Supplemental Consolidating Data (Tables)

3 Months Ended

Apr. 01, 2012

Supplemental Consolidating Data [Abstract]

Operations

	Three months ended April 1, 2012
	Motorcycles & Related Products Operations		Financial Services Operations		Eliminations			Consolidated
Revenue:
Motorcycles and related products	$	1,275,783	$	—	$	(2,414	)	$	1,273,369
Financial services		—		155,906		416			156,322
Total revenue		1,275,783		155,906		(1,998	)		1,429,691
Costs and expenses:
Motorcycles and related products cost of goods sold		816,859		—		—			816,859
Financial services interest expense		—		51,256		—			51,256
Financial services provision for credit losses		—		9,014		—			9,014
Selling, administrative and engineering expense		236,579		31,072		(1,998	)		265,653
Restructuring expense		11,451		—		—			11,451
Total costs and expenses		1,064,889		91,342		(1,998	)		1,154,233
Operating income		210,894		64,564		—			275,458
Investment income		226,933		—		(225,000	)		1,933
Interest expense		11,495		—		—			11,495
Income before provision for income taxes		426,332		64,564		(225,000	)		265,896
Provision for income taxes		70,618		23,243		—			93,861
Income from continuing operations		355,714		41,321		(225,000	)		172,035
Loss from discontinued operations, net of tax		—		—		—			—
Net income	$	355,714	$	41,321	$	(225,000	)	$	172,035

	Three months ended March 27, 2011
	Motorcycles & Related Products Operations		Financial Services Operations		Eliminations			Consolidated
Revenue:
Motorcycles and related products	$	1,065,490	$	—	$	(2,446	)	$	1,063,044
Financial services		—		161,752		134			161,886
Total revenue		1,065,490		161,752		(2,312	)		1,224,930
Costs and expenses:
Motorcycles and related products cost of goods sold		711,178		—		—			711,178
Financial services interest expense		—		58,035		—			58,035
Financial services provision for credit losses		—		5,606		—			5,606
Selling, administrative and engineering expense		203,671		32,756		(2,312	)		234,115
Restructuring expense		22,999		—		—			22,999
Total costs and expenses		937,848		96,397		(2,312	)		1,031,933
Operating income		127,642		65,355		—			192,997
Investment income		126,398		—		(125,000	)		1,398
Interest expense		11,481		—		—			11,481
Income before provision for income taxes		242,559		65,355		(125,000	)		182,914
Provision for income taxes		40,126		23,528		—			63,654
Income from continuing operations		202,433		41,827		(125,000	)		119,260
Loss from discontinued operations, net of tax		—		—		—			—
Net income	$	202,433	$	41,827	$	(125,000	)	$	119,260

Balance Sheet

	April 1, 2012
	Motorcycles & Related Products Operations		Financial Services Operations		Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	929,028	$	347,309	$	—		$	1,276,337
Marketable securities		134,946		—		—			134,946
Accounts receivable, net		581,569		—		(317,297	)		264,272
Finance receivables, net		—		1,339,139		—			1,339,139
Restricted finance receivables held by variable interest entities, net		—		546,350		—			546,350
Inventories		467,941		—		—			467,941
Restricted cash held by variable interest entities		—		246,995		—			246,995
Other current assets		174,053		63,497		—			237,550
Total current assets		2,287,537		2,543,290		(317,297	)		4,513,530
Finance receivables, net		—		2,020,036		—			2,020,036
Restricted finance receivables held by variable interest entities, net		—		1,971,878		—			1,971,878
Property, plant and equipment, net		761,191		29,873		—			791,064
Goodwill		29,740		—		—			29,740
Other long-term assets		336,167		15,970		(73,038	)		279,099
	$	3,414,635	$	6,581,047	$	(390,335	)	$	9,605,347
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable	$	280,738	$	392,461	$	(317,297	)	$	355,902
Accrued liabilities		478,227		102,722		(3,330	)		577,619
Short-term debt		—		629,143		—			629,143
Current portion of long-term debt		—		399,939					399,939
Current portion of long-term debt held by variable interest entities		—		620,624		—			620,624
Total current liabilities		758,965		2,144,889		(320,627	)		2,583,227
Long-term debt		303,000		2,481,688		—			2,784,688
Long-term debt held by variable interest entities		—		1,133,696		—			1,133,696
Pension liability		118,212		—		—			118,212
Postretirement healthcare benefits		265,871		—		—			265,871
Other long-term liabilities		130,278		14,716		—			144,994
Commitments and contingencies (Note 16)
Total shareholders' equity		1,838,309		806,058		(69,708	)		2,574,659
	$	3,414,635	$	6,581,047	$	(390,335	)	$	9,605,347

