Harley-Davidson (HOG) 10-Q 6 May 21 2021 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 28, 2021	Apr. 30, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 28, 2021
Document Transition Report	false
Entity File Number	1-9183
Entity Registrant Name	Harley-Davidson, Inc.
Entity Incorporation, State or Country Code	WI
Entity Tax Identification Number	39-1382325
Entity Address, Address Line One	3700 West Juneau Avenue
Entity Address, City or Town	Milwaukee
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	53208
City Area Code	414
Local Phone Number	342-4680
Title of 12(b) Security	Common Stock Par Value $.01 PER SHARE
Trading Symbol	HOG
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		153,665,546
Entity Central Index Key	0000793952
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Revenue:
Total revenue	$ 1,422,507	$ 1,298,244
Costs and expenses:
Motorcycles and Related Products cost of goods sold	811,622	780,868
Financial Services interest expense	55,707	52,473
Financial Services provision for credit losses	(22,474)	79,419
Selling, administrative and engineering expense	231,844	277,971
Restructuring benefit	(366)	0
Total costs and expenses	1,076,333	1,190,731
Operating income	346,174	107,513
Other income, net	277	155
Investment income (loss)	1,402	(5,347)
Interest expense	7,708	7,755
Income before provision for income taxes	340,145	94,566
Provision for income taxes	81,001	24,871
Net income	$ 259,144	$ 69,695
Earnings per share:
Basic (in dollars per share)	$ 1.69	$ 0.46
Diluted (in dollars per share)	1.68	0.45
Cash dividends per share (in dollars per share)	$ 0.15	$ 0.38
Motorcycles and Related Products
Revenue:
Motorcycles and Related Products	$ 1,232,107	$ 1,099,788
Financial Services
Revenue:
Financial Services	$ 190,400	$ 198,456

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 259,144	$ 69,695
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(17,338)	(34,455)
Derivative financial instruments	17,530	(19,845)
Pension and postretirement benefit plans	13,588	11,959
Total other comprehensive loss, net of tax	13,780	(42,341)
Comprehensive income	$ 272,924	$ 27,354

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 28, 2021	Dec. 31, 2020	Mar. 29, 2020
Current assets:
Cash and cash equivalents	$ 2,320,645	$ 3,257,203	$ 1,465,061
Accounts receivable, net	216,569	143,082	299,148
Finance receivables, net of allowance of $64,139, $72,632, and $63,881	1,798,194	1,509,539	2,358,989
Inventories, net	470,997	523,497	610,924
Restricted cash	185,374	131,642	99,903
Other current assets	195,356	280,470	142,357
Total current assets	5,187,135	5,845,433	4,976,382
Finance receivables, net of allowance of $282,094, $318,304, and $271,615	4,958,583	4,933,469	4,933,418
Property, plant and equipment, net	718,968	743,784	826,845
Pension and postretirement assets	105,910	95,711	64,802
Goodwill	65,157	65,976	64,063
Deferred income taxes	135,387	158,538	127,856
Lease assets	44,765	45,203	56,496
Other long-term assets	123,083	122,487	90,085
Total assets	11,338,988	12,010,601	11,139,947
Current liabilities:
Accounts payable	402,764	290,904	333,411
Accrued liabilities	570,440	557,214	584,535
Short-term deposits, net	93,887	79,965	0
Short-term debt	765,263	1,014,274	1,335,664
Current portion of long-term debt, net	1,622,243	2,039,597	2,326,460
Total current liabilities	3,454,597	3,981,954	4,580,070
Long-term deposits, net	58,766	0	0
Long-term debt, net	5,478,091	5,932,933	4,478,078
Lease liabilities	30,061	30,115	40,053
Pension and postretirement liabilities	103,854	114,206	128,054
Deferred income taxes	8,682	8,607	6,219
Other long-term liabilities	228,551	220,001	215,490
Commitments and contingencies
Shareholders’ equity:
Common stock	1,690	1,685	1,834
Additional paid-in-capital	1,517,129	1,507,706	1,495,141
Retained earnings	1,520,862	1,284,823	2,126,646
Accumulated other comprehensive loss	(469,637)	(483,417)	(579,290)
Treasury stock, at cost	(593,658)	(588,012)	(1,352,348)
Total shareholders' equity	1,976,386	1,722,785	1,691,983
Total liabilities and shareholders' equity	11,338,988	12,010,601	11,139,947
Consolidated VIEs
Current assets:
Finance receivables, net of allowance of $64,139, $72,632, and $63,881	567,887	530,882	381,904
Other current assets	4,027	3,753	2,262
Finance receivables, net of allowance of $282,094, $318,304, and $271,615	2,113,344	1,889,472	1,435,832
Current liabilities:
Current portion of long-term debt, net	692,903	608,987	437,488
Long-term debt, net	1,757,003	1,585,174	1,319,357
Restricted cash - current and non-current	$ 196,946	$ 142,892	$ 99,235

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 28, 2021	Dec. 31, 2020	Mar. 29, 2020
Statement of Financial Position [Abstract]
Allowance for credit loss, current	$ 64,139	$ 72,632	$ 63,881
Allowance for credit loss, noncurrent	$ 282,094	$ 318,304	$ 271,615

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Cash flows from operating activities:
Net cash provided by operating activities	$ 162,781	$ (8,582)
Cash flows from investing activities:
Capital expenditures	(18,813)	(32,928)
Origination of finance receivables	(909,138)	(780,061)
Collections on finance receivables	900,485	841,261
Other investing activities	733	16
Net cash (used) provided by investing activities	(26,733)	28,288
Cash flows from financing activities:
Repayments of medium-term notes	(1,050,000)	(600,000)
Proceeds from securitization debt	597,411	522,694
Repayments of securitization debt	(291,346)	(130,918)
Borrowings of asset-backed commercial paper	0	225,187
Repayments of asset-backed commercial paper	(66,894)	(67,809)
Net decrease in unsecured commercial paper	(262,517)	772,208
Net increase in credit facilities	15,629	0
Net increase in deposits	72,664	0
Dividends paid	(23,105)	(58,817)
Repurchase of common stock	(5,646)	(7,071)
Issuance of common stock under share-based plans	1,085	34
Net cash (used) provided by financing activities	(1,012,719)	655,508
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(5,163)	(5,732)
Net (decrease) increase in cash, cash equivalents and restricted cash	(881,834)	669,482
Cash, cash equivalents and restricted cash, beginning of period	3,409,168	905,366
Net (decrease) increase in cash, cash equivalents and restricted cash	(881,834)	669,482
Cash, cash equivalents and restricted cash, end of period	2,527,334	1,574,848
Reconciliation of cash, cash equivalents and restricted cash on the Consolidated balance sheets to the Consolidated statements of cash flows:
Cash and cash equivalents	2,320,645	1,465,061
Restricted cash	185,374	99,903
Restricted cash included in Other long-term assets	$ 21,315	$ 9,884

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Cumulative Effect, Period Of Adoption, Adjustment	Common Stock	Additional Paid-in Capital	Retained Earnings	Retained EarningsCumulative Effect, Period Of Adoption, Adjustment	Accumulated Other Comprehensive Loss	Treasury Stock
Beginning balance (in shares) at Dec. 31, 2019			182,816,536
Balance, beginning of period at Dec. 31, 2019	$ 1,803,999	$ (78,229)	$ 1,828	$ 1,491,004	$ 2,193,997	$ (78,229)	$ (536,949)	$ (1,345,881)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	69,695				69,695
Other comprehensive income, net of tax	(42,341)						(42,341)
Dividends	(58,817)				(58,817)
Repurchase of common stock	(7,071)							(7,071)
Share-based compensation (in shares)			585,053
Share-based compensation	4,747		$ 6	4,137				604
Ending balance (in shares) at Mar. 29, 2020			183,401,589
Balance, end of period at Mar. 29, 2020	1,691,983		$ 1,834	1,495,141	2,126,646		(579,290)	(1,352,348)
Beginning balance (in shares) at Dec. 31, 2020			168,503,526
Balance, beginning of period at Dec. 31, 2020	1,722,785		$ 1,685	1,507,706	1,284,823		(483,417)	(588,012)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	259,144				259,144
Other comprehensive income, net of tax	13,780						13,780
Dividends	(23,105)				(23,105)
Repurchase of common stock	(5,646)							(5,646)
Share-based compensation (in shares)			483,326
Share-based compensation	9,428		$ 5	9,423
Ending balance (in shares) at Mar. 28, 2021			168,986,852
Balance, end of period at Mar. 28, 2021	$ 1,976,386		$ 1,690	$ 1,517,129	$ 1,520,862		$ (469,637)	$ (593,658)

CONSOLIDATED STATEMENTS OF SH_2

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Statement of Stockholders' Equity [Abstract]
Dividends (in dollars per share)	$ 0.15	$ 0.38

Basis of Presentation and Use o

Basis of Presentation and Use of Estimates	3 Months Ended
	Mar. 28, 2021
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 subsidiaries, all of which are wholly-owned (the Company), including the accounts of the groups of companies referred to 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 have been eliminated. The Company operates in two reportable segments: Motorcycles and Related Products (Motorcycles) and Financial Services. In the opinion of the Company's 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 March 28, 2021 and March 29, 2020, the Consolidated statements of operations for the three month periods then ended, the Consolidated statements of comprehensive income for the three month periods then ended, the Consolidated statements of cash flows for the three month periods then ended, and the Consolidated statements of shareholders' equity for the three month periods then ended. Certain information and 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. The consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. The preparation of consolidated financial statements in conformity with U.S. GAAP requires the Company's management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and the accompanying notes. Actual results could differ from those estimates. During the first quarter of 2020, the outbreak of a novel strain of coronavirus (COVID-19) spread throughout the world, and it was recognized as a pandemic in March 2020. The COVID-19 pandemic has restricted the level of economic activity in the U.S. and around the world and the full extent of its impact is not yet known. Certain estimates used in the preparation of financial results for the period ending March 28, 2021 could be impacted in future periods as a result of the COVID-19 pandemic.

New Accounting Standards

New Accounting Standards	3 Months Ended
	Mar. 28, 2021
Accounting Policies [Abstract]
New Accounting Standards	New Accounting StandardsAccounting Standards Recently AdoptedIn December 2019, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2019-12, Simplifying the Accounting for Income Taxes (ASU No. 2019-12). The new guidance eliminates certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The new guidance also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. The Company adopted ASU 2019-12 on January 1, 2021 on a prospective basis. The adoption of ASU 2019-12 did not have a material impact on the Company's consolidated financial statements.

Revenue

Revenue	3 Months Ended
	Mar. 28, 2021
Revenue from Contract with Customer [Abstract]
Revenue	Revenue The Company recognizes revenue when it satisfies a performance obligation by transferring control of a good or service to a customer. Revenue is measured based on the consideration that the Company expects to be entitled to in exchange for the goods or services transferred. Taxes that are collected from a customer concurrent with revenue-producing activities are excluded from revenue. Disaggregated revenue by major source was as follows (in thousands): Three months ended March 28, March 29, Motorcycles and Related Products Revenue: Motorcycles $ 1,016,334 $ 899,365 Parts & Accessories 149,859 134,685 General Merchandise 50,323 49,160 Licensing 5,512 8,029 Other 10,079 8,549 1,232,107 1,099,788 Financial Services Revenue: Interest income 159,814 170,001 Other 30,586 28,455 190,400 198,456 $ 1,422,507 $ 1,298,244 The Company maintains certain deferred revenue balances related to payments received at contract inception in advance of the Company’s performance under the contract and generally relates to the sale of Harley Owners Group® memberships and extended service plan contracts. Deferred revenue is recognized as revenue as the Company performs under the contract. Deferred revenue, included in Accrued liabilities and Other long-term liabilities on the Consolidated balance sheets , was as follows (in thousands): March 28, March 29, Balance, beginning of period $ 36,614 $ 29,745 Balance, end of period $ 36,266 $ 29,434

Restructuring Activities

Restructuring Activities	3 Months Ended
	Mar. 28, 2021
Restructuring and Related Activities [Abstract]
Restructuring Activities	Restructuring Activities The Company's restructuring activities are included in Restructuring benefit on the Consolidated statements of operations . In 2020, the Company initiated restructuring activities including a workforce reduction, the termination of certain current and future products, facility changes, optimizing its global independent dealer network, exiting certain international markets, and discontinuing its sales and manufacturing operations in India. The workforce reduction resulted in the termination of approximately 500 employees. In addition, the India action resulted in the termination of approximately 70 employees. Since the inception of these restructuring activities in 2020 through the three months ended March 28, 2021, the Company has incurred cumulative restructuring expenses of $129.6 million. This includes a restructuring benefit during the three months ended March 28, 2021 of $0.4 million, consisting of a $0.6 million benefit in the Motorcycles segment and expense of $0.2 million in the Financial Services segment. The Company expects total estimated restructuring expenses of approximately $150 million, including approximately $139 million and $11 million expected to be in incurred in the Motorcycles and Financial Services segments, respectively. Total expected restructuring expenses include approximately $30 million related to employee termination benefits, $90 million related to contract termination and other costs and $30 million related to non-current asset adjustments, including accelerated depreciation and other adjustments to the carrying value of non-current assets. The Company expects to incur the remaining estimated restructuring expenses of approximately $20 million in 2021. Changes in accrued restructuring expenses, which are included in Accrued liabilities on the Consolidated balance sheets, were as follows (in thousands). There were no restructuring activities during the three months ended March 29, 2020. Three months ended March 28, 2021 Employee Termination Benefits Contract Terminations Non-Current Asset Adjustments Total Balance, beginning of period $ 7,724 $ 16,196 $ — $ 23,920 Restructuring (benefit) expense (944) 1,106 (528) (366) Utilized – cash (3,661) (12,781) — (16,442) Utilized – non cash — — 528 528 Foreign currency changes (112) (54) — (166) Balance, end of period $ 3,007 $ 4,467 $ — $ 7,474

Income Taxes

Income Taxes	3 Months Ended
	Mar. 28, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s effective income tax rate for the three months ended March 28, 2021 was 23.8% compared to 26.3% for the three months ended March 29, 2020. The decrease in the first quarter 2021 effective income tax rate from 2020 was due to the increase in Income before provision for income taxes , resulting in discrete income tax adjustments having a reduced impact on the effective income tax rate for the quarter. The effective income tax rate for the three months ended March 28, 2021 was determined based on the Company's current projections for full-year 2021 financial results.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 28, 2021
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The computation of basic and diluted earnings per share was as follows (in thousands, except per share amounts): Three months ended March 28, March 29, Net income $ 259,144 $ 69,695 Basic weighted-average shares outstanding 153,478 153,004 Effect of dilutive securities – employee stock compensation plan 1,012 740 Diluted weighted-average shares outstanding 154,490 153,744 Net earnings per share: Basic $ 1.69 $ 0.46 Diluted $ 1.68 $ 0.45 Shares of common stock related to share-based compensation that were not included in the effect of dilutive securities because the effect would have been anti-dilutive include 0.6 million and 1.7 million shares for the three months ended March 28, 2021 and March 29, 2020, respectively.

Additional Balance Sheet and Ca

Additional Balance Sheet and Cash Flow Information	3 Months Ended
	Mar. 28, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Additional Balance Sheet and Cash Flow Information	Additional Balance Sheet and Cash Flow Information Investments in Marketable Securities – The Company’s investments in marketable securities consisted of the following (in thousands): March 28, December 31, March 29, Mutual funds $ 50,239 $ 52,061 $ 44,144 Mutual funds, included in Other long-term assets on the Consolidated balance sheets , are carried at fair value with gains and losses recorded in income. Mutual funds are held to support certain deferred compensation obligations. Inventories, net – Substantially all inventories located in the U.S. 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, net consisted of the following (in thousands): March 28, December 31, March 29, Raw materials and work in process $ 251,199 $ 211,979 $ 245,384 Motorcycle finished goods 185,590 281,132 272,648 Parts & Accessories and General Merchandise 88,291 84,469 149,318 Inventory at lower of FIFO cost or net realizable value 525,080 577,580 667,350 Excess of FIFO over LIFO cost (54,083) (54,083) (56,426) $ 470,997 $ 523,497 $ 610,924 Deposits – Beginning in 2020, HDFS began offering brokered certificates of deposit to customers indirectly through contractual arrangements with third-party banks and/or securities brokerage firms through its bank subsidiary. The Company had $152.7 million and $80.0 million , net of fees, of interest-bearing brokered certificates of deposit outstanding as of March 28, 2021 and December 31, 2020, respectively. There were no deposits as of March 29, 2020. The liabilities for deposits are included in Short-term deposits, net or Long-term deposits, net on the Consolidated balance sheets based upon the term of each brokered certificate of deposit issued. Each separate brokered certificate of deposit is issued under a master certificate, and as such, all outstanding brokered certificates of deposit are considered below the Federal Deposit Insurance Corporation insurance coverage limits. Future maturities of the Company's certificates of deposit as of March 28, 2021 were as follows (in thousands): 2021 $ 80,000 2022 14,000 2023 7,000 2024 22,000 2025 — Thereafter 30,000 Unamortized fees (347) $ 152,653 Operating Cash Flow – The reconciliation of Net income to Net cash provided (used) by operating activities was as follows (in thousands): Three months ended March 28, March 29, Cash flows from operating activities: Net income $ 259,144 $ 69,695 Adjustments to reconcile Net income to Net cash provided (used) by operating activities: Depreciation and amortization 40,221 47,427 Amortization of deferred loan origination costs 19,200 16,739 Amortization of financing origination fees 3,614 2,999 Provision for long-term employee benefits 7,090 7,852 Employee benefit plan contributions and payments (9,885) (1,608) Stock compensation expense 8,968 3,896 Net change in wholesale finance receivables related to sales (308,532) (208,183) Provision for credit losses (22,474) 79,419 Deferred income taxes 13,192 (3,803) Other, net 1,171 3,579 Changes in current assets and liabilities: Accounts receivable, net (79,012) (47,272) Finance receivables – accrued interest and other 8,947 4,007 Inventories, net 45,086 (23,943) Accounts payable and accrued liabilities 153,597 10,562 Derivative financial instruments (3,309) 2,812 Other 25,763 27,240 (96,363) (78,277) Net cash provided (used) by operating activities $ 162,781 $ (8,582)

