XML 26 R15.htm IDEA: XBRL DOCUMENT
v3.19.1

Additional Balance Sheet and Cash Flow Information | 3 Months Ended
--- | ---
Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Additional Balance Sheet and Cash Flow Information | Additional Balance Sheet and Cash Flow Information Investments in 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 |
The debt securities, which are included in Marketable securities on the consolidated balance sheets, are carried at fair value with unrealized gains or losses reported in other comprehensive income. The mutual fund investments are held to fund certain deferred compensation obligations. These investments, which are included in Other long-term assets on the consolidated balance sheets, are carried at fair value with gains and losses recorded in net income. Inventories Substantially all inventories located in the United States are valued using the last-in, first-out (LIFO) method. Other inventories are valued at the lower of cost or net realizable value using the first-in, first-out (FIFO) method. 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 |
Operating Cash Flow 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 |

X
- Definition The entire disclosures of supplemental information, including descriptions and amounts, related to the balance sheet, income statement, and/or cash flow statement. + References No definition available. + Details
Name: | us-gaap_AdditionalFinancialInformationDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration