Harley-Davidson (HOG) 10-Q 3 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 25, 2017	Jul. 28, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	HARLEY DAVIDSON INC
Entity Central Index Key	793,952
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 25, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		170,594,597

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2017	Jun. 26, 2016	Jun. 25, 2017	Jun. 26, 2016
Revenue:
Motorcycles and Related Products	$ 1,577,135	$ 1,670,113	$ 2,905,846	$ 3,246,723
Financial Services	188,034	190,964	361,255	364,322
Total revenue	1,765,169	1,861,077	3,267,101	3,611,045
Costs and expenses:
Motorcycles and Related Products cost of goods sold	1,001,512	1,062,555	1,852,738	2,048,885
Financial Services interest expense	44,408	42,895	87,697	88,814
Financial Services provision for credit losses	26,217	23,461	69,806	60,584
Selling, administrative and engineering expense	291,450	319,844	563,800	611,612
Total costs and expenses	1,363,587	1,448,755	2,574,041	2,809,895
Operating income	401,582	412,322	693,060	801,150
Investment income	577	688	1,456	1,454
Interest expense	7,726	7,094	15,399	14,262
Income before provision for income taxes	394,433	405,916	679,117	788,342
Provision for income taxes	135,566	125,485	233,881	257,422
Net income	$ 258,867	$ 280,431	$ 445,236	$ 530,920
Earnings per common share:
Basic (in dollars per share)	$ 1.48	$ 1.55	$ 2.54	$ 2.92
Diluted (in dollars per share)	1.48	1.55	2.53	2.91
Cash dividends per common share (in dollars per share)	$ 0.365	$ 0.35	$ 0.730	$ 0.700

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2017	Jun. 26, 2016	Jun. 25, 2017	Jun. 26, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 258,867	$ 280,431	$ 445,236	$ 530,920
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	9,637	2,628	25,194	15,321
Derivative financial instruments	(10,412)	3,009	(19,464)	(5,343)
Marketable securities	1,204	(32)	1,194	(77)
Pension and postretirement benefit plans	7,256	7,572	14,512	15,143
Total other comprehensive income, net of tax	7,685	13,177	21,436	25,044
Comprehensive income	$ 266,552	$ 293,608	$ 466,672	$ 555,964

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 25, 2017	Dec. 31, 2016	Jun. 26, 2016
Current assets:
Cash and cash equivalents	$ 988,476	$ 759,984	$ 864,670
Marketable securities	0	5,519	5,070
Accounts receivable, net	330,933	285,106	311,956
Finance receivables, net	2,338,533	2,076,261	2,457,974
Inventories	372,012	499,917	371,196
Restricted cash	63,225	52,574	78,078
Deferred income taxes	0	0	116,214
Other current assets	151,423	174,491	153,866
Total current assets	4,244,602	3,853,852	4,359,024
Finance receivables, net	4,994,002	4,759,197	4,824,071
Property, plant and equipment, net	946,326	981,593	951,309
Goodwill	54,630	53,391	54,542
Deferred income taxes	170,358	167,729	83,047
Other long-term assets	77,853	74,478	76,447
Total assets	10,487,771	9,890,240	10,348,440
Current liabilities:
Accounts payable	327,346	235,318	273,696
Accrued liabilities	533,412	486,652	485,811
Short-term debt	928,445	1,055,708	1,020,487
Current portion of long-term debt, net	1,565,558	1,084,884	732,773
Total current liabilities	3,354,761	2,862,562	2,512,767
Long-term debt, net	4,678,350	4,666,975	5,308,063
Pension liability	51,797	84,442	129,465
Postretirement healthcare liability	166,023	173,267	188,846
Other long-term liabilities	190,673	182,836	188,292
Commitments and contingencies
Shareholders’ equity:
Preferred stock, none issued	0	0	0
Common stock	1,813	1,806	3,453
Additional paid-in-capital	1,404,428	1,381,862	1,349,755
Retained earnings	1,654,457	1,337,673	9,365,105
Accumulated other comprehensive loss	(543,945)	(565,381)	(590,161)
Treasury stock, at cost	(470,586)	(235,802)	(8,107,145)
Total shareholders' equity	2,046,167	1,920,158	2,021,007
Total liabilities and shareholders' equity	10,487,771	9,890,240	10,348,440
Variable interest entities
Current assets:
Finance receivables, net	217,348	225,289	258,870
Restricted Cash and Cash Equivalents	62,973	57,057	79,475
Other current assets	2,170	2,781	3,047
Finance receivables, net	653,683	643,047	884,226
Current liabilities:
Current portion of long-term debt, net	241,754	241,396	288,786
Long-term debt, net	$ 559,379	$ 554,879	$ 786,145

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares	Jun. 25, 2017	Dec. 31, 2016	Jun. 26, 2016
Statement of Financial Position [Abstract]
Preferred stock, shares issued	0	0	0

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 25, 2017	Jun. 26, 2016
Cash flows from operating activities:
Net cash provided by operating activities	$ 627,068	$ 456,290
Cash flows from investing activities:
Capital expenditures	(69,816)	(107,531)
Origination of finance receivables	(1,977,839)	(1,991,384)
Collections on finance receivables	1,647,799	1,630,213
Proceeds from finance receivables sold	0	312,571
Sales and redemptions of marketable securities	6,916	40,000
Other	115	166
Net cash used by investing activities	(392,825)	(115,965)
Cash flows from financing activities:
Proceeds from issuance of medium-term notes	893,668	1,193,396
Repayments of medium-term notes	(400,000)	(450,000)
Repayments of securitization debt	(275,659)	(385,837)
Borrowings of asset-backed commercial paper	341,625	33,428
Repayments from Issuance of Asset-Backed Commercial Paper	77,732	34,989
Net decrease in credit facilities and unsecured commercial paper	(128,787)	(181,259)
Net change in restricted cash	(7,248)	17,992
Dividends paid	(128,452)	(127,800)
Purchase of common stock for treasury	(243,055)	(269,411)
Excess tax benefits from share-based payments	0	331
Issuance of common stock under employee stock option plans	7,432	2,367
Net cash used by financing activities	(18,208)	(201,782)
Effect of exchange rate changes on cash and cash equivalents	12,457	3,918
Net increase (decrease) in cash and cash equivalents	228,492	142,461
Cash and cash equivalents:
Cash and cash equivalents—beginning of period	759,984	722,209
Net increase in cash and cash equivalents	228,492	142,461
Cash and cash equivalents—end of period	$ 988,476	$ 864,670

Basis of Presentation and Use o

Basis of Presentation and Use of Estimates	6 Months Ended
	Jun. 25, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Use of Estimates	Basis of Presentation and Use of Estimates The consolidated financial statements include the accounts of Harley-Davidson, Inc. and its wholly-owned subsidiaries (the Company), including the accounts of the groups of companies doing business as Harley-Davidson Motor Company (HDMC) and Harley-Davidson Financial Services (HDFS). In addition, certain variable interest entities (VIEs) related to secured financing are consolidated as the Company is the primary beneficiary. All intercompany accounts and material intercompany transactions are eliminated. In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments (consisting only of normal recurring adjustments) necessary to present fairly the consolidated balance sheets as of June 25, 2017 and June 26, 2016 , the consolidated statements of income for the three and six month periods then ended, the consolidated statements of comprehensive income for the three and six month periods then ended and the consolidated statements of cash flows for the six month periods then ended. Certain information and footnote disclosures normally included in complete financial statements have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission (SEC) and U.S. generally accepted accounting principles (U.S. GAAP) for interim financial reporting. These consolidated financial statements should be read in conjunction with the audited financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016 . The Company operates in two reportable segments: Motorcycles & Related Products (Motorcycles) and Financial Services. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and the accompanying notes. Actual results could differ from those estimates.

New Accounting Standards

New Accounting Standards	6 Months Ended
	Jun. 25, 2017
Accounting Changes and Error Corrections [Abstract]
New Accounting Standards	New Accounting Standards Accounting Standards Recently Adopted In March 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-09 Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting (ASU 2016-09). ASU 2016-09 amends the guidance on several aspects of accounting for share-based payment transactions, including income tax consequences, classification of awards as either equity or liabilities, accounting for forfeitures, and classification on the statement of cash flows. The Company adopted ASU 2016-09 on January 1, 2017. The Company elected to apply the amendments related to the classification of excess tax benefits on the statement of cash flows on a prospective basis, and prior periods were not adjusted. The adoption of ASU 2016-09 did not have a material impact on the Company's consolidated financial statements. In July 2015, the FASB issued ASU No. 2015-11 Inventory (Topic 330): Simplifying the Measurement of Inventory (ASU 2015-11). ASU 2015-11 simplifies the subsequent measurement of inventory by using only the lower of cost or net realizable value. ASU 2015-11 does not apply to inventory measured using the last-in, first-out method. The Company adopted ASU 2015-11 on January 1, 2017. The adoption of ASU 2015-11 did not have a material impact on the Company’s consolidated financial statements. Accounting Standards Not Yet Adopted In May 2014, the FASB issued ASU No. 2014-09 Revenue from Contracts with Customers (ASU 2014-09). ASU 2014-09 is a comprehensive new revenue recognition model that requires a company to recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. In August 2015, the FASB issued ASU No. 2015-14 Revenue from Contracts with Customers: Deferral of Effective Date (ASU 2015-14) to defer the effective date of the new revenue recognition standard by one year to fiscal years beginning after December 15, 2017 and interim periods therein. The guidance may be adopted using either a full retrospective or modified retrospective approach. The Company expects to adopt the new revenue recognition guidance using the modified retrospective method. The Company's efforts to evaluate the impact of the standard and to prepare for its adoption on January 1, 2018 are well underway. Based on the work completed to date (which includes the review of significant revenue sources), the Company expects the recognition of revenue for sales of motorcycles, parts and accessories and general merchandise products under the new revenue recognition guidance will occur at a point in time, which is consistent with current practice. Interest income, which makes up the vast majority of revenue in the Financial Services segment, is not within the scope of the new standard. The Company is also assessing its process for accumulating the required information for enhanced disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from its contracts with customers. In January 2016, the FASB issued ASU No. 2016-01 Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities (ASU 2016-01). ASU 2016-01 enhances the existing financial instruments reporting model by modifying fair value measurement tools, simplifying impairment assessments for certain equity instruments and modifying overall presentation and disclosure requirements. The Company is required to adopt ASU 2016-01 for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2017 on a prospective basis. The Company is currently evaluating the impact of adoption of ASU 2016-01. In February 2016, the FASB issued ASU No. 2016-02 Leases (Topic 842) (ASU 2016-02). ASU 2016-02 amends the existing lease accounting model by requiring a lessee to recognize the rights and obligations resulting from certain leases as assets and liabilities on the balance sheet. ASU 2016-02 also requires a company to disclose key information about their leasing arrangements. The Company is required to adopt ASU 2016-02 for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018 using a modified retrospective approach. Early adoption is permitted. The Company is currently evaluating the impact of adoption of ASU 2016-02. In July 2016, the FASB issued ASU No. 2016-13 Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (ASU 2016-13). ASU 2016-13 changes how to recognize expected credit losses on financial assets. The standard requires a more timely recognition of credit losses on loans and other financial assets and also provides additional transparency about credit risk. The current credit loss standard generally requires that a loss actually be incurred before it is recognized, while the new standard will require recognition of full lifetime expected losses upon initial recognition of the financial instrument. The Company is required to adopt ASU 2016-13 for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2019 on a modified retrospective basis. Early adoption is permitted for fiscal years beginning after December 15, 2018. An entity should apply the standard by recording a cumulative effect adjustment to retained earnings upon adoption. Adoption of this standard will impact how the Company recognizes credit losses on its financial instruments. The Company is currently evaluating the impact of adoption of ASU 2016-13 but anticipates the adoption of ASU 2016-13 will result in an increase in the annual provision for credit losses and the related allowance for credit losses. In August 2016, the FASB issued ASU No. 2016-15 Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (ASU 2016-15). ASU 2016-15 addresses eight specific cash flow issues with the objective of reducing diversity in practice regarding how certain cash receipts and cash payments are presented in the statement of cash flows. The standard provides guidance on the classification of the following items: (1) debt prepayment or debt extinguishment costs, (2) settlement of zero-coupon debt instruments, (3) contingent consideration payments made after a business combination, (4) proceeds from the settlement of insurance claims, (5) proceeds from the settlement of corporate-owned life insurance policies, (6) distributions received from equity method investments, (7) beneficial interests in securitization transactions, and (8) separately identifiable cash flows. The Company is required to adopt ASU 2016-15 for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2017 on a retrospective basis. Early adoption is permitted, including adoption in an interim period. The Company is currently evaluating the impact of adoption of ASU 2016-15. In October 2016, the FASB issued ASU No. 2016-16 Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory (ASU 2016-16). ASU 2016-16 states that an entity should recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. Two common assets included in the scope of the ASU are intellectual property and property, plant and equipment. The Company is required to adopt ASU 2016-16 for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2017 using a modified retrospective approach with a cumulative-effect adjustment to retained earnings. The Company does not expect the adoption of ASU 2016-16 to have a material impact on its financial statements. In November 2016, the FASB issued ASU No. 2016-18 Statement of Cash Flows (Topic 230): Restricted Cash (ASU 2016-18). ASU 2016-18 requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents and amounts generally described as restricted cash or restricted cash equivalents. As such, restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The Company is required to adopt ASU 2016-18 for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2017 on a retrospective basis. Early adoption is permitted, including adoption in an interim period. Subsequent to the adoption of ASU 2016-18, the change in restricted cash would be excluded from the change in cash flows from financing activities and included in the change in total cash, restricted cash and cash equivalents as reported in the statement of cash flows. In January 2017, the FASB issued ASU No. 2017-04 Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment (ASU 2017-04). ASU 2017-04 simplifies the subsequent measurement of goodwill by eliminating the requirement to calculate the implied fair value of goodwill. Rather, the goodwill impairment is calculated by comparing the fair value of a reporting unit to its carrying value, and an impairment loss is recognized for the amount by which the carrying amount exceeds the fair value, limited to the total goodwill allocated to the reporting unit. All reporting units apply the same impairment test under the new standard. The Company is required to adopt ASU 2017-04 for its annual and any interim goodwill impairment tests in fiscal years beginning after December 15, 2019 on a prospective basis. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. In March 2017, the FASB issued ASU No. 2017-07 Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost (ASU 2017-07). ASU 2017-07 amends ASC 715, Compensation - Retirement Benefits by requiring employers to present the service cost component of net periodic benefit cost in the same income statement line item as other employee compensation costs arising from services rendered during the period. Other components of the net periodic benefit cost will be presented separately from the line item that includes the service cost and outside of any subtotal of operating income. The guidance also limits the components that are eligible for capitalization in assets. The Company is required to adopt ASU 2017-07 for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2017. Early adoption is permitted as of the beginning of an annual period for which interim or annual financial statements have not been issued or made available for issuance. The amendments related to the presentation of the components of net periodic benefit cost should be applied retrospectively. The amendments related to the capitalization of certain components in assets should be applied prospectively. The Company's net periodic benefit cost components are disclosed in Note 13.

Additional Balance Sheet and Ca

Additional Balance Sheet and Cash Flow Information	6 Months Ended
	Jun. 25, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Additional Balance Sheet and Cash Flow Information	Additional Balance Sheet and Cash Flow Information Marketable Securities The Company’s marketable securities consisted of the following (in thousands): June 25, December 31, June 26, Available-for-sale securities: corporate bonds $ — $ 5,519 $ 5,070 Trading securities: mutual funds 44,156 38,119 37,651 Total marketable securities $ 44,156 $ 43,638 $ 42,721 The Company’s available-for-sale securities are carried at fair value with any unrealized gains or losses reported in other comprehensive income. During the first half of 2017 and 2016 , unrealized losses were not material. There were no available-for-sale securities outstanding at June 25, 2017. The Company's trading securities relate to investments held by the Company to fund certain deferred compensation obligations. The trading securities are carried at fair value with gains and losses recorded in net income, and investments are included in other long-term assets on the consolidated balance sheets. Inventories Inventories are valued at the lower of cost or net realizable value. Substantially all inventories located in the United States are valued using the last-in, first-out (LIFO) method. Other inventories are valued at the lower of cost or net realizable value using the first-in, first-out (FIFO) method. Inventories consisted of the following (in thousands): June 25, December 31, June 26, Components at the lower of FIFO cost or net realizable value Raw materials and work in process $ 117,199 $ 140,639 $ 134,702 Motorcycle finished goods 186,244 285,281 152,035 Parts and accessories and general merchandise 116,836 122,264 133,727 Inventory at lower of FIFO cost or net realizable value 420,279 548,184 420,464 Excess of FIFO over LIFO cost (48,267 ) (48,267 ) (49,268 ) Total inventories, net $ 372,012 $ 499,917 $ 371,196 Operating Cash Flow The reconciliation of net income to net cash provided by operating activities is as follows (in thousands): Six months ended June 25, June 26, Cash flows from operating activities: Net income $ 445,236 $ 530,920 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization of intangibles 107,578 100,956 Amortization of deferred loan origination costs 40,771 43,555 Amortization of financing origination fees 4,079 5,146 Provision for long-term employee benefits 14,950 19,005 Employee benefit plan contributions and payments (37,307 ) (35,189 ) Stock compensation expense 17,497 15,797 Net change in wholesale finance receivables related to sales (271,927 ) (442,254 ) Provision for credit losses 69,806 60,584 Gain on off-balance sheet asset-backed securitization — (9,269 ) Deferred income taxes 178 (3,548 ) Other, net (4,163 ) (20,508 ) Changes in current assets and liabilities: Accounts receivable, net (28,239 ) (55,109 ) Finance receivables - accrued interest and other 2,067 (125 ) Inventories 138,942 225,586 Accounts payable and accrued liabilities 133,120 53,790 Derivative instruments 3,114 (1,474 ) Other (8,634 ) (31,573 ) Total adjustments 181,832 (74,630 ) Net cash provided by operating activities $ 627,068 $ 456,290

Finance Receivables

Finance Receivables	6 Months Ended
	Jun. 25, 2017
Receivables [Abstract]
Finance Receivables	Finance Receivables The Company provides retail financial services to customers of the Company’s independent dealers in the United States and Canada. The origination of retail loans is a separate and distinct transaction between the Company and the retail customer, unrelated to the Company’s sale of product to its dealers. Retail finance receivables consist of secured promissory notes and secured installment sales contracts. The Company holds either titles or liens on titles to vehicles financed by promissory notes and installment sales contracts. The Company offers wholesale financing to the Company’s independent dealers. Wholesale loans to dealers are generally secured by financed inventory or property and are originated in the U.S. and Canada. Finance receivables, net, consisted of the following (in thousands): June 25, December 31, June 26, Retail $ 6,267,211 $ 5,982,211 $ 6,020,750 Wholesale 1,258,852 1,026,590 1,422,648 Total finance receivables 7,526,063 7,008,801 7,443,398 Allowance for credit losses (193,528 ) (173,343 ) (161,353 ) Finance receivables, net $ 7,332,535 $ 6,835,458 $ 7,282,045 A provision for credit losses on finance receivables is charged or credited to earnings in amounts that the Company believes are sufficient to maintain the allowance for credit losses at a level that is adequate to cover losses of principal inherent in the existing portfolio. The allowance for credit losses represents management’s estimate of probable losses inherent in the finance receivable portfolio as of the balance sheet date. However, due to the use of projections and assumptions in estimating the losses, the amount of losses actually incurred by the Company could differ from the amounts estimated. Changes in the allowance for credit losses on finance receivables by portfolio were as follows (in thousands): Three months ended June 25, 2017 Retail Wholesale Total Balance, beginning of period $ 176,068 $ 7,962 $ 184,030 Provision for credit losses 26,550 (333 ) 26,217 Charge-offs (30,374 ) — (30,374 ) Recoveries 13,655 — 13,655 Balance, end of period $ 185,899 $ 7,629 $ 193,528 Three months ended June 26, 2016 Retail Wholesale Total Balance, beginning of period $ 146,727 $ 9,457 $ 156,184 Provision for credit losses 24,563 (1,102 ) 23,461 Charge-offs (26,460 ) — (26,460 ) Recoveries 11,459 — 11,459 Other (a) (3,291 ) — (3,291 ) Balance, end of period $ 152,998 $ 8,355 $ 161,353 Six months ended June 25, 2017 Retail Wholesale Total Balance, beginning of period $ 166,810 $ 6,533 $ 173,343 Provision for credit losses 68,710 1,096 69,806 Charge-offs (76,298 ) — (76,298 ) Recoveries 26,677 — 26,677 Balance, end of period $ 185,899 $ 7,629 $ 193,528 Six months ended June 26, 2016 Retail Wholesale Total Balance, beginning of period $ 139,320 $ 7,858 $ 147,178 Provision for credit losses 60,087 497 60,584 Charge-offs (66,104 ) — (66,104 ) Recoveries 22,986 — 22,986 Other (a) (3,291 ) — (3,291 ) Balance, end of period $ 152,998 $ 8,355 $ 161,353 (a) Related to the sale of finance receivables with a principal balance of $301.8 million through an off-balance sheet asset-backed securitization transaction (see Note 10 for additional information). Finance receivables are considered impaired when management determines it is probable that the Company will be unable to collect all amounts due according to the terms of the loan agreement. Portions of the allowance for credit losses are established to cover estimated losses on finance receivables specifically identified for impairment. The unspecified portion of the allowance for credit losses covers estimated losses on finance receivables which are collectively reviewed for impairment. The retail portfolio primarily consists of a large number of small balance, homogeneous finance receivables. The Company performs a periodic and systematic collective evaluation of the adequacy of the retail allowance for credit losses. The Company utilizes loss forecast models which consider a variety of factors including, but not limited to, historical loss trends, origination or vintage analysis, known and inherent risks in the portfolio, the value of the underlying collateral, recovery rates, and current economic conditions including items such as unemployment rates. Retail finance receivables are not evaluated individually for impairment prior to charge-off and, therefore, are not reported as impaired loans. The wholesale portfolio is primarily composed of large balance, non-homogeneous loans. The Company’s evaluation for the wholesale allowance for credit losses is first based on a loan-by-loan review. A specific allowance for credit losses is established for wholesale finance receivables determined to be individually impaired when management concludes that the borrower will not be able to make full payment of the contractual amounts due based on the original terms of the loan agreement. The impairment is determined based on the cash that the Company expects to receive discounted at the loan’s original interest rate or the fair value of the collateral, if the loan is collateral-dependent. Finance receivables in the wholesale portfolio that are not considered impaired on an individual basis are segregated, based on similar risk characteristics, according to the Company’s internal risk rating system and collectively evaluated for impairment. The related allowance for credit losses is based on factors such as the specific borrower’s financial performance and ability to repay, the Company’s past loan loss experience, current economic conditions, and the value of the underlying collateral. Generally, it is the Company’s policy not to change the terms and conditions of finance receivables. However, to minimize the economic loss, the Company may modify certain finance receivables in troubled debt restructurings. Total restructured finance receivables are not significant. The allowance for credit losses and finance receivables by portfolio, segregated by those amounts that are individually evaluated for impairment and those that are collectively evaluated for impairment, was as follows (in thousands): June 25, 2017 Retail Wholesale Total Allowance for credit losses, ending balance: Individually evaluated for impairment $ — $ — $ — Collectively evaluated for impairment 185,899 7,629 193,528 Total allowance for credit losses $ 185,899 $ 7,629 $ 193,528 Finance receivables, ending balance: Individually evaluated for impairment $ — $ — $ — Collectively evaluated for impairment 6,267,211 1,258,852 7,526,063 Total finance receivables $ 6,267,211 $ 1,258,852 $ 7,526,063 December 31, 2016 Retail Wholesale Total Allowance for credit losses, ending balance: Individually evaluated for impairment $ — $ — $ — Collectively evaluated for impairment 166,810 6,533 173,343 Total allowance for credit losses $ 166,810 $ 6,533 $ 173,343 Finance receivables, ending balance: Individually evaluated for impairment $ — $ — $ — Collectively evaluated for impairment 5,982,211 1,026,590 7,008,801 Total finance receivables $ 5,982,211 $ 1,026,590 $ 7,008,801 June 26, 2016 Retail Wholesale Total Allowance for credit losses, ending balance: Individually evaluated for impairment $ — $ — $ — Collectively evaluated for impairment 152,998 8,355 161,353 Total allowance for credit losses $ 152,998 $ 8,355 $ 161,353 Finance receivables, ending balance: Individually evaluated for impairment $ — $ — $ — Collectively evaluated for impairment 6,020,750 1,422,648 7,443,398 Total finance receivables $ 6,020,750 $ 1,422,648 $ 7,443,398 There were no wholesale finance receivables at June 25, 2017 , December 31, 2016 , or June 26, 2016 that were individually deemed to be impaired under ASC Topic 310, “Receivables.” Retail finance receivables are contractually delinquent if the minimum payment is not received by the specified due date. Retail finance receivables are generally charged-off when the receivable is 120 days or more delinquent, the related asset is repossessed or the receivable is otherwise deemed uncollectible. All retail finance receivables accrue interest until either collected or charged-off. Accordingly, as of June 25, 2017 , December 31, 2016 and June 26, 2016 , all retail finance receivables were accounted for as interest-earning receivables, of which $25.1 million , $40.4 million and $21.9 million , respectively, were 90 days or more past due. Wholesale finance receivables are delinquent if the minimum payment is not received by the contractual due date. Wholesale finance receivables are written down once management determines that the specific borrower does not have the ability to repay the loan in full. Interest continues to accrue on past due finance receivables until the date the finance receivable becomes uncollectible and the finance receivable is placed on non-accrual status. The Company will resume accruing interest on these accounts when payments are current according to the terms of the loans and future payments are reasonably assured. While on non-accrual status, all cash received is applied to principal or interest as appropriate. There were no wholesale receivables on non-accrual status at June 25, 2017 , December 31, 2016 or June 26, 2016 . At June 25, 2017 , December 31, 2016 and June 26, 2016 , $1.1 million , $0.3 million , and $0.2 million of wholesale finance receivables were 90 days or more past due and accruing interest, respectively. An analysis of the aging of past due finance receivables was as follows (in thousands): June 25, 2017 Current 31-60 Days Past Due 61-90 Days Past Due Greater than 90 Days Past Due Total Past Due Total Finance Receivables Retail $ 6,086,592 $ 118,616 $ 36,914 $ 25,089 $ 180,619 $ 6,267,211 Wholesale 1,257,301 281 142 1,128 1,551 1,258,852 Total $ 7,343,893 $ 118,897 $ 37,056 $ 26,217 $ 182,170 $ 7,526,063 December 31, 2016 Current 31-60 Days Past Due 61-90 Days Past Due Greater than 90 Days Past Due Total Past Due Total Finance Receivables Retail $ 5,760,818 $ 131,302 $ 49,642 $ 40,449 $ 221,393 $ 5,982,211 Wholesale 1,024,995 1,000 319 276 1,595 1,026,590 Total $ 6,785,813 $ 132,302 $ 49,961 $ 40,725 $ 222,988 $ 7,008,801 June 26, 2016 Current 31-60 Days Past Due 61-90 Days Past Due Greater than 90 Days Past Due Total Past Due Total Finance Receivables Retail $ 5,852,659 $ 108,192 $ 37,961 $ 21,938 $ 168,091 $ 6,020,750 Wholesale 1,421,846 457 153 192 802 1,422,648 Total $ 7,274,505 $ 108,649 $ 38,114 $ 22,130 $ 168,893 $ 7,443,398 A significant part of managing the Company's finance receivable portfolios includes the assessment of credit risk associated with each borrower. As the credit risk varies between the retail and wholesale portfolios, the Company utilizes different credit risk indicators for each portfolio. The Company manages retail credit risk through its credit approval policy and ongoing collection efforts. The Company uses FICO scores, a standard credit rating measurement, to differentiate the expected default rates of retail credit applicants, enabling the Company to better evaluate credit applicants for approval and to tailor pricing according to this assessment. Retail loans with a FICO score of 640 or above at origination are considered prime, and loans with a FICO score below 640 are considered sub-prime. These credit quality indicators are determined at the time of loan origination and are not updated subsequent to the loan origination date. The recorded investment in retail finance receivables, by credit quality indicator, was as follows (in thousands): June 25, 2017 December 31, 2016 June 26, 2016 Prime $ 5,034,187 $ 4,768,420 $ 4,756,479 Sub-prime 1,233,024 1,213,791 1,264,271 Total $ 6,267,211 $ 5,982,211 $ 6,020,750 The Company's credit risk on the wholesale portfolio is different from that of the retail portfolio. Whereas the retail portfolio represents a relatively homogeneous pool of retail finance receivables that exhibit more consistent loss patterns, the wholesale portfolio exposures are less consistent. The Company utilizes an internal credit risk rating system to manage credit risk exposure consistently across wholesale borrowers and individually evaluates credit risk factors for each borrower. The Company uses the following internal credit quality indicators, based on an internal risk rating system, listed from highest level of risk to lowest level of risk for the wholesale portfolio: Doubtful, Substandard, Special Mention, Medium Risk and Low Risk. Based upon management’s review, the dealers classified in the Doubtful category are the dealers with the greatest likelihood of being charged-off, while the dealers classified as Low Risk are least likely to be charged-off. The internal rating system considers factors such as the specific borrower's ability to repay and the estimated value of any collateral. Dealer risk rating classifications are reviewed and updated on a quarterly basis. The recorded investment in wholesale finance receivables, by internal credit quality indicator, was as follows (in thousands): June 25, 2017 December 31, 2016 June 26, 2016 Doubtful $ 5,203 $ 1,333 $ — Substandard 10,458 1,773 19,637 Special Mention 4,953 30,152 4,334 Medium Risk 8,115 14,620 6,350 Low Risk 1,230,123 978,712 1,392,327 Total $ 1,258,852 $ 1,026,590 $ 1,422,648

