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Supplemental Consolidating Data (Tables) | 6 Months Ended
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Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Operations | Supplemental consolidating data is as follows (in thousands):
| Three months ended June 30, 2024
| Non-Financial Services Entities |  | Financial Services Entities |  | Consolidating Adjustments |  | Consolidated
Revenue: |  |  |  |  |  |  |
Motorcycles and related products | $ | 1,357,953 |  |  | $ | — |  |  | $ | (2,599) |  |  | $ | 1,355,354 |
Financial services | — |  |  | 264,220 |  |  | (681) |  |  | 263,539 |
| 1,357,953 |  |  | 264,220 |  |  | (3,280) |  |  | 1,618,893 |
Costs and expenses: |  |  |  |  |  |  |
Motorcycles and related products cost of goods sold | 924,012 |  |  | — |  |  | — |  |  | 924,012 |
Financial services interest expense | — |  |  | 93,741 |  |  | — |  |  | 93,741 |
Financial services provision for credit losses | — |  |  | 56,030 |  |  | — |  |  | 56,030 |
Selling, administrative and engineering expense | 262,188 |  |  | 45,004 |  |  | (3,184) |  |  | 304,008 |
| 1,186,200 |  |  | 194,775 |  |  | (3,184) |  |  | 1,377,791 |
Operating income | 171,753 |  |  | 69,445 |  |  | (96) |  |  | 241,102 |
Other income, net | 15,879 |  |  | — |  |  | — |  |  | 15,879 |
Investment income | 14,811 |  |  | — |  |  | — |  |  | 14,811 |
Interest expense | 7,680 |  |  | — |  |  | — |  |  | 7,680 |
Income before income taxes | 194,763 |  |  | 69,445 |  |  | (96) |  |  | 264,112 |
Income tax provision | 32,032 |  |  | 16,674 |  |  | — |  |  | 48,706 |
Net income | 162,731 |  |  | 52,771 |  |  | (96) |  |  | 215,406 |
Less: (income) loss attributable to noncontrolling interests | 2,863 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,863 |
Net income attributable to Harley-Davidson, Inc. | $ | 165,594 |  |  | $ | 52,771 |  |  | $ | (96) |  |  | $ | 218,269 |
| Six months ended June 30, 2024
| Non-Financial Services Entities |  | Financial Services Entities |  | Consolidating Adjustments |  | Consolidated
Revenue: |  |  |  |  |  |  |
Motorcycles and related products | $ | 2,840,712 |  |  | $ | — |  |  | $ | (4,548) |  |  | $ | 2,836,164 |
Financial services | — |  |  | 513,459 |  |  | (1,123) |  |  | 512,336 |
| 2,840,712 |  |  | 513,459 |  |  | (5,671) |  |  | 3,348,500 |
Costs and expenses: |  |  |  |  |  |  |
Motorcycles and related products cost of goods sold | 1,947,693 |  |  | — |  |  | — |  |  | 1,947,693 |
Financial services interest expense | — |  |  | 182,480 |  |  | — |  |  | 182,480 |
Financial services provision for credit losses | — |  |  | 117,040 |  |  | — |  |  | 117,040 |
Selling, administrative and engineering expense | 510,661 |  |  | 92,126 |  |  | (5,682) |  |  | 597,105 |
| 2,458,354 |  |  | 391,646 |  |  | (5,682) |  |  | 2,844,318 |
Operating income | 382,358 |  |  | 121,813 |  |  | 11 |  |  | 504,182 |
Other income, net | 36,443 |  |  | — |  |  | — |  |  | 36,443 |
Investment income | 29,215 |  |  | — |  |  | — |  |  | 29,215 |
Interest expense | 15,359 |  |  | — |  |  | — |  |  | 15,359 |
Income before income taxes | 432,657 |  |  | 121,813 |  |  | 11 |  |  | 554,481 |
Provision for income taxes | 77,562 |  |  | 29,280 |  |  | — |  |  | 106,842 |
Net income | 355,095 |  |  | 92,533 |  |  | 11 |  |  | 447,639 |
Less: (income) loss attributable to noncontrolling interests | 5,571 |  |  | — |  |  | — |  |  | 5,571 |
