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Supplemental Consolidating Data (Tables) | 9 Months Ended
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Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Operations | Supplemental consolidating data is as follows (in thousands):
| Three months ended September 30, 2024
| Non-Financial Services Entities |  | Financial Services Entities |  | Consolidating Adjustments |  | Consolidated
Revenue: |  |  |  |  |  |  |
Motorcycles and related products | $ | 883,958 |  |  | $ | — |  |  | $ | (2,745) |  |  | $ | 881,213 |
Financial services | — |  |  | 269,880 |  |  | (398) |  |  | 269,482 |
| 883,958 |  |  | 269,880 |  |  | (3,143) |  |  | 1,150,695 |
Costs and expenses: |  |  |  |  |  |  |
Motorcycles and related products cost of goods sold | 618,580 |  |  | — |  |  | — |  |  | 618,580 |
Financial services interest expense | — |  |  | 94,463 |  |  | — |  |  | 94,463 |
Financial services provision for credit losses | — |  |  | 57,977 |  |  | — |  |  | 57,977 |
Selling, administrative and engineering expense | 234,002 |  |  | 43,042 |  |  | (3,165) |  |  | 273,879 |
| 852,582 |  |  | 195,482 |  |  | (3,165) |  |  | 1,044,899 |
Operating income | 31,376 |  |  | 74,398 |  |  | 22 |  |  | 105,796 |
Other income, net | 18,408 |  |  | — |  |  | — |  |  | 18,408 |
Investment income | 16,450 |  |  | — |  |  | — |  |  | 16,450 |
Interest expense | 7,707 |  |  | — |  |  | — |  |  | 7,707 |
Income before income taxes | 58,527 |  |  | 74,398 |  |  | 22 |  |  | 132,947 |
Income tax provision | (914) |  |  | 17,894 |  |  | — |  |  | 16,980 |
Net income | 59,441 |  |  | 56,504 |  |  | 22 |  |  | 115,967 |
Less: (income) loss attributable to noncontrolling interests | 3,073 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,073 |
Net income attributable to Harley-Davidson, Inc. | $ | 62,514 |  |  | $ | 56,504 |  |  | $ | 22 |  |  | $ | 119,040 |
| Nine months ended September 30, 2024
| Non-Financial Services Entities |  | Financial Services Entities |  | Consolidating Adjustments |  | Consolidated
Revenue: |  |  |  |  |  |  |
Motorcycles and related products | $ | 3,724,668 |  |  | $ | — |  |  | $ | (7,293) |  |  | $ | 3,717,375 |
Financial services | — |  |  | 783,339 |  |  | (1,521) |  |  | 781,818 |
| 3,724,668 |  |  | 783,339 |  |  | (8,814) |  |  | 4,499,193 |
Costs and expenses: |  |  |  |  |  |  |
Motorcycles and related products cost of goods sold | 2,566,272 |  |  | — |  |  | — |  |  | 2,566,272 |
Financial services interest expense | — |  |  | 276,943 |  |  | — |  |  | 276,943 |
Financial services provision for credit losses | — |  |  | 175,017 |  |  | — |  |  | 175,017 |
Selling, administrative and engineering expense | 744,663 |  |  | 135,169 |  |  | (8,847) |  |  | 870,985 |
| 3,310,935 |  |  | 587,129 |  |  | (8,847) |  |  | 3,889,217 |
Operating income | 413,733 |  |  | 196,210 |  |  | 33 |  |  | 609,976 |
Other income, net | 54,851 |  |  | — |  |  | — |  |  | 54,851 |
Investment income | 45,665 |  |  | — |  |  | — |  |  | 45,665 |
Interest expense | 23,066 |  |  | — |  |  | — |  |  | 23,066 |
Income before income taxes | 491,183 |  |  | 196,210 |  |  | 33 |  |  | 687,426 |
Provision for income taxes | 76,648 |  |  | 47,173 |  |  | — |  |  | 123,821 |