Finance Receivables

Finance Receivables	3 Months Ended
	Mar. 28, 2021
Receivables [Abstract]
Finance Receivables	Finance Receivables The Company provides retail financial services to customers of its independent dealers in the U.S. 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 and are primarily related to independent dealer sales of motorcycles to retail customers. 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 its independent dealers in the U.S. and Canada. Wholesale finance receivables are related primarily to the Company's sale of motorcycles and related parts and accessories to dealers. Wholesale loans to dealers are generally secured by financed inventory or property. Finance receivables, net were as follows (in thousands): March 28, December 31, March 29, Retail finance receivables $ 6,310,982 $ 6,344,195 $ 6,269,247 Wholesale finance receivables 792,028 489,749 1,358,656 7,103,010 6,833,944 7,627,903 Allowance for credit losses (346,233) (390,936) (335,496) $ 6,756,777 $ 6,443,008 $ 7,292,407 On January 1, 2020, the Company adopted ASU 2016-13 Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (ASU 2016-13), which requires an entity to recognize expected lifetime losses on finance receivables upon origination. Under ASU 2016-13, the Company’s finance receivables are reported at amortized cost, net of the allowance for credit losses. Amortized cost includes the principal outstanding, accrued interest, and deferred loan fees and costs. Based on differences in the nature of the finance receivables and the underlying methodology for calculating the allowance for loan losses, the Company segments its finance receivables into the retail and wholesale portfolios. The Company further disaggregates each portfolio by credit quality indicators. As the credit risk varies between the retail and wholesale portfolios, the Company utilizes different credit quality indicators for each portfolio. The retail portfolio primarily consists of a large number of small balance, homogeneous finance receivables. The Company performs a collective evaluation of the adequacy of the retail allowance for credit losses. The Company utilizes a vintage-based loss forecast methodology that includes decompositions for probability of default, exposure at default, attrition rate, and recovery balance rate. Reasonable and supportable economic forecasts for a two-year period are incorporated into the methodology to reflect the estimated impact of changes in future economic conditions, such as unemployment rates, household obligations or other relevant factors, over the two-year reasonable and supportable period. For periods beyond the Company’s reasonable and supportable forecasts, the Company reverts to its average historical loss experience using a mean-reversion process over a three-year period. Adjustments to historical loss information are made for differences in current loan-specific risk characteristics such as differences in underwriting standards, portfolio mix, or term as well as other relevant factors. 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 to determine whether the loans share similar risk characteristics. The Company individually evaluates loans that do not share risk characteristics. Loans identified as those for which foreclosure is probable are classified as Non-Performing, and a specific allowance for credit losses is established when appropriate. The specific allowance is determined based on the amortized cost of the related finance receivable and the estimated fair value of the collateral, less selling costs and the cash that the Company expects to receive. Finance receivables in the wholesale portfolio not individually assessed are aggregated, based on similar risk characteristics, according to the Company’s internal risk rating system and measured collectively. 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, reasonable and supportable economic forecasts, and the value of the underlying collateral and expected recoveries. The Company considers various economic forecast scenarios as part of estimating the allowance for expected credit losses and applies a probability-weighting to those economic forecast scenarios. Changes in the Company’s outlook on economic conditions impacted the retail and wholesale estimates for expected credit losses at March 28, 2021. During the first quarter of 2021, the U.S. economy and the Company’s outlook on economic conditions improved from the fourth quarter of 2020; however, there is uncertainty surrounding the pace of economic recovery as demonstrated by unemployment levels above those experienced prior to the COVID-19 pandemic and continuing COVID-19 pandemic-related challenges across the U.S., among other factors. As such, at the end of the first quarter of 2021, the Company’s economic outlook on economic conditions included economic improvement; however, given the uncertainty surrounding the pace of economic recovery, the Company also included some adverse economic conditions in its economic scenario weighting. Additionally, the historical experience incorporated into the portfolio-specific models does not fully reflect the Company's comprehensive expectations regarding the future. As such, the Company incorporated qualitative factors to establish an appropriate allowance balance. These factors include motorcycle recovery value considerations, delinquency adjustments, specific problem loan trends, and others, as appropriate. Due to the use of projections and assumptions in estimating the losses, the amount of losses actually incurred by the Company in either portfolio could differ from the amounts estimated. Further, the Company’s allowance for credit losses incorporates known conditions at the balance sheet date and the Company's management’s expectations surrounding the economic forecasts. The Company’s expectations surrounding its economic forecasts may change in future periods as additional information becomes available. Changes in the allowance for credit losses on finance receivables by portfolio were as follows (in thousands): Three months ended March 28, 2021 Retail Wholesale Total Balance, beginning of period $ 371,738 $ 19,198 $ 390,936 Provision for credit losses (22,449) (25) (22,474) Charge-offs (34,589) — (34,589) Recoveries 12,360 — 12,360 Balance, end of period $ 327,060 $ 19,173 $ 346,233 Three months ended March 29, 2020 Retail Wholesale Total Balance, beginning of period $ 188,501 $ 10,080 $ 198,581 Cumulative effect of change in accounting (a) 95,558 5,046 100,604 Provision for credit losses 70,417 9,002 79,419 Charge-offs (55,215) — (55,215) Recoveries 12,107 — 12,107 Balance, end of period $ 311,368 $ 24,128 $ 335,496 (a) On January 1, 2020, the Company adopted ASU 2016-13 and increased the allowance for loan loss through Retained earnings , net of income taxes, to establish an allowance that represents expected lifetime credit losses on the finance receivable portfolios at date of adoption. The Company manages retail credit risk through its credit approval process 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. For the Company’s U.S. and Canadian retail finance receivables, the Company determines the credit quality indicator for each loan at origination and does not update the credit quality indicator subsequent to the loan origination date. As loan performance by credit quality indicator differs between the U.S. and Canadian retail loans, the Company’s credit quality indicators vary for the two portfolios. For U.S. retail finance receivables, those with a FICO score of 740 or above at origination are generally considered super prime, loans with a FICO score between 640 and 740 are generally categorized as prime, and loans with FICO score below 640 are generally considered sub-prime. For Canadian retail finance receivables, those with a FICO score of 700 or above at origination are generally considered super prime, loans with a FICO score between 620 and 700 are generally categorized as prime, and loans with FICO score below 620 are generally considered sub-prime. The amortized cost of the Company's U.S. and Canadian retail finance receivables by vintage and credit quality indicator was as follows (in thousands): March 28, 2021 2021 2020 2019 2018 2017 2016 & Prior Total U.S. Retail: Super prime $ 260,359 $ 725,383 $ 502,847 $ 301,839 $ 134,213 $ 74,086 $ 1,998,727 Prime 349,662 1,026,080 706,940 445,201 249,327 183,217 2,960,427 Sub-prime 130,389 395,495 263,203 156,368 96,998 100,827 1,143,280 740,410 2,146,958 1,472,990 903,408 480,538 358,130 6,102,434 Canadian Retail: Super prime 13,938 48,309 42,993 24,549 11,116 4,831 145,736 Prime 4,245 17,350 13,055 9,263 5,808 4,178 53,899 Sub-prime 601 2,949 2,227 1,407 951 778 8,913 18,784 68,608 58,275 35,219 17,875 9,787 208,548 $ 759,194 $ 2,215,566 $ 1,531,265 $ 938,627 $ 498,413 $ 367,917 $ 6,310,982 December 31, 2020 2020 2019 2018 2017 2016 2015 & Prior Total U.S. Retail: Super prime $ 822,631 $ 575,977 $ 355,529 $ 165,436 $ 71,360 $ 29,181 $ 2,020,114 Prime 1,133,637 794,058 508,713 293,358 156,688 77,046 2,963,500 Sub-prime 435,875 295,403 177,598 111,163 72,556 52,060 1,144,655 2,392,143 1,665,438 1,041,840 569,957 300,604 158,287 6,128,269 Canadian Retail: Super prime 53,465 48,692 28,581 13,818 5,018 2,011 151,585 Prime 18,568 14,257 10,269 6,727 3,198 2,025 55,044 Sub-prime 3,172 2,498 1,560 1,095 607 365 9,297 75,205 65,447 40,410 21,640 8,823 4,401 215,926 $ 2,467,348 $ 1,730,885 $ 1,082,250 $ 591,597 $ 309,427 $ 162,688 $ 6,344,195 March 29, 2020 2020 2019 2018 2017 2016 2015 & Prior Total U.S. Retail: Super prime $ 204,937 $ 825,176 $ 539,296 $ 275,621 $ 140,284 $ 62,924 $ 2,048,238 Prime 265,365 1,065,132 717,234 441,284 262,421 155,338 2,906,774 Sub-prime 108,068 394,291 239,571 155,391 108,531 98,124 1,103,976 578,370 2,284,599 1,496,101 872,296 511,236 316,386 6,058,988 Canadian Retail: Super prime 12,819 61,889 39,516 22,186 10,565 4,989 151,964 Prime 3,968 16,479 12,389 8,441 4,549 3,929 49,755 Sub-prime 768 2,827 1,919 1,348 921 757 8,540 17,555 81,195 53,824 31,975 16,035 9,675 210,259 $ 595,925 $ 2,365,794 $ 1,549,925 $ 904,271 $ 527,271 $ 326,061 $ 6,269,247 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 the Company’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. Additionally, the Company classifies dealers identified as those in which foreclosure is probable as Non-Performing. 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 amortized cost of wholesale financial receivables, by vintage and credit quality indicator, was as follows (in thousands): March 28, 2021 2021 2020 2019 2018 2017 2016 & Prior Total Non-Performing $ — $ — $ — $ — $ — $ — $ — Doubtful — — — — — — — Substandard — — — — — — — Special Mention 567 530 262 17 — — 1,376 Medium Risk — 728 417 — — — 1,145 Low Risk 600,144 122,970 44,614 12,568 6,392 2,819 789,507 $ 600,711 $ 124,228 $ 45,293 $ 12,585 $ 6,392 $ 2,819 $ 792,028 December 31, 2020 2020 2019 2018 2017 2016 2015 & Prior Total Non-Performing $ — $ — $ — $ — $ — $ — $ — Doubtful — — — — — — — Substandard — — — — — — — Special Mention 658 365 31 — — — 1,054 Medium Risk 1,925 242 — — — — 2,167 Low Risk 388,568 71,441 13,412 7,887 2,297 2,923 486,528 $ 391,151 $ 72,048 $ 13,443 $ 7,887 $ 2,297 $ 2,923 $ 489,749 March 29, 2020 2020 2019 2018 2017 2016 2015 & Prior Total Non-Performing $ — $ 2,376 $ 1,774 $ 107 $ 25 $ 43 $ 4,325 Doubtful 478 4,169 529 51 — 726 5,953 Substandard 5,375 6,374 391 131 — — 12,271 Special Mention 5,239 8,001 977 6 — 1,268 15,491 Medium Risk 8,307 10,996 1,091 23 — 826 21,243 Low Risk 658,137 574,401 47,101 10,997 6,323 2,414 1,299,373 $ 677,536 $ 606,317 $ 51,863 $ 11,315 $ 6,348 $ 5,277 $ 1,358,656 Retail finance receivables are contractually delinquent if the minimum payment is not received by the specified due date. Retail finance receivables at amortized cost, excluding accrued interest, 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. The Company reverses accrued interest related to charged-off accounts against interest income when the account is charged-off. The Company reversed $5.2 million and $6.4 million of accrued interest against interest income during the three months ended March 28, 2021 and March 29, 2020, respectively. All retail finance receivables accrue interest until either collected or charged-off. Due to the timely write-off of accrued interest, the Company made the election provided under Accounting Standards Codification (ASC) Topic 326, Financial Instruments - Credit Losses (ASC Topic 326) to exclude accrued interest from its allowance for credit losses. Accordingly, as of March 28, 2021, December 31, 2020 and March 29, 2020, all retail finance receivables were accounted for as interest-earning receivables. Wholesale finance receivables are delinquent if the minimum payment is not received by the contractual due date. Wholesale finance receivables are written down once the Company 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 Company determines that foreclosure is probable, 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. Once an account is charged-off, the Company will reverse the associated accrued interest against interest income. As the Company follows a non-accrual policy for interest, the allowance for credit losses excludes accrued interest for the wholesale portfolio. There were no charged-off accounts during the three months ended March 28, 2021 and March 29, 2020. As such, the Company did not reverse any accrued interest in those periods. There were no dealers on non-accrual status at March 28, 2021 and December 31, 2020. At March 29, 2020, $4.3 million of wholesale finance receivables outstanding on non-accrual status, and of this, $2.6 million were over 90 days or more past due. Additional information related to the wholesale finance receivables on non-accrual status at March 29, 2020 includes (in thousands): Amortized Cost, Beginning of Period Amortized Cost, End of Period Interest Income Recognized No related allowance recorded $ — $ — $ — Related allowance recorded 4,994 4,325 — $ 4,994 $ 4,325 $ — The aging analysis of finance receivables was as follows (in thousands): March 28, 2021 Current 31-60 Days 61-90 Days Greater than Total Total Retail finance receivables $ 6,196,345 $ 69,032 $ 23,420 $ 22,185 $ 114,637 $ 6,310,982 Wholesale finance receivables 791,826 128 22 52 202 792,028 $ 6,988,171 $ 69,160 $ 23,442 $ 22,237 $ 114,839 $ 7,103,010 December 31, 2020 Current 31-60 Days 61-90 Days Greater than Total Total Retail finance receivables $ 6,164,369 $ 106,818 $ 39,933 $ 33,075 $ 179,826 $ 6,344,195 Wholesale finance receivables 489,556 166 23 4 193 489,749 $ 6,653,925 $ 106,984 $ 39,956 $ 33,079 $ 180,019 $ 6,833,944 March 29, 2020 Current 31-60 Days 61-90 Days Greater than Total Total Retail finance receivables $ 6,091,319 $ 101,412 $ 37,816 $ 38,700 $ 177,928 $ 6,269,247 Wholesale finance receivables 1,352,084 2,051 1,437 3,084 6,572 1,358,656 $ 7,443,403 $ 103,463 $ 39,253 $ 41,784 $ 184,500 $ 7,627,903

Derivative Financial Instrument

Derivative Financial Instruments and Hedging Activities	3 Months Ended
	Mar. 28, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments and Hedging Activities	Derivative Financial Instruments and Hedging ActivitiesThe Company is exposed to risks from fluctuations in foreign currency exchange rates, interest rates and commodity prices. 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. The Company sells products in foreign currencies and utilizes foreign currency exchange contracts to mitigate the effects of foreign currency exchange rate fluctuations related to the Euro, Australian dollar, Japanese yen, Brazilian real, Canadian dollar, Mexican peso, Chinese yuan, Thai baht, Indian rupee, Singapore dollar, and Pound sterling. The Company's foreign currency exchange contracts generally have maturities of less than one year. The Company utilizes commodity contracts to mitigate the effects of commodity price fluctuations related to metals and fuel consumed in the Company’s motorcycle operations. The Company's commodity contracts generally have maturities of less than one year. The Company periodically utilizes treasury rate lock contracts to fix the interest rate on a portion of the principal related to an anticipated issuance of long-term debt, interest rate swaps to reduce the impact of fluctuations in interest rates on medium-term notes with floating interest rates, and cross-currency swaps to mitigate the effect of foreign currency exchange rate fluctuations on foreign currency-denominated debt. The Company also utilizes interest rate caps to facilitate certain asset-backed securitization transactions. All derivative financial instruments are recognized on the Consolidated balance sheets at fair value. In accordance with ASC Topic 815, Derivatives and Hedging (ASC Topic 815), the accounting for changes in the fair value of a derivative financial 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 derivative financial instruments that are designated as cash flow hedges are initially recorded in Other comprehensive income (loss) (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 ongoing basis, whether the derivative financial instruments that are designated as cash flow hedging transactions are highly effective in offsetting changes in cash flows of the hedged items. No component of a designated hedging derivative financial instrument’s gain or loss is excluded from the assessment of hedge effectiveness. Derivative financial instruments not designated as hedges are not speculative and are used to manage the Company’s exposure to foreign currency, commodity risks, and interest rate risks. Changes in the fair value of derivative financial instruments not designated as hedging instruments are recorded directly in income. The notional and fair values of the Company's derivative financial instruments under ASC Topic 815 were as follows (in thousands): Derivative Financial Instruments March 28, 2021 December 31, 2020 March 29, 2020 Notional Other Current Assets Accrued Liabilities Notional Other Current Assets Accrued Liabilities Notional Other Current Assets Accrued Liabilities Foreign currency contracts $ 402,814 $ 6,356 $ 6,071 $ 533,925 $ 11 $ 21,927 $ 414,753 $ 12,108 $ 575 Commodity contracts 668 3 20 671 — 52 482 — 74 Cross-currency swaps 1,367,460 73,449 — 1,367,460 138,622 — 660,780 — 41,283 Interest rate swaps — — — 450,000 — 3,086 900,000 — 11,398 $ 1,770,942 $ 79,808 $ 6,091 $ 2,352,056 $ 138,633 $ 25,065 $ 1,976,015 $ 12,108 $ 53,330 Derivative Financial Instruments March 28, 2021 December 31, 2020 March 29, 2020 Notional Other Current Assets Accrued Liabilities Notional Other Current Assets Accrued Liabilities Notional Other Current Assets Accrued Liabilities Foreign currency contracts $ 214,337 $ 670 $ 595 $ 245,494 $ 737 $ 435 $ 182,642 $ 2,573 $ 2,194 Commodity contracts 8,172 1,193 40 6,806 849 21 7,769 — 1,452 Interest rate caps 844,673 170 — 978,058 47 — 326,976 2 — $ 1,067,182 $ 2,033 $ 635 $ 1,230,358 $ 1,633 $ 456 $ 517,387 $ 2,575 $ 3,646 The amounts of gains and losses related to derivative financial instruments designated as cash flow hedges were as follows (in thousands): Gain/(Loss) Gain/(Loss) Three months ended Three months ended March 28, March 29, March 28, March 29, Foreign currency contracts $ 14,037 $ 16,899 $ (4,953) $ 3,400 Commodity contracts 3 (129) (32) (135) Cross-currency swaps (65,174) (49,609) (65,788) (12,906) Treasury rate lock contracts — — (124) (124) Interest rate swaps 397 (5,333) (2,689) (3,116) $ (50,737) $ (38,172) $ (73,586) $ (12,881) The location and amount of gains and losses recognized in income related to derivative financial instruments designated as cash flow hedges were as follows (in thousands): Motorcycles Selling, administrative & Interest expense Financial Services interest expense Three months ended March 28, 2021 Line item on the Consolidated statements of operations in which the effects of cash flow hedges are recorded $ 811,622 $ 231,844 $ 7,708 $ 55,707 Gain/(loss) reclassified from AOCL into income: Foreign currency contracts $ (4,953) $ — $ — $ — Commodity contracts $ (32) $ — $ — $ — Cross-currency swaps $ — $ (65,788) $ — $ — Treasury rate lock contracts $ — $ — $ (91) $ (33) Interest rate swap $ — $ — $ — $ (2,689) Three months ended March 29, 2020 Line item on the Consolidated statements of operations in which the effects of cash flow hedges are recorded $ 780,868 $ 277,971 $ 7,755 $ 52,473 Gain/(loss) reclassified from AOCL into income: Foreign currency contracts $ 3,400 $ — $ — $ — Commodity contracts $ (135) $ — $ — $ — Cross-currency swaps $ — $ (12,906) $ — $ — Treasury rate lock contracts $ — $ — $ (91) $ (33) Interest rate swaps $ — $ — $ — $ (3,116) The amount of net loss included in Accumulated other comprehensive loss (AOCL) at March 28, 2021, estimated to be reclassified into income over the next 12 months was $17.1 million. The amount of gains and losses recognized in income related to derivative financial instruments not designated as hedging instruments were as follows (in thousands). Gains and losses on foreign currency contracts and commodity contracts were recorded in Motorcycles cost of goods sold and the interest rate caps were recorded in Financial Services interest expense. Amount of Gain/(Loss) Three months ended March 28, March 29, Foreign currency contracts $ (3,629) $ 2,194 Commodity contracts 703 (1,551) Interest rate caps 123 — $ (2,803) $ 643 The Company is exposed to credit loss risk in the event of non-performance by counterparties to its derivative financial instruments. Although no assurances can be given, the Company does not expect any of the counterparties to its derivative financial instruments to fail to meet their 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 their position.

Leases

Leases	3 Months Ended
	Mar. 28, 2021
Leases [Abstract]
Leases	Leases The Company determines if an arrangement is or contains a lease at contract inception. Right-of-use (ROU) assets related to the Company's leases are recorded in Lease assets and lease liabilities are recorded in Accrued liabilities and Lease liabilities on the Consolidated balance sheets . ROU assets represent the Company’s right to use an underlying asset over the lease term, and lease liabilities represent the Company's obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at the lease commencement date based on the present value of future lease payments over the lease term. The ROU asset also includes prepaid lease payments and initial direct costs and is reduced for lease incentives paid by the lessor. The discount rate used to determine the present value is generally the Company's incremental borrowing rate because the implicit rate in the lease is not readily determinable. The lease term used to calculate the ROU asset and lease liabilities includes periods covered by options to extend or terminate when the Company is reasonably certain the lease term will include these optional periods. In accordance with ASC Topic 842, Leases (ASC Topic 842), the Company elected the short-term lease practical expedient that allows entities to recognize lease payments on a straight-line basis over the lease term for leases with a term of 12 months or less. The Company has also elected the practical expedient under ASC Topic 842 allowing entities to not separate non-lease components from lease components, but instead account for such components as a single lease component for all leases except leases involving assets operated by a third-party. The Company has operating lease arrangements for sales and administrative offices, manufacturing and distribution facilities, product testing facilities, equipment and vehicles. The Company’s leases have remaining lease terms ranging from 1 to 11 years, some of which include options to extend the lease term for periods generally not greater than 5 years and some of which include options to terminate the leases within 1 year. Certain leases also include options to purchase the leased asset. The Company's leases do not contain any material residual value guarantees or material restrictive covenants. Operating lease expense for the three months ended March 28, 2021 and March 29, 2020 was $8.2 million and $7.3 million, respectively. This includes variable lease costs related to leases involving assets operated by a third party of approximately $3.1 million and $1.9 million for the three months ended March 28, 2021 and March 29, 2020, respectively. Other variable and short-term lease costs were not material. Balance sheet information related to the Company's leases was as follows (in thousands): March 28, December 31, March 29, Lease assets $ 44,765 $ 45,203 $ 56,496 Accrued liabilities $ 17,021 $ 17,081 $ 17,939 Lease liabilities 30,061 30,115 40,053 $ 47,082 $ 47,196 $ 57,992 Future maturities of the Company's operating lease liabilities as of March 28, 2021 were as follows (in thousands): Operating Leases 2021 $ 13,805 2022 14,466 2023 6,511 2024 4,518 2025 6,816 Thereafter 3,677 Future lease payments 49,793 Present value discount (2,711) Lease liabilities $ 47,082 Other lease information surrounding the Company's operating leases was as follows (dollars in thousands): Three months ended March 28, March 29, Cash outflows for amounts included in the measurement of lease liabilities $ 4,947 $ 5,378 ROU assets obtained in exchange for lease obligations, net of modifications $ 5,305 $ 557 March 28, December 31, March 29, Weighted-average remaining lease term (in years) 3.81 3.78 4.20 Weighted-average discount rate 2.9 % 3.1 % 3.3 %

Debt

Debt	3 Months Ended
	Mar. 28, 2021
Debt Disclosure [Abstract]
Debt	Debt Debt with a contractual term less than 12 months is generally classified as short-term and consisted of the following (in thousands): March 28, December 31, March 29, Unsecured commercial paper $ 749,801 $ 1,014,274 $ 1,335,664 Global credit facility borrowings 15,462 — — $ 765,263 $ 1,014,274 $ 1,335,664 Debt with a contractual term greater than 12 months is generally classified as long-term and consisted of the following (in thousands): March 28, December 31, March 29, Secured debt: Asset-backed Canadian commercial paper conduit facility $ 102,543 $ 116,678 $ 155,243 Asset-backed U.S. commercial paper conduit facilities 350,648 402,205 600,000 Asset-backed securitization debt 2,109,046 1,800,393 1,161,047 Unamortized discounts and debt issuance costs (9,788) (8,437) (4,202) 2,552,449 2,310,839 1,912,088 Unsecured notes (at par value): Medium-term notes: Due in 2020, issued May 2018 LIBOR + 0.50% — — 450,000 Due in 2020, issued March 2017 2.40 % — — 350,000 Due in 2021, issued January 2016 2.85 % — 600,000 600,000 Due in 2021, issued November 2018 LIBOR + 0.94% — 450,000 450,000 Due in 2021, issued May 2018 3.55 % 350,000 350,000 350,000 Due in 2022, issued February 2019 4.05 % 550,000 550,000 550,000 Due in 2022, issued June 2017 2.55 % 400,000 400,000 400,000 Due in 2023, issued February 2018 3.35 % 350,000 350,000 350,000 Due in 2023, issued May 2020 (a) 4.94 % 762,996 797,206 — Due in 2024, issued November 2019 (b) 3.14 % 704,304 735,882 660,030 Due in 2025, issued June 2020 3.35 % 700,000 700,000 — Unamortized discounts and debt issuance costs (13,564) (15,374) (11,046) 3,803,736 4,917,714 4,148,984 Senior notes: Due in 2025, issued July 2015 3.50 % 450,000 450,000 450,000 Due in 2045, issued July 2015 4.625 % 300,000 300,000 300,000 Unamortized discounts and debt issuance costs (5,851) (6,023) (6,534) 744,149 743,977 743,466 4,547,885 5,661,691 4,892,450 Long-term debt 7,100,334 7,972,530 6,804,538 Current portion of long-term debt, net (1,622,243) (2,039,597) (2,326,460) Long-term debt, net $ 5,478,091 $ 5,932,933 $ 4,478,078 (a) Euro denominated, €650.0 million par value remeasured to U.S. dollar at March 28, 2021 and December 31, 2020, respectively (b) Euro denominated, €600.0 million par value remeasured to U.S. dollar at March 28, 2021, December 31, 2020, and March 29, 2020, respectively The Company's future principal payments on debt obligations as of March 28, 2021 were as follows (in thousands): 2021 $ 1,670,913 2022 1,685,613 2023 1,829,349 2024 1,120,828 2025 1,287,560 Thereafter 300,537 $ 7,894,800