Net income attributable to Harley-Davidson, Inc. | $ | 360,666 |  |  | $ | 92,533 |  |  | $ | 11 |  |  | $ | 453,210 |
| Three months ended June 30, 2023
| Non-Financial Services Entities |  | Financial Services Entities |  | Consolidating Adjustments |  | Consolidated
Revenue: |  |  |  |  |  |  |
Motorcycles and Related Products | $ | 1,207,314 |  |  | $ | — |  |  | $ | (2,152) |  |  | $ | 1,205,162 |
Financial Services | — |  |  | 241,090 |  |  | (729) |  |  | 240,361 |
| 1,207,314 |  |  | 241,090 |  |  | (2,881) |  |  | 1,445,523 |
Costs and expenses: |  |  |  |  |  |  |
Motorcycles and Related Products cost of goods sold | 790,628 |  |  | — |  |  | — |  |  | 790,628 |
Financial Services interest expense | — |  |  | 86,005 |  |  | — |  |  | 86,005 |
Financial Services provision for credit losses | — |  |  | 57,278 |  |  | — |  |  | 57,278 |
Selling, administrative and engineering expense | 252,825 |  |  | 40,245 |  |  | (2,796) |  |  | 290,274 |
| 1,043,453 |  |  | 183,528 |  |  | (2,796) |  |  | 1,224,185 |
Operating income | 163,861 |  |  | 57,562 |  |  | (85) |  |  | 221,338 |
Other income, net | 7,226 |  |  | — |  |  | — |  |  | 7,226 |
Investment income | 11,151 |  |  | — |  |  | — |  |  | 11,151 |
Interest expense | 7,696 |  |  | — |  |  | — |  |  | 7,696 |
Income before income taxes | 174,542 |  |  | 57,562 |  |  | (85) |  |  | 232,019 |
Provision for income taxes | 43,670 |  |  | 14,519 |  |  | — |  |  | 58,189 |
Net income | 130,872 |  |  | 43,043 |  |  | (85) |  |  | 173,830 |
Less: (income) loss attributable to noncontrolling interests | 4,209 |  |  | — |  |  | — |  |  | 4,209 |
Net income attributable to Harley-Davidson, Inc. | $ | 135,081 |  |  | $ | 43,043 |  |  | $ | (85) |  |  | $ | 178,039 |
| Six months ended June 30, 2023
| Non-Financial Services Entities |  | Financial Services Entities |  | Consolidating Adjustments |  | Consolidated
Revenue: |  |  |  |  |  |  |
Motorcycles and related products | $ | 2,775,023 |  |  | $ | — |  |  | $ | (4,270) |  |  | $ | 2,770,753 |
Financial services | — |  |  | 464,613 |  |  | (1,157) |  |  | 463,456 |
| 2,775,023 |  |  | 464,613 |  |  | (5,427) |  |  | 3,234,209 |
Costs and expenses: |  |  |  |  |  |  |
Motorcycles and related products cost of goods sold | 1,797,929 |  |  | — |  |  | — |  |  | 1,797,929 |
Financial services interest expense | — |  |  | 159,554 |  |  | — |  |  | 159,554 |
Financial services provision for credit losses | — |  |  | 109,642 |  |  | — |  |  | 109,642 |
Selling, administrative and engineering expense | 500,520 |  |  | 81,125 |  |  | (5,508) |  |  | 576,137 |
| 2,298,449 |  |  | 350,321 |  |  | (5,508) |  |  | 2,643,262 |
Operating income | 476,574 |  |  | 114,292 |  |  | 81 |  |  | 590,947 |
Other income, net | 27,322 |  |  | — |  |  | — |  |  | 27,322 |
Investment income | 21,176 |  |  | — |  |  | — |  |  | 21,176 |
Interest expense | 15,416 |  |  | — |  |  | — |  |  | 15,416 |
Income before income taxes | 509,656 |  |  | 114,292 |  |  | 81 |  |  | 624,029 |
Provision for income taxes | 122,398 |  |  | 25,972 |  |  | — |  |  | 148,370 |
Net income | 387,258 |  |  | 88,320 |  |  | 81 |  |  | 475,659 |
Less: (income) loss attributable to noncontrolling interests | 6,470 |  |  | — |  |  | — |  |  | 6,470 |
Net income attributable to Harley-Davidson, Inc. | $ | 393,728 |  |  | $ | 88,320 |  |  | $ | 81 |  |  | $ | 482,129 |
Schedule of Balance Sheet |
| June 30, 2024
