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Supplemental Consolidating Data

6 Months Ended

Jun. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Supplemental Consolidating Data

Supplemental Consolidating Data

The supplemental consolidating data includes separate legal entity data for the Company's financial services entities, including Harley-Davidson Financial Services, Inc. and its subsidiaries (Financial Services Entities), and all other Harley-Davidson, Inc. entities (Non-Financial Services Entities). This information is presented to highlight the separate financial statement impacts of the Company's Financial Services Entities and its Non-Financial Services Entities. The 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 is as follows (in thousands):

			Three months ended June 30, 2024
			Non-Financial Services Entities						Financial Services Entities						Consolidating Adjustments						Consolidated
Revenue:
Motorcycles and related products			$	1,357,953					$	—					$	(2,599)					$	1,355,354
Financial services			—						264,220						(681)						263,539
			1,357,953						264,220						(3,280)						1,618,893
Costs and expenses:
Motorcycles and related products cost of goods sold			924,012						—						—						924,012
Financial services interest expense			—						93,741						—						93,741
Financial services provision for credit losses			—						56,030						—						56,030
Selling, administrative and engineering expense			262,188						45,004						(3,184)						304,008
			1,186,200						194,775						(3,184)						1,377,791
Operating income			171,753						69,445						(96)						241,102
Other income, net			15,879						—						—						15,879
Investment income			14,811						—						—						14,811
Interest expense			7,680						—						—						7,680
Income before income taxes			194,763						69,445						(96)						264,112
Income tax provision			32,032						16,674						—						48,706
Net income			162,731						52,771						(96)						215,406
Less: (income) loss attributable to noncontrolling interests			2,863						$	—					$	—					$	2,863
Net income attributable to Harley-Davidson, Inc.			$	165,594					$	52,771					$	(96)					$	218,269
			Six months ended June 30, 2024
			Non-Financial Services Entities						Financial Services Entities						Consolidating Adjustments						Consolidated
Revenue:
Motorcycles and related products			$	2,840,712					$	—					$	(4,548)					$	2,836,164
Financial services			—						513,459						(1,123)						512,336
			2,840,712						513,459						(5,671)						3,348,500
Costs and expenses:
Motorcycles and related products cost of goods sold			1,947,693						—						—						1,947,693
Financial services interest expense			—						182,480						—						182,480
Financial services provision for credit losses			—						117,040						—						117,040
Selling, administrative and engineering expense			510,661						92,126						(5,682)						597,105
			2,458,354						391,646						(5,682)						2,844,318
Operating income			382,358						121,813						11						504,182
Other income, net			36,443						—						—						36,443
Investment income			29,215						—						—						29,215
Interest expense			15,359						—						—						15,359
Income before income taxes			432,657						121,813						11						554,481
Provision for income taxes			77,562						29,280						—						106,842
Net income			355,095						92,533						11						447,639
Less: (income) loss attributable to noncontrolling interests			5,571						—						—						5,571
Net income attributable to Harley-Davidson, Inc.			$	360,666					$	92,533					$	11					$	453,210