Net income | 414,535 |  |  | 149,037 |  |  | 33 |  |  | 563,605 |
Less: (income) loss attributable to noncontrolling interests | 8,644 |  |  | — |  |  | — |  |  | 8,644 |
Net income attributable to Harley-Davidson, Inc. | $ | 423,179 |  |  | $ | 149,037 |  |  | $ | 33 |  |  | $ | 572,249 |
| Three months ended September 30, 2023
| Non-Financial Services Entities |  | Financial Services Entities |  | Consolidating Adjustments |  | Consolidated
Revenue: |  |  |  |  |  |  |
Motorcycles and Related Products | $ | 1,307,289 |  |  | $ | — |  |  | $ | (2,164) |  |  | $ | 1,305,125 |
Financial Services | — |  |  | 244,554 |  |  | (620) |  |  | 243,934 |
| 1,307,289 |  |  | 244,554 |  |  | (2,784) |  |  | 1,549,059 |
Costs and expenses: |  |  |  |  |  |  |
Motorcycles and Related Products cost of goods sold | 893,343 |  |  | — |  |  | — |  |  | 893,343 |
Financial Services interest expense | — |  |  | 84,123 |  |  | — |  |  | 84,123 |
Financial Services provision for credit losses | — |  |  | 60,854 |  |  | — |  |  | 60,854 |
Selling, administrative and engineering expense | 262,444 |  |  | 41,745 |  |  | (2,735) |  |  | 301,454 |
| 1,155,787 |  |  | 186,722 |  |  | (2,735) |  |  | 1,339,774 |
Operating income | 151,502 |  |  | 57,832 |  |  | (49) |  |  | 209,285 |
Other income, net | 26,814 |  |  | — |  |  | — |  |  | 26,814 |
Investment income | 209,868 |  |  | — |  |  | (200,000) |  |  | 9,868 |
Interest expense | 7,688 |  |  | — |  |  | — |  |  | 7,688 |
Income before income taxes | 380,496 |  |  | 57,832 |  |  | (200,049) |  |  | 238,279 |
Provision for income taxes | 27,867 |  |  | 14,309 |  |  | — |  |  | 42,176 |
Net income | 352,629 |  |  | 43,523 |  |  | (200,049) |  |  | 196,103 |
Less: (income) loss attributable to noncontrolling interests | 2,546 |  |  | — |  |  | — |  |  | 2,546 |
Net income attributable to Harley-Davidson, Inc. | $ | 355,175 |  |  | $ | 43,523 |  |  | $ | (200,049) |  |  | $ | 198,649 |
| Nine months ended September 30, 2023
| Non-Financial Services Entities |  | Financial Services Entities |  | Consolidating Adjustments |  | Consolidated
Revenue: |  |  |  |  |  |  |
Motorcycles and related products | $ | 4,082,312 |  |  | $ | — |  |  | $ | (6,434) |  |  | $ | 4,075,878 |
Financial services | — |  |  | 709,167 |  |  | (1,777) |  |  | 707,390 |
| 4,082,312 |  |  | 709,167 |  |  | (8,211) |  |  | 4,783,268 |
Costs and expenses: |  |  |  |  |  |  |
Motorcycles and related products cost of goods sold | 2,691,272 |  |  | — |  |  | — |  |  | 2,691,272 |
Financial services interest expense | — |  |  | 243,677 |  |  | — |  |  | 243,677 |
Financial services provision for credit losses | — |  |  | 170,496 |  |  | — |  |  | 170,496 |
Selling, administrative and engineering expense | 762,963 |  |  | 122,871 |  |  | (8,243) |  |  | 877,591 |
| 3,454,235 |  |  | 537,044 |  |  | (8,243) |  |  | 3,983,036 |
Operating income | 628,077 |  |  | 172,123 |  |  | 32 |  |  | 800,232 |
Other income, net | 54,136 |  |  | — |  |  | — |  |  | 54,136 |
Investment income | 231,044 |  |  | — |  |  | (200,000) |  |  | 31,044 |
Interest expense | 23,104 |  |  | — |  |  | — |  |  | 23,104 |
Income before income taxes | 890,153 |  |  | 172,123 |  |  | (199,968) |  |  | 862,308 |
Provision for income taxes | 150,265 |  |  | 40,281 |  |  | — |  |  | 190,546 |