Asset-Backed Financing

Asset-Backed Financing	3 Months Ended
	Mar. 28, 2021
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 (ASC Topic 860). 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 Consolidated balance sheets 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 on the Consolidated statements of operations . 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 assets and liabilities related to the on-balance sheet asset-backed financings included in the Consolidated balance sheets were as follows (in thousands): March 28, 2021 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 $ 2,448,681 $ (126,053) $ 166,694 $ 2,852 $ 2,492,174 $ 2,099,258 Asset-backed U.S. commercial paper conduit facility 378,035 (19,432) 30,252 1,175 390,030 350,648 Unconsolidated VIEs: Asset-backed Canadian commercial paper conduit facility 115,742 (5,388) 9,743 206 120,303 102,543 $ 2,942,458 $ (150,873) $ 206,689 $ 4,233 $ 3,002,507 $ 2,552,449 December 31, 2020 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 $ 2,129,372 $ (124,627) $ 116,268 $ 2,622 $ 2,123,635 $ 1,791,956 Asset-backed U.S. commercial paper conduit facility 441,402 (25,793) 26,624 1,131 443,364 402,205 Unconsolidated VIEs: Asset-backed Canadian commercial paper conduit facility 133,976 (6,508) 9,073 126 136,667 116,678 $ 2,704,750 $ (156,928) $ 151,965 $ 3,879 $ 2,703,666 $ 2,310,839 March 29, 2020 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 $ 1,250,382 $ (62,159) $ 61,945 $ 852 $ 1,251,020 $ 1,156,845 Asset-backed U.S. commercial paper conduit facilities 662,385 (32,872) 37,290 1,410 668,213 600,000 Unconsolidated VIEs: Asset-backed Canadian commercial paper conduit facility 182,353 (6,671) 10,552 148 186,382 155,243 $ 2,095,120 $ (101,702) $ 109,787 $ 2,410 $ 2,105,615 $ 1,912,088 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 transactions 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 currently have various contractual maturities ranging from 2022 to 2028. 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. During the first quarter of 2021, the Company transferred $663.1 million of U.S. retail motorcycle finance receivables to an SPE which, in turn, issued $600.0 million, or $597.4 million net of discount and issuance costs, of secured notes through an on-balance sheet asset-backed securitization transaction. During the first quarter of 2020, the Company transferred $580.2 million of U.S. retail motorcycle finance receivables to an SPE which, in turn, issued $525.0 million, or $522.7 million net of discount and issuance costs, of secured notes through an on-balance sheet asset-backed securitization transaction. On-Balance Sheet Asset-Backed U.S. Commercial Paper Conduit Facilities VIE – Until November 25, 2020, the Company had two separate agreements with third-party bank-sponsored asset-backed U.S. commercial paper conduits, a $300.0 million revolving facility agreement and a $600.0 million revolving facility agreement (together, the Former U.S. Conduit Facilities). On November 25, 2020, the Company amended each revolving facility agreement by consolidating the two agreements into one $900.0 million revolving facility agreement with third-party bank-sponsored asset-backed U.S. commercial paper conduits. Under the revolving facility agreement, the Company may transfer U.S. retail motorcycle finance receivables to an SPE, which in turn may issue debt to those third-party bank-sponsored asset-backed U.S. commercial paper conduits. In addition to the $900.0 million aggregate commitment, the agreement allows for additional borrowings, at the lender’s discretion, of up to $300.0 million. Availability under the $900.0 million revolving facility (the U.S. Conduit Facility) 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 Facility, 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 if funded by a conduit lender through the issuance of commercial paper. If not funded by a conduit lender through the issuance of commercial paper, the terms of the interest are based on LIBOR. In each of these cases, a program fee is assessed based on the outstanding principal. The U.S. Conduit Facility also provides for an unused commitment fee based on the unused portion of the total aggregate commitment. When calculating the unused fee, the aggregate commitment does not include any unused portion of the $300.0 million additional borrowings allowed. 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 U.S. Conduit Facility, any outstanding principal will continue to be reduced monthly through available collections. The expected remaining term of the related receivables held by the SPE is approximately 4 years. Unless earlier terminated or extended by mutual agreement of the Company and the lenders, as of March 28, 2021, the U.S. Conduit Facility has an expiration date of November 19, 2021. The Company is the primary beneficiary of its U.S. Conduit Facility 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. There were no finance receivable transfers under the U.S. Conduit Facility during the first quarter of 2021. During the first quarter of 2020, the Company transferred $195.3 million of U.S. retail motorcycle finance receivables to an SPE which, in turn, issued $163.6 million of debt under the Former U.S. Conduit Facilities. On-Balance Sheet Asset-Backed Canadian Commercial Paper Conduit Facility – In June 2020, the Company renewed 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 associated 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 expected remaining term of the related receivables is approximately 4 years. Unless earlier terminated or extended by mutual agreement between the Company and the lenders, as of March 28, 2021, the Canadian Conduit has an expiration date of June 25, 2021. The Company is not the primary beneficiary of the Canadian bank-sponsored, multi-seller conduit VIE; therefore, the Company does not 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, does not 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 $17.8 million at March 28, 2021. The maximum exposure is not an indication of the Company's expected loss exposure. There were no finance receivable transfers under the Canadian Conduit Facility during the first quarter of 2021. During the first quarter of 2020, the Company transferred $77.9 million of Canadian retail motorcycle finance receivables to the Canadian Conduit for proceeds of $61.6 million. Off-Balance Sheet Asset-Backed Securitization VIE – There were no off-balance sheet asset-backed securitization transactions during the first quarter of 2021 or 2020. 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. The gain on sale was included in Financial Services revenue on the Consolidated statements of operations . In April 2020, the Company repurchased the finance receivables associated with this off-balance sheet asset-backed securitization VIE for $27.4 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 was a separate legal entity, and the U.S. retail motorcycle finance receivables included in the asset-backed securitization were only available for payment of the secured debt and other obligations arising from the asset-backed securitization transaction and were 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 was not the primary beneficiary of the off-balance sheet asset-backed securitization VIE because it only retained servicing rights and did 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 in 2016, the retail motorcycle finance receivables were removed from the Company’s Consolidated balance sheets 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. 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 on the Consolidated statements of operations . 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 repurchased the finance receivables associated with the off-balance sheet securitization VIE in April 2020. As such, the Company did not recognize any servicing fee income in 2021. The Company recognized servicing fee income of $0.1 million during the first quarter of 2020. The unpaid principal balance of the off-balance sheet retail motorcycle finance receivables serviced by the Company were $27.4 million as of March 29, 2020 of which $0.7 million were 30 days or more delinquent. Credit losses, net of recoveries for the off-balance sheet retail motorcycle finance receivables as of March 29, 2020 were $0.01 million. There was no unpaid principal balance or credit losses, net of recoveries associated with the off-balance sheet retail motorcycle finance receivables as of December 31, 2020 and March 28, 2021.

Fair Value

Fair Value	3 Months Ended
	Mar. 28, 2021
Fair Value Disclosures [Abstract]
Fair Value	Fair Value The Company assesses the inputs used to measure fair value using a three-tier hierarchy. 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, commodity prices, and yield curves. The Company uses the market approach to derive the fair value for its Level 2 fair value measurements. Foreign currency contracts, commodity contracts, cross-currency swaps and treasury rate lock contracts are valued using quoted forward rates and prices; interest rate swaps and caps are valued using quoted interest rates and yield curves; investments in marketable securities and cash equivalents are valued using quoted prices. Level 3 inputs are not observable in the market and include the Company's judgments about the assumptions market participants would use in pricing the asset or liability. Recurring Fair Value Measurements – The Company’s assets and liabilities measured at fair value on a recurring basis were as follows (in thousands): March 28, 2021 Balance Level 1 Level 2 Assets: Cash equivalents $ 2,069,400 $ 1,919,400 $ 150,000 Marketable securities 50,239 50,239 — Derivative financial instruments 81,841 — 81,841 $ 2,201,480 $ 1,969,639 $ 231,841 Liabilities: Derivative financial instruments $ 6,726 $ — $ 6,726 December 31, 2020 Balance Level 1 Level 2 Assets: Cash equivalents $ 3,019,884 $ 2,819,884 $ 200,000 Marketable securities 52,061 52,061 — Derivative financial instruments 140,266 — 140,266 $ 3,212,211 $ 2,871,945 $ 340,266 Liabilities: Derivative financial instruments $ 25,521 $ — $ 25,521 March 29, 2020 Balance Level 1 Level 2 Assets: Cash equivalents $ 1,207,799 $ 1,144,800 $ 62,999 Marketable securities 44,144 44,144 — Derivative financial instruments 14,683 — 14,683 $ 1,266,626 $ 1,188,944 $ 77,682 Liabilities: Derivative financial instruments $ 56,976 $ — $ 56,976 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 $18.6 million, $17.7 million and $22.2 million at March 28, 2021, December 31, 2020 and March 29, 2020, respectively, for which the fair value adjustment was $2.4 million, $4.2 million and $10.9 million, respectively. Fair value is estimated using Level 2 inputs based on the recent market values of repossessed inventory. Fair Value of Financial Instruments Measured at Cost – The carrying value of the Company's Cash and cash equivalents and Restricted cash approximates their fair values. The fair value and carrying value of the Company’s remaining financial instruments that are measured at cost or amortized cost were as follows (in thousands): March 28, 2021 December 31, 2020 March 29, 2020 Fair Value Carrying Value Fair Value Carrying Value Fair Value Carrying Value Assets: Finance receivables, net $ 6,930,531 $ 6,756,777 $ 6,586,348 $ 6,443,008 $ 7,391,948 $ 7,292,407 Liabilities: Deposits, net $ 152,715 $ 152,653 $ 79,965 $ 79,965 $ — $ — Debt: Unsecured commercial paper $ 749,801 $ 749,801 $ 1,014,274 $ 1,014,274 $ 1,335,664 $ 1,335,664 Global credit facility borrowings $ 15,462 $ 15,462 $ — $ — $ — $ — Asset-backed U.S. commercial paper conduit facilities $ 350,648 $ 350,648 $ 402,205 $ 402,205 $ 600,000 $ 600,000 Asset-backed Canadian commercial paper conduit facility $ 102,543 $ 102,543 $ 116,678 $ 116,678 $ 155,243 $ 155,243 Asset-backed securitization debt $ 2,120,855 $ 2,099,258 $ 1,817,892 $ 1,791,956 $ 1,139,076 $ 1,156,845 Medium-term notes $ 3,955,743 $ 3,803,736 $ 5,118,928 $ 4,917,714 $ 4,013,409 $ 4,148,984 Senior notes $ 789,967 $ 744,149 $ 828,141 $ 743,977 $ 685,805 $ 743,466 Finance Receivables, net – The carrying value of retail and wholesale finance receivables 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 are generally either short-term or have interest rates that adjust with changes in market interest rates. Deposits, net – The carrying value of deposits is amortized cost. The fair value of deposits is estimated based upon rates currently available for deposits with similar terms and maturities. Fair value is calculated using Level 3 inputs. Debt – The carrying value of debt is generally amortized cost, net of discounts and debt issuance costs. The fair value of unsecured commercial paper and credit facility borrowings are calculated using Level 2 inputs and approximates carrying value due to its short maturity. The fair value of debt provided under the U.S. Conduit Facilities and Canadian Conduit Facility is calculated using Level 2 inputs and approximates carrying value since the interest rates charged under the facilities are tied directly to market rates and fluctuate as market rates change. The fair values of the medium-term notes and senior notes are estimated based upon rates currently available for debt with similar terms and remaining maturities (Level 2 inputs). The fair value of the fixed-rate debt related to on-balance sheet asset-backed securitization transactions is estimated based on pricing currently available for transactions with similar terms and maturities (Level 2 inputs). The fair value of the floating-rate debt related to on-balance sheet asset-backed securitization transactions is calculated using Level 2 inputs and approximates carrying value since the interest rates charged are tied directly to market rates and fluctuate as market rates change.

Product Warranty and Recall Cam

Product Warranty and Recall Campaigns	3 Months Ended
	Mar. 28, 2021
Product Warranties Disclosures [Abstract]
Product Warranty and Recall Campaigns	Product Warranty and Recall CampaignsThe Company currently provides a standard two-year limited warranty on all new motorcycles sold worldwide, except in Japan, where the Company currently provides a standard three-year limited warranty. The Company also provides a five-year unlimited warranty on the battery for electric motorcycles. In addition, the Company provides a one-year warranty for parts and accessories. The warranty coverage for the retail customer generally begins when the product is sold to a retail customer. The Company accrues for future warranty claims at the time of sale using an estimated cost based primarily on historical Company claim information. Additionally, the Company has from time to time initiated certain voluntary recall campaigns. The Company records estimated recall costs when the liability is both probable and estimable. This generally occurs when the Company's management approves and commits to a recall. The warranty and recall liability is included in Accrued liabilities and Other long-term liabilities on the Consolidated balance sheets . Changes in the Company’s warranty and recall liabilities were as follows (in thousands): Three months ended March 28, March 29, Balance, beginning of period $ 69,208 $ 89,793 Warranties issued during the period 11,672 11,025 Settlements made during the period (8,585) (14,157) Recalls and changes to pre-existing warranty liabilities 132 (353) Balance, end of period $ 72,427 $ 86,308 The liability for recall campaigns, included in the balance above, was $25.3 million, $24.7 million and $33.6 million at March 28, 2021, December 31, 2020 and March 29, 2020, respectively.

Employee Benefit Plans

Employee Benefit Plans	3 Months Ended
	Mar. 28, 2021
Retirement Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans The Company has a qualified pension plan and postretirement healthcare benefit plans. The plans cover certain eligible employees and retirees of the Motorcycles segment. The Company also has unfunded supplemental employee retirement plan agreements (SERPA) with certain employees. Service cost is allocated among Selling, administrative and engineering expense, Motorcycles cost of goods sold and Inventories, net . Amounts capitalized in inventory are not significant. Non-service cost components of net periodic benefit cost are presented in Other income, net . Components of net periodic benefit cost for the Company's defined benefit plans were as follows (in thousands): Three months ended March 28, March 29, Pension and SERPA Benefits: Service cost $ 6,348 $ 6,806 Interest cost 15,470 19,112 Expected return on plan assets (32,720) (33,764) Amortization of unrecognized: Prior service credit (312) (272) Net loss 18,386 16,372 Settlement loss 816 — Net periodic benefit cost $ 7,988 $ 8,254 Postretirement Healthcare Benefits: Service cost $ 1,288 $ 1,201 Interest cost 1,626 2,336 Expected return on plan assets (3,495) (3,467) Amortization of unrecognized: Prior service credit (581) (595) Net loss 264 123 Net periodic benefit cost $ (898) $ (402) There are no required or planned voluntary qualified pension plan contributions for 2021. The Company expects it will continue to make ongoing benefit payments under the SERPA and postretirement healthcare plans.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 28, 2021
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 costs to accrue 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. Any amounts accrued for these matters are monitored on an ongoing basis and are updated based on new developments or new information as it becomes available for each matter. York Environmental Matter – The Company is involved with government agencies and the U.S. Navy 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. The Company has an agreement with the U.S. Navy which calls for the U.S. 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). A site wide remedial investigation/feasibility study and a proposed final remedy for the York facility have been completed and approved by the Pennsylvania Department of Environmental Protection and the United States Environmental Protection Agency (EPA). The associated cleanup plan documents were approved in February 2020 and the remaining cleanup activities are expected to begin later in 2021. The Company has an accrual for its share of the estimated future Response Costs recorded in Other long-term liabilities on the Consolidated balance sheets . 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.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Mar. 28, 2021
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss Changes in Accumulated other comprehensive loss were as follows (in thousands): Three months ended March 28, 2021 Foreign currency translation adjustments Derivative financial instruments Pension and postretirement benefit plans Total Balance, beginning of period $ (7,589) $ (46,116) $ (429,712) $ (483,417) Other comprehensive loss, before reclassifications (17,074) (50,737) — (67,811) Income tax (expense) benefit (264) 11,092 — 10,828 (17,338) (39,645) — (56,983) Reclassifications: Net loss on derivative financial instruments — 73,586 — 73,586 Prior service credits (a) — — (893) (893) Actuarial losses (a) — — 18,650 18,650 Reclassifications before tax — 73,586 17,757 91,343 Income tax expense — (16,411) (4,169) (20,580) — 57,175 13,588 70,763 Other comprehensive (loss) income (17,338) 17,530 13,588 13,780 Balance, end of period $ (24,927) $ (28,586) $ (416,124) $ (469,637) Three months ended March 29, 2020 Foreign currency translation adjustments Derivative financial instruments Pension and postretirement benefit plans Total Balance, beginning of period $ (40,813) $ (14,586) $ (481,550) $ (536,949) Other comprehensive loss, before reclassifications (35,821) (38,172) — (73,993) Income tax benefit 1,366 8,267 — 9,633 (34,455) (29,905) — (64,360) Reclassifications: Net loss on derivative financial instruments — 12,881 — 12,881 Prior service credits (a) — — (867) (867) Actuarial losses (a) — — 16,495 16,495 Reclassifications before tax — 12,881 15,628 28,509 Income tax expense — (2,821) (3,669) (6,490) — 10,060 11,959 22,019 Other comprehensive (loss) income (34,455) (19,845) 11,959 (42,341) Balance, end of period $ (75,268) $ (34,431) $ (469,591) $ (579,290) (a) Amounts reclassified are included in the computation of net periodic benefit cost, discussed further in Note 15

Business Segments

Business Segments	3 Months Ended
	Mar. 28, 2021
Segment Reporting [Abstract]
Business Segments	Business Segments Harley-Davidson, Inc. is the parent company for the groups of companies referred to as Harley-Davidson Motor Company (HDMC) and Harley-Davidson Financial Services (HDFS). The Company operates in two business segments: Motorcycles and Related Products (Motorcycles) and Financial Services. 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. The Motorcycles segment consists of HDMC which designs, manufactures and sells Harley-Davidson motorcycles as well as motorcycle parts, accessories, general merchandise and services. The Company's products are sold to retail customers primarily through a network of independent dealers. The Financial Services segment consists of HDFS which is engaged in the business of financing and servicing wholesale inventory receivables and retail consumer loans, primarily for the purchase of Harley-Davidson motorcycles. HDFS also works with certain unaffiliated insurance companies to provide motorcycle insurance and protection products to motorcycle owners. Select segment information is set forth below (in thousands): Three months ended March 28, March 29, Motorcycles and Related Products: Motorcycles revenue $ 1,232,107 $ 1,099,788 Gross profit 420,485 318,920 Selling, administrative and engineering expense 193,546 234,353 Restructuring benefit (593) — Operating income 227,532 84,567 Financial Services: Financial Services revenue 190,400 198,456 Financial Services expense 71,531 175,510 Restructuring expense 227 — Operating income 118,642 22,946 Operating income $ 346,174 $ 107,513