			Three months ended June 30, 2023
			Non-Financial Services Entities						Financial Services Entities						Consolidating Adjustments						Consolidated
Revenue:
Motorcycles and Related Products			$	1,207,314					$	—					$	(2,152)					$	1,205,162
Financial Services			—						241,090						(729)						240,361
			1,207,314						241,090						(2,881)						1,445,523
Costs and expenses:
Motorcycles and Related Products cost of goods sold			790,628						—						—						790,628
Financial Services interest expense			—						86,005						—						86,005
Financial Services provision for credit losses			—						57,278						—						57,278
Selling, administrative and engineering expense			252,825						40,245						(2,796)						290,274
			1,043,453						183,528						(2,796)						1,224,185
Operating income			163,861						57,562						(85)						221,338
Other income, net			7,226						—						—						7,226
Investment income			11,151						—						—						11,151
Interest expense			7,696						—						—						7,696
Income before income taxes			174,542						57,562						(85)						232,019
Provision for income taxes			43,670						14,519						—						58,189
Net income			130,872						43,043						(85)						173,830
Less: (income) loss attributable to noncontrolling interests			4,209						—						—						4,209
Net income attributable to Harley-Davidson, Inc.			$	135,081					$	43,043					$	(85)					$	178,039
			Six months ended June 30, 2023
			Non-Financial Services Entities						Financial Services Entities						Consolidating Adjustments						Consolidated
Revenue:
Motorcycles and related products			$	2,775,023					$	—					$	(4,270)					$	2,770,753
Financial services			—						464,613						(1,157)						463,456
			2,775,023						464,613						(5,427)						3,234,209
Costs and expenses:
Motorcycles and related products cost of goods sold			1,797,929						—						—						1,797,929
Financial services interest expense			—						159,554						—						159,554
Financial services provision for credit losses			—						109,642						—						109,642
Selling, administrative and engineering expense			500,520						81,125						(5,508)						576,137
			2,298,449						350,321						(5,508)						2,643,262
Operating income			476,574						114,292						81						590,947
Other income, net			27,322						—						—						27,322
Investment income			21,176						—						—						21,176
Interest expense			15,416						—						—						15,416
Income before income taxes			509,656						114,292						81						624,029
Provision for income taxes			122,398						25,972						—						148,370
Net income			387,258						88,320						81						475,659
Less: (income) loss attributable to noncontrolling interests			6,470						—						—						6,470
Net income attributable to Harley-Davidson, Inc.			$	393,728					$	88,320					$	81					$	482,129

			June 30, 2024
			Non-Financial Services Entities						Financial Services Entities						Consolidating Adjustments						Consolidated
ASSETS
Current assets:
Cash and cash equivalents			$	1,276,973					$	572,186					$	—					$	1,849,159
Accounts receivable, net			636,846						46						(315,607)						321,285
Finance receivables, net			—						2,472,784						—						2,472,784
Inventories, net			668,924						—						—						668,924
Restricted cash			—						137,486						—						137,486
Other current assets			143,012						59,086						(14,096)						188,002
			2,725,755						3,241,588						(329,703)						5,637,640
Finance receivables, net			—						5,545,780						—						5,545,780
Property, plant and equipment, net			703,548						16,875						—						720,423
Pension and postretirement assets			438,805						—						—						438,805
Goodwill			62,152						—						—						62,152
Deferred income taxes			72,899						86,473						(792)						158,580
Lease assets			58,078						3,838						—						61,916
Other long-term assets			224,645						25,941						(115,640)						134,946
			$	4,285,882					$	8,920,495					$	(446,135)					$	12,760,242
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable			$	351,209					$	341,465					$	(315,607)					$	377,067
Accrued liabilities			502,575						172,019						(13,427)						661,167
Short-term deposits, net			—						206,972						—						206,972
Short-term debt			—						497,792						—						497,792
Current portion of long-term debt, net			—						2,021,344						—						2,021,344
			853,784						3,239,592						(329,034)						3,764,342
Long-term deposits, net			—						297,121						—						297,121
Long-term debt, net			746,438						4,203,433						—						4,949,871
Lease liabilities			41,991						3,364						—						45,355
Pension and postretirement liabilities			58,886						—						—						58,886
Deferred income taxes			30,266						3,231						—						33,497
Other long-term liabilities			143,946						32,034						1,874						177,854
Commitments and contingencies (Note 14)
Shareholders’ equity			2,410,571						1,141,720						(118,975)						3,433,316
			$	4,285,882					$	8,920,495					$	(446,135)					$	12,760,242

