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Asset-Backed Financing (Tables) | 6 Months Ended
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Jun. 30, 2019
Transfers and Servicing [Abstract] |
Assets and Liabilities Related to the On-Balance Sheet Financing | The following tables show the assets and liabilities related to the on-balance sheet asset-backed financings included in the financial statements (in thousands):
| June 30, 2019
| Finance receivables |  | Allowance for credit losses |  | Restricted cash |  | Other assets |  | Total assets |  | Asset-backed debt
On-balance sheet assets and liabilities |  |  |  |  |  |  |  |  |  |  |
Consolidated VIEs |  |  |  |  |  |  |  |  |  |  |
Asset-backed securitizations | $ | 1,106,973 |  |  | $ | (32,426 | ) |  | $ | 52,593 |  |  | $ | 277 |  |  | $ | 1,127,417 |  |  | $ | 1,002,869 |
Asset-backed U.S. commercial paper conduit facilities | 500,895 |  |  | (14,651 | ) |  | 26,843 |  |  | 1,256 |  |  | 514,343 |  |  | 464,136 |
Unconsolidated VIEs |  |  |  |  |  |  |  |  |  |  |
Asset-backed Canadian commercial paper conduit facility | 171,944 |  |  | (3,058 | ) |  | 9,824 |  |  | 272 |  |  | 178,982 |  |  | 148,740 |
Total on-balance sheet assets and liabilities | $ | 1,779,812 |  |  | $ | (50,135 | ) |  | $ | 89,260 |  |  | $ | 1,805 |  |  | $ | 1,820,742 |  |  | $ | 1,615,745 |
| December 31, 2018
| Finance receivables |  | Allowance for credit losses |  | Restricted cash |  | Other assets |  | Total assets |  | Asset-backed debt
On-balance sheet assets and liabilities |  |  |  |  |  |  |  |  |  |  |
Consolidated VIEs |  |  |  |  |  |  |  |  |  |  |
Asset-backed securitizations | $ | 158,718 |  |  | $ | (4,691 | ) |  | $ | 17,191 |  |  | $ | 329 |  |  | $ | 171,547 |  |  | $ | 95,167 |
Asset-backed U.S. commercial paper conduit facilities | 631,588 |  |  | (18,733 | ) |  | 30,012 |  |  | 1,234 |  |  | 644,101 |  |  | 582,717 |
Unconsolidated VIEs |  |  |  |  |  |  |  |  |  |  |
Asset-backed Canadian commercial paper conduit facility | 181,774 |  |  | (3,130 | ) |  | 8,779 |  |  | 343 |  |  | 187,766 |  |  | 155,951 |
Total on-balance sheet assets and liabilities | $ | 972,080 |  |  | $ | (26,554 | ) |  | $ | 55,982 |  |  | $ | 1,906 |  |  | $ | 1,003,414 |  |  | $ | 833,835 |
| July 1, 2018
| Finance receivables |  | Allowance for credit losses |  | Restricted cash |  | Other assets |  | Total assets |  | Asset-backed debt
On-balance sheet assets and liabilities |  |  |  |  |  |  |  |  |  |  |
Consolidated VIEs |  |  |  |  |  |  |  |  |  |  |
Asset-backed securitizations | $ | 229,201 |  |  | $ | (6,943 | ) |  | $ | 21,912 |  |  | $ | 465 |  |  | $ | 244,635 |  |  | $ | 169,430 |
Asset-backed U.S. commercial paper conduit facilities | 319,758 |  |  | (9,710 | ) |  | 17,845 |  |  | 815 |  |  | 328,708 |  |  | 300,000 |
Unconsolidated VIEs |  |  |  |  |  |  |  |  |  |  |
Asset-backed Canadian commercial paper conduit facility | 192,979 |  |  | (3,405 | ) |  | 11,176 |  |  | 274 |  |  | 201,024 |  |  | 166,638 |
Total on-balance sheet assets and liabilities | $ | 741,938 |  |  | $ | (20,058 | ) |  | $ | 50,933 |  |  | $ | 1,554 |  |  | $ | 774,367 |  |  | $ | 636,068 |
Quarterly Transfers Related to Finance Receivables | The following table includes quarterly transfers of Canadian retail motorcycle finance receivables to the Canadian Conduit and the respective proceeds (in thousands):
| 2019 |  | 2018
| Transfers |  | Proceeds |  | Transfers |  | Proceeds
First quarter | $ | — |  |  | $ | — |  |  | $ | 7,600 |  |  | $ | 6,200 |
