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New Accounting Standards (Tables) | 6 Months Ended
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Jun. 28, 2020
Accounting Policies [Abstract] |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles | The effect of adopting ASU 2016-13 on the Company’s Consolidated balance sheets was as follows (in thousands):
| December 31, 2019 |  | Effect of Adoption |  | January 1, 2020
ASSETS |  |  |  |  |
Finance receivables(a) | $ | 7,572,947 |  |  | $ | — |  |  | $ | 7,572,947 |
Allowance for credit losses on finance receivables(a) | $ | (198,581) |  |  | $ | (100,604) |  |  | $ | (299,185) |
Deferred income taxes | $ | 101,204 |  |  | $ | 22,484 |  |  | $ | 123,688 |
LIABILITIES AND SHAREHOLDERS' EQUITY |  |  |  |  |
Accrued liabilities | $ | 582,288 |  |  | $ | 109 |  |  | $ | 582,397 |
Retained earnings | $ | 2,193,997 |  |  | $ | (78,229) |  |  | $ | 2,115,768 |
(a)Reported as Finance receivables, net on the Consolidated balance sheets, allocated between current and non-current

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- Definition Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=116846552&loc=d3e765-108305 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=116846552&loc=d3e725-108305 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794 + Details
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