			June 30, 2023
			Non-Financial Services Entities						Financial Services Entities						Consolidating Adjustments						Consolidated
ASSETS
Current assets:
Cash and cash equivalents			$	1,056,404					$	465,536					$	—					$	1,521,940
Accounts receivable, net			514,653						—						(185,166)						329,487
Finance receivables, net			—						1,979,645						—						1,979,645
Inventories, net			846,033						—						—						846,033
Restricted cash			—						135,618						—						135,618
Other current assets			151,505						55,556						(5,359)						201,702
			2,568,595						2,636,355						(190,525)						5,014,425
Finance receivables, net			—						5,530,221						—						5,530,221
Property, plant and equipment, net			666,908						21,208						—						688,116
Pension and postretirement assets			353,004						—						—						353,004
Goodwill			62,451						—						—						62,451
Deferred income taxes			60,412						85,907						(951)						145,368
Lease assets			67,878						5,348						—						73,226
Other long-term assets			226,149						34,790						(112,189)						148,750
			$	4,005,397					$	8,313,829					$	(303,665)					$	12,015,561
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable			$	329,394					$	215,197					$	(185,166)					$	359,425
Accrued liabilities			480,352						115,130						(4,797)						590,685
Short-term deposits, net			—						216,293						—						216,293
Short-term debt			—						695,356						—						695,356
Current portion of long-term debt, net			—						604,700						—						604,700
			809,746						1,846,676						(189,963)						2,466,459
Long-term deposits, net			—						223,618						—						223,618
Long-term debt, net			745,722						5,019,524						—						5,765,246
Lease liabilities			51,013						5,097						—						56,110
Pension and postretirement liabilities			66,801						—						—						66,801
Deferred income taxes			28,390						3,129						—						31,519
Other long-term liabilities			154,029						59,971						1,952						215,952
Commitments and contingencies (Note 14)
Shareholders’ equity			2,149,696						1,155,814						(115,654)						3,189,856
			$	4,005,397					$	8,313,829					$	(303,665)					$	12,015,561

			Six months ended June 30, 2024
			Non-Financial Services Entities						Financial Services Entities						Consolidating Adjustments						Consolidated
Cash flows from operating activities:
Net income			$	355,095					$	92,533					$	11					$	447,639
Adjustments to reconcile Net income to Net cash provided by operating activities:
Depreciation and amortization			75,768						4,608						—						80,376
Amortization of deferred loan origination costs			—						36,466						—						36,466
Amortization of financing origination fees			360						6,433						—						6,793
Provision for long-term employee benefits			(26,143)						—						—						(26,143)
Employee benefit plan contributions and payments			(2,593)						—						—						(2,593)
Stock compensation expense			27,896						1,099						—						28,995
Net change in wholesale finance receivables related to sales			—						—						(388,030)						(388,030)
Provision for credit losses			—						117,040						—						117,040
Deferred income taxes			2,145						(1,445)						(554)						146
Other, net			13,339						1,637						(11)						14,965
Changes in current assets and liabilities:
Accounts receivable, net			(233,698)						—						167,771						(65,927)
Finance receivables – accrued interest and other			—						2,759						—						2,759
Inventories, net			235,539						—						—						235,539
Accounts payable and accrued liabilities			48,395						171,199						(155,428)						64,166
Other current assets			9,347						9,589						6,515						25,451
			150,355						349,385						(369,737)						130,003
Net cash provided by operating activities			505,450						441,918						(369,726)						577,642
Cash flows from investing activities:
Capital expenditures			(87,050)						(785)						—						(87,835)
Origination of finance receivables			—						(4,210,218)						2,114,266						(2,095,952)
Collections on finance receivables			—						3,531,504						(1,744,540)						1,786,964
Other investing activities			(1,206)						—						1,000						(206)
Net cash used by investing activities			(88,256)						(679,499)						370,726						(397,029)

			Six months ended June 30, 2024
			Non-Financial Services Entities						Financial Services Entities						Consolidating Adjustments						Consolidated
Cash flows from financing activities:
Proceeds from issuance of medium-term notes			—						495,856						—						495,856
Proceeds from securitization debt			—						547,618						—						547,618
Repayments of securitization debt			—						(506,489)						—						(506,489)
Borrowings of asset-backed commercial paper			—						351,429						—						351,429
Repayments of asset-backed commercial paper			—						(125,654)						—						(125,654)
Net decrease in unsecured commercial paper			—						(379,743)						—						(379,743)
Net increase in deposits			—						56,007						—						56,007
Dividends paid			(47,359)						—						—						(47,359)
Repurchase of common stock			(209,675)						—						—						(209,675)
Other financing activities			8						1,000						(1,000)						8
Net cash (used) provided by financing activities			(257,026)						440,024						(1,000)						181,998
Effect of exchange rate changes on cash, cash equivalents and restricted cash			(10,595)						(226)						—						(10,821)
Net increase in cash, cash equivalents and restricted cash			$	149,573					$	202,217					$	—					$	351,790
Cash, cash equivalents and restricted cash:
Cash, cash equivalents and restricted cash, beginning of period			$	1,127,400					$	521,411					$	—					$	1,648,811
Net increase in cash, cash equivalents and restricted cash			149,573						202,217						—						351,790
Cash, cash equivalents and restricted cash, end of period			$	1,276,973					$	723,628					$	—					$	2,000,601

