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Additional Balance Sheet and Cash Flow Information (Tables) | 12 Months Ended
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Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Marketable Securities | Investments in marketable securities consisted of the following at December 31 (in thousands):
| 2024 |  | 2023
Mutual funds | $ | 32,070 |  |  | $ | 34,079 |
Schedule of Inventories, Net | Inventories, net consisted of the following as of December 31 (in thousands):
| 2024 |  | 2023
Raw materials and work in process | $ | 353,819 |  |  | $ | 389,221 |
Motorcycle finished goods | 411,442 |  |  | 514,964 |
Parts and accessories and apparel | 110,591 |  |  | 150,844 |
Inventory at lower of FIFO cost or net realizable value | 875,852 |  |  | 1,055,029 |
Excess of FIFO over LIFO cost | (130,059) |  |  | (125,078) |
| $ | 745,793 |  |  | $ | 929,951 |
Schedule of Property, Plant and Equipment, at Cost | Property, plant and equipment, net consisted of the following as of December 31 (in thousands):
| 2024 |  | 2023
Land and related improvements | $ | 68,140 |  |  | $ | 66,939 |
Buildings and related improvements | 450,890 |  |  | 431,215 |
Machinery and equipment | 1,503,514 |  |  | 1,491,448 |
Software | 627,161 |  |  | 722,213 |
Construction in progress | 246,933 |  |  | 243,010 |
| 2,896,638 |  |  | 2,954,825 |
Accumulated depreciation | (2,139,566) |  |  | (2,223,101) |
| $ | 757,072 |  |  | $ | 731,724 |
Schedule of Accrued Liabilities | Accrued liabilities consisted of the following as of December 31 (in thousands):
| 2024 |  | 2023
Interest | $ | 85,919 |  |  | $ | 84,313 |
Sales incentive programs | 80,305 |  |  | 116,167 |
Payroll, employee benefits and related expenses | 66,238 |  |  | 101,955 |
Warranty and recalls | 46,260 |  |  | 41,375 |
Contract liability | 23,083 |  |  | 23,357 |
Tax-related accruals | 20,029 |  |  | 38,219 |
Leases | 18,658 |  |  | 18,685 |
Fair value of derivative financial instruments | 311 |  |  | 12,806 |
Other | 253,157 |  |  | 209,982 |
| $ | 593,960 |  |  | $ | 646,859 |
Schedule of Time Deposit Maturities | Future maturities of the Company's certificates of deposit as of December 31, 2024 were as follows (in thousands):
2025 | $ | 173,737 |
2026 | 243,489 |
2027 | 119,263 |
2028 | — |
2029 | 15,200 |
Future maturities | 551,689 |
Unamortized fees | (1,103) |
| $ | 550,586 |
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 for the years ended December 31, was as follows (in thousands):
| 2024 |  | 2023 |  | 2022
Cash flows from operating activities: |  |  |  |  |
Net income | $ | 445,175 |  |  | $ | 695,046 |  |  | $ | 739,214 |
Adjustments to reconcile Net income to Net cash provided by operating activities: |  |  |  |  |
Depreciation and amortization | 160,673 |  |  | 158,112 |  |  | 151,942 |
Amortization of deferred loan origination costs | 70,745 |  |  | 85,018 |  |  | 94,914 |
Amortization of financing origination fees | 13,963 |  |  | 13,208 |  |  | 15,105 |
Provision for long-term employee benefits | (54,008) |  |  | (67,624) |  |  | (21,891) |
Employee benefit plan contributions and payments | (5,078) |  |  | (5,736) |  |  | (14,320) |
Stock compensation expense | 49,005 |  |  | 82,901 |  |  | 54,353 |
Net change in wholesale finance receivables related to sales | 46,884 |  |  | (387,743) |  |  | (198,623) |
Provision for credit losses | 247,225 |  |  | 227,158 |  |  | 145,133 |
Deferred income taxes | (26,276) |  |  | (30,059) |  |  | (15,936) |
Other, net | 17,070 |  |  | (39,713) |  |  | (13,027) |
Changes in current assets and liabilities: |  |  |  |  |
Accounts receivable, net | 19,778 |  |  | (11,443) |  |  | (82,385) |
Finance receivables – accrued interest and other | 36 |  |  | (339) |  |  | 414 |
Inventories, net | 164,609 |  |  | 21,257 |  |  | (254,170) |
Accounts payable and accrued liabilities | (55,436) |  |  | 28,570 |  |  | 4,503 |
Other current assets | (30,532) |  |  | (13,726) |  |  | (56,765) |
| 618,658 |  |  | 59,841 |  |  | (190,753) |
Net cash provided by operating activities | $ | 1,063,833 |  |  | $ | 754,887 |  |  | $ | 548,461 |
Cash paid during the years ended December 31, for interest and income taxes was as follows (in thousands):
| 2024 |  | 2023 |  | 2022
Interest | $ | 358,996 |  |  | $ | 290,467 |  |  | $ | 231,651 |
Income taxes | $ | 111,117 |  |  | $ | 237,658 |  |  | $ | 244,374 |

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