Harley-Davidson (HOG) 10-Q 2 Nov 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 24, 2017	Oct. 27, 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	Sep. 24, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		168,295,171

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 24, 2017	Sep. 25, 2016	Sep. 24, 2017	Sep. 25, 2016
Revenue:
Motorcycles and Related Products	$ 962,136	$ 1,091,630	$ 3,867,982	$ 4,338,353
Financial Services	189,059	183,183	550,314	547,505
Total revenue	1,151,195	1,274,813	4,418,296	4,885,858
Costs and expenses:
Motorcycles and Related Products cost of goods sold	685,161	724,611	2,537,899	2,773,496
Financial Services interest expense	46,169	42,573	133,866	131,387
Financial Services provision for credit losses	29,253	36,543	99,059	97,127
Selling, administrative and engineering expense	293,904	292,710	857,704	904,322
Total costs and expenses	1,054,487	1,096,437	3,628,528	3,906,332
Operating income	96,708	178,376	789,768	979,526
Investment income	1,083	2,300	2,539	3,754
Interest expense	7,896	7,706	23,295	21,968
Income before provision for income taxes	89,895	172,970	769,012	961,312
Provision for income taxes	21,686	58,905	255,567	316,327
Net income	$ 68,209	$ 114,065	$ 513,445	$ 644,985
Earnings per common share:
Basic (in dollars per share)	$ 0.40	$ 0.64	$ 2.96	$ 3.57
Diluted (in dollars per share)	0.40	0.64	2.95	3.55
Cash dividends per common share (in dollars per share)	$ 0.365	$ 0.350	$ 1.095	$ 1.050

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 24, 2017	Sep. 25, 2016	Sep. 24, 2017	Sep. 25, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 68,209	$ 114,065	$ 513,445	$ 644,985
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	25,013	3,853	50,207	19,174
Derivative financial instruments	(17,407)	(2,031)	(36,871)	(7,374)
Marketable securities	0	(11)	1,194	(88)
Pension and postretirement benefit plans	7,257	7,572	21,769	22,715
Total other comprehensive income, net of tax	14,863	9,383	36,299	34,427
Comprehensive income	$ 83,072	$ 123,448	$ 549,744	$ 679,412

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 24, 2017	Dec. 31, 2016	Sep. 25, 2016
Current assets:
Cash and cash equivalents	$ 683,134	$ 759,984	$ 790,284
Marketable securities	0	5,519	5,038
Accounts receivable, net	343,124	285,106	346,176
Finance receivables, net	2,058,168	2,076,261	2,205,644
Inventories	469,091	499,917	426,547
Restricted cash	52,209	52,574	65,088
Deferred income taxes	0	0	123,609
Other current assets	182,416	174,491	139,958
Total current assets	3,788,142	3,853,852	4,102,344
Finance receivables, net	5,042,857	4,759,197	4,944,322
Property, plant and equipment, net	934,615	981,593	954,475
Goodwill	55,898	53,391	54,663
Deferred income taxes	180,575	167,729	80,831
Other long-term assets	86,272	74,478	75,591
Total assets	10,088,359	9,890,240	10,212,226
Current liabilities:
Accounts payable	277,117	235,318	291,594
Accrued liabilities	573,958	486,652	506,533
Short-term debt	834,875	1,055,708	1,055,428
Current portion of long-term debt, net	1,530,401	1,084,884	700,152
Total current liabilities	3,216,351	2,862,562	2,553,707
Long-term debt, net	4,607,791	4,666,975	5,170,609
Pension liability	52,471	84,442	120,494
Postretirement healthcare liability	162,925	173,267	182,825
Other long-term liabilities	192,001	182,836	192,223
Commitments and contingencies
Shareholders’ equity:
Preferred stock, none issued	0	0	0
Common stock	1,813	1,806	3,454
Additional paid-in-capital	1,413,254	1,381,862	1,364,694
Retained earnings	1,660,997	1,337,673	9,416,583
Accumulated other comprehensive loss	(529,082)	(565,381)	(580,778)
Treasury stock, at cost	(690,162)	(235,802)	(8,211,585)
Total shareholders' equity	1,856,820	1,920,158	1,992,368
Total liabilities and shareholders' equity	10,088,359	9,890,240	10,212,226
Variable interest entities
Current assets:
Finance receivables, net	204,873	225,289	236,561
Restricted Cash and Cash Equivalents	55,307	57,057	69,364
Other current assets	2,440	2,781	3,043
Finance receivables, net	579,936	643,047	754,970
Current liabilities:
Current portion of long-term debt, net	225,267	241,396	261,188
Long-term debt, net	$ 484,874	$ 554,879	$ 664,431

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares	Sep. 24, 2017	Dec. 31, 2016	Sep. 25, 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	9 Months Ended
	Sep. 24, 2017	Sep. 25, 2016
Cash flows from operating activities:
Net cash provided by operating activities	$ 949,075	$ 927,809
Cash flows from investing activities:
Capital expenditures	(114,022)	(162,726)
Origination of finance receivables	(2,927,372)	(3,009,479)
Collections on finance receivables	2,480,122	2,440,466
Proceeds from finance receivables sold	0	312,571
Sales and redemptions of marketable securities	6,916	40,014
Other	356	251
Net cash used by investing activities	(554,000)	(378,903)
Cash flows from financing activities:
Proceeds from issuance of medium-term notes	893,668	1,193,396
Repayments of medium-term notes	(400,000)	(451,336)
Repayments of securitization debt	(367,298)	(535,616)
Borrowings of asset-backed commercial paper	371,253	33,428
Repayments from Issuance of Asset-Backed Commercial Paper	129,690	55,170
Net decrease in credit facilities and unsecured commercial paper	(225,038)	(146,328)
Net change in restricted cash	3,767	30,981
Dividends paid	(190,121)	(190,387)
Purchase of common stock for treasury	(465,167)	(374,234)
Excess tax benefits from share-based payments	0	1,291
Issuance of common stock under employee stock option plans	7,884	6,444
Net cash used by financing activities	(500,742)	(487,531)
Effect of exchange rate changes on cash and cash equivalents	28,817	6,700
Net increase (decrease) in cash and cash equivalents	(76,850)	68,075
Cash and cash equivalents:
Cash and cash equivalents—beginning of period	759,984	722,209
Net increase in cash and cash equivalents	(76,850)	68,075
Cash and cash equivalents—end of period	$ 683,134	$ 790,284

Basis of Presentation and Use o

Basis of Presentation and Use of Estimates	9 Months Ended
	Sep. 24, 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 September 24, 2017 and September 25, 2016 , the consolidated statements of income for the three and nine month periods then ended, the consolidated statements of comprehensive income for the three and nine month periods then ended and the consolidated statements of cash flows for the nine 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	9 Months Ended
	Sep. 24, 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. 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 does not expect the adoption of ASU 2016-01 to have a material impact on its financial statements. 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 does not expect the adoption of ASU 2016-15 to have a material impact on its financial statements. 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 14. In August 2017, the FASB issued ASU No. 2017-12 Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities (ASU 2017-12). ASU 2017-12 amends ASC 815, Derivatives and Hedging to improve the financial reporting of hedging relationships and to simplify the application of the hedge accounting guidance. The ASU makes various updates to the hedge accounting model, including changing the recognition and presentation of changes in the fair value of the hedging instrument and amending disclosure requirements, among other things. The Company is required to adopt ASU 2017-12 for fiscal years beginning after December 15, 2018, and for interim periods within those fiscal years. Early adoption is permitted in any interim period after issuance of the ASU. For cash flow and net investment hedges existing at the date of adoption, the Company must apply a cumulative-effect adjustment as of the beginning of the fiscal year in which the standard is adopted. The amendments related to presentation and disclosure are required prospectively. The Company is currently evaluating the impact of adoption of ASU 2017-12.

Additional Balance Sheet and Ca

Additional Balance Sheet and Cash Flow Information	9 Months Ended
	Sep. 24, 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): September 24, December 31, September 25, Available-for-sale securities: corporate bonds $ — $ 5,519 $ 5,038 Trading securities: mutual funds 45,726 38,119 39,063 Total marketable securities $ 45,726 $ 43,638 $ 44,101 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 nine months of 2017 and 2016 , unrealized losses were not material. There were no available-for-sale securities outstanding at September 24, 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 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): September 24, December 31, September 25, Raw materials and work in process $ 155,947 $ 140,639 $ 159,209 Motorcycle finished goods 232,141 285,281 182,019 Parts and accessories and general merchandise 129,270 122,264 134,587 Inventory at lower of FIFO cost or net realizable value 517,358 548,184 475,815 Excess of FIFO over LIFO cost (48,267 ) (48,267 ) (49,268 ) Total inventories, net $ 469,091 $ 499,917 $ 426,547 Operating Cash Flow The reconciliation of net income to net cash provided by operating activities is as follows (in thousands): Nine months ended September 24, September 25, Cash flows from operating activities: Net income $ 513,445 $ 644,985 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization of intangibles 163,974 154,565 Amortization of deferred loan origination costs 62,052 65,445 Amortization of financing origination fees 6,112 7,212 Provision for long-term employee benefits 22,427 28,508 Employee benefit plan contributions and payments (43,060 ) (47,658 ) Stock compensation expense 25,581 24,909 Net change in wholesale finance receivables related to sales 36,678 (169,599 ) Provision for credit losses 99,059 97,127 Gain on off-balance sheet asset-backed securitization — (9,269 ) Loss on debt extinguishment — 118 Deferred income taxes (5,151 ) (11,261 ) Other, net (11,122 ) (23,270 ) Changes in current assets and liabilities: Accounts receivable, net (29,167 ) (86,796 ) Finance receivables - accrued interest and other 317 364 Inventories 50,016 173,975 Accounts payable and accrued liabilities 88,758 97,190 Derivative instruments 2,752 (1,992 ) Other (33,596 ) (16,744 ) Total adjustments 435,630 282,824 Net cash provided by operating activities $ 949,075 $ 927,809

Finance Receivables

Finance Receivables	9 Months Ended
	Sep. 24, 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): September 24, December 31, September 25, Retail $ 6,336,447 $ 5,982,211 $ 6,165,999 Wholesale 960,160 1,026,590 1,155,483 Total finance receivables 7,296,607 7,008,801 7,321,482 Allowance for credit losses (195,582 ) (173,343 ) (171,516 ) Finance receivables, net $ 7,101,025 $ 6,835,458 $ 7,149,966 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 September 24, 2017 Retail Wholesale Total Balance, beginning of period $ 185,899 $ 7,629 $ 193,528 Provision for credit losses 30,964 (1,711 ) 29,253 Charge-offs (37,783 ) — (37,783 ) Recoveries 10,584 — 10,584 Balance, end of period $ 189,664 $ 5,918 $ 195,582 Three months ended September 25, 2016 Retail Wholesale Total Balance, beginning of period $ 152,998 $ 8,355 $ 161,353 Provision for credit losses 38,143 (1,600 ) 36,543 Charge-offs (35,749 ) — (35,749 ) Recoveries 9,369 — 9,369 Balance, end of period $ 164,761 $ 6,755 $ 171,516 Nine months ended September 24, 2017 Retail Wholesale Total Balance, beginning of period $ 166,810 $ 6,533 $ 173,343 Provision for credit losses 99,674 (615 ) 99,059 Charge-offs (114,081 ) — (114,081 ) Recoveries 37,261 — 37,261 Balance, end of period $ 189,664 $ 5,918 $ 195,582 Nine months ended September 25, 2016 Retail Wholesale Total Balance, beginning of period $ 139,320 $ 7,858 $ 147,178 Provision for credit losses 98,230 (1,103 ) 97,127 Charge-offs (101,853 ) — (101,853 ) Recoveries 32,355 — 32,355 Other (a) (3,291 ) — (3,291 ) Balance, end of period $ 164,761 $ 6,755 $ 171,516 (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): September 24, 2017 Retail Wholesale Total Allowance for credit losses, ending balance: Individually evaluated for impairment $ — $ — $ — Collectively evaluated for impairment 189,664 5,918 195,582 Total allowance for credit losses $ 189,664 $ 5,918 $ 195,582 Finance receivables, ending balance: Individually evaluated for impairment $ — $ — $ — Collectively evaluated for impairment 6,336,447 960,160 7,296,607 Total finance receivables $ 6,336,447 $ 960,160 $ 7,296,607 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 September 25, 2016 Retail Wholesale Total Allowance for credit losses, ending balance: Individually evaluated for impairment $ — $ — $ — Collectively evaluated for impairment 164,761 6,755 171,516 Total allowance for credit losses $ 164,761 $ 6,755 $ 171,516 Finance receivables, ending balance: Individually evaluated for impairment $ — $ — $ — Collectively evaluated for impairment 6,165,999 1,155,483 7,321,482 Total finance receivables $ 6,165,999 $ 1,155,483 $ 7,321,482 There were no wholesale finance receivables at September 24, 2017 , December 31, 2016 , or September 25, 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 September 24, 2017 , December 31, 2016 and September 25, 2016 , all retail finance receivables were accounted for as interest-earning receivables, of which $32.7 million , $40.4 million and $31.3 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 September 24, 2017 , December 31, 2016 or September 25, 2016 . At September 24, 2017 , December 31, 2016 and September 25, 2016 , $1.3 million , $0.3 million , and $0.4 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): September 24, 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 $ 6,132,997 $ 126,705 $ 44,083 $ 32,662 $ 203,450 $ 6,336,447 Wholesale 958,429 329 95 1,307 1,731 960,160 Total $ 7,091,426 $ 127,034 $ 44,178 $ 33,969 $ 205,181 $ 7,296,607 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 September 25, 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 $ 5,973,108 $ 119,709 $ 41,866 $ 31,316 $ 192,891 $ 6,165,999 Wholesale 1,154,617 366 114 386 866 1,155,483 Total $ 7,127,725 $ 120,075 $ 41,980 $ 31,702 $ 193,757 $ 7,321,482 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): September 24, 2017 December 31, 2016 September 25, 2016 Prime $ 5,107,718 $ 4,768,420 $ 4,900,752 Sub-prime 1,228,729 1,213,791 1,265,247 Total $ 6,336,447 $ 5,982,211 $ 6,165,999 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): September 24, 2017 December 31, 2016 September 25, 2016 Doubtful $ 4,666 $ 1,333 $ — Substandard 8,724 1,773 16,244 Special Mention 5,261 30,152 — Medium Risk 4,987 14,620 7,667 Low Risk 936,522 978,712 1,131,572 Total $ 960,160 $ 1,026,590 $ 1,155,483

