XML 60 R28.htm IDEA: XBRL DOCUMENT
v2.4.1.9

Supplemental Consolidating Data | 12 Months Ended
--- | ---
Dec. 31, 2014
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Supplemental Consolidating Data | Supplemental Consolidating Data The supplemental consolidating data for the periods noted is presented for informational purposes. The supplemental consolidating data may be different than segment information presented elsewhere due to the allocation of intercompany eliminations to reporting segments. All supplemental data is presented in thousands.
|  | Year Ended December 31, 2014
|  | Motorcycles & Related Products Operations |  | Financial Services Operations |  | Eliminations |  | Consolidated
Revenue: |  |  |  |  |  |  |  |
Motorcycles and Related Products |  | $ | 5,577,697 |  |  | $ | — |  |  | $ | (10,016 | ) |  | $ | 5,567,681 |
Financial Services |  | — |  |  | 662,345 |  |  | (1,518 | ) |  | 660,827 |
Total revenue |  | 5,577,697 |  |  | 662,345 |  |  | (11,534 | ) |  | 6,228,508 |
Costs and expenses: |  |  |  |  |  |  |  |
Motorcycles and Related Products cost of goods sold |  | 3,542,601 |  |  | — |  |  | — |  |  | 3,542,601 |
Financial Services interest expense |  | — |  |  | 164,476 |  |  | — |  |  | 164,476 |
Financial Services provision for credit losses |  | — |  |  | 80,946 |  |  | — |  |  | 80,946 |
Selling, administrative and engineering expense |  | 1,023,450 |  |  | 147,586 |  |  | (11,534 | ) |  | 1,159,502 |
Total costs and expenses |  | 4,566,051 |  |  | 393,008 |  |  | (11,534 | ) |  | 4,947,525 |
Operating income |  | 1,011,646 |  |  | 269,337 |  |  | — |  |  | 1,280,983 |
Investment income |  | 126,499 |  |  | — |  |  | (120,000 | ) |  | 6,499 |
Interest expense |  | 4,162 |  |  | — |  |  | — |  |  | 4,162 |
Income before provision for income taxes |  | 1,133,983 |  |  | 269,337 |  |  | (120,000 | ) |  | 1,283,320 |
Provision for income taxes |  | 338,453 |  |  | 100,256 |  |  | — |  |  | 438,709 |
Net income |  | $ | 795,530 |  |  | $ | 169,081 |  |  | $ | (120,000 | ) |  | $ | 844,611 |
|  | Year Ended December 31, 2013
|  | Motorcycles & Related Products Operations |  | Financial Services Operations |  | Eliminations |  | Consolidated
Revenue: |  |  |  |  |  |  |  |
Motorcycles and Related Products |  | $ | 5,268,480 |  |  | $ | — |  |  | $ | (10,190 | ) |  | $ | 5,258,290 |
Financial Services |  | — |  |  | 643,067 |  |  | (1,485 | ) |  | 641,582 |
Total revenue |  | 5,268,480 |  |  | 643,067 |  |  | (11,675 | ) |  | 5,899,872 |
Costs and expenses: |  |  |  |  |  |  |  |
Motorcycles and Related Products cost of goods sold |  | 3,395,918 |  |  | — |  |  | — |  |  | 3,395,918 |
Financial Services interest expense |  | — |  |  | 165,491 |  |  | — |  |  | 165,491 |
Financial Services provision for credit losses |  | — |  |  | 60,008 |  |  | — |  |  | 60,008 |
Selling, administrative and engineering expense |  | 995,378 |  |  | 143,181 |  |  | (11,675 | ) |  | 1,126,884 |
Restructuring benefit |  | (2,131 | ) |  | — |  |  | — |  |  | (2,131 | )
Total costs and expenses |  | 4,389,165 |  |  | 368,680 |  |  | (11,675 | ) |  | 4,746,170 |
Operating income |  | 879,315 |  |  | 274,387 |  |  | — |  |  | 1,153,702 |
Investment income |  | 190,859 |  |  | — |  |  | (185,000 | ) |  | 5,859 |