	December 31, 2011
	Motorcycles & Related Products Operations		Financial Services Operations		Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	943,330	$	583,620	$	—		$	1,526,950
Marketable securities		153,380		—		—			153,380
Accounts receivable, net		393,615		—		(174,576	)		219,039
Finance receivables, net		—		1,168,603		—			1,168,603
Restricted finance receivables held by variable interest entities, net		—		591,864		—			591,864
Inventories		418,006		—		—			418,006
Restricted cash held by variable interest entities		—		229,655		—			229,655
Other current assets		167,423		67,286		—			234,709
Total current assets		2,075,754		2,641,028		(174,576	)		4,542,206
Finance receivables, net		—		1,754,441		—			1,754,441
Restricted finance receivables held by variable interest entities, net		—		2,271,773		—			2,271,773
Property, plant and equipment, net		779,330		30,129		—			809,459
Goodwill		29,081		—		—			29,081
Other long-term assets		322,379		17,460		(72,635	)		267,204
	$	3,206,544	$	6,714,831	$	(247,211	)	$	9,674,164
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable	$	220,957	$	209,332	$	(174,576	)	$	255,713
Accrued liabilities		482,838		85,038		(3,704	)		564,172
Short-term debt		—		838,486		—			838,486
Current portion of long-term debt		—		399,916					399,916
Current portion of long-term debt held by variable interest entities		—		640,331		—			640,331
Total current liabilities		703,795		2,173,103		(178,280	)		2,698,618
Long-term debt		303,000		2,093,871		—			2,396,871
Long-term debt held by variable interest entities		—		1,447,015		—			1,447,015
Pension liability		302,483		—		—			302,483
Postretirement healthcare benefits		268,582		—		—			268,582
Other long-term liabilities		126,036		14,303		—			140,339
Commitments and contingencies (Note 16)
Total shareholders' equity		1,502,648		986,539		(68,931	)		2,420,256
	$	3,206,544	$	6,714,831	$	(247,211	)	$	9,674,164

	March 27, 2011
	Motorcycles & Related Products Operations		Financial Services Operations		Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	663,026	$	269,489	$	—		$	932,515
Marketable securities		115,209		—		—			115,209
Accounts receivable, net		630,437		—		(332,766	)		297,671
Finance receivables, net		—		1,276,780		—			1,276,780
Restricted finance receivables held by variable interest entities, net		—		637,760		—			637,760
Inventories		372,323		—		—			372,323
Restricted cash held by variable interest entities		—		294,903		—			294,903
Other current assets		172,062		71,365		—			243,427
Total current assets		1,953,057		2,550,297		(332,766	)		4,170,588
Finance receivables, net		—		1,806,563		—			1,806,563
Restricted finance receivables held by variable interest entities, net		—		2,304,320		—			2,304,320
Property, plant and equipment, net		769,480		29,611		—			799,091
Goodwill		30,988		—		—			30,988
Other long-term assets		336,759		26,701		(69,868	)		293,592
	$	3,090,284	$	6,717,492	$	(402,634	)	$	9,405,142
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable	$	246,746	$	378,696	$	(332,766	)	$	292,676
Accrued liabilities		493,896		89,253		(3,066	)		580,083
Short-term debt		—		393,393		—			393,393
Current portion of long-term debt held by variable interest entities		—		721,179		—			721,179
Total current liabilities		740,642		1,582,521		(335,832	)		1,987,331
Long-term debt		303,000		2,660,375		—			2,963,375
Long-term debt held by variable interest entities		—		1,603,584		—			1,603,584
Pension liability		99,627		—		—			99,627
Postretirement healthcare liability		254,505		—		—			254,505
Other long-term liabilities		145,739		10,733		—			156,472
Commitments and contingencies (Note 16)
Total shareholders' equity		1,546,771		860,279		(66,802	)		2,340,248
	$	3,090,284	$	6,717,492	$	(402,634	)	$	9,405,142

