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Harleydavidson, Inc. (HOG) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

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Harley Davidson Inc

CIK: 793952 Ticker: HOG


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FOR IMMEDIATE RELEASE


Harley-Davidson delivers strong fourth quarter financial results and successfully completes the first year of The Hardwire Five-year Strategic Plan


MILWAUKEE (February 8, 2022) –
Harley-Davidson, Inc. (“Harley-Davidson”) (NYSE:HOG) today reported fourth quarter and full year 2021 results.

“Harley-Davidson delivered a strong finish to the year, in which we have seen proof points on all elements of our Hardwire Strategy,” said Jochen Zeitz, Chairman, President and CEO, Harley-Davidson. “Looking ahead, we are fully committed to achieving our long-term Hardwire Strategy, as the most desirable motorcycle brand and company in the world.”

2021 Highlights and Results

Successfully completed the first year of The Hardwire Five-year Strategic Plan
Delivered full year GAAP diluted EPS of $4.19, up $4.18 vs. 2020
Grew Harley-Davidson’s total revenue by 32% behind increased shipments and favorable motorcycle unit mix resulting from our Hardwire actions
Achieved 9.0% GAAP operating margin for the Motorcycles and Related Products segment (“HDMC”), which was well ahead of prior year and +2.7 percentage points ahead of 2019
Record Financial Services segment (“HDFS”) operating income of $415 million, up 112%, driven by lower provision for credit losses and lower interest expense
Announced merger transaction for LiveWire with AEA-Bridges Impact Corporation; deal expected to close in the first half of 2022

Fourth Quarter 2021 Highlights and Results

Delivered GAAP diluted EPS of $0.14 versus a loss of $0.63 in Q4 2020
Grew Harley-Davidson's total revenue by 40% on higher units, profitable unit mix and pricing
HDMC achieved improved GAAP operating margin as Hardwire actions take effect
HDFS operating income growth of $18 million and 24% versus PY driven by lower interest expense

2022 Financial Outlook

For the full year 2022, the company expects:

HDMC revenue growth of 5 to 10%
HDMC operating income margin of 11 to 12%
HDFS operating income to decline by 20 to 25%
Capital investments of $190 million to $220 million

The outlook assumes that supply chain challenges improve in the second half of the year.

The company’s cash allocation priorities are to fund growth through The Hardwire initiatives, pay dividends, and execute discretionary share repurchases.