Interest expense |  | 45,256 |  |  | — |  |  | — |  |  | 45,256 |
Income before provision for income taxes |  | 1,024,918 |  |  | 274,387 |  |  | (185,000 | ) |  | 1,114,305 |
Provision for income taxes |  | 279,841 |  |  | 100,471 |  |  | — |  |  | 380,312 |
Net income |  | $ | 745,077 |  |  | $ | 173,916 |  |  | $ | (185,000 | ) |  | $ | 733,993 |
|  | Year Ended December 31, 2012
|  | Motorcycles & Related Products Operations |  | Financial Services Operations |  | Eliminations |  | Consolidated
Revenue: |  |  |  |  |  |  |  |
Motorcycles and Related Products |  | $ | 4,952,748 |  |  | $ | — |  |  | $ | (10,166 | ) |  | $ | 4,942,582 |
Financial Services |  | — |  |  | 639,482 |  |  | (1,558 | ) |  | 637,924 |
Total revenue |  | 4,952,748 |  |  | 639,482 |  |  | (11,724 | ) |  | 5,580,506 |
Costs and expenses: |  |  |  |  |  |  |  |
Motorcycles and Related Products cost of goods sold |  | 3,222,394 |  |  | — |  |  | — |  |  | 3,222,394 |
Financial Services interest expense |  | — |  |  | 195,990 |  |  | — |  |  | 195,990 |
Financial Services provision for credit losses |  | — |  |  | 22,239 |  |  | — |  |  | 22,239 |
Selling, administrative and engineering expense |  | 977,782 |  |  | 145,174 |  |  | (11,724 | ) |  | 1,111,232 |
Restructuring expense |  | 28,475 |  |  | — |  |  | — |  |  | 28,475 |
Total costs and expenses |  | 4,228,651 |  |  | 363,403 |  |  | (11,724 | ) |  | 4,580,330 |
Operating income |  | 724,097 |  |  | 276,079 |  |  | — |  |  | 1,000,176 |
Investment income |  | 232,369 |  |  | — |  |  | (225,000 | ) |  | 7,369 |
Interest expense |  | 46,033 |  |  | — |  |  | — |  |  | 46,033 |
Income before provision for income taxes |  | 910,433 |  |  | 276,079 |  |  | (225,000 | ) |  | 961,512 |
Provision for income taxes |  | 233,385 |  |  | 104,202 |  |  | — |  |  | 337,587 |
Net income |  | $ | 677,048 |  |  | $ | 171,877 |  |  | $ | (225,000 | ) |  | $ | 623,925 |
|  | December 31, 2014
|  | Motorcycles & Related Products Operations |  | Financial Services Operations |  | Eliminations |  | Consolidated
ASSETS |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 573,895 |  |  | $ | 332,785 |  |  | $ | — |  |  | $ | 906,680 |
Marketable securities |  | 57,325 |  |  | — |  |  | — |  |  | 57,325 |
Accounts receivable, net |  | 658,735 |  |  | — |  |  | (411,114 | ) |  | 247,621 |
Finance receivables, net |  | — |  |  | 1,916,635 |  |  | — |  |  | 1,916,635 |
Inventories |  | 448,871 |  |  | — |  |  | — |  |  | 448,871 |
Restricted cash |  | — |  |  | 98,627 |  |  | — |  |  | 98,627 |
Deferred income taxes |  | 50,015 |  |  | 39,901 |  |  | — |  |  | 89,916 |
Other current assets |  | 142,278 |  |  | 43,125 |  |  | (2,983 | ) |  | 182,420 |
Total current assets |  | 1,931,119 |  |  | 2,431,073 |  |  | (414,097 | ) |  | 3,948,095 |
Finance receivables, net |  | — |  |  | 4,516,246 |  |  | — |  |  | 4,516,246 |
Property, plant and equipment, net |  | 848,661 |  |  | 34,416 |  |  | — |  |  | 883,077 |
Goodwill |  | 27,752 |  |  | — |  |  | — |  |  | 27,752 |
Deferred income taxes |  | 75,121 |  |  | 4,863 |  |  | (2,149 | ) |  | 77,835 |
Other long-term assets |  | 113,727 |  |  | 39,309 |  |  | (77,944 | ) |  | 75,092 |
