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v3.23.1

Additional Balance Sheet and Cash Flow Information (Tables) | 3 Months Ended
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Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Marketable Securities | Investments in Marketable Securities – The Company’s investments in marketable securities consisted of the following (in thousands):
| March 31, 2023 |  | December 31, 2022 |  | March 27, 2022
Mutual funds | $ | 34,017 |  |  | $ | 33,071 |  |  | $ | 45,189 |
Schedule of Inventories, Net | Inventories, net consisted of the following (in thousands):
| March 31, 2023 |  | December 31, 2022 |  | March 27, 2022
Raw materials and work in process | $ | 387,466 |  |  | $ | 331,380 |  |  | $ | 376,600 |
Motorcycle finished goods | 380,083 |  |  | 549,041 |  |  | 291,623 |
Parts and accessories and apparel | 182,905 |  |  | 187,039 |  |  | 130,156 |
Inventory at lower of FIFO cost or net realizable value | 950,454 |  |  | 1,067,460 |  |  | 798,379 |
Excess of FIFO over LIFO cost | (119,933) |  |  | (116,500) |  |  | (84,120) |
| $ | 830,521 |  |  | $ | 950,960 |  |  | $ | 714,259 |
Schedule of Certificates of Deposit Maturity | Future maturities of the Company's certificates of deposit as of March 31, 2023 were as follows (in thousands):
2023 | $ | 81,167 |
2024 | 115,491 |
2025 | 39,740 |
2026 | 79,742 |
2027 | 54,158 |
Thereafter | — |
Future maturities | 370,298 |
Unamortized fees | (987) |
| $ | 369,311 |
Schedule of Reconciliation of Net Cash Provided by Operating Activities | Operating Cash Flow – The reconciliation of Net income to Net cash provided by operating activities was as follows (in thousands):
| Three months ended
| March 31, 2023 |  | March 27, 2022
Cash flows from operating activities: |  |  |
Net income | $ | 301,829 |  |  | $ | 222,502 |
Adjustments to reconcile Net income to Net cash provided by operating activities: |  |  |
Depreciation and amortization | 34,352 |  |  | 39,258 |
Amortization of deferred loan origination costs | 21,858 |  |  | 22,995 |
Amortization of financing origination fees | 3,011 |  |  | 3,701 |
Provision for long-term employee benefits | (16,939) |  |  | (5,050) |
Employee benefit plan contributions and payments | (1,739) |  |  | (2,143) |
Stock compensation expense | 23,628 |  |  | 8,903 |
Net change in wholesale finance receivables related to sales | (487,314) |  |  | (205,727) |
Provision for credit losses | 52,364 |  |  | 28,822 |
Deferred income taxes | 5,648 |  |  | 6,307 |
Other, net | (21,671) |  |  | (5,408) |
Changes in current assets and liabilities: |  |  |
Accounts receivable, net | (77,993) |  |  | (74,993) |
Finance receivables – accrued interest and other | 2,252 |  |  | 3,115 |
Inventories, net | 123,047 |  |  | (2,630) |
Accounts payable and accrued liabilities | 43,787 |  |  | 106,969 |
Other current assets | 40,557 |  |  | (7,300) |
| (255,152) |  |  | (83,181) |
Net cash provided by operating activities | $ | 46,677 |  |  | $ | 139,321 |

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