Supplemental Consolidating Data

Supplemental Consolidating Data	3 Months Ended
	Mar. 28, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Supplemental Consolidating Data	Supplemental Consolidating Data The supplemental consolidating data is presented for informational purposes and is different than segment information due to the allocation of consolidating adjustments to the reportable segments. Supplemental consolidating data is as follows (in thousands): Three months ended March 28, 2021 HDMC Entities HDFS Entities Consolidating Adjustments Consolidated Revenue: Motorcycles and Related Products $ 1,238,468 $ — $ (6,361) $ 1,232,107 Financial Services — 188,750 1,650 190,400 1,238,468 188,750 (4,711) 1,422,507 Costs and expenses: Motorcycles and Related Products cost of goods sold 811,622 — — 811,622 Financial Services interest expense — 55,707 — 55,707 Financial Services provision for credit losses — (22,474) — (22,474) Selling, administrative and engineering expense 196,359 40,275 (4,790) 231,844 Restructuring (benefit) expense (593) 227 — (366) 1,007,388 73,735 (4,790) 1,076,333 Operating income 231,080 115,015 79 346,174 Other income, net 277 — — 277 Investment income 1,402 — — 1,402 Interest expense 7,708 — — 7,708 Income before income taxes 225,051 115,015 79 340,145 Provision for income taxes 55,996 25,005 — 81,001 Net income $ 169,055 $ 90,010 $ 79 $ 259,144 March 28, 2021 HDMC Entities HDFS Entities Consolidating Adjustments Consolidated ASSETS Current assets: Cash and cash equivalents $ 607,941 $ 1,712,704 $ — $ 2,320,645 Accounts receivable, net 603,273 — (386,704) 216,569 Finance receivables, net — 1,798,194 — 1,798,194 Inventories, net 470,997 — — 470,997 Restricted cash — 185,374 — 185,374 Other current assets 81,559 113,797 — 195,356 1,763,770 3,810,069 (386,704) 5,187,135 Finance receivables, net — 4,958,583 — 4,958,583 Property, plant and equipment, net 687,086 31,882 — 718,968 Pension and postretirement assets 105,910 — — 105,910 Goodwill 65,157 — — 65,157 Deferred income taxes 56,911 79,206 (730) 135,387 Lease assets 36,559 8,206 — 44,765 Other long-term assets 184,876 33,929 (95,722) 123,083 $ 2,900,269 $ 8,921,875 $ (483,156) $ 11,338,988 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable $ 355,722 $ 433,746 $ (386,704) $ 402,764 Accrued liabilities 443,529 125,768 1,143 570,440 Short-term deposits, net — 93,887 — 93,887 Short-term debt — 765,263 — 765,263 Current portion of long-term debt, net — 1,622,243 — 1,622,243 799,251 3,040,907 (385,561) 3,454,597 Long-term deposits, net — 58,766 — 58,766 Long-term debt, net 744,149 4,733,942 — 5,478,091 Lease liabilities 22,461 7,600 — 30,061 Pension and postretirement liabilities 103,854 — — 103,854 Deferred income taxes 7,166 1,516 — 8,682 Other long-term liabilities 179,525 46,920 2,106 228,551 Commitments and contingencies (Note 16) Shareholders’ equity 1,043,863 1,032,224 (99,701) 1,976,386 $ 2,900,269 $ 8,921,875 $ (483,156) $ 11,338,988 Three months ended March 28, 2021 HDMC Entities HDFS Entities Consolidating Adjustments Consolidated Cash flows from operating activities: Net income $ 169,055 $ 90,010 $ 79 $ 259,144 Adjustments to reconcile Net income to Net cash (used) provided by operating activities: Depreciation and amortization 37,778 2,443 — 40,221 Amortization of deferred loan origination costs — 19,200 — 19,200 Amortization of financing origination fees 172 3,442 — 3,614 Provision for long-term employee benefits 7,090 — — 7,090 Employee benefit plan contributions and payments (9,885) — — (9,885) Stock compensation expense 8,174 794 — 8,968 Net change in wholesale finance receivables related to sales — — (308,532) (308,532) Provision for credit losses — (22,474) — (22,474) Deferred income taxes 3,811 9,812 (431) 13,192 Other, net 476 775 (80) 1,171 Changes in current assets and liabilities: Accounts receivable, net (388,688) — 309,676 (79,012) Finance receivables – accrued interest and other — 8,947 — 8,947 Inventories, net 45,086 — — 45,086 Accounts payable and accrued liabilities 104,486 354,507 (305,396) 153,597 Derivative financial instruments (3,219) (90) — (3,309) Other 18,222 11,271 (3,730) 25,763 (176,497) 388,627 (308,493) (96,363) Net cash (used) provided by operating activities (7,442) 478,637 (308,414) 162,781 Cash flows from investing activities: Capital expenditures (18,427) (386) — (18,813) Origination of finance receivables — (1,923,911) 1,014,773 (909,138) Collections on finance receivables — 1,606,844 (706,359) 900,485 Other investing activities 733 — — 733 Net cash used by investing activities (17,694) (317,453) 308,414 (26,733) Three months ended March 28, 2021 HDMC Entities HDFS Entities Consolidating Adjustments Consolidated Cash flows from financing activities: Repayments of medium-term notes — (1,050,000) — (1,050,000) Proceeds from securitization debt — 597,411 — 597,411 Repayments of securitization debt — (291,346) — (291,346) Repayments of asset-backed commercial paper — (66,894) — (66,894) Net decrease in unsecured commercial paper — (262,517) — (262,517) Net increase in credit facilities — 15,629 — 15,629 Net increase in deposits — 72,664 — 72,664 Dividends paid (23,105) — — (23,105) Repurchase of common stock (5,646) — — (5,646) Issuance of common stock under share-based plans 1,085 — — 1,085 Net cash used by financing activities (27,666) (985,053) — (1,012,719) Effect of exchange rate changes on cash, cash equivalents and restricted cash (5,418) 255 — (5,163) Net decrease in cash, cash equivalents and restricted cash $ (58,220) $ (823,614) $ — $ (881,834) Cash, cash equivalents and restricted cash: Cash, cash equivalents and restricted cash, beginning of period $ 666,161 $ 2,743,007 $ — $ 3,409,168 Net decrease in cash, cash equivalents and restricted cash (58,220) (823,614) — (881,834) Cash, cash equivalents and restricted cash, end of period $ 607,941 $ 1,919,393 $ — $ 2,527,334

Subsequent Event

Subsequent Event	3 Months Ended
	Mar. 28, 2021
Subsequent Events [Abstract]
Subsequent Event	Subsequent EventIn April 2021, the Company received notification from the Economic Ministry of Belgium that, following a request from the European Union (EU), the Company would be subject to the revocation of Binding Origin Information (BOI) rulings, effective April 19, 2021. Beginning in 2019, the Company has operated under BOIs which allowed it to supply its EU markets with certain motorcycles produced at its Thailand manufacturing facility at tariff rates of 6%. Following the revocation, all non-electric motorcycles that Harley-Davidson imports into the EU, regardless of origin, will be subject to a total tariff rate of 31% from April 19, 2021 through May 31, 2021. This rate is expected to increase to 56% effective June 1, 2021. This ruling will effectively prohibit the Company from functioning competitively in the EU. The Company estimates the impact of the additional EU tariffs in 2021, if unmitigated, to be approximately $135 million and expects the impact to be approximately $200 million to $225 million on annual basis in future years. The Company is appealing the revocation of the BOIs. It has also sought temporary extended reliance on the 6% tariff rate for motorcycles produced in Thailand, ordered prior to April 19, 2021. There is no assurance that the appeal will be successful or that the Company will receive the extended reliance.

Basis of Presentation and Use_2

Basis of Presentation and Use of Estimates (Policies)	3 Months Ended
	Mar. 28, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Use of Estimates	The preparation of consolidated financial statements in conformity with U.S. GAAP requires the Company's management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and the accompanying notes. Actual results could differ from those estimates.
New Accounting Pronouncements	Accounting Standards Recently AdoptedIn December 2019, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2019-12, Simplifying the Accounting for Income Taxes (ASU No. 2019-12). The new guidance eliminates certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The new guidance also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. The Company adopted ASU 2019-12 on January 1, 2021 on a prospective basis. The adoption of ASU 2019-12 did not have a material impact on the Company's consolidated financial statements.

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 28, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Disaggregated revenue by major source was as follows (in thousands): Three months ended March 28, March 29, Motorcycles and Related Products Revenue: Motorcycles $ 1,016,334 $ 899,365 Parts & Accessories 149,859 134,685 General Merchandise 50,323 49,160 Licensing 5,512 8,029 Other 10,079 8,549 1,232,107 1,099,788 Financial Services Revenue: Interest income 159,814 170,001 Other 30,586 28,455 190,400 198,456 $ 1,422,507 $ 1,298,244
Deferred Revenue	Deferred revenue, included in Accrued liabilities and Other long-term liabilities on the Consolidated balance sheets , was as follows (in thousands): March 28, March 29, Balance, beginning of period $ 36,614 $ 29,745 Balance, end of period $ 36,266 $ 29,434

Restructuring Activities (Table

Restructuring Activities (Tables)	3 Months Ended
	Mar. 28, 2021
Restructuring and Related Activities [Abstract]
Changes in the Accrued Restructuring Liability	Changes in accrued restructuring expenses, which are included in Accrued liabilities on the Consolidated balance sheets, were as follows (in thousands). There were no restructuring activities during the three months ended March 29, 2020. Three months ended March 28, 2021 Employee Termination Benefits Contract Terminations Non-Current Asset Adjustments Total Balance, beginning of period $ 7,724 $ 16,196 $ — $ 23,920 Restructuring (benefit) expense (944) 1,106 (528) (366) Utilized – cash (3,661) (12,781) — (16,442) Utilized – non cash — — 528 528 Foreign currency changes (112) (54) — (166) Balance, end of period $ 3,007 $ 4,467 $ — $ 7,474

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 28, 2021
Earnings Per Share [Abstract]
Reconciliation of Earnings Per Share Basic and Diluted	The computation of basic and diluted earnings per share was as follows (in thousands, except per share amounts): Three months ended March 28, March 29, Net income $ 259,144 $ 69,695 Basic weighted-average shares outstanding 153,478 153,004 Effect of dilutive securities – employee stock compensation plan 1,012 740 Diluted weighted-average shares outstanding 154,490 153,744 Net earnings per share: Basic $ 1.69 $ 0.46 Diluted $ 1.68 $ 0.45

Additional Balance Sheet and _2

Additional Balance Sheet and Cash Flow Information (Tables)	3 Months Ended
	Mar. 28, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Marketable Securities	Investments in Marketable Securities – The Company’s investments in marketable securities consisted of the following (in thousands): March 28, December 31, March 29, Mutual funds $ 50,239 $ 52,061 $ 44,144
Inventories, Net	Inventories, net consisted of the following (in thousands): March 28, December 31, March 29, Raw materials and work in process $ 251,199 $ 211,979 $ 245,384 Motorcycle finished goods 185,590 281,132 272,648 Parts & Accessories and General Merchandise 88,291 84,469 149,318 Inventory at lower of FIFO cost or net realizable value 525,080 577,580 667,350 Excess of FIFO over LIFO cost (54,083) (54,083) (56,426) $ 470,997 $ 523,497 $ 610,924
Reconciliation of Net Cash Provided by Operating Activities	The reconciliation of Net income to Net cash provided (used) by operating activities was as follows (in thousands): Three months ended March 28, March 29, Cash flows from operating activities: Net income $ 259,144 $ 69,695 Adjustments to reconcile Net income to Net cash provided (used) by operating activities: Depreciation and amortization 40,221 47,427 Amortization of deferred loan origination costs 19,200 16,739 Amortization of financing origination fees 3,614 2,999 Provision for long-term employee benefits 7,090 7,852 Employee benefit plan contributions and payments (9,885) (1,608) Stock compensation expense 8,968 3,896 Net change in wholesale finance receivables related to sales (308,532) (208,183) Provision for credit losses (22,474) 79,419 Deferred income taxes 13,192 (3,803) Other, net 1,171 3,579 Changes in current assets and liabilities: Accounts receivable, net (79,012) (47,272) Finance receivables – accrued interest and other 8,947 4,007 Inventories, net 45,086 (23,943) Accounts payable and accrued liabilities 153,597 10,562 Derivative financial instruments (3,309) 2,812 Other 25,763 27,240 (96,363) (78,277) Net cash provided (used) by operating activities $ 162,781 $ (8,582)
Certificates of Deposit Maturity	Future maturities of the Company's certificates of deposit as of March 28, 2021 were as follows (in thousands): 2021 $ 80,000 2022 14,000 2023 7,000 2024 22,000 2025 — Thereafter 30,000 Unamortized fees (347) $ 152,653

Finance Receivables (Tables)

Finance Receivables (Tables)	3 Months Ended
	Mar. 28, 2021
Receivables [Abstract]
Finance Receivables	Finance receivables, net were as follows (in thousands): March 28, December 31, March 29, Retail finance receivables $ 6,310,982 $ 6,344,195 $ 6,269,247 Wholesale finance receivables 792,028 489,749 1,358,656 7,103,010 6,833,944 7,627,903 Allowance for credit losses (346,233) (390,936) (335,496) $ 6,756,777 $ 6,443,008 $ 7,292,407
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 March 28, 2021 Retail Wholesale Total Balance, beginning of period $ 371,738 $ 19,198 $ 390,936 Provision for credit losses (22,449) (25) (22,474) Charge-offs (34,589) — (34,589) Recoveries 12,360 — 12,360 Balance, end of period $ 327,060 $ 19,173 $ 346,233 Three months ended March 29, 2020 Retail Wholesale Total Balance, beginning of period $ 188,501 $ 10,080 $ 198,581 Cumulative effect of change in accounting (a) 95,558 5,046 100,604 Provision for credit losses 70,417 9,002 79,419 Charge-offs (55,215) — (55,215) Recoveries 12,107 — 12,107 Balance, end of period $ 311,368 $ 24,128 $ 335,496 (a) On January 1, 2020, the Company adopted ASU 2016-13 and increased the allowance for loan loss through Retained earnings , net of income taxes, to establish an allowance that represents expected lifetime credit losses on the finance receivable portfolios at date of adoption.
Financing Receivable Credit Quality Indicators	The amortized cost of the Company's U.S. and Canadian retail finance receivables by vintage and credit quality indicator was as follows (in thousands): March 28, 2021 2021 2020 2019 2018 2017 2016 & Prior Total U.S. Retail: Super prime $ 260,359 $ 725,383 $ 502,847 $ 301,839 $ 134,213 $ 74,086 $ 1,998,727 Prime 349,662 1,026,080 706,940 445,201 249,327 183,217 2,960,427 Sub-prime 130,389 395,495 263,203 156,368 96,998 100,827 1,143,280 740,410 2,146,958 1,472,990 903,408 480,538 358,130 6,102,434 Canadian Retail: Super prime 13,938 48,309 42,993 24,549 11,116 4,831 145,736 Prime 4,245 17,350 13,055 9,263 5,808 4,178 53,899 Sub-prime 601 2,949 2,227 1,407 951 778 8,913 18,784 68,608 58,275 35,219 17,875 9,787 208,548 $ 759,194 $ 2,215,566 $ 1,531,265 $ 938,627 $ 498,413 $ 367,917 $ 6,310,982 December 31, 2020 2020 2019 2018 2017 2016 2015 & Prior Total U.S. Retail: Super prime $ 822,631 $ 575,977 $ 355,529 $ 165,436 $ 71,360 $ 29,181 $ 2,020,114 Prime 1,133,637 794,058 508,713 293,358 156,688 77,046 2,963,500 Sub-prime 435,875 295,403 177,598 111,163 72,556 52,060 1,144,655 2,392,143 1,665,438 1,041,840 569,957 300,604 158,287 6,128,269 Canadian Retail: Super prime 53,465 48,692 28,581 13,818 5,018 2,011 151,585 Prime 18,568 14,257 10,269 6,727 3,198 2,025 55,044 Sub-prime 3,172 2,498 1,560 1,095 607 365 9,297 75,205 65,447 40,410 21,640 8,823 4,401 215,926 $ 2,467,348 $ 1,730,885 $ 1,082,250 $ 591,597 $ 309,427 $ 162,688 $ 6,344,195 March 29, 2020 2020 2019 2018 2017 2016 2015 & Prior Total U.S. Retail: Super prime $ 204,937 $ 825,176 $ 539,296 $ 275,621 $ 140,284 $ 62,924 $ 2,048,238 Prime 265,365 1,065,132 717,234 441,284 262,421 155,338 2,906,774 Sub-prime 108,068 394,291 239,571 155,391 108,531 98,124 1,103,976 578,370 2,284,599 1,496,101 872,296 511,236 316,386 6,058,988 Canadian Retail: Super prime 12,819 61,889 39,516 22,186 10,565 4,989 151,964 Prime 3,968 16,479 12,389 8,441 4,549 3,929 49,755 Sub-prime 768 2,827 1,919 1,348 921 757 8,540 17,555 81,195 53,824 31,975 16,035 9,675 210,259 $ 595,925 $ 2,365,794 $ 1,549,925 $ 904,271 $ 527,271 $ 326,061 $ 6,269,247 The amortized cost of wholesale financial receivables, by vintage and credit quality indicator, was as follows (in thousands): March 28, 2021 2021 2020 2019 2018 2017 2016 & Prior Total Non-Performing $ — $ — $ — $ — $ — $ — $ — Doubtful — — — — — — — Substandard — — — — — — — Special Mention 567 530 262 17 — — 1,376 Medium Risk — 728 417 — — — 1,145 Low Risk 600,144 122,970 44,614 12,568 6,392 2,819 789,507 $ 600,711 $ 124,228 $ 45,293 $ 12,585 $ 6,392 $ 2,819 $ 792,028 December 31, 2020 2020 2019 2018 2017 2016 2015 & Prior Total Non-Performing $ — $ — $ — $ — $ — $ — $ — Doubtful — — — — — — — Substandard — — — — — — — Special Mention 658 365 31 — — — 1,054 Medium Risk 1,925 242 — — — — 2,167 Low Risk 388,568 71,441 13,412 7,887 2,297 2,923 486,528 $ 391,151 $ 72,048 $ 13,443 $ 7,887 $ 2,297 $ 2,923 $ 489,749 March 29, 2020 2020 2019 2018 2017 2016 2015 & Prior Total Non-Performing $ — $ 2,376 $ 1,774 $ 107 $ 25 $ 43 $ 4,325 Doubtful 478 4,169 529 51 — 726 5,953 Substandard 5,375 6,374 391 131 — — 12,271 Special Mention 5,239 8,001 977 6 — 1,268 15,491 Medium Risk 8,307 10,996 1,091 23 — 826 21,243 Low Risk 658,137 574,401 47,101 10,997 6,323 2,414 1,299,373 $ 677,536 $ 606,317 $ 51,863 $ 11,315 $ 6,348 $ 5,277 $ 1,358,656
Impaired Financing Receivables	Additional information related to the wholesale finance receivables on non-accrual status at March 29, 2020 includes (in thousands): Amortized Cost, Beginning of Period Amortized Cost, End of Period Interest Income Recognized No related allowance recorded $ — $ — $ — Related allowance recorded 4,994 4,325 — $ 4,994 $ 4,325 $ —
Aging of Past Due Finance Receivables Including Non-Accrual Status Finance Receivables	The aging analysis of finance receivables was as follows (in thousands): March 28, 2021 Current 31-60 Days 61-90 Days Greater than Total Total Retail finance receivables $ 6,196,345 $ 69,032 $ 23,420 $ 22,185 $ 114,637 $ 6,310,982 Wholesale finance receivables 791,826 128 22 52 202 792,028 $ 6,988,171 $ 69,160 $ 23,442 $ 22,237 $ 114,839 $ 7,103,010 December 31, 2020 Current 31-60 Days 61-90 Days Greater than Total Total Retail finance receivables $ 6,164,369 $ 106,818 $ 39,933 $ 33,075 $ 179,826 $ 6,344,195 Wholesale finance receivables 489,556 166 23 4 193 489,749 $ 6,653,925 $ 106,984 $ 39,956 $ 33,079 $ 180,019 $ 6,833,944 March 29, 2020 Current 31-60 Days 61-90 Days Greater than Total Total Retail finance receivables $ 6,091,319 $ 101,412 $ 37,816 $ 38,700 $ 177,928 $ 6,269,247 Wholesale finance receivables 1,352,084 2,051 1,437 3,084 6,572 1,358,656 $ 7,443,403 $ 103,463 $ 39,253 $ 41,784 $ 184,500 $ 7,627,903

Derivative Financial Instrume_2

Derivative Financial Instruments and Hedging Activities (Tables)	3 Months Ended
	Mar. 28, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instrument Fair Value	The notional and fair values of the Company's derivative financial instruments under ASC Topic 815 were as follows (in thousands): Derivative Financial Instruments March 28, 2021 December 31, 2020 March 29, 2020 Notional Other Current Assets Accrued Liabilities Notional Other Current Assets Accrued Liabilities Notional Other Current Assets Accrued Liabilities Foreign currency contracts $ 402,814 $ 6,356 $ 6,071 $ 533,925 $ 11 $ 21,927 $ 414,753 $ 12,108 $ 575 Commodity contracts 668 3 20 671 — 52 482 — 74 Cross-currency swaps 1,367,460 73,449 — 1,367,460 138,622 — 660,780 — 41,283 Interest rate swaps — — — 450,000 — 3,086 900,000 — 11,398 $ 1,770,942 $ 79,808 $ 6,091 $ 2,352,056 $ 138,633 $ 25,065 $ 1,976,015 $ 12,108 $ 53,330 Derivative Financial Instruments March 28, 2021 December 31, 2020 March 29, 2020 Notional Other Current Assets Accrued Liabilities Notional Other Current Assets Accrued Liabilities Notional Other Current Assets Accrued Liabilities Foreign currency contracts $ 214,337 $ 670 $ 595 $ 245,494 $ 737 $ 435 $ 182,642 $ 2,573 $ 2,194 Commodity contracts 8,172 1,193 40 6,806 849 21 7,769 — 1,452 Interest rate caps 844,673 170 — 978,058 47 — 326,976 2 — $ 1,067,182 $ 2,033 $ 635 $ 1,230,358 $ 1,633 $ 456 $ 517,387 $ 2,575 $ 3,646
Gain/(Loss) on Derivative Cash Flow Hedges Reclassified From AOCI Into Income	The amounts of gains and losses related to derivative financial instruments designated as cash flow hedges were as follows (in thousands): Gain/(Loss) Gain/(Loss) Three months ended Three months ended March 28, March 29, March 28, March 29, Foreign currency contracts $ 14,037 $ 16,899 $ (4,953) $ 3,400 Commodity contracts 3 (129) (32) (135) Cross-currency swaps (65,174) (49,609) (65,788) (12,906) Treasury rate lock contracts — — (124) (124) Interest rate swaps 397 (5,333) (2,689) (3,116) $ (50,737) $ (38,172) $ (73,586) $ (12,881) The location and amount of gains and losses recognized in income related to derivative financial instruments designated as cash flow hedges were as follows (in thousands): Motorcycles Selling, administrative & Interest expense Financial Services interest expense Three months ended March 28, 2021 Line item on the Consolidated statements of operations in which the effects of cash flow hedges are recorded $ 811,622 $ 231,844 $ 7,708 $ 55,707 Gain/(loss) reclassified from AOCL into income: Foreign currency contracts $ (4,953) $ — $ — $ — Commodity contracts $ (32) $ — $ — $ — Cross-currency swaps $ — $ (65,788) $ — $ — Treasury rate lock contracts $ — $ — $ (91) $ (33) Interest rate swap $ — $ — $ — $ (2,689) Three months ended March 29, 2020 Line item on the Consolidated statements of operations in which the effects of cash flow hedges are recorded $ 780,868 $ 277,971 $ 7,755 $ 52,473 Gain/(loss) reclassified from AOCL into income: Foreign currency contracts $ 3,400 $ — $ — $ — Commodity contracts $ (135) $ — $ — $ — Cross-currency swaps $ — $ (12,906) $ — $ — Treasury rate lock contracts $ — $ — $ (91) $ (33) Interest rate swaps $ — $ — $ — $ (3,116)
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location	The amount of gains and losses recognized in income related to derivative financial instruments not designated as hedging instruments were as follows (in thousands). Gains and losses on foreign currency contracts and commodity contracts were recorded in Motorcycles cost of goods sold and the interest rate caps were recorded in Financial Services interest expense. Amount of Gain/(Loss) Three months ended March 28, March 29, Foreign currency contracts $ (3,629) $ 2,194 Commodity contracts 703 (1,551) Interest rate caps 123 — $ (2,803) $ 643