|  | $ | 2,996,380 |  |  | $ | 7,025,907 |  |  | $ | (494,190 | ) |  | $ | 9,528,097 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |
Accounts payable |  | $ | 171,098 |  |  | $ | 436,884 |  |  | $ | (411,114 | ) |  | $ | 196,868 |
Accrued liabilities |  | 370,652 |  |  | 83,797 |  |  | (5,132 | ) |  | 449,317 |
Short-term debt |  | — |  |  | 731,786 |  |  | — |  |  | 731,786 |
Current portion of long-term debt |  | — |  |  | 1,011,315 |  |  | — |  |  | 1,011,315 |
Total current liabilities |  | 541,750 |  |  | 2,263,782 |  |  | (416,246 | ) |  | 2,389,286 |
Long-term debt |  | — |  |  | 3,761,528 |  |  | — |  |  | 3,761,528 |
Pension liability |  | 76,186 |  |  | — |  |  | — |  |  | 76,186 |
Postretirement healthcare liability |  | 203,006 |  |  | — |  |  | — |  |  | 203,006 |
Other long-term liabilities |  | 164,060 |  |  | 24,745 |  |  | — |  |  | 188,805 |
Commitments and contingencies (Note 15) |  |  |  |  |  |  |  |
Total shareholders’ equity |  | 2,011,378 |  |  | 975,852 |  |  | (77,944 | ) |  | 2,909,286 |
|  | $ | 2,996,380 |  |  | $ | 7,025,907 |  |  | $ | (494,190 | ) |  | $ | 9,528,097 |
|  | December 31, 2013
|  | Motorcycles & Related Products Operations |  | Financial Services Operations |  | Eliminations |  | Consolidated
ASSETS |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 718,912 |  |  | $ | 347,700 |  |  | $ | — |  |  | $ | 1,066,612 |
Marketable securities |  | 99,009 |  |  | — |  |  | — |  |  | 99,009 |
Accounts receivable, net |  | 850,248 |  |  | — |  |  | (589,183 | ) |  | 261,065 |
Finance receivables, net |  | — |  |  | 1,773,686 |  |  | — |  |  | 1,773,686 |
Inventories |  | 424,507 |  |  | — |  |  | — |  |  | 424,507 |
Restricted cash |  | — |  |  | 144,807 |  |  | — |  |  | 144,807 |
Deferred income taxes |  | 70,557 |  |  | 33,068 |  |  | — |  |  | 103,625 |
Other current assets |  | 82,717 |  |  | 34,573 |  |  | (1,798 | ) |  | 115,492 |
Total current assets |  | 2,245,950 |  |  | 2,333,834 |  |  | (590,981 | ) |  | 3,988,803 |
Finance receivables, net |  | — |  |  | 4,225,877 |  |  | — |  |  | 4,225,877 |
Property, plant and equipment, net |  | 808,005 |  |  | 34,472 |  |  | — |  |  | 842,477 |
Prepaid pension costs |  | 244,871 |  |  | — |  |  | — |  |  | 244,871 |
Goodwill |  | 30,452 |  |  | — |  |  | — |  |  | 30,452 |
Deferred income taxes |  | 3,339 |  |  | — |  |  | — |  |  | 3,339 |
Other long-term assets |  | 126,940 |  |  | 17,360 |  |  | (75,079 | ) |  | 69,221 |
|  | $ | 3,459,557 |  |  | $ | 6,611,543 |  |  | $ | (666,060 | ) |  | $ | 9,405,040 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |
Accounts payable |  | $ | 203,786 |  |  | $ | 625,191 |  |  | $ | (589,183 | ) |  | $ | 239,794 |
Accrued liabilities |  | 353,618 |  |  | 77,774 |  |  | (4,057 | ) |  | 427,335 |
Short-term debt |  | — |  |  | 666,317 |  |  | — |  |  | 666,317 |
Current portion of long-term debt |  | 303,000 |  |  | 873,140 |  |  | — |  |  | 1,176,140 |
Total current liabilities |  | 860,404 |  |  | 2,242,422 |  |  | (593,240 | ) |  | 2,509,586 |
Long-term debt |  | — |  |  | 3,416,713 |  |  | — |  |  | 3,416,713 |
Pension liability |  | 36,371 |  |  | — |  |  | — |  |  | 36,371 |
Postretirement healthcare liability |  | 216,165 |  |  | — |  |  | — |  |  | 216,165 |