Cash Flows

	Three months ended April 1, 2012
	Motorcycles & Related Products Operations			Financial Services Operations			Eliminations & Adjustments			Consolidated
Cash flows from operating activities:
Income from continuing operations	$	355,714		$	41,321		$	(225,000	)	$	172,035
Adjustments to reconcile income from continuing operations to cash provided by operating activities:
Depreciation		41,708			1,495			—			43,203
Amortization of deferred loan origination costs		—			18,547			—			18,547
Amortization of financing origination fees		118			2,625			—			2,743
Provision for employee long-term benefits		16,780			513			—			17,293
Contributions to pension and postretirement plans		(206,832	)		—			—			(206,832	)
Stock compensation expense		10,967			777			—			11,744
Net change in wholesale finance receivables		—			—			(151,046	)		(151,046	)
Provision for credit losses		—			9,014			—			9,014
Pension and postretirement healthcare plan curtailment and settlement expense		—			—			—			—
Foreign currency adjustments		(2,911	)		—			—			(2,911	)
Other, net		(1,954	)		3,459			—			1,505
Change in current assets and current liabilities:
Accounts receivable		(186,466	)		—			142,721			(43,745	)
Finance receivables - accrued interest and other		—			3,299			—			3,299
Inventories		(47,168	)		—			—			(47,168	)
Accounts payable and accrued liabilities		57,993			202,188			(142,721	)		117,460
Restructuring reserves		1,296			—			—			1,296
Derivative instruments		(390	)		(96	)		—			(486	)
Other		(18,058	)		(1,509	)		—			(19,567	)
Total adjustments		(334,917	)		240,312			(151,046	)		(245,651	)
Net cash provided by operating activities of continuing operations		20,797			281,633			(376,046	)		(73,616	)
Cash flows from investing activities of continuing operations:
Capital expenditures		(23,441	)		(1,239	)		—			(24,680	)
Origination of finance receivables		—			(1,617,867	)		972,620			(645,247	)
Collections of finance receivables		—			1,503,478			(821,574	)		681,904
Sales and redemptions of marketable securities		20,042			—			—			20,042
Net cash (used by) provided by investing activities of continuing operations		(3,399	)		(115,628	)		151,046			32,019
Cash flows from financing activities of continuing operations:
Proceeds from issuance of medium-term notes		—			397,377			—			397,377
Repayments of securitization debt		—			(333,026	)		—			(333,026	)
Net borrowings of unsecured commercial paper		—			(211,669	)		—			(211,669	)
Net decrease in credit facilities		—			(12,839	)		—			(12,839	)
Net change in restricted cash		—			(17,340	)		—			(17,340	)
Dividends paid		(35,943	)		(225,000	)		225,000			(35,943	)
Purchase of common stock for treasury		(20,745	)		—			—			(20,745	)
Excess tax benefits from share based payments		7,962			—			—			7,962
Issuance of common stock under employee stock option plans		16,281			—			—			16,281
Net cash used by financing activities of continuing operations		(32,445	)		(402,497	)		225,000			(209,942	)
Effect of exchange rate changes on cash and cash equivalents of continuing operations		745			181			—			926
Net (decrease) increase in cash and cash equivalents of continuing operations		(14,302	)		(236,311	)		—			(250,613	)
Cash flows from discontinued operations:
Cash flows from operating activities of discontinued operations		—			—			—			—
Cash flows from investing activities of discontinued operations		—			—			—			—
Effect of exchange rate changes on cash and cash equivalents of discontinued operations		—			—			—			—
		—			—			—			—
Net (decrease) increase in cash and cash equivalents	$	(14,302	)	$	(236,311	)	$	—		$	(250,613	)
Cash and cash equivalents:
Cash and cash equivalents - beginning of period	$	943,330		$	583,620		$	—		$	1,526,950
Cash and cash equivalents of discontinued operations - beginning of period		—			—			—			—
Net (decrease) increase in cash and cash equivalents		(14,302	)		(236,311	)		—			(250,613	)
Less: Cash and cash equivalents of discontinued operations - end of period		—			—			—			—
Cash and cash equivalents - end of period	$	929,028		$	347,309		$	—		$	1,276,337