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 24, 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): September 24, 2017 Balance Quoted Prices in Significant Significant Assets: Cash equivalents $ 425,000 $ 425,000 $ — $ — Marketable securities 45,726 45,726 — — Derivatives 724 — 724 — Total $ 471,450 $ 470,726 $ 724 $ — Liabilities: Derivatives $ 32,414 $ — $ 32,414 $ — 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 $ — September 25, 2016 Balance Quoted Prices in Significant Significant Assets: Cash equivalents $ 526,228 $ 372,850 $ 153,378 $ — Marketable securities 44,101 39,063 5,038 — Derivatives 6,606 — 6,606 — Total $ 576,935 $ 411,913 $ 165,022 $ — Liabilities: Derivatives $ 1,388 $ — $ 1,388 $ — 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 $21.3 million , $19.3 million and $18.5 million at September 24, 2017 , December 31, 2016 and September 25, 2016 , respectively, for which the fair value adjustment was $9.0 million , $9.3 million and $8.2 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	9 Months Ended
	Sep. 24, 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): September 24, 2017 December 31, 2016 September 25, 2016 Fair Value Carrying Value Fair Value Carrying Value Fair Value Carrying Value Assets: Cash and cash equivalents $ 683,134 $ 683,134 $ 759,984 $ 759,984 $ 790,284 $ 790,284 Marketable securities $ 45,726 $ 45,726 $ 43,638 $ 43,638 $ 44,101 $ 44,101 Derivatives $ 724 $ 724 $ 29,034 $ 29,034 $ 6,606 $ 6,606 Finance receivables, net $ 7,159,632 $ 7,101,025 $ 6,921,037 $ 6,835,458 $ 7,233,923 $ 7,149,966 Restricted cash $ 63,380 $ 63,380 $ 67,147 $ 67,147 $ 79,661 $ 79,661 Liabilities: Derivatives $ 32,414 $ 32,414 $ 142 $ 142 $ 1,388 $ 1,388 Unsecured commercial paper $ 834,875 $ 834,875 $ 1,055,708 $ 1,055,708 $ 1,055,428 $ 1,055,428 Asset-backed U.S. commercial paper conduit facilities $ 280,308 $ 280,308 $ — $ — $ — $ — Asset-backed Canadian commercial paper conduit facility $ 122,130 $ 122,130 $ 149,338 $ 149,338 $ 140,488 $ 140,488 Medium-term notes $ 4,612,083 $ 4,564,124 $ 4,139,462 $ 4,064,940 $ 4,199,753 $ 4,063,510 Senior unsecured notes $ 774,693 $ 741,797 $ 744,552 $ 741,306 $ 800,818 $ 741,144 Asset-backed securitization debt $ 430,038 $ 429,833 $ 797,688 $ 796,275 $ 929,775 $ 925,619 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	9 Months Ended
	Sep. 24, 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): September 24, 2017 December 31, 2016 September 25, 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) $ 746,378 $ 439 $ 32,352 $ 554,551 $ 28,528 $ 142 $ 615,251 $ 6,337 $ 1,193 Commodity contracts (c) 1,273 — 62 992 177 — 1,154 110 — Total $ 747,651 $ 439 $ 32,414 $ 555,543 $ 28,705 $ 142 $ 616,405 $ 6,447 $ 1,193 September 24, 2017 December 31, 2016 September 25, 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 $ 4,234 $ 285 $ — $ 5,025 $ 329 $ — $ 4,488 $ 159 $ 195 Total $ 4,234 $ 285 $ — $ 5,025 $ 329 $ — $ 4,488 $ 159 $ 195 (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 Nine months ended Cash Flow Hedges September 24, September 25, September 24, September 25, Foreign currency contracts $ (35,687 ) $ (938 ) $ (59,335 ) $ (5,445 ) Commodity contracts (5 ) 43 (191 ) (30 ) Treasury rate locks — — (719 ) — Total $ (35,692 ) $ (895 ) $ (60,245 ) $ (5,475 ) Amount of Gain/(Loss) Reclassified from AOCL into Income Three months ended Nine months ended Expected to be Reclassified Cash Flow Hedges September 24, September 25, September 24, September 25, Over the Next Twelve Months Foreign currency contracts (a) $ (7,901 ) $ 2,399 $ (1,428 ) $ 6,806 $ (31,324 ) Commodity contracts (a) (16 ) 21 49 (298 ) (62 ) Treasury rate locks (b) (126 ) (90 ) (315 ) (271 ) (506 ) Total $ (8,043 ) $ 2,330 $ (1,694 ) $ 6,237 $ (31,892 ) (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 nine months ended September 24, 2017 and September 25, 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 Nine months ended Derivatives Not Designated As Hedges September 24, September 25, September 24, September 25, Commodity contracts (a) $ 433 $ 45 $ 259 $ (179 ) Total $ 433 $ 45 $ 259 $ (179 ) (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	9 Months Ended
	Sep. 24, 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 September 24, 2017 Foreign currency translation adjustments Marketable securities Derivative financial instruments Pension and postretirement benefit plans Total Balance, beginning of period $ (42,938 ) $ — $ (6,940 ) $ (494,067 ) $ (543,945 ) Other comprehensive income (loss) before reclassifications 26,754 — (35,692 ) — (8,938 ) Income tax (benefit) expense (1,741 ) — 13,220 — 11,479 Net other comprehensive income (loss) before reclassifications 25,013 — (22,472 ) — 2,541 Reclassifications: Realized (gains) losses - foreign currency contracts (a) — — 7,901 — 7,901 Realized (gains) losses - commodities contracts (a) — — 16 — 16 Realized (gains) losses - treasury rate locks (b) — — 126 — 126 Prior service credits (c) — — — (287 ) (287 ) Actuarial losses (c) — — — 11,813 11,813 Total reclassifications before tax — — 8,043 11,526 19,569 Income tax benefit — — (2,978 ) (4,269 ) (7,247 ) Net reclassifications — — 5,065 7,257 12,322 Other comprehensive income (loss) 25,013 — (17,407 ) 7,257 14,863 Balance, end of period $ (17,925 ) $ — $ (24,347 ) $ (486,810 ) $ (529,082 ) Three months ended September 25, 2016 Foreign currency translation adjustments Marketable securities Derivative financial instruments Pension and postretirement benefit plans Total Balance, beginning of period $ (43,523 ) $ (1,171 ) $ 543 $ (546,010 ) $ (590,161 ) Other comprehensive income (loss) before reclassifications 3,574 (18 ) (895 ) — 2,661 Income tax expense 279 7 332 — 618 Net other comprehensive income (loss) before reclassifications 3,853 (11 ) (563 ) — 3,279 Reclassifications: Realized (gains) losses - foreign currency contracts (a) — — (2,399 ) — (2,399 ) Realized (gains) losses - commodities contracts (a) — — (21 ) — (21 ) Realized (gains) losses - treasury rate locks (b) — — 90 — 90 Prior service credits (c) — — — (446 ) (446 ) Actuarial losses (c) — — — 12,472 12,472 Total reclassifications before tax — — (2,330 ) 12,026 9,696 Income tax expense (benefit) — — 862 (4,454 ) (3,592 ) Net reclassifications — — (1,468 ) 7,572 6,104 Other comprehensive income (loss) 3,853 (11 ) (2,031 ) 7,572 9,383 Balance, end of period $ (39,670 ) $ (1,182 ) $ (1,488 ) $ (538,438 ) $ (580,778 ) Nine months ended September 24, 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 51,834 1,896 (60,245 ) — (6,515 ) Income tax (benefit) expense (1,627 ) (702 ) 22,307 — 19,978 Net other comprehensive income (loss) before reclassifications 50,207 1,194 (37,938 ) — 13,463 Reclassifications: Realized (gains) losses - foreign currency contracts (a) — — 1,428 — 1,428 Realized (gains) losses - commodities contracts (a) — — (49 ) — (49 ) Realized (gains) losses - treasury rate locks (b) — — 315 — 315 Prior service credits (c) — — — (865 ) (865 ) Actuarial losses (c) — — — 35,439 35,439 Total reclassifications before tax — — 1,694 34,574 36,268 Income tax benefit — — (627 ) (12,805 ) (13,432 ) Net reclassifications — — 1,067 21,769 22,836 Other comprehensive income (loss) 50,207 1,194 (36,871 ) 21,769 36,299 Balance, end of period $ (17,925 ) $ — $ (24,347 ) $ (486,810 ) $ (529,082 ) Nine months ended September 25, 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 20,661 (140 ) (5,475 ) — 15,046 Income tax (benefit) expense (1,487 ) 52 2,028 — 593 Net other comprehensive income (loss) before reclassifications 19,174 (88 ) (3,447 ) — 15,639 Reclassifications: Realized (gains) losses - foreign currency contracts (a) — — (6,806 ) — (6,806 ) Realized (gains) losses - commodities contracts (a) — — 298 — 298 Realized (gains) losses - treasury rate locks (b) — — 271 — 271 Prior service credits (c) — — — (1,338 ) (1,338 ) Actuarial losses (c) — — — 37,416 37,416 Total reclassifications before tax — — (6,237 ) 36,078 29,841 Income tax expense (benefit) — — 2,310 (13,363 ) (11,053 ) Net reclassifications — — (3,927 ) 22,715 18,788 Other comprehensive income (loss) 19,174 (88 ) (7,374 ) 22,715 34,427 Balance, end of period $ (39,670 ) $ (1,182 ) $ (1,488 ) $ (538,438 ) $ (580,778 ) (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 14 for information related to pension and postretirement benefit plans.

Debt

Debt	9 Months Ended
	Sep. 24, 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): September 24, December 31, September 25, Unsecured commercial paper $ 834,875 $ 1,055,708 $ 1,055,428 Total short-term debt $ 834,875 $ 1,055,708 $ 1,055,428 Debt with a contractual term greater than one year is generally classified as long-term debt and consisted of the following (in thousands): September 24, December 31, September 25, Secured debt (Note 10) Asset-backed Canadian commercial paper conduit facility $ 122,130 $ 149,338 $ 140,488 Asset-backed U.S. commercial paper conduit facilities 280,308 — — Asset-backed securitization debt 430,457 797,755 927,539 Less: unamortized discount and debt issuance costs (624 ) (1,480 ) (1,920 ) Total secured debt 832,271 945,613 1,066,107 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 877,488 877,488 877,488 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 (21,567 ) (21,242 ) (22,834 ) Gross long-term debt 6,138,192 5,751,859 5,870,761 Less: current portion of long-term debt, net of unamortized discount and debt issuance costs (1,530,401 ) (1,084,884 ) (700,152 ) Total long-term debt $ 4,607,791 $ 4,666,975 $ 5,170,609

Asset-Backed Financing

Asset-Backed Financing	9 Months Ended
	Sep. 24, 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): September 24, 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 $ 511,643 $ (15,798 ) $ 40,385 $ 1,513 $ 537,743 $ 429,833 Asset-backed U.S. commercial paper conduit facilities 298,197 (9,233 ) 14,922 927 304,813 280,308 Unconsolidated VIEs Asset-backed Canadian commercial paper conduit facility 139,413 (2,560 ) 8,073 350 145,276 122,130 Total on-balance sheet assets and liabilities $ 949,253 $ (27,591 ) $ 63,380 $ 2,790 $ 987,832 $ 832,271 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 September 25, 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 $ 1,019,378 $ (27,847 ) $ 69,364 $ 2,893 $ 1,063,788 $ 925,619 Asset-backed U.S. commercial paper conduit facilities — — — 150 150 — Unconsolidated VIEs Asset-backed Canadian commercial paper conduit facility 155,130 (3,244 ) 10,297 351 162,534 140,488 Total on-balance sheet assets and liabilities $ 1,174,508 $ (31,091 ) $ 79,661 $ 3,394 $ 1,226,472 $ 1,066,107 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 nine months ended September 24, 2017 or September 25, 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 September 24, 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 , April , and July 2017, the Company transferred $333.4 million , $28.2 million , and $34.1 million , respectively, of U.S. retail motorcycle finance receivables to an SPE which, in turn, issued $300.0 million , $24.0 million , and $29.6 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 September 25, 2016 . On-Balance Sheet Asset-Backed Canadian Commercial Paper Conduit Facility In June 2017, 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$220.0 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$220.0 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 between the Company and the lenders, as of September 24, 2017 , the Canadian Conduit has 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 $23.1 million at September 24, 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 Third quarter — — — — $ 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 nine months ended September 24, 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 September 24, 2017 , the assets of this off-balance sheet asset-backed securitization VIE were $165.2 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 September 24, 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 financings, 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 $1.5 million and $1.0 million during the nine months ended September 24, 2017 and September 25, 2016 , respectively. The unpaid principal balance of retail motorcycle finance receivables serviced by the Company was as follows (in thousands): September 24, December 31, September 25, On-balance sheet retail motorcycle finance receivables $ 6,185,144 $ 5,839,467 $ 6,017,065 Off-balance sheet retail motorcycle finance receivables 165,169 236,706 262,583 Total serviced retail motorcycle finance receivables $ 6,350,313 $ 6,076,173 $ 6,279,648 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: September 24, December 31, September 25, On-balance sheet retail motorcycle finance receivables $ 203,450 $ 221,393 $ 192,891 Off-balance sheet retail motorcycle finance receivables 1,720 1,858 1,235 Total serviced retail motorcycle finance receivables $ 205,170 $ 223,251 $ 194,126 Credit losses, net of recoveries for the retail motorcycle finance receivables serviced by the Company were as follows (in thousands): Three months ended Nine months ended September 24, September 25, September 24, September 25, On-balance sheet retail motorcycle finance receivables $ 27,199 $ 26,380 $ 76,820 $ 69,498 Off-balance sheet retail motorcycle finance receivables 299 270 865 285 Total serviced retail motorcycle finance receivables $ 27,498 $ 26,650 $ 77,685 $ 69,783

Income Taxes

Income Taxes	9 Months Ended
	Sep. 24, 2017
Income Tax Disclosure [Abstract]
Income Taxes	11. Income Taxes The Company’s 2017 income tax rate for the nine months ended September 24, 2017 was 33.2% compared to 32.9% for the nine months ended September 25, 2016 . In the third quarter of 2017, the Company's income tax rate was favorably impacted by increased research and development tax credits, as well as benefits recognized in connection with the release of tax reserves associated with tax audits that were closed. The tax provision for income taxes for the nine months ended September 25, 2016 included discrete benefits also associated with the closing of tax audits during the period.

Product Warranty and Safety Rec

Product Warranty and Safety Recall Campaigns	9 Months Ended
	Sep. 24, 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 Nine months ended September 24, September 25, September 24, September 25, Balance, beginning of period $ 80,681 $ 82,480 $ 79,482 $ 74,217 Warranties issued during the period 11,802 11,107 46,638 49,321 Settlements made during the period (22,322 ) (30,512 ) (62,855 ) (71,354 ) Recalls and changes to pre-existing warranty liabilities 646 22,448 7,542 33,339 Balance, end of period $ 70,807 $ 85,523 $ 70,807 $ 85,523 The liability for recall campaigns was $6.2 million , $13.6 million and $19.5 million as of September 24, 2017 , December 31, 2016 and September 25, 2016 , respectively.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 24, 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 Nine months ended September 24, September 25, September 24, September 25, Numerator : Net income used in computing basic and diluted earnings per share $ 68,209 $ 114,065 $ 513,445 $ 644,985 Denominator : Denominator for basic earnings per share - weighted-average common shares 169,850 178,438 173,362 180,779 Effect of dilutive securities - employee stock compensation plan 838 882 941 803 Denominator for diluted earnings per share - adjusted weighted-average shares outstanding 170,688 179,320 174,303 181,582 Earnings per common share: Basic $ 0.40 $ 0.64 $ 2.96 $ 3.57 Diluted $ 0.40 $ 0.64 $ 2.95 $ 3.55 Outstanding options to purchase 0.9 million and 1.2 million shares of common stock for the three months ended September 24, 2017 and September 25, 2016 , respectively, and 0.8 million and 1.5 million shares of common stock for the nine months ended September 24, 2017 and September 25, 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 nine month periods ended September 24, 2017 and September 25, 2016 .

Employee Benefit Plans

Employee Benefit Plans	9 Months Ended
	Sep. 24, 2017
Retirement Benefits [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 Nine months ended September 24, September 25, September 24, September 25, Pension and SERPA Benefits Service cost $ 7,896 $ 8,359 $ 23,688 $ 25,077 Interest cost 21,269 22,707 63,807 68,121 Expected return on plan assets (35,345 ) (36,445 ) (106,035 ) (109,335 ) Amortization of unrecognized: Prior service cost 256 255 764 765 Net loss 10,998 11,588 32,994 34,764 Settlement loss — 300 — 900 Net periodic benefit cost $ 5,074 $ 6,764 $ 15,218 $ 20,292 Postretirement Healthcare Benefits Service cost $ 1,875 $ 1,870 $ 5,625 $ 5,610 Interest cost 3,412 3,704 10,236 11,112 Expected return on plan assets (3,156 ) (3,017 ) (9,468 ) (9,051 ) Amortization of unrecognized: Prior service credit (543 ) (701 ) (1,629 ) (2,103 ) Net loss 815 884 2,445 2,652 Net periodic benefit cost $ 2,403 $ 2,740 $ 7,209 $ 8,220 During the first nine months 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	9 Months Ended
	Sep. 24, 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 Nine months ended September 24, September 25, September 24, September 25, Motorcycles net revenue $ 962,136 $ 1,091,630 $ 3,867,982 $ 4,338,353 Gross profit 276,975 367,019 1,330,083 1,564,857 Selling, administrative and engineering expense 257,327 258,090 751,946 800,722 Operating income from Motorcycles 19,648 108,929 578,137 764,135 Financial Services revenue 189,059 183,183 550,314 547,505 Financial Services expense 111,999 113,736 338,683 332,114 Operating income from Financial Services 77,060 69,447 211,631 215,391 Operating income $ 96,708 $ 178,376 $ 789,768 $ 979,526