Deferred income taxes |  | 44,584 |  |  | 2,656 |  |  | 2,259 |  |  | 49,499 |
Other long-term liabilities |  | 146,686 |  |  | 20,534 |  |  | — |  |  | 167,220 |
Commitments and contingencies (Note 15) |  |  |  |  |  |  |  |
Total shareholders’ equity |  | 2,155,347 |  |  | 929,218 |  |  | (75,079 | ) |  | 3,009,486 |
|  | $ | 3,459,557 |  |  | $ | 6,611,543 |  |  | $ | (666,060 | ) |  | $ | 9,405,040 |
|  | Year Ended December 31, 2014
|  | Motorcycles & Related Products Operations |  | Financial Services Operations |  | Eliminations & Adjustments |  | Consolidated
Cash flows from operating activities: |  |  |  |  |  |  |  |
Net income |  | $ | 795,530 |  |  | $ | 169,081 |  |  | $ | (120,000 | ) |  | $ | 844,611 |
Adjustments to reconcile net income to cash provided by operating activities: |  |  |  |  |  |  |  |
Depreciation |  | 171,187 |  |  | 8,113 |  |  | — |  |  | 179,300 |
Amortization of deferred loan origination costs |  | — |  |  | 94,429 |  |  | — |  |  | 94,429 |
Amortization of financing origination fees |  | 59 |  |  | 8,383 |  |  | — |  |  | 8,442 |
Provision for employee long-term benefits |  | 33,709 |  |  | — |  |  | — |  |  | 33,709 |
Contributions to pension and postretirement plans |  | (29,686 | ) |  | — |  |  | — |  |  | (29,686 | )
Stock compensation expense |  | 35,064 |  |  | 2,865 |  |  | — |  |  | 37,929 |
Net change in wholesale finance receivables |  | — |  |  | — |  |  | (75,210 | ) |  | (75,210 | )
Provision for credit losses |  | — |  |  | 80,946 |  |  | — |  |  | 80,946 |
Loss on debt extinguishment |  | — |  |  | 3,942 |  |  | — |  |  | 3,942 |
Deferred income taxes |  | (191 | ) |  | (7,430 | ) |  | — |  |  | (7,621 | )
Foreign currency adjustments |  | 21,964 |  |  | — |  |  | — |  |  | 21,964 |
Other, net |  | 20,273 |  |  | (21,764 | ) |  | — |  |  | (1,491 | )
Change in current assets and current liabilities: |  |  |  |  |  |  |  |
Accounts receivable |  | (31,740 | ) |  | — |  |  | 21,931 |  |  | (9,809 | )
Finance receivables—accrued interest and other |  | — |  |  | (2,515 | ) |  | — |  |  | (2,515 | )
Inventories |  | (50,886 | ) |  | — |  |  | — |  |  | (50,886 | )
Accounts payable and accrued liabilities |  | 16,074 |  |  | 21,629 |  |  | (18,575 | ) |  | 19,128 |
Restructuring reserves |  | 2,181 |  |  | — |  |  | — |  |  | 2,181 |
Derivative instruments |  | 703 |  |  | — |  |  | — |  |  | 703 |
Prepaid and other |  | (17,187 | ) |  | 13,798 |  |  | — |  |  | (3,389 | )
Total adjustments |  | 171,524 |  |  | 202,396 |  |  | (71,854 | ) |  | 302,066 |
Net cash provided by operating activities |  | 967,054 |  |  | 371,477 |  |  | (191,854 | ) |  | 1,146,677 |
Cash flows from investing activities: |  |  |  |  |  |  |  |
Capital expenditures |  | (224,262 | ) |  | (8,057 | ) |  | — |  |  | (232,319 | )
Origination of finance receivables |  | — |  |  | (7,693,884 | ) |  | 4,125,461 |  |  | (3,568,423 | )
Collections of finance receivables |  | — |  |  | 7,066,852 |  |  | (4,053,607 | ) |  | 3,013,245 |
Sales and redemptions of marketable securities |  | 41,010 |  |  | — |  |  | — |  |  | 41,010 |
Other |  | 1,837 |  |  | — |  |  | — |  |  | 1,837 |
Net cash used by investing activities |  | (181,415 | ) |  | (635,089 | ) |  | 71,854 |  |  | (744,650 | )
