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v3.20.1

Asset-Backed Financing (Tables) | 3 Months Ended
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Mar. 29, 2020
Transfers and Servicing [Abstract] |
Assets and Liabilities Related to the On-Balance Sheet Financing | The assets and liabilities related to the on-balance sheet asset-backed financings included in the Consolidated balance sheets were as follows (in thousands):
| March 29, 2020 |  |  |  |  |  |  |  |  |  |
| 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 | $ | 1,250,382 |  |  | $ | (62,159) |  |  | $ | 61,945 |  |  | $ | 852 |  |  | $ | 1,251,020 |  |  | $ | 1,156,845 |
Asset-backed U.S. commercial paper conduit facilities | 662,385 |  |  | (32,872) |  |  | 37,290 |  |  | 1,410 |  |  | 668,213 |  |  | 600,000 |
Unconsolidated VIEs: |  |  |  |  |  |  |  |  |  |  |
Asset-backed Canadian commercial paper conduit facility | 207,538 |  |  | (6,671) |  |  | 10,552 |  |  | 148 |  |  | 211,567 |  |  | 155,243 |
| $ | 2,120,305 |  |  | $ | (101,702) |  |  | $ | 109,787 |  |  | $ | 2,410 |  |  | $ | 2,130,800 |  |  | $ | 1,912,088 |
| December 31, 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 | $ | 826,047 |  |  | $ | (24,935) |  |  | $ | 36,037 |  |  | $ | 778 |  |  | $ | 837,927 |  |  | $ | 764,392 |
Asset-backed U.S. commercial paper conduit facilities | 533,587 |  |  | (16,076) |  |  | 27,775 |  |  | 1,642 |  |  | 546,928 |  |  | 490,427 |
Unconsolidated VIEs: |  |  |  |  |  |  |  |  |  |  |
Asset-backed Canadian commercial paper conduit facility | 232,699 |  |  | (2,786) |  |  | 7,686 |  |  | 296 |  |  | 237,895 |  |  | 114,693 |
| $ | 1,592,333 |  |  | $ | (43,797) |  |  | $ | 71,498 |  |  | $ | 2,716 |  |  | $ | 1,622,750 |  |  | $ | 1,369,512 |
| March 31, 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 | $ | 62,771 |  |  | $ | (1,855) |  |  | $ | 8,199 |  |  | $ | 134 |  |  | $ | 69,249 |  |  | $ | 18,694 |
Asset-backed U.S. commercial paper conduit facilities | 567,295 |  |  | (16,821) |  |  | 31,565 |  |  | 1,282 |  |  | 583,321 |  |  | 526,947 |
Unconsolidated VIEs: |  |  |  |  |  |  |  |  |  |  |
Asset-backed Canadian commercial paper conduit facility | 164,779 |  |  | (3,003) |  |  | 9,767 |  |  | 282 |  |  | 171,825 |  |  | 142,676 |
| $ | 794,845 |  |  | $ | (21,679) |  |  | $ | 49,531 |  |  | $ | 1,698 |  |  | $ | 824,395 |  |  | $ | 688,317 |
Schedule of Servicing Activities | The unpaid principal balance of retail motorcycle finance receivables serviced by the Company was as follows (in thousands):
| March 29, 2020 |  | December 31, 2019 |  | March 31, 2019
On-balance sheet retail motorcycle finance receivables | $ | 6,132,225 |  |  | $ | 6,274,551 |  |  | $ | 6,159,058 |
Off-balance sheet retail motorcycle finance receivables | 27,421 |  |  | 35,197 |  |  | 67,062 |
| $ | 6,159,646 |  |  | $ | 6,309,748 |  |  | $ | 6,226,120 |
The unpaid principal balance of retail motorcycle finance receivables serviced by the Company 30 days or more delinquent was as follows (in thousands):
| March 29, 2020 |  | December 31, 2019 |  | March 31, 2019
On-balance sheet retail motorcycle finance receivables | $ | 177,928 |  |  | $ | 244,498 |  |  | $ | 201,142 |
Off-balance sheet retail motorcycle finance receivables | 712 |  |  | 885 |  |  | 1,194 |
| $ | 178,640 |  |  | $ | 245,383 |  |  | $ | 202,336 |
Credit losses, net of recoveries for the retail motorcycle finance receivables serviced by the Company were as follows (in thousands):
| Three months ended |  |  |  |  |  |
| March 29, 2020 |  | March 31, 2019 |  |  |  |
On-balance sheet retail motorcycle finance receivables | $ | 43,108 |  |  | $ | 33,504 |  |  |  |  |
Off-balance sheet retail motorcycle finance receivables | 13 |  |  | 231 |  |  |  |  |
| $ | 43,121 |  |  | $ | 33,735 |  |  |  |  |

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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 the carrying amount and classification of assets and liabilities recognized in the transferor's statement of financial position at the end of each period presented. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 30 -Section 50 -Paragraph 1A -Subparagraph (b)(1) -URI http://asc.fasb.org/extlink&oid=109249958&loc=SL6224234-111729 + Details
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