Net income | 739,888 |  |  | 131,842 |  |  | (199,968) |  |  | 671,762 |
Less: (income) loss attributable to noncontrolling interests | 9,016 |  |  | — |  |  | — |  |  | 9,016 |
Net income attributable to Harley-Davidson, Inc. | $ | 748,904 |  |  | $ | 131,842 |  |  | $ | (199,968) |  |  | $ | 680,778 |
Schedule of Balance Sheet |
| September 30, 2024
| Non-Financial Services Entities |  | Financial Services Entities |  | Consolidating Adjustments |  | Consolidated
ASSETS |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |
Cash and cash equivalents | $ | 1,213,301 |  |  | $ | 1,030,609 |  |  | $ | — |  |  | $ | 2,243,910 |
Accounts receivable, net | 498,694 |  |  | 60 |  |  | (191,053) |  |  | 307,701 |
Finance receivables, net | — |  |  | 2,300,551 |  |  | — |  |  | 2,300,551 |
Inventories, net | 681,864 |  |  | — |  |  | — |  |  | 681,864 |
Restricted cash | — |  |  | 147,910 |  |  | — |  |  | 147,910 |
Other current assets | 167,555 |  |  | 58,209 |  |  | (17,764) |  |  | 208,000 |
| 2,561,414 |  |  | 3,537,339 |  |  | (208,817) |  |  | 5,889,936 |
Finance receivables, net | — |  |  | 5,499,836 |  |  | — |  |  | 5,499,836 |
Property, plant and equipment, net | 713,603 |  |  | 14,864 |  |  | — |  |  | 728,467 |
Pension and postretirement assets | 452,515 |  |  | — |  |  | — |  |  | 452,515 |
Goodwill | 62,909 |  |  | — |  |  | — |  |  | 62,909 |
Deferred income taxes | 77,990 |  |  | 92,208 |  |  | (908) |  |  | 169,290 |
Lease assets | 66,304 |  |  | 3,533 |  |  | — |  |  | 69,837 |
Other long-term assets | 223,749 |  |  | 46,247 |  |  | (116,127) |  |  | 153,869 |
| $ | 4,158,484 |  |  | $ | 9,194,027 |  |  | $ | (325,852) |  |  | $ | 13,026,659 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |
Accounts payable | $ | 283,296 |  |  | $ | 213,376 |  |  | $ | (191,053) |  |  | $ | 305,619 |
Accrued liabilities | 491,697 |  |  | 151,907 |  |  | (17,252) |  |  | 626,352 |
Short-term deposits, net | — |  |  | 178,638 |  |  | — |  |  | 178,638 |
Short-term debt | — |  |  | 497,373 |  |  | — |  |  | 497,373 |
Current portion of long-term debt, net | 449,759 |  |  | 2,111,776 |  |  | — |  |  | 2,561,535 |
| 1,224,752 |  |  | 3,153,070 |  |  | (208,305) |  |  | 4,169,517 |
Long-term deposits, net | — |  |  | 370,372 |  |  | — |  |  | 370,372 |
Long-term debt, net | 296,859 |  |  | 4,442,648 |  |  | — |  |  | 4,739,507 |
Lease liabilities | 48,821 |  |  | 3,134 |  |  | — |  |  | 51,955 |
Pension and postretirement liabilities | 58,551 |  |  | — |  |  | — |  |  | 58,551 |
Deferred income taxes | 30,266 |  |  | 3,227 |  |  | — |  |  | 33,493 |
Other long-term liabilities | 147,563 |  |  | 28,697 |  |  | 1,892 |  |  | 178,152 |
Commitments and contingencies (Note 14) |  |  |  |  |  |  |
Shareholders’ equity | 2,351,672 |  |  | 1,192,879 |  |  | (119,439) |  |  | 3,425,112 |
| $ | 4,158,484 |  |  | $ | 9,194,027 |  |  | $ | (325,852) |  |  | $ | 13,026,659 |
| September 30, 2023
| Non-Financial Services Entities |  | Financial Services Entities |  | Consolidating Adjustments |  | Consolidated
ASSETS |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |
Cash and cash equivalents | $ | 1,218,420 |  |  | $ | 659,931 |  |  | $ | — |  |  | $ | 1,878,351 |
Accounts receivable, net | 672,755 |  |  | 8 |  |  | (357,432) |  |  | 315,331 |