|  | Year Ended December 31, 2014
|  | Motorcycles & Related Products Operations |  | Financial Services Operations |  | Eliminations & Adjustments |  | Consolidated
Cash flows from financing activities: |  |  |  |  |  |  |  |
Proceeds from issuance of medium-term notes |  | — |  |  | 991,835 |  |  | — |  |  | 991,835 |
Repayments of medium-term notes |  | — |  |  | (526,431 | ) |  | — |  |  | (526,431 | )
Repayment of senior unsecured notes |  | (303,000 | ) |  | — |  |  | — |  |  | (303,000 | )
Intercompany borrowing activity |  | 200,000 |  |  | (200,000 | ) |  | — |  |  | — |
Proceeds from securitization debt |  | — |  |  | 847,126 |  |  | — |  |  | 847,126 |
Repayments of securitization debt |  | — |  |  | (834,856 | ) |  | — |  |  | (834,856 | )
Borrowings of asset-backed commercial paper |  | — |  |  | 84,907 |  |  | — |  |  | 84,907 |
Repayments of asset-backed commercial paper |  | — |  |  | (77,800 | ) |  | — |  |  | (77,800 | )
Net increase in credit facilities and unsecured commercial paper |  | — |  |  | 63,945 |  |  | — |  |  | 63,945 |
Net change in restricted cash |  | — |  |  | 22,755 |  |  | — |  |  | 22,755 |
Dividends |  | (238,300 | ) |  | (120,000 | ) |  | 120,000 |  |  | (238,300 | )
Purchase of common stock for treasury |  | (615,602 | ) |  | — |  |  | — |  |  | (615,602 | )
Excess tax benefits from share-based payments |  | 11,540 |  |  | — |  |  | — |  |  | 11,540 |
Issuance of common stock under employee stock option plans |  | 37,785 |  |  | — |  |  | — |  |  | 37,785 |
Net cash (used by) provided by financing activities |  | (907,577 | ) |  | 251,481 |  |  | 120,000 |  |  | (536,096 | )
Effect of exchange rate changes on cash and cash equivalents |  | (23,079 | ) |  | (2,784 | ) |  | — |  |  | (25,863 | )
Net decrease in cash and cash equivalents |  | $ | (145,017 | ) |  | $ | (14,915 | ) |  | $ | — |  |  | $ | (159,932 | )
Cash and cash equivalents: |  |  |  |  |  |  |  |
Cash and cash equivalents—beginning of period |  | $ | 718,912 |  |  | $ | 347,700 |  |  | $ | — |  |  | $ | 1,066,612 |
Net decrease in cash and cash equivalents |  | (145,017 | ) |  | (14,915 | ) |  | — |  |  | (159,932 | )
Cash and cash equivalents—end of period |  | $ | 573,895 |  |  | $ | 332,785 |  |  | $ | — |  |  | $ | 906,680 |
|  | Year Ended December 31, 2013
|  | Motorcycles & Related Products Operations |  | Financial Services Operations |  | Eliminations & Adjustments |  | Consolidated
Cash flows from operating activities: |  |  |  |  |  |  |  |
Net income |  | $ | 745,077 |  |  | $ | 173,916 |  |  | $ | (185,000 | ) |  | $ | 733,993 |
Adjustments to reconcile net income to cash provided by operating activities: |  |  |  |  |  |  |  |
Depreciation |  | 160,181 |  |  | 6,891 |  |  | — |  |  | 167,072 |
Amortization of deferred loan origination costs |  | — |  |  | 86,181 |  |  | — |  |  | 86,181 |
Amortization of financing origination fees |  | 473 |  |  | 8,903 |  |  | — |  |  | 9,376 |
Provision for employee long-term benefits |  | 66,877 |  |  | — |  |  | — |  |  | 66,877 |
Contributions to pension and postretirement plans |  | (204,796 | ) |  | — |  |  | — |  |  | (204,796 | )
Stock compensation expense |  | 38,367 |  |  | 2,877 |  |  | — |  |  | 41,244 |
