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Additional Balance Sheet and Cash Flow Information (Tables) | 3 Months Ended
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Mar. 29, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Marketable Securities | The Company’s investments in marketable securities consisted of the following (in thousands):
| March 29, 2020 |  | December 31, 2019 |  | March 31, 2019
Debt securities | $ | — |  |  | $ | — |  |  | $ | 10,003 |
Mutual funds | 44,144 |  |  | 52,575 |  |  | 49,896 |
| $ | 44,144 |  |  | $ | 52,575 |  |  | $ | 59,899 |
Inventories, Net | Inventories, net consisted of the following (in thousands):
| March 29, 2020 |  | December 31, 2019 |  | March 31, 2019
Raw materials and work in process | $ | 245,384 |  |  | $ | 235,433 |  |  | $ | 204,759 |
Motorcycle finished goods | 272,648 |  |  | 280,306 |  |  | 304,386 |
Parts & accessories and general merchandise | 149,318 |  |  | 144,258 |  |  | 145,300 |
Inventory at lower of FIFO cost or net realizable value | 667,350 |  |  | 659,997 |  |  | 654,445 |
Excess of FIFO over LIFO cost | (56,426) |  |  | (56,426) |  |  | (58,639) |
| $ | 610,924 |  |  | $ | 603,571 |  |  | $ | 595,806 |
Reconciliation of Net Cash Provided by Operating Activities | The reconciliation of Net income to Net cash (used) provided by operating activities was as follows (in thousands):
| Three months ended |  |
| March 29, 2020 |  | March 31, 2019
Cash flows from operating activities: |  |  |
Net income | $ | 69,695 |  |  | $ | 127,945 |
Adjustments to reconcile Net income to Net cash provided by operating activities: |  |  |
Depreciation and amortization | 47,427 |  |  | 64,372 |
Amortization of deferred loan origination costs | 16,739 |  |  | 18,968 |
Amortization of financing origination fees | 2,999 |  |  | 2,194 |
Provision for long-term employee benefits | 7,852 |  |  | 3,156 |
Employee benefit plan contributions and payments | (1,608) |  |  | (2,507) |
Stock compensation expense | 3,896 |  |  | 6,537 |
Net change in wholesale finance receivables related to sales | (208,183) |  |  | (237,569) |
Provision for credit losses | 79,419 |  |  | 34,491 |
Deferred income taxes | (3,803) |  |  | 5,981 |
Other, net | 3,579 |  |  | 2,731 |
Changes in current assets and liabilities: |  |  |
Accounts receivable, net | (47,272) |  |  | (49,746) |
Finance receivables – accrued interest and other | 4,007 |  |  | 92 |
Inventories, net | (23,943) |  |  | (40,600) |
Accounts payable and accrued liabilities | 10,562 |  |  | 123,975 |
Derivative financial instruments | 2,812 |  |  | 867 |
Other | 27,240 |  |  | (28,216) |
| (78,277) |  |  | (95,274) |
Net cash (used) provided by operating activities | $ | (8,582) |  |  | $ | 32,671 |

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- Definition Tabular disclosure of the carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)(c)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)(b)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)(a)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6361739&loc=d3e7789-107766 + Details
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