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v3.25.1

Supplemental Consolidating Data (Tables) | 3 Months Ended
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Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Operations | Supplemental consolidating data is as follows (in thousands):
| Three months ended March 31, 2025
| Non-Financial Services Entities |  | Financial Services Entities |  | Consolidating Adjustments |  | Consolidated
Revenue: |  |  |  |  |  |  |
Motorcycles and related products | $ | 1,086,512 |  |  | $ | — |  |  | $ | (2,264) |  |  | $ | 1,084,248 |
Financial services | — |  |  | 245,717 |  |  | (756) |  |  | 244,961 |
| 1,086,512 |  |  | 245,717 |  |  | (3,020) |  |  | 1,329,209 |
Costs and expenses: |  |  |  |  |  |  |
Motorcycles and related products cost of goods sold | 770,785 |  |  | — |  |  | — |  |  | 770,785 |
Financial services interest expense | — |  |  | 88,934 |  |  | — |  |  | 88,934 |
Financial services provision for credit losses | — |  |  | 53,334 |  |  | — |  |  | 53,334 |
Selling, administrative and engineering expense | 217,948 |  |  | 40,936 |  |  | (3,227) |  |  | 255,657 |
| 988,733 |  |  | 183,204 |  |  | (3,227) |  |  | 1,168,710 |
Operating income | 97,779 |  |  | 62,513 |  |  | 207 |  |  | 160,499 |
Other income, net | 16,273 |  |  | — |  |  | — |  |  | 16,273 |
Investment income | 8,941 |  |  | — |  |  | — |  |  | 8,941 |
Interest expense | 7,686 |  |  | — |  |  | — |  |  | 7,686 |
Income before income taxes | 115,307 |  |  | 62,513 |  |  | 207 |  |  | 178,027 |
Income tax provision | 32,768 |  |  | 14,462 |  |  | — |  |  | 47,230 |
Net income | 82,539 |  |  | 48,051 |  |  | 207 |  |  | 130,797 |
Less: (income) loss attributable to noncontrolling interests | 2,307 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,307 |
Net income attributable to Harley-Davidson, Inc. | $ | 84,846 |  |  | $ | 48,051 |  |  | $ | 207 |  |  | $ | 133,104 |
| Three months ended March 31, 2024
| Non-Financial Services Entities |  | Financial Services Entities |  | Consolidating Adjustments |  | Consolidated
Revenue: |  |  |  |  |  |  |
Motorcycles and Related Products | $ | 1,482,759 |  |  | $ | — |  |  | $ | (1,949) |  |  | $ | 1,480,810 |
Financial Services | — |  |  | 249,239 |  |  | (442) |  |  | 248,797 |
| 1,482,759 |  |  | 249,239 |  |  | (2,391) |  |  | 1,729,607 |
Costs and expenses: |  |  |  |  |  |  |
Motorcycles and Related Products cost of goods sold | 1,023,681 |  |  | — |  |  | — |  |  | 1,023,681 |
Financial Services interest expense | — |  |  | 88,739 |  |  | — |  |  | 88,739 |
Financial Services provision for credit losses | — |  |  | 61,010 |  |  | — |  |  | 61,010 |
Selling, administrative and engineering expense | 248,474 |  |  | 47,122 |  |  | (2,498) |  |  | 293,098 |
| 1,272,155 |  |  | 196,871 |  |  | (2,498) |  |  | 1,466,528 |
Operating income | 210,604 |  |  | 52,368 |  |  | 107 |  |  | 263,079 |
Other income, net | 20,564 |  |  | — |  |  | — |  |  | 20,564 |
Investment income | 14,404 |  |  | — |  |  | — |  |  | 14,404 |
Interest expense | 7,679 |  |  | — |  |  | — |  |  | 7,679 |