Net change in wholesale finance receivables |  | — |  |  | — |  |  | 28,865 |  |  | 28,865 |
Provision for credit losses |  | — |  |  | 60,008 |  |  | — |  |  | 60,008 |
Loss on debt extinguishment |  | — |  |  | 4,947 |  |  | — |  |  | 4,947 |
Deferred income taxes |  | 54,568 |  |  | (1,988 | ) |  | — |  |  | 52,580 |
Foreign currency adjustments |  | 16,269 |  |  | — |  |  | — |  |  | 16,269 |
Other, net |  | 10,942 |  |  | (819 | ) |  | — |  |  | 10,123 |
Change in current assets and current liabilities: |  |  |  |  |  |  |  |
Accounts receivable |  | (24,273 | ) |  | — |  |  | (12,380 | ) |  | (36,653 | )
Finance receivables – accrued interest and other |  | — |  |  | (346 | ) |  | — |  |  | (346 | )
Inventories |  | (46,474 | ) |  | — |  |  | — |  |  | (46,474 | )
Accounts payable and accrued liabilities |  | (60,907 | ) |  | (5,096 | ) |  | 12,380 |  |  | (53,623 | )
Restructuring reserves |  | (25,042 | ) |  | — |  |  | — |  |  | (25,042 | )
Derivative instruments |  | (2,161 | ) |  | (28 | ) |  | — |  |  | (2,189 | )
Prepaid and other |  | 70,900 |  |  | (2,219 | ) |  | — |  |  | 68,681 |
Total adjustments |  | 54,924 |  |  | 159,311 |  |  | 28,865 |  |  | 243,100 |
Net cash provided by operating activities |  | 800,001 |  |  | 333,227 |  |  | (156,135 | ) |  | 977,093 |
Cash flows from investing activities: |  |  |  |  |  |  |  |
Capital expenditures |  | (199,354 | ) |  | (8,967 | ) |  | — |  |  | (208,321 | )
Origination of finance receivables |  | — |  |  | (7,140,533 | ) |  | 3,896,528 |  |  | (3,244,005 | )
Collections of finance receivables |  | — |  |  | 6,757,387 |  |  | (3,925,393 | ) |  | 2,831,994 |
Purchases of marketable securities |  | (4,998 | ) |  | — |  |  | — |  |  | (4,998 | )
Sales and redemptions of marketable securities |  | 40,108 |  |  | — |  |  | — |  |  | 40,108 |
Other |  | 16,355 |  |  | — |  |  | — |  |  | 16,355 |
Net cash used by investing activities |  | (147,889 | ) |  | (392,113 | ) |  | (28,865 | ) |  | (568,867 | )
|  | Year Ended December 31, 2013
|  | Motorcycles & Related Products Operations |  | Financial Services Operations |  | Eliminations & Adjustments |  | Consolidated
Cash flows from financing activities: |  |  |  |  |  |  |  |
Repayments of medium-term notes |  | — |  |  | (27,858 | ) |  | — |  |  | (27,858 | )
Intercompany borrowing activity |  | (50,000 | ) |  | 50,000 |  |  | — |  |  | — |
Proceeds from securitization debt |  | — |  |  | 647,516 |  |  | — |  |  | 647,516 |
Repayments of securitization debt |  | — |  |  | (840,387 | ) |  | — |  |  | (840,387 | )
Borrowings of asset-backed commercial paper |  | — |  |  | 88,456 |  |  | — |  |  | 88,456 |
Net increase in credit facilities and unsecured commercial paper |  | — |  |  | 371,085 |  |  | — |  |  | 371,085 |
Repayments of asset-backed commercial paper |  | — |  |  | (78,765 | ) |  | — |  |  | (78,765 | )
Net change in restricted cash |  | — |  |  | 43,201 |  |  | — |  |  | 43,201 |
Dividends paid |  | (187,688 | ) |  | (185,000 | ) |  | 185,000 |  |  | (187,688 | )
Purchase of common stock for treasury, net of issuances |  | (479,231 | ) |  | — |  |  | — |  |  | (479,231 | )
Excess tax benefits from share based payments |  | 19,895 |  |  | — |  |  | — |  |  | 19,895 |
