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Restructuring Activities | 3 Months Ended
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Mar. 28, 2021
Restructuring and Related Activities [Abstract] |
Restructuring Activities | Restructuring Activities The Company's restructuring activities are included in Restructuring benefit on the Consolidated statements of operations. In 2020, the Company initiated restructuring activities including a workforce reduction, the termination of certain current and future products, facility changes, optimizing its global independent dealer network, exiting certain international markets, and discontinuing its sales and manufacturing operations in India. The workforce reduction resulted in the termination of approximately 500 employees. In addition, the India action resulted in the termination of approximately 70 employees. Since the inception of these restructuring activities in 2020 through the three months ended March 28, 2021, the Company has incurred cumulative restructuring expenses of $129.6 million. This includes a restructuring benefit during the three months ended March 28, 2021 of $0.4 million, consisting of a $0.6 million benefit in the Motorcycles segment and expense of $0.2 million in the Financial Services segment. The Company expects total estimated restructuring expenses of approximately $150 million, including approximately $139 million and $11 million expected to be in incurred in the Motorcycles and Financial Services segments, respectively. Total expected restructuring expenses include approximately $30 million related to employee termination benefits, $90 million related to contract termination and other costs and $30 million related to non-current asset adjustments, including accelerated depreciation and other adjustments to the carrying value of non-current assets. The Company expects to incur the remaining estimated restructuring expenses of approximately $20 million in 2021. Changes in accrued restructuring expenses, which are included in Accrued liabilities on the Consolidated balance sheets, were as follows (in thousands). There were no restructuring activities during the three months ended March 29, 2020.
| Three months ended March 28, 2021 |  |
| Employee Termination Benefits |  | Contract Terminations & Other |  | Non-Current Asset Adjustments |  | Total |  |  |  |  |  |  |  |
Balance, beginning of period | $ | 7,724 |  |  | $ | 16,196 |  |  | $ | — |  |  | $ | 23,920 |  |  |  |  |  |  |  |  |
Restructuring (benefit) expense | (944) |  |  | 1,106 |  |  | (528) |  |  | (366) |  |  |  |  |  |  |  |  |
Utilized – cash | (3,661) |  |  | (12,781) |  |  | — |  |  | (16,442) |  |  |  |  |  |  |  |  |
Utilized – non cash | — |  |  | — |  |  | 528 |  |  | 528 |  |  |  |  |  |  |  |  |
Foreign currency changes | (112) |  |  | (54) |  |  | — |  |  | (166) |  |  |  |  |  |  |  |  |
Balance, end of period | $ | 3,007 |  |  | $ | 4,467 |  |  | $ | — |  |  | $ | 7,474 |  |  |  |  |  |  |  |  |

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- References No definition available. + Details
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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI http://asc.fasb.org/topic&trid=2175745 + Details
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