| Non-Financial Services Entities |  | Financial Services Entities |  | Consolidating Adjustments |  | Consolidated
ASSETS |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |
Cash and cash equivalents | $ | 1,276,973 |  |  | $ | 572,186 |  |  | $ | — |  |  | $ | 1,849,159 |
Accounts receivable, net | 636,846 |  |  | 46 |  |  | (315,607) |  |  | 321,285 |
Finance receivables, net | — |  |  | 2,472,784 |  |  | — |  |  | 2,472,784 |
Inventories, net | 668,924 |  |  | — |  |  | — |  |  | 668,924 |
Restricted cash | — |  |  | 137,486 |  |  | — |  |  | 137,486 |
Other current assets | 143,012 |  |  | 59,086 |  |  | (14,096) |  |  | 188,002 |
| 2,725,755 |  |  | 3,241,588 |  |  | (329,703) |  |  | 5,637,640 |
Finance receivables, net | — |  |  | 5,545,780 |  |  | — |  |  | 5,545,780 |
Property, plant and equipment, net | 703,548 |  |  | 16,875 |  |  | — |  |  | 720,423 |
Pension and postretirement assets | 438,805 |  |  | — |  |  | — |  |  | 438,805 |
Goodwill | 62,152 |  |  | — |  |  | — |  |  | 62,152 |
Deferred income taxes | 72,899 |  |  | 86,473 |  |  | (792) |  |  | 158,580 |
Lease assets | 58,078 |  |  | 3,838 |  |  | — |  |  | 61,916 |
Other long-term assets | 224,645 |  |  | 25,941 |  |  | (115,640) |  |  | 134,946 |
| $ | 4,285,882 |  |  | $ | 8,920,495 |  |  | $ | (446,135) |  |  | $ | 12,760,242 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |
Accounts payable | $ | 351,209 |  |  | $ | 341,465 |  |  | $ | (315,607) |  |  | $ | 377,067 |
Accrued liabilities | 502,575 |  |  | 172,019 |  |  | (13,427) |  |  | 661,167 |
Short-term deposits, net | — |  |  | 206,972 |  |  | — |  |  | 206,972 |
Short-term debt | — |  |  | 497,792 |  |  | — |  |  | 497,792 |
Current portion of long-term debt, net | — |  |  | 2,021,344 |  |  | — |  |  | 2,021,344 |
| 853,784 |  |  | 3,239,592 |  |  | (329,034) |  |  | 3,764,342 |
Long-term deposits, net | — |  |  | 297,121 |  |  | — |  |  | 297,121 |
Long-term debt, net | 746,438 |  |  | 4,203,433 |  |  | — |  |  | 4,949,871 |
Lease liabilities | 41,991 |  |  | 3,364 |  |  | — |  |  | 45,355 |
Pension and postretirement liabilities | 58,886 |  |  | — |  |  | — |  |  | 58,886 |
Deferred income taxes | 30,266 |  |  | 3,231 |  |  | — |  |  | 33,497 |
Other long-term liabilities | 143,946 |  |  | 32,034 |  |  | 1,874 |  |  | 177,854 |
Commitments and contingencies (Note 14) |  |  |  |  |  |  |
Shareholders’ equity | 2,410,571 |  |  | 1,141,720 |  |  | (118,975) |  |  | 3,433,316 |
| $ | 4,285,882 |  |  | $ | 8,920,495 |  |  | $ | (446,135) |  |  | $ | 12,760,242 |
| June 30, 2023
| Non-Financial Services Entities |  | Financial Services Entities |  | Consolidating Adjustments |  | Consolidated
ASSETS |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |
Cash and cash equivalents | $ | 1,056,404 |  |  | $ | 465,536 |  |  | $ | — |  |  | $ | 1,521,940 |
Accounts receivable, net | 514,653 |  |  | — |  |  | (185,166) |  |  | 329,487 |
Finance receivables, net | — |  |  | 1,979,645 |  |  | — |  |  | 1,979,645 |
Inventories, net | 846,033 |  |  | — |  |  | — |  |  | 846,033 |
Restricted cash | — |  |  | 135,618 |  |  | — |  |  | 135,618 |
Other current assets | 151,505 |  |  | 55,556 |  |  | (5,359) |  |  | 201,702 |
| 2,568,595 |  |  | 2,636,355 |  |  | (190,525) |  |  | 5,014,425 |
Finance receivables, net | — |  |  | 5,530,221 |  |  | — |  |  | 5,530,221 |
Property, plant and equipment, net | 666,908 |  |  | 21,208 |  |  | — |  |  | 688,116 |