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 25, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Certain assets and liabilities are recorded at fair value in the financial statements; some of these are measured on a recurring basis while others are measured on a non-recurring basis. Assets and liabilities measured on a recurring basis are those that are adjusted to fair value each time a financial statement is prepared. Assets and liabilities measured on a non-recurring basis are those that are adjusted to fair value when required by particular events or circumstances. In determining the fair value of assets and liabilities, the Company uses various valuation techniques. The availability of inputs observable in the market varies from instrument to instrument and depends on a variety of factors including the type of instrument, whether the instrument is actively traded, and other characteristics particular to the transaction. For many financial instruments, pricing inputs are readily observable in the market, the valuation methodology used is widely accepted by market participants, and the valuation does not require significant management discretion. For other financial instruments, pricing inputs are less observable in the market and may require management judgment. The Company assesses the inputs used to measure fair value using a three-tier hierarchy. The hierarchy indicates the extent to which inputs used in measuring fair value are observable in the market. Level 1 inputs include quoted prices for identical instruments and are the most observable. Level 2 inputs include quoted prices for similar assets and observable inputs such as interest rates, foreign currency exchange rates and commodity prices. The Company uses the market approach to derive the fair value for its level 2 fair value measurements. Forward contracts for foreign currency and commodities are valued using current quoted forward rates and prices; investments in marketable securities and cash equivalents are valued using publicly quoted prices. Level 3 inputs are not observable in the market and include management’s judgments about the assumptions market participants would use in pricing the asset or liability. The use of observable and unobservable inputs is reflected in the hierarchy assessment disclosed in the following tables. Recurring Fair Value Measurements The following tables present information about the Company’s assets and liabilities measured at fair value on a recurring basis (in thousands): June 25, 2017 Balance Quoted Prices in Significant Significant Assets: Cash equivalents $ 625,485 $ 375,550 $ 249,935 $ — Marketable securities 44,156 44,156 — — Derivatives 458 — 458 — Total $ 670,099 $ 419,706 $ 250,393 $ — Liabilities: Derivatives $ 4,865 $ — $ 4,865 $ — December 31, 2016 Balance Quoted Prices in Significant Significant Assets: Cash equivalents $ 531,519 $ 426,266 $ 105,253 $ — Marketable securities 43,638 38,119 5,519 — Derivatives 29,034 — 29,034 — Total $ 604,191 $ 464,385 $ 139,806 $ — Liabilities: Derivatives $ 142 $ — $ 142 $ — June 26, 2016 Balance Quoted Prices in Significant Significant Assets: Cash equivalents $ 549,426 $ 392,800 $ 156,626 $ — Marketable securities 42,721 37,651 5,070 — Derivatives 9,528 — 9,528 — Total $ 601,675 $ 430,451 $ 171,224 $ — Liabilities: Derivatives $ 1,605 $ — $ 1,605 $ — Nonrecurring Fair Value Measurements Repossessed inventory is recorded at the lower of cost or net realizable value through a nonrecurring fair value measurement. Repossessed inventory was $17.9 million , $19.3 million and $15.3 million at June 25, 2017 , December 31, 2016 and June 26, 2016 , respectively, for which the fair value adjustment was $2.7 million , $9.3 million and $3.6 million , respectively. Fair value is estimated using Level 2 inputs based on the recent market values of repossessed inventory.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 25, 2017
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company’s financial instruments consist primarily of cash and cash equivalents, marketable securities, finance receivables, net, debt, foreign currency exchange and commodity contracts (derivative instruments are discussed further in Note 7). The following table summarizes the fair value and carrying value of the Company’s financial instruments (in thousands): June 25, 2017 December 31, 2016 June 26, 2016 Fair Value Carrying Value Fair Value Carrying Value Fair Value Carrying Value Assets: Cash and cash equivalents $ 988,476 $ 988,476 $ 759,984 $ 759,984 $ 864,670 $ 864,670 Marketable securities $ 44,156 $ 44,156 $ 43,638 $ 43,638 $ 42,721 $ 42,721 Derivatives $ 458 $ 458 $ 29,034 $ 29,034 $ 9,528 $ 9,528 Finance receivables, net $ 7,401,974 $ 7,332,535 $ 6,921,037 $ 6,835,458 $ 7,369,410 $ 7,282,045 Restricted cash $ 74,395 $ 74,395 $ 67,147 $ 67,147 $ 92,650 $ 92,650 Liabilities: Derivatives $ 4,865 $ 4,865 $ 142 $ 142 $ 1,605 $ 1,605 Unsecured commercial paper $ 928,445 $ 928,445 $ 1,055,708 $ 1,055,708 $ 1,020,487 $ 1,020,487 Asset-backed U.S. commercial paper conduit facilities $ 279,833 $ 279,833 $ — $ — $ — $ — Asset-backed Canadian commercial paper conduit facility $ 138,739 $ 138,739 $ 149,338 $ 149,338 $ 161,626 $ 161,626 Medium-term notes $ 4,623,146 $ 4,562,403 $ 4,139,462 $ 4,064,940 $ 4,239,390 $ 4,063,297 Senior unsecured notes $ 773,084 $ 741,633 $ 744,552 $ 741,306 $ 808,227 $ 740,982 Asset-backed securitization debt $ 521,956 $ 521,300 $ 797,688 $ 796,275 $ 1,080,416 $ 1,074,931 Cash and Cash Equivalents and Restricted Cash – With the exception of certain cash equivalents, the carrying value of these items in the financial statements is based on historical cost. The historical cost basis for these amounts is estimated to approximate their respective fair values due to the short maturity of these instruments. Fair value is based on Level 1 or Level 2 inputs. Marketable Securities – The carrying value of marketable securities in the financial statements is based on fair value. The fair value of marketable securities is determined primarily based on quoted prices for identical instruments or on quoted market prices of similar financial assets. Fair value is based on Level 1 or Level 2 inputs. Finance Receivables, Net – The carrying value of retail and wholesale finance receivables in the financial statements is amortized cost less an allowance for credit losses. The fair value of retail finance receivables is generally calculated by discounting future cash flows using an estimated discount rate that reflects current credit, interest rate and prepayment risks associated with similar types of instruments. Fair value is determined based on Level 3 inputs. The amortized cost basis of wholesale finance receivables approximates fair value because they either are short-term or have interest rates that adjust with changes in market interest rates. Derivatives – Forward contracts for foreign currency exchange and commodities are derivative financial instruments and are carried at fair value on the balance sheet. The fair value of these contracts is determined using quoted forward rates and prices. Fair value is calculated using Level 2 inputs. Debt – The carrying value of debt in the financial statements is generally amortized cost, net of discounts and debt issuance costs. The carrying value of unsecured commercial paper approximates fair value due to its short maturity. Fair value is calculated using Level 2 inputs. The carrying value of debt provided under the U.S. conduit facilities and Canadian conduit facility approximates fair value since the interest rates charged under the facility are tied directly to market rates and fluctuate as market rates change. Fair value is calculated using Level 2 inputs. The fair values of the medium-term notes and senior unsecured notes are estimated based upon rates available at the end of the period for debt with similar terms and remaining maturities. Fair value is calculated using Level 2 inputs. The fair value of the debt related to on-balance sheet asset-backed securitization transactions is estimated based on pricing available at the end of the period for transactions with similar terms and maturities. Fair value is calculated using Level 2 inputs.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	6 Months Ended
	Jun. 25, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities The Company is exposed to certain risks such as foreign currency exchange rate risk, interest rate risk and commodity price risk. To reduce its exposure to such risks, the Company selectively uses derivative financial instruments. All derivative transactions are authorized and executed pursuant to regularly reviewed policies and procedures, which prohibit the use of financial instruments for speculative trading purposes. All derivative instruments are recognized on the balance sheet at fair value (see Note 6). In accordance with ASC Topic 815, “Derivatives and Hedging,” the accounting for changes in the fair value of a derivative instrument depends on whether it has been designated and qualifies as part of a hedging relationship and, further, on the type of hedging relationship. Changes in the fair value of derivatives that are designated as fair value hedges, along with the gain or loss on the hedged item, are recorded in current period earnings. For derivative instruments that are designated as cash flow hedges, the effective portion of gains and losses that result from changes in the fair value of derivative instruments is initially recorded in other comprehensive income (OCI) and subsequently reclassified into earnings when the hedged item affects income. The Company assesses, both at the inception of each hedge and on an on-going basis, whether the derivatives that are used in its hedging transactions are highly effective in offsetting changes in cash flows of the hedged items. Any ineffective portion is immediately recognized in earnings. No component of a hedging derivative instrument’s gain or loss is excluded from the assessment of hedge effectiveness. Derivative instruments that do not qualify for hedge accounting are recorded at fair value, and any changes in fair value are recorded in current period earnings. The Company sells its products internationally, and in most markets those sales are made in the foreign country’s local currency. As a result, the Company’s earnings can be affected by fluctuations in the value of the U.S. dollar relative to foreign currency. The Company utilizes foreign currency exchange contracts to mitigate the effects of the Euro, the Australian dollar, the Japanese yen, the Brazilian real, the Canadian dollar, and the Mexican peso. The foreign currency exchange contracts are entered into with banks and allow the Company to exchange a specified amount of foreign currency for U.S. dollars at a future date, based on a fixed exchange rate. The Company utilizes commodity contracts to hedge portions of the cost of certain commodities consumed in the Company’s motorcycle production and distribution operations. The Company’s foreign currency exchange contracts and commodity contracts generally have maturities of less than one year. During the second quarter of 2017, the Company entered into a treasury rate lock to fix the interest rate on a portion of the principal related to its anticipated issuance of medium-term notes during the second quarter of 2017. The treasury rate lock contract was settled in June 2017. The loss at settlement was recorded in accumulated other comprehensive loss and will be reclassified into earnings over the life of the debt. During the second quarter of 2015, the Company entered into treasury rate locks to fix the interest rate on a portion of the principal related to its anticipated issuance of senior unsecured debt during the third quarter of 2015. The treasury rate lock contracts were settled in July 2015. The loss at settlement was recorded in accumulated other comprehensive loss and will be reclassified into earnings over the life of the debt. The following tables summarize the fair value of the Company’s derivative financial instruments (in thousands): June 25, 2017 December 31, 2016 June 26, 2016 Derivatives Designated As Hedging Instruments Under ASC Topic 815 Notional Value Asset Fair Value (a) Liability Fair Value (b) Notional Value Asset Fair Value (a) Liability Fair Value (b) Notional Value Asset Fair Value (a) Liability Fair Value (b) Foreign currency contracts (c) $ 544,601 $ 409 $ 4,622 $ 554,551 $ 28,528 $ 142 $ 542,788 $ 9,423 $ 1,358 Commodity contracts (c) 1,102 — 75 992 177 — 861 88 — Total $ 545,703 $ 409 $ 4,697 $ 555,543 $ 28,705 $ 142 $ 543,649 $ 9,511 $ 1,358 June 25, 2017 December 31, 2016 June 26, 2016 Derivatives Not Designated As Hedging Instruments Under ASC Topic 815 Notional Value Asset Fair Value (a) Liability Fair Value (b) Notional Value Asset Fair Value (a) Liability Fair Value (b) Notional Value Asset Fair Value (a) Liability Fair Value (b) Commodity contracts $ 4,336 $ 49 $ 168 $ 5,025 $ 329 $ — $ 4,298 $ 17 $ 247 Total $ 4,336 $ 49 $ 168 $ 5,025 $ 329 $ — $ 4,298 $ 17 $ 247 (a) Included in other current assets (b) Included in accrued liabilities (c) Derivative designated as a cash flow hedge The following tables summarize the amount of gains and losses related to derivative financial instruments designated as cash flow hedges (in thousands): Amount of Gain/(Loss) Recognized in OCI, before tax Three months ended Six months ended Cash Flow Hedges June 25, June 26, June 25, June 26, Foreign currency contracts $ (11,851 ) $ 8,017 $ (23,648 ) $ (4,507 ) Commodity contracts (80 ) 119 (186 ) (73 ) Treasury rate locks (719 ) — (719 ) — Total $ (12,650 ) $ 8,136 $ (24,553 ) $ (4,580 ) Amount of Gain/(Loss) Reclassified from AOCL into Income Three months ended Six months ended Expected to be Reclassified Cash Flow Hedges June 25, June 26, June 25, June 26, Over the Next Twelve Months Foreign currency contracts (a) $ 3,957 $ 3,551 $ 6,473 $ 4,407 $ (3,538 ) Commodity contracts (a) 17 (104 ) 65 (319 ) (75 ) Treasury rate locks (b) (99 ) (90 ) (189 ) (181 ) (506 ) Total $ 3,875 $ 3,357 $ 6,349 $ 3,907 $ (4,119 ) (a) Gain/(loss) reclassified from accumulated other comprehensive loss (AOCL) to income is included in cost of goods sold (b) Gain/(loss) reclassified from AOCL to income is included in interest expense For the three and six months ended June 25, 2017 and June 26, 2016 , the cash flow hedges were highly effective and, as a result, the amount of hedge ineffectiveness was not material. No amounts were excluded from effectiveness testing. The following table summarizes the amount of gains and losses related to derivative financial instruments not designated as hedging instruments (in thousands): Amount of Gain/(Loss) Recognized in Income on Derivative Three months ended Six months ended Derivatives Not Designated As Hedges June 25, June 26, June 25, June 26, Commodity contracts (a) $ (193 ) $ 67 $ (173 ) $ (224 ) Total $ (193 ) $ 67 $ (173 ) $ (224 ) (a) Gain/(loss) recognized in income is included in cost of goods sold The Company is exposed to credit loss risk in the event of non-performance by counterparties to these derivative financial instruments. Although no assurances can be given, the Company does not expect any of the counterparties to these derivative financial instruments to fail to meet its obligations. To manage credit loss risk, the Company evaluates counterparties based on credit ratings and, on a quarterly basis, evaluates each hedge’s net position relative to the counterparty’s ability to cover its position.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
	Jun. 25, 2017
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss The following tables set forth the changes in accumulated other comprehensive loss (AOCL) (in thousands): Three months ended June 25, 2017 Foreign currency translation adjustments Marketable securities Derivative financial instruments Pension and postretirement benefit plans Total Balance, beginning of period $ (52,575 ) $ (1,204 ) $ 3,472 $ (501,323 ) $ (551,630 ) Other comprehensive income (loss) before reclassifications 9,447 1,912 (12,650 ) — (1,291 ) Income tax expense (benefit) 190 (708 ) 4,678 — 4,160 Net other comprehensive income (loss) before reclassifications 9,637 1,204 (7,972 ) — 2,869 Reclassifications: Realized (gains) losses - foreign currency contracts (a) — — (3,957 ) — (3,957 ) Realized (gains) losses - commodities contracts (a) — — (17 ) — (17 ) Realized (gains) losses - treasury rate lock (b) — — 99 — 99 Prior service credits (c) — — — (289 ) (289 ) Actuarial losses (c) — — — 11,813 11,813 Total reclassifications before tax — — (3,875 ) 11,524 7,649 Income tax expense (benefit) — — 1,435 (4,268 ) (2,833 ) Net reclassifications — — (2,440 ) 7,256 4,816 Other comprehensive income (loss) 9,637 1,204 (10,412 ) 7,256 7,685 Balance, end of period $ (42,938 ) $ — $ (6,940 ) $ (494,067 ) $ (543,945 ) Three months ended June 26, 2016 Foreign currency translation adjustments Marketable securities Derivative financial instruments Pension and postretirement benefit plans Total Balance, beginning of period $ (46,151 ) $ (1,139 ) $ (2,466 ) $ (553,582 ) $ (603,338 ) Other comprehensive income (loss) before reclassifications 2,516 (51 ) 8,136 — 10,601 Income tax expense (benefit) 112 19 (3,014 ) — (2,883 ) Net other comprehensive income (loss) before reclassifications 2,628 (32 ) 5,122 — 7,718 Reclassifications: Realized (gains) losses - foreign currency contracts (a) — — (3,551 ) — (3,551 ) Realized (gains) losses - commodities contracts (a) — — 104 — 104 Realized (gains) losses - treasury rate lock (b) — — 90 — 90 Prior service credits (c) — — — (446 ) (446 ) Actuarial losses (c) — — — 12,472 12,472 Total reclassifications before tax — — (3,357 ) 12,026 8,669 Income tax expense (benefit) — — 1,244 (4,454 ) (3,210 ) Net reclassifications — — (2,113 ) 7,572 5,459 Other comprehensive income (loss) 2,628 (32 ) 3,009 7,572 13,177 Balance, end of period $ (43,523 ) $ (1,171 ) $ 543 $ (546,010 ) $ (590,161 ) Six months ended June 25, 2017 Foreign currency translation adjustments Marketable securities Derivative financial instruments Pension and postretirement benefit plans Total Balance, beginning of period $ (68,132 ) $ (1,194 ) $ 12,524 $ (508,579 ) $ (565,381 ) Other comprehensive income (loss) before reclassifications 25,080 1,896 (24,553 ) — 2,423 Income tax expense (benefit) 114 (702 ) 9,087 — 8,499 Net other comprehensive income (loss) before reclassifications 25,194 1,194 (15,466 ) — 10,922 Reclassifications: Realized (gains) losses - foreign currency contracts (a) — — (6,473 ) — (6,473 ) Realized (gains) losses - commodities contracts (a) — — (65 ) — (65 ) Realized (gains) losses - treasury rate lock (b) — — 189 — 189 Prior service credits (c) — — — (578 ) (578 ) Actuarial losses (c) — — — 23,626 23,626 Total reclassifications before tax — — (6,349 ) 23,048 16,699 Income tax expense (benefit) — — 2,351 (8,536 ) (6,185 ) Net reclassifications — — (3,998 ) 14,512 10,514 Other comprehensive income (loss) 25,194 1,194 (19,464 ) 14,512 21,436 Balance, end of period $ (42,938 ) $ — $ (6,940 ) $ (494,067 ) $ (543,945 ) Six months ended June 26, 2016 Foreign currency translation adjustments Marketable securities Derivative financial instruments Pension and postretirement benefit plans Total Balance, beginning of period $ (58,844 ) $ (1,094 ) $ 5,886 $ (561,153 ) $ (615,205 ) Other comprehensive income (loss) before reclassifications 17,087 (122 ) (4,580 ) — 12,385 Income tax (benefit) expense (1,766 ) 45 1,696 — (25 ) Net other comprehensive income (loss) before reclassifications 15,321 (77 ) (2,884 ) — 12,360 Reclassifications: Realized (gains) losses - foreign currency contracts (a) — — (4,407 ) — (4,407 ) Realized (gains) losses - commodities contracts (a) — — 319 — 319 Realized (gains) losses - treasury rate lock (b) — — 181 — 181 Prior service credits (c) — — — (892 ) (892 ) Actuarial losses (c) — — — 24,944 24,944 Total reclassifications before tax — — (3,907 ) 24,052 20,145 Income tax expense (benefit) — — 1,448 (8,909 ) (7,461 ) Net reclassifications — — (2,459 ) 15,143 12,684 Other comprehensive income (loss) 15,321 (77 ) (5,343 ) 15,143 25,044 Balance, end of period $ (43,523 ) $ (1,171 ) $ 543 $ (546,010 ) $ (590,161 ) (a) Amounts reclassified to net income are included in Motorcycles and Related Products cost of goods sold. (b) Amounts reclassified to net income are included in interest expense. (c) Amounts reclassified are included in the computation of net periodic benefit cost. See Note 13 for information related to pension and postretirement benefit plans.