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 28, 2021
Leases [Abstract]
Balance sheet information related to leases	Balance sheet information related to the Company's leases was as follows (in thousands): March 28, December 31, March 29, Lease assets $ 44,765 $ 45,203 $ 56,496 Accrued liabilities $ 17,021 $ 17,081 $ 17,939 Lease liabilities 30,061 30,115 40,053 $ 47,082 $ 47,196 $ 57,992
Future maturities of lease liabilities	Future maturities of the Company's operating lease liabilities as of March 28, 2021 were as follows (in thousands): Operating Leases 2021 $ 13,805 2022 14,466 2023 6,511 2024 4,518 2025 6,816 Thereafter 3,677 Future lease payments 49,793 Present value discount (2,711) Lease liabilities $ 47,082
Other lease information	Other lease information surrounding the Company's operating leases was as follows (dollars in thousands): Three months ended March 28, March 29, Cash outflows for amounts included in the measurement of lease liabilities $ 4,947 $ 5,378 ROU assets obtained in exchange for lease obligations, net of modifications $ 5,305 $ 557 March 28, December 31, March 29, Weighted-average remaining lease term (in years) 3.81 3.78 4.20 Weighted-average discount rate 2.9 % 3.1 % 3.3 %

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 28, 2021
Debt Disclosure [Abstract]
Schedule of Short-term Debt	Debt with a contractual term less than 12 months is generally classified as short-term and consisted of the following (in thousands): March 28, December 31, March 29, Unsecured commercial paper $ 749,801 $ 1,014,274 $ 1,335,664 Global credit facility borrowings 15,462 — — $ 765,263 $ 1,014,274 $ 1,335,664
Schedule of Long-term Debt Instruments	Debt with a contractual term greater than 12 months is generally classified as long-term and consisted of the following (in thousands): March 28, December 31, March 29, Secured debt: Asset-backed Canadian commercial paper conduit facility $ 102,543 $ 116,678 $ 155,243 Asset-backed U.S. commercial paper conduit facilities 350,648 402,205 600,000 Asset-backed securitization debt 2,109,046 1,800,393 1,161,047 Unamortized discounts and debt issuance costs (9,788) (8,437) (4,202) 2,552,449 2,310,839 1,912,088 Unsecured notes (at par value): Medium-term notes: Due in 2020, issued May 2018 LIBOR + 0.50% — — 450,000 Due in 2020, issued March 2017 2.40 % — — 350,000 Due in 2021, issued January 2016 2.85 % — 600,000 600,000 Due in 2021, issued November 2018 LIBOR + 0.94% — 450,000 450,000 Due in 2021, issued May 2018 3.55 % 350,000 350,000 350,000 Due in 2022, issued February 2019 4.05 % 550,000 550,000 550,000 Due in 2022, issued June 2017 2.55 % 400,000 400,000 400,000 Due in 2023, issued February 2018 3.35 % 350,000 350,000 350,000 Due in 2023, issued May 2020 (a) 4.94 % 762,996 797,206 — Due in 2024, issued November 2019 (b) 3.14 % 704,304 735,882 660,030 Due in 2025, issued June 2020 3.35 % 700,000 700,000 — Unamortized discounts and debt issuance costs (13,564) (15,374) (11,046) 3,803,736 4,917,714 4,148,984 Senior notes: Due in 2025, issued July 2015 3.50 % 450,000 450,000 450,000 Due in 2045, issued July 2015 4.625 % 300,000 300,000 300,000 Unamortized discounts and debt issuance costs (5,851) (6,023) (6,534) 744,149 743,977 743,466 4,547,885 5,661,691 4,892,450 Long-term debt 7,100,334 7,972,530 6,804,538 Current portion of long-term debt, net (1,622,243) (2,039,597) (2,326,460) Long-term debt, net $ 5,478,091 $ 5,932,933 $ 4,478,078 (a) Euro denominated, €650.0 million par value remeasured to U.S. dollar at March 28, 2021 and December 31, 2020, respectively (b) Euro denominated, €600.0 million par value remeasured to U.S. dollar at March 28, 2021, December 31, 2020, and March 29, 2020, respectively
Schedule of Maturities of Long-term Debt	The Company's future principal payments on debt obligations as of March 28, 2021 were as follows (in thousands): 2021 $ 1,670,913 2022 1,685,613 2023 1,829,349 2024 1,120,828 2025 1,287,560 Thereafter 300,537 $ 7,894,800

Asset-Backed Financing (Tables)

Asset-Backed Financing (Tables)	3 Months Ended
	Mar. 28, 2021
Transfers and Servicing [Abstract]
Assets and Liabilities Related to the On-Balance Sheet Financing	The assets and liabilities related to the on-balance sheet asset-backed financings included in the Consolidated balance sheets were as follows (in thousands): March 28, 2021 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 $ 2,448,681 $ (126,053) $ 166,694 $ 2,852 $ 2,492,174 $ 2,099,258 Asset-backed U.S. commercial paper conduit facility 378,035 (19,432) 30,252 1,175 390,030 350,648 Unconsolidated VIEs: Asset-backed Canadian commercial paper conduit facility 115,742 (5,388) 9,743 206 120,303 102,543 $ 2,942,458 $ (150,873) $ 206,689 $ 4,233 $ 3,002,507 $ 2,552,449 December 31, 2020 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 $ 2,129,372 $ (124,627) $ 116,268 $ 2,622 $ 2,123,635 $ 1,791,956 Asset-backed U.S. commercial paper conduit facility 441,402 (25,793) 26,624 1,131 443,364 402,205 Unconsolidated VIEs: Asset-backed Canadian commercial paper conduit facility 133,976 (6,508) 9,073 126 136,667 116,678 $ 2,704,750 $ (156,928) $ 151,965 $ 3,879 $ 2,703,666 $ 2,310,839 March 29, 2020 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 $ 1,250,382 $ (62,159) $ 61,945 $ 852 $ 1,251,020 $ 1,156,845 Asset-backed U.S. commercial paper conduit facilities 662,385 (32,872) 37,290 1,410 668,213 600,000 Unconsolidated VIEs: Asset-backed Canadian commercial paper conduit facility 182,353 (6,671) 10,552 148 186,382 155,243 $ 2,095,120 $ (101,702) $ 109,787 $ 2,410 $ 2,105,615 $ 1,912,088

Fair Value (Tables)

Fair Value (Tables)	3 Months Ended
	Mar. 28, 2021
Fair Value Disclosures [Abstract]
Summary of Assets and Liabilities Measured At Fair Value On A Recurring Basis	The Company’s assets and liabilities measured at fair value on a recurring basis were as follows (in thousands): March 28, 2021 Balance Level 1 Level 2 Assets: Cash equivalents $ 2,069,400 $ 1,919,400 $ 150,000 Marketable securities 50,239 50,239 — Derivative financial instruments 81,841 — 81,841 $ 2,201,480 $ 1,969,639 $ 231,841 Liabilities: Derivative financial instruments $ 6,726 $ — $ 6,726 December 31, 2020 Balance Level 1 Level 2 Assets: Cash equivalents $ 3,019,884 $ 2,819,884 $ 200,000 Marketable securities 52,061 52,061 — Derivative financial instruments 140,266 — 140,266 $ 3,212,211 $ 2,871,945 $ 340,266 Liabilities: Derivative financial instruments $ 25,521 $ — $ 25,521 March 29, 2020 Balance Level 1 Level 2 Assets: Cash equivalents $ 1,207,799 $ 1,144,800 $ 62,999 Marketable securities 44,144 44,144 — Derivative financial instruments 14,683 — 14,683 $ 1,266,626 $ 1,188,944 $ 77,682 Liabilities: Derivative financial instruments $ 56,976 $ — $ 56,976
Summary of The Fair Value and Carrying Value of The Company's Financial Instruments	The fair value and carrying value of the Company’s remaining financial instruments that are measured at cost or amortized cost were as follows (in thousands): March 28, 2021 December 31, 2020 March 29, 2020 Fair Value Carrying Value Fair Value Carrying Value Fair Value Carrying Value Assets: Finance receivables, net $ 6,930,531 $ 6,756,777 $ 6,586,348 $ 6,443,008 $ 7,391,948 $ 7,292,407 Liabilities: Deposits, net $ 152,715 $ 152,653 $ 79,965 $ 79,965 $ — $ — Debt: Unsecured commercial paper $ 749,801 $ 749,801 $ 1,014,274 $ 1,014,274 $ 1,335,664 $ 1,335,664 Global credit facility borrowings $ 15,462 $ 15,462 $ — $ — $ — $ — Asset-backed U.S. commercial paper conduit facilities $ 350,648 $ 350,648 $ 402,205 $ 402,205 $ 600,000 $ 600,000 Asset-backed Canadian commercial paper conduit facility $ 102,543 $ 102,543 $ 116,678 $ 116,678 $ 155,243 $ 155,243 Asset-backed securitization debt $ 2,120,855 $ 2,099,258 $ 1,817,892 $ 1,791,956 $ 1,139,076 $ 1,156,845 Medium-term notes $ 3,955,743 $ 3,803,736 $ 5,118,928 $ 4,917,714 $ 4,013,409 $ 4,148,984 Senior notes $ 789,967 $ 744,149 $ 828,141 $ 743,977 $ 685,805 $ 743,466

Product Warranty and Recall C_2

Product Warranty and Recall Campaigns (Tables)	3 Months Ended
	Mar. 28, 2021
Product Warranties Disclosures [Abstract]
Warranty and Recall Liability	Changes in the Company’s warranty and recall liabilities were as follows (in thousands): Three months ended March 28, March 29, Balance, beginning of period $ 69,208 $ 89,793 Warranties issued during the period 11,672 11,025 Settlements made during the period (8,585) (14,157) Recalls and changes to pre-existing warranty liabilities 132 (353) Balance, end of period $ 72,427 $ 86,308

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	3 Months Ended
	Mar. 28, 2021
Retirement Benefits [Abstract]
Components of Net Periodic Benefit Costs	Components of net periodic benefit cost for the Company's defined benefit plans were as follows (in thousands): Three months ended March 28, March 29, Pension and SERPA Benefits: Service cost $ 6,348 $ 6,806 Interest cost 15,470 19,112 Expected return on plan assets (32,720) (33,764) Amortization of unrecognized: Prior service credit (312) (272) Net loss 18,386 16,372 Settlement loss 816 — Net periodic benefit cost $ 7,988 $ 8,254 Postretirement Healthcare Benefits: Service cost $ 1,288 $ 1,201 Interest cost 1,626 2,336 Expected return on plan assets (3,495) (3,467) Amortization of unrecognized: Prior service credit (581) (595) Net loss 264 123 Net periodic benefit cost $ (898) $ (402)

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 28, 2021
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Loss	Changes in Accumulated other comprehensive loss were as follows (in thousands): Three months ended March 28, 2021 Foreign currency translation adjustments Derivative financial instruments Pension and postretirement benefit plans Total Balance, beginning of period $ (7,589) $ (46,116) $ (429,712) $ (483,417) Other comprehensive loss, before reclassifications (17,074) (50,737) — (67,811) Income tax (expense) benefit (264) 11,092 — 10,828 (17,338) (39,645) — (56,983) Reclassifications: Net loss on derivative financial instruments — 73,586 — 73,586 Prior service credits (a) — — (893) (893) Actuarial losses (a) — — 18,650 18,650 Reclassifications before tax — 73,586 17,757 91,343 Income tax expense — (16,411) (4,169) (20,580) — 57,175 13,588 70,763 Other comprehensive (loss) income (17,338) 17,530 13,588 13,780 Balance, end of period $ (24,927) $ (28,586) $ (416,124) $ (469,637) Three months ended March 29, 2020 Foreign currency translation adjustments Derivative financial instruments Pension and postretirement benefit plans Total Balance, beginning of period $ (40,813) $ (14,586) $ (481,550) $ (536,949) Other comprehensive loss, before reclassifications (35,821) (38,172) — (73,993) Income tax benefit 1,366 8,267 — 9,633 (34,455) (29,905) — (64,360) Reclassifications: Net loss on derivative financial instruments — 12,881 — 12,881 Prior service credits (a) — — (867) (867) Actuarial losses (a) — — 16,495 16,495 Reclassifications before tax — 12,881 15,628 28,509 Income tax expense — (2,821) (3,669) (6,490) — 10,060 11,959 22,019 Other comprehensive (loss) income (34,455) (19,845) 11,959 (42,341) Balance, end of period $ (75,268) $ (34,431) $ (469,591) $ (579,290) (a) Amounts reclassified are included in the computation of net periodic benefit cost, discussed further in Note 15

Business Segments (Tables)

Business Segments (Tables)	3 Months Ended
	Mar. 28, 2021
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Select segment information is set forth below (in thousands): Three months ended March 28, March 29, Motorcycles and Related Products: Motorcycles revenue $ 1,232,107 $ 1,099,788 Gross profit 420,485 318,920 Selling, administrative and engineering expense 193,546 234,353 Restructuring benefit (593) — Operating income 227,532 84,567 Financial Services: Financial Services revenue 190,400 198,456 Financial Services expense 71,531 175,510 Restructuring expense 227 — Operating income 118,642 22,946 Operating income $ 346,174 $ 107,513

Supplemental Consolidating Da_2

Supplemental Consolidating Data (Tables)	3 Months Ended
	Mar. 28, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Operations	Three months ended March 28, 2021 HDMC Entities HDFS Entities Consolidating Adjustments Consolidated Revenue: Motorcycles and Related Products $ 1,238,468 $ — $ (6,361) $ 1,232,107 Financial Services — 188,750 1,650 190,400 1,238,468 188,750 (4,711) 1,422,507 Costs and expenses: Motorcycles and Related Products cost of goods sold 811,622 — — 811,622 Financial Services interest expense — 55,707 — 55,707 Financial Services provision for credit losses — (22,474) — (22,474) Selling, administrative and engineering expense 196,359 40,275 (4,790) 231,844 Restructuring (benefit) expense (593) 227 — (366) 1,007,388 73,735 (4,790) 1,076,333 Operating income 231,080 115,015 79 346,174 Other income, net 277 — — 277 Investment income 1,402 — — 1,402 Interest expense 7,708 — — 7,708 Income before income taxes 225,051 115,015 79 340,145 Provision for income taxes 55,996 25,005 — 81,001 Net income $ 169,055 $ 90,010 $ 79 $ 259,144
Balance Sheet	March 28, 2021 HDMC Entities HDFS Entities Consolidating Adjustments Consolidated ASSETS Current assets: Cash and cash equivalents $ 607,941 $ 1,712,704 $ — $ 2,320,645 Accounts receivable, net 603,273 — (386,704) 216,569 Finance receivables, net — 1,798,194 — 1,798,194 Inventories, net 470,997 — — 470,997 Restricted cash — 185,374 — 185,374 Other current assets 81,559 113,797 — 195,356 1,763,770 3,810,069 (386,704) 5,187,135 Finance receivables, net — 4,958,583 — 4,958,583 Property, plant and equipment, net 687,086 31,882 — 718,968 Pension and postretirement assets 105,910 — — 105,910 Goodwill 65,157 — — 65,157 Deferred income taxes 56,911 79,206 (730) 135,387 Lease assets 36,559 8,206 — 44,765 Other long-term assets 184,876 33,929 (95,722) 123,083 $ 2,900,269 $ 8,921,875 $ (483,156) $ 11,338,988 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable $ 355,722 $ 433,746 $ (386,704) $ 402,764 Accrued liabilities 443,529 125,768 1,143 570,440 Short-term deposits, net — 93,887 — 93,887 Short-term debt — 765,263 — 765,263 Current portion of long-term debt, net — 1,622,243 — 1,622,243 799,251 3,040,907 (385,561) 3,454,597 Long-term deposits, net — 58,766 — 58,766 Long-term debt, net 744,149 4,733,942 — 5,478,091 Lease liabilities 22,461 7,600 — 30,061 Pension and postretirement liabilities 103,854 — — 103,854 Deferred income taxes 7,166 1,516 — 8,682 Other long-term liabilities 179,525 46,920 2,106 228,551 Commitments and contingencies (Note 16) Shareholders’ equity 1,043,863 1,032,224 (99,701) 1,976,386 $ 2,900,269 $ 8,921,875 $ (483,156) $ 11,338,988
Cash Flows	Three months ended March 28, 2021 HDMC Entities HDFS Entities Consolidating Adjustments Consolidated Cash flows from operating activities: Net income $ 169,055 $ 90,010 $ 79 $ 259,144 Adjustments to reconcile Net income to Net cash (used) provided by operating activities: Depreciation and amortization 37,778 2,443 — 40,221 Amortization of deferred loan origination costs — 19,200 — 19,200 Amortization of financing origination fees 172 3,442 — 3,614 Provision for long-term employee benefits 7,090 — — 7,090 Employee benefit plan contributions and payments (9,885) — — (9,885) Stock compensation expense 8,174 794 — 8,968 Net change in wholesale finance receivables related to sales — — (308,532) (308,532) Provision for credit losses — (22,474) — (22,474) Deferred income taxes 3,811 9,812 (431) 13,192 Other, net 476 775 (80) 1,171 Changes in current assets and liabilities: Accounts receivable, net (388,688) — 309,676 (79,012) Finance receivables – accrued interest and other — 8,947 — 8,947 Inventories, net 45,086 — — 45,086 Accounts payable and accrued liabilities 104,486 354,507 (305,396) 153,597 Derivative financial instruments (3,219) (90) — (3,309) Other 18,222 11,271 (3,730) 25,763 (176,497) 388,627 (308,493) (96,363) Net cash (used) provided by operating activities (7,442) 478,637 (308,414) 162,781 Cash flows from investing activities: Capital expenditures (18,427) (386) — (18,813) Origination of finance receivables — (1,923,911) 1,014,773 (909,138) Collections on finance receivables — 1,606,844 (706,359) 900,485 Other investing activities 733 — — 733 Net cash used by investing activities (17,694) (317,453) 308,414 (26,733) Three months ended March 28, 2021 HDMC Entities HDFS Entities Consolidating Adjustments Consolidated Cash flows from financing activities: Repayments of medium-term notes — (1,050,000) — (1,050,000) Proceeds from securitization debt — 597,411 — 597,411 Repayments of securitization debt — (291,346) — (291,346) Repayments of asset-backed commercial paper — (66,894) — (66,894) Net decrease in unsecured commercial paper — (262,517) — (262,517) Net increase in credit facilities — 15,629 — 15,629 Net increase in deposits — 72,664 — 72,664 Dividends paid (23,105) — — (23,105) Repurchase of common stock (5,646) — — (5,646) Issuance of common stock under share-based plans 1,085 — — 1,085 Net cash used by financing activities (27,666) (985,053) — (1,012,719) Effect of exchange rate changes on cash, cash equivalents and restricted cash (5,418) 255 — (5,163) Net decrease in cash, cash equivalents and restricted cash $ (58,220) $ (823,614) $ — $ (881,834) Cash, cash equivalents and restricted cash: Cash, cash equivalents and restricted cash, beginning of period $ 666,161 $ 2,743,007 $ — $ 3,409,168 Net decrease in cash, cash equivalents and restricted cash (58,220) (823,614) — (881,834) Cash, cash equivalents and restricted cash, end of period $ 607,941 $ 1,919,393 $ — $ 2,527,334

Basis of Presentation and Use_3

Basis of Presentation and Use of Estimates (Details)	3 Months Ended
	Mar. 28, 2021segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	2

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Disaggregation of Revenue
Total revenue	$ 1,422,507	$ 1,298,244
Motorcycles and Related Products
Disaggregation of Revenue
Motorcycles revenue	1,232,107	1,099,788
Motorcycles and Related Products | Motorcycles
Disaggregation of Revenue
Motorcycles revenue	1,016,334	899,365
Motorcycles and Related Products | Parts & Accessories
Disaggregation of Revenue
Motorcycles revenue	149,859	134,685
Motorcycles and Related Products | General Merchandise
Disaggregation of Revenue
Motorcycles revenue	50,323	49,160
Motorcycles and Related Products | Licensing
Disaggregation of Revenue
Motorcycles revenue	5,512	8,029
Motorcycles and Related Products | Other
Disaggregation of Revenue
Motorcycles revenue	10,079	8,549
Financial services
Disaggregation of Revenue
Financial Services	190,400	198,456
Financial services | Interest income
Disaggregation of Revenue
Financial Services	159,814	170,001
Financial services | Other
Disaggregation of Revenue
Financial Services	$ 30,586	$ 28,455

Revenue - Contract Liabilities

Revenue - Contract Liabilities (Details) - USD ($) $ in Thousands	Mar. 28, 2021	Dec. 31, 2020	Mar. 29, 2020
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Roll Forward]
Balance, beginning of period	$ 36,614	$ 29,434	$ 29,745
Balance, end of period	$ 36,266	$ 36,614	$ 29,434

Revenue - Additional Informatio

Revenue - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Recognized deferred revenue	$ 6.2	$ 6.9
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-03-29
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unearned revenue to be recognized	$ 14.9
Revenue, remaining performance obligation period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unearned revenue to be recognized	$ 21.4
Revenue, remaining performance obligation period

Restructuring Activities - Addi

Restructuring Activities - Additional Information (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 28, 2021USD ($)	Mar. 29, 2020USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020Employees
Restructuring Cost and Reserve
Restructuring expenses	$ 16,442
Restructuring benefit	(366)	$ 0
Forecast
Restructuring Cost and Reserve
Restructuring benefit			$ 20,000
Employee Termination Benefits
Restructuring Cost and Reserve
Restructuring expenses	3,661
Restructuring benefit	(944)
Contract Termination
Restructuring Cost and Reserve
Restructuring expenses	12,781
Restructuring benefit	1,106
Non-Current Asset Adjustments
Restructuring Cost and Reserve
Restructuring expenses	0
Restructuring benefit	(528)
Motorcycles and Related Products
Restructuring Cost and Reserve
Restructuring benefit	(593)	0
Financial services
Restructuring Cost and Reserve
Restructuring benefit	227	$ 0
2020 Restructuring Activities
Restructuring Cost and Reserve
Expected number of employees eliminated | Employees				500
Restructuring and consolidation costs	129,600
Restructuring expenses	150,000
2020 Restructuring Activities | India
Restructuring Cost and Reserve
Expected number of employees eliminated | Employees				70
2020 Restructuring Activities | Employee Termination Benefits
Restructuring Cost and Reserve
Restructuring expenses	30,000
2020 Restructuring Activities | Contract Termination
Restructuring Cost and Reserve
Restructuring expenses	90,000
2020 Restructuring Activities | Non-Current Asset Adjustments
Restructuring Cost and Reserve
Restructuring expenses	30,000
2020 Restructuring Activities | Motorcycles and Related Products
Restructuring Cost and Reserve
Restructuring expenses	139,000
2020 Restructuring Activities | Financial services
Restructuring Cost and Reserve
Restructuring expenses	$ 11,000

