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Additional Balance Sheet and Cash Flow Information (Tables) | 3 Months Ended
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Mar. 27, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Marketable Securities | Investments in Marketable Securities – The Company’s investments in marketable securities consisted of the following (in thousands):
| March 27, 2022 |  | December 31, 2021 |  | March 28, 2021
Mutual funds | $ | 45,189 |  |  | $ | 49,650 |  |  | $ | 50,239 |
Inventories, Net | Inventories, net consisted of the following (in thousands):
| March 27, 2022 |  | December 31, 2021 |  | March 28, 2021
Raw materials and work in process | $ | 376,600 |  |  | $ | 347,915 |  |  | $ | 251,199 |
Motorcycle finished goods | 291,623 |  |  | 345,956 |  |  | 185,590 |
Parts and accessories and apparel | 130,156 |  |  | 103,191 |  |  | 88,291 |
Inventory at lower of FIFO cost or net realizable value | 798,379 |  |  | 797,062 |  |  | 525,080 |
Excess of FIFO over LIFO cost | (84,120) |  |  | (84,120) |  |  | (54,083) |
| $ | 714,259 |  |  | $ | 712,942 |  |  | $ | 470,997 |
Certificates of Deposit Maturity | Future maturities of the Company's certificates of deposit as of March 27, 2022 were as follows (in thousands):
2022 | $ | 58,475 |
2023 | 74,304 |
2024 | 71,696 |
2025 | 19,053 |
2026 | 79,742 |
Thereafter | 46,060 |
Future maturities | 349,330 |
Unamortized fees | (1,247) |
| $ | 348,083 |
Reconciliation of Net Cash Provided by Operating Activities | The reconciliation of Net income to Net cash provided by operating activities was as follows (in thousands):
| Three months ended
| March 27, 2022 |  | March 28, 2021
Cash flows from operating activities: |  |  |
Net income | $ | 222,502 |  |  | $ | 259,144 |
Adjustments to reconcile Net income to Net cash provided by operating activities: |  |  |
Depreciation and amortization | 39,258 |  |  | 40,221 |
Amortization of deferred loan origination costs | 22,995 |  |  | 19,200 |
Amortization of financing origination fees | 3,701 |  |  | 3,614 |
Provision for long-term employee benefits | (5,050) |  |  | 7,090 |
Employee benefit plan contributions and payments | (2,143) |  |  | (9,885) |
Stock compensation expense | 8,903 |  |  | 8,968 |
Net change in wholesale finance receivables related to sales | (205,727) |  |  | (308,532) |
Provision for credit losses | 28,822 |  |  | (22,474) |
Deferred income taxes | 6,307 |  |  | 13,192 |
Other, net | (5,408) |  |  | (2,138) |
Changes in current assets and liabilities: |  |  |
Accounts receivable, net | (74,993) |  |  | (79,012) |
Finance receivables – accrued interest and other | 3,115 |  |  | 8,947 |
Inventories, net | (2,630) |  |  | 45,086 |
Accounts payable and accrued liabilities | 106,969 |  |  | 153,597 |
Other current assets | (7,300) |  |  | 25,763 |
| (83,181) |  |  | (96,363) |
Net cash provided by operating activities | $ | 139,321 |  |  | $ | 162,781 |

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