Debt

Debt	6 Months Ended
	Jun. 25, 2017
Debt Disclosure [Abstract]
Debt	Debt Debt with a contractual term of one year or less is generally classified as short-term debt and consisted of the following (in thousands): June 25, December 31, June 26, Unsecured commercial paper $ 928,445 $ 1,055,708 $ 1,020,487 Total short-term debt $ 928,445 $ 1,055,708 $ 1,020,487 Debt with a contractual term greater than one year is generally classified as long-term debt and consisted of the following (in thousands): June 25, December 31, June 26, Secured debt (Note 10) Asset-backed Canadian commercial paper conduit facility $ 138,739 $ 149,338 $ 161,626 Asset-backed U.S. commercial paper conduit facilities 279,833 — — Asset-backed securitization debt 522,095 797,755 1,077,317 Less: unamortized discount and debt issuance costs (795 ) (1,480 ) (2,386 ) Total secured debt 939,872 945,613 1,236,557 Unsecured notes 2.70% Medium-term notes due in 2017 par value, issued January 2012 — 400,000 400,000 1.55% Medium-term notes due in 2017 par value, issued November 2014 400,000 400,000 400,000 6.80% Medium-term notes due in 2018 par value, issued May 2008 877,488 877,488 878,708 2.25% Medium-term notes due in 2019 par value, issued January 2016 600,000 600,000 600,000 Floating-rate Medium-term notes due in 2019 par value, issued March 2017 150,000 — — 2.40% Medium-term notes due in 2019 par value, issued September 2014 600,000 600,000 600,000 2.15% Medium-term notes due in 2020 par value, issued February 2015 600,000 600,000 600,000 2.40% Medium-term notes due in 2020 par value, issued March 2017 350,000 — — 2.85% Medium-term notes due in 2021 par value, issued January 2016 600,000 600,000 600,000 2.55% Medium-term notes due in 2022 par value, issued June 2017 400,000 — — 3.50% Senior unsecured notes due in 2025 par value, issued July 2015 450,000 450,000 450,000 4.625% Senior unsecured notes due in 2045 par value, issued July 2015 300,000 300,000 300,000 Less: unamortized discount and debt issuance costs (23,452 ) (21,242 ) (24,429 ) Gross long-term debt 6,243,908 5,751,859 6,040,836 Less: current portion of long-term debt, net of unamortized discount and debt issuance costs (1,565,558 ) (1,084,884 ) (732,773 ) Total long-term debt $ 4,678,350 $ 4,666,975 $ 5,308,063

Asset-Backed Financing

Asset-Backed Financing	6 Months Ended
	Jun. 25, 2017
Transfers and Servicing [Abstract]
Asset-Backed Financing	Asset-Backed Financing The Company participates in asset-backed financing both through asset-backed securitization transactions and through asset-backed commercial paper conduit facilities. In the Company's asset-backed financing programs, the Company transfers retail motorcycle finance receivables to special purpose entities (SPEs), which are considered VIEs under U.S. GAAP. Each SPE then converts those assets into cash, through the issuance of debt. The Company retains servicing rights for all of the retail motorcycle finance receivables transferred to SPEs as part of an asset-backed financing. The accounting treatment for asset-backed financings depends on the terms of the related transaction and the Company’s continuing involvement with the VIE. In transactions where the Company has power over the significant activities of the VIE and has an obligation to absorb losses or the right to receive benefits from the VIE that are potentially significant to the VIE, the Company is the primary beneficiary of the VIE and consolidates the VIE within its consolidated financial statements. On a consolidated basis, the asset-backed financing is treated as a secured borrowing in this type of transaction and is referred to as an on-balance sheet asset-backed financing. In transactions where the Company is not the primary beneficiary of the VIE, the Company must determine whether it can achieve a sale for accounting purposes under ASC Topic 860, "Transfers and Servicing." To achieve a sale for accounting purposes, the assets being transferred must be legally isolated, not be constrained by restrictions from further transfer, and be deemed to be beyond the Company’s control. If the Company does not meet all of these criteria for sale accounting, then the transaction is accounted for as a secured borrowing and is referred to as an on-balance sheet asset-backed financing. If the Company meets all three of the sale criteria above, the transaction is recorded as a sale for accounting purposes and is referred to as an off-balance sheet asset-backed financing. Upon sale, the retail motorcycle finance receivables are removed from the Company’s balance sheet and a gain or loss is recognized for the difference between the cash proceeds received, the assets derecognized, and the liabilities recognized as part of the transaction. The gain or loss on sale is included in Financial Services revenue in the Consolidated Statement of Income. The Company is not required, and does not currently intend, to provide any additional financial support to the on or off-balance sheet VIEs associated with these transactions. Investors and creditors in these transactions only have recourse to the assets held by the VIEs. The following tables show the assets and liabilities related to the on-balance sheet asset-backed financings included in the financial statements (in thousands): June 25, 2017 Finance receivables Allowance for credit losses Restricted cash Other assets Total assets Asset-backed debt On-balance sheet assets and liabilities Consolidated VIEs Asset-backed securitizations $ 599,754 $ (18,291 ) $ 47,980 $ 1,360 $ 630,803 $ 521,300 Asset-backed U.S. commercial paper conduit facilities 298,700 (9,132 ) 14,993 810 305,371 279,833 Unconsolidated VIEs Asset-backed Canadian commercial paper conduit facility 152,248 (2,911 ) 11,422 203 160,962 138,739 Total on-balance sheet assets and liabilities $ 1,050,702 $ (30,334 ) $ 74,395 $ 2,373 $ 1,097,136 $ 939,872 December 31, 2016 Finance receivables Allowance for credit losses Restricted cash Other assets Total assets Asset-backed debt On-balance sheet assets and liabilities Consolidated VIEs Asset-backed securitizations $ 893,804 $ (25,468 ) $ 57,057 $ 2,452 $ 927,845 $ 796,275 Asset-backed U.S. commercial paper conduit facilities — — — 329 329 — Unconsolidated VIEs Asset-backed Canadian commercial paper conduit facility 165,719 (3,573 ) 10,090 426 172,662 149,338 Total on-balance sheet assets and liabilities $ 1,059,523 $ (29,041 ) $ 67,147 $ 3,207 $ 1,100,836 $ 945,613 June 26, 2016 Finance receivables Allowance for credit losses Restricted cash Other assets Total assets Asset-backed debt On-balance sheet assets and liabilities Consolidated VIEs Asset-backed securitizations $ 1,173,527 $ (30,431 ) $ 79,475 $ 2,825 $ 1,225,396 $ 1,074,931 Asset-backed U.S. commercial paper conduit facilities — — — 222 222 — Unconsolidated VIEs Asset-backed Canadian commercial paper conduit facility 177,360 (3,620 ) 13,175 332 187,247 161,626 Total on-balance sheet assets and liabilities $ 1,350,887 $ (34,051 ) $ 92,650 $ 3,379 $ 1,412,865 $ 1,236,557 On-Balance Sheet Asset-Backed Securitization VIEs The Company transfers U.S. retail motorcycle finance receivables to SPEs which in turn issue secured notes to investors, with various maturities and interest rates, secured by future collections of the purchased U.S. retail motorcycle finance receivables. Each on-balance sheet asset-backed securitization SPE is a separate legal entity, and the U.S. retail motorcycle finance receivables included in the asset-backed securitizations are only available for payment of the secured debt and other obligations arising from the asset-backed securitization transaction and are not available to pay other obligations or claims of the Company’s creditors until the associated secured debt and other obligations are satisfied. Restricted cash balances held by the SPEs are used only to support the securitizations. There are no amortization schedules for the secured notes; however, the debt is reduced monthly as available collections on the related U.S. retail motorcycle finance receivables are applied to outstanding principal. The secured notes’ contractual lives have various maturities ranging from 2019 to 2022. The Company is the primary beneficiary of its on-balance sheet asset-backed securitization VIEs because it retains servicing rights and a residual interest in the VIEs in the form of a debt security. As the servicer, the Company is the variable interest holder with the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance. As a residual interest holder, the Company has the obligation to absorb losses and the right to receive benefits which could potentially be significant to the VIE. There were no on-balance sheet asset-backed securitization transactions during the first half of 2017 or 2016 . On-Balance Sheet Asset-Backed U.S. Commercial Paper Conduit Facilities VIE On December 14, 2016 , the Company entered into a new revolving facility agreement with a third party bank-sponsored asset-backed U.S. commercial paper conduit, which provides for a total commitment of up to $300.0 million . Also on that date, the Company renewed its existing $600.0 million revolving facility agreement, which had expired on December 14, 2016 , with the same third party bank-sponsored asset-backed U.S. commercial paper conduit. Availability under the revolving facilities (together, the U.S. Conduit Facilities) is based on, among other things, the amount of eligible U.S. retail motorcycle finance receivables held by the SPE as collateral. Under the U.S. Conduit Facilities, the Company may transfer U.S. retail motorcycle finance receivables to an SPE, which in turn may issue debt to the third party bank-sponsored asset-backed commercial paper conduit. The assets of the SPE are restricted as collateral for the payment of the debt or other obligations arising in the transaction and are not available to pay other obligations or claims of the Company’s creditors. The terms for this debt provide for interest on the outstanding principal based on prevailing commercial paper rates or LIBOR to the extent the advance is not funded by a conduit lender through the issuance of commercial paper plus, in each case, a program fee based on outstanding principal. The U.S. Conduit Facilities also provide for an unused commitment fee based on the unused portion of the total aggregate commitment of $900.0 million . There is no amortization schedule; however, the debt will be reduced monthly as available collections on the related finance receivables are applied to outstanding principal. Upon expiration of the U.S. Conduit Facilities, any outstanding principal will continue to be reduced monthly through available collections. Unless earlier terminated or extended by mutual agreement of the Company and the lenders, as of June 25, 2017 , the U.S. Conduit Facilities have an expiration date of December 13, 2017 . The Company is the primary beneficiary of its U.S. Conduit Facilities VIE because it retains servicing rights and a residual interest in the VIE in the form of a debt security. As the servicer, the Company is the variable interest holder with the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance. As a residual interest holder, the Company has the obligation to absorb losses and the right to receive benefits which could potentially be significant to the VIE. In January 2017 and April 2017, the Company transferred $333.4 million and $28.2 million , respectively, of U.S. retail motorcycle finance receivables to an SPE which, in turn, issued $300.0 million and $24.0 million , respectively, of debt under the U.S. Conduit Facilities. The contractual maturity of the debt is approximately 5 years . The VIE had no borrowings outstanding under the U.S. Conduit Facilities at December 31, 2016 or June 26, 2016 . On-Balance Sheet Asset-Backed Canadian Commercial Paper Conduit Facility In June 2016, the Company amended its facility agreement (Canadian Conduit) with a Canadian bank-sponsored asset-backed commercial paper conduit. Under the agreement, the Canadian Conduit is contractually committed, at the Company's option, to purchase eligible Canadian retail motorcycle finance receivables for proceeds up to C$240.0 million . The transferred assets are restricted as collateral for the payment of the debt. The terms for this debt provide for interest on the outstanding principal based on prevailing market interest rates plus a specified margin. The Canadian Conduit also provides for a program fee and an unused commitment fee based on the unused portion of the total aggregate commitment of C$240.0 million . There is no amortization schedule; however, the debt is reduced monthly as available collections on the related finance receivables are applied to outstanding principal. Upon expiration of the Canadian Conduit, any outstanding principal will continue to be reduced monthly through available collections. The contractual maturity of the debt is approximately 5 years . Unless earlier terminated or extended by mutual agreement of the Company and the lenders, as of June 25, 2017 , the Canadian Conduit had an expiration date of June 30, 2017 . The Canadian Conduit was renewed on June 30, 2017 with similar terms and a borrowing amount of up to C$220.0 million with an expiration date of June 30, 2018 . The Company is not the primary beneficiary of the Canadian bank-sponsored, multi-seller conduit VIE; therefore, the Company doesn’t consolidate the VIE. However, the Company treats the conduit facility as a secured borrowing as it maintains effective control over the assets transferred to the VIE and, therefore, doesn’t meet the requirements for sale accounting. As the Company participates in and does not consolidate the Canadian bank-sponsored, multi-seller conduit VIE, the maximum exposure to loss associated with this VIE, which would only be incurred in the unlikely event that all the finance receivables and underlying collateral have no residual value, was $22.2 million at June 25, 2017 . The maximum exposure is not an indication of the Company's expected loss exposure. The following table includes quarterly transfers of Canadian retail motorcycle finance receivables to the Canadian Conduit and the respective proceeds (in thousands): 2017 2016 Transfers Proceeds Transfers Proceeds First quarter $ 6,300 $ 5,500 $ 6,600 $ 5,800 Second quarter 14,200 12,400 31,400 27,500 $ 20,500 $ 17,900 $ 38,000 $ 33,300 Off-Balance Sheet Asset-Backed Securitization VIE There were no off-balance sheet asset-backed securitization transactions during the first half of 2017 . During the second quarter of 2016, the Company sold retail motorcycle finance receivables with a principal balance of $301.8 million into a securitization VIE that was not consolidated, recognized a gain of $9.3 million and received cash proceeds of $312.6 million . Similar to an on-balance sheet asset-backed securitization, the Company transferred U.S. retail motorcycle finance receivables to an SPE which in turn issued secured notes to investors, with various maturities and interest rates, secured by future collections of the purchased U.S. retail motorcycle finance receivables. The off-balance sheet asset-backed securitization SPE is a separate legal entity, and the U.S. retail motorcycle finance receivables included in the asset-backed securitization are only available for payment of the secured debt and other obligations arising from the asset-backed securitization transaction and are not available to pay other obligations or claims of the Company’s creditors. In an on-balance sheet asset-backed securitization, the Company retains a financial interest in the VIE in the form of a debt security. As part of this off-balance sheet securitization, the Company did not retain any financial interest in the VIE beyond servicing rights and ordinary representations and warranties and related covenants. The Company is not the primary beneficiary of the off-balance sheet asset-backed securitization VIE because it only retained servicing rights and does not have the obligation to absorb losses or the right to receive benefits from the VIE which could potentially be significant to the VIE. Accordingly, this transaction met the accounting sale requirements under ASC Topic 860 and was recorded as a sale for accounting purposes. Upon the sale, the retail motorcycle finance receivables were removed from the Company’s balance sheet and a gain was recognized for the difference between the cash proceeds received, the assets derecognized and the liabilities recognized as part of the transaction. The gain on sale was included in Financial Services revenue in the Consolidated Statement of Income. At June 25, 2017 , the assets of this off-balance sheet asset-backed securitization VIE were $187.8 million and represented the current unpaid principal balance of the retail motorcycle finance receivables, which was the Company’s maximum exposure to loss in the off-balance sheet VIE at June 25, 2017 . This is based on the unlikely event that all the receivables have underwriting defects or other defects that trigger a violation of certain covenants and that the underlying collateral has no residual value. This maximum exposure is not an indication of expected losses. Servicing Activities The Company services all retail motorcycle finance receivables that it originates. When the Company transfers retail motorcycle finance receivables to SPEs through asset-backed financings, the Company retains the right to service the finance receivables and receives servicing fees based on the securitized finance receivables balance and certain ancillary fees. In on-balance sheet asset-backed financing, servicing fees are eliminated in consolidation and therefore are not recorded on a consolidated basis. In off-balance sheet asset-backed financings, servicing fees and ancillary fees are recorded in Financial Services revenue in the Consolidated Statement of Income. The fees the Company is paid for servicing represent adequate compensation, and consequently, the Company does not recognize a servicing asset or liability. The Company recognized servicing fee income of $1.1 million and $0.3 million during the six months ended June 25, 2017 and June 26, 2016 , respectively. The unpaid principal balance of retail motorcycle finance receivables serviced by the Company was as follows (in thousands): June 25, December 31, June 26, On-balance sheet retail motorcycle finance receivables $ 6,121,372 $ 5,839,467 $ 5,872,668 Off-balance sheet retail motorcycle finance receivables 187,769 236,706 292,176 Total serviced retail motorcycle finance receivables $ 6,309,141 $ 6,076,173 $ 6,164,844 The unpaid principal balance of retail motorcycle finance receivables serviced by the Company 30 days or more delinquent was as follows (in thousands): Amount 30 days or more past due: June 25, December 31, June 26, On-balance sheet retail motorcycle finance receivables $ 180,619 $ 221,393 $ 168,091 Off-balance sheet retail motorcycle finance receivables 1,659 1,858 460 Total serviced retail motorcycle finance receivables $ 182,278 $ 223,251 $ 168,551 Credit losses, net of recoveries for the retail motorcycle finance receivables serviced by the Company were as follows (in thousands): Three months ended Six months ended June 25, June 26, June 25, June 26, On-balance sheet retail motorcycle finance receivables $ 16,719 $ 15,001 $ 49,621 $ 43,118 Off-balance sheet retail motorcycle finance receivables 152 15 566 15 Total serviced retail motorcycle finance receivables $ 16,871 $ 15,016 $ 50,187 $ 43,133

Product Warranty and Safety Rec

Product Warranty and Safety Recall Campaigns	6 Months Ended
	Jun. 25, 2017
Product Warranties Disclosures [Abstract]
Product Warranty and Safety Recall Campaigns	Product Warranty and Recall Campaigns The Company currently provides a standard two -year limited warranty on all new motorcycles sold worldwide, except for Japan, where the Company currently provides a standard three -year limited warranty on all new motorcycles sold. In addition, the Company provides a one -year warranty for Parts & Accessories (P&A). The warranty coverage for the retail customer generally begins when the product is sold to a retail customer. The Company maintains reserves for future warranty claims using an estimated cost, which is based primarily on historical Company claim information maintained by the Company. Additionally, the Company has from time to time initiated voluntary recall campaigns. The Company reserves for all estimated costs associated with recalls in the period that management approves and commits to the recall. Changes in the Company’s warranty and recall liability were as follows (in thousands): Three months ended Six months ended June 25, June 26, June 25, June 26, Balance, beginning of period $ 78,211 $ 74,836 $ 79,482 $ 74,217 Warranties issued during the period 18,084 20,202 34,836 38,214 Settlements made during the period (21,200 ) (22,679 ) (40,533 ) (40,842 ) Recalls and changes to pre-existing warranty liabilities 5,586 10,121 6,896 10,891 Balance, end of period $ 80,681 $ 82,480 $ 80,681 $ 82,480 The liability for recall campaigns was $7.9 million , $13.6 million and $14.3 million as of June 25, 2017 , December 31, 2016 and June 26, 2016 , respectively.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 25, 2017
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share amounts): Three months ended Six months ended June 25, June 26, June 25, June 26, Numerator : Net income used in computing basic and diluted earnings per share $ 258,867 $ 280,431 $ 445,236 $ 530,920 Denominator : Denominator for basic earnings per share - weighted-average common shares 174,409 180,587 175,178 181,976 Effect of dilutive securities - employee stock compensation plan 915 752 992 764 Denominator for diluted earnings per share - adjusted weighted-average shares outstanding 175,324 181,339 176,170 182,740 Earnings per common share: Basic $ 1.48 $ 1.55 $ 2.54 $ 2.92 Diluted $ 1.48 $ 1.55 $ 2.53 $ 2.91 Outstanding options to purchase 0.6 million and 1.5 million shares of common stock for the three months ended June 25, 2017 and June 26, 2016 , respectively, and 0.7 million and 1.7 million shares of common stock for the six months ended June 25, 2017 and June 26, 2016 , respectively, were not included in the Company’s computation of dilutive securities because the exercise price was greater than the market price and therefore the effect would have been anti-dilutive. The Company has a share-based compensation plan under which employees may be granted share-based awards including restricted stock units (RSUs). Non-forfeitable dividend equivalents are paid on unvested RSUs. As such, RSUs are considered participating securities under the two-class method of calculating earnings per share as described in ASC Topic 260, “Earnings per Share.” The two-class method of calculating earnings per share did not have a material impact on the Company’s earnings per share calculation for the three and six month periods ended June 25, 2017 and June 26, 2016 .

Employee Benefit Plans

Employee Benefit Plans	6 Months Ended
	Jun. 25, 2017
Compensation and Retirement Disclosure [Abstract]
Employee Benefit Plans	Employee Benefit Plans The Company has a defined benefit qualified pension plan and postretirement healthcare benefit plans that cover certain employees of the Motorcycles segment. The Company also has unfunded supplemental employee retirement plan agreements (SERPA) with certain employees which were instituted to replace benefits lost under the Tax Revenue Reconciliation Act of 1993. Net periodic benefit costs are allocated among selling, administrative and engineering expense, cost of goods sold and inventory. Amounts capitalized in inventory are not significant. Components of net periodic benefit costs were as follows (in thousands): Three months ended Six months ended June 25, June 26, June 25, June 26, Pension and SERPA Benefits Service cost $ 7,896 $ 8,359 $ 15,792 $ 16,718 Interest cost 21,269 22,707 42,538 45,414 Expected return on plan assets (35,345 ) (36,445 ) (70,690 ) (72,890 ) Amortization of unrecognized: Prior service cost 254 255 508 510 Net loss 10,998 11,588 21,996 23,176 Settlement loss — 300 — 600 Net periodic benefit cost $ 5,072 $ 6,764 $ 10,144 $ 13,528 Postretirement Healthcare Benefits Service cost $ 1,875 $ 1,870 $ 3,750 $ 3,740 Interest cost 3,412 3,704 6,824 7,408 Expected return on plan assets (3,156 ) (3,017 ) (6,312 ) (6,034 ) Amortization of unrecognized: Prior service credit (543 ) (701 ) (1,086 ) (1,402 ) Net loss 815 884 1,630 1,768 Net periodic benefit cost $ 2,403 $ 2,740 $ 4,806 $ 5,480 During the first half of 2017, the Company voluntarily contributed $25.0 million in cash to further fund its qualified pension plan. There are no required or planned contributions to the qualified pension plan for the remainder of 2017 . The Company expects it will continue to make ongoing benefit payments under the SERPA and postretirement healthcare plans.

Business Segments

Business Segments	6 Months Ended
	Jun. 25, 2017
Segment Reporting [Abstract]
Business Segments	Business Segments Harley-Davidson, Inc. is the parent company for the groups of companies doing business as Harley-Davidson Motor Company (HDMC) and Harley-Davidson Financial Services (HDFS). The Company operates in two segments: the Motorcycles & Related Products (Motorcycles) segment and the Financial Services segment. The Company’s reportable segments are strategic business units that offer different products and services and are managed separately based on the fundamental differences in their operations. Selected segment information is set forth below (in thousands): Three months ended Six months ended June 25, June 26, June 25, June 26, Motorcycles net revenue $ 1,577,135 $ 1,670,113 $ 2,905,846 $ 3,246,723 Gross profit 575,623 607,558 1,053,108 1,197,838 Selling, administrative and engineering expense 255,976 284,809 494,619 542,632 Operating income from Motorcycles 319,647 322,749 558,489 655,206 Financial Services revenue 188,034 190,964 361,255 364,322 Financial Services expense 106,099 101,391 226,684 218,378 Operating income from Financial Services 81,935 89,573 134,571 145,944 Operating income $ 401,582 $ 412,322 $ 693,060 $ 801,150

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 25, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company is subject to lawsuits and other claims related to environmental, product and other matters. In determining required reserves related to these items, the Company carefully analyzes cases and considers the likelihood of adverse judgments or outcomes, as well as the potential range of possible loss. The required reserves are monitored on an ongoing basis and are updated based on new developments or new information in each matter. Environmental Protection Agency Notice: In December 2009, the Company received formal, written requests for information from the United States Environmental Protection Agency (EPA) regarding: (i) certificates of conformity for motorcycle emissions and related designations and labels, (ii) aftermarket parts, and (iii) warranty claims on emissions related components. The Company promptly submitted written responses to the EPA’s inquiry and has engaged in information exchanges and discussions with the EPA. In August 2016, the Company entered into a consent decree with the EPA regarding these issues, and the consent decree was subsequently revised (the Settlement). In the Settlement, the Company agreed to, among other things, pay a fine, and not sell tuning products unless they are approved by the EPA or California Air Resources Board. Following the required public comment period, the Company anticipates the EPA will move the court to finalize the Settlement in the coming months. The Company has a reserve associated with this matter which is included in accrued liabilities in the Consolidated Balance Sheet, and as a result, if it is finalized, the Settlement would not have a material adverse effect on the Company's financial condition or results of operations. The Settlement is not final until it is approved by the court, and if it is not approved by the court, the Company cannot reasonably estimate the impact of any remedies the EPA might seek beyond the Company's current reserve for this matter. York Environmental Matters: The Company is involved with government agencies and groups of potentially responsible parties related to a matter involving the cleanup of soil and groundwater contamination at its York, Pennsylvania facility. The York facility was formerly used by the U.S. Navy and AMF prior to the purchase of the York facility by the Company from AMF in 1981. Although the Company is not certain as to the full extent of the environmental contamination at the York facility, it has been working with the Pennsylvania Department of Environmental Protection (PADEP) since 1986 in undertaking environmental investigation and remediation activities, including a site-wide remedial investigation/feasibility study (RI/FS). In January 1995, the Company entered into a settlement agreement (the Agreement) with the Navy, and the parties amended the Agreement in 2013 to address ordnance and explosive waste. The Agreement calls for the Navy and the Company to contribute amounts into a trust equal to 53% and 47% , respectively, of costs associated with environmental investigation and remediation activities at the York facility (Response Costs). The trust administers the payment of the Response Costs incurred at the York facility as covered by the Agreement. The Company has a reserve for its estimate of its share of the future Response Costs at the York facility which is included in accrued liabilities in the Consolidated Balance Sheets. While much of the work on the RI/FS is complete, it is still under agency review and given the uncertainty that exists concerning the nature and scope of additional environmental investigation and remediation that may ultimately be required under the RI/FS that is finally approved or otherwise at the York facility, the Company is unable to make a reasonable estimate of those additional costs, if any, that may result. The estimate of the Company's future Response Costs that will be incurred at the York facility is based on reports of independent environmental consultants retained by the Company, the actual costs incurred to date and the estimated costs to complete the necessary investigation and remediation activities. Product Liability Matters: The Company is involved in product liability suits related to the operation of its business. The Company accrues for claim exposures that are probable of occurrence and can be reasonably estimated. The Company also maintains insurance coverage for product liability exposures. The Company believes that its accruals and insurance coverage are adequate and that product liability suits will not have a material adverse effect on the Company’s consolidated financial statements. National Highway Traffic Safety Administration Matters: In July 2016, the National Highway Traffic Safety Administration (NHTSA) began an investigation into certain of the Company's motorcycles equipped with anti-lock braking systems (ABS). NHTSA’s investigation is in response to rider complaints related to brake failures, and applies to model year 2008-2013 Touring and model year 2008-2017 V-ROD ® motorcycles. NHTSA noted that Harley-Davidson has a two-year brake fluid replacement interval that owners either are unaware of or ignore. The Company does not believe that a loss related to this matter is probable and no reserve has been established. However, it is possible that the outcome of NHTSA’s investigation could result in future costs to the Company. Given the uncertainty that still exists concerning the resolution of this matter, the Company cannot reasonably estimate these possible future costs, if any.

