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Additional Balance Sheet and Cash Flow Information (Tables) | 6 Months Ended
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Jun. 25, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Marketable Securities | The Company’s marketable securities consisted of the following (in thousands):
| June 25, 2017 |  | December 31, 2016 |  | June 26, 2016
Available-for-sale securities: corporate bonds | $ | — |  |  | $ | 5,519 |  |  | $ | 5,070 |
Trading securities: mutual funds | 44,156 |  |  | 38,119 |  |  | 37,651 |
Total marketable securities | $ | 44,156 |  |  | $ | 43,638 |  |  | $ | 42,721 |
Inventories Net | Inventories consisted of the following (in thousands):
| June 25, 2017 |  | December 31, 2016 |  | June 26, 2016
Components at the lower of FIFO cost or net realizable value |  |  |  |  |
Raw materials and work in process | $ | 117,199 |  |  | $ | 140,639 |  |  | $ | 134,702 |
Motorcycle finished goods | 186,244 |  |  | 285,281 |  |  | 152,035 |
Parts and accessories and general merchandise | 116,836 |  |  | 122,264 |  |  | 133,727 |
Inventory at lower of FIFO cost or net realizable value | 420,279 |  |  | 548,184 |  |  | 420,464 |
Excess of FIFO over LIFO cost | (48,267 | ) |  | (48,267 | ) |  | (49,268 | )
Total inventories, net | $ | 372,012 |  |  | $ | 499,917 |  |  | $ | 371,196 |
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):
| Six months ended
| June 25, 2017 |  | June 26, 2016
Cash flows from operating activities: |  |  |
Net income | $ | 445,236 |  |  | $ | 530,920 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |
Depreciation and amortization of intangibles | 107,578 |  |  | 100,956 |
Amortization of deferred loan origination costs | 40,771 |  |  | 43,555 |
Amortization of financing origination fees | 4,079 |  |  | 5,146 |
Provision for long-term employee benefits | 14,950 |  |  | 19,005 |
Employee benefit plan contributions and payments | (37,307 | ) |  | (35,189 | )
Stock compensation expense | 17,497 |  |  | 15,797 |
Net change in wholesale finance receivables related to sales | (271,927 | ) |  | (442,254 | )
Provision for credit losses | 69,806 |  |  | 60,584 |
Gain on off-balance sheet asset-backed securitization | — |  |  | (9,269 | )
Deferred income taxes | 178 |  |  | (3,548 | )
Other, net | (4,163 | ) |  | (20,508 | )
Changes in current assets and liabilities: |  |  |
Accounts receivable, net | (28,239 | ) |  | (55,109 | )
Finance receivables - accrued interest and other | 2,067 |  |  | (125 | )
Inventories | 138,942 |  |  | 225,586 |
Accounts payable and accrued liabilities | 133,120 |  |  | 53,790 |
Derivative instruments | 3,114 |  |  | (1,474 | )
Other | (8,634 | ) |  | (31,573 | )
Total adjustments | 181,832 |  |  | (74,630 | )
Net cash provided by operating activities | $ | 627,068 |  |  | $ | 456,290 |

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