			Six months ended June 30, 2023
			Non-Financial Services Entities						Financial Services Entities						Consolidating Adjustments						Consolidated
Cash flows from operating activities:
Net income			$	387,258					$	88,320					$	81					$	475,659
Adjustments to reconcile Net income to Net cash provided by operating activities:
Depreciation and amortization			67,720						4,505						—						72,225
Amortization of deferred loan origination costs			—						44,393						—						44,393
Amortization of financing origination fees			354						6,154						—						6,508
Provision for long-term employee benefits			(33,656)						—						—						(33,656)
Employee benefit plan contributions and payments			(2,882)						—						—						(2,882)
Stock compensation expense			42,174						2,239						—						44,413
Net change in wholesale finance receivables related to sales			—						—						(267,942)						(267,942)
Provision for credit losses			—						109,642						—						109,642
Deferred income taxes			233						(4,413)						(71)						(4,251)
Other, net			(25,290)						(5,788)						(82)						(31,160)
Changes in current assets and liabilities:
Accounts receivable, net			(147,730)						—						68,199						(79,531)
Finance receivables – accrued interest and other			—						3,189						—						3,189
Inventories, net			94,636						—						—						94,636
Accounts payable and accrued liabilities			(30,340)						80,563						(66,270)						(16,047)
Other current assets			(12,329)						6,836						817						(4,676)
			(47,110)						247,320						(265,349)						(65,139)
Net cash provided by operating activities			340,148						335,640						(265,268)						410,520
Cash flows from investing activities:
Capital expenditures			(85,401)						(1,125)						—						(86,526)
Origination of finance receivables			—						(4,076,675)						1,947,692						(2,128,983)
Collections on finance receivables			—						3,551,887						(1,682,424)						1,869,463
Other investing activities			(1,650)						—						2,500						850
Net cash used by investing activities			(87,051)						(525,913)						267,768						(345,196)

			Six months ended June 30, 2023
			Non-Financial Services Entities						Financial Services Entities						Consolidating Adjustments						Consolidated
Cash flows from financing activities:
Proceeds from issuance of medium-term notes			—						1,446,304						—						1,446,304
Repayments of medium-term notes			—						(1,056,680)						—						(1,056,680)
Proceeds from securitization debt			—						547,706						—						547,706
Repayments of securitization debt			—						(645,377)						—						(645,377)
Borrowings of asset-backed commercial paper			—						33,547						—						33,547
Repayments of asset-backed commercial paper			—						(129,961)						—						(129,961)
Net decrease in unsecured commercial paper			—						(75,229)						—						(75,229)
Net increase in deposits			—						122,288						—						122,288
Dividends paid			(48,193)						—						—						(48,193)
Repurchase of common stock			(169,645)						—						—						(169,645)
Other financing activities			76						2,500						(2,500)						76
Net cash (used) provided by financing activities			(217,762)						245,098						(2,500)						24,836
Effect of exchange rate changes on cash, cash equivalents and restricted cash			(729)						239						—						(490)
Net increase in cash, cash equivalents and restricted cash			$	34,606					$	55,064					$	—					$	89,670
Cash, cash equivalents and restricted cash:
Cash, cash equivalents and restricted cash, beginning of period			$	1,021,798					$	557,379					$	—					$	1,579,177
Net increase in cash, cash equivalents and restricted cash			34,606						55,064						—						89,670
Cash, cash equivalents and restricted cash, end of period			$	1,056,404					$	612,443					$	—					$	1,668,847

X

- Definition

The entire disclosure for condensed financial statements.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name Regulation S-X (SX)
-Number 210
-Section 12
-Subsection 04
-Paragraph a
-Publisher SEC

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

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X

- References

No definition available.

+ Details

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Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
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