Finance receivables, net | — |  |  | 2,101,965 |  |  | — |  |  | 2,101,965 |
Inventories, net | 768,765 |  |  | — |  |  | — |  |  | 768,765 |
Restricted cash | — |  |  | 130,838 |  |  | — |  |  | 130,838 |
Other current assets | 172,174 |  |  | 59,920 |  |  | (4,538) |  |  | 227,556 |
| 2,832,114 |  |  | 2,952,662 |  |  | (361,970) |  |  | 5,422,806 |
Finance receivables, net | — |  |  | 5,553,259 |  |  | — |  |  | 5,553,259 |
Property, plant and equipment, net | 682,350 |  |  | 20,954 |  |  | — |  |  | 703,304 |
Pension and postretirement assets | 369,440 |  |  | — |  |  | — |  |  | 369,440 |
Goodwill | 61,935 |  |  | — |  |  | — |  |  | 61,935 |
Deferred income taxes | 54,972 |  |  | 90,976 |  |  | (1,184) |  |  | 144,764 |
Lease assets | 65,327 |  |  | 3,707 |  |  | — |  |  | 69,034 |
Other long-term assets | 223,757 |  |  | 26,765 |  |  | (112,848) |  |  | 137,674 |
| $ | 4,289,895 |  |  | $ | 8,648,323 |  |  | $ | (476,002) |  |  | $ | 12,462,216 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |
Accounts payable | $ | 362,662 |  |  | $ | 376,897 |  |  | $ | (357,432) |  |  | $ | 382,127 |
Accrued liabilities | 461,725 |  |  | 128,585 |  |  | (4,176) |  |  | 586,134 |
Short-term deposits, net |  |  | 250,987 |  |  |  |  | 250,987 |
Short-term debt | — |  |  | 815,081 |  |  | — |  |  | 815,081 |
Current portion of long-term debt, net | — |  |  | 638,496 |  |  | — |  |  | 638,496 |
| 824,387 |  |  | 2,210,046 |  |  | (361,608) |  |  | 2,672,825 |
Long-term deposits, net | — |  |  | 227,946 |  |  | — |  |  | 227,946 |
Long-term debt, net | 745,900 |  |  | 5,110,105 |  |  | — |  |  | 5,856,005 |
Lease liabilities | 48,572 |  |  | 3,666 |  |  | — |  |  | 52,238 |
Pension and postretirement liabilities | 67,991 |  |  | — |  |  | — |  |  | 67,991 |
Deferred income taxes | 27,116 |  |  | 2,412 |  |  | — |  |  | 29,528 |
Other long-term liabilities | 144,405 |  |  | 98,041 |  |  | 1,967 |  |  | 244,413 |
Commitments and contingencies (Note 14) |  |  |  |  |  |  |
Shareholders’ equity | 2,431,524 |  |  | 996,107 |  |  | (116,361) |  |  | 3,311,270 |
| $ | 4,289,895 |  |  | $ | 8,648,323 |  |  | $ | (476,002) |  |  | $ | 12,462,216 |
Schedule of Cash Flows |
| Nine months ended September 30, 2024
| Non-Financial Services Entities |  | Financial Services Entities |  | Consolidating Adjustments |  | Consolidated
Cash flows from operating activities: |  |  |  |  |  |  |
Net income | $ | 414,535 |  |  | $ | 149,037 |  |  | $ | 33 |  |  | $ | 563,605 |
Adjustments to reconcile Net income to Net cash provided by operating activities: |  |  |  |  |  |  |
Depreciation and amortization | 112,605 |  |  | 6,963 |  |  | — |  |  | 119,568 |
Amortization of deferred loan origination costs | — |  |  | 54,461 |  |  | — |  |  | 54,461 |
Amortization of financing origination fees | 540 |  |  | 9,823 |  |  | — |  |  | 10,363 |
Provision for long-term employee benefits | (40,076) |  |  | — |  |  | — |  |  | (40,076) |
Employee benefit plan contributions and payments | (3,781) |  |  | — |  |  | — |  |  | (3,781) |
Stock compensation expense | 38,234 |  |  | 1,586 |  |  | — |  |  | 39,820 |
Net change in wholesale finance receivables related to sales | — |  |  | — |  |  | (211,800) |  |  | (211,800) |
Provision for credit losses | — |  |  | 175,017 |  |  | — |  |  | 175,017 |
