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Additional Balance Sheet and Cash Flow Information (Tables) | 9 Months Ended
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Sep. 25, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Marketable Securities | The Company’s marketable securities consisted of the following (in thousands):
| September 25, 2016 |  | December 31, 2015 |  | September 27, 2015
Available-for-sale: Corporate bonds | $ | 5,038 |  |  | $ | 45,192 |  |  | $ | 47,358 |
Trading securities: Mutual funds | 39,063 |  |  | 36,256 |  |  | 35,258 |
| $ | 44,101 |  |  | $ | 81,448 |  |  | $ | 82,616 |
Inventories Net | Inventories consist of the following (in thousands):
| September 25, 2016 |  | December 31, 2015 |  | September 27, 2015
Components at the lower of FIFO cost or market |  |  |  |  |
Raw materials and work in process | $ | 159,209 |  |  | $ | 161,704 |  |  | $ | 153,779 |
Motorcycle finished goods | 182,019 |  |  | 327,952 |  |  | 228,243 |
Parts and accessories and general merchandise | 134,587 |  |  | 145,519 |  |  | 134,537 |
Inventory at lower of FIFO cost or market | 475,815 |  |  | 635,175 |  |  | 516,559 |
Excess of FIFO over LIFO cost | (49,268 | ) |  | (49,268 | ) |  | (49,902 | )
| $ | 426,547 |  |  | $ | 585,907 |  |  | $ | 466,657 |
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):
| Nine months ended
| September 25, 2016 |  | September 27, 2015
Cash flows from operating activities: |  |  |
Net income | $ | 644,985 |  |  | $ | 710,011 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |
Depreciation and amortization of intangibles | 154,565 |  |  | 142,024 |
Amortization of deferred loan origination costs | 65,445 |  |  | 71,012 |
Amortization of financing origination fees | 7,212 |  |  | 7,331 |
Provision for long-term employee benefits | 27,608 |  |  | 36,954 |
Employee benefit plan contributions and payments | (47,658 | ) |  | (19,358 | )
Stock compensation expense | 24,909 |  |  | 23,732 |
Net change in wholesale finance receivables related to sales | (169,599 | ) |  | (157,532 | )
Provision for credit losses | 97,127 |  |  | 68,655 |
Gain on off-balance sheet asset-backed securitization | (9,269 | ) |  | — |
Loss on debt extinguishment | 118 |  |  | — |
Pension plan settlement expense | 900 |  |  | — |
Deferred income taxes | (11,261 | ) |  | (9,272 | )
Foreign currency adjustments | (11,741 | ) |  | 22,010 |
Other, net | (11,529 | ) |  | 5,000 |
Changes in current assets and liabilities: |  |  |
Accounts receivable, net | (86,796 | ) |  | (60,687 | )
Finance receivables—accrued interest and other | 364 |  |  | (98 | )
Inventories | 173,975 |  |  | (36,109 | )
Accounts payable and accrued liabilities | 97,190 |  |  | 211,045 |
Derivative instruments | (1,992 | ) |  | (6,734 | )
Other | (16,744 | ) |  | 12,973 |
Total adjustments | 282,824 |  |  | 310,946 |
Net cash provided by operating activities | $ | 927,809 |  |  | $ | 1,020,957 |

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