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Derivative Instruments and Hedging Activities (Tables) | 6 Months Ended
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Jun. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivative Instrument Fair Value | The following tables summarize the notional and recorded fair values of the Company’s derivative financial instruments (in thousands):
|  | Derivatives Designated as Cash Flow Hedging Instruments Under ASC Topic 815
|  | June 30, 2019 |  | December 31, 2018 |  | July 1, 2018
Derivative |  | Notional Value |  | Other Current Assets |  | Accrued Liabil-ities |  | Notional Value |  | Other Current Assets |  | Accrued Liabil-ities |  | Notional Value |  | Other Current Assets |  | Accrued Liabil-ities
Foreign currency contracts |  | $ | 495,736 |  |  | $ | 6,638 |  |  | $ | 3,490 |  |  | $ | 442,976 |  |  | $ | 15,071 |  |  | $ | 313 |  |  | $ | 591,901 |  |  | $ | 13,238 |  |  | $ | — |
Commodity contracts |  | 627 |  |  | — |  |  | 69 |  |  | 827 |  |  | — |  |  | 46 |  |  | 803 |  |  | 4 |  |  | — |
Interest rate swaps |  | 900,000 |  |  | — |  |  | 11,920 |  |  | 900,000 |  |  | — |  |  | 4,494 |  |  | 450,000 |  |  | — |  |  | 597 |
Total |  | $ | 1,396,363 |  |  | $ | 6,638 |  |  | $ | 15,479 |  |  | $ | 1,343,803 |  |  | $ | 15,071 |  |  | $ | 4,853 |  |  | $ | 1,042,704 |  |  | $ | 13,242 |  |  | $ | 597 |
|  | Derivatives Not Designated as Hedging Instruments Under ASC Topic 815
|  | June 30, 2019 |  | December 31, 2018 |  | July 1, 2018
Derivative |  | Notional Value |  | Other Current Assets |  | Accrued Liabil-ities |  | Notional Value |  | Other Current Assets |  | Accrued Liabil-ities |  | Notional Value |  | Other Current Assets |  | Accrued Liabil-ities
Foreign currency contracts |  | $ | 317,344 |  |  | $ | 273 |  |  | $ | 1,816 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Commodity contracts |  | 7,710 |  |  | 5 |  |  | 260 |  |  | 5,239 |  |  | — |  |  | 463 |  |  | 4,421 |  |  | 204 |  |  | 28 |
Interest rate cap |  | 481,509 |  |  | 4 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | $ | 806,563 |  |  | $ | 282 |  |  | $ | 2,076 |  |  | $ | 5,239 |  |  | $ | — |  |  | $ | 463 |  |  | $ | 4,421 |  |  | $ | 204 |  |  | $ | 28 |
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) | The following tables summarize the amount of gains and losses related to derivative financial instruments designated as cash flow hedges (in thousands):
|  | Amount of Gain/(Loss) Recognized in OCI, before tax |  | Amount of Gain/(Loss) Reclassified from AOCL into Income |  | Location of Gain/(Loss) Reclassified from AOCL into Income |  | Total Statement of Income Amount for Line Items in which the Effects of Cash Flow Hedges are Recorded
|  | Three months ended |  |  |  | Three months ended
Cash Flow Hedges |  | June 30, 2019 |  | July 1, 2018 |  | June 30, 2019 |  | July 1, 2018 |  | Statement of Income line item |  | June 30, 2019 |  | July 1, 2018
Foreign currency contracts |  | $ | (2,865 | ) |  | $ | 32,635 |  |  | $ | 7,668 |  |  | $ | 956 |  |  | Motorcycles cost of goods sold |  | $ | 979,266 |  |  | $ | 993,036 |
Commodity contracts |  | (70 | ) |  | 4 |  |  | (7 | ) |  | (12 | ) |  | Motorcycles cost of goods sold |  | $ | 979,266 |  |  | $ | 993,036 |
Treasury rate locks |  | — |  |  | — |  |  | (91 | ) |  | (91 | ) |  | Interest expense |  | $ | 7,784 |  |  | $ | 7,728 |
Treasury rate locks |  | — |  |  | 41 |  |  | (32 | ) |  | (34 | ) |  | Financial Services interest expense |  | $ | 52,673 |  |  | $ | 51,943 |
Interest rate swaps |  | (5,856 | ) |  | (886 | ) |  | (830 | ) |  | (289 | ) |  | Financial Services interest expense |  | $ | 52,673 |  |  | $ | 51,943 |
Total |  | $ | (8,791 | ) |  | $ | 31,794 |  |  | $ | 6,708 |  |  | $ | 530 |  |  |  |  |  |  |
|  | Amount of Gain/(Loss) Recognized in OCI, before tax |  | Amount of Gain/(Loss) Reclassified from AOCL into Income |  | Location of Gain/(Loss) Reclassified from AOCL into Income |  | Total Statement of Income Amount for Line Items in which the Effects of Cash Flow Hedges are Recorded
|  | Six months ended |  |  |  | Six months ended
Cash Flow Hedges |  | June 30, 2019 |  | July 1, 2018 |  | June 30, 2019 |  | July 1, 2018 |  | Statement of Income line item |  | June 30, 2019 |  | July 1, 2018
Foreign currency contracts |  | $ | 1,287 |  |  | $ | 26,745 |  |  | $ | 10,121 |  |  | $ | (5,753 | ) |  | Motorcycles cost of goods sold |  | $ | 1,827,464 |  |  | $ | 1,883,210 |
Commodity contracts |  | (40 | ) |  | (12 | ) |  | (17 | ) |  | (85 | ) |  | Motorcycles cost of goods sold |  | $ | 1,827,464 |  |  | $ | 1,883,210 |
Treasury rate locks |  | — |  |  | — |  |  | (181 | ) |  | (181 | ) |  | Interest expense |  | $ | 15,515 |  |  | $ | 15,418 |
Treasury rate locks |  | — |  |  | 41 |  |  | (64 | ) |  | (70 | ) |  | Financial Services interest expense |  | $ | 104,997 |  |  | $ | 100,393 |
Interest rate swaps |  | (8,861 | ) |  | (886 | ) |  | (1,436 | ) |  | (289 | ) |  | Financial Services Interest expense |  | $ | 104,997 |  |  | $ | 100,393 |
Total |  | $ | (7,614 | ) |  | $ | 25,888 |  |  | $ | 8,423 |  |  | $ | (6,378 | ) |  |  |  |  |  |
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location | The following table summarizes the amount of gains and losses recognized in income related to derivative financial instruments not designated as hedging instruments (in thousands). Foreign currency contracts and commodity contracts were recorded in Motorcycles cost of goods sold and the interest rate cap was recorded in Financial services interest expense.
|  | Amount of Gain (Loss) Recognized in Income on Derivative
|  | Three months ended |  | Six months ended
Derivatives Not Designated as Hedges |  | June 30, 2019 |  | July 1, 2018 |  | June 30, 2019 |  | July 1, 2018
Foreign currency contracts |  | $ | (1,004 | ) |  | $ | — |  |  | $ | (117 | ) |  | $ | — |
Commodity contracts |  | (310 | ) |  | 195 |  |  | 7 |  |  | 201 |
Interest rate cap |  | (141 | ) |  | — |  |  | (141 | ) |  | — |
Total |  | $ | (1,455 | ) |  | $ | 195 |  |  | $ | (251 | ) |  | $ | 201 |

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