Pension and postretirement assets | 353,004 |  |  | — |  |  | — |  |  | 353,004 |
Goodwill | 62,451 |  |  | — |  |  | — |  |  | 62,451 |
Deferred income taxes | 60,412 |  |  | 85,907 |  |  | (951) |  |  | 145,368 |
Lease assets | 67,878 |  |  | 5,348 |  |  | — |  |  | 73,226 |
Other long-term assets | 226,149 |  |  | 34,790 |  |  | (112,189) |  |  | 148,750 |
| $ | 4,005,397 |  |  | $ | 8,313,829 |  |  | $ | (303,665) |  |  | $ | 12,015,561 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |
Accounts payable | $ | 329,394 |  |  | $ | 215,197 |  |  | $ | (185,166) |  |  | $ | 359,425 |
Accrued liabilities | 480,352 |  |  | 115,130 |  |  | (4,797) |  |  | 590,685 |
Short-term deposits, net | — |  |  | 216,293 |  |  | — |  |  | 216,293 |
Short-term debt | — |  |  | 695,356 |  |  | — |  |  | 695,356 |
Current portion of long-term debt, net | — |  |  | 604,700 |  |  | — |  |  | 604,700 |
| 809,746 |  |  | 1,846,676 |  |  | (189,963) |  |  | 2,466,459 |
Long-term deposits, net | — |  |  | 223,618 |  |  | — |  |  | 223,618 |
Long-term debt, net | 745,722 |  |  | 5,019,524 |  |  | — |  |  | 5,765,246 |
Lease liabilities | 51,013 |  |  | 5,097 |  |  | — |  |  | 56,110 |
Pension and postretirement liabilities | 66,801 |  |  | — |  |  | — |  |  | 66,801 |
Deferred income taxes | 28,390 |  |  | 3,129 |  |  | — |  |  | 31,519 |
Other long-term liabilities | 154,029 |  |  | 59,971 |  |  | 1,952 |  |  | 215,952 |
Commitments and contingencies (Note 14) |  |  |  |  |  |  |
Shareholders’ equity | 2,149,696 |  |  | 1,155,814 |  |  | (115,654) |  |  | 3,189,856 |
| $ | 4,005,397 |  |  | $ | 8,313,829 |  |  | $ | (303,665) |  |  | $ | 12,015,561 |
Schedule of Cash Flows |
| Six months ended June 30, 2024
| Non-Financial Services Entities |  | Financial Services Entities |  | Consolidating Adjustments |  | Consolidated
Cash flows from operating activities: |  |  |  |  |  |  |
Net income | $ | 355,095 |  |  | $ | 92,533 |  |  | $ | 11 |  |  | $ | 447,639 |
Adjustments to reconcile Net income to Net cash provided by operating activities: |  |  |  |  |  |  |
Depreciation and amortization | 75,768 |  |  | 4,608 |  |  | — |  |  | 80,376 |
Amortization of deferred loan origination costs | — |  |  | 36,466 |  |  | — |  |  | 36,466 |
Amortization of financing origination fees | 360 |  |  | 6,433 |  |  | — |  |  | 6,793 |
Provision for long-term employee benefits | (26,143) |  |  | — |  |  | — |  |  | (26,143) |
Employee benefit plan contributions and payments | (2,593) |  |  | — |  |  | — |  |  | (2,593) |
Stock compensation expense | 27,896 |  |  | 1,099 |  |  | — |  |  | 28,995 |
Net change in wholesale finance receivables related to sales | — |  |  | — |  |  | (388,030) |  |  | (388,030) |
Provision for credit losses | — |  |  | 117,040 |  |  | — |  |  | 117,040 |
Deferred income taxes | 2,145 |  |  | (1,445) |  |  | (554) |  |  | 146 |
Other, net | 13,339 |  |  | 1,637 |  |  | (11) |  |  | 14,965 |
Changes in current assets and liabilities: |  |  |  |  |  |  |
Accounts receivable, net | (233,698) |  |  | — |  |  | 167,771 |  |  | (65,927) |
Finance receivables – accrued interest and other | — |  |  | 2,759 |  |  | — |  |  | 2,759 |
Inventories, net | 235,539 |  |  | — |  |  | — |  |  | 235,539 |
Accounts payable and accrued liabilities | 48,395 |  |  | 171,199 |  |  | (155,428) |  |  | 64,166 |
Other current assets | 9,347 |  |  | 9,589 |  |  | 6,515 |  |  | 25,451 |
| 150,355 |  |  | 349,385 |  |  | (369,737) |  |  | 130,003 |