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 24, 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 Sheets, 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 other long-term 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	9 Months Ended
	Sep. 24, 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 September 24, 2017 HDMC Entities HDFS Entities Eliminations Consolidated Revenue: Motorcycles and Related Products $ 964,942 $ — $ (2,806 ) $ 962,136 Financial Services — 189,932 (873 ) 189,059 Total revenue 964,942 189,932 (3,679 ) 1,151,195 Costs and expenses: Motorcycles and Related Products cost of goods sold 685,161 — — 685,161 Financial Services interest expense — 46,169 — 46,169 Financial Services provision for credit losses — 29,253 — 29,253 Selling, administrative and engineering expense 257,723 39,383 (3,202 ) 293,904 Total costs and expenses 942,884 114,805 (3,202 ) 1,054,487 Operating income 22,058 75,127 (477 ) 96,708 Investment income 91,083 — (90,000 ) 1,083 Interest expense 7,896 — — 7,896 Income before provision for income taxes 105,245 75,127 (90,477 ) 89,895 Provision for income taxes (6,134 ) 27,820 — 21,686 Net income $ 111,379 $ 47,307 $ (90,477 ) $ 68,209 Nine months ended September 24, 2017 HDMC Entities HDFS Entities Eliminations Consolidated Revenue: Motorcycles and Related Products $ 3,875,669 $ — $ (7,687 ) $ 3,867,982 Financial Services — 552,201 (1,887 ) 550,314 Total revenue 3,875,669 552,201 (9,574 ) 4,418,296 Costs and expenses: Motorcycles and Related Products cost of goods sold 2,537,899 — — 2,537,899 Financial Services interest expense — 133,866 — 133,866 Financial Services provision for credit losses — 99,059 — 99,059 Selling, administrative and engineering expense 753,232 113,445 (8,973 ) 857,704 Total costs and expenses 3,291,131 346,370 (8,973 ) 3,628,528 Operating income 584,538 205,831 (601 ) 789,768 Investment income 198,539 — (196,000 ) 2,539 Interest expense 23,295 — — 23,295 Income before provision for income taxes 759,782 205,831 (196,601 ) 769,012 Provision for income taxes 179,058 76,509 — 255,567 Net income $ 580,724 $ 129,322 $ (196,601 ) $ 513,445 Three months ended September 25, 2016 HDMC Entities HDFS Entities Eliminations Consolidated Revenue: Motorcycles and Related Products $ 1,094,148 $ — $ (2,518 ) $ 1,091,630 Financial Services — 183,706 (523 ) 183,183 Total revenue 1,094,148 183,706 (3,041 ) 1,274,813 Costs and expenses: Motorcycles and Related Products cost of goods sold 724,611 — — 724,611 Financial Services interest expense — 42,573 — 42,573 Financial Services provision for credit losses — 36,543 — 36,543 Selling, administrative and engineering expense 258,541 37,139 (2,970 ) 292,710 Total costs and expenses 983,152 116,255 (2,970 ) 1,096,437 Operating income 110,996 67,451 (71 ) 178,376 Investment income 2,300 — — 2,300 Interest expense 7,706 — — 7,706 Income before provision for income taxes 105,590 67,451 (71 ) 172,970 Provision for income taxes 33,895 25,010 — 58,905 Net income $ 71,695 $ 42,441 $ (71 ) $ 114,065 Nine months ended September 25, 2016 HDMC Entities HDFS Entities Eliminations Consolidated Revenue: Motorcycles and Related Products $ 4,346,166 $ — $ (7,813 ) $ 4,338,353 Financial Services — 549,162 (1,657 ) 547,505 Total revenue 4,346,166 549,162 (9,470 ) 4,885,858 Costs and expenses: Motorcycles and Related Products cost of goods sold 2,773,496 — — 2,773,496 Financial Services interest expense — 131,387 — 131,387 Financial Services provision for credit losses — 97,127 — 97,127 Selling, administrative and engineering expense 802,139 111,414 (9,231 ) 904,322 Total costs and expenses 3,575,635 339,928 (9,231 ) 3,906,332 Operating income 770,531 209,234 (239 ) 979,526 Investment income 186,754 — (183,000 ) 3,754 Interest expense 21,968 — — 21,968 Income before provision for income taxes 935,317 209,234 (183,239 ) 961,312 Provision for income taxes 238,256 78,071 — 316,327 Net income $ 697,061 $ 131,163 $ (183,239 ) $ 644,985 September 24, 2017 HDMC Entities HDFS Entities Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ 311,029 $ 372,105 $ — $ 683,134 Accounts receivable, net 690,152 — (347,028 ) 343,124 Finance receivables, net — 2,058,168 — 2,058,168 Inventories 469,091 — — 469,091 Restricted cash — 52,209 — 52,209 Other current assets 146,012 46,956 (10,552 ) 182,416 Total current assets 1,616,284 2,529,438 (357,580 ) 3,788,142 Finance receivables, net — 5,042,857 — 5,042,857 Property, plant and equipment, net 892,260 42,355 — 934,615 Goodwill 55,898 — — 55,898 Deferred income taxes 109,116 73,424 (1,965 ) 180,575 Other long-term assets 149,257 22,499 (85,484 ) 86,272 $ 2,822,815 $ 7,710,573 $ (445,029 ) $ 10,088,359 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable $ 257,205 $ 366,940 $ (347,028 ) $ 277,117 Accrued liabilities 479,753 104,814 (10,609 ) 573,958 Short-term debt — 834,875 — 834,875 Current portion of long-term debt, net — 1,530,401 — 1,530,401 Total current liabilities 736,958 2,837,030 (357,637 ) 3,216,351 Long-term debt, net 741,797 3,865,994 — 4,607,791 Pension liability 52,471 — — 52,471 Postretirement healthcare liability 162,925 — — 162,925 Other long-term liabilities 154,696 34,071 3,234 192,001 Commitments and contingencies (Note 16) Shareholders’ equity 973,968 973,478 (90,626 ) 1,856,820 $ 2,822,815 $ 7,710,573 $ (445,029 ) $ 10,088,359 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 16) Shareholders’ equity 975,949 1,031,877 (87,668 ) 1,920,158 $ 2,740,615 $ 7,399,790 $ (250,165 ) $ 9,890,240 September 25, 2016 HDMC Entities HDFS Entities Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ 438,875 $ 351,409 $ — $ 790,284 Marketable securities 5,038 — — 5,038 Accounts receivable, net 751,770 — (405,594 ) 346,176 Finance receivables, net — 2,205,644 — 2,205,644 Inventories 426,547 — — 426,547 Restricted cash — 65,088 — 65,088 Deferred income taxes 61,611 61,998 — 123,609 Other current assets 110,060 41,305 (11,407 ) 139,958 Total current assets 1,793,901 2,725,444 (417,001 ) 4,102,344 Finance receivables, net — 4,944,322 — 4,944,322 Property, plant and equipment, net 917,984 36,491 — 954,475 Goodwill 54,663 — — 54,663 Deferred income taxes 73,639 9,066 (1,874 ) 80,831 Other long-term assets 133,441 24,605 (82,455 ) 75,591 $ 2,973,628 $ 7,739,928 $ (501,330 ) $ 10,212,226 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable $ 268,945 $ 428,243 $ (405,594 ) $ 291,594 Accrued liabilities 419,675 98,268 (11,410 ) 506,533 Short-term debt — 1,055,428 — 1,055,428 Current portion of long-term debt, net — 700,152 — 700,152 Total current liabilities 688,620 2,282,091 (417,004 ) 2,553,707 Long-term debt, net 741,144 4,429,465 — 5,170,609 Pension liability 120,494 — — 120,494 Postretirement healthcare liability 182,825 — — 182,825 Other long-term liabilities 160,784 28,425 3,014 192,223 Commitments and contingencies (Note 16) Shareholders’ equity 1,079,761 999,947 (87,340 ) 1,992,368 $ 2,973,628 $ 7,739,928 $ (501,330 ) $ 10,212,226 Nine months ended September 24, 2017 HDMC Entities HDFS Entities Eliminations Consolidated Cash flows from operating activities: Net income $ 580,724 $ 129,322 $ (196,601 ) $ 513,445 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization of intangibles 158,938 5,036 — 163,974 Amortization of deferred loan origination costs — 62,052 — 62,052 Amortization of financing origination fees 491 5,621 — 6,112 Provision for long-term employee benefits 22,427 — — 22,427 Employee benefit plan contributions and payments (43,060 ) — — (43,060 ) Stock compensation expense 23,223 2,358 — 25,581 Net change in wholesale finance receivables related to sales — — 36,678 36,678 Provision for credit losses — 99,059 — 99,059 Deferred income taxes 3,450 (8,656 ) 55 (5,151 ) Other, net (14,671 ) 2,946 603 (11,122 ) Changes in current assets and liabilities: Accounts receivable, net (211,115 ) — 181,948 (29,167 ) Finance receivables - accrued interest and other — 317 — 317 Inventories 50,016 — — 50,016 Accounts payable and accrued liabilities 75,957 199,855 (187,054 ) 88,758 Derivative instruments 2,708 44 — 2,752 Other (45,830 ) 1,731 10,503 (33,596 ) Total adjustments 22,534 370,363 42,733 435,630 Net cash provided by operating activities 603,258 499,685 (153,868 ) 949,075 Nine months ended September 24, 2017 HDMC Entities HDFS Entities Eliminations Consolidated Cash flows from investing activities: Capital expenditures (105,591 ) (8,431 ) — (114,022 ) Origination of finance receivables — (5,791,241 ) 2,863,869 (2,927,372 ) Collections on finance receivables — 5,386,123 (2,906,001 ) 2,480,122 Sales and redemptions of marketable securities 6,916 — — 6,916 Other 356 — — 356 Net cash used by investing activities (98,319 ) (413,549 ) (42,132 ) (554,000 ) 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 — (367,298 ) — (367,298 ) Borrowings of asset-backed commercial paper — 371,253 — 371,253 Repayments of asset-backed commercial paper — (129,690 ) — (129,690 ) Net decrease in credit facilities and unsecured commercial paper — (225,038 ) — (225,038 ) Net change in restricted cash — 3,767 — 3,767 Dividends paid (190,121 ) (196,000 ) 196,000 (190,121 ) Purchase of common stock for treasury (465,167 ) — — (465,167 ) Issuance of common stock under employee stock option plans 7,884 — — 7,884 Net cash used by financing activities (647,404 ) (49,338 ) 196,000 (500,742 ) Effect of exchange rate changes on cash and cash equivalents 27,954 863 — 28,817 Net (decrease) increase in cash and cash equivalents $ (114,511 ) $ 37,661 $ — $ (76,850 ) Cash and cash equivalents: Cash and cash equivalents—beginning of period $ 425,540 $ 334,444 $ — $ 759,984 Net (decrease) increase in cash and cash equivalents (114,511 ) 37,661 — (76,850 ) Cash and cash equivalents—end of period $ 311,029 $ 372,105 $ — $ 683,134 Nine months ended September 25, 2016 HDMC Entities HDFS Entities Eliminations Consolidated Cash flows from operating activities: Net income $ 697,061 $ 131,163 $ (183,239 ) $ 644,985 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization of intangibles 148,851 5,714 — 154,565 Amortization of deferred loan origination costs — 65,445 — 65,445 Amortization of financing origination fees 491 6,721 — 7,212 Provision for long-term employee benefits 28,508 — — 28,508 Employee benefit plan contributions and payments (47,658 ) — — (47,658 ) Stock compensation expense 23,056 1,853 — 24,909 Net change in wholesale finance receivables related to sales — — (169,599 ) (169,599 ) Provision for credit losses — 97,127 — 97,127 Gain on off-balance sheet asset-backed securitization — (9,269 ) — (9,269 ) Loss on extinguishment of debt — 118 — 118 Deferred income taxes (574 ) (10,419 ) (268 ) (11,261 ) Other, net (24,157 ) 648 239 (23,270 ) Changes in current assets and liabilities: Accounts receivable, net (348,996 ) — 262,200 (86,796 ) Finance receivables - accrued interest and other — 364 — 364 Inventories 173,975 — — 173,975 Accounts payable and accrued liabilities 74,269 277,142 (254,221 ) 97,190 Derivative instruments (1,992 ) — — (1,992 ) Other (18,924 ) 2,180 — (16,744 ) Total adjustments 6,849 437,624 (161,649 ) 282,824 Net cash provided by operating activities 703,910 568,787 (344,888 ) 927,809 Nine months ended September 25, 2016 HDMC Entities HDFS Entities Eliminations Consolidated Cash flows from investing activities: Capital expenditures (155,967 ) (6,759 ) — (162,726 ) Origination of finance receivables — (6,297,040 ) 3,287,561 (3,009,479 ) Collections on finance receivables — 5,566,139 (3,125,673 ) 2,440,466 Proceeds from finance receivables sold — 312,571 — 312,571 Sales and redemptions of marketable securities 40,014 — — 40,014 Other 251 — — 251 Net cash used by investing activities (115,702 ) (425,089 ) 161,888 (378,903 ) Cash flows from financing activities: Proceeds from issuance of medium-term notes — 1,193,396 — 1,193,396 Repayments of medium-term notes — (451,336 ) — (451,336 ) Repayments of securitization debt — (535,616 ) — (535,616 ) Borrowings of asset-backed commercial paper — 33,428 — 33,428 Repayments of asset-backed commercial paper — (55,170 ) — (55,170 ) Net decrease in credit facilities and unsecured commercial paper — (146,328 ) — (146,328 ) Net change in restricted cash — 30,981 — 30,981 Dividends paid (190,387 ) (183,000 ) 183,000 (190,387 ) Purchase of common stock for treasury (374,234 ) — — (374,234 ) Excess tax benefits from share-based payments 1,291 — — 1,291 Issuance of common stock under employee stock option plans 6,444 — — 6,444 Net cash used by financing activities (556,886 ) (113,645 ) 183,000 (487,531 ) Effect of exchange rate changes on cash and cash equivalents 7,110 (410 ) — 6,700 Net increase in cash and cash equivalents $ 38,432 $ 29,643 $ — $ 68,075 Cash and cash equivalents: Cash and cash equivalents—beginning of period $ 400,443 $ 321,766 $ — $ 722,209 Net increase in cash and cash equivalents 38,432 29,643 — 68,075 Cash and cash equivalents—end of period $ 438,875 $ 351,409 $ — $ 790,284

Basis of Presentation and Use24

Basis of Presentation and Use of Estimates (Policies)	9 Months Ended
	Sep. 24, 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. 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 does not expect the adoption of ASU 2016-01 to have a material impact on its financial statements. 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 does not expect the adoption of ASU 2016-15 to have a material impact on its financial statements. 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 14. In August 2017, the FASB issued ASU No. 2017-12 Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities (ASU 2017-12). ASU 2017-12 amends ASC 815, Derivatives and Hedging to improve the financial reporting of hedging relationships and to simplify the application of the hedge accounting guidance. The ASU makes various updates to the hedge accounting model, including changing the recognition and presentation of changes in the fair value of the hedging instrument and amending disclosure requirements, among other things. The Company is required to adopt ASU 2017-12 for fiscal years beginning after December 15, 2018, and for interim periods within those fiscal years. Early adoption is permitted in any interim period after issuance of the ASU. For cash flow and net investment hedges existing at the date of adoption, the Company must apply a cumulative-effect adjustment as of the beginning of the fiscal year in which the standard is adopted. The amendments related to presentation and disclosure are required prospectively. The Company is currently evaluating the impact of adoption of ASU 2017-12.

Additional Balance Sheet and 25

Additional Balance Sheet and Cash Flow Information (Tables)	9 Months Ended
	Sep. 24, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Marketable Securities	The Company’s marketable securities consisted of the following (in thousands): September 24, December 31, September 25, Available-for-sale securities: corporate bonds $ — $ 5,519 $ 5,038 Trading securities: mutual funds 45,726 38,119 39,063 Total marketable securities $ 45,726 $ 43,638 $ 44,101
Inventories Net	Inventories consisted of the following (in thousands): September 24, December 31, September 25, Raw materials and work in process $ 155,947 $ 140,639 $ 159,209 Motorcycle finished goods 232,141 285,281 182,019 Parts and accessories and general merchandise 129,270 122,264 134,587 Inventory at lower of FIFO cost or net realizable value 517,358 548,184 475,815 Excess of FIFO over LIFO cost (48,267 ) (48,267 ) (49,268 ) Total inventories, net $ 469,091 $ 499,917 $ 426,547
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): Nine months ended September 24, September 25, Cash flows from operating activities: Net income $ 513,445 $ 644,985 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization of intangibles 163,974 154,565 Amortization of deferred loan origination costs 62,052 65,445 Amortization of financing origination fees 6,112 7,212 Provision for long-term employee benefits 22,427 28,508 Employee benefit plan contributions and payments (43,060 ) (47,658 ) Stock compensation expense 25,581 24,909 Net change in wholesale finance receivables related to sales 36,678 (169,599 ) Provision for credit losses 99,059 97,127 Gain on off-balance sheet asset-backed securitization — (9,269 ) Loss on debt extinguishment — 118 Deferred income taxes (5,151 ) (11,261 ) Other, net (11,122 ) (23,270 ) Changes in current assets and liabilities: Accounts receivable, net (29,167 ) (86,796 ) Finance receivables - accrued interest and other 317 364 Inventories 50,016 173,975 Accounts payable and accrued liabilities 88,758 97,190 Derivative instruments 2,752 (1,992 ) Other (33,596 ) (16,744 ) Total adjustments 435,630 282,824 Net cash provided by operating activities $ 949,075 $ 927,809

Finance Receivables (Tables)

