Supplemental Consolidating Data

12 Months Ended

Dec. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Supplemental Consolidating Data

Supplemental Consolidating DataThe supplemental consolidating legal entity data for Harley-Davidson Motor Company, Harley-Davidson Financial Services and related consolidating adjustments is presented for informational purposes. The legal entity income statement information presented below differs from reportable segment income statement information due to the allocation of legal entity consolidating adjustments to income for reportable segments. Supplemental consolidating data for 2021 is as follows (in thousands):

	Year Ended December 31, 2021
	Harley-Davidson Motor Company		Harley-Davidson Financial Services		Consolidating Adjustments		Consolidated
Revenue:
Motorcycles and Related Products	$	4,564,703	$	—	$	(24,463)	$	4,540,240
Financial Services	—		788,736		7,332		796,068
	4,564,703		788,736		(17,131)		5,336,308
Costs and expenses:
Motorcycles and Related Products cost of goods sold	3,243,287		—		—		3,243,287
Financial Services interest expense	—		192,944		—		192,944
Financial Services provision for credit losses	—		25,049		—		25,049
Selling, administrative and engineering expense	899,088		166,332		(17,246)		1,048,174
Restructuring expense	2,741		674		—		3,415
	4,145,116		384,999		(17,246)		4,512,869
Operating income	419,587		403,737		115		823,439
Other income, net	20,076		—		—		20,076
Investment income	246,694		—		(240,000)		6,694
Interest expense	30,972		—		—		30,972
Income before income taxes	655,385		403,737		(239,885)		819,237
Income tax provision	73,590		95,623		—		169,213
Net income	$	581,795	$	308,114	$	(239,885)	$	650,024

	Year Ended December 31, 2020
	Harley-Davidson Motor Company		Harley-Davidson Financial Services		Consolidating Adjustments		Consolidated
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 sold	2,435,745		—		—		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 expense	907,257		152,258		(8,888)		1,050,627
Restructuring expense	119,110		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 income	107,560		—		(100,000)		7,560
Interest expense	31,121		—		—		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, 2021
	Harley-Davidson Motor Company		Harley-Davidson Financial Services		Consolidating Adjustments		Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	1,078,205	$	796,540	$	—	$	1,874,745
Accounts receivable, net	284,674		—		(102,526)		182,148
Finance receivables, net	—		1,465,544		—		1,465,544
Inventories, net	712,942		—		—		712,942
Restricted cash	—		128,935		—		128,935
Other current assets	96,714		92,295		(3,232)		185,777
	2,172,535		2,483,314		(105,758)		4,550,091
Finance receivables, net	—		5,106,377		—		5,106,377
Property, plant and equipment, net	655,091		28,893		—		683,984
Pension and postretirement assets	386,152		—		—		386,152
Goodwill	63,177		—		—		63,177
Deferred income taxes	17,180		77,956		(12,214)		82,922
Lease assets	42,362		7,263		—		49,625
Other long-term assets	193,819		38,960		(104,052)		128,727
	$	3,530,316	$	7,742,763	$	(222,024)	$	11,051,055
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	356,309	$	121,195	$	(102,526)	$	374,978
Accrued liabilities	497,038		107,380		(2,437)		601,981
Short-term deposits, net	—		72,146		—		72,146
Short-term debt	—		751,286		—		751,286
Current portion of long-term debt, net	—		1,542,496		—		1,542,496
	853,347		2,594,503		(104,963)		3,342,887
Long-term deposits, net	—		218,180		—		218,180
Long-term debt, net	744,668		3,850,949		—		4,595,617
Lease liabilities	22,437		7,467		—		29,904
Pension and postretirement liabilities	95,299		—		—		95,299
Deferred income taxes	18,899		1,531		(11,169)		9,261
Other long-term liabilities	154,950		49,610		2,103		206,663
Commitments and contingencies (Note 16)
Shareholders’ equity	1,640,716		1,020,523		(107,995)		2,553,244
	$	3,530,316	$	7,742,763	$	(222,024)	$	11,051,055