Income before income taxes | 237,893 |  |  | 52,368 |  |  | 107 |  |  | 290,368 |
Provision for income taxes | 45,530 |  |  | 12,605 |  |  | — |  |  | 58,135 |
Net income | 192,363 |  |  | 39,763 |  |  | 107 |  |  | 232,233 |
Less: (income) loss attributable to noncontrolling interests | 2,708 |  |  | — |  |  | — |  |  | 2,708 |
Net income attributable to Harley-Davidson, Inc. | $ | 195,071 |  |  | $ | 39,763 |  |  | $ | 107 |  |  | $ | 234,941 |
Schedule of Comprehensive Income |
| Three months ended March 31, 2025
| Non-Financial Services Entities |  | Financial Services Entities |  | Consolidating Adjustments |  | Consolidated
Net income | $ | 82,539 |  |  | $ | 48,051 |  |  | $ | 207 |  |  | $ | 130,797 |
Other comprehensive income (loss), net of tax: |  |  |  |  |  |  |
Foreign currency translation adjustments | 6,201 |  |  | 1,164 |  |  | — |  |  | 7,365 |
Derivative financial instruments | (9,050) |  |  | (3,015) |  |  | — |  |  | (12,065) |
Pension and postretirement benefit plans | (777) |  |  | — |  |  | — |  |  | (777) |
| (3,626) |  |  | (1,851) |  |  | — |  |  | (5,477) |
Comprehensive income | 78,913 |  |  | 46,200 |  |  | 207 |  |  | 125,320 |
Less: Comprehensive loss attributable to noncontrolling interests | 2,307 |  |  | — |  |  | — |  |  | 2,307 |
Comprehensive income attributable to Harley-Davidson, Inc. | $ | 81,220 |  |  | $ | 46,200 |  |  | $ | 207 |  |  | $ | 127,627 |
| Three months ended March 31, 2024
| Non-Financial Services Entities |  | Financial Services Entities |  | Consolidating Adjustments |  | Consolidated
Net income | $ | 192,363 |  |  | $ | 39,763 |  |  | $ | 107 |  |  | $ | 232,233 |
Other comprehensive (loss) income, net of tax: |  |  |  |  |  |  |
Foreign currency translation adjustments | (28,385) |  |  | (2,909) |  |  | — |  |  | (31,294) |
Derivative financial instruments | 9,582 |  |  | (5,061) |  |  | — |  |  | 4,521 |
Pension and postretirement benefit plans | (823) |  |  | — |  |  | — |  |  | (823) |
| (19,626) |  |  | (7,970) |  |  | — |  |  | (27,596) |
Comprehensive income | 172,737 |  |  | 31,793 |  |  | 107 |  |  | 204,637 |
Less: Comprehensive loss attributable to noncontrolling interests | 2,708 |  |  | — |  |  | — |  |  | 2,708 |
Comprehensive income attributable to Harley-Davidson, Inc. | $ | 175,445 |  |  | $ | 31,793 |  |  | $ | 107 |  |  | $ | 207,345 |
Schedule of Balance Sheet |
| March 31, 2025
| Non-Financial Services Entities |  | Financial Services Entities |  | Consolidating Adjustments |  | Consolidated
ASSETS |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |
Cash and cash equivalents | $ | 947,446 |  |  | $ | 983,729 |  |  | $ | — |  |  | $ | 1,931,175 |
Accounts receivable, net | 635,492 |  |  | 66 |  |  | (322,224) |  |  | 313,334 |
Finance receivables, net | — |  |  | 2,286,672 |  |  | — |  |  | 2,286,672 |
Inventories, net | 712,312 |  |  | — |  |  | — |  |  | 712,312 |
Restricted cash | — |  |  | 150,132 |  |  | — |  |  | 150,132 |
Other current assets | 232,091 |  |  | 62,581 |  |  | (40,985) |  |  | 253,687 |