Restructuring Activities - Rest

Restructuring Activities - Restructuring Plan Reserve Recorded in Accrued Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Restructuring Reserve [Roll Forward]
Balance, beginning of period	$ 23,920
Restructuring (benefit) expense	(366)	$ 0
Utilized – cash	(16,442)
Utilized – non cash	528
Foreign currency changes	(166)
Balance, end of period	7,474
Employee Termination Benefits
Restructuring Reserve [Roll Forward]
Balance, beginning of period	7,724
Restructuring (benefit) expense	(944)
Utilized – cash	(3,661)
Utilized – non cash	0
Foreign currency changes	(112)
Balance, end of period	3,007
Contract Termination
Restructuring Reserve [Roll Forward]
Balance, beginning of period	16,196
Restructuring (benefit) expense	1,106
Utilized – cash	(12,781)
Utilized – non cash	0
Foreign currency changes	(54)
Balance, end of period	4,467
Non-Current Asset Adjustments
Restructuring Reserve [Roll Forward]
Balance, beginning of period	0
Restructuring (benefit) expense	(528)
Utilized – cash	0
Utilized – non cash	528
Foreign currency changes	0
Balance, end of period	$ 0

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Income Tax Disclosure [Abstract]
Income tax rate	23.80%	26.30%

Earnings Per Share - Reconcilia

Earnings Per Share - Reconciliation Of Earnings Per Share Basic And Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Numerator:
Net income	$ 259,144	$ 69,695
Weighted Average Number of Shares Outstanding Reconciliation [Abstract]
Basic weighted-average shares outstanding (in shares)	153,478	153,004
Effect of dilutive securities - employee stock compensation plan (in shares)	1,012	740
Diluted weighted-average shares outstanding (in shares)	154,490	153,744
Net earnings per share:
Basic (in dollars per share)	$ 1.69	$ 0.46
Diluted (in dollars per share)	$ 1.68	$ 0.45

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Details) - shares shares in Millions	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share
Shares considered anti-dilutive and excluded from computation	0.6	1.7

Additional Balance Sheet and _3

Additional Balance Sheet and Cash Flow Information - Marketable Securities (Details) - USD ($) $ in Thousands	Mar. 28, 2021	Dec. 31, 2020	Mar. 29, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Mutual funds	$ 50,239	$ 52,061	$ 44,144

Additional Balance Sheet and _4

Additional Balance Sheet and Cash Flow Information - Inventories, Net (Details) - USD ($) $ in Thousands	Mar. 28, 2021	Dec. 31, 2020	Mar. 29, 2020
Inventory
Raw materials and work in process	$ 251,199	$ 211,979	$ 245,384
Inventory at lower of FIFO cost or net realizable value	525,080	577,580	667,350
Excess of FIFO over LIFO cost	(54,083)	(54,083)	(56,426)
Total inventories, net	470,997	523,497	610,924
Deposits			0
Certificates of Deposit
Inventory
Deposits	152,700	80,000
Motorcycles
Inventory
Finished goods	185,590	281,132	272,648
Parts & Accessories and General Merchandise
Inventory
Finished goods	$ 88,291	$ 84,469	$ 149,318

Additional Balance Sheet and _5

Additional Balance Sheet and Cash Flow Information - Certificates of Deposit (Details) $ in Thousands	Mar. 28, 2021USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
2021	$ 80,000
2022	14,000
2023	7,000
2024	22,000
2025	0
Thereafter	30,000
Unamortized fees	(347)
Total	$ 152,653

Additional Balance Sheet and _6

Additional Balance Sheet and Cash Flow Information - Reconciliation Of Net Income To Net Cash Used By Operating Activities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Cash flows from operating activities:
Net income	$ 259,144	$ 69,695
Adjustments to reconcile Net income to Net cash provided (used) by operating activities:
Depreciation and amortization	40,221	47,427
Amortization of deferred loan origination costs	19,200	16,739
Amortization of financing origination fees	3,614	2,999
Provision for long-term employee benefits	7,090	7,852
Employee benefit plan contributions and payments	(9,885)	(1,608)
Stock compensation expense	8,968	3,896
Net change in wholesale finance receivables related to sales	(308,532)	(208,183)
Provision for credit losses	(22,474)	79,419
Deferred income taxes	13,192	(3,803)
Other, net	1,171	3,579
Changes in current assets and liabilities:
Accounts receivable, net	(79,012)	(47,272)
Finance receivables – accrued interest and other	8,947	4,007
Inventories, net	45,086	(23,943)
Accounts payable and accrued liabilities	153,597	10,562
Derivative financial instruments	(3,309)	2,812
Other	25,763	27,240
Total adjustments	(96,363)	(78,277)
Net cash provided (used) by operating activities	$ 162,781	$ (8,582)

Finance Receivables - Finance R

Finance Receivables - Finance Receivables, Net (Details) - USD ($) $ in Thousands	Mar. 28, 2021	Dec. 31, 2020	Mar. 29, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable
Financing receivable, gross	$ 7,103,010	$ 6,833,944	$ 7,627,903
Allowance for credit losses	(346,233)	(390,936)	(335,496)	$ (198,581)
Total allowance for credit loss	6,756,777	6,443,008	7,292,407
Retail
Accounts, Notes, Loans and Financing Receivable
Financing receivable, gross	6,310,982	6,344,195	6,269,247
Allowance for credit losses	(327,060)	(371,738)	(311,368)	(188,501)
Wholesale
Accounts, Notes, Loans and Financing Receivable
Financing receivable, gross	792,028	489,749	1,358,656
Allowance for credit losses	$ (19,173)	$ (19,198)	$ (24,128)	$ (10,080)

Finance Receivables - Changes I

Finance Receivables - Changes In Allowance For Credit Losses On Finance Receivables (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	$ 390,936	$ 198,581
Provision for credit losses	(22,474)	79,419
Charge-offs	(34,589)	(55,215)
Recoveries	12,360	12,107
Balance, end of period	346,233	335,496
Cumulative Effect, Period Of Adoption, Adjustment
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period		100,604
Retail
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	371,738	188,501
Provision for credit losses	(22,449)	70,417
Charge-offs	(34,589)	(55,215)
Recoveries	12,360	12,107
Balance, end of period	327,060	311,368
Retail | Cumulative Effect, Period Of Adoption, Adjustment
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period		95,558
Wholesale
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	19,198	10,080
Provision for credit losses	(25)	9,002
Charge-offs	0	0
Recoveries	0	0
Balance, end of period	$ 19,173	24,128
Wholesale | Cumulative Effect, Period Of Adoption, Adjustment
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period		$ 5,046

Finance Receivables - Recorded

Finance Receivables - Recorded Investment in Retail Finance Receivables, by Credit Quality Indicator (Details) - USD ($) $ in Thousands	Mar. 28, 2021	Dec. 31, 2020	Mar. 29, 2020
Financing Receivable, Allowance for Credit Losses
Financing receivable, gross	$ 7,103,010	$ 6,833,944	$ 7,627,903
Retail
Financing Receivable, Allowance for Credit Losses
2021	759,194	2,467,348	595,925
2020	2,215,566	1,730,885	2,365,794
2019	1,531,265	1,082,250	1,549,925
2018	938,627	591,597	904,271
2017	498,413	309,427	527,271
2016 & Prior	367,917	162,688	326,061
Financing receivable, gross	6,310,982	6,344,195	6,269,247
Retail | UNITED STATES
Financing Receivable, Allowance for Credit Losses
2021	740,410	2,392,143	578,370
2020	2,146,958	1,665,438	2,284,599
2019	1,472,990	1,041,840	1,496,101
2018	903,408	569,957	872,296
2017	480,538	300,604	511,236
2016 & Prior	358,130	158,287	316,386
Financing receivable, gross	6,102,434	6,128,269	6,058,988
Retail | CANADA
Financing Receivable, Allowance for Credit Losses
2021	18,784	75,205	17,555
2020	68,608	65,447	81,195
2019	58,275	40,410	53,824
2018	35,219	21,640	31,975
2017	17,875	8,823	16,035
2016 & Prior	9,787	4,401	9,675
Financing receivable, gross	208,548	215,926	210,259
Retail | Super prime | UNITED STATES
Financing Receivable, Allowance for Credit Losses
2021	260,359	822,631	204,937
2020	725,383	575,977	825,176
2019	502,847	355,529	539,296
2018	301,839	165,436	275,621
2017	134,213	71,360	140,284
2016 & Prior	74,086	29,181	62,924
Financing receivable, gross	1,998,727	2,020,114	2,048,238
Retail | Super prime | CANADA
Financing Receivable, Allowance for Credit Losses
2021	13,938	53,465	12,819
2020	48,309	48,692	61,889
2019	42,993	28,581	39,516
2018	24,549	13,818	22,186
2017	11,116	5,018	10,565
2016 & Prior	4,831	2,011	4,989
Financing receivable, gross	145,736	151,585	151,964
Retail | Prime | UNITED STATES
Financing Receivable, Allowance for Credit Losses
2021	349,662	1,133,637	265,365
2020	1,026,080	794,058	1,065,132
2019	706,940	508,713	717,234
2018	445,201	293,358	441,284
2017	249,327	156,688	262,421
2016 & Prior	183,217	77,046	155,338
Financing receivable, gross	2,960,427	2,963,500	2,906,774
Retail | Prime | CANADA
Financing Receivable, Allowance for Credit Losses
2021	4,245	18,568	3,968
2020	17,350	14,257	16,479
2019	13,055	10,269	12,389
2018	9,263	6,727	8,441
2017	5,808	3,198	4,549
2016 & Prior	4,178	2,025	3,929
Financing receivable, gross	53,899	55,044	49,755
Retail | Sub-prime | UNITED STATES
Financing Receivable, Allowance for Credit Losses
2021	130,389	435,875	108,068
2020	395,495	295,403	394,291
2019	263,203	177,598	239,571
2018	156,368	111,163	155,391
2017	96,998	72,556	108,531
2016 & Prior	100,827	52,060	98,124
Financing receivable, gross	1,143,280	1,144,655	1,103,976
Retail | Sub-prime | CANADA
Financing Receivable, Allowance for Credit Losses
2021	601	3,172	768
2020	2,949	2,498	2,827
2019	2,227	1,560	1,919
2018	1,407	1,095	1,348
2017	951	607	921
2016 & Prior	778	365	757
Financing receivable, gross	$ 8,913	$ 9,297	$ 8,540

Finance Receivables - Recorde_2

Finance Receivables - Recorded Investment Of Retail and Wholesale Finance Receivables By Credit Quality Indicator (Details) - USD ($) $ in Thousands	Mar. 28, 2021	Dec. 31, 2020	Mar. 29, 2020
Financing Receivable, Recorded Investment
Total	$ 7,103,010	$ 6,833,944	$ 7,627,903
Wholesale
Financing Receivable, Recorded Investment
2021	600,711	391,151	677,536
2020	124,228	72,048	606,317
2019	45,293	13,443	51,863
2018	12,585	7,887	11,315
2017	6,392	2,297	6,348
2016 & Prior	2,819	2,923	5,277
Total	792,028	489,749	1,358,656
Wholesale | Non-Performing
Financing Receivable, Recorded Investment
2021	0	0	0
2020	0	0	2,376
2019	0	0	1,774
2018	0	0	107
2017	0	0	25
2016 & Prior	0	0	43
Total	0	0	4,325
Wholesale | Doubtful
Financing Receivable, Recorded Investment
2021	0	0	478
2020	0	0	4,169
2019	0	0	529
2018	0	0	51
2017	0	0	0
2016 & Prior	0	0	726
Total	0	0	5,953
Wholesale | Substandard
Financing Receivable, Recorded Investment
2021	0	0	5,375
2020	0	0	6,374
2019	0	0	391
2018	0	0	131
2017	0	0	0
2016 & Prior	0	0	0
Total	0	0	12,271
Wholesale | Special Mention
Financing Receivable, Recorded Investment
2021	567	658	5,239
2020	530	365	8,001
2019	262	31	977
2018	17	0	6
2017	0	0	0
2016 & Prior	0	0	1,268
Total	1,376	1,054	15,491
Wholesale | Medium Risk
Financing Receivable, Recorded Investment
2021	0	1,925	8,307
2020	728	242	10,996
2019	417	0	1,091
2018	0	0	23
2017	0	0	0
2016 & Prior	0	0	826
Total	1,145	2,167	21,243
Wholesale | Low Risk
Financing Receivable, Recorded Investment
2021	600,144	388,568	658,137
2020	122,970	71,441	574,401
2019	44,614	13,412	47,101
2018	12,568	7,887	10,997
2017	6,392	2,297	6,323
2016 & Prior	2,819	2,923	2,414
Total	$ 789,507	$ 486,528	$ 1,299,373

Finance Receivables - Additiona

Finance Receivables - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Retail
Accounts, Notes, Loans and Financing Receivable
Reversal of accrued interest against interest income	$ 5.2	$ 6.4
Wholesale
Accounts, Notes, Loans and Financing Receivable
Finance receivables, gross, 90 days or more past due and accruing interest		$ 2.6

Finance Receivables - Informati

Finance Receivables - Information Related to Wholesale Finance Receivables on Non-Accrual Status (Details) $ in Thousands	3 Months Ended
	Mar. 29, 2020USD ($)
Receivables [Abstract]
Impaired financing receivable, no related allowance recorded, beginning of period	$ 0
Impaired financing receivable, no related allowance recorded, end of period	0
Impaired financing receivable, related allowance recorded, beginning of period	4,994
Impaired financing receivable, related allowance recorded, end of period	4,325
Impaired financing receivable, related allowance, beginning of period	4,994
Impaired financing receivable, related allowance recorded, end of period	4,325
No related allowance recorded, Interest Income Recognized	0
Related allowance recorded, Interest Income Recognized	0
Interest Income Recognized, total	$ 0

Finance Receivables - Aging Of

Finance Receivables - Aging Of Past Due Finance Receivables Including Non Accrual Status Finance Receivables (Details) - USD ($) $ in Thousands	Mar. 28, 2021	Dec. 31, 2020	Mar. 29, 2020
Financing Receivable, Recorded Investment, Past Due
Financing receivable, past due	$ 114,839	$ 180,019	$ 184,500
Total	7,103,010	6,833,944	7,627,903
Current
Financing Receivable, Recorded Investment, Past Due
Financing receivable, not past due	6,988,171	6,653,925	7,443,403
31-60 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Financing receivable, past due	69,160	106,984	103,463
61-90 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Financing receivable, past due	23,442	39,956	39,253
Greater than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Financing receivable, past due	22,237	33,079	41,784
Retail
Financing Receivable, Recorded Investment, Past Due
Financing receivable, past due	114,637	179,826	177,928
Total	6,310,982	6,344,195	6,269,247
Retail | Current
Financing Receivable, Recorded Investment, Past Due
Financing receivable, not past due	6,196,345	6,164,369	6,091,319
Retail | 31-60 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Financing receivable, past due	69,032	106,818	101,412
Retail | 61-90 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Financing receivable, past due	23,420	39,933	37,816
Retail | Greater than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Financing receivable, past due	22,185	33,075	38,700
Wholesale
Financing Receivable, Recorded Investment, Past Due
Financing receivable, past due	202	193	6,572
Total	792,028	489,749	1,358,656
Wholesale | Current
Financing Receivable, Recorded Investment, Past Due
Financing receivable, not past due	791,826	489,556	1,352,084
Wholesale | 31-60 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Financing receivable, past due	128	166	2,051
Wholesale | 61-90 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Financing receivable, past due	22	23	1,437
Wholesale | Greater than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Financing receivable, past due	$ 52	$ 4	$ 3,084

Derivative Financial Instrume_3

Derivative Financial Instruments and Hedging Activities - Derivative Instrument Fair Value (Details) - USD ($) $ in Thousands	Mar. 28, 2021	Dec. 31, 2020	Mar. 29, 2020
Designated as Hedging Instrument | Cash Flow Hedging
Derivatives, Fair Value
Notional Value	$ 1,770,942	$ 2,352,056	$ 1,976,015
Designated as Hedging Instrument | Cash Flow Hedging | Other Current Assets
Derivatives, Fair Value
Other Current Assets	79,808	138,633	12,108
Designated as Hedging Instrument | Cash Flow Hedging | Accrued Liabilities
Derivatives, Fair Value
Accrued Liabilities	6,091	25,065	53,330
Designated as Hedging Instrument | Cash Flow Hedging | Foreign currency contracts
Derivatives, Fair Value
Notional Value	402,814	533,925	414,753
Designated as Hedging Instrument | Cash Flow Hedging | Foreign currency contracts | Other Current Assets
Derivatives, Fair Value
Other Current Assets	6,356	11	12,108
Designated as Hedging Instrument | Cash Flow Hedging | Foreign currency contracts | Accrued Liabilities
Derivatives, Fair Value
Accrued Liabilities	6,071	21,927	575
Designated as Hedging Instrument | Cash Flow Hedging | Commodity contracts
Derivatives, Fair Value
Notional Value	668	671	482
Designated as Hedging Instrument | Cash Flow Hedging | Commodity contracts | Other Current Assets
Derivatives, Fair Value
Other Current Assets	3	0	0
Designated as Hedging Instrument | Cash Flow Hedging | Commodity contracts | Accrued Liabilities
Derivatives, Fair Value
Accrued Liabilities	20	52	74
Designated as Hedging Instrument | Cash Flow Hedging | Cross-currency swaps
Derivatives, Fair Value
Notional Value	1,367,460	1,367,460	660,780
Designated as Hedging Instrument | Cash Flow Hedging | Cross-currency swaps | Other Current Assets
Derivatives, Fair Value
Other Current Assets	73,449	138,622	0
Designated as Hedging Instrument | Cash Flow Hedging | Cross-currency swaps | Accrued Liabilities
Derivatives, Fair Value
Accrued Liabilities	0	0	41,283
Designated as Hedging Instrument | Cash Flow Hedging | Interest rate swaps
Derivatives, Fair Value
Notional Value	0	450,000	900,000
Designated as Hedging Instrument | Cash Flow Hedging | Interest rate swaps | Other Current Assets
Derivatives, Fair Value
Other Current Assets	0	0	0
Designated as Hedging Instrument | Cash Flow Hedging | Interest rate swaps | Accrued Liabilities
Derivatives, Fair Value
Accrued Liabilities	0	3,086	11,398
Not Designated as Hedging Instrument
Derivatives, Fair Value
Notional Value	1,067,182	1,230,358	517,387
Not Designated as Hedging Instrument | Other Current Assets
Derivatives, Fair Value
Other Current Assets	2,033	1,633	2,575
Not Designated as Hedging Instrument | Accrued Liabilities
Derivatives, Fair Value
Accrued Liabilities	635	456	3,646
Not Designated as Hedging Instrument | Foreign currency contracts
Derivatives, Fair Value
Notional Value	214,337	245,494	182,642
Not Designated as Hedging Instrument | Foreign currency contracts | Other Current Assets
Derivatives, Fair Value
Other Current Assets	670	737	2,573
Not Designated as Hedging Instrument | Foreign currency contracts | Accrued Liabilities
Derivatives, Fair Value
Accrued Liabilities	595	435	2,194
Not Designated as Hedging Instrument | Commodity contracts
Derivatives, Fair Value
Notional Value	8,172	6,806	7,769
Not Designated as Hedging Instrument | Commodity contracts | Other Current Assets
Derivatives, Fair Value
Other Current Assets	1,193	849	0
Not Designated as Hedging Instrument | Commodity contracts | Accrued Liabilities
Derivatives, Fair Value
Accrued Liabilities	40	21	1,452
Not Designated as Hedging Instrument | Interest rate caps
Derivatives, Fair Value
Notional Value	844,673	978,058	326,976
Not Designated as Hedging Instrument | Interest rate caps | Other Current Assets
Derivatives, Fair Value
Other Current Assets	170	47	2
Not Designated as Hedging Instrument | Interest rate caps | Accrued Liabilities
Derivatives, Fair Value
Accrued Liabilities	$ 0	$ 0	$ 0

Derivative Financial Instrume_4

Derivative Financial Instruments and Hedging Activities - Amount Of Gains And Losses Related To Derivative Financial Instruments (Details) - Designated as Hedging Instrument - Cash Flow Hedging - USD ($) $ in Thousands	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Derivative Instruments, Gain (Loss)
Gain/(Loss) Recognized in OCI	$ (50,737)	$ (38,172)
Gain/(Loss) Reclassified from AOCL into Income	(73,586)	(12,881)
Foreign currency contracts
Derivative Instruments, Gain (Loss)
Gain/(Loss) Recognized in OCI	14,037	16,899
Gain/(Loss) Reclassified from AOCL into Income	(4,953)	3,400
Commodity contracts
Derivative Instruments, Gain (Loss)
Gain/(Loss) Recognized in OCI	3	(129)
Gain/(Loss) Reclassified from AOCL into Income	(32)	(135)
Cross-currency swaps
Derivative Instruments, Gain (Loss)
Gain/(Loss) Recognized in OCI	(65,174)	(49,609)
Gain/(Loss) Reclassified from AOCL into Income	(65,788)	(12,906)
Treasury rate lock contracts
Derivative Instruments, Gain (Loss)
Gain/(Loss) Recognized in OCI	0	0
Gain/(Loss) Reclassified from AOCL into Income	(124)	(124)
Interest rate swaps
Derivative Instruments, Gain (Loss)
Gain/(Loss) Recognized in OCI	397	(5,333)
Gain/(Loss) Reclassified from AOCL into Income	$ (2,689)	$ (3,116)