Supplemental Consolidating Data

Supplemental Consolidating Data	6 Months Ended
	Jun. 25, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Supplemental Consolidating Data	Supplemental Consolidating Data The supplemental consolidating data for the periods noted is presented for informational purposes. The supplemental consolidating data may be different than segment information presented elsewhere due to the allocation of intercompany eliminations to reporting segments. All supplemental data is presented in thousands. Three months ended June 25, 2017 HDMC Entities HDFS Entities Eliminations Consolidated Revenue: Motorcycles and Related Products $ 1,580,109 $ — $ (2,974 ) $ 1,577,135 Financial Services — 188,712 (678 ) 188,034 Total revenue 1,580,109 188,712 (3,652 ) 1,765,169 Costs and expenses: Motorcycles and Related Products cost of goods sold 1,001,512 — — 1,001,512 Financial Services interest expense — 44,408 — 44,408 Financial Services provision for credit losses — 26,217 — 26,217 Selling, administrative and engineering expense 256,513 38,448 (3,511 ) 291,450 Total costs and expenses 1,258,025 109,073 (3,511 ) 1,363,587 Operating income 322,084 79,639 (141 ) 401,582 Investment income 577 — — 577 Interest expense 7,726 — — 7,726 Income before provision for income taxes 314,935 79,639 (141 ) 394,433 Provision for income taxes 106,035 29,531 — 135,566 Net income $ 208,900 $ 50,108 $ (141 ) $ 258,867 Six months ended June 25, 2017 HDMC Entities HDFS Entities Eliminations Consolidated Revenue: Motorcycles and Related Products $ 2,910,727 $ — $ (4,881 ) $ 2,905,846 Financial Services — 362,269 (1,014 ) 361,255 Total revenue 2,910,727 362,269 (5,895 ) 3,267,101 Costs and expenses: Motorcycles and Related Products cost of goods sold 1,852,738 — — 1,852,738 Financial Services interest expense — 87,697 — 87,697 Financial Services provision for credit losses — 69,806 — 69,806 Selling, administrative and engineering expense 495,509 74,062 (5,771 ) 563,800 Total costs and expenses 2,348,247 231,565 (5,771 ) 2,574,041 Operating income 562,480 130,704 (124 ) 693,060 Investment income 107,456 — (106,000 ) 1,456 Interest expense 15,399 — — 15,399 Income before provision for income taxes 654,537 130,704 (106,124 ) 679,117 Provision for income taxes 185,192 48,689 — 233,881 Net income $ 469,345 $ 82,015 $ (106,124 ) $ 445,236 Three months ended June 26, 2016 HDMC Entities HDFS Entities Eliminations Consolidated Revenue: Motorcycles and Related Products $ 1,673,379 $ — $ (3,266 ) $ 1,670,113 Financial Services — 191,935 (971 ) 190,964 Total revenue 1,673,379 191,935 (4,237 ) 1,861,077 Costs and expenses: Motorcycles and Related Products cost of goods sold 1,062,555 — — 1,062,555 Financial Services interest expense — 42,895 — 42,895 Financial Services provision for credit losses — 23,461 — 23,461 Selling, administrative and engineering expense 285,367 38,301 (3,824 ) 319,844 Total costs and expenses 1,347,922 104,657 (3,824 ) 1,448,755 Operating income 325,457 87,278 (413 ) 412,322 Investment income 43,688 — (43,000 ) 688 Interest expense 7,094 — — 7,094 Income before provision for income taxes 362,051 87,278 (43,413 ) 405,916 Provision for income taxes 93,788 31,697 — 125,485 Net income $ 268,263 $ 55,581 $ (43,413 ) $ 280,431 Six months ended June 26, 2016 HDMC Entities HDFS Entities Eliminations Consolidated Revenue: Motorcycles and Related Products $ 3,252,018 $ — $ (5,295 ) $ 3,246,723 Financial Services — 365,456 (1,134 ) 364,322 Total revenue 3,252,018 365,456 (6,429 ) 3,611,045 Costs and expenses: Motorcycles and Related Products cost of goods sold 2,048,885 — — 2,048,885 Financial Services interest expense — 88,814 — 88,814 Financial Services provision for credit losses — 60,584 — 60,584 Selling, administrative and engineering expense 543,598 74,275 (6,261 ) 611,612 Total costs and expenses 2,592,483 223,673 (6,261 ) 2,809,895 Operating income 659,535 141,783 (168 ) 801,150 Investment income 184,454 — (183,000 ) 1,454 Interest expense 14,262 — — 14,262 Income before provision for income taxes 829,727 141,783 (183,168 ) 788,342 Provision for income taxes 204,361 53,061 — 257,422 Net income $ 625,366 $ 88,722 $ (183,168 ) $ 530,920 June 25, 2017 HDMC Entities HDFS Entities Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ 586,892 $ 401,584 $ — $ 988,476 Accounts receivable, net 709,343 — (378,410 ) 330,933 Finance receivables, net — 2,338,533 — 2,338,533 Inventories 372,012 — — 372,012 Restricted cash — 63,225 — 63,225 Other current assets 108,162 43,261 — 151,423 Total current assets 1,776,409 2,846,603 (378,410 ) 4,244,602 Finance receivables, net — 4,994,002 — 4,994,002 Property, plant and equipment, net 905,244 41,082 — 946,326 Goodwill 54,630 — — 54,630 Deferred income taxes 100,949 71,108 (1,699 ) 170,358 Other long-term assets 139,742 22,740 (84,629 ) 77,853 $ 2,976,974 $ 7,975,535 $ (464,738 ) $ 10,487,771 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable $ 298,372 $ 407,384 $ (378,410 ) $ 327,346 Accrued liabilities 441,102 92,217 93 533,412 Short-term debt — 928,445 — 928,445 Current portion of long-term debt, net — 1,565,558 — 1,565,558 Total current liabilities 739,474 2,993,604 (378,317 ) 3,354,761 Long-term debt, net 741,633 3,936,717 — 4,678,350 Pension liability 51,797 — — 51,797 Postretirement healthcare liability 166,023 — — 166,023 Other long-term liabilities 155,086 32,714 2,873 190,673 Commitments and contingencies (Note 15) Shareholders’ equity 1,122,961 1,012,500 (89,294 ) 2,046,167 $ 2,976,974 $ 7,975,535 $ (464,738 ) $ 10,487,771 December 31, 2016 HDMC Entities HDFS Entities Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ 425,540 $ 334,444 $ — $ 759,984 Marketable securities 5,019 500 — 5,519 Accounts receivable, net 450,186 — (165,080 ) 285,106 Finance receivables, net — 2,076,261 — 2,076,261 Inventories 499,917 — — 499,917 Restricted cash — 52,574 — 52,574 Other current assets 127,606 46,934 (49 ) 174,491 Total current assets 1,508,268 2,510,713 (165,129 ) 3,853,852 Finance receivables, net — 4,759,197 — 4,759,197 Property, plant and equipment, net 942,634 38,959 — 981,593 Goodwill 53,391 — — 53,391 Deferred income taxes 103,487 66,152 (1,910 ) 167,729 Other long-term assets 132,835 24,769 (83,126 ) 74,478 $ 2,740,615 $ 7,399,790 $ (250,165 ) $ 9,890,240 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable $ 219,353 $ 181,045 $ (165,080 ) $ 235,318 Accrued liabilities 395,907 90,910 (165 ) 486,652 Short-term debt — 1,055,708 — 1,055,708 Current portion of long-term debt, net — 1,084,884 — 1,084,884 Total current liabilities 615,260 2,412,547 (165,245 ) 2,862,562 Long-term debt, net 741,306 3,925,669 — 4,666,975 Pension liability 84,442 — — 84,442 Postretirement healthcare liability 173,267 — — 173,267 Other long-term liabilities 150,391 29,697 2,748 182,836 Commitments and contingencies (Note 15) Shareholders’ equity 975,949 1,031,877 (87,668 ) 1,920,158 $ 2,740,615 $ 7,399,790 $ (250,165 ) $ 9,890,240 June 26, 2016 HDMC Entities HDFS Entities Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ 445,662 $ 419,008 $ — $ 864,670 Marketable securities 5,070 — — 5,070 Accounts receivable, net 816,439 — (504,483 ) 311,956 Finance receivables, net — 2,457,974 — 2,457,974 Inventories 371,196 — — 371,196 Restricted cash — 78,078 — 78,078 Deferred income taxes 60,497 55,717 — 116,214 Other current assets 124,923 38,203 (9,260 ) 153,866 Total current assets 1,823,787 3,048,980 (513,743 ) 4,359,024 Finance receivables, net — 4,824,071 — 4,824,071 Property, plant and equipment, net 916,388 34,921 — 951,309 Goodwill 54,542 — — 54,542 Deferred income taxes 76,194 8,555 (1,702 ) 83,047 Other long-term assets 133,540 24,744 (81,837 ) 76,447 $ 3,004,451 $ 7,941,271 $ (597,282 ) $ 10,348,440 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable $ 239,380 $ 538,799 $ (504,483 ) $ 273,696 Accrued liabilities 397,645 97,150 (8,984 ) 485,811 Short-term debt — 1,020,487 — 1,020,487 Current portion of long-term debt, net — 732,773 — 732,773 Total current liabilities 637,025 2,389,209 (513,467 ) 2,512,767 Long-term debt, net 740,982 4,567,081 — 5,308,063 Pension liability 129,465 — — 129,465 Postretirement healthcare liability 188,846 — — 188,846 Other long-term liabilities 157,835 27,621 2,836 188,292 Commitments and contingencies (Note 15) Shareholders’ equity 1,150,298 957,360 (86,651 ) 2,021,007 $ 3,004,451 $ 7,941,271 $ (597,282 ) $ 10,348,440 Six months ended June 25, 2017 HDMC Entities HDFS Entities Eliminations Consolidated Cash flows from operating activities: Net income $ 469,345 $ 82,015 $ (106,124 ) $ 445,236 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization of intangibles 104,157 3,421 — 107,578 Amortization of deferred loan origination costs — 40,771 — 40,771 Amortization of financing origination fees 327 3,752 — 4,079 Provision for long-term employee benefits 14,950 — — 14,950 Employee benefit plan contributions and payments (37,307 ) — — (37,307 ) Stock compensation expense 15,995 1,502 — 17,497 Net change in wholesale finance receivables related to sales — — (271,927 ) (271,927 ) Provision for credit losses — 69,806 — 69,806 Deferred income taxes 4,975 (4,586 ) (211 ) 178 Other, net (6,422 ) 2,134 125 (4,163 ) Changes in current assets and liabilities: Accounts receivable, net (241,569 ) — 213,330 (28,239 ) Finance receivables - accrued interest and other — 2,067 — 2,067 Inventories 138,942 — — 138,942 Accounts payable and accrued liabilities 112,916 228,247 (208,043 ) 133,120 Derivative instruments 3,106 8 — 3,114 Other (8,683 ) 98 (49 ) (8,634 ) Total adjustments 101,387 347,220 (266,775 ) 181,832 Net cash provided by operating activities 570,732 429,235 (372,899 ) 627,068 Six months ended June 25, 2017 HDMC Entities HDFS Entities Eliminations Consolidated Cash flows from investing activities: Capital expenditures (64,273 ) (5,543 ) — (69,816 ) Origination of finance receivables — (4,205,868 ) 2,228,029 (1,977,839 ) Collections on finance receivables — 3,608,929 (1,961,130 ) 1,647,799 Sales and redemptions of marketable securities 6,916 — — 6,916 Other 115 — — 115 Net cash used by investing activities (57,242 ) (602,482 ) 266,899 (392,825 ) Cash flows from financing activities: Proceeds from issuance of medium-term notes — 893,668 — 893,668 Repayments of medium-term notes — (400,000 ) — (400,000 ) Repayments of securitization debt — (275,659 ) — (275,659 ) Borrowings of asset-backed commercial paper — 341,625 — 341,625 Repayments of asset-backed commercial paper — (77,732 ) — (77,732 ) Net decrease in credit facilities and unsecured commercial paper — (128,787 ) — (128,787 ) Net change in restricted cash — (7,248 ) — (7,248 ) Dividends paid (128,452 ) (106,000 ) 106,000 (128,452 ) Purchase of common stock for treasury (243,055 ) — — (243,055 ) Issuance of common stock under employee stock option plans 7,432 — — 7,432 Net cash (used by) provided by financing activities (364,075 ) 239,867 106,000 (18,208 ) Effect of exchange rate changes on cash and cash equivalents 11,937 520 — 12,457 Net increase in cash and cash equivalents $ 161,352 $ 67,140 $ — $ 228,492 Cash and cash equivalents: Cash and cash equivalents—beginning of period $ 425,540 $ 334,444 $ — $ 759,984 Net increase in cash and cash equivalents 161,352 67,140 — 228,492 Cash and cash equivalents—end of period $ 586,892 $ 401,584 $ — $ 988,476 Six months ended June 26, 2016 HDMC Entities HDFS Entities Eliminations Consolidated Cash flows from operating activities: Net income $ 625,366 $ 88,722 $ (183,168 ) $ 530,920 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization of intangibles 97,025 3,931 — 100,956 Amortization of deferred loan origination costs — 43,555 — 43,555 Amortization of financing origination fees 330 4,816 — 5,146 Provision for long-term employee benefits 19,005 — — 19,005 Employee benefit plan contributions and payments (35,189 ) — — (35,189 ) Stock compensation expense 14,562 1,235 — 15,797 Net change in wholesale finance receivables related to sales — — (442,254 ) (442,254 ) Provision for credit losses — 60,584 — 60,584 Gain on off-balance sheet asset-backed securitization — (9,269 ) — (9,269 ) Deferred income taxes 798 (3,906 ) (440 ) (3,548 ) Other, net (20,505 ) (171 ) 168 (20,508 ) Changes in current assets and liabilities: Accounts receivable, net (416,198 ) — 361,089 (55,109 ) Finance receivables - accrued interest and other — (125 ) — (125 ) Inventories 225,586 — — 225,586 Accounts payable and accrued liabilities 23,420 385,992 (355,622 ) 53,790 Derivative instruments (1,474 ) — — (1,474 ) Other (33,237 ) 1,664 — (31,573 ) Total adjustments (125,877 ) 488,306 (437,059 ) (74,630 ) Net cash provided by operating activities 499,489 577,028 (620,227 ) 456,290 Six months ended June 26, 2016 HDMC Entities HDFS Entities Eliminations Consolidated Cash flows from investing activities: Capital expenditures (104,125 ) (3,406 ) — (107,531 ) Origination of finance receivables — (4,507,717 ) 2,516,333 (1,991,384 ) Collections on finance receivables — 3,709,319 (2,079,106 ) 1,630,213 Proceeds from finance receivables sold — 312,571 — 312,571 Sales and redemptions of marketable securities 40,000 — — 40,000 Other 166 — — 166 Net cash used by investing activities (63,959 ) (489,233 ) 437,227 (115,965 ) Cash flows from financing activities: Proceeds from issuance of medium-term notes — 1,193,396 — 1,193,396 Repayments of medium-term notes — (450,000 ) — (450,000 ) Repayments of securitization debt — (385,837 ) — (385,837 ) Borrowings of asset-backed commercial paper — 33,428 — 33,428 Repayments of asset-backed commercial paper — (34,989 ) — (34,989 ) Net decrease in credit facilities and unsecured commercial paper — (181,259 ) — (181,259 ) Net change in restricted cash — 17,992 — 17,992 Dividends paid (127,800 ) (183,000 ) 183,000 (127,800 ) Purchase of common stock for treasury (269,411 ) — — (269,411 ) Excess tax benefits from share-based payments 331 — — 331 Issuance of common stock under employee stock option plans 2,367 — — 2,367 Net cash (used by) provided by financing activities (394,513 ) 9,731 183,000 (201,782 ) Effect of exchange rate changes on cash and cash equivalents 4,202 (284 ) — 3,918 Net increase in cash and cash equivalents $ 45,219 $ 97,242 $ — $ 142,461 Cash and cash equivalents: Cash and cash equivalents—beginning of period $ 400,443 $ 321,766 $ — $ 722,209 Net increase in cash and cash equivalents 45,219 97,242 — 142,461 Cash and cash equivalents—end of period $ 445,662 $ 419,008 $ — $ 864,670

Basis of Presentation and Use23

Basis of Presentation and Use of Estimates (Policies)	6 Months Ended
	Jun. 25, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Use of Estimates	The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and the accompanying notes. Actual results could differ from those estimates.
Accounting Standards Recently Adopted and Not Yet Adopted	Accounting Standards Recently Adopted In March 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-09 Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting (ASU 2016-09). ASU 2016-09 amends the guidance on several aspects of accounting for share-based payment transactions, including income tax consequences, classification of awards as either equity or liabilities, accounting for forfeitures, and classification on the statement of cash flows. The Company adopted ASU 2016-09 on January 1, 2017. The Company elected to apply the amendments related to the classification of excess tax benefits on the statement of cash flows on a prospective basis, and prior periods were not adjusted. The adoption of ASU 2016-09 did not have a material impact on the Company's consolidated financial statements. In July 2015, the FASB issued ASU No. 2015-11 Inventory (Topic 330): Simplifying the Measurement of Inventory (ASU 2015-11). ASU 2015-11 simplifies the subsequent measurement of inventory by using only the lower of cost or net realizable value. ASU 2015-11 does not apply to inventory measured using the last-in, first-out method. The Company adopted ASU 2015-11 on January 1, 2017. The adoption of ASU 2015-11 did not have a material impact on the Company’s consolidated financial statements. Accounting Standards Not Yet Adopted In May 2014, the FASB issued ASU No. 2014-09 Revenue from Contracts with Customers (ASU 2014-09). ASU 2014-09 is a comprehensive new revenue recognition model that requires a company to recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. In August 2015, the FASB issued ASU No. 2015-14 Revenue from Contracts with Customers: Deferral of Effective Date (ASU 2015-14) to defer the effective date of the new revenue recognition standard by one year to fiscal years beginning after December 15, 2017 and interim periods therein. The guidance may be adopted using either a full retrospective or modified retrospective approach. The Company expects to adopt the new revenue recognition guidance using the modified retrospective method. The Company's efforts to evaluate the impact of the standard and to prepare for its adoption on January 1, 2018 are well underway. Based on the work completed to date (which includes the review of significant revenue sources), the Company expects the recognition of revenue for sales of motorcycles, parts and accessories and general merchandise products under the new revenue recognition guidance will occur at a point in time, which is consistent with current practice. Interest income, which makes up the vast majority of revenue in the Financial Services segment, is not within the scope of the new standard. The Company is also assessing its process for accumulating the required information for enhanced disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from its contracts with customers. In January 2016, the FASB issued ASU No. 2016-01 Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities (ASU 2016-01). ASU 2016-01 enhances the existing financial instruments reporting model by modifying fair value measurement tools, simplifying impairment assessments for certain equity instruments and modifying overall presentation and disclosure requirements. The Company is required to adopt ASU 2016-01 for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2017 on a prospective basis. The Company is currently evaluating the impact of adoption of ASU 2016-01. In February 2016, the FASB issued ASU No. 2016-02 Leases (Topic 842) (ASU 2016-02). ASU 2016-02 amends the existing lease accounting model by requiring a lessee to recognize the rights and obligations resulting from certain leases as assets and liabilities on the balance sheet. ASU 2016-02 also requires a company to disclose key information about their leasing arrangements. The Company is required to adopt ASU 2016-02 for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018 using a modified retrospective approach. Early adoption is permitted. The Company is currently evaluating the impact of adoption of ASU 2016-02. In July 2016, the FASB issued ASU No. 2016-13 Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (ASU 2016-13). ASU 2016-13 changes how to recognize expected credit losses on financial assets. The standard requires a more timely recognition of credit losses on loans and other financial assets and also provides additional transparency about credit risk. The current credit loss standard generally requires that a loss actually be incurred before it is recognized, while the new standard will require recognition of full lifetime expected losses upon initial recognition of the financial instrument. The Company is required to adopt ASU 2016-13 for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2019 on a modified retrospective basis. Early adoption is permitted for fiscal years beginning after December 15, 2018. An entity should apply the standard by recording a cumulative effect adjustment to retained earnings upon adoption. Adoption of this standard will impact how the Company recognizes credit losses on its financial instruments. The Company is currently evaluating the impact of adoption of ASU 2016-13 but anticipates the adoption of ASU 2016-13 will result in an increase in the annual provision for credit losses and the related allowance for credit losses. In August 2016, the FASB issued ASU No. 2016-15 Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (ASU 2016-15). ASU 2016-15 addresses eight specific cash flow issues with the objective of reducing diversity in practice regarding how certain cash receipts and cash payments are presented in the statement of cash flows. The standard provides guidance on the classification of the following items: (1) debt prepayment or debt extinguishment costs, (2) settlement of zero-coupon debt instruments, (3) contingent consideration payments made after a business combination, (4) proceeds from the settlement of insurance claims, (5) proceeds from the settlement of corporate-owned life insurance policies, (6) distributions received from equity method investments, (7) beneficial interests in securitization transactions, and (8) separately identifiable cash flows. The Company is required to adopt ASU 2016-15 for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2017 on a retrospective basis. Early adoption is permitted, including adoption in an interim period. The Company is currently evaluating the impact of adoption of ASU 2016-15. In October 2016, the FASB issued ASU No. 2016-16 Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory (ASU 2016-16). ASU 2016-16 states that an entity should recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. Two common assets included in the scope of the ASU are intellectual property and property, plant and equipment. The Company is required to adopt ASU 2016-16 for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2017 using a modified retrospective approach with a cumulative-effect adjustment to retained earnings. The Company does not expect the adoption of ASU 2016-16 to have a material impact on its financial statements. In November 2016, the FASB issued ASU No. 2016-18 Statement of Cash Flows (Topic 230): Restricted Cash (ASU 2016-18). ASU 2016-18 requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents and amounts generally described as restricted cash or restricted cash equivalents. As such, restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The Company is required to adopt ASU 2016-18 for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2017 on a retrospective basis. Early adoption is permitted, including adoption in an interim period. Subsequent to the adoption of ASU 2016-18, the change in restricted cash would be excluded from the change in cash flows from financing activities and included in the change in total cash, restricted cash and cash equivalents as reported in the statement of cash flows. In January 2017, the FASB issued ASU No. 2017-04 Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment (ASU 2017-04). ASU 2017-04 simplifies the subsequent measurement of goodwill by eliminating the requirement to calculate the implied fair value of goodwill. Rather, the goodwill impairment is calculated by comparing the fair value of a reporting unit to its carrying value, and an impairment loss is recognized for the amount by which the carrying amount exceeds the fair value, limited to the total goodwill allocated to the reporting unit. All reporting units apply the same impairment test under the new standard. The Company is required to adopt ASU 2017-04 for its annual and any interim goodwill impairment tests in fiscal years beginning after December 15, 2019 on a prospective basis. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. In March 2017, the FASB issued ASU No. 2017-07 Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost (ASU 2017-07). ASU 2017-07 amends ASC 715, Compensation - Retirement Benefits by requiring employers to present the service cost component of net periodic benefit cost in the same income statement line item as other employee compensation costs arising from services rendered during the period. Other components of the net periodic benefit cost will be presented separately from the line item that includes the service cost and outside of any subtotal of operating income. The guidance also limits the components that are eligible for capitalization in assets. The Company is required to adopt ASU 2017-07 for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2017. Early adoption is permitted as of the beginning of an annual period for which interim or annual financial statements have not been issued or made available for issuance. The amendments related to the presentation of the components of net periodic benefit cost should be applied retrospectively. The amendments related to the capitalization of certain components in assets should be applied prospectively. The Company's net periodic benefit cost components are disclosed in Note 13.

Additional Balance Sheet and 24

Additional Balance Sheet and Cash Flow Information (Tables)	6 Months Ended
	Jun. 25, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Marketable Securities	The Company’s marketable securities consisted of the following (in thousands): June 25, December 31, June 26, Available-for-sale securities: corporate bonds $ — $ 5,519 $ 5,070 Trading securities: mutual funds 44,156 38,119 37,651 Total marketable securities $ 44,156 $ 43,638 $ 42,721
Inventories Net	Inventories consisted of the following (in thousands): June 25, December 31, June 26, Components at the lower of FIFO cost or net realizable value Raw materials and work in process $ 117,199 $ 140,639 $ 134,702 Motorcycle finished goods 186,244 285,281 152,035 Parts and accessories and general merchandise 116,836 122,264 133,727 Inventory at lower of FIFO cost or net realizable value 420,279 548,184 420,464 Excess of FIFO over LIFO cost (48,267 ) (48,267 ) (49,268 ) Total inventories, net $ 372,012 $ 499,917 $ 371,196
Reconciliation of Net Cash Provided by Operating Activities	The reconciliation of net income to net cash provided by operating activities is as follows (in thousands): Six months ended June 25, June 26, Cash flows from operating activities: Net income $ 445,236 $ 530,920 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization of intangibles 107,578 100,956 Amortization of deferred loan origination costs 40,771 43,555 Amortization of financing origination fees 4,079 5,146 Provision for long-term employee benefits 14,950 19,005 Employee benefit plan contributions and payments (37,307 ) (35,189 ) Stock compensation expense 17,497 15,797 Net change in wholesale finance receivables related to sales (271,927 ) (442,254 ) Provision for credit losses 69,806 60,584 Gain on off-balance sheet asset-backed securitization — (9,269 ) Deferred income taxes 178 (3,548 ) Other, net (4,163 ) (20,508 ) Changes in current assets and liabilities: Accounts receivable, net (28,239 ) (55,109 ) Finance receivables - accrued interest and other 2,067 (125 ) Inventories 138,942 225,586 Accounts payable and accrued liabilities 133,120 53,790 Derivative instruments 3,114 (1,474 ) Other (8,634 ) (31,573 ) Total adjustments 181,832 (74,630 ) Net cash provided by operating activities $ 627,068 $ 456,290

Finance Receivables (Tables)

Finance Receivables (Tables)	6 Months Ended
	Jun. 25, 2017
Receivables [Abstract]
Finance Receivables	Finance receivables, net, consisted of the following (in thousands): June 25, December 31, June 26, Retail $ 6,267,211 $ 5,982,211 $ 6,020,750 Wholesale 1,258,852 1,026,590 1,422,648 Total finance receivables 7,526,063 7,008,801 7,443,398 Allowance for credit losses (193,528 ) (173,343 ) (161,353 ) Finance receivables, net $ 7,332,535 $ 6,835,458 $ 7,282,045
Changes in the Allowance for Credit Losses on Finance Receivables	Changes in the allowance for credit losses on finance receivables by portfolio were as follows (in thousands): Three months ended June 25, 2017 Retail Wholesale Total Balance, beginning of period $ 176,068 $ 7,962 $ 184,030 Provision for credit losses 26,550 (333 ) 26,217 Charge-offs (30,374 ) — (30,374 ) Recoveries 13,655 — 13,655 Balance, end of period $ 185,899 $ 7,629 $ 193,528 Three months ended June 26, 2016 Retail Wholesale Total Balance, beginning of period $ 146,727 $ 9,457 $ 156,184 Provision for credit losses 24,563 (1,102 ) 23,461 Charge-offs (26,460 ) — (26,460 ) Recoveries 11,459 — 11,459 Other (a) (3,291 ) — (3,291 ) Balance, end of period $ 152,998 $ 8,355 $ 161,353 Six months ended June 25, 2017 Retail Wholesale Total Balance, beginning of period $ 166,810 $ 6,533 $ 173,343 Provision for credit losses 68,710 1,096 69,806 Charge-offs (76,298 ) — (76,298 ) Recoveries 26,677 — 26,677 Balance, end of period $ 185,899 $ 7,629 $ 193,528 Six months ended June 26, 2016 Retail Wholesale Total Balance, beginning of period $ 139,320 $ 7,858 $ 147,178 Provision for credit losses 60,087 497 60,584 Charge-offs (66,104 ) — (66,104 ) Recoveries 22,986 — 22,986 Other (a) (3,291 ) — (3,291 ) Balance, end of period $ 152,998 $ 8,355 $ 161,353 (a) Related to the sale of finance receivables with a principal balance of $301.8 million through an off-balance sheet asset-backed securitization transaction (see Note 10 for additional information). The allowance for credit losses and finance receivables by portfolio, segregated by those amounts that are individually evaluated for impairment and those that are collectively evaluated for impairment, was as follows (in thousands): June 25, 2017 Retail Wholesale Total Allowance for credit losses, ending balance: Individually evaluated for impairment $ — $ — $ — Collectively evaluated for impairment 185,899 7,629 193,528 Total allowance for credit losses $ 185,899 $ 7,629 $ 193,528 Finance receivables, ending balance: Individually evaluated for impairment $ — $ — $ — Collectively evaluated for impairment 6,267,211 1,258,852 7,526,063 Total finance receivables $ 6,267,211 $ 1,258,852 $ 7,526,063 December 31, 2016 Retail Wholesale Total Allowance for credit losses, ending balance: Individually evaluated for impairment $ — $ — $ — Collectively evaluated for impairment 166,810 6,533 173,343 Total allowance for credit losses $ 166,810 $ 6,533 $ 173,343 Finance receivables, ending balance: Individually evaluated for impairment $ — $ — $ — Collectively evaluated for impairment 5,982,211 1,026,590 7,008,801 Total finance receivables $ 5,982,211 $ 1,026,590 $ 7,008,801 June 26, 2016 Retail Wholesale Total Allowance for credit losses, ending balance: Individually evaluated for impairment $ — $ — $ — Collectively evaluated for impairment 152,998 8,355 161,353 Total allowance for credit losses $ 152,998 $ 8,355 $ 161,353 Finance receivables, ending balance: Individually evaluated for impairment $ — $ — $ — Collectively evaluated for impairment 6,020,750 1,422,648 7,443,398 Total finance receivables $ 6,020,750 $ 1,422,648 $ 7,443,398
Aging of Past Due Finance Receivables Including Non-Accrual Status Finance Receivables	An analysis of the aging of past due finance receivables was as follows (in thousands): June 25, 2017 Current 31-60 Days Past Due 61-90 Days Past Due Greater than 90 Days Past Due Total Past Due Total Finance Receivables Retail $ 6,086,592 $ 118,616 $ 36,914 $ 25,089 $ 180,619 $ 6,267,211 Wholesale 1,257,301 281 142 1,128 1,551 1,258,852 Total $ 7,343,893 $ 118,897 $ 37,056 $ 26,217 $ 182,170 $ 7,526,063 December 31, 2016 Current 31-60 Days Past Due 61-90 Days Past Due Greater than 90 Days Past Due Total Past Due Total Finance Receivables Retail $ 5,760,818 $ 131,302 $ 49,642 $ 40,449 $ 221,393 $ 5,982,211 Wholesale 1,024,995 1,000 319 276 1,595 1,026,590 Total $ 6,785,813 $ 132,302 $ 49,961 $ 40,725 $ 222,988 $ 7,008,801 June 26, 2016 Current 31-60 Days Past Due 61-90 Days Past Due Greater than 90 Days Past Due Total Past Due Total Finance Receivables Retail $ 5,852,659 $ 108,192 $ 37,961 $ 21,938 $ 168,091 $ 6,020,750 Wholesale 1,421,846 457 153 192 802 1,422,648 Total $ 7,274,505 $ 108,649 $ 38,114 $ 22,130 $ 168,893 $ 7,443,398
Recorded Investment of Retail Finance Receivables by Credit Quality Indicator	The recorded investment in wholesale finance receivables, by internal credit quality indicator, was as follows (in thousands): June 25, 2017 December 31, 2016 June 26, 2016 Doubtful $ 5,203 $ 1,333 $ — Substandard 10,458 1,773 19,637 Special Mention 4,953 30,152 4,334 Medium Risk 8,115 14,620 6,350 Low Risk 1,230,123 978,712 1,392,327 Total $ 1,258,852 $ 1,026,590 $ 1,422,648 The recorded investment in retail finance receivables, by credit quality indicator, was as follows (in thousands): June 25, 2017 December 31, 2016 June 26, 2016 Prime $ 5,034,187 $ 4,768,420 $ 4,756,479 Sub-prime 1,233,024 1,213,791 1,264,271 Total $ 6,267,211 $ 5,982,211 $ 6,020,750