| 2,527,341 |  |  | 3,483,180 |  |  | (363,209) |  |  | 5,647,312 |
Finance receivables, net | — |  |  | 5,112,935 |  |  | — |  |  | 5,112,935 |
Property, plant and equipment, net | 739,818 |  |  | 10,801 |  |  | — |  |  | 750,619 |
Pension and postretirement assets | 454,359 |  |  | — |  |  | — |  |  | 454,359 |
Goodwill | 62,347 |  |  | — |  |  | — |  |  | 62,347 |
Deferred income taxes | 74,233 |  |  | 85,560 |  |  | (753) |  |  | 159,040 |
Lease assets | 60,410 |  |  | 2,995 |  |  | — |  |  | 63,405 |
Other long-term assets | 216,289 |  |  | 36,234 |  |  | (120,159) |  |  | 132,364 |
| $ | 4,134,797 |  |  | $ | 8,731,705 |  |  | $ | (484,121) |  |  | $ | 12,382,381 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |
Accounts payable | $ | 403,524 |  |  | $ | 361,829 |  |  | $ | (322,224) |  |  | $ | 443,129 |
Accrued liabilities | 525,799 |  |  | 177,331 |  |  | (40,457) |  |  | 662,673 |
Short-term deposits, net | — |  |  | 178,376 |  |  | — |  |  | 178,376 |
Short-term debt | — |  |  | 498,500 |  |  | — |  |  | 498,500 |
Current portion of long-term debt, net | 449,903 |  |  | 1,389,197 |  |  | — |  |  | 1,839,100 |
| 1,379,226 |  |  | 2,605,233 |  |  | (362,681) |  |  | 3,621,778 |
Long-term deposits, net | — |  |  | 334,954 |  |  | — |  |  | 334,954 |
Long-term debt, net | 297,078 |  |  | 4,666,183 |  |  | — |  |  | 4,963,261 |
Lease liabilities | 45,304 |  |  | 2,663 |  |  | — |  |  | 47,967 |
Pension and postretirement liabilities | 53,104 |  |  | — |  |  | — |  |  | 53,104 |
Deferred income taxes | 15,784 |  |  | 1,231 |  |  | — |  |  | 17,015 |
Other long-term liabilities | 129,560 |  |  | 39,440 |  |  | 1,612 |  |  | 170,612 |
Commitments and contingencies (Note 14) |  |  |  |  |  |  |
Shareholders’ equity | 2,214,741 |  |  | 1,082,001 |  |  | (123,052) |  |  | 3,173,690 |
| $ | 4,134,797 |  |  | $ | 8,731,705 |  |  | $ | (484,121) |  |  | $ | 12,382,381 |
| December 31, 2024
| Non-Financial Services Entities |  | Financial Services Entities |  | Consolidating Adjustments |  | Consolidated
ASSETS |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |
Cash and cash equivalents | $ | 1,105,663 |  |  | $ | 483,945 |  |  | $ | — |  |  | $ | 1,589,608 |
Accounts receivable, net | 294,776 |  |  | 65 |  |  | (60,526) |  |  | 234,315 |
Finance receivables, net | — |  |  | 2,031,496 |  |  | — |  |  | 2,031,496 |
Inventories, net | 745,793 |  |  | — |  |  | — |  |  | 745,793 |
Restricted cash | — |  |  | 135,661 |  |  | — |  |  | 135,661 |
Other current assets | 273,791 |  |  | 63,608 |  |  | (77,635) |  |  | 259,764 |
| 2,420,023 |  |  | 2,714,775 |  |  | (138,161) |  |  | 4,996,637 |
Finance receivables, net | — |  |  | 5,256,798 |  |  | — |  |  | 5,256,798 |
Property, plant and equipment, net | 743,875 |  |  | 13,197 |  |  | — |  |  | 757,072 |
Pension and postretirement assets | 440,825 |  |  | — |  |  | — |  |  | 440,825 |
Goodwill | 61,655 |  |  | — |  |  | — |  |  | 61,655 |
Deferred income taxes | 88,734 |  |  | 88,109 |  |  | (1,017) |  |  | 175,826 |
Lease assets | 60,628 |  |  | 3,225 |  |  | — |  |  | 63,853 |