The following information was filed by Harley Davidson Inc (HOG) on Tuesday, February 8, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Harley Davidson Inc's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Income
Consolidated Statements Of Shareholders' Equity
Consolidated Statements Of Shareholders' Equity (Parenthetical)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss (Details)
Accumulated Other Comprehensive Loss (Tables)
Additional Balance Sheet And Cash Flow Information
Additional Balance Sheet And Cash Flow Information (Tables)
Additional Balance Sheet And Cash Flow Information - Accrued Liabilities (Details)
Additional Balance Sheet And Cash Flow Information - Certificates Of Deposit (Details)
Additional Balance Sheet And Cash Flow Information - Inventories, Net (Details)
Additional Balance Sheet And Cash Flow Information - Marketable Securities (Details)
Additional Balance Sheet And Cash Flow Information - Property, Plant And Equipment, At Cost (Details)
Additional Balance Sheet And Cash Flow Information - Reconciliation Of Net Income (Loss) To Net Cash Provided By Operating Activities Of Continuing Operations (Details)
Asset-Backed Financing
Asset-Backed Financing (Tables)
Asset-Backed Financing - Additional Information (Details)
Asset-Backed Financing - Assets And Liabilities Of Variable Interest Entities (Details)
Asset-Backed Financing - Schedule Of Secured Notes With Related Maturity (Details)
Capital Stock And Earnings Per Share
Capital Stock And Earnings Per Share (Tables)
Capital Stock And Earnings Per Share - Additional Information (Details)
Capital Stock And Earnings Per Share - Computation Of Basic And Diluted Earnings Per Share (Details)
Capital Stock And Earnings Per Share - Share Information (Details)
Commitments And Contingencies
Commitments And Contingencies (Details)
Consolidated Valuation And Qualifying Accounts
Consolidated Valuation And Qualifying Accounts (Details)
Debt
Debt (Tables)
Debt - Additional Information (Details)
Debt - Debt With A Contractual Term Greater Than One Year (Details)
Debt - Debt With Contractual Term Less Than One Year (Details)
Debt - Schedule Of Maturities Of Long-Term Debt (Details)
Derivative Financial Instruments And Hedging Activities
Derivative Financial Instruments And Hedging Activities (Tables)
Derivative Financial Instruments And Hedging Activities - Amount Of Gains And Losses Recognized In Income Related To Derivative Financial Instruments (Details)
Derivative Financial Instruments And Hedging Activities - Amount Of Gains And Losses Related To Derivative Financial Instruments (Details)
Derivative Financial Instruments And Hedging Activities - Gain Loss Recognized In Income On Hedged Derivatives (Details)
Derivative Financial Instruments And Hedging Activities - Schedule Of Derivative Instrument Fair Value) (Details)
Employee Benefit Plans And Other Postretirement Benefits
Employee Benefit Plans And Other Postretirement Benefits (Tables)
Employee Benefit Plans And Other Postretirement Benefits - Additional Information (Details)
Employee Benefit Plans And Other Postretirement Benefits - Components Of Net Periodic Benefit Costs (Details)
Employee Benefit Plans And Other Postretirement Benefits - Schedule Of Assumptions Used To Determine Net Periodic Benefit Cost (Details)
Employee Benefit Plans And Other Postretirement Benefits - Schedule Of Expected Benefit Payments For Next Five Years And Thereafter (Details)
Employee Benefit Plans And Other Postretirement Benefits - Schedule Of Fair Value Of Pension Plan And Postretirement Healthcare Plan Assets (Details)
Employee Benefit Plans And Other Postretirement Benefits - Schedule Of Obligation And Funded Status (Details)
Employee Benefit Plans And Other Postretirement Benefits - Schedule Of Pension Plans With Pbo And Abo In Excess Of Fair Value Of Plan Assets (Details)
Employee Benefit Plans And Other Postretirement Benefits - Schedule Of Weighted-Average Health Care Cost Trend Rate (Details)
Fair Value
Fair Value (Tables)
Fair Value - Summary Of Assets And Liabilities Measured At Fair Value On A Recurring Basis (Details)
Fair Value - Summary Of Fair Value And Carrying Value Of Company Financial Instruments (Details)
Finance Receivables
Finance Receivables (Tables)
Finance Receivables - Additional Information (Details)
Finance Receivables - Aging Of Past Due Finance Receivables Including Non-Accrual Status Finance Receivables (Details)
Finance Receivables - Changes In Allowance For Credit Losses On Finance Receivables (Details)
Finance Receivables - Contractual Maturities Of Finance Receivables (Details)
Finance Receivables - Finance Receivables, Net (Details)
Finance Receivables - Recorded Investment In Retail Finance Receivables, By Credit Quality Indicator (Details)
Finance Receivables - Recorded Investment Of Retail And Wholesale Finance Receivables By Credit Quality Indicator (Details)
Finance Receivables - Wholesale And Retail Receivables Accruing Interest And Are Past Due (Details)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables)
Goodwill And Intangible Assets - Additional Information (Details)
Goodwill And Intangible Assets - Changes In Carrying Amount Of Goodwill (Details)
Goodwill And Intangible Assets - Schedule Of Finite-Lived Intangible Assets Future Amortization Expense (Details)
Goodwill And Intangible Assets - Schedule Of Intangible Assets (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Details)
Income Taxes - Changes In Gross Liability For Unrecognized Tax Benefits Excluding Interest And Penalties (Details)
Income Taxes - Components Of Income Before Taxes (Details)
Income Taxes - Principal Components Of The Company's Deferred Tax Assets And Liabilities (Details)
Income Taxes - Provision For Income Tax Rate To Statutory Rate Reconciliation (Details)
Income Taxes - Provision For Income Taxes (Details)
Income Taxes - Schedule Of Gross State Operating Loss Carryforwards (Details)
Leases
Leases (Tables)
Leases - Additional Information (Details)
Leases - Other Lease Information (Details)
Leases - Schedule Of Future Minimum Operating Lease Payments (Details)
Leases - Supplemental Balance Sheet Information (Details)
Product Warranty And Recall Campaigns
Product Warranty And Recall Campaigns (Tables)
Product Warranty And Recall Campaigns - Additional Information (Details)
Product Warranty And Recall Campaigns - Warranty And Recall Liability (Details)
Reportable Segments And Geographic Information
Reportable Segments And Geographic Information (Tables)
Reportable Segments And Geographic Information - Information By Industry Segment (Details)
Reportable Segments And Geographic Information - Information By Strategic Business Units (Details)
Reportable Segments And Geographic Information - Segment Information By Geographical Locations) (Details)
Restructuring Activities
Restructuring Activities (Tables)
Restructuring Activities - Additional Information (Details)
Restructuring Activities - Restructuring Expense (Details)
Restructuring Activities - Restructuring Plan Reserve Recorded In Accrued Liabilities (Details)
Revenue
Revenue (Tables)
Revenue - Contract Liabilities (Details)
Revenue - Disaggregation Of Revenue (Details)
Revenue - Performance Obligations (Details)
Share-Based Awards
Share-Based Awards (Tables)
Share-Based Awards - Additional Information (Details)
Share-Based Awards - Aggregate Intrinsic Value (Details)
Share-Based Awards - Assumptions Used To Calculate Fair Value (Details)
Share-Based Awards - Stock Options Outstanding By Price Range (Details)
Share-Based Awards - Summary Of Restricted Share And Rsus Transactions (Details)
Share-Based Awards - Summary Of Stock Option Transactions (Details)
Subsequent Event
Subsequent Event (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Details)
Summary Of Significant Accounting Policies (Policies)
Supplemental Consolidating Data
Supplemental Consolidating Data (Tables)
Supplemental Consolidating Data - Balance Sheet (Details)
Supplemental Consolidating Data - Cash Flows (Details)
Supplemental Consolidating Data - Operations (Details)
Ticker: HOG
CIK: 793952
Form Type: 10-K Annual Report
Accession Number: 0000793952-22-000014
Submitted to the SEC: Fri Feb 25 2022 2:17:07 PM EST
Accepted by the SEC: Fri Feb 25 2022
Period: Friday, December 31, 2021
Industry: Motorcycles Bicycles And Parts

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