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v3.22.2.2

Asset-Backed Financing (Tables) | 9 Months Ended
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Sep. 25, 2022
Transfers and Servicing [Abstract] |
Schedule of 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):
| September 25, 2022
| Finance receivables |  | Allowance for credit losses |  | Restricted cash |  | Other assets |  | Total assets |  | Asset-backed debt, net
On-balance sheet assets and liabilities: |  |  |  |  |  |  |  |  |  |  |
Consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |
Asset-backed securitizations | $ | 3,003,578 |  |  | $ | (150,672) |  |  | $ | 170,297 |  |  | $ | 8,274 |  |  | $ | 3,031,477 |  |  | $ | 2,405,406 |
Asset-backed U.S. commercial paper conduit facility | 540,751 |  |  | (27,114) |  |  | 35,581 |  |  | 1,308 |  |  | 550,526 |  |  | 489,074 |
Unconsolidated VIEs: |  |  |  |  |  |  |  |  |  |  |
Asset-backed Canadian commercial paper conduit facility | 93,781 |  |  | (3,874) |  |  | 6,162 |  |  | 168 |  |  | 96,237 |  |  | 82,154 |
| $ | 3,638,110 |  |  | $ | (181,660) |  |  | $ | 212,040 |  |  | $ | 9,750 |  |  | $ | 3,678,240 |  |  | $ | 2,976,634 |
| December 31, 2021
| Finance receivables |  | Allowance for credit losses |  | Restricted cash |  | Other assets |  | Total assets |  | Asset-backed debt, net
On-balance sheet assets and liabilities: |  |  |  |  |  |  |  |  |  |  |
Consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |
Asset-backed securitizations | $ | 2,048,194 |  |  | $ | (102,779) |  |  | $ | 123,717 |  |  | $ | 2,328 |  |  | $ | 2,071,460 |  |  | $ | 1,627,142 |
Asset-backed U.S. commercial paper conduit facility | 297,454 |  |  | (14,898) |  |  | 20,567 |  |  | 654 |  |  | 303,777 |  |  | 272,589 |
Unconsolidated VIEs: |  |  |  |  |  |  |  |  |  |  |
Asset-backed Canadian commercial paper conduit facility | 97,180 |  |  | (3,990) |  |  | 6,191 |  |  | 139 |  |  | 99,520 |  |  | 85,054 |
| $ | 2,442,828 |  |  | $ | (121,667) |  |  | $ | 150,475 |  |  | $ | 3,121 |  |  | $ | 2,474,757 |  |  | $ | 1,984,785 |
| September 26, 2021
| Finance receivables |  | Allowance for credit losses |  | Restricted cash |  | Other assets |  | Total assets |  | Asset-backed debt, net
On-balance sheet assets and liabilities: |  |  |  |  |  |  |  |  |  |  |
Consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |
Asset-backed securitizations | $ | 2,362,454 |  |  | $ | (119,975) |  |  | $ | 148,177 |  |  | $ | 2,228 |  |  | $ | 2,392,884 |  |  | $ | 1,952,368 |
Asset-backed U.S. commercial paper conduit facility | 264,226 |  |  | (13,396) |  |  | 19,688 |  |  | 526 |  |  | 271,044 |  |  | 242,254 |
Unconsolidated VIEs: |  |  |  |  |  |  |  |  |  |  |
Asset-backed Canadian commercial paper conduit facility | 112,374 |  |  | (4,729) |  |  | 7,408 |  |  | 157 |  |  | 115,210 |  |  | 98,310 |
| $ | 2,739,054 |  |  | $ | (138,100) |  |  | $ | 175,273 |  |  | $ | 2,911 |  |  | $ | 2,779,138 |  |  | $ | 2,292,932 |
Transfer of Financial Assets Accounted for as Sales | Quarterly transfers of U.S. retail motorcycle finance receivables to SPEs, the respective proceeds, and the respective proceeds, net of discounts and issuance costs were as follows (in millions):
| 2022 |  | 2021
| Transfers |  | Proceeds |  | Proceeds, net |  | Transfers |  | Proceeds |  | Proceeds, net
First quarter | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 663.1 |  |  | $ | 600.0 |  |  | $ | 597.4 |
Second quarter | 2,176.4 |  |  | 1,836.3 |  |  | 1,826.9 |  |  | — |  |  | — |  |  | — |
Third quarter | — |  |  | — |  |  | $ | — |  |  | 635.5 |  |  | 575.0 |  |  | 572.5 |
| $ | 2,176.4 |  |  | $ | 1,836.3 |  |  | $ | 1,826.9 |  |  | $ | 1,298.6 |  |  | $ | 1,175.0 |  |  | $ | 1,169.9 |
Quarterly transfers of Canadian retail motorcycle finance receivables to the Canadian Conduit and the respective proceeds were as follows (in millions):
| 2022 |  | 2021
| Transfers |  | Proceeds |  | Transfers |  | Proceeds
First quarter | $ | 25.3 |  |  | $ | 21.2 |  |  | $ | — |  |  | $ | — |
Second quarter | — |  |  | — |  |  | — |  |  | — |
Third quarter | 27.8 |  |  | 23.0 |  |  | 32.8 |  |  | 27.4 |
| $ | 53.1 |  |  | $ | 44.2 |  |  | $ | 32.8 |  |  | $ | 27.4 |

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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 https://asc.fasb.org/extlink&oid=109249958&loc=SL6224234-111729 + Details
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- Definition Tabular disclosure of derecognized financial assets from transactions which comprise an initial transfer and an agreement entered into in contemplation of the initial transfer resulting in retention of substantially all of the exposure to the economic return throughout the term of the transaction. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 20 -Section 50 -Paragraph 4D -URI https://asc.fasb.org/extlink&oid=121570589&loc=SL51823488-111719 + Details
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