Other long-term assets | 221,694 |  |  | 26,805 |  |  | (119,586) |  |  | 128,913 |
| $ | 4,037,434 |  |  | $ | 8,102,909 |  |  | $ | (258,764) |  |  | $ | 11,881,579 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |
Accounts payable | $ | 275,314 |  |  | $ | 83,930 |  |  | $ | (60,526) |  |  | $ | 298,718 |
Accrued liabilities | 515,830 |  |  | 155,437 |  |  | (77,307) |  |  | 593,960 |
Short-term deposits, net | — |  |  | 173,099 |  |  | — |  |  | 173,099 |
Short-term debt | — |  |  | 640,204 |  |  | — |  |  | 640,204 |
Current portion of long-term debt, net | 449,831 |  |  | 1,401,682 |  |  | — |  |  | 1,851,513 |
| 1,240,975 |  |  | 2,454,352 |  |  | (137,833) |  |  | 3,557,494 |
Long-term deposits, net | — |  |  | 377,487 |  |  | — |  |  | 377,487 |
Long-term debt, net | 296,969 |  |  | 4,171,696 |  |  | — |  |  | 4,468,665 |
Lease liabilities | 44,520 |  |  | 2,900 |  |  | — |  |  | 47,420 |
Pension and postretirement liabilities | 53,874 |  |  | — |  |  | — |  |  | 53,874 |
Deferred income taxes | 15,765 |  |  | 1,124 |  |  | — |  |  | 16,889 |
Other long-term liabilities | 139,373 |  |  | 60,123 |  |  | 1,754 |  |  | 201,250 |
Commitments and contingencies (Note 14) |  |  |  |  |  |  |
Shareholders’ equity | 2,245,958 |  |  | 1,035,227 |  |  | (122,685) |  |  | 3,158,500 |
| $ | 4,037,434 |  |  | $ | 8,102,909 |  |  | $ | (258,764) |  |  | $ | 11,881,579 |
| March 31, 2024
| Non-Financial Services Entities |  | Financial Services Entities |  | Consolidating Adjustments |  | Consolidated
ASSETS |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |
Cash and cash equivalents | $ | 1,052,237 |  |  | $ | 412,377 |  |  | $ | — |  |  | $ | 1,464,614 |
Accounts receivable, net | 718,621 |  |  | 38 |  |  | (412,668) |  |  | 305,991 |
Finance receivables, net | — |  |  | 2,523,250 |  |  | — |  |  | 2,523,250 |
Inventories, net | 779,575 |  |  | — |  |  | — |  |  | 779,575 |
Restricted cash | — |  |  | 129,745 |  |  | — |  |  | 129,745 |
Other current assets | 138,623 |  |  | 55,101 |  |  | (10,994) |  |  | 182,730 |
| 2,689,056 |  |  | 3,120,511 |  |  | (423,662) |  |  | 5,385,905 |
Finance receivables, net | — |  |  | 5,382,772 |  |  | — |  |  | 5,382,772 |
Property, plant and equipment, net | 699,723 |  |  | 18,960 |  |  | — |  |  | 718,683 |
Pension and postretirement assets | 426,817 |  |  | — |  |  | — |  |  | 426,817 |
Goodwill | 62,286 |  |  | — |  |  | — |  |  | 62,286 |
Deferred income taxes | 71,083 |  |  | 83,744 |  |  | (745) |  |  | 154,082 |
Lease assets | 63,085 |  |  | 2,920 |  |  | — |  |  | 66,005 |
Other long-term assets | 227,542 |  |  | 25,998 |  |  | (115,170) |  |  | 138,370 |
| $ | 4,239,592 |  |  | $ | 8,634,905 |  |  | $ | (539,577) |  |  | $ | 12,334,920 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |
Accounts payable | $ | 369,067 |  |  | $ | 441,107 |  |  | $ | (412,668) |  |  | $ | 397,506 |
Accrued liabilities | 480,771 |  |  | 162,329 |  |  | (10,286) |  |  | 632,814 |
Short-term deposits, net | — |  |  | 240,445 |  |  | — |  |  | 240,445 |
Short-term debt | — |  |  | 938,719 |  |  | — |  |  | 938,719 |