Finance Receivables (Tables)	9 Months Ended
	Sep. 24, 2017
Receivables [Abstract]
Finance Receivables	Finance receivables, net, consisted of the following (in thousands): September 24, December 31, September 25, Retail $ 6,336,447 $ 5,982,211 $ 6,165,999 Wholesale 960,160 1,026,590 1,155,483 Total finance receivables 7,296,607 7,008,801 7,321,482 Allowance for credit losses (195,582 ) (173,343 ) (171,516 ) Finance receivables, net $ 7,101,025 $ 6,835,458 $ 7,149,966
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 September 24, 2017 Retail Wholesale Total Balance, beginning of period $ 185,899 $ 7,629 $ 193,528 Provision for credit losses 30,964 (1,711 ) 29,253 Charge-offs (37,783 ) — (37,783 ) Recoveries 10,584 — 10,584 Balance, end of period $ 189,664 $ 5,918 $ 195,582 Three months ended September 25, 2016 Retail Wholesale Total Balance, beginning of period $ 152,998 $ 8,355 $ 161,353 Provision for credit losses 38,143 (1,600 ) 36,543 Charge-offs (35,749 ) — (35,749 ) Recoveries 9,369 — 9,369 Balance, end of period $ 164,761 $ 6,755 $ 171,516 Nine months ended September 24, 2017 Retail Wholesale Total Balance, beginning of period $ 166,810 $ 6,533 $ 173,343 Provision for credit losses 99,674 (615 ) 99,059 Charge-offs (114,081 ) — (114,081 ) Recoveries 37,261 — 37,261 Balance, end of period $ 189,664 $ 5,918 $ 195,582 Nine months ended September 25, 2016 Retail Wholesale Total Balance, beginning of period $ 139,320 $ 7,858 $ 147,178 Provision for credit losses 98,230 (1,103 ) 97,127 Charge-offs (101,853 ) — (101,853 ) Recoveries 32,355 — 32,355 Other (a) (3,291 ) — (3,291 ) Balance, end of period $ 164,761 $ 6,755 $ 171,516 (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): September 24, 2017 Retail Wholesale Total Allowance for credit losses, ending balance: Individually evaluated for impairment $ — $ — $ — Collectively evaluated for impairment 189,664 5,918 195,582 Total allowance for credit losses $ 189,664 $ 5,918 $ 195,582 Finance receivables, ending balance: Individually evaluated for impairment $ — $ — $ — Collectively evaluated for impairment 6,336,447 960,160 7,296,607 Total finance receivables $ 6,336,447 $ 960,160 $ 7,296,607 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 September 25, 2016 Retail Wholesale Total Allowance for credit losses, ending balance: Individually evaluated for impairment $ — $ — $ — Collectively evaluated for impairment 164,761 6,755 171,516 Total allowance for credit losses $ 164,761 $ 6,755 $ 171,516 Finance receivables, ending balance: Individually evaluated for impairment $ — $ — $ — Collectively evaluated for impairment 6,165,999 1,155,483 7,321,482 Total finance receivables $ 6,165,999 $ 1,155,483 $ 7,321,482
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): September 24, 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 $ 6,132,997 $ 126,705 $ 44,083 $ 32,662 $ 203,450 $ 6,336,447 Wholesale 958,429 329 95 1,307 1,731 960,160 Total $ 7,091,426 $ 127,034 $ 44,178 $ 33,969 $ 205,181 $ 7,296,607 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 September 25, 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 $ 5,973,108 $ 119,709 $ 41,866 $ 31,316 $ 192,891 $ 6,165,999 Wholesale 1,154,617 366 114 386 866 1,155,483 Total $ 7,127,725 $ 120,075 $ 41,980 $ 31,702 $ 193,757 $ 7,321,482
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): September 24, 2017 December 31, 2016 September 25, 2016 Doubtful $ 4,666 $ 1,333 $ — Substandard 8,724 1,773 16,244 Special Mention 5,261 30,152 — Medium Risk 4,987 14,620 7,667 Low Risk 936,522 978,712 1,131,572 Total $ 960,160 $ 1,026,590 $ 1,155,483 The recorded investment in retail finance receivables, by credit quality indicator, was as follows (in thousands): September 24, 2017 December 31, 2016 September 25, 2016 Prime $ 5,107,718 $ 4,768,420 $ 4,900,752 Sub-prime 1,228,729 1,213,791 1,265,247 Total $ 6,336,447 $ 5,982,211 $ 6,165,999

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 24, 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): September 24, 2017 Balance Quoted Prices in Significant Significant Assets: Cash equivalents $ 425,000 $ 425,000 $ — $ — Marketable securities 45,726 45,726 — — Derivatives 724 — 724 — Total $ 471,450 $ 470,726 $ 724 $ — Liabilities: Derivatives $ 32,414 $ — $ 32,414 $ — 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 $ — September 25, 2016 Balance Quoted Prices in Significant Significant Assets: Cash equivalents $ 526,228 $ 372,850 $ 153,378 $ — Marketable securities 44,101 39,063 5,038 — Derivatives 6,606 — 6,606 — Total $ 576,935 $ 411,913 $ 165,022 $ — Liabilities: Derivatives $ 1,388 $ — $ 1,388 $ —

Fair Value of Financial Instr28

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 24, 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): September 24, 2017 December 31, 2016 September 25, 2016 Fair Value Carrying Value Fair Value Carrying Value Fair Value Carrying Value Assets: Cash and cash equivalents $ 683,134 $ 683,134 $ 759,984 $ 759,984 $ 790,284 $ 790,284 Marketable securities $ 45,726 $ 45,726 $ 43,638 $ 43,638 $ 44,101 $ 44,101 Derivatives $ 724 $ 724 $ 29,034 $ 29,034 $ 6,606 $ 6,606 Finance receivables, net $ 7,159,632 $ 7,101,025 $ 6,921,037 $ 6,835,458 $ 7,233,923 $ 7,149,966 Restricted cash $ 63,380 $ 63,380 $ 67,147 $ 67,147 $ 79,661 $ 79,661 Liabilities: Derivatives $ 32,414 $ 32,414 $ 142 $ 142 $ 1,388 $ 1,388 Unsecured commercial paper $ 834,875 $ 834,875 $ 1,055,708 $ 1,055,708 $ 1,055,428 $ 1,055,428 Asset-backed U.S. commercial paper conduit facilities $ 280,308 $ 280,308 $ — $ — $ — $ — Asset-backed Canadian commercial paper conduit facility $ 122,130 $ 122,130 $ 149,338 $ 149,338 $ 140,488 $ 140,488 Medium-term notes $ 4,612,083 $ 4,564,124 $ 4,139,462 $ 4,064,940 $ 4,199,753 $ 4,063,510 Senior unsecured notes $ 774,693 $ 741,797 $ 744,552 $ 741,306 $ 800,818 $ 741,144 Asset-backed securitization debt $ 430,038 $ 429,833 $ 797,688 $ 796,275 $ 929,775 $ 925,619

Derivative Instruments and He29

Derivative Instruments and Hedging Activities (Tables)	9 Months Ended
	Sep. 24, 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): September 24, 2017 December 31, 2016 September 25, 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) $ 746,378 $ 439 $ 32,352 $ 554,551 $ 28,528 $ 142 $ 615,251 $ 6,337 $ 1,193 Commodity contracts (c) 1,273 — 62 992 177 — 1,154 110 — Total $ 747,651 $ 439 $ 32,414 $ 555,543 $ 28,705 $ 142 $ 616,405 $ 6,447 $ 1,193 September 24, 2017 December 31, 2016 September 25, 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 $ 4,234 $ 285 $ — $ 5,025 $ 329 $ — $ 4,488 $ 159 $ 195 Total $ 4,234 $ 285 $ — $ 5,025 $ 329 $ — $ 4,488 $ 159 $ 195 (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 Nine months ended Cash Flow Hedges September 24, September 25, September 24, September 25, Foreign currency contracts $ (35,687 ) $ (938 ) $ (59,335 ) $ (5,445 ) Commodity contracts (5 ) 43 (191 ) (30 ) Treasury rate locks — — (719 ) — Total $ (35,692 ) $ (895 ) $ (60,245 ) $ (5,475 ) Amount of Gain/(Loss) Reclassified from AOCL into Income Three months ended Nine months ended Expected to be Reclassified Cash Flow Hedges September 24, September 25, September 24, September 25, Over the Next Twelve Months Foreign currency contracts (a) $ (7,901 ) $ 2,399 $ (1,428 ) $ 6,806 $ (31,324 ) Commodity contracts (a) (16 ) 21 49 (298 ) (62 ) Treasury rate locks (b) (126 ) (90 ) (315 ) (271 ) (506 ) Total $ (8,043 ) $ 2,330 $ (1,694 ) $ 6,237 $ (31,892 ) (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 Nine months ended Derivatives Not Designated As Hedges September 24, September 25, September 24, September 25, Commodity contracts (a) $ 433 $ 45 $ 259 $ (179 ) Total $ 433 $ 45 $ 259 $ (179 ) (a) Gain/(loss) recognized in income is included in cost of goods sold

Accumulated Other Comprehensi30

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 24, 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 September 24, 2017 Foreign currency translation adjustments Marketable securities Derivative financial instruments Pension and postretirement benefit plans Total Balance, beginning of period $ (42,938 ) $ — $ (6,940 ) $ (494,067 ) $ (543,945 ) Other comprehensive income (loss) before reclassifications 26,754 — (35,692 ) — (8,938 ) Income tax (benefit) expense (1,741 ) — 13,220 — 11,479 Net other comprehensive income (loss) before reclassifications 25,013 — (22,472 ) — 2,541 Reclassifications: Realized (gains) losses - foreign currency contracts (a) — — 7,901 — 7,901 Realized (gains) losses - commodities contracts (a) — — 16 — 16 Realized (gains) losses - treasury rate locks (b) — — 126 — 126 Prior service credits (c) — — — (287 ) (287 ) Actuarial losses (c) — — — 11,813 11,813 Total reclassifications before tax — — 8,043 11,526 19,569 Income tax benefit — — (2,978 ) (4,269 ) (7,247 ) Net reclassifications — — 5,065 7,257 12,322 Other comprehensive income (loss) 25,013 — (17,407 ) 7,257 14,863 Balance, end of period $ (17,925 ) $ — $ (24,347 ) $ (486,810 ) $ (529,082 ) Three months ended September 25, 2016 Foreign currency translation adjustments Marketable securities Derivative financial instruments Pension and postretirement benefit plans Total Balance, beginning of period $ (43,523 ) $ (1,171 ) $ 543 $ (546,010 ) $ (590,161 ) Other comprehensive income (loss) before reclassifications 3,574 (18 ) (895 ) — 2,661 Income tax expense 279 7 332 — 618 Net other comprehensive income (loss) before reclassifications 3,853 (11 ) (563 ) — 3,279 Reclassifications: Realized (gains) losses - foreign currency contracts (a) — — (2,399 ) — (2,399 ) Realized (gains) losses - commodities contracts (a) — — (21 ) — (21 ) Realized (gains) losses - treasury rate locks (b) — — 90 — 90 Prior service credits (c) — — — (446 ) (446 ) Actuarial losses (c) — — — 12,472 12,472 Total reclassifications before tax — — (2,330 ) 12,026 9,696 Income tax expense (benefit) — — 862 (4,454 ) (3,592 ) Net reclassifications — — (1,468 ) 7,572 6,104 Other comprehensive income (loss) 3,853 (11 ) (2,031 ) 7,572 9,383 Balance, end of period $ (39,670 ) $ (1,182 ) $ (1,488 ) $ (538,438 ) $ (580,778 ) Nine months ended September 24, 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 51,834 1,896 (60,245 ) — (6,515 ) Income tax (benefit) expense (1,627 ) (702 ) 22,307 — 19,978 Net other comprehensive income (loss) before reclassifications 50,207 1,194 (37,938 ) — 13,463 Reclassifications: Realized (gains) losses - foreign currency contracts (a) — — 1,428 — 1,428 Realized (gains) losses - commodities contracts (a) — — (49 ) — (49 ) Realized (gains) losses - treasury rate locks (b) — — 315 — 315 Prior service credits (c) — — — (865 ) (865 ) Actuarial losses (c) — — — 35,439 35,439 Total reclassifications before tax — — 1,694 34,574 36,268 Income tax benefit — — (627 ) (12,805 ) (13,432 ) Net reclassifications — — 1,067 21,769 22,836 Other comprehensive income (loss) 50,207 1,194 (36,871 ) 21,769 36,299 Balance, end of period $ (17,925 ) $ — $ (24,347 ) $ (486,810 ) $ (529,082 ) Nine months ended September 25, 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 20,661 (140 ) (5,475 ) — 15,046 Income tax (benefit) expense (1,487 ) 52 2,028 — 593 Net other comprehensive income (loss) before reclassifications 19,174 (88 ) (3,447 ) — 15,639 Reclassifications: Realized (gains) losses - foreign currency contracts (a) — — (6,806 ) — (6,806 ) Realized (gains) losses - commodities contracts (a) — — 298 — 298 Realized (gains) losses - treasury rate locks (b) — — 271 — 271 Prior service credits (c) — — — (1,338 ) (1,338 ) Actuarial losses (c) — — — 37,416 37,416 Total reclassifications before tax — — (6,237 ) 36,078 29,841 Income tax expense (benefit) — — 2,310 (13,363 ) (11,053 ) Net reclassifications — — (3,927 ) 22,715 18,788 Other comprehensive income (loss) 19,174 (88 ) (7,374 ) 22,715 34,427 Balance, end of period $ (39,670 ) $ (1,182 ) $ (1,488 ) $ (538,438 ) $ (580,778 ) (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 14 for information related to pension and postretirement benefit plans.

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 24, 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): September 24, December 31, September 25, Unsecured commercial paper $ 834,875 $ 1,055,708 $ 1,055,428 Total short-term debt $ 834,875 $ 1,055,708 $ 1,055,428
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): September 24, December 31, September 25, Secured debt (Note 10) Asset-backed Canadian commercial paper conduit facility $ 122,130 $ 149,338 $ 140,488 Asset-backed U.S. commercial paper conduit facilities 280,308 — — Asset-backed securitization debt 430,457 797,755 927,539 Less: unamortized discount and debt issuance costs (624 ) (1,480 ) (1,920 ) Total secured debt 832,271 945,613 1,066,107 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 877,488 877,488 877,488 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 (21,567 ) (21,242 ) (22,834 ) Gross long-term debt 6,138,192 5,751,859 5,870,761 Less: current portion of long-term debt, net of unamortized discount and debt issuance costs (1,530,401 ) (1,084,884 ) (700,152 ) Total long-term debt $ 4,607,791 $ 4,666,975 $ 5,170,609

Asset-Backed Financing (Tables)

Asset-Backed Financing (Tables)	9 Months Ended
	Sep. 24, 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): September 24, 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 $ 511,643 $ (15,798 ) $ 40,385 $ 1,513 $ 537,743 $ 429,833 Asset-backed U.S. commercial paper conduit facilities 298,197 (9,233 ) 14,922 927 304,813 280,308 Unconsolidated VIEs Asset-backed Canadian commercial paper conduit facility 139,413 (2,560 ) 8,073 350 145,276 122,130 Total on-balance sheet assets and liabilities $ 949,253 $ (27,591 ) $ 63,380 $ 2,790 $ 987,832 $ 832,271 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 September 25, 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 $ 1,019,378 $ (27,847 ) $ 69,364 $ 2,893 $ 1,063,788 $ 925,619 Asset-backed U.S. commercial paper conduit facilities — — — 150 150 — Unconsolidated VIEs Asset-backed Canadian commercial paper conduit facility 155,130 (3,244 ) 10,297 351 162,534 140,488 Total on-balance sheet assets and liabilities $ 1,174,508 $ (31,091 ) $ 79,661 $ 3,394 $ 1,226,472 $ 1,066,107
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 Third quarter — — — — $ 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): September 24, December 31, September 25, On-balance sheet retail motorcycle finance receivables $ 6,185,144 $ 5,839,467 $ 6,017,065 Off-balance sheet retail motorcycle finance receivables 165,169 236,706 262,583 Total serviced retail motorcycle finance receivables $ 6,350,313 $ 6,076,173 $ 6,279,648 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: September 24, December 31, September 25, On-balance sheet retail motorcycle finance receivables $ 203,450 $ 221,393 $ 192,891 Off-balance sheet retail motorcycle finance receivables 1,720 1,858 1,235 Total serviced retail motorcycle finance receivables $ 205,170 $ 223,251 $ 194,126 Credit losses, net of recoveries for the retail motorcycle finance receivables serviced by the Company were as follows (in thousands): Three months ended Nine months ended September 24, September 25, September 24, September 25, On-balance sheet retail motorcycle finance receivables $ 27,199 $ 26,380 $ 76,820 $ 69,498 Off-balance sheet retail motorcycle finance receivables 299 270 865 285 Total serviced retail motorcycle finance receivables $ 27,498 $ 26,650 $ 77,685 $ 69,783

Product Warranty and Safety R33

Product Warranty and Safety Recall Campaigns (Tables)	9 Months Ended
	Sep. 24, 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 Nine months ended September 24, September 25, September 24, September 25, Balance, beginning of period $ 80,681 $ 82,480 $ 79,482 $ 74,217 Warranties issued during the period 11,802 11,107 46,638 49,321 Settlements made during the period (22,322 ) (30,512 ) (62,855 ) (71,354 ) Recalls and changes to pre-existing warranty liabilities 646 22,448 7,542 33,339 Balance, end of period $ 70,807 $ 85,523 $ 70,807 $ 85,523

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 24, 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 Nine months ended September 24, September 25, September 24, September 25, Numerator : Net income used in computing basic and diluted earnings per share $ 68,209 $ 114,065 $ 513,445 $ 644,985 Denominator : Denominator for basic earnings per share - weighted-average common shares 169,850 178,438 173,362 180,779 Effect of dilutive securities - employee stock compensation plan 838 882 941 803 Denominator for diluted earnings per share - adjusted weighted-average shares outstanding 170,688 179,320 174,303 181,582 Earnings per common share: Basic $ 0.40 $ 0.64 $ 2.96 $ 3.57 Diluted $ 0.40 $ 0.64 $ 2.95 $ 3.55

