XML 41 R28.htm IDEA: XBRL DOCUMENT v3.20.4
Supplemental Consolidating Data
 12 Months Ended
Dec. 31, 2020
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 reporting adjustments to the reportable segments. Supplemental consolidating data for 2020 is as follows (in thousands):
 Year Ended December 31, 2020
 HDMC EntitiesHDFS EntitiesConsolidating AdjustmentsConsolidated
Revenue:
Motorcycles and Related Products$3,279,407 $— $(15,353)$3,264,054 
Financial Services— 783,421 6,902 790,323 
3,279,407 783,421 (8,451)4,054,377 
Costs and expenses:
Motorcycles and Related Products cost of goods sold2,435,745 — — 2,435,745 
Financial Services interest expense— 246,447 — 246,447 
Financial Services provision for credit losses— 181,870 — 181,870 
Selling, administrative and engineering expense907,257 152,258 (8,888)1,050,627 
Restructuring expense119,110 10,899 — 130,009 
3,462,112 591,474 (8,888)4,044,698 
Operating (loss) income(182,705)191,947 437 9,679 
Other expense, net(1,848)— — (1,848)
Investment income107,560 — (100,000)7,560 
Interest expense31,121 — — 31,121 
(Loss) income before income taxes(108,114)191,947 (99,563)(15,730)
Income tax (benefit) provision(59,231)42,203 — (17,028)
Net (loss) income$(48,883)$149,744 $(99,563)$1,298 
 December 31, 2020
 HDMC EntitiesHDFS EntitiesConsolidating AdjustmentsConsolidated
ASSETS
Current assets:
Cash and cash equivalents$666,161 $2,591,042 $— $3,257,203 
Accounts receivable, net220,110 — (77,028)143,082 
Finance receivables, net— 1,509,539 — 1,509,539 
Inventories, net523,497 — — 523,497 
Restricted cash— 131,642 — 131,642 
Other current assets93,510 190,690 (3,730)280,470 
1,503,278 4,422,913 (80,758)5,845,433 
Finance receivables, net— 4,933,469 — 4,933,469 
Property, plant and equipment, net709,845 33,939 — 743,784 
Pension and postretirement assets95,711 — — 95,711 
Goodwill65,976 — — 65,976 
Deferred income taxes69,688 90,011 (1,161)158,538 
Lease assets40,564 4,639 — 45,203 
Other long-term assets184,300 33,115 (94,928)122,487 
$2,669,362 $9,518,086 $(176,847)$12,010,601 
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable$277,429 $90,503 $(77,028)$290,904 
Accrued liabilities444,786 115,506 (3,078)557,214 
Deposits— 79,965 — 79,965 
Short-term debt— 1,014,274 — 1,014,274 
Current portion of long-term debt, net — 2,039,597 — 2,039,597 
722,215 3,339,845 (80,106)3,981,954 
Long-term debt, net 743,977 5,188,956 — 5,932,933 
Lease liability26,313 3,802 — 30,115 
Pension and postretirement liabilities114,206 — — 114,206 
Deferred income taxes7,166 1,441 — 8,607 
Other long-term liabilities171,242 46,514 2,245 220,001 
Commitments and contingencies (Note 16)
Shareholders’ equity884,243 937,528 (98,986)1,722,785 
$2,669,362 $9,518,086 $(176,847)$12,010,601 
 Year Ended December 31, 2020
 HDMC EntitiesHDFS EntitiesConsolidating AdjustmentsConsolidated
Cash flows from operating activities:
Net (loss) income$(48,883)$149,744 $(99,563)$1,298 
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization177,113 8,602 — 185,715 
Amortization of deferred loan origination costs— 71,142 — 71,142 
Amortization of financing origination fees681 13,754 — 14,435 
Provision for long-term employee benefits40,833 — — 40,833 
Employee benefit plan contributions and payments (20,722)— — (20,722)
Stock compensation expense17,905 1,859 3,730 23,494 
Net change in wholesale finance receivables related to sales— — 531,701 531,701 
Provision for credit losses— 181,870 — 181,870 
Deferred income taxes(19,097)(24,697)(285)(44,079)
Other, net544 13,718 (436)13,826 
Changes in current assets and liabilities:
Accounts receivable, net
161,012 — (33,355)127,657 
Finance receivables - accrued interest and other— 7,418 — 7,418 
Inventories, net
80,858 — — 80,858 
Accounts payable and accrued liabilities
(34,755)(40,851)32,519 (43,087)
Derivative financial instruments
(3,566)85 — (3,481)
Other
13,929 (4,081)(836)9,012 
414,735 228,819 533,038 1,176,592 
Net cash provided by operating activities365,852 378,563 433,475 1,177,890 
Cash flows from investing activities:
Capital expenditures(128,798)(2,252)— (131,050)
Origination of finance receivables— (5,616,347)2,118,861 (3,497,486)
Collections on finance receivables— 6,192,625 (2,652,336)3,540,289 
Other investing activities18,073 3,391 — 21,464 
Net cash (used) provided by investing activities(110,725)577,417 (533,475)(66,783)
 Year Ended December 31, 2020
 HDMC EntitiesHDFS EntitiesConsolidating AdjustmentsConsolidated
Cash flows from financing activities:
Proceeds from issuance of medium-term notes— 1,396,602 — 1,396,602 
Repayments of medium-term notes— (1,400,000)— (1,400,000)
Proceeds from securitization debt— 2,064,450 — 2,064,450 
Repayments of securitization debt— (1,041,751)— (1,041,751)
Borrowings of asset-backed commercial paper— 225,187 — 225,187 
Repayments of asset-backed commercial paper— (318,828)— (318,828)
Net increase in unsecured commercial paper— 444,380 — 444,380 
Deposits— 79,947 — 79,947 
Dividends paid (68,087)(100,000)100,000 (68,087)
Repurchase of common stock(8,006)— — (8,006)
Issuance of common stock under share-based plans89 — — 89 
Net cash (used) provided by financing activities(76,004)1,349,987 100,000 1,373,983 
Effect of exchange rate changes on cash, cash equivalents and restricted cash16,389 2,323 — 18,712 
Net increase in cash, cash equivalents and restricted cash$195,512 $2,308,290 $— $2,503,802 
Cash, cash equivalents and restricted cash:
Cash, cash equivalents and restricted cash, beginning of period$470,649 $434,717 $— $905,366 
Net increase in cash, cash equivalents and restricted cash195,512 2,308,290 — 2,503,802 
Cash, cash equivalents and restricted cash, end of period$666,161 $2,743,007 $— $3,409,168