Deferred income taxes | 3,347 |  |  | (4,724) |  |  | (438) |  |  | (1,815) |
Other, net | 15,505 |  |  | 4,085 |  |  | (33) |  |  | 19,557 |
Changes in current assets and liabilities: |  |  |  |  |  |  |
Accounts receivable, net | (79,746) |  |  | — |  |  | 43,217 |  |  | (36,529) |
Finance receivables – accrued interest and other | — |  |  | 2,325 |  |  | — |  |  | 2,325 |
Inventories, net | 253,373 |  |  | — |  |  | — |  |  | 253,373 |
Accounts payable and accrued liabilities | (35,743) |  |  | 53,591 |  |  | (30,751) |  |  | (12,903) |
Other current assets | (23,008) |  |  | 12,295 |  |  | 10,183 |  |  | (530) |
| 241,250 |  |  | 315,422 |  |  | (189,622) |  |  | 367,050 |
Net cash provided by operating activities | 655,785 |  |  | 464,459 |  |  | (189,589) |  |  | 930,655 |
Cash flows from investing activities: |  |  |  |  |  |  |
Capital expenditures | (139,295) |  |  | (1,129) |  |  | — |  |  | (140,424) |
Origination of finance receivables | — |  |  | (5,671,416) |  |  | 2,668,679 |  |  | (3,002,737) |
Collections on finance receivables | — |  |  | 5,136,239 |  |  | (2,479,090) |  |  | 2,657,149 |
Other investing activities | (1,165) |  |  | — |  |  | 1,000 |  |  | (165) |
Net cash used by investing activities | (140,460) |  |  | (536,306) |  |  | 190,589 |  |  | (486,177) |
| Nine months ended September 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 | — |  |  | 1,145,211 |  |  | — |  |  | 1,145,211 |
Repayments of securitization debt | — |  |  | (782,161) |  |  | — |  |  | (782,161) |
Borrowings of asset-backed commercial paper | — |  |  | 366,171 |  |  | — |  |  | 366,171 |
Repayments of asset-backed commercial paper | — |  |  | (195,709) |  |  | — |  |  | (195,709) |
Net decrease in unsecured commercial paper | — |  |  | (387,392) |  |  | — |  |  | (387,392) |
Net increase in deposits | — |  |  | 100,737 |  |  | — |  |  | 100,737 |
Dividends paid | (69,454) |  |  | — |  |  | — |  |  | (69,454) |
Repurchase of common stock | (359,810) |  |  | — |  |  | — |  |  | (359,810) |
Other financing activities | 11 |  |  | 1,000 |  |  | (1,000) |  |  | 11 |
Net cash (used) provided by financing activities | (429,253) |  |  | 743,713 |  |  | (1,000) |  |  | 313,460 |
Effect of exchange rate changes on cash, cash equivalents and restricted cash | (171) |  |  | 369 |  |  | — |  |  | 198 |
Net increase in cash, cash equivalents and restricted cash | $ | 85,901 |  |  | $ | 672,235 |  |  | $ | — |  |  | $ | 758,136 |
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 | 85,901 |  |  | 672,235 |  |  | — |  |  | 758,136 |
Cash, cash equivalents and restricted cash, end of period | $ | 1,213,301 |  |  | $ | 1,193,646 |  |  | $ | — |  |  | $ | 2,406,947 |
| Nine months ended September 30, 2023
| Non-Financial Services Entities |  | Financial Services Entities |  | Consolidating Adjustments |  | Consolidated
Cash flows from operating activities: |  |  |  |  |  |  |
Net income | $ | 739,888 |  |  | $ | 131,842 |  |  | $ | (199,968) |  |  | $ | 671,762 |
Adjustments to reconcile Net income to Net cash provided by operating activities: |  |  |  |  |  |  |
Depreciation and amortization | 105,824 |  |  | 6,768 |  |  | — |  |  | 112,592 |
Amortization of deferred loan origination costs | — |  |  | 65,996 |  |  | — |  |  | 65,996 |