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	9 Months Ended
	Sep. 24, 2017
Retirement Benefits [Abstract]
Components of Net Periodic Benefit Costs	Components of net periodic benefit costs were as follows (in thousands): Three months ended Nine months ended September 24, September 25, September 24, September 25, Pension and SERPA Benefits Service cost $ 7,896 $ 8,359 $ 23,688 $ 25,077 Interest cost 21,269 22,707 63,807 68,121 Expected return on plan assets (35,345 ) (36,445 ) (106,035 ) (109,335 ) Amortization of unrecognized: Prior service cost 256 255 764 765 Net loss 10,998 11,588 32,994 34,764 Settlement loss — 300 — 900 Net periodic benefit cost $ 5,074 $ 6,764 $ 15,218 $ 20,292 Postretirement Healthcare Benefits Service cost $ 1,875 $ 1,870 $ 5,625 $ 5,610 Interest cost 3,412 3,704 10,236 11,112 Expected return on plan assets (3,156 ) (3,017 ) (9,468 ) (9,051 ) Amortization of unrecognized: Prior service credit (543 ) (701 ) (1,629 ) (2,103 ) Net loss 815 884 2,445 2,652 Net periodic benefit cost $ 2,403 $ 2,740 $ 7,209 $ 8,220

Business Segments (Tables)

Business Segments (Tables)	9 Months Ended
	Sep. 24, 2017
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Selected segment information is set forth below (in thousands): Three months ended Nine months ended September 24, September 25, September 24, September 25, Motorcycles net revenue $ 962,136 $ 1,091,630 $ 3,867,982 $ 4,338,353 Gross profit 276,975 367,019 1,330,083 1,564,857 Selling, administrative and engineering expense 257,327 258,090 751,946 800,722 Operating income from Motorcycles 19,648 108,929 578,137 764,135 Financial Services revenue 189,059 183,183 550,314 547,505 Financial Services expense 111,999 113,736 338,683 332,114 Operating income from Financial Services 77,060 69,447 211,631 215,391 Operating income $ 96,708 $ 178,376 $ 789,768 $ 979,526

Supplemental Consolidating Da37

Supplemental Consolidating Data (Tables)	9 Months Ended
	Sep. 24, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Operations	Three months ended September 24, 2017 HDMC Entities HDFS Entities Eliminations Consolidated Revenue: Motorcycles and Related Products $ 964,942 $ — $ (2,806 ) $ 962,136 Financial Services — 189,932 (873 ) 189,059 Total revenue 964,942 189,932 (3,679 ) 1,151,195 Costs and expenses: Motorcycles and Related Products cost of goods sold 685,161 — — 685,161 Financial Services interest expense — 46,169 — 46,169 Financial Services provision for credit losses — 29,253 — 29,253 Selling, administrative and engineering expense 257,723 39,383 (3,202 ) 293,904 Total costs and expenses 942,884 114,805 (3,202 ) 1,054,487 Operating income 22,058 75,127 (477 ) 96,708 Investment income 91,083 — (90,000 ) 1,083 Interest expense 7,896 — — 7,896 Income before provision for income taxes 105,245 75,127 (90,477 ) 89,895 Provision for income taxes (6,134 ) 27,820 — 21,686 Net income $ 111,379 $ 47,307 $ (90,477 ) $ 68,209 Nine months ended September 24, 2017 HDMC Entities HDFS Entities Eliminations Consolidated Revenue: Motorcycles and Related Products $ 3,875,669 $ — $ (7,687 ) $ 3,867,982 Financial Services — 552,201 (1,887 ) 550,314 Total revenue 3,875,669 552,201 (9,574 ) 4,418,296 Costs and expenses: Motorcycles and Related Products cost of goods sold 2,537,899 — — 2,537,899 Financial Services interest expense — 133,866 — 133,866 Financial Services provision for credit losses — 99,059 — 99,059 Selling, administrative and engineering expense 753,232 113,445 (8,973 ) 857,704 Total costs and expenses 3,291,131 346,370 (8,973 ) 3,628,528 Operating income 584,538 205,831 (601 ) 789,768 Investment income 198,539 — (196,000 ) 2,539 Interest expense 23,295 — — 23,295 Income before provision for income taxes 759,782 205,831 (196,601 ) 769,012 Provision for income taxes 179,058 76,509 — 255,567 Net income $ 580,724 $ 129,322 $ (196,601 ) $ 513,445 Three months ended September 25, 2016 HDMC Entities HDFS Entities Eliminations Consolidated Revenue: Motorcycles and Related Products $ 1,094,148 $ — $ (2,518 ) $ 1,091,630 Financial Services — 183,706 (523 ) 183,183 Total revenue 1,094,148 183,706 (3,041 ) 1,274,813 Costs and expenses: Motorcycles and Related Products cost of goods sold 724,611 — — 724,611 Financial Services interest expense — 42,573 — 42,573 Financial Services provision for credit losses — 36,543 — 36,543 Selling, administrative and engineering expense 258,541 37,139 (2,970 ) 292,710 Total costs and expenses 983,152 116,255 (2,970 ) 1,096,437 Operating income 110,996 67,451 (71 ) 178,376 Investment income 2,300 — — 2,300 Interest expense 7,706 — — 7,706 Income before provision for income taxes 105,590 67,451 (71 ) 172,970 Provision for income taxes 33,895 25,010 — 58,905 Net income $ 71,695 $ 42,441 $ (71 ) $ 114,065 Nine months ended September 25, 2016 HDMC Entities HDFS Entities Eliminations Consolidated Revenue: Motorcycles and Related Products $ 4,346,166 $ — $ (7,813 ) $ 4,338,353 Financial Services — 549,162 (1,657 ) 547,505 Total revenue 4,346,166 549,162 (9,470 ) 4,885,858 Costs and expenses: Motorcycles and Related Products cost of goods sold 2,773,496 — — 2,773,496 Financial Services interest expense — 131,387 — 131,387 Financial Services provision for credit losses — 97,127 — 97,127 Selling, administrative and engineering expense 802,139 111,414 (9,231 ) 904,322 Total costs and expenses 3,575,635 339,928 (9,231 ) 3,906,332 Operating income 770,531 209,234 (239 ) 979,526 Investment income 186,754 — (183,000 ) 3,754 Interest expense 21,968 — — 21,968 Income before provision for income taxes 935,317 209,234 (183,239 ) 961,312 Provision for income taxes 238,256 78,071 — 316,327 Net income $ 697,061 $ 131,163 $ (183,239 ) $ 644,985
Balance Sheet	September 24, 2017 HDMC Entities HDFS Entities Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ 311,029 $ 372,105 $ — $ 683,134 Accounts receivable, net 690,152 — (347,028 ) 343,124 Finance receivables, net — 2,058,168 — 2,058,168 Inventories 469,091 — — 469,091 Restricted cash — 52,209 — 52,209 Other current assets 146,012 46,956 (10,552 ) 182,416 Total current assets 1,616,284 2,529,438 (357,580 ) 3,788,142 Finance receivables, net — 5,042,857 — 5,042,857 Property, plant and equipment, net 892,260 42,355 — 934,615 Goodwill 55,898 — — 55,898 Deferred income taxes 109,116 73,424 (1,965 ) 180,575 Other long-term assets 149,257 22,499 (85,484 ) 86,272 $ 2,822,815 $ 7,710,573 $ (445,029 ) $ 10,088,359 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable $ 257,205 $ 366,940 $ (347,028 ) $ 277,117 Accrued liabilities 479,753 104,814 (10,609 ) 573,958 Short-term debt — 834,875 — 834,875 Current portion of long-term debt, net — 1,530,401 — 1,530,401 Total current liabilities 736,958 2,837,030 (357,637 ) 3,216,351 Long-term debt, net 741,797 3,865,994 — 4,607,791 Pension liability 52,471 — — 52,471 Postretirement healthcare liability 162,925 — — 162,925 Other long-term liabilities 154,696 34,071 3,234 192,001 Commitments and contingencies (Note 16) Shareholders’ equity 973,968 973,478 (90,626 ) 1,856,820 $ 2,822,815 $ 7,710,573 $ (445,029 ) $ 10,088,359 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 16) Shareholders’ equity 975,949 1,031,877 (87,668 ) 1,920,158 $ 2,740,615 $ 7,399,790 $ (250,165 ) $ 9,890,240 September 25, 2016 HDMC Entities HDFS Entities Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ 438,875 $ 351,409 $ — $ 790,284 Marketable securities 5,038 — — 5,038 Accounts receivable, net 751,770 — (405,594 ) 346,176 Finance receivables, net — 2,205,644 — 2,205,644 Inventories 426,547 — — 426,547 Restricted cash — 65,088 — 65,088 Deferred income taxes 61,611 61,998 — 123,609 Other current assets 110,060 41,305 (11,407 ) 139,958 Total current assets 1,793,901 2,725,444 (417,001 ) 4,102,344 Finance receivables, net — 4,944,322 — 4,944,322 Property, plant and equipment, net 917,984 36,491 — 954,475 Goodwill 54,663 — — 54,663 Deferred income taxes 73,639 9,066 (1,874 ) 80,831 Other long-term assets 133,441 24,605 (82,455 ) 75,591 $ 2,973,628 $ 7,739,928 $ (501,330 ) $ 10,212,226 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable $ 268,945 $ 428,243 $ (405,594 ) $ 291,594 Accrued liabilities 419,675 98,268 (11,410 ) 506,533 Short-term debt — 1,055,428 — 1,055,428 Current portion of long-term debt, net — 700,152 — 700,152 Total current liabilities 688,620 2,282,091 (417,004 ) 2,553,707 Long-term debt, net 741,144 4,429,465 — 5,170,609 Pension liability 120,494 — — 120,494 Postretirement healthcare liability 182,825 — — 182,825 Other long-term liabilities 160,784 28,425 3,014 192,223 Commitments and contingencies (Note 16) Shareholders’ equity 1,079,761 999,947 (87,340 ) 1,992,368 $ 2,973,628 $ 7,739,928 $ (501,330 ) $ 10,212,226
Cash Flows	Nine months ended September 24, 2017 HDMC Entities HDFS Entities Eliminations Consolidated Cash flows from operating activities: Net income $ 580,724 $ 129,322 $ (196,601 ) $ 513,445 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization of intangibles 158,938 5,036 — 163,974 Amortization of deferred loan origination costs — 62,052 — 62,052 Amortization of financing origination fees 491 5,621 — 6,112 Provision for long-term employee benefits 22,427 — — 22,427 Employee benefit plan contributions and payments (43,060 ) — — (43,060 ) Stock compensation expense 23,223 2,358 — 25,581 Net change in wholesale finance receivables related to sales — — 36,678 36,678 Provision for credit losses — 99,059 — 99,059 Deferred income taxes 3,450 (8,656 ) 55 (5,151 ) Other, net (14,671 ) 2,946 603 (11,122 ) Changes in current assets and liabilities: Accounts receivable, net (211,115 ) — 181,948 (29,167 ) Finance receivables - accrued interest and other — 317 — 317 Inventories 50,016 — — 50,016 Accounts payable and accrued liabilities 75,957 199,855 (187,054 ) 88,758 Derivative instruments 2,708 44 — 2,752 Other (45,830 ) 1,731 10,503 (33,596 ) Total adjustments 22,534 370,363 42,733 435,630 Net cash provided by operating activities 603,258 499,685 (153,868 ) 949,075 Nine months ended September 24, 2017 HDMC Entities HDFS Entities Eliminations Consolidated Cash flows from investing activities: Capital expenditures (105,591 ) (8,431 ) — (114,022 ) Origination of finance receivables — (5,791,241 ) 2,863,869 (2,927,372 ) Collections on finance receivables — 5,386,123 (2,906,001 ) 2,480,122 Sales and redemptions of marketable securities 6,916 — — 6,916 Other 356 — — 356 Net cash used by investing activities (98,319 ) (413,549 ) (42,132 ) (554,000 ) 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 — (367,298 ) — (367,298 ) Borrowings of asset-backed commercial paper — 371,253 — 371,253 Repayments of asset-backed commercial paper — (129,690 ) — (129,690 ) Net decrease in credit facilities and unsecured commercial paper — (225,038 ) — (225,038 ) Net change in restricted cash — 3,767 — 3,767 Dividends paid (190,121 ) (196,000 ) 196,000 (190,121 ) Purchase of common stock for treasury (465,167 ) — — (465,167 ) Issuance of common stock under employee stock option plans 7,884 — — 7,884 Net cash used by financing activities (647,404 ) (49,338 ) 196,000 (500,742 ) Effect of exchange rate changes on cash and cash equivalents 27,954 863 — 28,817 Net (decrease) increase in cash and cash equivalents $ (114,511 ) $ 37,661 $ — $ (76,850 ) Cash and cash equivalents: Cash and cash equivalents—beginning of period $ 425,540 $ 334,444 $ — $ 759,984 Net (decrease) increase in cash and cash equivalents (114,511 ) 37,661 — (76,850 ) Cash and cash equivalents—end of period $ 311,029 $ 372,105 $ — $ 683,134 Nine months ended September 25, 2016 HDMC Entities HDFS Entities Eliminations Consolidated Cash flows from operating activities: Net income $ 697,061 $ 131,163 $ (183,239 ) $ 644,985 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization of intangibles 148,851 5,714 — 154,565 Amortization of deferred loan origination costs — 65,445 — 65,445 Amortization of financing origination fees 491 6,721 — 7,212 Provision for long-term employee benefits 28,508 — — 28,508 Employee benefit plan contributions and payments (47,658 ) — — (47,658 ) Stock compensation expense 23,056 1,853 — 24,909 Net change in wholesale finance receivables related to sales — — (169,599 ) (169,599 ) Provision for credit losses — 97,127 — 97,127 Gain on off-balance sheet asset-backed securitization — (9,269 ) — (9,269 ) Loss on extinguishment of debt — 118 — 118 Deferred income taxes (574 ) (10,419 ) (268 ) (11,261 ) Other, net (24,157 ) 648 239 (23,270 ) Changes in current assets and liabilities: Accounts receivable, net (348,996 ) — 262,200 (86,796 ) Finance receivables - accrued interest and other — 364 — 364 Inventories 173,975 — — 173,975 Accounts payable and accrued liabilities 74,269 277,142 (254,221 ) 97,190 Derivative instruments (1,992 ) — — (1,992 ) Other (18,924 ) 2,180 — (16,744 ) Total adjustments 6,849 437,624 (161,649 ) 282,824 Net cash provided by operating activities 703,910 568,787 (344,888 ) 927,809 Nine months ended September 25, 2016 HDMC Entities HDFS Entities Eliminations Consolidated Cash flows from investing activities: Capital expenditures (155,967 ) (6,759 ) — (162,726 ) Origination of finance receivables — (6,297,040 ) 3,287,561 (3,009,479 ) Collections on finance receivables — 5,566,139 (3,125,673 ) 2,440,466 Proceeds from finance receivables sold — 312,571 — 312,571 Sales and redemptions of marketable securities 40,014 — — 40,014 Other 251 — — 251 Net cash used by investing activities (115,702 ) (425,089 ) 161,888 (378,903 ) Cash flows from financing activities: Proceeds from issuance of medium-term notes — 1,193,396 — 1,193,396 Repayments of medium-term notes — (451,336 ) — (451,336 ) Repayments of securitization debt — (535,616 ) — (535,616 ) Borrowings of asset-backed commercial paper — 33,428 — 33,428 Repayments of asset-backed commercial paper — (55,170 ) — (55,170 ) Net decrease in credit facilities and unsecured commercial paper — (146,328 ) — (146,328 ) Net change in restricted cash — 30,981 — 30,981 Dividends paid (190,387 ) (183,000 ) 183,000 (190,387 ) Purchase of common stock for treasury (374,234 ) — — (374,234 ) Excess tax benefits from share-based payments 1,291 — — 1,291 Issuance of common stock under employee stock option plans 6,444 — — 6,444 Net cash used by financing activities (556,886 ) (113,645 ) 183,000 (487,531 ) Effect of exchange rate changes on cash and cash equivalents 7,110 (410 ) — 6,700 Net increase in cash and cash equivalents $ 38,432 $ 29,643 $ — $ 68,075 Cash and cash equivalents: Cash and cash equivalents—beginning of period $ 400,443 $ 321,766 $ — $ 722,209 Net increase in cash and cash equivalents 38,432 29,643 — 68,075 Cash and cash equivalents—end of period $ 438,875 $ 351,409 $ — $ 790,284

Basis of Presentation and Use38

Basis of Presentation and Use of Estimates (Narrative) (Detail)	9 Months Ended
	Sep. 24, 2017segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	2

Additional Balance Sheet and 39

Additional Balance Sheet and Cash Flow Information (Marketable Securities) (Detail) - USD ($) $ in Thousands	Sep. 24, 2017	Dec. 31, 2016	Sep. 25, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Available-for-sale securities: corporate bonds	$ 0	$ 5,519	$ 5,038
Trading securities: mutual funds	45,726	38,119	39,063
Marketable Securities	$ 45,726	$ 43,638	$ 44,101