	December 31, 2020
	Harley-Davidson Motor Company		Harley-Davidson Financial Services		Consolidating Adjustments		Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	666,161	$	2,591,042	$	—	$	3,257,203
Accounts receivable, net	220,110		—		(77,028)		143,082
Finance receivables, net	—		1,509,539		—		1,509,539
Inventories, net	523,497		—		—		523,497
Restricted cash	—		131,642		—		131,642
Other current assets	93,510		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, net	709,845		33,939		—		743,784
Pension and postretirement assets	95,711		—		—		95,711
Goodwill	65,976		—		—		65,976
Deferred income taxes	69,688		90,011		(1,161)		158,538
Lease assets	40,564		4,639		—		45,203
Other long-term assets	184,300		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 liabilities	444,786		115,506		(3,078)		557,214
Short-term deposits, net	—		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 liabilities	26,313		3,802		—		30,115
Pension and postretirement liabilities	114,206		—		—		114,206
Deferred income taxes	7,166		1,441		—		8,607
Other long-term liabilities	171,242		46,514		2,245		220,001
Commitments and contingencies (Note 16)
Shareholders’ equity	884,243		937,528		(98,986)		1,722,785
	$	2,669,362	$	9,518,086	$	(176,847)	$	12,010,601

	Year Ended December 31, 2021
	Harley-Davidson Motor Company		Harley-Davidson Financial Services		Consolidating Adjustments		Consolidated
Cash flows from operating activities:
Net income	$	581,795	$	308,114	$	(239,885)	$	650,024
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	155,969		9,216		—		165,185
Amortization of deferred loan origination costs	—		86,115		—		86,115
Amortization of financing origination fees	691		13,119		—		13,810
Provision for long-term employee benefits	8,317		—		—		8,317
Employee benefit plan contributions and payments	(17,133)		—		—		(17,133)
Stock compensation expense	38,909		3,247		—		42,156
Net change in wholesale finance receivables related to sales	—		—		89,001		89,001
Provision for credit losses	—		25,049		—		25,049
Deferred income taxes	(16,279)		8,723		(116)		(7,672)
Other, net	(8,346)		(1,523)		(116)		(9,985)
Changes in current assets and liabilities:
Accounts receivable, net	(78,961)		—		25,498		(53,463)
Finance receivables - accrued interest and other	—		13,316		—		13,316
Inventories, net	(207,550)		—		—		(207,550)
Accounts payable and accrued liabilities	174,615		23,373		(24,440)		173,548
Other current assets	10,982		(5,501)		(498)		4,983
	61,214		175,134		89,329		325,677
Net cash provided by operating activities	643,009		483,248		(150,556)		975,701
Cash flows from investing activities:
Capital expenditures	(115,995)		(4,186)		—		(120,181)
Origination of finance receivables	—		(7,409,811)		3,166,101		(4,243,710)
Collections on finance receivables	—		7,157,849		(3,255,545)		3,902,304
Other investing activities	2,140		—		—		2,140
Net cash used by investing activities	(113,855)		(256,148)		(89,444)		(459,447)

	Year Ended December 31, 2021
	Harley-Davidson Motor Company		Harley-Davidson Financial Services		Consolidating Adjustments		Consolidated
Cash flows from financing activities:
Repayments of medium-term notes	—		(1,400,000)		—		(1,400,000)
Proceeds from securitization debt	—		1,169,910		—		1,169,910
Repayments of securitization debt	—		(1,340,638)		—		(1,340,638)
Borrowings of asset-backed commercial paper	—		98,863		—		98,863
Repayments of asset-backed commercial paper	—		(261,367)		—		(261,367)
Net increase in unsecured commercial paper	—		(260,250)		—		(260,250)
Net increase in deposits	—		210,112		—		210,112
Dividends paid	(92,426)		(240,000)		240,000		(92,426)
Repurchase of common stock	(11,623)		—		—		(11,623)
Other financing activities	2,488		—		—		2,488
Net cash (used) provided by financing activities	(101,561)		(2,023,370)		240,000		(1,884,931)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(15,549)		277		—		(15,272)
Net increase (decrease) in cash, cash equivalents and restricted cash	$	412,044	$	(1,795,993)	$	—	$	(1,383,949)
Cash, cash equivalents and restricted cash:
Cash, cash equivalents and restricted cash, beginning of period	$	666,161	$	2,743,007	$	—	$	3,409,168
Net increase (decrease) in cash, cash equivalents and restricted cash	412,044		(1,795,993)		—		(1,383,949)
Cash, cash equivalents and restricted cash, end of period	$	1,078,205	$	947,014	$	—	$	2,025,219