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 25, 2017
Fair Value Disclosures [Abstract]
Summary of Assets and Liabilities Measured At Fair Value On A Recurring Basis	The following tables present information about the Company’s assets and liabilities measured at fair value on a recurring basis (in thousands): June 25, 2017 Balance Quoted Prices in Significant Significant Assets: Cash equivalents $ 625,485 $ 375,550 $ 249,935 $ — Marketable securities 44,156 44,156 — — Derivatives 458 — 458 — Total $ 670,099 $ 419,706 $ 250,393 $ — Liabilities: Derivatives $ 4,865 $ — $ 4,865 $ — December 31, 2016 Balance Quoted Prices in Significant Significant Assets: Cash equivalents $ 531,519 $ 426,266 $ 105,253 $ — Marketable securities 43,638 38,119 5,519 — Derivatives 29,034 — 29,034 — Total $ 604,191 $ 464,385 $ 139,806 $ — Liabilities: Derivatives $ 142 $ — $ 142 $ — June 26, 2016 Balance Quoted Prices in Significant Significant Assets: Cash equivalents $ 549,426 $ 392,800 $ 156,626 $ — Marketable securities 42,721 37,651 5,070 — Derivatives 9,528 — 9,528 — Total $ 601,675 $ 430,451 $ 171,224 $ — Liabilities: Derivatives $ 1,605 $ — $ 1,605 $ —

Fair Value of Financial Instr27

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 25, 2017
Fair Value Disclosures [Abstract]
Summary of The Fair Value and Carrying Value of The Company's Financial Instruments	The following table summarizes the fair value and carrying value of the Company’s financial instruments (in thousands): June 25, 2017 December 31, 2016 June 26, 2016 Fair Value Carrying Value Fair Value Carrying Value Fair Value Carrying Value Assets: Cash and cash equivalents $ 988,476 $ 988,476 $ 759,984 $ 759,984 $ 864,670 $ 864,670 Marketable securities $ 44,156 $ 44,156 $ 43,638 $ 43,638 $ 42,721 $ 42,721 Derivatives $ 458 $ 458 $ 29,034 $ 29,034 $ 9,528 $ 9,528 Finance receivables, net $ 7,401,974 $ 7,332,535 $ 6,921,037 $ 6,835,458 $ 7,369,410 $ 7,282,045 Restricted cash $ 74,395 $ 74,395 $ 67,147 $ 67,147 $ 92,650 $ 92,650 Liabilities: Derivatives $ 4,865 $ 4,865 $ 142 $ 142 $ 1,605 $ 1,605 Unsecured commercial paper $ 928,445 $ 928,445 $ 1,055,708 $ 1,055,708 $ 1,020,487 $ 1,020,487 Asset-backed U.S. commercial paper conduit facilities $ 279,833 $ 279,833 $ — $ — $ — $ — Asset-backed Canadian commercial paper conduit facility $ 138,739 $ 138,739 $ 149,338 $ 149,338 $ 161,626 $ 161,626 Medium-term notes $ 4,623,146 $ 4,562,403 $ 4,139,462 $ 4,064,940 $ 4,239,390 $ 4,063,297 Senior unsecured notes $ 773,084 $ 741,633 $ 744,552 $ 741,306 $ 808,227 $ 740,982 Asset-backed securitization debt $ 521,956 $ 521,300 $ 797,688 $ 796,275 $ 1,080,416 $ 1,074,931

Derivative Instruments and He28

Derivative Instruments and Hedging Activities (Tables)	6 Months Ended
	Jun. 25, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instrument Fair Value	The following tables summarize the fair value of the Company’s derivative financial instruments (in thousands): June 25, 2017 December 31, 2016 June 26, 2016 Derivatives Designated As Hedging Instruments Under ASC Topic 815 Notional Value Asset Fair Value (a) Liability Fair Value (b) Notional Value Asset Fair Value (a) Liability Fair Value (b) Notional Value Asset Fair Value (a) Liability Fair Value (b) Foreign currency contracts (c) $ 544,601 $ 409 $ 4,622 $ 554,551 $ 28,528 $ 142 $ 542,788 $ 9,423 $ 1,358 Commodity contracts (c) 1,102 — 75 992 177 — 861 88 — Total $ 545,703 $ 409 $ 4,697 $ 555,543 $ 28,705 $ 142 $ 543,649 $ 9,511 $ 1,358 June 25, 2017 December 31, 2016 June 26, 2016 Derivatives Not Designated As Hedging Instruments Under ASC Topic 815 Notional Value Asset Fair Value (a) Liability Fair Value (b) Notional Value Asset Fair Value (a) Liability Fair Value (b) Notional Value Asset Fair Value (a) Liability Fair Value (b) Commodity contracts $ 4,336 $ 49 $ 168 $ 5,025 $ 329 $ — $ 4,298 $ 17 $ 247 Total $ 4,336 $ 49 $ 168 $ 5,025 $ 329 $ — $ 4,298 $ 17 $ 247 (a) Included in other current assets (b) Included in accrued liabilities (c) Derivative designated as a cash flow hedge
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)	The following tables summarize the amount of gains and losses related to derivative financial instruments designated as cash flow hedges (in thousands): Amount of Gain/(Loss) Recognized in OCI, before tax Three months ended Six months ended Cash Flow Hedges June 25, June 26, June 25, June 26, Foreign currency contracts $ (11,851 ) $ 8,017 $ (23,648 ) $ (4,507 ) Commodity contracts (80 ) 119 (186 ) (73 ) Treasury rate locks (719 ) — (719 ) — Total $ (12,650 ) $ 8,136 $ (24,553 ) $ (4,580 ) Amount of Gain/(Loss) Reclassified from AOCL into Income Three months ended Six months ended Expected to be Reclassified Cash Flow Hedges June 25, June 26, June 25, June 26, Over the Next Twelve Months Foreign currency contracts (a) $ 3,957 $ 3,551 $ 6,473 $ 4,407 $ (3,538 ) Commodity contracts (a) 17 (104 ) 65 (319 ) (75 ) Treasury rate locks (b) (99 ) (90 ) (189 ) (181 ) (506 ) Total $ 3,875 $ 3,357 $ 6,349 $ 3,907 $ (4,119 ) (a) Gain/(loss) reclassified from accumulated other comprehensive loss (AOCL) to income is included in cost of goods sold (b) Gain/(loss) reclassified from AOCL to income is included in interest expense
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location	The following table summarizes the amount of gains and losses related to derivative financial instruments not designated as hedging instruments (in thousands): Amount of Gain/(Loss) Recognized in Income on Derivative Three months ended Six months ended Derivatives Not Designated As Hedges June 25, June 26, June 25, June 26, Commodity contracts (a) $ (193 ) $ 67 $ (173 ) $ (224 ) Total $ (193 ) $ 67 $ (173 ) $ (224 ) (a) Gain/(loss) recognized in income is included in cost of goods sold

Accumulated Other Comprehensi29

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Jun. 25, 2017
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Loss	The following tables set forth the changes in accumulated other comprehensive loss (AOCL) (in thousands): Three months ended June 25, 2017 Foreign currency translation adjustments Marketable securities Derivative financial instruments Pension and postretirement benefit plans Total Balance, beginning of period $ (52,575 ) $ (1,204 ) $ 3,472 $ (501,323 ) $ (551,630 ) Other comprehensive income (loss) before reclassifications 9,447 1,912 (12,650 ) — (1,291 ) Income tax expense (benefit) 190 (708 ) 4,678 — 4,160 Net other comprehensive income (loss) before reclassifications 9,637 1,204 (7,972 ) — 2,869 Reclassifications: Realized (gains) losses - foreign currency contracts (a) — — (3,957 ) — (3,957 ) Realized (gains) losses - commodities contracts (a) — — (17 ) — (17 ) Realized (gains) losses - treasury rate lock (b) — — 99 — 99 Prior service credits (c) — — — (289 ) (289 ) Actuarial losses (c) — — — 11,813 11,813 Total reclassifications before tax — — (3,875 ) 11,524 7,649 Income tax expense (benefit) — — 1,435 (4,268 ) (2,833 ) Net reclassifications — — (2,440 ) 7,256 4,816 Other comprehensive income (loss) 9,637 1,204 (10,412 ) 7,256 7,685 Balance, end of period $ (42,938 ) $ — $ (6,940 ) $ (494,067 ) $ (543,945 ) Three months ended June 26, 2016 Foreign currency translation adjustments Marketable securities Derivative financial instruments Pension and postretirement benefit plans Total Balance, beginning of period $ (46,151 ) $ (1,139 ) $ (2,466 ) $ (553,582 ) $ (603,338 ) Other comprehensive income (loss) before reclassifications 2,516 (51 ) 8,136 — 10,601 Income tax expense (benefit) 112 19 (3,014 ) — (2,883 ) Net other comprehensive income (loss) before reclassifications 2,628 (32 ) 5,122 — 7,718 Reclassifications: Realized (gains) losses - foreign currency contracts (a) — — (3,551 ) — (3,551 ) Realized (gains) losses - commodities contracts (a) — — 104 — 104 Realized (gains) losses - treasury rate lock (b) — — 90 — 90 Prior service credits (c) — — — (446 ) (446 ) Actuarial losses (c) — — — 12,472 12,472 Total reclassifications before tax — — (3,357 ) 12,026 8,669 Income tax expense (benefit) — — 1,244 (4,454 ) (3,210 ) Net reclassifications — — (2,113 ) 7,572 5,459 Other comprehensive income (loss) 2,628 (32 ) 3,009 7,572 13,177 Balance, end of period $ (43,523 ) $ (1,171 ) $ 543 $ (546,010 ) $ (590,161 ) Six months ended June 25, 2017 Foreign currency translation adjustments Marketable securities Derivative financial instruments Pension and postretirement benefit plans Total Balance, beginning of period $ (68,132 ) $ (1,194 ) $ 12,524 $ (508,579 ) $ (565,381 ) Other comprehensive income (loss) before reclassifications 25,080 1,896 (24,553 ) — 2,423 Income tax expense (benefit) 114 (702 ) 9,087 — 8,499 Net other comprehensive income (loss) before reclassifications 25,194 1,194 (15,466 ) — 10,922 Reclassifications: Realized (gains) losses - foreign currency contracts (a) — — (6,473 ) — (6,473 ) Realized (gains) losses - commodities contracts (a) — — (65 ) — (65 ) Realized (gains) losses - treasury rate lock (b) — — 189 — 189 Prior service credits (c) — — — (578 ) (578 ) Actuarial losses (c) — — — 23,626 23,626 Total reclassifications before tax — — (6,349 ) 23,048 16,699 Income tax expense (benefit) — — 2,351 (8,536 ) (6,185 ) Net reclassifications — — (3,998 ) 14,512 10,514 Other comprehensive income (loss) 25,194 1,194 (19,464 ) 14,512 21,436 Balance, end of period $ (42,938 ) $ — $ (6,940 ) $ (494,067 ) $ (543,945 ) Six months ended June 26, 2016 Foreign currency translation adjustments Marketable securities Derivative financial instruments Pension and postretirement benefit plans Total Balance, beginning of period $ (58,844 ) $ (1,094 ) $ 5,886 $ (561,153 ) $ (615,205 ) Other comprehensive income (loss) before reclassifications 17,087 (122 ) (4,580 ) — 12,385 Income tax (benefit) expense (1,766 ) 45 1,696 — (25 ) Net other comprehensive income (loss) before reclassifications 15,321 (77 ) (2,884 ) — 12,360 Reclassifications: Realized (gains) losses - foreign currency contracts (a) — — (4,407 ) — (4,407 ) Realized (gains) losses - commodities contracts (a) — — 319 — 319 Realized (gains) losses - treasury rate lock (b) — — 181 — 181 Prior service credits (c) — — — (892 ) (892 ) Actuarial losses (c) — — — 24,944 24,944 Total reclassifications before tax — — (3,907 ) 24,052 20,145 Income tax expense (benefit) — — 1,448 (8,909 ) (7,461 ) Net reclassifications — — (2,459 ) 15,143 12,684 Other comprehensive income (loss) 15,321 (77 ) (5,343 ) 15,143 25,044 Balance, end of period $ (43,523 ) $ (1,171 ) $ 543 $ (546,010 ) $ (590,161 ) (a) Amounts reclassified to net income are included in Motorcycles and Related Products cost of goods sold. (b) Amounts reclassified to net income are included in interest expense. (c) Amounts reclassified are included in the computation of net periodic benefit cost. See Note 13 for information related to pension and postretirement benefit plans.

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 25, 2017
Debt Disclosure [Abstract]
Schedule of Short-term Debt	Debt with a contractual term of one year or less is generally classified as short-term debt and consisted of the following (in thousands): June 25, December 31, June 26, Unsecured commercial paper $ 928,445 $ 1,055,708 $ 1,020,487 Total short-term debt $ 928,445 $ 1,055,708 $ 1,020,487
Schedule of Long-term Debt Instruments	Debt with a contractual term greater than one year is generally classified as long-term debt and consisted of the following (in thousands): June 25, December 31, June 26, Secured debt (Note 10) Asset-backed Canadian commercial paper conduit facility $ 138,739 $ 149,338 $ 161,626 Asset-backed U.S. commercial paper conduit facilities 279,833 — — Asset-backed securitization debt 522,095 797,755 1,077,317 Less: unamortized discount and debt issuance costs (795 ) (1,480 ) (2,386 ) Total secured debt 939,872 945,613 1,236,557 Unsecured notes 2.70% Medium-term notes due in 2017 par value, issued January 2012 — 400,000 400,000 1.55% Medium-term notes due in 2017 par value, issued November 2014 400,000 400,000 400,000 6.80% Medium-term notes due in 2018 par value, issued May 2008 877,488 877,488 878,708 2.25% Medium-term notes due in 2019 par value, issued January 2016 600,000 600,000 600,000 Floating-rate Medium-term notes due in 2019 par value, issued March 2017 150,000 — — 2.40% Medium-term notes due in 2019 par value, issued September 2014 600,000 600,000 600,000 2.15% Medium-term notes due in 2020 par value, issued February 2015 600,000 600,000 600,000 2.40% Medium-term notes due in 2020 par value, issued March 2017 350,000 — — 2.85% Medium-term notes due in 2021 par value, issued January 2016 600,000 600,000 600,000 2.55% Medium-term notes due in 2022 par value, issued June 2017 400,000 — — 3.50% Senior unsecured notes due in 2025 par value, issued July 2015 450,000 450,000 450,000 4.625% Senior unsecured notes due in 2045 par value, issued July 2015 300,000 300,000 300,000 Less: unamortized discount and debt issuance costs (23,452 ) (21,242 ) (24,429 ) Gross long-term debt 6,243,908 5,751,859 6,040,836 Less: current portion of long-term debt, net of unamortized discount and debt issuance costs (1,565,558 ) (1,084,884 ) (732,773 ) Total long-term debt $ 4,678,350 $ 4,666,975 $ 5,308,063

Asset-Backed Financing (Tables)

Asset-Backed Financing (Tables)	6 Months Ended
	Jun. 25, 2017
Transfers and Servicing [Abstract]
Assets and Liabilities Related to the On-Balance Sheet Financing	The following tables show the assets and liabilities related to the on-balance sheet asset-backed financings included in the financial statements (in thousands): June 25, 2017 Finance receivables Allowance for credit losses Restricted cash Other assets Total assets Asset-backed debt On-balance sheet assets and liabilities Consolidated VIEs Asset-backed securitizations $ 599,754 $ (18,291 ) $ 47,980 $ 1,360 $ 630,803 $ 521,300 Asset-backed U.S. commercial paper conduit facilities 298,700 (9,132 ) 14,993 810 305,371 279,833 Unconsolidated VIEs Asset-backed Canadian commercial paper conduit facility 152,248 (2,911 ) 11,422 203 160,962 138,739 Total on-balance sheet assets and liabilities $ 1,050,702 $ (30,334 ) $ 74,395 $ 2,373 $ 1,097,136 $ 939,872 December 31, 2016 Finance receivables Allowance for credit losses Restricted cash Other assets Total assets Asset-backed debt On-balance sheet assets and liabilities Consolidated VIEs Asset-backed securitizations $ 893,804 $ (25,468 ) $ 57,057 $ 2,452 $ 927,845 $ 796,275 Asset-backed U.S. commercial paper conduit facilities — — — 329 329 — Unconsolidated VIEs Asset-backed Canadian commercial paper conduit facility 165,719 (3,573 ) 10,090 426 172,662 149,338 Total on-balance sheet assets and liabilities $ 1,059,523 $ (29,041 ) $ 67,147 $ 3,207 $ 1,100,836 $ 945,613 June 26, 2016 Finance receivables Allowance for credit losses Restricted cash Other assets Total assets Asset-backed debt On-balance sheet assets and liabilities Consolidated VIEs Asset-backed securitizations $ 1,173,527 $ (30,431 ) $ 79,475 $ 2,825 $ 1,225,396 $ 1,074,931 Asset-backed U.S. commercial paper conduit facilities — — — 222 222 — Unconsolidated VIEs Asset-backed Canadian commercial paper conduit facility 177,360 (3,620 ) 13,175 332 187,247 161,626 Total on-balance sheet assets and liabilities $ 1,350,887 $ (34,051 ) $ 92,650 $ 3,379 $ 1,412,865 $ 1,236,557
Transfers of Canadian Retail Motorcycle Finance Receivable	The following table includes quarterly transfers of Canadian retail motorcycle finance receivables to the Canadian Conduit and the respective proceeds (in thousands): 2017 2016 Transfers Proceeds Transfers Proceeds First quarter $ 6,300 $ 5,500 $ 6,600 $ 5,800 Second quarter 14,200 12,400 31,400 27,500 $ 20,500 $ 17,900 $ 38,000 $ 33,300
Schedule of Servicing Activities	The unpaid principal balance of retail motorcycle finance receivables serviced by the Company was as follows (in thousands): June 25, December 31, June 26, On-balance sheet retail motorcycle finance receivables $ 6,121,372 $ 5,839,467 $ 5,872,668 Off-balance sheet retail motorcycle finance receivables 187,769 236,706 292,176 Total serviced retail motorcycle finance receivables $ 6,309,141 $ 6,076,173 $ 6,164,844 The unpaid principal balance of retail motorcycle finance receivables serviced by the Company 30 days or more delinquent was as follows (in thousands): Amount 30 days or more past due: June 25, December 31, June 26, On-balance sheet retail motorcycle finance receivables $ 180,619 $ 221,393 $ 168,091 Off-balance sheet retail motorcycle finance receivables 1,659 1,858 460 Total serviced retail motorcycle finance receivables $ 182,278 $ 223,251 $ 168,551 Credit losses, net of recoveries for the retail motorcycle finance receivables serviced by the Company were as follows (in thousands): Three months ended Six months ended June 25, June 26, June 25, June 26, On-balance sheet retail motorcycle finance receivables $ 16,719 $ 15,001 $ 49,621 $ 43,118 Off-balance sheet retail motorcycle finance receivables 152 15 566 15 Total serviced retail motorcycle finance receivables $ 16,871 $ 15,016 $ 50,187 $ 43,133

Product Warranty and Safety R32

Product Warranty and Safety Recall Campaigns (Tables)	6 Months Ended
	Jun. 25, 2017
Product Warranties Disclosures [Abstract]
Warranty and Safety Recall Liability	Changes in the Company’s warranty and recall liability were as follows (in thousands): Three months ended Six months ended June 25, June 26, June 25, June 26, Balance, beginning of period $ 78,211 $ 74,836 $ 79,482 $ 74,217 Warranties issued during the period 18,084 20,202 34,836 38,214 Settlements made during the period (21,200 ) (22,679 ) (40,533 ) (40,842 ) Recalls and changes to pre-existing warranty liabilities 5,586 10,121 6,896 10,891 Balance, end of period $ 80,681 $ 82,480 $ 80,681 $ 82,480

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 25, 2017
Earnings Per Share [Abstract]
Reconciliation of Earnings Per Share Basic and Diluted	The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share amounts): Three months ended Six months ended June 25, June 26, June 25, June 26, Numerator : Net income used in computing basic and diluted earnings per share $ 258,867 $ 280,431 $ 445,236 $ 530,920 Denominator : Denominator for basic earnings per share - weighted-average common shares 174,409 180,587 175,178 181,976 Effect of dilutive securities - employee stock compensation plan 915 752 992 764 Denominator for diluted earnings per share - adjusted weighted-average shares outstanding 175,324 181,339 176,170 182,740 Earnings per common share: Basic $ 1.48 $ 1.55 $ 2.54 $ 2.92 Diluted $ 1.48 $ 1.55 $ 2.53 $ 2.91

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	6 Months Ended
	Jun. 25, 2017
Compensation and Retirement Disclosure [Abstract]
Components of Net Periodic Benefit Costs	Components of net periodic benefit costs were as follows (in thousands): Three months ended Six months ended June 25, June 26, June 25, June 26, Pension and SERPA Benefits Service cost $ 7,896 $ 8,359 $ 15,792 $ 16,718 Interest cost 21,269 22,707 42,538 45,414 Expected return on plan assets (35,345 ) (36,445 ) (70,690 ) (72,890 ) Amortization of unrecognized: Prior service cost 254 255 508 510 Net loss 10,998 11,588 21,996 23,176 Settlement loss — 300 — 600 Net periodic benefit cost $ 5,072 $ 6,764 $ 10,144 $ 13,528 Postretirement Healthcare Benefits Service cost $ 1,875 $ 1,870 $ 3,750 $ 3,740 Interest cost 3,412 3,704 6,824 7,408 Expected return on plan assets (3,156 ) (3,017 ) (6,312 ) (6,034 ) Amortization of unrecognized: Prior service credit (543 ) (701 ) (1,086 ) (1,402 ) Net loss 815 884 1,630 1,768 Net periodic benefit cost $ 2,403 $ 2,740 $ 4,806 $ 5,480

Business Segments (Tables)

Business Segments (Tables)	6 Months Ended
	Jun. 25, 2017
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Selected segment information is set forth below (in thousands): Three months ended Six months ended June 25, June 26, June 25, June 26, Motorcycles net revenue $ 1,577,135 $ 1,670,113 $ 2,905,846 $ 3,246,723 Gross profit 575,623 607,558 1,053,108 1,197,838 Selling, administrative and engineering expense 255,976 284,809 494,619 542,632 Operating income from Motorcycles 319,647 322,749 558,489 655,206 Financial Services revenue 188,034 190,964 361,255 364,322 Financial Services expense 106,099 101,391 226,684 218,378 Operating income from Financial Services 81,935 89,573 134,571 145,944 Operating income $ 401,582 $ 412,322 $ 693,060 $ 801,150