Additional Balance Sheet and 40

Additional Balance Sheet and Cash Flow Information (Inventories, Net) (Detail) - USD ($) $ in Thousands	Sep. 24, 2017	Dec. 31, 2016	Sep. 25, 2016
Inventory [Line Items]
Raw materials and work in process	$ 155,947	$ 140,639	$ 159,209
Inventory at lower of FIFO cost or net realizable value	517,358	548,184	475,815
Excess of FIFO over LIFO cost	(48,267)	(48,267)	(49,268)
Inventories, net	469,091	499,917	426,547
Motorcycles
Inventory [Line Items]
Finished goods	232,141	285,281	182,019
Parts and Accessories and General Merchandise
Inventory [Line Items]
Finished goods	$ 129,270	$ 122,264	$ 134,587

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		9 Months Ended
	Sep. 24, 2017	Sep. 25, 2016	Sep. 24, 2017	Sep. 25, 2016
Cash flows from operating activities:
Net income	$ 68,209	$ 114,065	$ 513,445	$ 644,985
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of intangibles			163,974	154,565
Amortization of deferred loan origination costs			62,052	65,445
Amortization of financing origination fees			6,112	7,212
Pension and Other Postretirement Benefits Cost (Reversal of Cost)			22,427	28,508
Employee benefit plan contributions and payments			(43,060)	(47,658)
Stock compensation expense			25,581	24,909
Net change in wholesale finance receivables related to sales			36,678	(169,599)
Provision for credit losses	$ 29,253	$ 36,543	99,059	97,127
Gain on off-balance sheet asset-backed securitization			0	(9,269)
Gain (Loss) on Extinguishment of Debt			0	118
Deferred income taxes			(5,151)	(11,261)
Other, net			(11,122)	(23,270)
Changes in current assets and liabilities:
Accounts receivable, net			(29,167)	(86,796)
Finance receivables - accrued interest and other			317	364
Inventories			50,016	173,975
Accounts payable and accrued liabilities			88,758	97,190
Derivative instruments			2,752	(1,992)
Other			(33,596)	(16,744)
Total adjustments			435,630	282,824
Net cash provided by operating activities			$ 949,075	$ 927,809

Finance Receivables (Narrative)

Finance Receivables (Narrative) (Detail) - USD ($)	9 Months Ended
	Sep. 24, 2017	Dec. 31, 2016	Sep. 25, 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	1,300,000	300,000	400,000
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	$ 32,700,000	$ 40,400,000	$ 31,300,000

Finance Receivables (Finance Re

Finance Receivables (Finance Receivables) (Detail) - USD ($) $ in Thousands	Sep. 24, 2017	Jun. 25, 2017	Dec. 31, 2016	Sep. 25, 2016	Jun. 26, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, gross	$ 7,296,607		$ 7,008,801	$ 7,321,482
Allowance for credit losses	(195,582)	$ (193,528)	(173,343)	(171,516)	$ (161,353)	$ (147,178)
Finance receivables, net	7,101,025		6,835,458	7,149,966
Retail
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, gross	6,336,447		5,982,211	6,165,999
Allowance for credit losses	(189,664)	(185,899)	(166,810)	(164,761)	(152,998)	(139,320)
Wholesale
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, gross	960,160		1,026,590	1,155,483
Allowance for credit losses	$ (5,918)	$ (7,629)	$ (6,533)	$ (6,755)	$ (8,355)	$ (7,858)

Finance Receivables (Changes In

Finance Receivables (Changes In Allowance For Credit Losses On Finance Receivables) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 24, 2017	Sep. 25, 2016	Sep. 24, 2017	Sep. 25, 2016	Dec. 31, 2016
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance, beginning of period	$ 193,528	$ 161,353	$ 173,343	$ 147,178
Provision for credit losses	29,253	36,543	99,059	97,127
Charge-offs	(37,783)	(35,749)	(114,081)	(101,853)
Recoveries	10,584	9,369	37,261	32,355
Other				(3,291)
Balance, end of period	195,582	171,516	195,582	171,516
Current unpaid balance - off-balance sheet retail motorcycle finance receivables	165,169	262,583	165,169	262,583	$ 236,706
Current unpaid balance - on-balance sheet retail motorcycle finance receivables	6,185,144	6,017,065	6,185,144	6,017,065	$ 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	185,899	152,998	166,810	139,320
Provision for credit losses	30,964	38,143	99,674	98,230
Charge-offs	(37,783)	(35,749)	(114,081)	(101,853)
Recoveries	10,584	9,369	37,261	32,355
Other				(3,291)
Balance, end of period	189,664	164,761	189,664	164,761
Wholesale
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance, beginning of period	7,629	8,355	6,533	7,858
Provision for credit losses	(1,711)	(1,600)	(615)	(1,103)
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Other				0
Balance, end of period	$ 5,918	$ 6,755	$ 5,918	$ 6,755

Finance Receivables (Allowance

Finance Receivables (Allowance For Credit Losses And Finance Receivables By Portfolio Individually And Collectively Evaluated For Impairment) (Detail) - USD ($)	Sep. 24, 2017	Jun. 25, 2017	Dec. 31, 2016	Sep. 25, 2016	Jun. 26, 2016	Dec. 31, 2015
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment	$ 0		$ 0	$ 0
Collectively evaluated for impairment	195,582,000		173,343,000	171,516,000
Total allowance for credit losses	195,582,000	$ 193,528,000	173,343,000	171,516,000	$ 161,353,000	$ 147,178,000
Individually evaluated for impairment	0		0	0
Collectively evaluated for impairment	7,296,607,000		7,008,801,000	7,321,482,000
Financing receivable, gross	7,296,607,000		7,008,801,000	7,321,482,000
Retail
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment	0		0	0
Collectively evaluated for impairment	189,664,000		166,810,000	164,761,000
Total allowance for credit losses	189,664,000	185,899,000	166,810,000	164,761,000	152,998,000	139,320,000
Individually evaluated for impairment	0		0	0
Collectively evaluated for impairment	6,336,447,000		5,982,211,000	6,165,999,000
Financing receivable, gross	6,336,447,000		5,982,211,000	6,165,999,000
Wholesale
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment	0		0	0
Collectively evaluated for impairment	5,918,000		6,533,000	6,755,000
Total allowance for credit losses	5,918,000	$ 7,629,000	6,533,000	6,755,000	$ 8,355,000	$ 7,858,000
Individually evaluated for impairment	0		0	0
Collectively evaluated for impairment	960,160,000		1,026,590,000	1,155,483,000
Financing receivable, gross	$ 960,160,000		$ 1,026,590,000	$ 1,155,483,000

Finance Receivables (Aging Of P

Finance Receivables (Aging Of Past Due Finance Receivables Including Non Accrual Status Finance Receivables) (Detail) - USD ($) $ in Thousands	Sep. 24, 2017	Dec. 31, 2016	Sep. 25, 2016
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 205,181	$ 222,988	$ 193,757
Total finance receivables	7,296,607	7,008,801	7,321,482
Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivable, current	7,091,426	6,785,813	7,127,725
31-60 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	127,034	132,302	120,075
61-90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	44,178	49,961	41,980
Greater than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	33,969	40,725	31,702
Retail
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	203,450	221,393	192,891
Total finance receivables	6,336,447	5,982,211	6,165,999
Retail | Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivable, current	6,132,997	5,760,818	5,973,108
Retail | 31-60 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	126,705	131,302	119,709
Retail | 61-90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	44,083	49,642	41,866
Retail | Greater than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	32,662	40,449	31,316
Wholesale
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	1,731	1,595	866
Total finance receivables	960,160	1,026,590	1,155,483
Wholesale | Current
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivable, current	958,429	1,024,995	1,154,617
Wholesale | 31-60 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	329	1,000	366
Wholesale | 61-90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	95	319	114
Wholesale | Greater than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 1,307	$ 276	$ 386

Finance Receivables (Recorded I

Finance Receivables (Recorded Investment Of Retail and Wholesale Finance Receivables By Credit Quality Indicator) (Detail) - USD ($) $ in Thousands	Sep. 24, 2017	Dec. 31, 2016	Sep. 25, 2016
Financing Receivable, Recorded Investment [Line Items]
Financing receivable, gross	$ 7,296,607	$ 7,008,801	$ 7,321,482
Retail
Financing Receivable, Recorded Investment [Line Items]
Financing receivable, gross	6,336,447	5,982,211	6,165,999
Retail | Prime
Financing Receivable, Recorded Investment [Line Items]
Financing receivable, gross	5,107,718	4,768,420	4,900,752
Retail | Sub-prime
Financing Receivable, Recorded Investment [Line Items]
Financing receivable, gross	1,228,729	1,213,791	1,265,247
Wholesale
Financing Receivable, Recorded Investment [Line Items]
Financing receivable, gross	960,160	1,026,590	1,155,483
Wholesale | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Financing receivable, gross	4,666	1,333	0
Wholesale | Substandard
Financing Receivable, Recorded Investment [Line Items]
Financing receivable, gross	8,724	1,773	16,244
Wholesale | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Financing receivable, gross	5,261	30,152	0
Wholesale | Medium Risk
Financing Receivable, Recorded Investment [Line Items]
Financing receivable, gross	4,987	14,620	7,667
Wholesale | Low Risk
Financing Receivable, Recorded Investment [Line Items]
Financing receivable, gross	$ 936,522	$ 978,712	$ 1,131,572

Fair Value Measurements (Summar

Fair Value Measurements (Summary of Assets And Liabilities Measured at Fair Value) (Detail) - USD ($) $ in Thousands	Sep. 24, 2017	Dec. 31, 2016	Sep. 25, 2016
Fair Value
Assets:
Cash equivalents	$ 683,134	$ 759,984	$ 790,284
Marketable securities	45,726	43,638	44,101
Derivatives	724	29,034	6,606
Liabilities:
Derivatives, liabilities	32,414	142	1,388
Fair Value, Measurements, Recurring
Assets:
Cash equivalents	425,000	531,519	526,228
Marketable securities	45,726	43,638	44,101
Derivatives	724	29,034	6,606
Assets, fair value	471,450	604,191	576,935
Liabilities:
Derivatives, liabilities	32,414	142	1,388
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Cash equivalents	425,000	426,266	372,850
Marketable securities	45,726	38,119	39,063
Derivatives	0	0	0
Assets, fair value	470,726	464,385	411,913
Liabilities:
Derivatives, liabilities	0	0	0
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2)
Assets:
Cash equivalents	0	105,253	153,378
Marketable securities	0	5,519	5,038
Derivatives	724	29,034	6,606
Assets, fair value	724	139,806	165,022
Liabilities:
Derivatives, liabilities	32,414	142	1,388
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	9,000	9,300	8,200
Fair Value, Measurements, Nonrecurring | Significant Other Observable Inputs (Level 2) | Fair Value
Liabilities:
Repossessed inventory	$ 21,300	$ 19,300	$ 18,500

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	Sep. 24, 2017	Dec. 31, 2016	Sep. 25, 2016
Fair Value
Assets:
Cash equivalents	$ 683,134	$ 759,984	$ 790,284
Marketable securities	45,726	43,638	44,101
Derivatives	724	29,034	6,606
Finance receivables, net	7,159,632	6,921,037	7,233,923
Restricted cash	63,380	67,147	79,661
Liabilities:
Derivatives	32,414	142	1,388
Fair Value | Secured Debt | Asset-Backed U.S. Commercial Paper Conduit Facility VIE [Member]
Liabilities:
Long-term debt, fair value	280,308	0	0
Fair Value | Secured Debt | Asset-backed Canadian commercial paper conduit facility
Liabilities:
Long-term debt, fair value	122,130	149,338	140,488
Fair Value | Secured Debt | Asset-backed securitization debt
Liabilities:
Long-term debt, fair value	430,038	797,688	929,775
Fair Value | Medium-term notes
Liabilities:
Long-term debt, fair value	4,612,083	4,139,462	4,199,753
Fair Value | Senior unsecured notes
Liabilities:
Long-term debt, fair value	774,693	744,552	800,818
Carrying Value
Assets:
Cash equivalents	683,134	759,984	790,284
Marketable securities	45,726	43,638	44,101
Derivatives	724	29,034	6,606
Finance receivables, net	7,101,025	6,835,458	7,149,966
Restricted cash	63,380	67,147	79,661
Liabilities:
Derivatives	32,414	142	1,388
Carrying Value | Commercial Paper
Liabilities:
Short-term debt, fair value	834,875	1,055,708	1,055,428
Carrying Value | Secured Debt | Asset-Backed U.S. Commercial Paper Conduit Facility VIE [Member]
Liabilities:
Long-term debt, fair value	280,308	0	0
Carrying Value | Secured Debt | Asset-backed Canadian commercial paper conduit facility
Liabilities:
Long-term debt, fair value	122,130	149,338	140,488
Carrying Value | Secured Debt | Asset-backed securitization debt
Liabilities:
Long-term debt, fair value	429,833	796,275	925,619
Carrying Value | Medium-term notes
Liabilities:
Long-term debt, fair value	4,564,124	4,064,940	4,063,510
Carrying Value | Senior unsecured notes
Liabilities:
Long-term debt, fair value	$ 741,797	$ 741,306	$ 741,144

Derivative Instruments and He50

Derivative Instruments and Hedging Activities (Derivative Instrument Fair Value) (Detail) - USD ($) $ in Thousands	Sep. 24, 2017	Dec. 31, 2016	Sep. 25, 2016
Designated as Hedging Instrument | Cash Flow Hedging
Derivatives, Fair Value [Line Items]
Notional Value	$ 747,651	$ 555,543	$ 616,405
Designated as Hedging Instrument | Cash Flow Hedging | Other Current Assets
Derivatives, Fair Value [Line Items]
Asset Fair Value	439	28,705	6,447
Designated as Hedging Instrument | Cash Flow Hedging | Accrued Liabilities
Derivatives, Fair Value [Line Items]
Liability Fair Value	32,414	142	1,193
Designated as Hedging Instrument | Cash Flow Hedging | Foreign Currency Contracts
Derivatives, Fair Value [Line Items]
Notional Value	746,378	554,551	615,251
Designated as Hedging Instrument | Cash Flow Hedging | Foreign Currency Contracts | Other Current Assets
Derivatives, Fair Value [Line Items]
Asset Fair Value	439	28,528	6,337
Designated as Hedging Instrument | Cash Flow Hedging | Foreign Currency Contracts | Accrued Liabilities
Derivatives, Fair Value [Line Items]
Liability Fair Value	32,352	142	1,193
Designated as Hedging Instrument | Cash Flow Hedging | Commodity Contract
Derivatives, Fair Value [Line Items]
Notional Value	1,273	992	1,154
Designated as Hedging Instrument | Cash Flow Hedging | Commodity Contract | Other Current Assets
Derivatives, Fair Value [Line Items]
Asset Fair Value	0	177	110
Designated as Hedging Instrument | Cash Flow Hedging | Commodity Contract | Accrued Liabilities
Derivatives, Fair Value [Line Items]
Liability Fair Value	62	0	0
Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Notional Value	4,234	5,025	4,488
Not Designated as Hedging Instrument | Other Current Assets
Derivatives, Fair Value [Line Items]
Asset Fair Value	285	329	159
Not Designated as Hedging Instrument | Accrued Liabilities
Derivatives, Fair Value [Line Items]
Liability Fair Value	0	0	195
Not Designated as Hedging Instrument | Commodity Contract
Derivatives, Fair Value [Line Items]
Notional Value	4,234	5,025	4,488
Not Designated as Hedging Instrument | Commodity Contract | Other Current Assets
Derivatives, Fair Value [Line Items]
Asset Fair Value	285	329	159
Not Designated as Hedging Instrument | Commodity Contract | Accrued Liabilities
Derivatives, Fair Value [Line Items]
Liability Fair Value	$ 0	$ 0	$ 195

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		9 Months Ended
	Sep. 24, 2017	Sep. 25, 2016	Sep. 24, 2017	Sep. 25, 2016
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain/(Loss) Recognized in OCI, before tax	$ (35,692)	$ (895)	$ (60,245)	$ (5,475)
Amount of Gain/(Loss) Reclassified from AOCL into Income	(8,043)	2,330	(1,694)	6,237
Expected to be Reclassified Over the Next Twelve Months			(31,892)
Foreign Currency Contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain/(Loss) Recognized in OCI, before tax	(35,687)	(938)	(59,335)	(5,445)
Foreign Currency Contracts | Cost of Sales
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain/(Loss) Reclassified from AOCL into Income	(7,901)	2,399	(1,428)	6,806
Expected to be Reclassified Over the Next Twelve Months			(31,324)
Commodity Contract
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain/(Loss) Recognized in OCI, before tax	(5)	43	(191)	(30)
Commodity Contract | Cost of Sales
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain/(Loss) Reclassified from AOCL into Income	(16)	21	49	(298)
Expected to be Reclassified Over the Next Twelve Months			(62)
Treasury Rate Locks
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain/(Loss) Recognized in OCI, before tax	0	0	(719)	0
Treasury Rate Locks | Interest Expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain/(Loss) Reclassified from AOCL into Income	$ (126)	$ (90)	(315)	$ (271)
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		9 Months Ended
	Sep. 24, 2017	Sep. 25, 2016	Sep. 24, 2017	Sep. 25, 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	433	45	259	(179)
Not Designated as Hedging Instrument | Commodity Contract | Cost of Goods Sold
Derivative [Line Items]
Amount of Gain/(Loss) Recognized in Income on Derivative	$ 433	$ 45	$ 259	$ (179)