Issuance of common stock under employee stock option plans |  | 50,567 |  |  | — |  |  | — |  |  | 50,567 |
Net cash (used by) provided by financing activities |  | (646,457 | ) |  | 68,248 |  |  | 185,000 |  |  | (393,209 | )
Effect of exchange rate changes on cash and cash equivalents |  | (14,459 | ) |  | (2,084 | ) |  | — |  |  | (16,543 | )
Net (decrease) increase in cash and cash equivalents |  | $ | (8,804 | ) |  | $ | 7,278 |  |  | $ | — |  |  | $ | (1,526 | )
Cash and cash equivalents: |  |  |  |  |  |  |  |
Cash and cash equivalents – beginning of period |  | $ | 727,716 |  |  | $ | 340,422 |  |  | $ | — |  |  | $ | 1,068,138 |
Net (decrease) increase in cash and cash equivalents |  | (8,804 | ) |  | 7,278 |  |  | — |  |  | (1,526 | )
Cash and cash equivalents – end of period |  | $ | 718,912 |  |  | $ | 347,700 |  |  | $ | — |  |  | $ | 1,066,612 |
|  | Year Ended December 31, 2012
|  | Motorcycles & Related Products Operations |  | Financial Services Operations |  | Eliminations & Adjustments |  | Consolidated
Cash flows from operating activities: |  |  |  |  |  |  |  |
Net income |  | $ | 677,048 |  |  | $ | 171,877 |  |  | $ | (225,000 | ) |  | $ | 623,925 |
Adjustments to reconcile net income to cash provided by operating activities: |  |  |  |  |  |  |  |
Depreciation |  | 162,659 |  |  | 6,319 |  |  | — |  |  | 168,978 |
Amortization of deferred loan origination costs |  | — |  |  | 78,592 |  |  | — |  |  | 78,592 |
Amortization of financing origination fees |  | 473 |  |  | 9,496 |  |  | — |  |  | 9,969 |
Provision for employee long-term benefits |  | 67,612 |  |  | 3,735 |  |  | — |  |  | 71,347 |
Contributions to pension and postretirement plans |  | (244,416 | ) |  | — |  |  | — |  |  | (244,416 | )
Stock compensation expense |  | 37,544 |  |  | 3,271 |  |  | — |  |  | 40,815 |
Net change in wholesale finance receivables |  | — |  |  | — |  |  | 2,513 |  |  | 2,513 |
Provision for credit losses |  | — |  |  | 22,239 |  |  | — |  |  | 22,239 |
Loss on debt extinguishment |  | — |  |  | 4,323 |  |  | — |  |  | 4,323 |
Pension and postretirement healthcare plan curtailment and settlement expense |  | 6,242 |  |  | — |  |  | — |  |  | 6,242 |
Deferred income taxes |  | 117,772 |  |  | 10,680 |  |  | — |  |  | 128,452 |
Foreign currency adjustments |  | 9,773 |  |  | — |  |  | — |  |  | 9,773 |
Other, net |  | (2,290 | ) |  | (4,926 | ) |  | — |  |  | (7,216 | )
|  | Year Ended December 31, 2012
|  | Motorcycles & Related Products Operations |  | Financial Services Operations |  | Eliminations & Adjustments |  | Consolidated
Change in current assets and current liabilities: |  |  |  |  |  |  |  |
Accounts receivable |  | 9,323 |  |  | — |  |  | (23,013 | ) |  | (13,690 | )
Finance receivables – accrued interest and other |  | — |  |  | (4 | ) |  | — |  |  | (4 | )
Inventories |  | 21,459 |  |  | — |  |  | — |  |  | 21,459 |
Accounts payable and accrued liabilities |  | (6,368 | ) |  | (27,443 | ) |  | 23,013 |  |  | (10,798 | )
Restructuring reserves |  | (16,087 | ) |  | — |  |  | — |  |  | (16,087 | )
Derivative instruments |  | 2,906 |  |  | (148 | ) |  | — |  |  | 2,758 |
Prepaid and other |  | (95,162 | ) |  | (2,554 | ) |  | — |  |  | (97,716 | )