Supplemental Consolidating Da36

Supplemental Consolidating Data (Tables)	6 Months Ended
	Jun. 25, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Operations	Three months ended June 25, 2017 HDMC Entities HDFS Entities Eliminations Consolidated Revenue: Motorcycles and Related Products $ 1,580,109 $ — $ (2,974 ) $ 1,577,135 Financial Services — 188,712 (678 ) 188,034 Total revenue 1,580,109 188,712 (3,652 ) 1,765,169 Costs and expenses: Motorcycles and Related Products cost of goods sold 1,001,512 — — 1,001,512 Financial Services interest expense — 44,408 — 44,408 Financial Services provision for credit losses — 26,217 — 26,217 Selling, administrative and engineering expense 256,513 38,448 (3,511 ) 291,450 Total costs and expenses 1,258,025 109,073 (3,511 ) 1,363,587 Operating income 322,084 79,639 (141 ) 401,582 Investment income 577 — — 577 Interest expense 7,726 — — 7,726 Income before provision for income taxes 314,935 79,639 (141 ) 394,433 Provision for income taxes 106,035 29,531 — 135,566 Net income $ 208,900 $ 50,108 $ (141 ) $ 258,867 Six months ended June 25, 2017 HDMC Entities HDFS Entities Eliminations Consolidated Revenue: Motorcycles and Related Products $ 2,910,727 $ — $ (4,881 ) $ 2,905,846 Financial Services — 362,269 (1,014 ) 361,255 Total revenue 2,910,727 362,269 (5,895 ) 3,267,101 Costs and expenses: Motorcycles and Related Products cost of goods sold 1,852,738 — — 1,852,738 Financial Services interest expense — 87,697 — 87,697 Financial Services provision for credit losses — 69,806 — 69,806 Selling, administrative and engineering expense 495,509 74,062 (5,771 ) 563,800 Total costs and expenses 2,348,247 231,565 (5,771 ) 2,574,041 Operating income 562,480 130,704 (124 ) 693,060 Investment income 107,456 — (106,000 ) 1,456 Interest expense 15,399 — — 15,399 Income before provision for income taxes 654,537 130,704 (106,124 ) 679,117 Provision for income taxes 185,192 48,689 — 233,881 Net income $ 469,345 $ 82,015 $ (106,124 ) $ 445,236 Three months ended June 26, 2016 HDMC Entities HDFS Entities Eliminations Consolidated Revenue: Motorcycles and Related Products $ 1,673,379 $ — $ (3,266 ) $ 1,670,113 Financial Services — 191,935 (971 ) 190,964 Total revenue 1,673,379 191,935 (4,237 ) 1,861,077 Costs and expenses: Motorcycles and Related Products cost of goods sold 1,062,555 — — 1,062,555 Financial Services interest expense — 42,895 — 42,895 Financial Services provision for credit losses — 23,461 — 23,461 Selling, administrative and engineering expense 285,367 38,301 (3,824 ) 319,844 Total costs and expenses 1,347,922 104,657 (3,824 ) 1,448,755 Operating income 325,457 87,278 (413 ) 412,322 Investment income 43,688 — (43,000 ) 688 Interest expense 7,094 — — 7,094 Income before provision for income taxes 362,051 87,278 (43,413 ) 405,916 Provision for income taxes 93,788 31,697 — 125,485 Net income $ 268,263 $ 55,581 $ (43,413 ) $ 280,431 Six months ended June 26, 2016 HDMC Entities HDFS Entities Eliminations Consolidated Revenue: Motorcycles and Related Products $ 3,252,018 $ — $ (5,295 ) $ 3,246,723 Financial Services — 365,456 (1,134 ) 364,322 Total revenue 3,252,018 365,456 (6,429 ) 3,611,045 Costs and expenses: Motorcycles and Related Products cost of goods sold 2,048,885 — — 2,048,885 Financial Services interest expense — 88,814 — 88,814 Financial Services provision for credit losses — 60,584 — 60,584 Selling, administrative and engineering expense 543,598 74,275 (6,261 ) 611,612 Total costs and expenses 2,592,483 223,673 (6,261 ) 2,809,895 Operating income 659,535 141,783 (168 ) 801,150 Investment income 184,454 — (183,000 ) 1,454 Interest expense 14,262 — — 14,262 Income before provision for income taxes 829,727 141,783 (183,168 ) 788,342 Provision for income taxes 204,361 53,061 — 257,422 Net income $ 625,366 $ 88,722 $ (183,168 ) $ 530,920
Balance Sheet	June 25, 2017 HDMC Entities HDFS Entities Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ 586,892 $ 401,584 $ — $ 988,476 Accounts receivable, net 709,343 — (378,410 ) 330,933 Finance receivables, net — 2,338,533 — 2,338,533 Inventories 372,012 — — 372,012 Restricted cash — 63,225 — 63,225 Other current assets 108,162 43,261 — 151,423 Total current assets 1,776,409 2,846,603 (378,410 ) 4,244,602 Finance receivables, net — 4,994,002 — 4,994,002 Property, plant and equipment, net 905,244 41,082 — 946,326 Goodwill 54,630 — — 54,630 Deferred income taxes 100,949 71,108 (1,699 ) 170,358 Other long-term assets 139,742 22,740 (84,629 ) 77,853 $ 2,976,974 $ 7,975,535 $ (464,738 ) $ 10,487,771 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable $ 298,372 $ 407,384 $ (378,410 ) $ 327,346 Accrued liabilities 441,102 92,217 93 533,412 Short-term debt — 928,445 — 928,445 Current portion of long-term debt, net — 1,565,558 — 1,565,558 Total current liabilities 739,474 2,993,604 (378,317 ) 3,354,761 Long-term debt, net 741,633 3,936,717 — 4,678,350 Pension liability 51,797 — — 51,797 Postretirement healthcare liability 166,023 — — 166,023 Other long-term liabilities 155,086 32,714 2,873 190,673 Commitments and contingencies (Note 15) Shareholders’ equity 1,122,961 1,012,500 (89,294 ) 2,046,167 $ 2,976,974 $ 7,975,535 $ (464,738 ) $ 10,487,771 December 31, 2016 HDMC Entities HDFS Entities Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ 425,540 $ 334,444 $ — $ 759,984 Marketable securities 5,019 500 — 5,519 Accounts receivable, net 450,186 — (165,080 ) 285,106 Finance receivables, net — 2,076,261 — 2,076,261 Inventories 499,917 — — 499,917 Restricted cash — 52,574 — 52,574 Other current assets 127,606 46,934 (49 ) 174,491 Total current assets 1,508,268 2,510,713 (165,129 ) 3,853,852 Finance receivables, net — 4,759,197 — 4,759,197 Property, plant and equipment, net 942,634 38,959 — 981,593 Goodwill 53,391 — — 53,391 Deferred income taxes 103,487 66,152 (1,910 ) 167,729 Other long-term assets 132,835 24,769 (83,126 ) 74,478 $ 2,740,615 $ 7,399,790 $ (250,165 ) $ 9,890,240 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable $ 219,353 $ 181,045 $ (165,080 ) $ 235,318 Accrued liabilities 395,907 90,910 (165 ) 486,652 Short-term debt — 1,055,708 — 1,055,708 Current portion of long-term debt, net — 1,084,884 — 1,084,884 Total current liabilities 615,260 2,412,547 (165,245 ) 2,862,562 Long-term debt, net 741,306 3,925,669 — 4,666,975 Pension liability 84,442 — — 84,442 Postretirement healthcare liability 173,267 — — 173,267 Other long-term liabilities 150,391 29,697 2,748 182,836 Commitments and contingencies (Note 15) Shareholders’ equity 975,949 1,031,877 (87,668 ) 1,920,158 $ 2,740,615 $ 7,399,790 $ (250,165 ) $ 9,890,240 June 26, 2016 HDMC Entities HDFS Entities Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ 445,662 $ 419,008 $ — $ 864,670 Marketable securities 5,070 — — 5,070 Accounts receivable, net 816,439 — (504,483 ) 311,956 Finance receivables, net — 2,457,974 — 2,457,974 Inventories 371,196 — — 371,196 Restricted cash — 78,078 — 78,078 Deferred income taxes 60,497 55,717 — 116,214 Other current assets 124,923 38,203 (9,260 ) 153,866 Total current assets 1,823,787 3,048,980 (513,743 ) 4,359,024 Finance receivables, net — 4,824,071 — 4,824,071 Property, plant and equipment, net 916,388 34,921 — 951,309 Goodwill 54,542 — — 54,542 Deferred income taxes 76,194 8,555 (1,702 ) 83,047 Other long-term assets 133,540 24,744 (81,837 ) 76,447 $ 3,004,451 $ 7,941,271 $ (597,282 ) $ 10,348,440 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable $ 239,380 $ 538,799 $ (504,483 ) $ 273,696 Accrued liabilities 397,645 97,150 (8,984 ) 485,811 Short-term debt — 1,020,487 — 1,020,487 Current portion of long-term debt, net — 732,773 — 732,773 Total current liabilities 637,025 2,389,209 (513,467 ) 2,512,767 Long-term debt, net 740,982 4,567,081 — 5,308,063 Pension liability 129,465 — — 129,465 Postretirement healthcare liability 188,846 — — 188,846 Other long-term liabilities 157,835 27,621 2,836 188,292 Commitments and contingencies (Note 15) Shareholders’ equity 1,150,298 957,360 (86,651 ) 2,021,007 $ 3,004,451 $ 7,941,271 $ (597,282 ) $ 10,348,440
Cash Flows	Six months ended June 25, 2017 HDMC Entities HDFS Entities Eliminations Consolidated Cash flows from operating activities: Net income $ 469,345 $ 82,015 $ (106,124 ) $ 445,236 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization of intangibles 104,157 3,421 — 107,578 Amortization of deferred loan origination costs — 40,771 — 40,771 Amortization of financing origination fees 327 3,752 — 4,079 Provision for long-term employee benefits 14,950 — — 14,950 Employee benefit plan contributions and payments (37,307 ) — — (37,307 ) Stock compensation expense 15,995 1,502 — 17,497 Net change in wholesale finance receivables related to sales — — (271,927 ) (271,927 ) Provision for credit losses — 69,806 — 69,806 Deferred income taxes 4,975 (4,586 ) (211 ) 178 Other, net (6,422 ) 2,134 125 (4,163 ) Changes in current assets and liabilities: Accounts receivable, net (241,569 ) — 213,330 (28,239 ) Finance receivables - accrued interest and other — 2,067 — 2,067 Inventories 138,942 — — 138,942 Accounts payable and accrued liabilities 112,916 228,247 (208,043 ) 133,120 Derivative instruments 3,106 8 — 3,114 Other (8,683 ) 98 (49 ) (8,634 ) Total adjustments 101,387 347,220 (266,775 ) 181,832 Net cash provided by operating activities 570,732 429,235 (372,899 ) 627,068 Six months ended June 25, 2017 HDMC Entities HDFS Entities Eliminations Consolidated Cash flows from investing activities: Capital expenditures (64,273 ) (5,543 ) — (69,816 ) Origination of finance receivables — (4,205,868 ) 2,228,029 (1,977,839 ) Collections on finance receivables — 3,608,929 (1,961,130 ) 1,647,799 Sales and redemptions of marketable securities 6,916 — — 6,916 Other 115 — — 115 Net cash used by investing activities (57,242 ) (602,482 ) 266,899 (392,825 ) Cash flows from financing activities: Proceeds from issuance of medium-term notes — 893,668 — 893,668 Repayments of medium-term notes — (400,000 ) — (400,000 ) Repayments of securitization debt — (275,659 ) — (275,659 ) Borrowings of asset-backed commercial paper — 341,625 — 341,625 Repayments of asset-backed commercial paper — (77,732 ) — (77,732 ) Net decrease in credit facilities and unsecured commercial paper — (128,787 ) — (128,787 ) Net change in restricted cash — (7,248 ) — (7,248 ) Dividends paid (128,452 ) (106,000 ) 106,000 (128,452 ) Purchase of common stock for treasury (243,055 ) — — (243,055 ) Issuance of common stock under employee stock option plans 7,432 — — 7,432 Net cash (used by) provided by financing activities (364,075 ) 239,867 106,000 (18,208 ) Effect of exchange rate changes on cash and cash equivalents 11,937 520 — 12,457 Net increase in cash and cash equivalents $ 161,352 $ 67,140 $ — $ 228,492 Cash and cash equivalents: Cash and cash equivalents—beginning of period $ 425,540 $ 334,444 $ — $ 759,984 Net increase in cash and cash equivalents 161,352 67,140 — 228,492 Cash and cash equivalents—end of period $ 586,892 $ 401,584 $ — $ 988,476 Six months ended June 26, 2016 HDMC Entities HDFS Entities Eliminations Consolidated Cash flows from operating activities: Net income $ 625,366 $ 88,722 $ (183,168 ) $ 530,920 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization of intangibles 97,025 3,931 — 100,956 Amortization of deferred loan origination costs — 43,555 — 43,555 Amortization of financing origination fees 330 4,816 — 5,146 Provision for long-term employee benefits 19,005 — — 19,005 Employee benefit plan contributions and payments (35,189 ) — — (35,189 ) Stock compensation expense 14,562 1,235 — 15,797 Net change in wholesale finance receivables related to sales — — (442,254 ) (442,254 ) Provision for credit losses — 60,584 — 60,584 Gain on off-balance sheet asset-backed securitization — (9,269 ) — (9,269 ) Deferred income taxes 798 (3,906 ) (440 ) (3,548 ) Other, net (20,505 ) (171 ) 168 (20,508 ) Changes in current assets and liabilities: Accounts receivable, net (416,198 ) — 361,089 (55,109 ) Finance receivables - accrued interest and other — (125 ) — (125 ) Inventories 225,586 — — 225,586 Accounts payable and accrued liabilities 23,420 385,992 (355,622 ) 53,790 Derivative instruments (1,474 ) — — (1,474 ) Other (33,237 ) 1,664 — (31,573 ) Total adjustments (125,877 ) 488,306 (437,059 ) (74,630 ) Net cash provided by operating activities 499,489 577,028 (620,227 ) 456,290 Six months ended June 26, 2016 HDMC Entities HDFS Entities Eliminations Consolidated Cash flows from investing activities: Capital expenditures (104,125 ) (3,406 ) — (107,531 ) Origination of finance receivables — (4,507,717 ) 2,516,333 (1,991,384 ) Collections on finance receivables — 3,709,319 (2,079,106 ) 1,630,213 Proceeds from finance receivables sold — 312,571 — 312,571 Sales and redemptions of marketable securities 40,000 — — 40,000 Other 166 — — 166 Net cash used by investing activities (63,959 ) (489,233 ) 437,227 (115,965 ) Cash flows from financing activities: Proceeds from issuance of medium-term notes — 1,193,396 — 1,193,396 Repayments of medium-term notes — (450,000 ) — (450,000 ) Repayments of securitization debt — (385,837 ) — (385,837 ) Borrowings of asset-backed commercial paper — 33,428 — 33,428 Repayments of asset-backed commercial paper — (34,989 ) — (34,989 ) Net decrease in credit facilities and unsecured commercial paper — (181,259 ) — (181,259 ) Net change in restricted cash — 17,992 — 17,992 Dividends paid (127,800 ) (183,000 ) 183,000 (127,800 ) Purchase of common stock for treasury (269,411 ) — — (269,411 ) Excess tax benefits from share-based payments 331 — — 331 Issuance of common stock under employee stock option plans 2,367 — — 2,367 Net cash (used by) provided by financing activities (394,513 ) 9,731 183,000 (201,782 ) Effect of exchange rate changes on cash and cash equivalents 4,202 (284 ) — 3,918 Net increase in cash and cash equivalents $ 45,219 $ 97,242 $ — $ 142,461 Cash and cash equivalents: Cash and cash equivalents—beginning of period $ 400,443 $ 321,766 $ — $ 722,209 Net increase in cash and cash equivalents 45,219 97,242 — 142,461 Cash and cash equivalents—end of period $ 445,662 $ 419,008 $ — $ 864,670

Basis of Presentation and Use37

Basis of Presentation and Use of Estimates (Narrative) (Detail)	6 Months Ended
	Jun. 25, 2017segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	2

Additional Balance Sheet and 38

Additional Balance Sheet and Cash Flow Information (Narrative) (Detail) - USD ($) $ in Thousands	Jun. 25, 2017	Dec. 31, 2016	Jun. 26, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Available-for-sale securities: corporate bonds	$ 0	$ 5,519	$ 5,070

Additional Balance Sheet and 39

Additional Balance Sheet and Cash Flow Information (Marketable Securities) (Detail) - USD ($) $ in Thousands	Jun. 25, 2017	Dec. 31, 2016	Jun. 26, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Available-for-sale securities: corporate bonds	$ 0	$ 5,519	$ 5,070
Trading securities: mutual funds	44,156	38,119	37,651
Marketable Securities	$ 44,156	$ 43,638	$ 42,721

Additional Balance Sheet and 40

Additional Balance Sheet and Cash Flow Information (Inventories, Net) (Detail) - USD ($) $ in Thousands	Jun. 25, 2017	Dec. 31, 2016	Jun. 26, 2016
Inventory [Line Items]
Raw materials and work in process	$ 117,199	$ 140,639	$ 134,702
Inventory at lower of FIFO cost or net realizable value	420,279	548,184	420,464
Excess of FIFO over LIFO cost	(48,267)	(48,267)	(49,268)
Inventories, net	372,012	499,917	371,196
Motorcycles
Inventory [Line Items]
Finished goods	186,244	285,281	152,035
Parts and Accessories and General Merchandise
Inventory [Line Items]
Finished goods	$ 116,836	$ 122,264	$ 133,727

Additional Balance Sheet and 41

Additional Balance Sheet and Cash Flow Information (Reconciliation Of Net Income To Net Cash Used By Operating Activities) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2017	Jun. 26, 2016	Jun. 25, 2017	Jun. 26, 2016
Cash flows from operating activities:
Net income	$ 258,867	$ 280,431	$ 445,236	$ 530,920
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of intangibles			107,578	100,956
Amortization of deferred loan origination costs			40,771	43,555
Amortization of financing origination fees			4,079	5,146
Pension and Other Postretirement Benefit Expense			14,950	19,005
Employee benefit plan contributions and payments			(37,307)	(35,189)
Stock compensation expense			17,497	15,797
Net change in wholesale finance receivables related to sales			(271,927)	(442,254)
Provision for credit losses	$ 26,217	$ 23,461	69,806	60,584
Gain on off-balance sheet asset-backed securitization			0	(9,269)
Deferred income taxes			178	(3,548)
Other, net			(4,163)	(20,508)
Changes in current assets and liabilities:
Accounts receivable, net			(28,239)	(55,109)
Finance receivables - accrued interest and other			2,067	(125)
Inventories			138,942	225,586
Accounts payable and accrued liabilities			133,120	53,790
Derivative instruments			3,114	(1,474)
Other			(8,634)	(31,573)
Total adjustments			181,832	(74,630)
Net cash provided by operating activities			$ 627,068	$ 456,290

Finance Receivables (Narrative)

Finance Receivables (Narrative) (Detail) - USD ($)	6 Months Ended
	Jun. 25, 2017	Dec. 31, 2016	Jun. 26, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated for impairment	$ 0	$ 0	$ 0
Wholesale
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated for impairment	0	0	0
Finance receivables, gross, 90 days or more past due and accruing interest	1,100,000	300,000	200,000
Wholesale receivables on non-accrual status	0	0	0
Retail
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated for impairment	$ 0	0	0
Threshold period past due to be charged-off	120 days
Finance receivables, gross, 90 days or more past due and accruing interest	$ 25,100,000	$ 40,400,000	$ 21,900,000

Finance Receivables (Finance Re

Finance Receivables (Finance Receivables) (Detail) - USD ($) $ in Thousands	Jun. 25, 2017	Mar. 26, 2017	Dec. 31, 2016	Jun. 26, 2016	Mar. 27, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, gross	$ 7,526,063		$ 7,008,801	$ 7,443,398
Allowance for credit losses	(193,528)	$ (184,030)	(173,343)	(161,353)	$ (156,184)	$ (147,178)
Finance receivables, net	7,332,535		6,835,458	7,282,045
Retail
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, gross	6,267,211		5,982,211	6,020,750
Allowance for credit losses	(185,899)	(176,068)	(166,810)	(152,998)	(146,727)	(139,320)
Wholesale
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, gross	1,258,852		1,026,590	1,422,648
Allowance for credit losses	$ (7,629)	$ (7,962)	$ (6,533)	$ (8,355)	$ (9,457)	$ (7,858)

Finance Receivables (Changes In

Finance Receivables (Changes In Allowance For Credit Losses On Finance Receivables) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2017	Jun. 26, 2016	Jun. 25, 2017	Jun. 26, 2016	Dec. 31, 2016
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance, beginning of period	$ 184,030	$ 156,184	$ 173,343	$ 147,178
Provision for credit losses	26,217	23,461	69,806	60,584
Charge-offs	(30,374)	(26,460)	(76,298)	(66,104)
Recoveries	13,655	11,459	26,677	22,986
Other		(3,291)		(3,291)
Balance, end of period	193,528	161,353	193,528	161,353
Current unpaid balance - off-balance sheet retail motorcycle finance receivables	187,769	292,176	187,769	292,176	$ 236,706
Current unpaid balance - on-balance sheet retail motorcycle finance receivables	6,121,372	5,872,668	6,121,372	5,872,668	$ 5,839,467
Variable Interest Entity, Not Primary Beneficiary
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Principal balance of finance receivable		301,800		301,800
Variable Interest Entity, Not Primary Beneficiary | Asset-backed securitization debt
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Principal balance of finance receivable		301,800		301,800
Retail
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance, beginning of period	176,068	146,727	166,810	139,320
Provision for credit losses	26,550	24,563	68,710	60,087
Charge-offs	(30,374)	(26,460)	(76,298)	(66,104)
Recoveries	13,655	11,459	26,677	22,986
Other		(3,291)		(3,291)
Balance, end of period	185,899	152,998	185,899	152,998
Wholesale
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance, beginning of period	7,962	9,457	6,533	7,858
Provision for credit losses	(333)	(1,102)	1,096	497
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Other		0		0
Balance, end of period	$ 7,629	$ 8,355	$ 7,629	$ 8,355

Finance Receivables (Allowance

Finance Receivables (Allowance For Credit Losses And Finance Receivables By Portfolio Individually And Collectively Evaluated For Impairment) (Detail) - USD ($)	Jun. 25, 2017	Mar. 26, 2017	Dec. 31, 2016	Jun. 26, 2016	Mar. 27, 2016	Dec. 31, 2015
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment	$ 0		$ 0	$ 0
Collectively evaluated for impairment	193,528,000		173,343,000	161,353,000
Total allowance for credit losses	193,528,000	$ 184,030,000	173,343,000	161,353,000	$ 156,184,000	$ 147,178,000
Individually evaluated for impairment	0		0	0
Collectively evaluated for impairment	7,526,063,000		7,008,801,000	7,443,398,000
Financing receivable, gross	7,526,063,000		7,008,801,000	7,443,398,000
Retail
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment	0		0	0
Collectively evaluated for impairment	185,899,000		166,810,000	152,998,000
Total allowance for credit losses	185,899,000	176,068,000	166,810,000	152,998,000	146,727,000	139,320,000
Individually evaluated for impairment	0		0	0
Collectively evaluated for impairment	6,267,211,000		5,982,211,000	6,020,750,000
Financing receivable, gross	6,267,211,000		5,982,211,000	6,020,750,000
Wholesale
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment	0		0	0
Collectively evaluated for impairment	7,629,000		6,533,000	8,355,000
Total allowance for credit losses	7,629,000	$ 7,962,000	6,533,000	8,355,000	$ 9,457,000	$ 7,858,000
Individually evaluated for impairment	0		0	0
Collectively evaluated for impairment	1,258,852,000		1,026,590,000	1,422,648,000
Financing receivable, gross	$ 1,258,852,000		$ 1,026,590,000	$ 1,422,648,000

Finance Receivables (Aging Of P

Finance Receivables (Aging Of Past Due Finance Receivables Including Non Accrual Status Finance Receivables) (Detail) - USD ($) $ in Thousands	Jun. 25, 2017	Dec. 31, 2016	Jun. 26, 2016
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 182,170	$ 222,988	$ 168,893
Total finance receivables	7,526,063	7,008,801	7,443,398
Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivable, current	7,343,893	6,785,813	7,274,505
31-60 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	118,897	132,302	108,649
61-90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	37,056	49,961	38,114
Greater than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	26,217	40,725	22,130
Retail
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	180,619	221,393	168,091
Total finance receivables	6,267,211	5,982,211	6,020,750
Retail | Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivable, current	6,086,592	5,760,818	5,852,659
Retail | 31-60 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	118,616	131,302	108,192
Retail | 61-90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	36,914	49,642	37,961
Retail | Greater than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	25,089	40,449	21,938
Wholesale
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	1,551	1,595	802
Total finance receivables	1,258,852	1,026,590	1,422,648
Wholesale | Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivable, current	1,257,301	1,024,995	1,421,846
Wholesale | 31-60 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	281	1,000	457
Wholesale | 61-90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	142	319	153
Wholesale | Greater than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 1,128	$ 276	$ 192

Finance Receivables (Recorded I

Finance Receivables (Recorded Investment Of Retail and Wholesale Finance Receivables By Credit Quality Indicator) (Detail) - USD ($) $ in Thousands	Jun. 25, 2017	Dec. 31, 2016	Jun. 26, 2016
Financing Receivable, Recorded Investment [Line Items]
Financing receivable, gross	$ 7,526,063	$ 7,008,801	$ 7,443,398
Retail
Financing Receivable, Recorded Investment [Line Items]
Financing receivable, gross	6,267,211	5,982,211	6,020,750
Retail | Prime
Financing Receivable, Recorded Investment [Line Items]
Financing receivable, gross	5,034,187	4,768,420	4,756,479
Retail | Sub-prime
Financing Receivable, Recorded Investment [Line Items]
Financing receivable, gross	1,233,024	1,213,791	1,264,271
Wholesale
Financing Receivable, Recorded Investment [Line Items]
Financing receivable, gross	1,258,852	1,026,590	1,422,648
Wholesale | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Financing receivable, gross	5,203	1,333	0
Wholesale | Substandard
Financing Receivable, Recorded Investment [Line Items]
Financing receivable, gross	10,458	1,773	19,637
Wholesale | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Financing receivable, gross	4,953	30,152	4,334
Wholesale | Medium Risk
Financing Receivable, Recorded Investment [Line Items]
Financing receivable, gross	8,115	14,620	6,350
Wholesale | Low Risk
Financing Receivable, Recorded Investment [Line Items]
Financing receivable, gross	$ 1,230,123	$ 978,712	$ 1,392,327