Net cash provided by operating activities | 505,450 |  |  | 441,918 |  |  | (369,726) |  |  | 577,642 |
Cash flows from investing activities: |  |  |  |  |  |  |
Capital expenditures | (87,050) |  |  | (785) |  |  | — |  |  | (87,835) |
Origination of finance receivables | — |  |  | (4,210,218) |  |  | 2,114,266 |  |  | (2,095,952) |
Collections on finance receivables | — |  |  | 3,531,504 |  |  | (1,744,540) |  |  | 1,786,964 |
Other investing activities | (1,206) |  |  | — |  |  | 1,000 |  |  | (206) |
Net cash used by investing activities | (88,256) |  |  | (679,499) |  |  | 370,726 |  |  | (397,029) |
| Six months ended June 30, 2024
| Non-Financial Services Entities |  | Financial Services Entities |  | Consolidating Adjustments |  | Consolidated
Cash flows from financing activities: |  |  |  |  |  |  |
Proceeds from issuance of medium-term notes | — |  |  | 495,856 |  |  | — |  |  | 495,856 |
Proceeds from securitization debt | — |  |  | 547,618 |  |  | — |  |  | 547,618 |
Repayments of securitization debt | — |  |  | (506,489) |  |  | — |  |  | (506,489) |
Borrowings of asset-backed commercial paper | — |  |  | 351,429 |  |  | — |  |  | 351,429 |
Repayments of asset-backed commercial paper | — |  |  | (125,654) |  |  | — |  |  | (125,654) |
Net decrease in unsecured commercial paper | — |  |  | (379,743) |  |  | — |  |  | (379,743) |
Net increase in deposits | — |  |  | 56,007 |  |  | — |  |  | 56,007 |
Dividends paid | (47,359) |  |  | — |  |  | — |  |  | (47,359) |
Repurchase of common stock | (209,675) |  |  | — |  |  | — |  |  | (209,675) |
Other financing activities | 8 |  |  | 1,000 |  |  | (1,000) |  |  | 8 |
Net cash (used) provided by financing activities | (257,026) |  |  | 440,024 |  |  | (1,000) |  |  | 181,998 |
Effect of exchange rate changes on cash, cash equivalents and restricted cash | (10,595) |  |  | (226) |  |  | — |  |  | (10,821) |
Net increase in cash, cash equivalents and restricted cash | $ | 149,573 |  |  | $ | 202,217 |  |  | $ | — |  |  | $ | 351,790 |
Cash, cash equivalents and restricted cash: |  |  |  |  |  |  |
Cash, cash equivalents and restricted cash, beginning of period | $ | 1,127,400 |  |  | $ | 521,411 |  |  | $ | — |  |  | $ | 1,648,811 |
Net increase in cash, cash equivalents and restricted cash | 149,573 |  |  | 202,217 |  |  | — |  |  | 351,790 |
Cash, cash equivalents and restricted cash, end of period | $ | 1,276,973 |  |  | $ | 723,628 |  |  | $ | — |  |  | $ | 2,000,601 |
| Six months ended June 30, 2023
| Non-Financial Services Entities |  | Financial Services Entities |  | Consolidating Adjustments |  | Consolidated
Cash flows from operating activities: |  |  |  |  |  |  |
Net income | $ | 387,258 |  |  | $ | 88,320 |  |  | $ | 81 |  |  | $ | 475,659 |
Adjustments to reconcile Net income to Net cash provided by operating activities: |  |  |  |  |  |  |
Depreciation and amortization | 67,720 |  |  | 4,505 |  |  | — |  |  | 72,225 |
Amortization of deferred loan origination costs | — |  |  | 44,393 |  |  | — |  |  | 44,393 |
Amortization of financing origination fees | 354 |  |  | 6,154 |  |  | — |  |  | 6,508 |
Provision for long-term employee benefits | (33,656) |  |  | — |  |  | — |  |  | (33,656) |
Employee benefit plan contributions and payments | (2,882) |  |  | — |  |  | — |  |  | (2,882) |
Stock compensation expense | 42,174 |  |  | 2,239 |  |  | — |  |  | 44,413 |