Derivative Financial Instrume_5

Derivative Financial Instruments and Hedging Activities - Amount Of Gains And Losses Recognized In Income Related To Derivative Financial Instruments (Details) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Derivative
Motorcycles and Related Products cost of goods sold	$ 811,622	$ 780,868
Selling, administrative and engineering expense	231,844	277,971
Interest expense	7,708	7,755
Financial Services interest expense	55,707	52,473
Expected to be reclassified over the next twelve months	(17,100)
Cash Flow Hedging | Designated as Hedging Instrument
Derivative
Gain/(Loss) Reclassified from AOCL into Income	(73,586)	(12,881)
Cash Flow Hedging | Designated as Hedging Instrument | Foreign currency contracts
Derivative
Gain/(Loss) Reclassified from AOCL into Income	(4,953)	3,400
Cash Flow Hedging | Designated as Hedging Instrument | Foreign currency contracts | Motorcycle, Cost of Goods Sold
Derivative
Gain/(Loss) Reclassified from AOCL into Income	(4,953)	3,400
Cash Flow Hedging | Designated as Hedging Instrument | Commodity contracts
Derivative
Gain/(Loss) Reclassified from AOCL into Income	(32)	(135)
Cash Flow Hedging | Designated as Hedging Instrument | Commodity contracts | Motorcycle, Cost of Goods Sold
Derivative
Gain/(Loss) Reclassified from AOCL into Income	(32)	(135)
Cash Flow Hedging | Designated as Hedging Instrument | Cross-currency swaps
Derivative
Gain/(Loss) Reclassified from AOCL into Income	(65,788)	(12,906)
Cash Flow Hedging | Designated as Hedging Instrument | Cross-currency swaps | Selling, General and Administrative Expenses
Derivative
Gain/(Loss) Reclassified from AOCL into Income	(65,788)	(12,906)
Cash Flow Hedging | Designated as Hedging Instrument | Treasury rate lock contracts
Derivative
Gain/(Loss) Reclassified from AOCL into Income	(124)	(124)
Cash Flow Hedging | Designated as Hedging Instrument | Treasury rate lock contracts | Interest Expense
Derivative
Gain/(Loss) Reclassified from AOCL into Income	(91)	(91)
Cash Flow Hedging | Designated as Hedging Instrument | Treasury rate lock contracts | Financial Services interest expense
Derivative
Gain/(Loss) Reclassified from AOCL into Income	(33)	(33)
Cash Flow Hedging | Designated as Hedging Instrument | Interest rate swaps
Derivative
Gain/(Loss) Reclassified from AOCL into Income	(2,689)	(3,116)
Cash Flow Hedging | Designated as Hedging Instrument | Interest rate swaps | Financial Services interest expense
Derivative
Gain/(Loss) Reclassified from AOCL into Income	$ (2,689)	$ (3,116)

Derivative Financial Instrume_6

Derivative Financial Instruments and Hedging Activities - Gain Loss Recognized In Income On Hedged Derivatives (Details) - Not Designated as Hedging Instrument - USD ($) $ in Thousands	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Derivative
Amount of Gain/(Loss) Recognized in Income	$ (2,803)	$ 643
Foreign currency contracts | Cost of Sales
Derivative
Amount of Gain/(Loss) Recognized in Income	(3,629)	2,194
Commodity contracts | Cost of Sales
Derivative
Amount of Gain/(Loss) Recognized in Income	703	(1,551)
Interest rate caps | Interest Expense
Derivative
Amount of Gain/(Loss) Recognized in Income	$ 123	$ 0

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Lessee, Lease, Description [Line Items]
Renewal term	5 years
Termination period	1 year
Operating lease expense	$ 8.2	$ 7.3
Variable lease cost	$ 3.1	$ 1.9
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease terms	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease terms	11 years

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Mar. 28, 2021	Dec. 31, 2020	Mar. 29, 2020
Assets
Lease assets	$ 44,765	$ 45,203	$ 56,496
Liabilities
Accrued liabilities	17,021	17,081	17,939
Lease liabilities	30,061	30,115	40,053
Lease liability	$ 47,082	$ 47,196	$ 57,992
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:AccountsPayableAndAccruedLiabilitiesCurrent	us-gaap:AccountsPayableAndAccruedLiabilitiesCurrent	us-gaap:AccountsPayableAndAccruedLiabilitiesCurrent

Leases - Future Maturities of L

Leases - Future Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Mar. 28, 2021	Dec. 31, 2020	Mar. 29, 2020
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2021	$ 13,805
2022	14,466
2023	6,511
2024	4,518
2025	6,816
Thereafter	3,677
Future lease payments	49,793
Present value discount	(2,711)
Lease liabilities	$ 47,082	$ 47,196	$ 57,992

Leases - Other Lease Informatio

Leases - Other Lease Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020	Dec. 31, 2020
Leases [Abstract]
Cash outflows for amounts included in the measurement of lease liabilities	$ 4,947	$ 5,378
ROU assets obtained in exchange for lease obligations, net of modifications	$ 5,305	$ 557
Weighted average remaining lease term	3 years 9 months 21 days	4 years 2 months 12 days	3 years 9 months 10 days
Weighted-average discount rate	2.90%	3.30%	3.10%

Debt - Debt With Contractual Te

Debt - Debt With Contractual Term Less Than One Year (Details) - USD ($) $ in Thousands	Mar. 28, 2021	Dec. 31, 2020	Mar. 29, 2020
Short-term Debt
Short-term debt	$ 765,263	$ 1,014,274	$ 1,335,664
Unsecured commercial paper
Short-term Debt
Short-term debt	749,801	1,014,274	1,335,664
Global credit facility borrowings
Short-term Debt
Short-term debt	$ 15,462	$ 0	$ 0

Debt - Debt With A Contractual

Debt - Debt With A Contractual Term Greater Than One Year (Details) $ in Thousands	Mar. 28, 2021USD ($)	Mar. 28, 2021EUR (€)	Dec. 31, 2020USD ($)	Dec. 31, 2020EUR (€)	Mar. 29, 2020USD ($)	Mar. 29, 2020EUR (€)
Debt Instrument
Long-term debt	$ 7,100,334		$ 7,972,530		$ 6,804,538
Current portion of long-term debt, net	(1,622,243)		(2,039,597)		(2,326,460)
Long-term debt, net	5,478,091		5,932,933		4,478,078
Secured Debt
Debt Instrument
Less: unamortized discount and debt issuance costs	(9,788)		(8,437)		(4,202)
Long-term debt	2,552,449		2,310,839		1,912,088
Secured Debt | Asset-backed Canadian commercial paper conduit facility
Debt Instrument
Long-term debt, gross	102,543		116,678		155,243
Secured Debt | Asset-backed U.S. commercial paper conduit facilities
Debt Instrument
Long-term debt, gross	350,648		402,205		600,000
Secured Debt | Asset-backed securitization debt
Debt Instrument
Long-term debt, gross	2,109,046		1,800,393		1,161,047
Medium-term notes
Debt Instrument
Long-term debt, gross	3,803,736		4,917,714		4,148,984
Less: unamortized discount and debt issuance costs	$ (13,564)		(15,374)		(11,046)
Medium-term notes | Due in 2020, issued May 2018
Debt Instrument
Debt instrument, stated percentage	0.50%	0.50%
Long-term debt, gross	$ 0		0		450,000
Medium-term notes | Due in 2020, issued March 2017
Debt Instrument
Debt instrument, stated percentage	2.40%	2.40%
Long-term debt, gross	$ 0		0		350,000
Medium-term notes | Due in 2021, issued January 2016
Debt Instrument
Debt instrument, stated percentage	2.85%	2.85%
Long-term debt, gross	$ 0		600,000		600,000
Medium-term notes | Due in 2021, issued November 2018
Debt Instrument
Debt instrument, stated percentage	0.94%	0.94%
Long-term debt, gross	$ 0		450,000		450,000
Medium-term notes | Due in 2021, issued May 2018
Debt Instrument
Debt instrument, stated percentage	3.55%	3.55%
Long-term debt, gross	$ 350,000		350,000		350,000
Medium-term notes | Due in 2022, issued February 2019
Debt Instrument
Debt instrument, stated percentage	4.05%	4.05%
Long-term debt, gross	$ 550,000		550,000		550,000
Medium-term notes | Due in 2022, issued June 2017
Debt Instrument
Debt instrument, stated percentage	2.55%	2.55%
Long-term debt, gross	$ 400,000		400,000		400,000
Medium-term notes | Due in 2023, issued February 2018
Debt Instrument
Debt instrument, stated percentage	3.35%	3.35%
Long-term debt, gross	$ 350,000		350,000		350,000
Medium-term notes | Due in 2023, issued May 2020
Debt Instrument
Debt instrument, stated percentage	4.94%	4.94%
Long-term debt, gross	$ 762,996	€ 650,000,000	797,206	€ 650,000,000	0
Medium-term notes | Due in 2024, issued November 2019
Debt Instrument
Debt instrument, stated percentage	3.14%	3.14%
Long-term debt, gross	$ 704,304	€ 600,000,000	735,882	€ 600,000,000	660,030	€ 600,000,000
Medium-term notes | Due in 2025, issued June 2020
Debt Instrument
Debt instrument, stated percentage	3.35%	3.35%
Long-term debt, gross	$ 700,000		700,000		0
Senior notes
Debt Instrument
Less: unamortized discount and debt issuance costs	(5,851)		(6,023)		(6,534)
Long-term debt	$ 744,149		743,977		743,466
Senior notes | Due in 2025, issued July 2015
Debt Instrument
Debt instrument, stated percentage	3.50%	3.50%
Long-term debt, gross	$ 450,000		450,000		450,000
Senior notes | Due in 2045, issued July 2015
Debt Instrument
Debt instrument, stated percentage	4.625%	4.625%
Long-term debt, gross	$ 300,000		300,000		300,000
Unsecured Debt
Debt Instrument
Long-term debt	$ 4,547,885		$ 5,661,691		$ 4,892,450

Debt - Schedule of Maturities o

Debt - Schedule of Maturities of Long-term debt (Details) $ in Thousands	Mar. 28, 2021USD ($)
Debt Disclosure [Abstract]
2021	$ 1,670,913
2022	1,685,613
2023	1,829,349
2024	1,120,828
2025	1,287,560
Thereafter	300,537
Total future payments	$ 7,894,800

Asset-Backed Financing - Assets

Asset-Backed Financing - Assets And Liabilities Of Variable Interest Entities (Details) - USD ($) $ in Thousands	Mar. 28, 2021	Dec. 31, 2020	Apr. 30, 2020	Mar. 29, 2020
Unconsolidated VIEs
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings
Transfers accounts for as secured borrowings, assets, carrying amount			$ 27,400
Finance receivables
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings
Transfers accounts for as secured borrowings, assets, carrying amount	$ 2,942,458	$ 2,704,750		$ 2,095,120
Transfers accounted for as secured borrowings, assets, allowance for credit losses, carrying amount	(150,873)	(156,928)		(101,702)
Finance receivables | Asset-backed securitizations | Consolidated VIEs
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings
Transfers accounts for as secured borrowings, assets, carrying amount	2,448,681	2,129,372		1,250,382
Transfers accounted for as secured borrowings, assets, allowance for credit losses, carrying amount	(126,053)	(124,627)		(62,159)
Finance receivables | Asset-backed U.S. commercial paper conduit facility | Consolidated VIEs
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings
Transfers accounts for as secured borrowings, assets, carrying amount	378,035	441,402		662,385
Transfers accounted for as secured borrowings, assets, allowance for credit losses, carrying amount	(19,432)	(25,793)		(32,872)
Finance receivables | Asset-backed Canadian commercial paper conduit facility | Unconsolidated VIEs
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings
Transfers accounts for as secured borrowings, assets, carrying amount	115,742	133,976		182,353
Transfers accounted for as secured borrowings, assets, allowance for credit losses, carrying amount	(5,388)	(6,508)		(6,671)
Restricted cash
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings
Transfers accounts for as secured borrowings, assets, carrying amount	206,689	151,965		109,787
Restricted cash | Asset-backed securitizations | Consolidated VIEs
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings
Transfers accounts for as secured borrowings, assets, carrying amount	166,694	116,268		61,945
Restricted cash | Asset-backed U.S. commercial paper conduit facility | Consolidated VIEs
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings
Transfers accounts for as secured borrowings, assets, carrying amount	30,252	26,624		37,290
Restricted cash | Asset-backed Canadian commercial paper conduit facility | Unconsolidated VIEs
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings
Transfers accounts for as secured borrowings, assets, carrying amount	9,743	9,073		10,552
Other assets
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings
Transfers accounts for as secured borrowings, assets, carrying amount	4,233	3,879		2,410
Other assets | Asset-backed securitizations | Consolidated VIEs
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings
Transfers accounts for as secured borrowings, assets, carrying amount	2,852	2,622		852
Other assets | Asset-backed U.S. commercial paper conduit facility | Consolidated VIEs
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings
Transfers accounts for as secured borrowings, assets, carrying amount	1,175	1,131		1,410
Other assets | Asset-backed Canadian commercial paper conduit facility | Unconsolidated VIEs
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings
Transfers accounts for as secured borrowings, assets, carrying amount	206	126		148
Total assets
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings
Transfers accounts for as secured borrowings, assets, carrying amount	3,002,507	2,703,666		2,105,615
Total assets | Asset-backed securitizations | Consolidated VIEs
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings
Transfers accounts for as secured borrowings, assets, carrying amount	2,492,174	2,123,635		1,251,020
Total assets | Asset-backed U.S. commercial paper conduit facility | Consolidated VIEs
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings
Transfers accounts for as secured borrowings, assets, carrying amount	390,030	443,364		668,213
Total assets | Asset-backed Canadian commercial paper conduit facility | Unconsolidated VIEs
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings
Transfers accounts for as secured borrowings, assets, carrying amount	120,303	136,667		186,382
Asset-backed debt
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings
Transfers accounts for as secured borrowings, associated liabilities, carrying amount	2,552,449	2,310,839		1,912,088
Asset-backed debt | Asset-backed securitizations | Consolidated VIEs
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings
Transfers accounts for as secured borrowings, associated liabilities, carrying amount	2,099,258	1,791,956		1,156,845
Asset-backed debt | Asset-backed U.S. commercial paper conduit facility | Consolidated VIEs
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings
Transfers accounts for as secured borrowings, associated liabilities, carrying amount	350,648	402,205		600,000
Asset-backed debt | Asset-backed Canadian commercial paper conduit facility | Unconsolidated VIEs
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings
Transfers accounts for as secured borrowings, associated liabilities, carrying amount	$ 102,543	$ 116,678		$ 155,243

Asset-Backed Financing - Additi

Asset-Backed Financing - Additional Information (Details)	3 Months Ended
	Mar. 28, 2021USD ($)	Mar. 29, 2020USD ($)	Jun. 26, 2016USD ($)	Mar. 28, 2021CAD ($)	Dec. 31, 2020USD ($)	Nov. 25, 2020USD ($)	Apr. 30, 2020USD ($)	Nov. 30, 2018USD ($)
Variable Interest Entity
Proceeds from securitization debt	$ 597,411,000	$ 522,694,000
Servicing and ancillary fees		100,000
Current unpaid balance - Off-balance sheet retail motorcycle finance receivables		27,400,000
Delinquent unpaid balance - Off-balance sheet serviced retail motorcycle finance receivables		700,000
Credit losses, net of recoveries - Off-balance sheet serviced retail motorcycle finance receivables		10,000
Unconsolidated VIEs
Variable Interest Entity
Principal balance of finance receivable			$ 301,800,000
Gain on sale of finance receivable			9,300,000
Cash proceeds from sale of financial asset			$ 312,600,000
Off-balance sheet asset-backed securitization VIE repurchase							$ 27,400,000
Asset-backed securitization 1 | U.S. Line of Credit
Variable Interest Entity
Amount transferred to receivables		580,200,000
Transfers on finance receivables	663,100,000
Secured Debt | Asset-backed U.S. commercial paper conduit facility VIE, facility one | Consolidated VIEs | U.S. Line of Credit
Variable Interest Entity
Line of credit, maximum borrowing capacity						$ 600,000,000		$ 300,000,000
Secured Debt | Asset-backed U.S. commercial paper conduit facility VIE, facility two | Consolidated VIEs | U.S. Line of Credit
Variable Interest Entity
Line of credit, maximum borrowing capacity						300,000,000
Secured Debt | Asset-backed U.S. commercial paper conduit facilities | Consolidated VIEs | U.S. Line of Credit
Variable Interest Entity
Amount transferred to receivables	0	195,300,000
Proceeds from transfer of finance receivables	600,000,000	163,600,000
Proceeds from transfer of finance receivables, net of discount and issuance costs	$ 597,400,000	522,700,000
Length of option	4 years
Secured Debt | Asset-backed Canadian commercial paper conduit facility | Unconsolidated VIEs | Global credit facility borrowings
Variable Interest Entity
Amount transferred to receivables	$ 0	77,900,000
Proceeds from transfer of finance receivables		61,600,000
Line of credit, maximum borrowing capacity				$ 220,000,000
Length of option	4 years
VIE, maximum loss exposure, amount	$ 17,800,000
Secured Debt | Asset-backed securitization 2 | Consolidated VIEs | Asset-backed Securities, Securitized Loans and Receivables
Variable Interest Entity
Proceeds from securitization debt	$ 0	$ 0
Secured Debt | Asset-Backed U.S. Commercial Paper Conduit Facility VIE, Combined Facilities | Consolidated VIEs | U.S. Line of Credit
Variable Interest Entity
Line of credit, maximum borrowing capacity						900,000,000
Line of credit facility, remaining borrowing capacity						$ 300,000,000
Secured Debt | Asset-backed securitization 1 | Consolidated VIEs | Asset-backed Securities, Securitized Loans and Receivables
Variable Interest Entity
Secured notes issued					$ 525,000,000

Asset-Backed Financing - Servic

Asset-Backed Financing - Servicing Activities (Details) $ in Thousands	3 Months Ended
	Mar. 29, 2020USD ($)
Transfers and Servicing [Abstract]
Current unpaid balance - Off-balance sheet retail motorcycle finance receivables	$ 27,400
Delinquent unpaid balance - Off-balance sheet serviced retail motorcycle finance receivables	700
Credit losses, net of recoveries - Off-balance sheet serviced retail motorcycle finance receivables	$ 10

Fair Value - Summary of Assets

Fair Value - Summary of Assets And Liabilities Measured at Fair Value (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Mar. 28, 2021	Dec. 31, 2020	Mar. 29, 2020
Assets:
Cash equivalents	$ 2,069,400	$ 3,019,884	$ 1,207,799
Marketable securities	50,239	52,061	44,144
Derivative financial instruments	81,841	140,266	14,683
Assets, fair value	2,201,480	3,212,211	1,266,626
Liabilities:
Derivative financial instruments	6,726	25,521	56,976
Level 1
Assets:
Cash equivalents	1,919,400	2,819,884	1,144,800
Marketable securities	50,239	52,061	44,144
Derivative financial instruments	0	0	0
Assets, fair value	1,969,639	2,871,945	1,188,944
Liabilities:
Derivative financial instruments	0	0	0
Level 2
Assets:
Cash equivalents	150,000	200,000	62,999
Marketable securities	0	0	0
Derivative financial instruments	81,841	140,266	14,683
Assets, fair value	231,841	340,266	77,682
Liabilities:
Derivative financial instruments	$ 6,726	$ 25,521	$ 56,976

Fair Value - Additional Informa

Fair Value - Additional Information (Details) - Fair Value, Measurements, Nonrecurring - USD ($) $ in Millions	Mar. 28, 2021	Dec. 31, 2020	Mar. 29, 2020
Fair Value Adjustment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Repossessed inventory	$ 2.4	$ 4.2	$ 10.9
Level 2 | Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Repossessed inventory	$ 18.6	$ 17.7	$ 22.2

Fair Value - Summary of Fair Va

Fair Value - Summary of Fair Value and Carrying Value of Company Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 28, 2021	Dec. 31, 2020	Mar. 29, 2020
Fair Value
ASSETS
Finance receivables, net	$ 6,930,531	$ 6,586,348	$ 7,391,948
Liabilities
Deposits, net	152,715	79,965	0
Fair Value | Medium-term notes
Debt
Long-term debt, fair value	3,955,743	5,118,928	4,013,409
Fair Value | Senior notes
Debt
Long-term debt, fair value	789,967	828,141	685,805
Fair Value | Asset-backed U.S. commercial paper conduit facilities | Secured Debt
Debt
Long-term debt, fair value	350,648	402,205	600,000
Fair Value | Asset-backed Canadian commercial paper conduit facility | Secured Debt
Debt
Long-term debt, fair value	102,543	116,678	155,243
Fair Value | Asset-backed securitization debt | Secured Debt
Debt
Long-term debt, fair value	2,120,855	1,817,892	1,139,076
Fair Value | Unsecured commercial paper
Debt
Unsecured commercial paper	749,801	1,014,274	1,335,664
Fair Value | U.S. Line of Credit
Debt
Unsecured commercial paper	15,462	0	0
Carrying Value
ASSETS
Finance receivables, net	6,756,777	6,443,008	7,292,407
Liabilities
Deposits, net	152,653	79,965	0
Carrying Value | Medium-term notes
Debt
Long-term debt, fair value	3,803,736	4,917,714	4,148,984
Carrying Value | Senior notes
Debt
Long-term debt, fair value	744,149	743,977	743,466
Carrying Value | Asset-backed U.S. commercial paper conduit facilities | Secured Debt
Debt
Long-term debt, fair value	350,648	402,205	600,000
Carrying Value | Asset-backed Canadian commercial paper conduit facility | Secured Debt
Debt
Long-term debt, fair value	102,543	116,678	155,243
Carrying Value | Asset-backed securitization debt | Secured Debt
Debt
Long-term debt, fair value	2,099,258	1,791,956	1,156,845
Carrying Value | Unsecured commercial paper
Debt
Unsecured commercial paper	749,801	1,014,274	1,335,664
Carrying Value | U.S. Line of Credit
Debt
Unsecured commercial paper	$ 15,462	$ 0	$ 0