Current portion of long-term debt, net | — |  |  | 1,281,840 |  |  | — |  |  | 1,281,840 |
| 849,838 |  |  | 3,064,440 |  |  | (422,954) |  |  | 3,491,324 |
Long-term deposits, net | — |  |  | 200,723 |  |  | — |  |  | 200,723 |
Long-term debt, net | 746,258 |  |  | 4,242,633 |  |  | — |  |  | 4,988,891 |
Lease liabilities | 45,830 |  |  | 2,559 |  |  | — |  |  | 48,389 |
Pension and postretirement liabilities | 59,226 |  |  | — |  |  | — |  |  | 59,226 |
Deferred income taxes | 30,267 |  |  | 3,242 |  |  | — |  |  | 33,509 |
Other long-term liabilities | 143,800 |  |  | 31,187 |  |  | 1,785 |  |  | 176,772 |
Commitments and contingencies (Note 14) |  |  |  |  |  |  |
Shareholders’ equity | 2,364,373 |  |  | 1,090,121 |  |  | (118,408) |  |  | 3,336,086 |
| $ | 4,239,592 |  |  | $ | 8,634,905 |  |  | $ | (539,577) |  |  | $ | 12,334,920 |
Schedule of Cash Flows |
| Three months ended March 31, 2025
| Non-Financial Services Entities |  | Financial Services Entities |  | Consolidating Adjustments |  | Consolidated
Cash flows from operating activities: |  |  |  |  |  |  |
Net income | $ | 82,539 |  |  | $ | 48,051 |  |  | $ | 207 |  |  | $ | 130,797 |
Adjustments to reconcile Net income to Net cash provided by operating activities: |  |  |  |  |  |  |
Depreciation and amortization | 39,344 |  |  | 2,360 |  |  | — |  |  | 41,704 |
Amortization of deferred loan origination costs | — |  |  | 15,856 |  |  | — |  |  | 15,856 |
Amortization of financing origination fees | 182 |  |  | 3,087 |  |  | — |  |  | 3,269 |
Provision for long-term employee benefits | (13,763) |  |  | — |  |  | — |  |  | (13,763) |
Employee benefit plan contributions and payments | (1,556) |  |  | — |  |  | — |  |  | (1,556) |
Stock compensation expense | 6,241 |  |  | 574 |  |  | — |  |  | 6,815 |
Net change in wholesale finance receivables related to sales | — |  |  | — |  |  | (270,851) |  |  | (270,851) |
Provision for credit losses | — |  |  | 53,334 |  |  | — |  |  | 53,334 |
Deferred income taxes | 14,735 |  |  | 4,102 |  |  | (264) |  |  | 18,573 |
Other, net | (5,550) |  |  | 8,567 |  |  | (209) |  |  | 2,808 |
Changes in current assets and liabilities: |  |  |  |  |  |  |
Accounts receivable, net | (334,284) |  |  | — |  |  | 261,698 |  |  | (72,586) |
Finance receivables – accrued interest and other | — |  |  | (3,496) |  |  | — |  |  | (3,496) |
Inventories, net | 42,217 |  |  | — |  |  | — |  |  | 42,217 |
Accounts payable and accrued liabilities | 125,876 |  |  | 299,158 |  |  | (221,753) |  |  | 203,281 |
Other current assets | 28,707 |  |  | (6,925) |  |  | (36,650) |  |  | (14,868) |
| (97,851) |  |  | 376,617 |  |  | (268,029) |  |  | 10,737 |
Net cash (used) provided by operating activities | (15,312) |  |  | 424,668 |  |  | (267,822) |  |  | 141,534 |
Cash flows from investing activities: |  |  |  |  |  |  |
Capital expenditures | (29,935) |  |  | (38) |  |  | — |  |  | (29,973) |
Origination of finance receivables | — |  |  | (1,493,955) |  |  | 757,154 |  |  | (736,801) |
Collections on finance receivables | — |  |  | 1,317,330 |  |  | (489,332) |  |  | 827,998 |
Other investing activities | 171 |  |  | — |  |  | — |  |  | 171 |
Net cash (used) provided by investing activities | (29,764) |  |  | (176,663) |  |  | 267,822 |  |  | 61,395 |
| Three months ended March 31, 2025
| Non-Financial Services Entities |  | Financial Services Entities |  | Consolidating Adjustments |  | Consolidated
Cash flows from financing activities: |  |  |  |  |  |  |
Proceeds from issuance of medium-term notes | — |  |  | 647,088 |  |  | — |  |  | 647,088 |
Repayments of securitization debt | — |  |  | (292,671) |  |  | — |  |  | (292,671) |
Borrowings of asset-backed commercial paper | — |  |  | 155,000 |  |  | — |  |  | 155,000 |
Repayments of asset-backed commercial paper | — |  |  | (65,004) |  |  | — |  |  | (65,004) |
Net decrease in unsecured commercial paper | — |  |  | (140,778) |  |  | — |  |  | (140,778) |
Net decrease in deposits | — |  |  | (37,439) |  |  | — |  |  | (37,439) |
Dividends paid | (22,921) |  |  | — |  |  | — |  |  | (22,921) |
Repurchase of common stock | (93,095) |  |  | — |  |  | — |  |  | (93,095) |
Other financing activities | 5 |  |  | — |  |  | — |  |  | 5 |
Net cash (used) provided by financing activities | (116,011) |  |  | 266,196 |  |  | — |  |  | 150,185 |
Effect of exchange rate changes on cash, cash equivalents and restricted cash | 2,870 |  |  | 429 |  |  | — |  |  | 3,299 |
Net (decrease) increase in cash, cash equivalents and restricted cash | $ | (158,217) |  |  | $ | 514,630 |  |  | $ | — |  |  | $ | 356,413 |
Cash, cash equivalents and restricted cash: |  |  |  |  |  |  |
Cash, cash equivalents and restricted cash, beginning of period | $ | 1,105,663 |  |  | $ | 635,191 |  |  | $ | — |  |  | $ | 1,740,854 |
Net (decrease) increase in cash, cash equivalents and restricted cash | (158,217) |  |  | 514,630 |  |  | — |  |  | 356,413 |
Cash, cash equivalents and restricted cash, end of period | $ | 947,446 |  |  | $ | 1,149,821 |  |  | $ | — |  |  | $ | 2,097,267 |
| Three months ended March 31, 2024
| Non-Financial Services Entities |  | Financial Services Entities |  | Consolidating Adjustments |  | Consolidated
Cash flows from operating activities: |  |  |  |  |  |  |
Net income | $ | 192,363 |  |  | $ | 39,763 |  |  | $ | 107 |  |  | $ | 232,233 |
Adjustments to reconcile Net income to Net cash provided by operating activities: |  |  |  |  |  |  |
Depreciation and amortization | 39,288 |  |  | 2,216 |  |  | — |  |  | 41,504 |
Amortization of deferred loan origination costs | — |  |  | 18,282 |  |  | — |  |  | 18,282 |
Amortization of financing origination fees | 180 |  |  | 3,178 |  |  | — |  |  | 3,358 |
Provision for long-term employee benefits | (13,933) |  |  | — |  |  | — |  |  | (13,933) |
Employee benefit plan contributions and payments | (1,399) |  |  | — |  |  | — |  |  | (1,399) |
Stock compensation expense | 15,583 |  |  | 629 |  |  | — |  |  | 16,212 |
Net change in wholesale finance receivables related to sales | — |  |  | — |  |  | (435,047) |  |  | (435,047) |
Provision for credit losses | — |  |  | 61,010 |  |  | — |  |  | 61,010 |
Deferred income taxes | 4,799 |  |  | 1,201 |  |  | (601) |  |  | 5,399 |
Other, net | (1,946) |  |  | 3,822 |  |  | (107) |  |  | 1,769 |
Changes in current assets and liabilities: |  |  |  |  |  |  |
Accounts receivable, net | (311,951) |  |  | — |  |  | 264,832 |  |  | (47,119) |
Finance receivables – accrued interest and other | — |  |  | 1,213 |  |  | — |  |  | 1,213 |
Inventories, net | 131,529 |  |  | — |  |  | — |  |  | 131,529 |
Accounts payable and accrued liabilities | 42,313 |  |  | 270,073 |  |  | (259,153) |  |  | 53,233 |
Other current assets | 14,248 |  |  | 18,092 |  |  | 3,413 |  |  | 35,753 |
| (81,289) |  |  | 379,716 |  |  | (426,663) |  |  | (128,236) |
Net cash provided by operating activities | 111,074 |  |  | 419,479 |  |  | (426,556) |  |  | 103,997 |
Cash flows from investing activities: |  |  |  |  |  |  |
Capital expenditures | (45,922) |  |  | (434) |  |  | — |  |  | (46,356) |
Origination of finance receivables | — |  |  | (2,080,020) |  |  | 1,172,251 |  |  | (907,769) |
Collections on finance receivables | — |  |  | 1,587,609 |  |  | (745,695) |  |  | 841,914 |
Other investing activities | (1,289) |  |  | — |  |  | 1,000 |  |  | (289) |
Net cash used by investing activities | (47,211) |  |  | (492,845) |  |  | 427,556 |  |  | (112,500) |
| Three months ended March 31, 2024
| Non-Financial Services Entities |  | Financial Services Entities |  | Consolidating Adjustments |  | Consolidated
Cash flows from financing activities: |  |  |  |  |  |  |
Repayments of securitization debt | — |  |  | (234,178) |  |  | — |  |  | (234,178) |
Borrowings of asset-backed commercial paper | — |  |  | 334,561 |  |  | — |  |  | 334,561 |
Repayments of asset-backed commercial paper | — |  |  | (46,154) |  |  | — |  |  | (46,154) |
Net increase in unsecured commercial paper | — |  |  | 58,794 |  |  | — |  |  | 58,794 |
Net decrease in deposits | — |  |  | (6,758) |  |  | — |  |  | (6,758) |
Dividends paid | (24,385) |  |  | — |  |  | — |  |  | (24,385) |
Repurchase of common stock | (107,812) |  |  | — |  |  | — |  |  | (107,812) |
Other financing activities | 7 |  |  | 1,000 |  |  | (1,000) |  |  | 7 |
Net cash (used) provided by financing activities | (132,190) |  |  | 107,265 |  |  | (1,000) |  |  | (25,925) |
Effect of exchange rate changes on cash, cash equivalents and restricted cash | (6,836) |  |  | (184) |  |  | — |  |  | (7,020) |
Net (decrease) increase in cash, cash equivalents and restricted cash | $ | (75,163) |  |  | $ | 33,715 |  |  | $ | — |  |  | $ | (41,448) |
Cash, cash equivalents and restricted cash: |  |  |  |  |  |  |
Cash, cash equivalents and restricted cash, beginning of period | $ | 1,127,400 |  |  | $ | 521,411 |  |  | $ | — |  |  | $ | 1,648,811 |
Net (decrease) increase in cash, cash equivalents and restricted cash | (75,163) |  |  | 33,715 |  |  | — |  |  | (41,448) |
Cash, cash equivalents and restricted cash, end of period | $ | 1,052,237 |  |  | $ | 555,126 |  |  | $ | — |  |  | $ | 1,607,363 |

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