Fair Value Measurements (Summar

Fair Value Measurements (Summary of Assets And Liabilities Measured at Fair Value) (Detail) - USD ($) $ in Thousands	Jun. 25, 2017	Dec. 31, 2016	Jun. 26, 2016
Fair Value
Assets:
Cash equivalents	$ 988,476	$ 759,984	$ 864,670
Marketable securities	44,156	43,638	42,721
Derivatives	458	29,034	9,528
Liabilities:
Derivatives, liabilities	4,865	142	1,605
Fair Value, Measurements, Recurring
Assets:
Cash equivalents	625,485	531,519	549,426
Marketable securities	44,156	43,638	42,721
Derivatives	458	29,034	9,528
Assets, fair value	670,099	604,191	601,675
Liabilities:
Derivatives, liabilities	4,865	142	1,605
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Cash equivalents	375,550	426,266	392,800
Marketable securities	44,156	38,119	37,651
Derivatives	0	0	0
Assets, fair value	419,706	464,385	430,451
Liabilities:
Derivatives, liabilities	0	0	0
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2)
Assets:
Cash equivalents	249,935	105,253	156,626
Marketable securities	0	5,519	5,070
Derivatives	458	29,034	9,528
Assets, fair value	250,393	139,806	171,224
Liabilities:
Derivatives, liabilities	4,865	142	1,605
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3)
Assets:
Cash equivalents	0	0	0
Marketable securities	0	0	0
Derivatives	0	0	0
Assets, fair value	0	0	0
Liabilities:
Derivatives, liabilities	0	0	0
Fair Value, Measurements, Nonrecurring | Fair Value Adjustment
Liabilities:
Repossessed inventory	2,700	9,300	3,600
Fair Value, Measurements, Nonrecurring | Significant Other Observable Inputs (Level 2) | Fair Value
Liabilities:
Repossessed inventory	$ 17,900	$ 19,300	$ 15,300

Fair Value of Financial Instr49

Fair Value of Financial Instruments (Summary of Fair Value And Carrying Value of Company Financial Instruments) (Detail) - USD ($) $ in Thousands	Jun. 25, 2017	Dec. 31, 2016	Jun. 26, 2016
Fair Value
Assets:
Cash equivalents	$ 988,476	$ 759,984	$ 864,670
Marketable securities	44,156	43,638	42,721
Derivatives	458	29,034	9,528
Finance receivables, net	7,401,974	6,921,037	7,369,410
Restricted cash	74,395	67,147	92,650
Liabilities:
Derivatives	4,865	142	1,605
Fair Value | Secured Debt | Asset-Backed U.S. Commercial Paper Conduit Facility VIE [Member]
Liabilities:
Long-term debt, fair value	279,833	0	0
Fair Value | Secured Debt | Asset-backed Canadian commercial paper conduit facility
Liabilities:
Long-term debt, fair value	138,739	149,338	161,626
Fair Value | Secured Debt | Asset-backed securitization debt
Liabilities:
Long-term debt, fair value	521,956	797,688	1,080,416
Fair Value | Medium-term notes
Liabilities:
Long-term debt, fair value	4,623,146	4,139,462	4,239,390
Fair Value | Senior unsecured notes
Liabilities:
Long-term debt, fair value	773,084	744,552	808,227
Carrying Value
Assets:
Cash equivalents	988,476	759,984	864,670
Marketable securities	44,156	43,638	42,721
Derivatives	458	29,034	9,528
Finance receivables, net	7,332,535	6,835,458	7,282,045
Restricted cash	74,395	67,147	92,650
Liabilities:
Derivatives	4,865	142	1,605
Carrying Value | Commercial Paper
Liabilities:
Short-term debt, fair value	928,445	1,055,708	1,020,487
Carrying Value | Secured Debt | Asset-Backed U.S. Commercial Paper Conduit Facility VIE [Member]
Liabilities:
Long-term debt, fair value	279,833	0	0
Carrying Value | Secured Debt | Asset-backed Canadian commercial paper conduit facility
Liabilities:
Long-term debt, fair value	138,739	149,338	161,626
Carrying Value | Secured Debt | Asset-backed securitization debt
Liabilities:
Long-term debt, fair value	521,300	796,275	1,074,931
Carrying Value | Medium-term notes
Liabilities:
Long-term debt, fair value	4,562,403	4,064,940	4,063,297
Carrying Value | Senior unsecured notes
Liabilities:
Long-term debt, fair value	$ 741,633	$ 741,306	$ 740,982

Derivative Instruments and He50

Derivative Instruments and Hedging Activities (Derivative Instrument Fair Value) (Detail) - USD ($) $ in Thousands	Jun. 25, 2017	Dec. 31, 2016	Jun. 26, 2016
Designated as Hedging Instrument | Cash Flow Hedging
Derivatives, Fair Value [Line Items]
Notional Value	$ 545,703	$ 555,543	$ 543,649
Designated as Hedging Instrument | Cash Flow Hedging | Other Current Assets
Derivatives, Fair Value [Line Items]
Asset Fair Value	409	28,705	9,511
Designated as Hedging Instrument | Cash Flow Hedging | Accrued Liabilities
Derivatives, Fair Value [Line Items]
Liability Fair Value	4,697	142	1,358
Designated as Hedging Instrument | Cash Flow Hedging | Foreign Currency Contracts
Derivatives, Fair Value [Line Items]
Notional Value	544,601	554,551	542,788
Designated as Hedging Instrument | Cash Flow Hedging | Foreign Currency Contracts | Other Current Assets
Derivatives, Fair Value [Line Items]
Asset Fair Value	409	28,528	9,423
Designated as Hedging Instrument | Cash Flow Hedging | Foreign Currency Contracts | Accrued Liabilities
Derivatives, Fair Value [Line Items]
Liability Fair Value	4,622	142	1,358
Designated as Hedging Instrument | Cash Flow Hedging | Commodity Contract
Derivatives, Fair Value [Line Items]
Notional Value	1,102	992	861
Designated as Hedging Instrument | Cash Flow Hedging | Commodity Contract | Other Current Assets
Derivatives, Fair Value [Line Items]
Asset Fair Value	0	177	88
Designated as Hedging Instrument | Cash Flow Hedging | Commodity Contract | Accrued Liabilities
Derivatives, Fair Value [Line Items]
Liability Fair Value	75	0	0
Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Notional Value	4,336	5,025	4,298
Not Designated as Hedging Instrument | Other Current Assets
Derivatives, Fair Value [Line Items]
Asset Fair Value	49	329	17
Not Designated as Hedging Instrument | Accrued Liabilities
Derivatives, Fair Value [Line Items]
Liability Fair Value	168	0	247
Not Designated as Hedging Instrument | Commodity Contract
Derivatives, Fair Value [Line Items]
Notional Value	4,336	5,025	4,298
Not Designated as Hedging Instrument | Commodity Contract | Other Current Assets
Derivatives, Fair Value [Line Items]
Asset Fair Value	49	329	17
Not Designated as Hedging Instrument | Commodity Contract | Accrued Liabilities
Derivatives, Fair Value [Line Items]
Liability Fair Value	$ 168	$ 0	$ 247

Derivative Instruments and He51

Derivative Instruments and Hedging Activities (Gain Loss On Derivative Cash Flow Hedges Recognized In OCI) (Detail) - Designated as Hedging Instrument - Cash Flow Hedging - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2017	Jun. 26, 2016	Jun. 25, 2017	Jun. 26, 2016
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain/(Loss) Recognized in OCI, before tax	$ (12,650)	$ 8,136	$ (24,553)	$ (4,580)
Amount of Gain/(Loss) Reclassified from AOCL into Income	3,875	3,357	6,349	3,907
Expected to be Reclassified Over the Next Twelve Months			(4,119)
Foreign Currency Contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain/(Loss) Recognized in OCI, before tax	(11,851)	8,017	(23,648)	(4,507)
Foreign Currency Contracts | Cost of Sales
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain/(Loss) Reclassified from AOCL into Income	3,957	3,551	6,473	4,407
Expected to be Reclassified Over the Next Twelve Months			(3,538)
Commodity Contract
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain/(Loss) Recognized in OCI, before tax	(80)	119	(186)	(73)
Commodity Contract | Cost of Sales
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain/(Loss) Reclassified from AOCL into Income	17	(104)	65	(319)
Expected to be Reclassified Over the Next Twelve Months			(75)
Treasury Rate Locks
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain/(Loss) Recognized in OCI, before tax	(719)	0	(719)	0
Treasury Rate Locks | Interest Expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain/(Loss) Reclassified from AOCL into Income	$ (99)	$ (90)	(189)	$ (181)
Expected to be Reclassified Over the Next Twelve Months			$ (506)

Derivative Instruments and He52

Derivative Instruments and Hedging Activities (Gain Loss On Derivative Cash Flow Hedges Reclassified From AOCI Into Income) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2017	Jun. 26, 2016	Jun. 25, 2017	Jun. 26, 2016
Derivative [Line Items]
Amount of cash flow hedges excluded from effectiveness testing	$ 0	$ 0	$ 0	$ 0
Not Designated as Hedging Instrument
Derivative [Line Items]
Amount of Gain/(Loss) Recognized in Income on Derivative	(193)	67	(173)	(224)
Not Designated as Hedging Instrument | Commodity Contract | Cost of Goods Sold
Derivative [Line Items]
Amount of Gain/(Loss) Recognized in Income on Derivative	$ (193)	$ 67	$ (173)	$ (224)

Accumulated Other Comprehensi53

Accumulated Other Comprehensive Loss (Changes In Other Comprehensive Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2017	Jun. 26, 2016	Jun. 25, 2017	Jun. 26, 2016
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period			$ 1,920,158
Total other comprehensive income, net of tax	$ 7,685	$ 13,177	21,436	$ 25,044
Balance, end of period	2,046,167	2,021,007	2,046,167	2,021,007
AOCI Attributable to Parent [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	(551,630)	(603,338)	(565,381)	(615,205)
Other comprehensive income (loss) before reclassifications	(1,291)	10,601	2,423	12,385
Income tax expense (benefit)	4,160	(2,883)	8,499	(25)
Net other comprehensive income (loss) before reclassifications	2,869	7,718	10,922	12,360
Total reclassifications before tax	7,649	8,669	16,699	20,145
Reclassifications from AOCI, Income tax expense (benefit)	(2,833)	(3,210)	(6,185)	(7,461)
Net reclassifications	4,816	5,459	10,514	12,684
Total other comprehensive income, net of tax	7,685	13,177	21,436	25,044
Balance, end of period	(543,945)	(590,161)	(543,945)	(590,161)
AOCI Attributable to Parent [Member] | Foreign Currency Contracts
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Total reclassifications before tax	(3,957)	(3,551)	(6,473)	(4,407)
AOCI Attributable to Parent [Member] | Commodity Contract
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Total reclassifications before tax	(17)	104	(65)	319
AOCI Attributable to Parent [Member] | Treasury Rate Locks
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Total reclassifications before tax	99	90	189	181
Foreign currency translation adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	(52,575)	(46,151)	(68,132)	(58,844)
Other comprehensive income (loss) before reclassifications	9,447	2,516	25,080	17,087
Income tax expense (benefit)	190	112	114	(1,766)
Net other comprehensive income (loss) before reclassifications	9,637	2,628	25,194	15,321
Total reclassifications before tax	0	0	0	0
Reclassifications from AOCI, Income tax expense (benefit)	0	0	0	0
Net reclassifications	0	0	0	0
Total other comprehensive income, net of tax	9,637	2,628	25,194	15,321
Balance, end of period	(42,938)	(43,523)	(42,938)	(43,523)
Marketable securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	(1,204)	(1,139)	(1,194)	(1,094)
Other comprehensive income (loss) before reclassifications	1,912	(51)	1,896	(122)
Income tax expense (benefit)	(708)	19	(702)	45
Net other comprehensive income (loss) before reclassifications	1,204	(32)	1,194	(77)
Total reclassifications before tax	0	0	0	0
Reclassifications from AOCI, Income tax expense (benefit)	0	0	0	0
Net reclassifications	0	0	0	0
Total other comprehensive income, net of tax	1,204	(32)	1,194	(77)
Balance, end of period	0	(1,171)	0	(1,171)
Derivative financial instruments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	3,472	(2,466)	12,524	5,886
Other comprehensive income (loss) before reclassifications	(12,650)	8,136	(24,553)	(4,580)
Income tax expense (benefit)	4,678	(3,014)	9,087	1,696
Net other comprehensive income (loss) before reclassifications	(7,972)	5,122	(15,466)	(2,884)
Total reclassifications before tax	(3,875)	(3,357)	(6,349)	(3,907)
Reclassifications from AOCI, Income tax expense (benefit)	1,435	1,244	2,351	1,448
Net reclassifications	(2,440)	(2,113)	(3,998)	(2,459)
Total other comprehensive income, net of tax	(10,412)	3,009	(19,464)	(5,343)
Balance, end of period	(6,940)	543	(6,940)	543
Derivative financial instruments | Foreign Currency Contracts
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Total reclassifications before tax	(3,957)	(3,551)	(6,473)	(4,407)
Derivative financial instruments | Commodity Contract
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Total reclassifications before tax	(17)	104	(65)	319
Derivative financial instruments | Treasury Rate Locks
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Total reclassifications before tax	99	90	189	181
Pension and postretirement benefit plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	(501,323)	(553,582)	(508,579)	(561,153)
Other comprehensive income (loss) before reclassifications	0	0	0	0
Income tax expense (benefit)	0	0	0	0
Net other comprehensive income (loss) before reclassifications	0	0	0	0
Total reclassifications before tax	11,524	12,026	23,048	24,052
Reclassifications from AOCI, Income tax expense (benefit)	(4,268)	(4,454)	(8,536)	(8,909)
Net reclassifications	7,256	7,572	14,512	15,143
Total other comprehensive income, net of tax	7,256	7,572	14,512	15,143
Balance, end of period	(494,067)	(546,010)	(494,067)	(546,010)
Pension and postretirement benefit plans - Prior service credits
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Total reclassifications before tax	(289)	(446)	(578)	(892)
Pension and postretirement benefit plans - Actuarial losses
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Total reclassifications before tax	$ 11,813	$ 12,472	$ 23,626	$ 24,944

Debt (Debt With Contractual Ter

Debt (Debt With Contractual Term Less Than One Year) (Detail) - USD ($) $ in Thousands	Jun. 25, 2017	Dec. 31, 2016	Jun. 26, 2016
Short-term Debt [Line Items]
Short-term debt	$ 928,445	$ 1,055,708	$ 1,020,487
Commercial Paper
Short-term Debt [Line Items]
Short-term debt	$ 928,445	$ 1,055,708	$ 1,020,487

Debt (Debt With A Contractual T

Debt (Debt With A Contractual Term Greater Than One Year) (Detail) - USD ($) $ in Thousands	Jun. 25, 2017	Dec. 31, 2016	Jun. 26, 2016
Debt Instrument [Line Items]
Gross long-term debt	$ 6,243,908	$ 5,751,859	$ 6,040,836
Less: current portion of long-term debt, net of unamortized discount and debt issuance costs	(1,565,558)	(1,084,884)	(732,773)
Long-term debt, net	4,678,350	4,666,975	5,308,063
Secured Debt
Debt Instrument [Line Items]
Less: unamortized discount and debt issuance costs	(795)	(1,480)	(2,386)
Gross long-term debt	939,872	945,613	1,236,557
Secured Debt | Asset-backed Canadian commercial paper conduit facility
Debt Instrument [Line Items]
Long-term debt, gross	138,739	149,338	161,626
Secured Debt | Asset-Backed U.S. Commercial Paper Conduit Facility VIE [Member]
Debt Instrument [Line Items]
Long-term debt, gross	279,833	0	0
Secured Debt | Asset-backed securitization debt
Debt Instrument [Line Items]
Long-term debt, gross	522,095	797,755	1,077,317
Unsecured Debt
Debt Instrument [Line Items]
Less: unamortized discount and debt issuance costs	(23,452)	(21,242)	(24,429)
Unsecured Debt | 2.70% Medium-term notes due in 2017 par value, issued January 2012
Debt Instrument [Line Items]
Long-term debt, gross	$ 0	$ 400,000	$ 400,000
Debt instrument, stated percentage	2.70%	2.70%	2.70%
Unsecured Debt | 2.15% Medium-term notes due in 2020 par value, issued February 2015
Debt Instrument [Line Items]
Long-term debt, gross	$ 600,000	$ 600,000	$ 600,000
Debt instrument, stated percentage	2.15%	2.15%	2.15%
Unsecured Debt | 1.55% Medium-term notes due in 2017 par value, issued November 2014
Debt Instrument [Line Items]
Long-term debt, gross	$ 400,000	$ 400,000	$ 400,000
Debt instrument, stated percentage	1.55%	1.55%	1.55%
Unsecured Debt | 6.80% Medium-term notes due in 2018 par value, issued May 2008
Debt Instrument [Line Items]
Long-term debt, gross	$ 877,488	$ 877,488	$ 878,708
Debt instrument, stated percentage	6.80%	6.80%	6.80%
Unsecured Debt | 2.25% Medium-term notes due in 2019 par value, issued January 2016
Debt Instrument [Line Items]
Long-term debt, gross	$ 600,000	$ 600,000	$ 600,000
Debt instrument, stated percentage	2.25%	2.25%	2.25%
Unsecured Debt | Floating-Rate Medium Term Notes due 2019 [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 150,000	$ 0	$ 0
Unsecured Debt | Two Point Four Percent Medium-Term Notes Due 2019 [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 600,000	$ 600,000	$ 600,000
Debt instrument, stated percentage	2.40%	2.40%	2.40%
Unsecured Debt | Two Point Four Percent Medium-Term Notes Due 2020 [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 350,000	$ 0	$ 0
Debt instrument, stated percentage	2.40%	2.40%	2.40%
Unsecured Debt | Two Point Eighty-five Percent Medium-Term Notes Due 2021 [Member] [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 600,000	$ 600,000	$ 600,000
Debt instrument, stated percentage	2.85%	2.85%	2.85%
Unsecured Debt | Two Point Fifty-five Percent Medium-Term Notes Due 2022 [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 400,000	$ 0	$ 0
Debt instrument, stated percentage	2.55%	2.55%	2.55%
Unsecured Debt | Three Point Five Percent Senior Unsecured Notes Due 2025 [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 450,000	$ 450,000	$ 450,000
Debt instrument, stated percentage	3.50%	3.50%	3.50%
Unsecured Debt | Four Point Six Two Five Percent Senior Unsecured Notes Due 2045 [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 300,000	$ 300,000	$ 300,000
Debt instrument, stated percentage	4.625%	4.625%	4.625%

Asset-Backed Financing (Narrati

Asset-Backed Financing (Narrative) (Detail)

1 Months Ended

3 Months Ended

6 Months Ended

Apr. 30, 2017USD ($)

Jan. 31, 2017USD ($)

Jun. 30, 2016CAD

Jun. 25, 2017USD ($)

Mar. 26, 2017USD ($)

Jun. 26, 2016USD ($)

Mar. 27, 2016USD ($)

Jun. 25, 2017USD ($)

Jun. 26, 2016USD ($)

Jun. 30, 2017CAD

Dec. 31, 2016USD ($)

Dec. 14, 2016USD ($)

Variable Interest Entity [Line Items]

Company issued secured notes, net of discount and issuance costs

$ 6,243,908,000

$ 6,040,836,000

$ 6,243,908,000

$ 6,040,836,000

$ 5,751,859,000

Variable Interest Entity, Not Primary Beneficiary

Variable Interest Entity [Line Items]

Principal balance of finance receivable

301,800,000

301,800,000

Asset-backed securitization debt | Variable Interest Entity, Not Primary Beneficiary

Variable Interest Entity [Line Items]

Principal balance of finance receivable

301,800,000

301,800,000

Gain on sale of finance receivable

9,300,000

Cash proceeds from sale of financial asset

312,600,000

312,600,000

Unpaid principal balance of the retail motorcycle finance receivables

187,800,000

187,800,000

Secured Debt

Variable Interest Entity [Line Items]

Company issued secured notes, net of discount and issuance costs

939,872,000

1,236,557,000

939,872,000

1,236,557,000

945,613,000

Secured Debt | Asset-Backed U.S. Commercial Paper Conduit Facility VIE [Member] | SPEs | U.S. Line of Credit

Variable Interest Entity [Line Items]

Company issued secured notes

$ 24,000,000

$ 300,000,000

Line of credit, maximum borrowing capacity

$ 900,000,000

Transfers on finance receivables

$ 28,200,000

$ 333,400,000

Borrowings outstanding under conduit facility

0

0

$ 0

Debt instrument, term

5 years

Secured Debt | Asset-Backed U.S. Commercial Paper Conduit Facility VIE, Facility Two [Member] | SPEs | U.S. Line of Credit

Variable Interest Entity [Line Items]

Line of credit, maximum borrowing capacity

300,000,000

Secured Debt | Asset-Backed U.S. Commercial Paper Conduit Facility VIE, Facility One [Member] | SPEs | U.S. Line of Credit

Variable Interest Entity [Line Items]

Line of credit, maximum borrowing capacity

$ 600,000,000

Secured Debt | Asset-backed Canadian commercial paper conduit facility | Variable Interest Entity, Not Primary Beneficiary

Variable Interest Entity [Line Items]

Transfers on finance receivables

14,200,000

$ 6,300,000

$ 31,400,000

$ 6,600,000

20,500,000

$ 38,000,000

Secured Debt | Asset-backed Canadian commercial paper conduit facility | Variable Interest Entity, Not Primary Beneficiary | Foreign Line of Credit

Variable Interest Entity [Line Items]

Line of credit, maximum borrowing capacity | CAD

CAD 240,000,000

Debt instrument, term

5 years

VIE, maximum loss exposure, amount

$ 22,200,000

$ 22,200,000

Subsequent Event [Member] | Secured Debt | Asset-backed Canadian commercial paper conduit facility | Variable Interest Entity, Not Primary Beneficiary | Foreign Line of Credit

Variable Interest Entity [Line Items]

Line of credit, maximum borrowing capacity | CAD

CAD 220,000,000

Asset-Backed Financing (Assets

Asset-Backed Financing (Assets And Liabilities Of Variable Interest Entities) (Detail) - USD ($) $ in Thousands	Jun. 25, 2017	Dec. 31, 2016	Jun. 26, 2016
Finance receivables
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Transfers accounts for as secured borrowings, assets, carrying amount	$ 1,050,702	$ 1,059,523	$ 1,350,887
Finance receivables | Asset-backed securitizations | SPEs
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Transfers accounts for as secured borrowings, assets, carrying amount	599,754	893,804	1,173,527
Finance receivables | Asset-backed U.S. commercial paper conduit facilities | SPEs
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Transfers accounts for as secured borrowings, assets, carrying amount	298,700	0	0
Finance receivables | Asset-backed Canadian commercial paper conduit facility | Variable Interest Entity, Not Primary Beneficiary
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Transfers accounts for as secured borrowings, assets, carrying amount	152,248	165,719	177,360
Allowance for credit losses
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Transfers accounts for as secured borrowings, assets, carrying amount	(30,334)	(29,041)	(34,051)
Allowance for credit losses | Asset-backed securitizations | SPEs
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Transfers accounts for as secured borrowings, assets, carrying amount	(18,291)	(25,468)	(30,431)
Allowance for credit losses | Asset-backed U.S. commercial paper conduit facilities | SPEs
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Transfers accounts for as secured borrowings, assets, carrying amount	(9,132)	0	0
Allowance for credit losses | Asset-backed Canadian commercial paper conduit facility | Variable Interest Entity, Not Primary Beneficiary
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Transfers accounts for as secured borrowings, assets, carrying amount	(2,911)	(3,573)	(3,620)
Restricted cash
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Transfers accounts for as secured borrowings, assets, carrying amount	74,395	67,147	92,650
Restricted cash | Asset-backed securitizations | SPEs
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Transfers accounts for as secured borrowings, assets, carrying amount	47,980	57,057	79,475
Restricted cash | Asset-backed U.S. commercial paper conduit facilities | SPEs
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Transfers accounts for as secured borrowings, assets, carrying amount	14,993	0	0
Restricted cash | Asset-backed Canadian commercial paper conduit facility | Variable Interest Entity, Not Primary Beneficiary
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Transfers accounts for as secured borrowings, assets, carrying amount	11,422	10,090	13,175
Other assets
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Transfers accounts for as secured borrowings, assets, carrying amount	2,373	3,207	3,379
Other assets | Asset-backed securitizations | SPEs
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Transfers accounts for as secured borrowings, assets, carrying amount	1,360	2,452	2,825
Other assets | Asset-backed U.S. commercial paper conduit facilities | SPEs
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Transfers accounts for as secured borrowings, assets, carrying amount	810	329	222
Other assets | Asset-backed Canadian commercial paper conduit facility | Variable Interest Entity, Not Primary Beneficiary
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Transfers accounts for as secured borrowings, assets, carrying amount	203	426	332
Total assets
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Transfers accounts for as secured borrowings, assets, carrying amount	1,097,136	1,100,836	1,412,865
Total assets | Asset-backed securitizations | SPEs
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Transfers accounts for as secured borrowings, assets, carrying amount	630,803	927,845	1,225,396
Total assets | Asset-backed U.S. commercial paper conduit facilities | SPEs
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Transfers accounts for as secured borrowings, assets, carrying amount	305,371	329	222
Total assets | Asset-backed Canadian commercial paper conduit facility | Variable Interest Entity, Not Primary Beneficiary
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Transfers accounts for as secured borrowings, assets, carrying amount	160,962	172,662	187,247
Asset-backed debt
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Transfers accounts for as secured borrowings, associated liabilities, carrying amount	939,872	945,613	1,236,557
Asset-backed debt | Asset-backed securitizations | SPEs
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Transfers accounts for as secured borrowings, associated liabilities, carrying amount	521,300	796,275	1,074,931
Asset-backed debt | Asset-backed U.S. commercial paper conduit facilities | SPEs
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Transfers accounts for as secured borrowings, associated liabilities, carrying amount	279,833	0	0
Asset-backed debt | Asset-backed Canadian commercial paper conduit facility | Variable Interest Entity, Not Primary Beneficiary
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Transfers accounts for as secured borrowings, associated liabilities, carrying amount	$ 138,739	$ 149,338	$ 161,626

Asset-Backed Financing (Schedul

Asset-Backed Financing (Schedule of Loans Acquired in Transfer Not Accounted For as Debt Securities) (Detail) - Secured Debt - Variable Interest Entity, Not Primary Beneficiary - Asset-backed Canadian commercial paper conduit facility - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 25, 2017	Mar. 26, 2017	Jun. 26, 2016	Mar. 27, 2016	Jun. 25, 2017	Jun. 26, 2016
Variable Interest Entity [Line Items]
Transfers on finance receivables	$ 14,200	$ 6,300	$ 31,400	$ 6,600	$ 20,500	$ 38,000
Foreign Line of Credit
Variable Interest Entity [Line Items]
Proceeds on finance receivables	$ 12,400	$ 5,500	$ 27,500	$ 5,800	$ 17,900	$ 33,300