Product Warranty and Recall C_3

Product Warranty and Recall Campaigns - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 28, 2021	Dec. 31, 2020	Mar. 29, 2020
Product Information
Liability for recall campaigns	$ 25.3	$ 24.7	$ 33.6
Battery For Electric Motorcycles
Product Information
Unlimited warranty period	5 years
Parts & Accessories and General Merchandise
Product Information
Standard product warranty, period	1 year
All Countries, Excluding Japan | Motorcycles
Product Information
Standard product warranty, period	2 years
Japan | Motorcycles
Product Information
Standard product warranty, period	3 years

Product Warranty and Recall C_4

Product Warranty and Recall Campaigns - Warranty and Recall Liability (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance, beginning of period	$ 69,208	$ 89,793
Warranties issued during the period	11,672	11,025
Settlements made during the period	(8,585)	(14,157)
Recalls and changes to pre-existing warranty liabilities	132	(353)
Balance, end of period	$ 72,427	$ 86,308

Employee Benefit Plans - Compon

Employee Benefit Plans - Components Of Net Periodic Benefit Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Pension and SERPA Benefits:
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 6,348	$ 6,806
Interest cost	15,470	19,112
Expected return on plan assets	(32,720)	(33,764)
Amortization of unrecognized: Prior service credit	(312)	(272)
Amortization of unrecognized: Net loss	18,386	16,372
Settlement loss	816	0
Net periodic benefit cost	7,988	8,254
Postretirement Healthcare Benefits:
Defined Benefit Plan Disclosure [Line Items]
Service cost	1,288	1,201
Interest cost	1,626	2,336
Expected return on plan assets	(3,495)	(3,467)
Amortization of unrecognized: Prior service credit	(581)	(595)
Amortization of unrecognized: Net loss	264	123
Net periodic benefit cost	$ (898)	$ (402)

Commitments and Contingencies (

Commitments and Contingencies (Details) - York, Pennsylvania Facility	3 Months Ended
	Mar. 28, 2021
Site Contingency
Site contingency portion of total cost, percentage	47.00%
Navy
Site Contingency
Site contingency portion of total cost, percentage	53.00%

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	$ 1,722,785	$ 1,803,999
Total other comprehensive loss, net of tax	13,780	(42,341)
Balance, end of period	1,976,386	1,691,983
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	(483,417)	(536,949)
Other comprehensive loss, before reclassifications	(67,811)	(73,993)
Income tax benefit (expense)	10,828	9,633
Net other comprehensive income (loss) before reclassifications	(56,983)	(64,360)
Total reclassifications before tax	91,343	28,509
Income tax expense	(20,580)	(6,490)
Net reclassifications	70,763	22,019
Total other comprehensive loss, net of tax	13,780	(42,341)
Balance, end of period	(469,637)	(579,290)
Foreign currency translation adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	(7,589)	(40,813)
Other comprehensive loss, before reclassifications	(17,074)	(35,821)
Income tax benefit (expense)	(264)	1,366
Net other comprehensive income (loss) before reclassifications	(17,338)	(34,455)
Total reclassifications before tax	0	0
Income tax expense	0	0
Net reclassifications	0	0
Total other comprehensive loss, net of tax	(17,338)	(34,455)
Balance, end of period	(24,927)	(75,268)
Derivative financial instruments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	(46,116)	(14,586)
Other comprehensive loss, before reclassifications	(50,737)	(38,172)
Income tax benefit (expense)	11,092	8,267
Net other comprehensive income (loss) before reclassifications	(39,645)	(29,905)
Total reclassifications before tax	73,586	12,881
Income tax expense	(16,411)	(2,821)
Net reclassifications	57,175	10,060
Total other comprehensive loss, net of tax	17,530	(19,845)
Balance, end of period	(28,586)	(34,431)
Pension and postretirement benefit plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	(429,712)	(481,550)
Other comprehensive loss, before reclassifications	0	0
Income tax benefit (expense)	0	0
Net other comprehensive income (loss) before reclassifications	0	0
Total reclassifications before tax	17,757	15,628
Income tax expense	(4,169)	(3,669)
Net reclassifications	13,588	11,959
Total other comprehensive loss, net of tax	13,588	11,959
Balance, end of period	(416,124)	(469,591)
Pension and postretirement benefit plans - Prior service credits
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Total reclassifications before tax	(893)	(867)
Pension and postretirement benefit plans - Actuarial losses
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Total reclassifications before tax	$ 18,650	$ 16,495

Business Segments (Details)

Business Segments (Details) $ in Thousands	3 Months Ended
	Mar. 28, 2021USD ($)segment	Mar. 29, 2020USD ($)	Dec. 31, 2020USD ($)
Segment Reporting [Abstract]
Number of reportable segments | segment	2
Segment Reporting Information
Selling, administrative and engineering expense	$ 231,844	$ 277,971
Restructuring benefit	(366)	0
Motorcycles and Related Products cost of goods sold	811,622	780,868
Operating income	346,174	107,513
Assets	11,338,988	11,139,947	$ 12,010,601
Motorcycles and Related Products
Segment Reporting Information
Motorcycles revenue	1,232,107	1,099,788
Gross profit	420,485	318,920
Selling, administrative and engineering expense	193,546	234,353
Restructuring benefit	(593)	0
Operating income	227,532	84,567
Financial services
Segment Reporting Information
Restructuring benefit	227	0
Financial Services	190,400	198,456
Motorcycles and Related Products cost of goods sold	71,531	175,510
Operating income	118,642	22,946
Motorcycles And Related Products Operations
Segment Reporting Information
Assets	2,400,000	2,500,000	2,500,000
Financial Services Operations
Segment Reporting Information
Assets	$ 8,900,000	$ 8,600,000	$ 9,500,000

Supplemental Consolidating Da_3

Supplemental Consolidating Data - Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Revenue:
Total revenue	$ 1,422,507	$ 1,298,244
Costs and expenses:
Motorcycles and Related Products cost of goods sold	811,622	780,868
Financial Services interest expense	55,707	52,473
Provision for credit losses	(22,474)	79,419
Selling, administrative and engineering expense	231,844	277,971
Restructuring (benefit) expense	(366)	0
Total costs and expenses	1,076,333	1,190,731
Operating income	346,174	107,513
Other income, net	277	155
Investment income (loss)	1,402	(5,347)
Interest expense	7,708	7,755
Income before provision for income taxes	340,145	94,566
Provision for income taxes	81,001	24,871
Net income	259,144	69,695
Reportable Legal Entities | HDMC Entities
Revenue:
Total revenue	1,238,468
Costs and expenses:
Motorcycles and Related Products cost of goods sold	811,622
Financial Services interest expense	0
Provision for credit losses	0
Selling, administrative and engineering expense	196,359
Restructuring (benefit) expense	(593)
Total costs and expenses	1,007,388
Operating income	231,080
Other income, net	277
Investment income (loss)	1,402
Interest expense	7,708
Income before provision for income taxes	225,051
Provision for income taxes	55,996
Net income	169,055
Reportable Legal Entities | HDFS Entities
Revenue:
Total revenue	188,750
Costs and expenses:
Motorcycles and Related Products cost of goods sold	0
Financial Services interest expense	55,707
Provision for credit losses	(22,474)
Selling, administrative and engineering expense	40,275
Restructuring (benefit) expense	227
Total costs and expenses	73,735
Operating income	115,015
Other income, net	0
Investment income (loss)	0
Interest expense	0
Income before provision for income taxes	115,015
Provision for income taxes	25,005
Net income	90,010
Consolidating Adjustments
Revenue:
Total revenue	(4,711)
Costs and expenses:
Motorcycles and Related Products cost of goods sold	0
Financial Services interest expense	0
Provision for credit losses	0
Selling, administrative and engineering expense	(4,790)
Restructuring (benefit) expense	0
Total costs and expenses	(4,790)
Operating income	79
Other income, net	0
Investment income (loss)	0
Interest expense	0
Income before provision for income taxes	79
Provision for income taxes	0
Net income	79
Motorcycles and Related Products
Revenue:
Motorcycles and Related Products	1,232,107	1,099,788
Motorcycles and Related Products | Reportable Legal Entities | HDMC Entities
Revenue:
Motorcycles and Related Products	1,238,468
Motorcycles and Related Products | Reportable Legal Entities | HDFS Entities
Revenue:
Motorcycles and Related Products	0
Motorcycles and Related Products | Consolidating Adjustments
Revenue:
Motorcycles and Related Products	(6,361)
Financial Services
Revenue:
Financial Services	190,400	$ 198,456
Financial Services | Reportable Legal Entities | HDMC Entities
Revenue:
Financial Services	0
Financial Services | Reportable Legal Entities | HDFS Entities
Revenue:
Financial Services	188,750
Financial Services | Consolidating Adjustments
Revenue:
Financial Services	$ 1,650

Supplemental Consolidating Da_4

Supplemental Consolidating Data - Balance Sheet (Details) - USD ($) $ in Thousands	Mar. 28, 2021	Dec. 31, 2020	Mar. 29, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 2,320,645	$ 3,257,203	$ 1,465,061
Accounts receivable, net	216,569	143,082	299,148
Finance receivables, net	1,798,194	1,509,539	2,358,989
Inventories, net	470,997	523,497	610,924
Restricted cash	185,374	131,642	99,903
Other current assets	195,356	280,470	142,357
Total current assets	5,187,135	5,845,433	4,976,382
Finance receivables, net	4,958,583	4,933,469	4,933,418
Property, plant and equipment, net	718,968	743,784	826,845
Pension and postretirement assets	105,910	95,711	64,802
Goodwill	65,157	65,976	64,063
Deferred income taxes	135,387	158,538	127,856
Lease assets	44,765	45,203	56,496
Other long-term assets	123,083	122,487	90,085
Total assets	11,338,988	12,010,601	11,139,947
Current liabilities:
Accounts payable	402,764	290,904	333,411
Accrued liabilities	570,440	557,214	584,535
Short-term deposits, net	93,887	79,965	0
Short-term debt	765,263	1,014,274	1,335,664
Current portion of long-term debt, net	1,622,243	2,039,597	2,326,460
Total current liabilities	3,454,597	3,981,954	4,580,070
Long-term deposits, net	58,766	0	0
Long-term debt, net	5,478,091	5,932,933	4,478,078
Lease liabilities	30,061	30,115	40,053
Pension and postretirement liabilities	103,854	114,206	128,054
Deferred income taxes	8,682	8,607	6,219
Other long-term liabilities	228,551	220,001	215,490
Commitments and contingencies
Shareholders’ equity	1,976,386	1,722,785	1,691,983	$ 1,803,999
Total liabilities and shareholders' equity	11,338,988	$ 12,010,601	$ 11,139,947
Reportable Legal Entities | HDMC Entities
Current assets:
Cash and cash equivalents	607,941
Accounts receivable, net	603,273
Finance receivables, net	0
Inventories, net	470,997
Restricted cash	0
Other current assets	81,559
Total current assets	1,763,770
Finance receivables, net	0
Property, plant and equipment, net	687,086
Pension and postretirement assets	105,910
Goodwill	65,157
Deferred income taxes	56,911
Lease assets	36,559
Other long-term assets	184,876
Total assets	2,900,269
Current liabilities:
Accounts payable	355,722
Accrued liabilities	443,529
Short-term deposits, net	0
Short-term debt	0
Current portion of long-term debt, net	0
Total current liabilities	799,251
Long-term deposits, net	0
Long-term debt, net	744,149
Lease liabilities	22,461
Pension and postretirement liabilities	103,854
Deferred income taxes	7,166
Other long-term liabilities	179,525
Commitments and contingencies
Shareholders’ equity	1,043,863
Total liabilities and shareholders' equity	2,900,269
Reportable Legal Entities | HDFS Entities
Current assets:
Cash and cash equivalents	1,712,704
Accounts receivable, net	0
Finance receivables, net	1,798,194
Inventories, net	0
Restricted cash	185,374
Other current assets	113,797
Total current assets	3,810,069
Finance receivables, net	4,958,583
Property, plant and equipment, net	31,882
Pension and postretirement assets	0
Goodwill	0
Deferred income taxes	79,206
Lease assets	8,206
Other long-term assets	33,929
Total assets	8,921,875
Current liabilities:
Accounts payable	433,746
Accrued liabilities	125,768
Short-term deposits, net	93,887
Short-term debt	765,263
Current portion of long-term debt, net	1,622,243
Total current liabilities	3,040,907
Long-term deposits, net	58,766
Long-term debt, net	4,733,942
Lease liabilities	7,600
Pension and postretirement liabilities	0
Deferred income taxes	1,516
Other long-term liabilities	46,920
Commitments and contingencies
Shareholders’ equity	1,032,224
Total liabilities and shareholders' equity	8,921,875
Consolidating Adjustments
Current assets:
Cash and cash equivalents	0
Accounts receivable, net	(386,704)
Finance receivables, net	0
Inventories, net	0
Restricted cash	0
Other current assets	0
Total current assets	(386,704)
Finance receivables, net	0
Property, plant and equipment, net	0
Pension and postretirement assets	0
Goodwill	0
Deferred income taxes	(730)
Lease assets	0
Other long-term assets	(95,722)
Total assets	(483,156)
Current liabilities:
Accounts payable	(386,704)
Accrued liabilities	1,143
Short-term deposits, net	0
Short-term debt	0
Current portion of long-term debt, net	0
Total current liabilities	(385,561)
Long-term deposits, net	0
Long-term debt, net	0
Lease liabilities	0
Pension and postretirement liabilities	0
Deferred income taxes	0
Other long-term liabilities	2,106
Commitments and contingencies
Shareholders’ equity	(99,701)
Total liabilities and shareholders' equity	$ (483,156)

Supplemental Consolidating Da_5

Supplemental Consolidating Data - Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Cash flows from operating activities:
Net income	$ 259,144	$ 69,695
Adjustments to reconcile Net income to Net cash provided (used) by operating activities:
Depreciation and amortization	40,221	47,427
Amortization of deferred loan origination costs	19,200	16,739
Amortization of financing origination fees	3,614	2,999
Provision for long-term employee benefits	7,090	7,852
Employee benefit plan contributions and payments	(9,885)	(1,608)
Stock compensation expense	8,968	3,896
Net change in wholesale finance receivables related to sales	(308,532)	(208,183)
Provision for credit losses	(22,474)	79,419
Deferred income taxes	13,192	(3,803)
Other, net	1,171	3,579
Changes in current assets and liabilities:
Accounts receivable, net	(79,012)	(47,272)
Finance receivables – accrued interest and other	8,947	4,007
Inventories, net	45,086	(23,943)
Accounts payable and accrued liabilities	153,597	10,562
Derivative financial instruments	(3,309)	2,812
Other	25,763	27,240
Total adjustments	(96,363)	(78,277)
Net cash provided (used) by operating activities	162,781	(8,582)
Cash flows from investing activities:
Capital expenditures	(18,813)	(32,928)
Origination of finance receivables	(909,138)	(780,061)
Collections on finance receivables	900,485	841,261
Other investing activities	733	16
Net cash (used) provided by investing activities	(26,733)	28,288
Cash flows from financing activities:
Repayments of medium-term notes	(1,050,000)	(600,000)
Proceeds from securitization debt	597,411	522,694
Repayments of securitization debt	(291,346)	(130,918)
Repayments of asset-backed commercial paper	(66,894)	(67,809)
Net decrease in unsecured commercial paper	(262,517)	772,208
Net increase in credit facilities	15,629	0
Net increase in deposits	72,664	0
Dividends paid	(23,105)	(58,817)
Repurchase of common stock	(5,646)	(7,071)
Issuance of common stock under share-based plans	1,085	34
Net cash (used) provided by financing activities	(1,012,719)	655,508
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(5,163)	(5,732)
Cash, cash equivalents and restricted cash:
Cash, cash equivalents and restricted cash, beginning of period	3,409,168	905,366
Net (decrease) increase in cash, cash equivalents and restricted cash	(881,834)	669,482
Cash, cash equivalents and restricted cash, end of period	2,527,334	$ 1,574,848
HDMC Entities
Cash flows from financing activities:
Proceeds from securitization debt	0
HDFS Entities
Cash flows from financing activities:
Proceeds from securitization debt	597,411
Reportable Legal Entities | HDMC Entities
Cash flows from operating activities:
Net income	169,055
Adjustments to reconcile Net income to Net cash provided (used) by operating activities:
Depreciation and amortization	37,778
Amortization of deferred loan origination costs	0
Amortization of financing origination fees	172
Provision for long-term employee benefits	7,090
Employee benefit plan contributions and payments	(9,885)
Stock compensation expense	8,174
Net change in wholesale finance receivables related to sales	0
Provision for credit losses	0
Deferred income taxes	3,811
Other, net	476
Changes in current assets and liabilities:
Accounts receivable, net	(388,688)
Finance receivables – accrued interest and other	0
Inventories, net	45,086
Accounts payable and accrued liabilities	104,486
Derivative financial instruments	(3,219)
Other	18,222
Total adjustments	(176,497)
Net cash provided (used) by operating activities	(7,442)
Cash flows from investing activities:
Capital expenditures	(18,427)
Origination of finance receivables	0
Collections on finance receivables	0
Other investing activities	733
Net cash (used) provided by investing activities	(17,694)
Cash flows from financing activities:
Repayments of medium-term notes	0
Repayments of securitization debt	0
Repayments of asset-backed commercial paper	0
Net decrease in unsecured commercial paper	0
Net increase in credit facilities	0
Net increase in deposits	0
Dividends paid	(23,105)
Repurchase of common stock	(5,646)
Issuance of common stock under share-based plans	1,085
Net cash (used) provided by financing activities	(27,666)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(5,418)
Cash, cash equivalents and restricted cash:
Cash, cash equivalents and restricted cash, beginning of period	666,161
Net (decrease) increase in cash, cash equivalents and restricted cash	(58,220)
Cash, cash equivalents and restricted cash, end of period	607,941
Reportable Legal Entities | HDFS Entities
Cash flows from operating activities:
Net income	90,010
Adjustments to reconcile Net income to Net cash provided (used) by operating activities:
Depreciation and amortization	2,443
Amortization of deferred loan origination costs	19,200
Amortization of financing origination fees	3,442
Provision for long-term employee benefits	0
Employee benefit plan contributions and payments	0
Stock compensation expense	794
Net change in wholesale finance receivables related to sales	0
Provision for credit losses	(22,474)
Deferred income taxes	9,812
Other, net	775
Changes in current assets and liabilities:
Accounts receivable, net	0
Finance receivables – accrued interest and other	8,947
Inventories, net	0
Accounts payable and accrued liabilities	354,507
Derivative financial instruments	(90)
Other	11,271
Total adjustments	388,627
Net cash provided (used) by operating activities	478,637
Cash flows from investing activities:
Capital expenditures	(386)
Origination of finance receivables	(1,923,911)
Collections on finance receivables	1,606,844
Other investing activities	0
Net cash (used) provided by investing activities	(317,453)
Cash flows from financing activities:
Repayments of medium-term notes	(1,050,000)
Repayments of securitization debt	(291,346)
Repayments of asset-backed commercial paper	(66,894)
Net decrease in unsecured commercial paper	(262,517)
Net increase in credit facilities	15,629
Net increase in deposits	72,664
Dividends paid	0
Repurchase of common stock	0
Issuance of common stock under share-based plans	0
Net cash (used) provided by financing activities	(985,053)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	255
Cash, cash equivalents and restricted cash:
Cash, cash equivalents and restricted cash, beginning of period	2,743,007
Net (decrease) increase in cash, cash equivalents and restricted cash	(823,614)
Cash, cash equivalents and restricted cash, end of period	1,919,393
Consolidating Adjustments
Cash flows from operating activities:
Net income	79
Adjustments to reconcile Net income to Net cash provided (used) by operating activities:
Depreciation and amortization	0
Amortization of deferred loan origination costs	0
Amortization of financing origination fees	0
Provision for long-term employee benefits	0
Employee benefit plan contributions and payments	0
Stock compensation expense	0
Net change in wholesale finance receivables related to sales	(308,532)
Provision for credit losses	0
Deferred income taxes	(431)
Other, net	(80)
Changes in current assets and liabilities:
Accounts receivable, net	309,676
Finance receivables – accrued interest and other	0
Inventories, net	0
Accounts payable and accrued liabilities	(305,396)
Derivative financial instruments	0
Other	(3,730)
Total adjustments	(308,493)
Net cash provided (used) by operating activities	(308,414)
Cash flows from investing activities:
Capital expenditures	0
Origination of finance receivables	1,014,773
Collections on finance receivables	(706,359)
Other investing activities	0
Net cash (used) provided by investing activities	308,414
Cash flows from financing activities:
Repayments of medium-term notes	0
Proceeds from securitization debt	0
Repayments of securitization debt	0
Repayments of asset-backed commercial paper	0
Net decrease in unsecured commercial paper	0
Net increase in credit facilities	0
Net increase in deposits	0
Dividends paid	0
Repurchase of common stock	0
Issuance of common stock under share-based plans	0
Net cash (used) provided by financing activities	0
Effect of exchange rate changes on cash, cash equivalents and restricted cash	0
Cash, cash equivalents and restricted cash:
Cash, cash equivalents and restricted cash, beginning of period	0
Net (decrease) increase in cash, cash equivalents and restricted cash	0
Cash, cash equivalents and restricted cash, end of period	$ 0

Subsequent Event (Details)

Subsequent Event (Details) - Subsequent Event - Europe - USD ($) $ in Millions	1 Months Ended			7 Months Ended	12 Months Ended
	May 31, 2021	Apr. 30, 2021	Apr. 18, 2021	Dec. 31, 2021	Dec. 31, 2022
Subsequent Event [Line Items]
Tariff rate		6.00%	6.00%
Forecast
Subsequent Event [Line Items]
Tariff rate	31.00%			56.00%
Effect of tariff		$ (135)
Forecast | Minimum
Subsequent Event [Line Items]
Effect of tariff					$ (200)
Forecast | Maximum
Subsequent Event [Line Items]
Effect of tariff					$ (225)