at Cost
Property, plant and equipment, net consisted of the following as of December 31 (in thousands):
20242023
Land and related improvements$68,140 $66,939 
Buildings and related improvements450,890 431,215 
Machinery and equipment1,503,514 1,491,448 
Software627,161 722,213 
Construction in progress246,933 243,010 
2,896,638 2,954,825 
Accumulated depreciation(2,139,566)(2,223,101)
$757,072 $731,724 
Schedule of Accrued Liabilities
Accrued liabilities consisted of the following as of December 31 (in thousands):
20242023
Interest$85,919 $84,313 
Sales incentive programs80,305 116,167 
Payroll, employee benefits and related expenses66,238 101,955 
Warranty and recalls46,260 41,375 
Contract liability
23,083 23,357 
Tax-related accruals20,029 38,219 
Leases18,658 18,685 
Fair value of derivative financial instruments311 12,806 
Other253,157 209,982 
$593,960 $646,859 
Schedule of Time Deposit Maturities
Future maturities of the Company's certificates of deposit as of December 31, 2024 were as follows (in thousands):
2025$173,737 
2026243,489 
2027
119,263 
2028
— 
2029
15,200 
Future maturities551,689 
Unamortized fees(1,103)
$550,586 
Schedule of Reconciliation of Net Cash Provided by Operating Activities
Operating Cash Flow – The reconciliation of Net income to Net cash provided by operating activities for the years ended December 31, was as follows (in thousands):
202420232022
Cash flows from operating activities:
Net income $445,175 $695,046 $739,214 
Adjustments to reconcile Net income to Net cash provided by operating activities:
Depreciation and amortization160,673 158,112 151,942 
Amortization of deferred loan origination costs70,745 85,018 94,914 
Amortization of financing origination fees13,963 13,208 15,105 
Provision for long-term employee benefits(54,008)(67,624)(21,891)
Employee benefit plan contributions and payments(5,078)(5,736)(14,320)
Stock compensation expense49,005 82,901 54,353 
Net change in wholesale finance receivables related to sales46,884 (387,743)(198,623)
Provision for credit losses247,225 227,158 145,133 
Deferred income taxes(26,276)(30,059)(15,936)
Other, net17,070 (39,713)(13,027)
Changes in current assets and liabilities:
Accounts receivable, net19,778 (11,443)(82,385)
Finance receivables – accrued interest and other36 (339)414 
Inventories, net164,609 21,257 (254,170)
Accounts payable and accrued liabilities(55,436)28,570 4,503 
Other current assets(30,532)(13,726)(56,765)
618,658 59,841 (190,753)
Net cash provided by operating activities$1,063,833 $754,887 $548,461 
Cash paid during the years ended December 31, for interest and income taxes was as follows (in thousands):
202420232022
Interest$358,996 $290,467 $231,651 
Income taxes$111,117 $237,658 $244,374