Net change in wholesale finance receivables related to sales | — |  |  | — |  |  | (267,942) |  |  | (267,942) |
Provision for credit losses | — |  |  | 109,642 |  |  | — |  |  | 109,642 |
Deferred income taxes | 233 |  |  | (4,413) |  |  | (71) |  |  | (4,251) |
Other, net | (25,290) |  |  | (5,788) |  |  | (82) |  |  | (31,160) |
Changes in current assets and liabilities: |  |  |  |  |  |  |
Accounts receivable, net | (147,730) |  |  | — |  |  | 68,199 |  |  | (79,531) |
Finance receivables – accrued interest and other | — |  |  | 3,189 |  |  | — |  |  | 3,189 |
Inventories, net | 94,636 |  |  | — |  |  | — |  |  | 94,636 |
Accounts payable and accrued liabilities | (30,340) |  |  | 80,563 |  |  | (66,270) |  |  | (16,047) |
Other current assets | (12,329) |  |  | 6,836 |  |  | 817 |  |  | (4,676) |
| (47,110) |  |  | 247,320 |  |  | (265,349) |  |  | (65,139) |
Net cash provided by operating activities | 340,148 |  |  | 335,640 |  |  | (265,268) |  |  | 410,520 |
Cash flows from investing activities: |  |  |  |  |  |  |
Capital expenditures | (85,401) |  |  | (1,125) |  |  | — |  |  | (86,526) |
Origination of finance receivables | — |  |  | (4,076,675) |  |  | 1,947,692 |  |  | (2,128,983) |
Collections on finance receivables | — |  |  | 3,551,887 |  |  | (1,682,424) |  |  | 1,869,463 |
Other investing activities | (1,650) |  |  | — |  |  | 2,500 |  |  | 850 |
Net cash used by investing activities | (87,051) |  |  | (525,913) |  |  | 267,768 |  |  | (345,196) |
| Six months ended June 30, 2023
| Non-Financial Services Entities |  | Financial Services Entities |  | Consolidating Adjustments |  | Consolidated
Cash flows from financing activities: |  |  |  |  |  |  |
Proceeds from issuance of medium-term notes | — |  |  | 1,446,304 |  |  | — |  |  | 1,446,304 |
Repayments of medium-term notes | — |  |  | (1,056,680) |  |  | — |  |  | (1,056,680) |
Proceeds from securitization debt | — |  |  | 547,706 |  |  | — |  |  | 547,706 |
Repayments of securitization debt | — |  |  | (645,377) |  |  | — |  |  | (645,377) |
Borrowings of asset-backed commercial paper | — |  |  | 33,547 |  |  | — |  |  | 33,547 |
Repayments of asset-backed commercial paper | — |  |  | (129,961) |  |  | — |  |  | (129,961) |
Net decrease in unsecured commercial paper | — |  |  | (75,229) |  |  | — |  |  | (75,229) |
Net increase in deposits | — |  |  | 122,288 |  |  | — |  |  | 122,288 |
Dividends paid | (48,193) |  |  | — |  |  | — |  |  | (48,193) |
Repurchase of common stock | (169,645) |  |  | — |  |  | — |  |  | (169,645) |
Other financing activities | 76 |  |  | 2,500 |  |  | (2,500) |  |  | 76 |
Net cash (used) provided by financing activities | (217,762) |  |  | 245,098 |  |  | (2,500) |  |  | 24,836 |
Effect of exchange rate changes on cash, cash equivalents and restricted cash | (729) |  |  | 239 |  |  | — |  |  | (490) |
Net increase in cash, cash equivalents and restricted cash | $ | 34,606 |  |  | $ | 55,064 |  |  | $ | — |  |  | $ | 89,670 |
Cash, cash equivalents and restricted cash: |  |  |  |  |  |  |
Cash, cash equivalents and restricted cash, beginning of period | $ | 1,021,798 |  |  | $ | 557,379 |  |  | $ | — |  |  | $ | 1,579,177 |
Net increase in cash, cash equivalents and restricted cash | 34,606 |  |  | 55,064 |  |  | — |  |  | 89,670 |
Cash, cash equivalents and restricted cash, end of period | $ | 1,056,404 |  |  | $ | 612,443 |  |  | $ | — |  |  | $ | 1,668,847 |

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