Accumulated Other Comprehensi53

Accumulated Other Comprehensive Loss (Changes In Other Comprehensive Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 24, 2017	Sep. 25, 2016	Sep. 24, 2017	Sep. 25, 2016
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period			$ 1,920,158
Total other comprehensive income, net of tax	$ 14,863	$ 9,383	36,299	$ 34,427
Balance, end of period	1,856,820	1,992,368	1,856,820	1,992,368
AOCI Attributable to Parent [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	(543,945)	(590,161)	(565,381)	(615,205)
Other comprehensive income (loss) before reclassifications	(8,938)	2,661	(6,515)	15,046
Income tax (benefit) expense	11,479	618	19,978	593
Net other comprehensive income (loss) before reclassifications	2,541	3,279	13,463	15,639
Total reclassifications before tax	19,569	9,696	36,268	29,841
Reclassifications from AOCI, Income tax expense (benefit)	(7,247)	(3,592)	(13,432)	(11,053)
Net reclassifications	12,322	6,104	22,836	18,788
Total other comprehensive income, net of tax	14,863	9,383	36,299	34,427
Balance, end of period	(529,082)	(580,778)	(529,082)	(580,778)
AOCI Attributable to Parent [Member] | Foreign Currency Contracts
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Total reclassifications before tax	7,901	(2,399)	1,428	(6,806)
AOCI Attributable to Parent [Member] | Commodity Contract
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Total reclassifications before tax	16	(21)	(49)	298
AOCI Attributable to Parent [Member] | Treasury Rate Locks
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Total reclassifications before tax	126	90	315	271
Foreign currency translation adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	(42,938)	(43,523)	(68,132)	(58,844)
Other comprehensive income (loss) before reclassifications	26,754	3,574	51,834	20,661
Income tax (benefit) expense	(1,741)	279	(1,627)	(1,487)
Net other comprehensive income (loss) before reclassifications	25,013	3,853	50,207	19,174
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	25,013	3,853	50,207	19,174
Balance, end of period	(17,925)	(39,670)	(17,925)	(39,670)
Marketable securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	0	(1,171)	(1,194)	(1,094)
Other comprehensive income (loss) before reclassifications	0	(18)	1,896	(140)
Income tax (benefit) expense	0	7	(702)	52
Net other comprehensive income (loss) before reclassifications	0	(11)	1,194	(88)
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	0	(11)	1,194	(88)
Balance, end of period	0	(1,182)	0	(1,182)
Derivative financial instruments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	(6,940)	543	12,524	5,886
Other comprehensive income (loss) before reclassifications	(35,692)	(895)	(60,245)	(5,475)
Income tax (benefit) expense	13,220	332	22,307	2,028
Net other comprehensive income (loss) before reclassifications	(22,472)	(563)	(37,938)	(3,447)
Total reclassifications before tax	8,043	(2,330)	1,694	(6,237)
Reclassifications from AOCI, Income tax expense (benefit)	(2,978)	862	(627)	2,310
Net reclassifications	5,065	(1,468)	1,067	(3,927)
Total other comprehensive income, net of tax	(17,407)	(2,031)	(36,871)	(7,374)
Balance, end of period	(24,347)	(1,488)	(24,347)	(1,488)
Derivative financial instruments | Foreign Currency Contracts
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Total reclassifications before tax	7,901	(2,399)	1,428	(6,806)
Derivative financial instruments | Commodity Contract
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Total reclassifications before tax	16	(21)	(49)	298
Derivative financial instruments | Treasury Rate Locks
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Total reclassifications before tax	126	90	315	271
Pension and postretirement benefit plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	(494,067)	(546,010)	(508,579)	(561,153)
Other comprehensive income (loss) before reclassifications	0	0	0	0
Income tax (benefit) expense	0	0	0	0
Net other comprehensive income (loss) before reclassifications	0	0	0	0
Total reclassifications before tax	11,526	12,026	34,574	36,078
Reclassifications from AOCI, Income tax expense (benefit)	(4,269)	(4,454)	(12,805)	(13,363)
Net reclassifications	7,257	7,572	21,769	22,715
Total other comprehensive income, net of tax	7,257	7,572	21,769	22,715
Balance, end of period	(486,810)	(538,438)	(486,810)	(538,438)
Pension and postretirement benefit plans - Prior service credits
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Total reclassifications before tax	(287)	(446)	(865)	(1,338)
Pension and postretirement benefit plans - Actuarial losses
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Total reclassifications before tax	$ 11,813	$ 12,472	$ 35,439	$ 37,416

Debt (Debt With Contractual Ter

Debt (Debt With Contractual Term Less Than One Year) (Detail) - USD ($) $ in Thousands	Sep. 24, 2017	Dec. 31, 2016	Sep. 25, 2016
Short-term Debt [Line Items]
Short-term debt	$ 834,875	$ 1,055,708	$ 1,055,428
Commercial Paper
Short-term Debt [Line Items]
Short-term debt	$ 834,875	$ 1,055,708	$ 1,055,428

Debt (Debt With A Contractual T

Debt (Debt With A Contractual Term Greater Than One Year) (Detail) - USD ($) $ in Thousands	Sep. 24, 2017	Dec. 31, 2016	Sep. 25, 2016
Debt Instrument [Line Items]
Gross long-term debt	$ 6,138,192	$ 5,751,859	$ 5,870,761
Less: current portion of long-term debt, net of unamortized discount and debt issuance costs	(1,530,401)	(1,084,884)	(700,152)
Long-term debt, net	4,607,791	4,666,975	5,170,609
Secured Debt
Debt Instrument [Line Items]
Less: unamortized discount and debt issuance costs	(624)	(1,480)	(1,920)
Gross long-term debt	832,271	945,613	1,066,107
Secured Debt | Asset-backed Canadian commercial paper conduit facility
Debt Instrument [Line Items]
Long-term debt, gross	122,130	149,338	140,488
Secured Debt | Asset-Backed U.S. Commercial Paper Conduit Facility VIE [Member]
Debt Instrument [Line Items]
Long-term debt, gross	280,308	0	0
Secured Debt | Asset-backed securitization debt
Debt Instrument [Line Items]
Long-term debt, gross	430,457	797,755	927,539
Unsecured Debt
Debt Instrument [Line Items]
Less: unamortized discount and debt issuance costs	(21,567)	(21,242)	(22,834)
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	$ 877,488
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						9 Months Ended
	Jul. 31, 2017USD ($)	Apr. 30, 2017USD ($)	Jan. 31, 2017USD ($)	Jun. 30, 2016CAD	Sep. 24, 2017USD ($)	Jun. 25, 2017USD ($)	Mar. 26, 2017USD ($)	Sep. 25, 2016USD ($)	Jun. 26, 2016USD ($)	Mar. 27, 2016USD ($)	Sep. 24, 2017USD ($)	Sep. 25, 2016USD ($)	Dec. 31, 2016USD ($)	Dec. 14, 2016USD ($)
Variable Interest Entity [Line Items]
Company issued secured notes, net of discount and issuance costs					$ 6,138,192,000			$ 5,870,761,000			$ 6,138,192,000	$ 5,870,761,000	$ 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					165,200,000						165,200,000
Secured Debt
Variable Interest Entity [Line Items]
Company issued secured notes, net of discount and issuance costs					832,271,000			1,066,107,000			832,271,000	1,066,107,000	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	$ 29,600,000	$ 24,000,000	$ 300,000,000
Line of credit, maximum borrowing capacity														$ 900,000,000
Transfers on finance receivables	$ 34,100,000	$ 28,200,000	$ 333,400,000
Borrowings outstanding under conduit facility								0				0	$ 0
Debt instrument, term	5 years	5 years	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					0	$ 14,200,000	$ 6,300,000	$ 0	$ 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 220,000,000
Debt instrument, term				5 years
VIE, maximum loss exposure, amount					$ 23,100,000						$ 23,100,000

Asset-Backed Financing (Assets

Asset-Backed Financing (Assets And Liabilities Of Variable Interest Entities) (Detail) - USD ($) $ in Thousands	Sep. 24, 2017	Dec. 31, 2016	Sep. 25, 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	$ 949,253	$ 1,059,523	$ 1,174,508
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	511,643	893,804	1,019,378
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	298,197	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	139,413	165,719	155,130
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	(27,591)	(29,041)	(31,091)
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	(15,798)	(25,468)	(27,847)
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	(9,233)	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	(2,560)	(3,573)	(3,244)
Restricted cash
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Transfers accounts for as secured borrowings, assets, carrying amount	63,380	67,147	79,661
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	40,385	57,057	69,364
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	14,922	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	8,073	10,090	10,297
Other assets
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Transfers accounts for as secured borrowings, assets, carrying amount	2,790	3,207	3,394
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	1,513	2,452	2,893
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	927	329	150
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	350	426	351
Total assets
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Transfers accounts for as secured borrowings, assets, carrying amount	987,832	1,100,836	1,226,472
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	537,743	927,845	1,063,788
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	304,813	329	150
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	145,276	172,662	162,534
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	832,271	945,613	1,066,107
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	429,833	796,275	925,619
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	280,308	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	$ 122,130	$ 149,338	$ 140,488

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						9 Months Ended
	Sep. 24, 2017	Jun. 25, 2017	Mar. 26, 2017	Sep. 25, 2016	Jun. 26, 2016	Mar. 27, 2016	Sep. 24, 2017	Sep. 25, 2016
Variable Interest Entity [Line Items]
Transfers on finance receivables	$ 0	$ 14,200	$ 6,300	$ 0	$ 31,400	$ 6,600	$ 20,500	$ 38,000
Foreign Line of Credit
Variable Interest Entity [Line Items]
Proceeds on finance receivables	$ 0	$ 12,400	$ 5,500	$ 0	$ 27,500	$ 5,800	$ 17,900	$ 33,300

Asset-Backed Financing (Servici

Asset-Backed Financing (Servicing Activities) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 24, 2017	Sep. 25, 2016	Sep. 24, 2017	Sep. 25, 2016	Dec. 31, 2016
Transfers and Servicing [Abstract]
Servicing and ancillary fees			$ 1,500	$ 1,000
Current unpaid balance - on-balance sheet retail motorcycle finance receivables	$ 6,185,144	$ 6,017,065	6,185,144	6,017,065	$ 5,839,467
Current unpaid balance - off-balance sheet retail motorcycle finance receivables	165,169	262,583	165,169	262,583	236,706
Current unpaid balance - total serviced retail motorcycle finance receivables	6,350,313	6,279,648	6,350,313	6,279,648	6,076,173
Delinquent - on-balance sheet retail motorcycle finance receivables	203,450	192,891	203,450	192,891	221,393
Delinquent - off-balance sheet retail motorcycle finance receivables	1,720	1,235	1,720	1,235	1,858
Delinquent - total serviced retail motorcycle finance receivables	205,170	194,126	205,170	194,126	$ 223,251
Credit losses net of recoveries - on-balance sheet retail motorcycle finance receivables	27,199	26,380	76,820	69,498
Credit losses net of recoveries - off-balance sheet retail motorcycle finance receivables	299	270	865	285
Credit losses net of recoveries - total serviced retail motorcycle finance receivables	$ 27,498	$ 26,650	$ 77,685	$ 69,783

Income Taxes (Detail)

Income Taxes (Detail)	9 Months Ended
	Sep. 24, 2017	Sep. 25, 2016
Income Tax Disclosure [Abstract]
Income tax rate	33.20%	32.90%

Product Warranty and Safety R61

Product Warranty and Safety Recall Campaigns (Narrative) (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 24, 2017	Jun. 25, 2017	Dec. 31, 2016	Sep. 25, 2016	Jun. 26, 2016	Dec. 31, 2015
Product Information [Line Items]
Liability for recall campaigns	$ 70,807	$ 80,681	$ 79,482	$ 85,523	$ 82,480	$ 74,217
Recall Campaign
Product Information [Line Items]
Liability for recall campaigns	$ 6,200		$ 13,600	$ 19,500
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 R62

Product Warranty and Safety Recall Campaigns (Warranty and Safety Recall Liability) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 24, 2017	Sep. 25, 2016	Sep. 24, 2017	Sep. 25, 2016
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance, beginning of period	$ 80,681	$ 82,480	$ 79,482	$ 74,217
Warranties issued during the period	11,802	11,107	46,638	49,321
Settlements made during the period	(22,322)	(30,512)	(62,855)	(71,354)
Recalls and changes to pre-existing warranty liabilities	646	22,448	7,542	33,339
Balance, end of period	$ 70,807	$ 85,523	$ 70,807	$ 85,523

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Detail) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 24, 2017	Sep. 25, 2016	Sep. 24, 2017	Sep. 25, 2016
Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares considered anti-dilutive and excluded from computation	0.9	1.2	0.8	1.5

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		9 Months Ended
	Sep. 24, 2017	Sep. 25, 2016	Sep. 24, 2017	Sep. 25, 2016
Numerator:
Net income used in computing basic and diluted earnings per share	$ 68,209	$ 114,065	$ 513,445	$ 644,985
Denominator:
Denominator for basic earnings per share - weighted-average common shares (in shares)	169,850	178,438	173,362	180,779
Effect of dilutive securities - employee stock compensation plan (in shares)	838	882	941	803
Denominator for diluted earnings per share - adjusted weighted-average shares outstanding (in shares)	170,688	179,320	174,303	181,582
Basic (in dollars per share)	$ 0.40	$ 0.64	$ 2.96	$ 3.57
Diluted (in dollars per share)	$ 0.40	$ 0.64	$ 2.95	$ 3.55

Employee Benefit Plans (Narrati

Employee Benefit Plans (Narrative) (Detail) $ in Millions	9 Months Ended
	Sep. 24, 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		9 Months Ended
	Sep. 24, 2017	Sep. 25, 2016	Sep. 24, 2017	Sep. 25, 2016
Pension and SERPA Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 7,896	$ 8,359	$ 23,688	$ 25,077
Interest cost	21,269	22,707	63,807	68,121
Expected return on plan assets	(35,345)	(36,445)	(106,035)	(109,335)
Amortization of unrecognized: Prior service cost	256	255	764	765
Amortization of unrecognized: Net loss	10,998	11,588	32,994	34,764
Settlement loss	0	300	0	900
Net periodic benefit cost	5,074	6,764	15,218	20,292
Postretirement Healthcare Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	1,875	1,870	5,625	5,610
Interest cost	3,412	3,704	10,236	11,112
Expected return on plan assets	(3,156)	(3,017)	(9,468)	(9,051)
Amortization of unrecognized: Prior service cost	(543)	(701)	(1,629)	(2,103)
Amortization of unrecognized: Net loss	815	884	2,445	2,652
Net periodic benefit cost	$ 2,403	$ 2,740	$ 7,209	$ 8,220

Business Segments (Narrative) (

Business Segments (Narrative) (Detail)	9 Months Ended
	Sep. 24, 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		9 Months Ended
	Sep. 24, 2017	Sep. 25, 2016	Sep. 24, 2017	Sep. 25, 2016
Segment Reporting Information [Line Items]
Motorcycles net revenue	$ 962,136	$ 1,091,630	$ 3,867,982	$ 4,338,353
Selling, administrative and engineering expense	293,904	292,710	857,704	904,322
Financial Services revenue	189,059	183,183	550,314	547,505
Operating income	96,708	178,376	789,768	979,526
Operating Segments | Motorcycles
Segment Reporting Information [Line Items]
Motorcycles net revenue	962,136	1,091,630	3,867,982	4,338,353
Gross profit	276,975	367,019	1,330,083	1,564,857
Selling, administrative and engineering expense	257,327	258,090	751,946	800,722
Operating income	19,648	108,929	578,137	764,135
Operating Segments | Financial Services
Segment Reporting Information [Line Items]
Financial Services revenue	189,059	183,183	550,314	547,505
Financial Services expense	111,999	113,736	338,683	332,114
Operating income	$ 77,060	$ 69,447	$ 211,631	$ 215,391

Commitments and Contingencies (

Commitments and Contingencies (Detail) - York, Pennsylvania Facility	9 Months Ended
	Sep. 24, 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 Da70