	Three months ended March 27, 2011
	Motorcycles & Related Products Operations			Financial Services Operations			Eliminations & Adjustments			Consolidated
Cash flows from operating activities:
Income from continuing operations	$	202,433		$	41,827		$	(125,000	)	$	119,260
Adjustments to reconcile income from continuing operations to cash provided by operating activities:
Depreciation		41,340			1,607			—			42,947
Amortization of deferred loan origination costs		—			19,329			—			19,329
Amortization of financing origination fees		118			2,989			—			3,107
Provision for employee long-term benefits		16,445			(882	)		—			15,563
Contributions to pension and postretirement plans		(204,816	)		—			—			(204,816	)
Stock compensation expense		8,481			672			—			9,153
Net change in wholesale finance receivables		—			—			(163,967	)		(163,967	)
Provision for credit losses		—			5,606			—			5,606
Pension and postretirement healthcare plan curtailment and settlement expense		236			—			—			236
Foreign currency adjustments		29			—			—			29
Other, net		1,884			12,228			—			14,112
Change in current assets and current liabilities:
Accounts receivable		(167,885	)		—			140,837			(27,048	)
Finance receivables - accrued interest and other		—			3,542			—			3,542
Inventories		(38,200	)		—			—			(38,200	)
Accounts payable and accrued liabilities		39,517			152,692			(93,249	)		98,960
Restructuring reserves		7,757			—			—			7,757
Derivative instruments		2,178			(21	)		—			2,157
Other		(12,706	)		47,636			(47,575	)		(12,645	)
Total adjustments		(305,622	)		245,398			(163,954	)		(224,178	)
Net cash (used by) provided by operating activities of continuing operations		(103,189	)		287,225			(288,954	)		(104,918	)
Cash flows from investing activities of continuing operations:
Capital expenditures		(26,460	)		(1,244	)		—			(27,704	)
Origination of finance receivables		—			(1,406,139	)		856,939			(549,200	)
Collections of finance receivables		—			1,369,924			(692,972	)		676,952
Purchases of marketable securities		(5,000	)		—			—			(5,000	)
Sales and redemptions of marketable securities		29,974			—			—			29,974
Net cash (used by) provided by investing activities of continuing operations		(1,486	)		(37,459	)		163,967			125,022
Cash flows from financing activities of continuing operations:
Proceeds from issuance of medium-term notes		—			447,076			—			447,076
Repayments of securitization debt		—			(430,471	)		—			(430,471	)
Net decrease in credit facilities and unsecured commercial paper		—			(96,174	)		—			(96,174	)
Net change in restricted cash		—			(6,016	)		—			(6,016	)
Dividends paid		(23,643	)		(125,000	)		125,000			(23,643	)
Purchase of common stock for treasury		(4,699	)		—			—			(4,699	)
Excess tax benefits from share based payments		3,262			—			—			3,262
Issuance of common stock under employee stock option plans		3,861			—			—			3,861
Net cash used by financing activities of continuing operations		(21,219	)		(210,585	)		125,000			(106,804	)
Effect of exchange rate changes on cash and cash equivalents of continuing operations		(2,846	)		166			(13	)		(2,693	)
Net (decrease) increase in cash and cash equivalents of continuing operations		(128,740	)		39,347			—			(89,393	)
Cash flows from discontinued operations:
Cash flows from operating activities of discontinued operations		(25	)		—			—			(25	)
Cash flows from investing activities of discontinued operations		—			—			—			—
Effect of exchange rate changes on cash and cash equivalents of discontinued operations		—			—			—			—
		(25	)		—			—			(25	)
Net (decrease) increase in cash and cash equivalents	$	(128,765	)	$	39,347		$	—		$	(89,418	)
Cash and cash equivalents:
Cash and cash equivalents - beginning of period	$	791,791		$	230,142		$	—		$	1,021,933
Cash and cash equivalents of discontinued operations - beginning of period		—			—			—			—
Net (decrease) increase in cash and cash equivalents		(128,765	)		39,347			—			(89,418	)
Less: Cash and cash equivalents of discontinued operations - end of period		—			—			—			—
Cash and cash equivalents - end of period	$	663,026		$	269,489		$	—		$	932,515