Second quarter | 28,200 |  |  | 23,400 |  |  | 38,900 |  |  | 32,200 |
| $ | 28,200 |  |  | $ | 23,400 |  |  | $ | 46,500 |  |  | $ | 38,400 |
The following table includes quarterly transfers of U.S. retail motorcycle finance receivables to the U.S. Conduit Facilities and the respective proceeds (in thousands):
| 2019 |  | 2018
| Transfers |  | Proceeds |  | Transfers |  | Proceeds
First quarter | $ | — |  |  | $ | — |  |  | $ | 32,900 |  |  | $ | 29,300 |
Second quarter | — |  |  | — |  |  | 59,100 |  |  | 53,300 |
| $ | — |  |  | $ | — |  |  | $ | 92,000 |  |  | $ | 82,600 |
Schedule of Servicing Activities | The unpaid principal balance of retail motorcycle finance receivables serviced by the Company was as follows (in thousands):
| June 30, 2019 |  | December 31, 2018 |  | July 1, 2018
On-balance sheet retail motorcycle finance receivables | $ | 6,441,261 |  |  | $ | 6,185,350 |  |  | $ | 6,227,634 |
Off-balance sheet retail motorcycle finance receivables | 54,699 |  |  | 79,613 |  |  | 109,578 |
Total serviced retail motorcycle finance receivables | $ | 6,495,960 |  |  | $ | 6,264,963 |  |  | $ | 6,337,212 |
The unpaid principal balance of retail motorcycle finance receivables serviced by the Company 30 days or more delinquent was as follows (in thousands):
| June 30, 2019 |  | December 31, 2018 |  | July 1, 2018
On-balance sheet retail motorcycle finance receivables | $ | 190,208 |  |  | $ | 228,015 |  |  | $ | 175,020 |
Off-balance sheet retail motorcycle finance receivables | 1,065 |  |  | 1,658 |  |  | 1,591 |
Total serviced retail motorcycle finance receivables | $ | 191,273 |  |  | $ | 229,673 |  |  | $ | 176,611 |
Credit losses, net of recoveries for the retail motorcycle finance receivables serviced by the Company were as follows (in thousands):
| Three months ended |  | Six months ended
| June 30, 2019 |  | July 1, 2018 |  | June 30, 2019 |  | July 1, 2018
On-balance sheet retail motorcycle finance receivables | $ | 22,259 |  |  | $ | 15,300 |  |  | $ | 55,763 |  |  | $ | 47,473 |
Off-balance sheet retail motorcycle finance receivables | 161 |  |  | 137 |  |  | 392 |  |  | 498 |
Total serviced retail motorcycle finance receivables | $ | 22,420 |  |  | $ | 15,437 |  |  | $ | 56,155 |  |  | $ | 47,971 |

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- Definition Tabular disclosure of a transferor's continuing involvement with financial assets transferred to a transferee in a securitization, asset-backed financing arrangement, or similar transfer. Such disclosure would, at a minimum, contain information allowing for an assessment of the reasons for the transferor's continuing involvement, the risks related to the transferred financial assets to which the transferor continues to be exposed, and the extent of change to the transferor's risk profile due to the transfer (including, but not limited to, credit risk, interest rate risk, other). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=118948506&loc=d3e107314-111719 + Details
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- Definition Tabular disclosure of derecognized financial assets from transactions which comprise an initial transfer and an agreement entered into in contemplation of the initial transfer resulting in retention of substantially all of the exposure to the economic return throughout the term of the transaction. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 20 -Section 50 -Paragraph 4D -URI http://asc.fasb.org/extlink&oid=118948506&loc=SL51823488-111719 + Details
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