Supplemental Consolidating Data (Operations) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 24, 2017	Sep. 25, 2016	Sep. 24, 2017	Sep. 25, 2016
Revenue:
Motorcycles and Related Products	$ 962,136	$ 1,091,630	$ 3,867,982	$ 4,338,353
Financial Services	189,059	183,183	550,314	547,505
Total revenue	1,151,195	1,274,813	4,418,296	4,885,858
Costs and expenses:
Motorcycles and Related Products cost of goods sold	685,161	724,611	2,537,899	2,773,496
Financial Services interest expense	46,169	42,573	133,866	131,387
Provision for credit losses	29,253	36,543	99,059	97,127
Selling, administrative and engineering expense	293,904	292,710	857,704	904,322
Total costs and expenses	1,054,487	1,096,437	3,628,528	3,906,332
Operating income	96,708	178,376	789,768	979,526
Investment income	1,083	2,300	2,539	3,754
Interest expense	7,896	7,706	23,295	21,968
Income before provision for income taxes	89,895	172,970	769,012	961,312
Provision for income taxes	21,686	58,905	255,567	316,327
Net income	68,209	114,065	513,445	644,985
Reportable Legal Entities | Motorcycles And Related Products Operations
Revenue:
Motorcycles and Related Products	964,942	1,094,148	3,875,669	4,346,166
Financial Services	0	0	0	0
Total revenue	964,942	1,094,148	3,875,669	4,346,166
Costs and expenses:
Motorcycles and Related Products cost of goods sold	685,161	724,611	2,537,899	2,773,496
Financial Services interest expense	0	0	0	0
Provision for credit losses	0	0	0	0
Selling, administrative and engineering expense	257,723	258,541	753,232	802,139
Total costs and expenses	942,884	983,152	3,291,131	3,575,635
Operating income	22,058	110,996	584,538	770,531
Investment income	91,083	2,300	198,539	186,754
Interest expense	7,896	7,706	23,295	21,968
Income before provision for income taxes	105,245	105,590	759,782	935,317
Provision for income taxes	(6,134)	33,895	179,058	238,256
Net income	111,379	71,695	580,724	697,061
Reportable Legal Entities | Financial Services Operations
Revenue:
Motorcycles and Related Products	0	0	0	0
Financial Services	189,932	183,706	552,201	549,162
Total revenue	189,932	183,706	552,201	549,162
Costs and expenses:
Motorcycles and Related Products cost of goods sold	0	0	0	0
Financial Services interest expense	46,169	42,573	133,866	131,387
Provision for credit losses	29,253	36,543	99,059	97,127
Selling, administrative and engineering expense	39,383	37,139	113,445	111,414
Total costs and expenses	114,805	116,255	346,370	339,928
Operating income	75,127	67,451	205,831	209,234
Investment income	0	0	0	0
Interest expense	0	0	0	0
Income before provision for income taxes	75,127	67,451	205,831	209,234
Provision for income taxes	27,820	25,010	76,509	78,071
Net income	47,307	42,441	129,322	131,163
Eliminations
Revenue:
Motorcycles and Related Products	(2,806)	(2,518)	(7,687)	(7,813)
Financial Services	(873)	(523)	(1,887)	(1,657)
Total revenue	(3,679)	(3,041)	(9,574)	(9,470)
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	(3,202)	(2,970)	(8,973)	(9,231)
Total costs and expenses	(3,202)	(2,970)	(8,973)	(9,231)
Operating income	(477)	(71)	(601)	(239)
Investment income	(90,000)	0	(196,000)	(183,000)
Interest expense	0	0	0	0
Income before provision for income taxes	(90,477)	(71)	(196,601)	(183,239)
Provision for income taxes	0	0	0	0
Net income	$ (90,477)	$ (71)	$ (196,601)	$ (183,239)

Supplemental Consolidating Da71

Supplemental Consolidating Data (Balance Sheet) (Detail) - USD ($) $ in Thousands	Sep. 24, 2017	Dec. 31, 2016	Sep. 25, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 683,134	$ 759,984	$ 790,284	$ 722,209
Marketable securities	0	5,519	5,038
Accounts receivable, net	343,124	285,106	346,176
Finance receivables, net	2,058,168	2,076,261	2,205,644
Inventories	469,091	499,917	426,547
Restricted cash	52,209	52,574	65,088
Deferred income taxes	0	0	123,609
Other current assets	182,416	174,491	139,958
Total current assets	3,788,142	3,853,852	4,102,344
Finance receivables, net	5,042,857	4,759,197	4,944,322
Property, plant and equipment, net	934,615	981,593	954,475
Goodwill	55,898	53,391	54,663
Deferred income taxes	180,575	167,729	80,831
Other long-term assets	86,272	74,478	75,591
Total assets	10,088,359	9,890,240	10,212,226
Current liabilities:
Accounts payable	277,117	235,318	291,594
Accrued liabilities	573,958	486,652	506,533
Short-term debt	834,875	1,055,708	1,055,428
Current portion of long-term debt, net	1,530,401	1,084,884	700,152
Total current liabilities	3,216,351	2,862,562	2,553,707
Long-term debt, net	4,607,791	4,666,975	5,170,609
Pension liability	52,471	84,442	120,494
Postretirement healthcare benefits	162,925	173,267	182,825
Other long-term liabilities	192,001	182,836	192,223
Shareholders’ equity	1,856,820	1,920,158	1,992,368
Total liabilities and shareholders' equity	10,088,359	9,890,240	10,212,226
Reportable Legal Entities | Motorcycles And Related Products Operations
Current assets:
Cash and cash equivalents	311,029	425,540	438,875	400,443
Marketable securities		5,019	5,038
Accounts receivable, net	690,152	450,186	751,770
Finance receivables, net	0	0	0
Inventories	469,091	499,917	426,547
Restricted cash	0	0	0
Deferred income taxes			61,611
Other current assets	146,012	127,606	110,060
Total current assets	1,616,284	1,508,268	1,793,901
Finance receivables, net	0	0	0
Property, plant and equipment, net	892,260	942,634	917,984
Goodwill	55,898	53,391	54,663
Deferred income taxes	109,116	103,487	73,639
Other long-term assets	149,257	132,835	133,441
Total assets	2,822,815	2,740,615	2,973,628
Current liabilities:
Accounts payable	257,205	219,353	268,945
Accrued liabilities	479,753	395,907	419,675
Short-term debt	0	0	0
Current portion of long-term debt, net	0	0	0
Total current liabilities	736,958	615,260	688,620
Long-term debt, net	741,797	741,306	741,144
Pension liability	52,471	84,442	120,494
Postretirement healthcare benefits	162,925	173,267	182,825
Other long-term liabilities	154,696	150,391	160,784
Shareholders’ equity	973,968	975,949	1,079,761
Total liabilities and shareholders' equity	2,822,815	2,740,615	2,973,628
Reportable Legal Entities | Financial Services Operations
Current assets:
Cash and cash equivalents	372,105	334,444	351,409	321,766
Marketable securities		500	0
Accounts receivable, net	0	0	0
Finance receivables, net	2,058,168	2,076,261	2,205,644
Inventories	0	0	0
Restricted cash	52,209	52,574	65,088
Deferred income taxes			61,998
Other current assets	46,956	46,934	41,305
Total current assets	2,529,438	2,510,713	2,725,444
Finance receivables, net	5,042,857	4,759,197	4,944,322
Property, plant and equipment, net	42,355	38,959	36,491
Goodwill	0	0	0
Deferred income taxes	73,424	66,152	9,066
Other long-term assets	22,499	24,769	24,605
Total assets	7,710,573	7,399,790	7,739,928
Current liabilities:
Accounts payable	366,940	181,045	428,243
Accrued liabilities	104,814	90,910	98,268
Short-term debt	834,875	1,055,708	1,055,428
Current portion of long-term debt, net	1,530,401	1,084,884	700,152
Total current liabilities	2,837,030	2,412,547	2,282,091
Long-term debt, net	3,865,994	3,925,669	4,429,465
Pension liability	0	0	0
Postretirement healthcare benefits	0	0	0
Other long-term liabilities	34,071	29,697	28,425
Shareholders’ equity	973,478	1,031,877	999,947
Total liabilities and shareholders' equity	7,710,573	7,399,790	7,739,928
Eliminations
Current assets:
Cash and cash equivalents	0	0	0	$ 0
Marketable securities		0	0
Accounts receivable, net	(347,028)	(165,080)	(405,594)
Finance receivables, net	0	0	0
Inventories	0	0	0
Restricted cash	0	0	0
Deferred income taxes			0
Other current assets	(10,552)	(49)	(11,407)
Total current assets	(357,580)	(165,129)	(417,001)
Finance receivables, net	0	0	0
Property, plant and equipment, net	0	0	0
Goodwill	0	0	0
Deferred income taxes	(1,965)	(1,910)	(1,874)
Other long-term assets	(85,484)	(83,126)	(82,455)
Total assets	(445,029)	(250,165)	(501,330)
Current liabilities:
Accounts payable	(347,028)	(165,080)	(405,594)
Accrued liabilities	(10,609)	(165)	(11,410)
Short-term debt	0	0	0
Current portion of long-term debt, net	0	0	0
Total current liabilities	(357,637)	(165,245)	(417,004)
Long-term debt, net	0	0	0
Pension liability	0	0	0
Postretirement healthcare benefits	0	0	0
Other long-term liabilities	3,234	2,748	3,014
Shareholders’ equity	(90,626)	(87,668)	(87,340)
Total liabilities and shareholders' equity	$ (445,029)	$ (250,165)	$ (501,330)

Supplemental Consolidating Da72

Supplemental Consolidating Data (Cash Flows) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 24, 2017	Sep. 25, 2016	Sep. 24, 2017	Sep. 25, 2016
Cash flows from operating activities:
Net income	$ 68,209	$ 114,065	$ 513,445	$ 644,985
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of intangibles			163,974	154,565
Amortization of deferred loan origination costs			62,052	65,445
Amortization of financing origination fees			6,112	7,212
Pension and Other Postretirement Benefits Cost (Reversal of Cost)			22,427	28,508
Employee benefit plan contributions and payments			(43,060)	(47,658)
Stock compensation expense			25,581	24,909
Net change in wholesale finance receivables related to sales			36,678	(169,599)
Provision for credit losses	29,253	36,543	99,059	97,127
Gain on off-balance sheet securitization			0	(9,269)
Gain (Loss) on Extinguishment of Debt			0	(118)
Deferred income taxes			(5,151)	(11,261)
Other, net			(11,122)	(23,270)
Changes in current assets and liabilities:
Accounts receivable, net			(29,167)	(86,796)
Finance receivables - accrued interest and other			317	364
Inventories			50,016	173,975
Accounts payable and accrued liabilities			88,758	97,190
Derivative instruments			2,752	(1,992)
Other			(33,596)	(16,744)
Total adjustments			435,630	282,824
Net cash provided by operating activities			949,075	927,809
Cash flows from investing activities:
Capital expenditures			(114,022)	(162,726)
Origination of finance receivables			(2,927,372)	(3,009,479)
Collections on finance receivables			2,480,122	2,440,466
Proceeds from finance receivables sold			0	312,571
Sales and redemptions of marketable securities			6,916	40,014
Other			356	251
Net cash used by investing activities			(554,000)	(378,903)
Cash flows from financing activities:
Proceeds from issuance of medium-term notes			893,668	1,193,396
Repayments of medium-term notes			(400,000)	(451,336)
Repayments of securitization debt			(367,298)	(535,616)
Net decrease in credit facilities and unsecured commercial paper			(225,038)	(146,328)
Borrowings of asset-backed commercial paper			371,253	33,428
Repayments of asset-backed commercial paper			(129,690)	(55,170)
Net change in restricted cash			3,767	30,981
Dividends paid			(190,121)	(190,387)
Purchase of common stock for treasury			(465,167)	(374,234)
Excess tax benefits from share-based payments			0	1,291
Issuance of common stock under employee stock option plans			7,884	6,444
Net cash (used by) provided by financing activities			(500,742)	(487,531)
Effect of exchange rate changes on cash and cash equivalents			28,817	6,700
Net increase (decrease) in cash and cash equivalents			(76,850)	68,075
Cash and cash equivalents:
Cash and cash equivalents—beginning of period			759,984	722,209
Net increase in cash and cash equivalents			(76,850)	68,075
Cash and cash equivalents—end of period	683,134	790,284	683,134	790,284
Reportable Legal Entities | Motorcycles And Related Products Operations
Cash flows from operating activities:
Net income	111,379	71,695	580,724	697,061
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of intangibles			158,938	148,851
Amortization of deferred loan origination costs			0	0
Amortization of financing origination fees			491	491
Pension and Other Postretirement Benefits Cost (Reversal of Cost)			22,427	28,508
Employee benefit plan contributions and payments			(43,060)	(47,658)
Stock compensation expense			23,223	23,056
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
Gain (Loss) on Extinguishment of Debt				0
Deferred income taxes			3,450	(574)
Other, net			(14,671)	(24,157)
Changes in current assets and liabilities:
Accounts receivable, net			(211,115)	(348,996)
Finance receivables - accrued interest and other			0	0
Inventories			50,016	173,975
Accounts payable and accrued liabilities			75,957	74,269
Derivative instruments			2,708	(1,992)
Other			(45,830)	(18,924)
Total adjustments			22,534	6,849
Net cash provided by operating activities			603,258	703,910
Cash flows from investing activities:
Capital expenditures			(105,591)	(155,967)
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	40,014
Other			356	251
Net cash used by investing activities			(98,319)	(115,702)
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			(190,121)	(190,387)
Purchase of common stock for treasury			(465,167)	(374,234)
Excess tax benefits from share-based payments				1,291
Issuance of common stock under employee stock option plans			7,884	6,444
Net cash (used by) provided by financing activities			(647,404)	(556,886)
Effect of exchange rate changes on cash and cash equivalents			27,954	7,110
Net increase (decrease) in cash and cash equivalents			(114,511)	38,432
Cash and cash equivalents:
Cash and cash equivalents—beginning of period			425,540	400,443
Net increase in cash and cash equivalents			(114,511)	38,432
Cash and cash equivalents—end of period	311,029	438,875	311,029	438,875
Reportable Legal Entities | Financial Services Operations
Cash flows from operating activities:
Net income	47,307	42,441	129,322	131,163
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of intangibles			5,036	5,714
Amortization of deferred loan origination costs			62,052	65,445
Amortization of financing origination fees			5,621	6,721
Pension and Other Postretirement Benefits Cost (Reversal of Cost)			0	0
Employee benefit plan contributions and payments			0	0
Stock compensation expense			2,358	1,853
Net change in wholesale finance receivables related to sales			0	0
Provision for credit losses	29,253	36,543	99,059	97,127
Gain on off-balance sheet securitization				(9,269)
Gain (Loss) on Extinguishment of Debt				(118)
Deferred income taxes			(8,656)	(10,419)
Other, net			2,946	648
Changes in current assets and liabilities:
Accounts receivable, net			0	0
Finance receivables - accrued interest and other			317	364
Inventories			0	0
Accounts payable and accrued liabilities			199,855	277,142
Derivative instruments			44	0
Other			1,731	2,180
Total adjustments			370,363	437,624
Net cash provided by operating activities			499,685	568,787
Cash flows from investing activities:
Capital expenditures			(8,431)	(6,759)
Origination of finance receivables			(5,791,241)	(6,297,040)
Collections on finance receivables			5,386,123	5,566,139
Proceeds from finance receivables sold				312,571
Sales and redemptions of marketable securities			0	0
Other			0	0
Net cash used by investing activities			(413,549)	(425,089)
Cash flows from financing activities:
Proceeds from issuance of medium-term notes			893,668	1,193,396
Repayments of medium-term notes			(400,000)	(451,336)
Repayments of securitization debt			(367,298)	(535,616)
Net decrease in credit facilities and unsecured commercial paper			(225,038)	(146,328)
Borrowings of asset-backed commercial paper			371,253	33,428
Repayments of asset-backed commercial paper			(129,690)	(55,170)
Net change in restricted cash			3,767	30,981
Dividends paid			(196,000)	(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			(49,338)	(113,645)
Effect of exchange rate changes on cash and cash equivalents			863	(410)
Net increase (decrease) in cash and cash equivalents			37,661	29,643
Cash and cash equivalents:
Cash and cash equivalents—beginning of period			334,444	321,766
Net increase in cash and cash equivalents			37,661	29,643
Cash and cash equivalents—end of period	372,105	351,409	372,105	351,409
Eliminations
Cash flows from operating activities:
Net income	(90,477)	(71)	(196,601)	(183,239)
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 Benefits Cost (Reversal of Cost)			0	0
Employee benefit plan contributions and payments			0	0
Stock compensation expense			0	0
Net change in wholesale finance receivables related to sales			36,678	(169,599)
Provision for credit losses	0	0	0	0
Gain on off-balance sheet securitization				0
Gain (Loss) on Extinguishment of Debt				0
Deferred income taxes			55	(268)
Other, net			603	239
Changes in current assets and liabilities:
Accounts receivable, net			181,948	262,200
Finance receivables - accrued interest and other			0	0
Inventories			0	0
Accounts payable and accrued liabilities			(187,054)	(254,221)
Derivative instruments			0	0
Other			10,503	0
Total adjustments			42,733	(161,649)
Net cash provided by operating activities			(153,868)	(344,888)
Cash flows from investing activities:
Capital expenditures			0	0
Origination of finance receivables			2,863,869	3,287,561
Collections on finance receivables			(2,906,001)	(3,125,673)
Proceeds from finance receivables sold				0
Sales and redemptions of marketable securities			0	0
Other			0	0
Net cash used by investing activities			(42,132)	161,888
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			196,000	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			196,000	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