Asset-Backed Financing (Servici

Asset-Backed Financing (Servicing Activities) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2017	Jun. 26, 2016	Jun. 25, 2017	Jun. 26, 2016	Dec. 31, 2016
Transfers and Servicing [Abstract]
Servicing and ancillary fees			$ 1,100	$ 300
Current unpaid balance - on-balance sheet retail motorcycle finance receivables	$ 6,121,372	$ 5,872,668	6,121,372	5,872,668	$ 5,839,467
Current unpaid balance - off-balance sheet retail motorcycle finance receivables	187,769	292,176	187,769	292,176	236,706
Current unpaid balance - total serviced retail motorcycle finance receivables	6,309,141	6,164,844	6,309,141	6,164,844	6,076,173
Delinquent - on-balance sheet retail motorcycle finance receivables	180,619	168,091	180,619	168,091	221,393
Delinquent - off-balance sheet retail motorcycle finance receivables	1,659	460	1,659	460	1,858
Delinquent - total serviced retail motorcycle finance receivables	182,278	168,551	182,278	168,551	$ 223,251
Credit losses net of recoveries - on-balance sheet retail motorcycle finance receivables	16,719	15,001	49,621	43,118
Credit losses net of recoveries - off-balance sheet retail motorcycle finance receivables	152	15	566	15
Credit losses net of recoveries - total serviced retail motorcycle finance receivables	$ 16,871	$ 15,016	$ 50,187	$ 43,133

Product Warranty and Safety R60

Product Warranty and Safety Recall Campaigns (Narrative) (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 25, 2017	Mar. 26, 2017	Dec. 31, 2016	Jun. 26, 2016	Mar. 27, 2016	Dec. 31, 2015
Product Information [Line Items]
Liability for recall campaigns	$ 80,681	$ 78,211	$ 79,482	$ 82,480	$ 74,836	$ 74,217
Recall Campaign
Product Information [Line Items]
Liability for recall campaigns	$ 7,900		$ 13,600	$ 14,300
Motorcycles | All Countries, Excluding Japan
Product Information [Line Items]
Standard product warranty, period (in years)	2 years
Motorcycles | Japan
Product Information [Line Items]
Standard product warranty, period (in years)	3 years
Parts and Accessories and General Merchandise
Product Information [Line Items]
Standard product warranty, period (in years)	1 year

Product Warranty and Safety R61

Product Warranty and Safety Recall Campaigns (Warranty and Safety Recall Liability) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2017	Jun. 26, 2016	Jun. 25, 2017	Jun. 26, 2016
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance, beginning of period	$ 78,211	$ 74,836	$ 79,482	$ 74,217
Warranties issued during the period	18,084	20,202	34,836	38,214
Settlements made during the period	(21,200)	(22,679)	(40,533)	(40,842)
Recalls and changes to pre-existing warranty liabilities	5,586	10,121	6,896	10,891
Balance, end of period	$ 80,681	$ 82,480	$ 80,681	$ 82,480

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Detail) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 25, 2017	Jun. 26, 2016	Jun. 25, 2017	Jun. 26, 2016
Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares considered anti-dilutive and excluded from computation	0.6	1.5	0.7	1.7

Earnings Per Share (Reconciliat

Earnings Per Share (Reconciliation Of Earnings Per Share Basic And Diluted) (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2017	Jun. 26, 2016	Jun. 25, 2017	Jun. 26, 2016
Numerator:
Net income used in computing basic and diluted earnings per share	$ 258,867	$ 280,431	$ 445,236	$ 530,920
Denominator:
Denominator for basic earnings per share - weighted-average common shares (in shares)	174,409	180,587	175,178	181,976
Effect of dilutive securities - employee stock compensation plan (in shares)	915	752	992	764
Denominator for diluted earnings per share - adjusted weighted-average shares outstanding (in shares)	175,324	181,339	176,170	182,740
Basic (in dollars per share)	$ 1.48	$ 1.55	$ 2.54	$ 2.92
Diluted (in dollars per share)	$ 1.48	$ 1.55	$ 2.53	$ 2.91

Employee Benefit Plans (Narrati

Employee Benefit Plans (Narrative) (Detail) $ in Millions	6 Months Ended
	Jun. 25, 2017USD ($)
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Company contributions	$ 25

Employee Benefit Plans (Compone

Employee Benefit Plans (Components of Net Periodic Benefit Costs) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2017	Jun. 26, 2016	Jun. 25, 2017	Jun. 26, 2016
Pension and SERPA Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 7,896	$ 8,359	$ 15,792	$ 16,718
Interest cost	21,269	22,707	42,538	45,414
Expected return on plan assets	(35,345)	(36,445)	(70,690)	(72,890)
Amortization of unrecognized: Prior service cost	254	255	508	510
Amortization of unrecognized: Net loss	10,998	11,588	21,996	23,176
Settlement loss	0	300	0	600
Net periodic benefit cost	5,072	6,764	10,144	13,528
Postretirement Healthcare Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	1,875	1,870	3,750	3,740
Interest cost	3,412	3,704	6,824	7,408
Expected return on plan assets	(3,156)	(3,017)	(6,312)	(6,034)
Amortization of unrecognized: Prior service cost	(543)	(701)	(1,086)	(1,402)
Amortization of unrecognized: Net loss	815	884	1,630	1,768
Net periodic benefit cost	$ 2,403	$ 2,740	$ 4,806	$ 5,480

Business Segments (Narrative) (

Business Segments (Narrative) (Detail)	6 Months Ended
	Jun. 25, 2017segment
Segment Reporting [Abstract]
Number of business segments	2

Business Segments (Information

Business Segments (Information By Strategic Business Units) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2017	Jun. 26, 2016	Jun. 25, 2017	Jun. 26, 2016
Segment Reporting Information [Line Items]
Motorcycles net revenue	$ 1,577,135	$ 1,670,113	$ 2,905,846	$ 3,246,723
Selling, administrative and engineering expense	291,450	319,844	563,800	611,612
Financial Services revenue	188,034	190,964	361,255	364,322
Operating income	401,582	412,322	693,060	801,150
Operating Segments | Motorcycles
Segment Reporting Information [Line Items]
Motorcycles net revenue	1,577,135	1,670,113	2,905,846	3,246,723
Gross profit	575,623	607,558	1,053,108	1,197,838
Selling, administrative and engineering expense	255,976	284,809	494,619	542,632
Operating income	319,647	322,749	558,489	655,206
Operating Segments | Financial Services
Segment Reporting Information [Line Items]
Financial Services revenue	188,034	190,964	361,255	364,322
Financial Services expense	106,099	101,391	226,684	218,378
Operating income	$ 81,935	$ 89,573	$ 134,571	$ 145,944

Commitments and Contingencies (

Commitments and Contingencies (Detail) - York, Pennsylvania Facility	6 Months Ended
	Jun. 25, 2017
Site Contingency [Line Items]
Site contingency portion of total cost, percentage	47.00%
Navy
Site Contingency [Line Items]
Site contingency portion of total cost, percentage	53.00%

Supplemental Consolidating Da69

Supplemental Consolidating Data (Operations) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2017	Jun. 26, 2016	Jun. 25, 2017	Jun. 26, 2016
Revenue:
Motorcycles and Related Products	$ 1,577,135	$ 1,670,113	$ 2,905,846	$ 3,246,723
Financial Services	188,034	190,964	361,255	364,322
Total revenue	1,765,169	1,861,077	3,267,101	3,611,045
Costs and expenses:
Motorcycles and Related Products cost of goods sold	1,001,512	1,062,555	1,852,738	2,048,885
Financial Services interest expense	44,408	42,895	87,697	88,814
Provision for credit losses	26,217	23,461	69,806	60,584
Selling, administrative and engineering expense	291,450	319,844	563,800	611,612
Total costs and expenses	1,363,587	1,448,755	2,574,041	2,809,895
Operating income	401,582	412,322	693,060	801,150
Investment income	577	688	1,456	1,454
Interest expense	7,726	7,094	15,399	14,262
Income before provision for income taxes	394,433	405,916	679,117	788,342
Provision for income taxes	135,566	125,485	233,881	257,422
Net income	258,867	280,431	445,236	530,920
Reportable Legal Entities | Motorcycles And Related Products Operations
Revenue:
Motorcycles and Related Products	1,580,109	1,673,379	2,910,727	3,252,018
Financial Services	0	0	0	0
Total revenue	1,580,109	1,673,379	2,910,727	3,252,018
Costs and expenses:
Motorcycles and Related Products cost of goods sold	1,001,512	1,062,555	1,852,738	2,048,885
Financial Services interest expense	0	0	0	0
Provision for credit losses	0	0	0	0
Selling, administrative and engineering expense	256,513	285,367	495,509	543,598
Total costs and expenses	1,258,025	1,347,922	2,348,247	2,592,483
Operating income	322,084	325,457	562,480	659,535
Investment income	577	43,688	107,456	184,454
Interest expense	7,726	7,094	15,399	14,262
Income before provision for income taxes	314,935	362,051	654,537	829,727
Provision for income taxes	106,035	93,788	185,192	204,361
Net income	208,900	268,263	469,345	625,366
Reportable Legal Entities | Financial Services Operations
Revenue:
Motorcycles and Related Products	0	0	0	0
Financial Services	188,712	191,935	362,269	365,456
Total revenue	188,712	191,935	362,269	365,456
Costs and expenses:
Motorcycles and Related Products cost of goods sold	0	0	0	0
Financial Services interest expense	44,408	42,895	87,697	88,814
Provision for credit losses	26,217	23,461	69,806	60,584
Selling, administrative and engineering expense	38,448	38,301	74,062	74,275
Total costs and expenses	109,073	104,657	231,565	223,673
Operating income	79,639	87,278	130,704	141,783
Investment income	0	0	0	0
Interest expense	0	0	0	0
Income before provision for income taxes	79,639	87,278	130,704	141,783
Provision for income taxes	29,531	31,697	48,689	53,061
Net income	50,108	55,581	82,015	88,722
Eliminations
Revenue:
Motorcycles and Related Products	(2,974)	(3,266)	(4,881)	(5,295)
Financial Services	(678)	(971)	(1,014)	(1,134)
Total revenue	(3,652)	(4,237)	(5,895)	(6,429)
Costs and expenses:
Motorcycles and Related Products cost of goods sold	0	0	0	0
Financial Services interest expense	0	0	0	0
Provision for credit losses	0	0	0	0
Selling, administrative and engineering expense	(3,511)	(3,824)	(5,771)	(6,261)
Total costs and expenses	(3,511)	(3,824)	(5,771)	(6,261)
Operating income	(141)	(413)	(124)	(168)
Investment income	0	(43,000)	(106,000)	(183,000)
Interest expense	0	0	0	0
Income before provision for income taxes	(141)	(43,413)	(106,124)	(183,168)
Provision for income taxes	0	0	0	0
Net income	$ (141)	$ (43,413)	$ (106,124)	$ (183,168)

Supplemental Consolidating Da70

Supplemental Consolidating Data (Balance Sheet) (Detail) - USD ($) $ in Thousands	Jun. 25, 2017	Dec. 31, 2016	Jun. 26, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 988,476	$ 759,984	$ 864,670	$ 722,209
Marketable securities	0	5,519	5,070
Accounts receivable, net	330,933	285,106	311,956
Finance receivables, net	2,338,533	2,076,261	2,457,974
Inventories	372,012	499,917	371,196
Restricted cash	63,225	52,574	78,078
Deferred income taxes	0	0	116,214
Other current assets	151,423	174,491	153,866
Total current assets	4,244,602	3,853,852	4,359,024
Finance receivables, net	4,994,002	4,759,197	4,824,071
Property, plant and equipment, net	946,326	981,593	951,309
Goodwill	54,630	53,391	54,542
Deferred income taxes	170,358	167,729	83,047
Other long-term assets	77,853	74,478	76,447
Total assets	10,487,771	9,890,240	10,348,440
Current liabilities:
Accounts payable	327,346	235,318	273,696
Accrued liabilities	533,412	486,652	485,811
Short-term debt	928,445	1,055,708	1,020,487
Current portion of long-term debt, net	1,565,558	1,084,884	732,773
Total current liabilities	3,354,761	2,862,562	2,512,767
Long-term debt, net	4,678,350	4,666,975	5,308,063
Pension liability	51,797	84,442	129,465
Postretirement healthcare benefits	166,023	173,267	188,846
Other long-term liabilities	190,673	182,836	188,292
Shareholders’ equity	2,046,167	1,920,158	2,021,007
Total liabilities and shareholders' equity	10,487,771	9,890,240	10,348,440
Reportable Legal Entities | Motorcycles And Related Products Operations
Current assets:
Cash and cash equivalents	586,892	425,540	445,662	400,443
Marketable securities		5,019	5,070
Accounts receivable, net	709,343	450,186	816,439
Finance receivables, net	0	0	0
Inventories	372,012	499,917	371,196
Restricted cash	0	0	0
Deferred income taxes			60,497
Other current assets	108,162	127,606	124,923
Total current assets	1,776,409	1,508,268	1,823,787
Finance receivables, net	0	0	0
Property, plant and equipment, net	905,244	942,634	916,388
Goodwill	54,630	53,391	54,542
Deferred income taxes	100,949	103,487	76,194
Other long-term assets	139,742	132,835	133,540
Total assets	2,976,974	2,740,615	3,004,451
Current liabilities:
Accounts payable	298,372	219,353	239,380
Accrued liabilities	441,102	395,907	397,645
Short-term debt	0	0	0
Current portion of long-term debt, net	0	0	0
Total current liabilities	739,474	615,260	637,025
Long-term debt, net	741,633	741,306	740,982
Pension liability	51,797	84,442	129,465
Postretirement healthcare benefits	166,023	173,267	188,846
Other long-term liabilities	155,086	150,391	157,835
Shareholders’ equity	1,122,961	975,949	1,150,298
Total liabilities and shareholders' equity	2,976,974	2,740,615	3,004,451
Reportable Legal Entities | Financial Services Operations
Current assets:
Cash and cash equivalents	401,584	334,444	419,008	321,766
Marketable securities		500	0
Accounts receivable, net	0	0	0
Finance receivables, net	2,338,533	2,076,261	2,457,974
Inventories	0	0	0
Restricted cash	63,225	52,574	78,078
Deferred income taxes			55,717
Other current assets	43,261	46,934	38,203
Total current assets	2,846,603	2,510,713	3,048,980
Finance receivables, net	4,994,002	4,759,197	4,824,071
Property, plant and equipment, net	41,082	38,959	34,921
Goodwill	0	0	0
Deferred income taxes	71,108	66,152	8,555
Other long-term assets	22,740	24,769	24,744
Total assets	7,975,535	7,399,790	7,941,271
Current liabilities:
Accounts payable	407,384	181,045	538,799
Accrued liabilities	92,217	90,910	97,150
Short-term debt	928,445	1,055,708	1,020,487
Current portion of long-term debt, net	1,565,558	1,084,884	732,773
Total current liabilities	2,993,604	2,412,547	2,389,209
Long-term debt, net	3,936,717	3,925,669	4,567,081
Pension liability	0	0	0
Postretirement healthcare benefits	0	0	0
Other long-term liabilities	32,714	29,697	27,621
Shareholders’ equity	1,012,500	1,031,877	957,360
Total liabilities and shareholders' equity	7,975,535	7,399,790	7,941,271
Eliminations
Current assets:
Cash and cash equivalents	0	0	0	$ 0
Marketable securities		0	0
Accounts receivable, net	(378,410)	(165,080)	(504,483)
Finance receivables, net	0	0	0
Inventories	0	0	0
Restricted cash	0	0	0
Deferred income taxes			0
Other current assets	0	(49)	(9,260)
Total current assets	(378,410)	(165,129)	(513,743)
Finance receivables, net	0	0	0
Property, plant and equipment, net	0	0	0
Goodwill	0	0	0
Deferred income taxes	(1,699)	(1,910)	(1,702)
Other long-term assets	(84,629)	(83,126)	(81,837)
Total assets	(464,738)	(250,165)	(597,282)
Current liabilities:
Accounts payable	(378,410)	(165,080)	(504,483)
Accrued liabilities	93	(165)	(8,984)
Short-term debt	0	0	0
Current portion of long-term debt, net	0	0	0
Total current liabilities	(378,317)	(165,245)	(513,467)
Long-term debt, net	0	0	0
Pension liability	0	0	0
Postretirement healthcare benefits	0	0	0
Other long-term liabilities	2,873	2,748	2,836
Shareholders’ equity	(89,294)	(87,668)	(86,651)
Total liabilities and shareholders' equity	$ (464,738)	$ (250,165)	$ (597,282)

Supplemental Consolidating Da71

Supplemental Consolidating Data (Cash Flows) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 25, 2017	Jun. 26, 2016	Jun. 25, 2017	Jun. 26, 2016
Cash flows from operating activities:
Net income	$ 258,867	$ 280,431	$ 445,236	$ 530,920
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of intangibles			107,578	100,956
Amortization of deferred loan origination costs			40,771	43,555
Amortization of financing origination fees			4,079	5,146
Pension and Other Postretirement Benefit Expense			14,950	19,005
Employee benefit plan contributions and payments			(37,307)	(35,189)
Stock compensation expense			17,497	15,797
Net change in wholesale finance receivables related to sales			(271,927)	(442,254)
Provision for credit losses	26,217	23,461	69,806	60,584
Gain on off-balance sheet securitization			0	(9,269)
Deferred income taxes			178	(3,548)
Other, net			(4,163)	(20,508)
Changes in current assets and liabilities:
Accounts receivable, net			(28,239)	(55,109)
Finance receivables - accrued interest and other			2,067	(125)
Inventories			138,942	225,586
Accounts payable and accrued liabilities			133,120	53,790
Derivative instruments			3,114	(1,474)
Other			(8,634)	(31,573)
Total adjustments			181,832	(74,630)
Net cash provided by operating activities			627,068	456,290
Cash flows from investing activities:
Capital expenditures			(69,816)	(107,531)
Origination of finance receivables			(1,977,839)	(1,991,384)
Collections on finance receivables			1,647,799	1,630,213
Proceeds from finance receivables sold			0	312,571
Sales and redemptions of marketable securities			6,916	40,000
Other			115	166
Net cash used by investing activities			(392,825)	(115,965)
Cash flows from financing activities:
Proceeds from issuance of medium-term notes			893,668	1,193,396
Repayments of medium-term notes			(400,000)	(450,000)
Repayments of securitization debt			(275,659)	(385,837)
Net decrease in credit facilities and unsecured commercial paper			(128,787)	(181,259)
Borrowings of asset-backed commercial paper			341,625	33,428
Repayments of asset-backed commercial paper			(77,732)	(34,989)
Net change in restricted cash			(7,248)	17,992
Dividends paid			(128,452)	(127,800)
Purchase of common stock for treasury			(243,055)	(269,411)
Excess tax benefits from share-based payments			0	331
Issuance of common stock under employee stock option plans			7,432	2,367
Net cash (used by) provided by financing activities			(18,208)	(201,782)
Effect of exchange rate changes on cash and cash equivalents			12,457	3,918
Net increase (decrease) in cash and cash equivalents			228,492	142,461
Cash and cash equivalents:
Cash and cash equivalents—beginning of period			759,984	722,209
Net increase in cash and cash equivalents			228,492	142,461
Cash and cash equivalents—end of period	988,476	864,670	988,476	864,670
Reportable Legal Entities | Motorcycles And Related Products Operations
Cash flows from operating activities:
Net income	208,900	268,263	469,345	625,366
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of intangibles			104,157	97,025
Amortization of deferred loan origination costs			0	0
Amortization of financing origination fees			327	330
Pension and Other Postretirement Benefit Expense			14,950	19,005
Employee benefit plan contributions and payments			(37,307)	(35,189)
Stock compensation expense			15,995	14,562
Net change in wholesale finance receivables related to sales			0	0
Provision for credit losses	0	0	0	0
Gain on off-balance sheet securitization				0
Deferred income taxes			4,975	798
Other, net			(6,422)	(20,505)
Changes in current assets and liabilities:
Accounts receivable, net			(241,569)	(416,198)
Finance receivables - accrued interest and other			0	0
Inventories			138,942	225,586
Accounts payable and accrued liabilities			112,916	23,420
Derivative instruments			3,106	(1,474)
Other			(8,683)	(33,237)
Total adjustments			101,387	(125,877)
Net cash provided by operating activities			570,732	499,489
Cash flows from investing activities:
Capital expenditures			(64,273)	(104,125)
Origination of finance receivables			0	0
Collections on finance receivables			0	0
Proceeds from finance receivables sold				0
Sales and redemptions of marketable securities			6,916	40,000
Other			115	166
Net cash used by investing activities			(57,242)	(63,959)
Cash flows from financing activities:
Proceeds from issuance of medium-term notes			0	0
Repayments of medium-term notes			0	0
Repayments of securitization debt			0	0
Net decrease in credit facilities and unsecured commercial paper			0	0
Borrowings of asset-backed commercial paper			0	0
Repayments of asset-backed commercial paper			0	0
Net change in restricted cash			0	0
Dividends paid			(128,452)	(127,800)
Purchase of common stock for treasury			(243,055)	(269,411)
Excess tax benefits from share-based payments				331
Issuance of common stock under employee stock option plans			7,432	2,367
Net cash (used by) provided by financing activities			(364,075)	(394,513)
Effect of exchange rate changes on cash and cash equivalents			11,937	4,202
Net increase (decrease) in cash and cash equivalents			161,352	45,219
Cash and cash equivalents:
Cash and cash equivalents—beginning of period			425,540	400,443
Net increase in cash and cash equivalents			161,352	45,219
Cash and cash equivalents—end of period	586,892	445,662	586,892	445,662
Reportable Legal Entities | Financial Services Operations
Cash flows from operating activities:
Net income	50,108	55,581	82,015	88,722
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of intangibles			3,421	3,931
Amortization of deferred loan origination costs			40,771	43,555
Amortization of financing origination fees			3,752	4,816
Pension and Other Postretirement Benefit Expense			0	0
Employee benefit plan contributions and payments			0	0
Stock compensation expense			1,502	1,235
Net change in wholesale finance receivables related to sales			0	0
Provision for credit losses	26,217	23,461	69,806	60,584
Gain on off-balance sheet securitization				(9,269)
Deferred income taxes			(4,586)	(3,906)
Other, net			2,134	(171)
Changes in current assets and liabilities:
Accounts receivable, net			0	0
Finance receivables - accrued interest and other			2,067	(125)
Inventories			0	0
Accounts payable and accrued liabilities			228,247	385,992
Derivative instruments			8	0
Other			98	1,664
Total adjustments			347,220	488,306
Net cash provided by operating activities			429,235	577,028
Cash flows from investing activities:
Capital expenditures			(5,543)	(3,406)
Origination of finance receivables			(4,205,868)	(4,507,717)
Collections on finance receivables			3,608,929	3,709,319
Proceeds from finance receivables sold				312,571
Sales and redemptions of marketable securities			0	0
Other			0	0
Net cash used by investing activities			(602,482)	(489,233)
Cash flows from financing activities:
Proceeds from issuance of medium-term notes			893,668	1,193,396
Repayments of medium-term notes			(400,000)	(450,000)
Repayments of securitization debt			(275,659)	(385,837)
Net decrease in credit facilities and unsecured commercial paper			(128,787)	(181,259)
Borrowings of asset-backed commercial paper			341,625	33,428
Repayments of asset-backed commercial paper			(77,732)	(34,989)
Net change in restricted cash			(7,248)	17,992
Dividends paid			(106,000)	(183,000)
Purchase of common stock for treasury			0	0
Excess tax benefits from share-based payments				0
Issuance of common stock under employee stock option plans			0	0
Net cash (used by) provided by financing activities			239,867	9,731
Effect of exchange rate changes on cash and cash equivalents			520	(284)
Net increase (decrease) in cash and cash equivalents			67,140	97,242
Cash and cash equivalents:
Cash and cash equivalents—beginning of period			334,444	321,766
Net increase in cash and cash equivalents			67,140	97,242
Cash and cash equivalents—end of period	401,584	419,008	401,584	419,008
Eliminations
Cash flows from operating activities:
Net income	(141)	(43,413)	(106,124)	(183,168)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of intangibles			0	0
Amortization of deferred loan origination costs			0	0
Amortization of financing origination fees			0	0
Pension and Other Postretirement Benefit Expense			0	0
Employee benefit plan contributions and payments			0	0
Stock compensation expense			0	0
Net change in wholesale finance receivables related to sales			(271,927)	(442,254)
Provision for credit losses	0	0	0	0
Gain on off-balance sheet securitization				0
Deferred income taxes			(211)	(440)
Other, net			125	168
Changes in current assets and liabilities:
Accounts receivable, net			213,330	361,089
Finance receivables - accrued interest and other			0	0
Inventories			0	0
Accounts payable and accrued liabilities			(208,043)	(355,622)
Derivative instruments			0	0
Other			(49)	0
Total adjustments			(266,775)	(437,059)
Net cash provided by operating activities			(372,899)	(620,227)
Cash flows from investing activities:
Capital expenditures			0	0
Origination of finance receivables			2,228,029	2,516,333
Collections on finance receivables			(1,961,130)	(2,079,106)
Proceeds from finance receivables sold				0
Sales and redemptions of marketable securities			0	0
Other			0	0
Net cash used by investing activities			266,899	437,227
Cash flows from financing activities:
Proceeds from issuance of medium-term notes			0	0
Repayments of medium-term notes			0	0
Repayments of securitization debt			0	0
Net decrease in credit facilities and unsecured commercial paper			0	0
Borrowings of asset-backed commercial paper			0	0
Repayments of asset-backed commercial paper			0	0
Net change in restricted cash			0	0
Dividends paid			106,000	183,000
Purchase of common stock for treasury			0	0
Excess tax benefits from share-based payments				0
Issuance of common stock under employee stock option plans			0	0
Net cash (used by) provided by financing activities			106,000	183,000
Effect of exchange rate changes on cash and cash equivalents			0	0
Net increase (decrease) in cash and cash equivalents			0	0
Cash and cash equivalents:
Cash and cash equivalents—beginning of period			0	0
Net increase in cash and cash equivalents			0	0
Cash and cash equivalents—end of period	$ 0	$ 0	$ 0	$ 0