Amortization of financing origination fees | 532 |  |  | 9,202 |  |  | — |  |  | 9,734 |
Provision for long-term employee benefits | (50,373) |  |  | — |  |  | — |  |  | (50,373) |
Employee benefit plan contributions and payments | (2,668) |  |  | — |  |  | — |  |  | (2,668) |
Stock compensation expense | 61,642 |  |  | 2,896 |  |  | — |  |  | 64,538 |
Net change in wholesale finance receivables related to sales | — |  |  | — |  |  | (392,817) |  |  | (392,817) |
Provision for credit losses | — |  |  | 170,496 |  |  | — |  |  | 170,496 |
Deferred income taxes | 147 |  |  | (8,764) |  |  | 162 |  |  | (8,455) |
Other, net | (15,606) |  |  | (4,099) |  |  | (33) |  |  | (19,738) |
Changes in current assets and liabilities: |  |  |  |  |  |  |
Accounts receivable, net | (312,549) |  |  | — |  |  | 240,465 |  |  | (72,084) |
Finance receivables – accrued interest and other | — |  |  | 2,366 |  |  | — |  |  | 2,366 |
Inventories, net | 160,742 |  |  | — |  |  | — |  |  | 160,742 |
Accounts payable and accrued liabilities | (10,440) |  |  | 257,748 |  |  | (232,855) |  |  | 14,453 |
Other current assets | (24,418) |  |  | 4,645 |  |  | (4) |  |  | (19,777) |
| (87,167) |  |  | 507,254 |  |  | (385,082) |  |  | 35,005 |
Net cash provided by operating activities | 652,721 |  |  | 639,096 |  |  | (585,050) |  |  | 706,767 |
Cash flows from investing activities: |  |  |  |  |  |  |
Capital expenditures | (135,768) |  |  | (3,134) |  |  | — |  |  | (138,902) |
Origination of finance receivables | — |  |  | (6,035,046) |  |  | 2,872,089 |  |  | (3,162,957) |
Collections on finance receivables | — |  |  | 5,276,887 |  |  | (2,487,039) |  |  | 2,789,848 |
Other investing activities | (1,622) |  |  | — |  |  | 2,500 |  |  | 878 |
Net cash used by investing activities | (137,390) |  |  | (761,293) |  |  | 387,550 |  |  | (511,133) |
| Nine months ended September 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 | — |  |  | 1,045,547 |  |  | — |  |  | 1,045,547 |
Repayments of securitization debt | — |  |  | (930,608) |  |  | — |  |  | (930,608) |
Borrowings of asset-backed commercial paper | — |  |  | 42,429 |  |  | — |  |  | 42,429 |
Repayments of asset-backed commercial paper | — |  |  | (187,599) |  |  | — |  |  | (187,599) |
Net decrease in unsecured commercial paper | — |  |  | 43,523 |  |  | — |  |  | 43,523 |
Net increase in deposits | — |  |  | 161,157 |  |  | — |  |  | 161,157 |
Dividends paid | (72,775) |  |  | (200,000) |  |  | 200,000 |  |  | (72,775) |
Repurchase of common stock | (239,428) |  |  | — |  |  | — |  |  | (239,428) |
Other financing activities | 1,706 |  |  | 2,500 |  |  | (2,500) |  |  | 1,706 |
Net cash (used) provided by financing activities | (310,497) |  |  | 366,573 |  |  | 197,500 |  |  | 253,576 |
Effect of exchange rate changes on cash, cash equivalents and restricted cash | (8,212) |  |  | (203) |  |  | — |  |  | (8,415) |
Net increase in cash, cash equivalents and restricted cash | $ | 196,622 |  |  | $ | 244,173 |  |  | $ | — |  |  | $ | 440,795 |
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 | 196,622 |  |  | 244,173 |  |  | — |  |  | 440,795 |
Cash, cash equivalents and restricted cash, end of period | $ | 1,218,420 |  |  | $ | 801,552 |  |  | $ | — |  |  | $ | 2,019,972 |

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