Total adjustments |  | 71,440 |  |  | 103,580 |  |  | 2,513 |  |  | 177,533 |
Net cash provided by operating activities |  | 748,488 |  |  | 275,457 |  |  | (222,487 | ) |  | 801,458 |
Cash flows from investing activities: |  |  |  |  |  |  |  |
Capital expenditures |  | (180,416 | ) |  | (8,586 | ) |  | — |  |  | (189,002 | )
Origination of finance receivables |  | — |  |  | (6,544,828 | ) |  | 3,686,127 |  |  | (2,858,701 | )
Collections of finance receivables |  | — |  |  | 6,456,729 |  |  | (3,688,640 | ) |  | 2,768,089 |
Purchases of marketable securities |  | (4,993 | ) |  | — |  |  | — |  |  | (4,993 | )
Sales and redemptions of marketable securities |  | 23,296 |  |  | — |  |  | — |  |  | 23,296 |
Net cash used by investing activities |  | (162,113 | ) |  | (96,685 | ) |  | (2,513 | ) |  | (261,311 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |
Proceeds from issuance of medium-term notes |  | — |  |  | 993,737 |  |  | — |  |  | 993,737 |
Repayment of medium-term notes |  | — |  |  | (420,870 | ) |  | — |  |  | (420,870 | )
Intercompany borrowing activity |  | (400,000 | ) |  | 400,000 |  |  | — |  |  | — |
Proceeds from securitization debt |  | — |  |  | 763,895 |  |  | — |  |  | 763,895 |
Repayments of securitization debt |  | — |  |  | (1,405,599 | ) |  | — |  |  | (1,405,599 | )
Borrowings of asset-backed commercial paper |  | — |  |  | 200,417 |  |  | — |  |  | 200,417 |
Net decrease in credit facilities and unsecured commercial paper |  | — |  |  | (744,724 | ) |  | — |  |  | (744,724 | )
Repayments of asset-backed commercial paper |  | — |  |  | (24,301 | ) |  | — |  |  | (24,301 | )
Net change in restricted cash |  | — |  |  | 41,647 |  |  | — |  |  | 41,647 |
Dividends paid |  | (141,681 | ) |  | (225,000 | ) |  | 225,000 |  |  | (141,681 | )
Purchase of common stock for treasury, net of issuances |  | (311,632 | ) |  | — |  |  | — |  |  | (311,632 | )
Excess tax benefits from share based payments |  | 13,065 |  |  | — |  |  | — |  |  | 13,065 |
Issuance of common stock under employee stock option plans |  | 45,973 |  |  | — |  |  | — |  |  | 45,973 |
Net cash used by financing activities |  | (794,275 | ) |  | (420,798 | ) |  | 225,000 |  |  | (990,073 | )
Effect of exchange rate changes on cash and cash equivalents |  | (7,714 | ) |  | (1,172 | ) |  | — |  |  | (8,886 | )
Net decrease in cash and cash equivalents |  | $ | (215,614 | ) |  | $ | (243,198 | ) |  | $ | — |  |  | $ | (458,812 | )
Cash and cash equivalents: |  |  |  |  |  |  |  |
Cash and cash equivalents – beginning of period |  | $ | 943,330 |  |  | $ | 583,620 |  |  | $ | — |  |  | $ | 1,526,950 |
Net decrease in cash and cash equivalents |  | (215,614 | ) |  | (243,198 | ) |  | — |  |  | (458,812 | )
Cash and cash equivalents – end of period |  | $ | 727,716 |  |  | $ | 340,422 |  |  | $ | — |  |  | $ | 1,068,138 |

X
- Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 06 -Article 9 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=7656940&loc=d3e5283-111683 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 12 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Article 5 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 05 -Paragraph c -Article 7 + Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration