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Additional Balance Sheet and Cash Flow Information (Tables) | 9 Months Ended
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Sep. 30, 2025
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):
| September 30, 2025 |  | December 31, 2024 |  | September 30, 2024
Mutual funds | $ | 32,493 |  |  | $ | 32,070 |  |  | $ | 33,816 |
Schedule of Inventories, Net | Inventories, net consisted of the following (in thousands):
| September 30, 2025 |  | December 31, 2024 |  | September 30, 2024
Raw materials and work in process | $ | 294,480 |  |  | $ | 353,819 |  |  | $ | 299,296 |
Motorcycle finished goods | 255,339 |  |  | 411,442 |  |  | 399,699 |
Parts and accessories and apparel | 98,431 |  |  | 110,591 |  |  | 119,260 |
Inventory at lower of FIFO cost or net realizable value | 648,250 |  |  | 875,852 |  |  | 818,255 |
Excess of FIFO over LIFO cost | (136,064) |  |  | (130,059) |  |  | (136,391) |
| $ | 512,186 |  |  | $ | 745,793 |  |  | $ | 681,864 |
Schedule of Certificates of Deposit Maturity | Future maturities of the Company's certificates of deposit as of September 30, 2025 were as follows (in thousands):
2025 | 28,000 |
2026 | 277,304 |
2027 | 196,704 |
2028 | 18,500 |
2029 | 15,200 |
Thereafter | 19,790 |
Future maturities | 555,498 |
Unamortized fees | (1,030) |
| $ | 554,468 |
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):
| Nine months ended
| September 30, 2025 |  | September 30, 2024
Cash flows from operating activities: |  |  |
Net income | $ | 611,709 |  |  | $ | 563,605 |
Adjustments to reconcile Net income to Net cash provided by operating activities: |  |  |
Depreciation and amortization | 126,339 |  |  | 119,568 |
Amortization of deferred loan origination costs | 43,871 |  |  | 54,461 |
Amortization of financing origination fees | 9,773 |  |  | 10,363 |
Income related to long-term employee benefits | (41,287) |  |  | (40,076) |
Employee benefit plan contributions and payments | (5,091) |  |  | (3,781) |
Stock compensation expense | 25,838 |  |  | 39,820 |
Net change in wholesale finance receivables related to sales | (183,006) |  |  | (211,800) |
Provision for credit losses | (198,427) |  |  | 175,017 |
Origination of finance receivables held for sale | (414,009) |  |  | — |
Collections from finance receivables held for sale | 16,916 |  |  | — |
Gain on sale of securitization beneficial interests | (26,958) |  |  | — |
Deferred income taxes | 92,122 |  |  | (1,815) |
Other, net | 19,360 |  |  | 19,557 |
Changes in current assets and liabilities: |  |  |
Accounts receivable, net | (46,415) |  |  | (36,529) |
Finance receivables – accrued interest and other | 11,279 |  |  | 2,325 |
Inventories, net | 262,287 |  |  | 253,373 |
Accounts payable and accrued liabilities | 75,039 |  |  | (12,903) |
Other current assets | 37,563 |  |  | (530) |
| (194,806) |  |  | 367,050 |
Net cash provided by operating activities | $ | 416,903 |  |  | $ | 930,655 |

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