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Harley Davidson Inc (HOG) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

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Harley Davidson Inc

CIK: 793952 Ticker: HOG




Harley-Davidson Announces Fourth Quarter, Full-Year 2018 Results

MILWAUKEE, January 29, 2019 -
Harley-Davidson, Inc. (NYSE:HOG) today reported fourth quarter and full-year 2018 results. On a full-year basis, earnings per share (EPS) was up year-over-year on positive revenue growth. The company achieved all stated 2018 milestones associated with its More Roads to Harley-Davidson accelerated plan for growth.

Full-Year 2018
More Roads accelerated plan for growth unveiled; all 2018 milestones achieved
Diluted EPS up 5.6 percent over prior year
Record Financial Services segment operating income
Cash from operations up over $200 million or 20 percent compared to 2017
Building new riders - over 52,000 more Harley-Davidson riders added in the U.S.
Motorcycles and Related Products segment (Motorcycles segment) revenue growth of 1.1 percent compared to 2017
International retail sales up year-over-year behind strong emerging market growth
Manufacturing optimization remains on track; 2018 costs lower than originally expected
Repurchased $382 million of shares; paid dividends totaling $1.48 per share, up 1.4 percent versus prior year

Full-year 2018 GAAP diluted EPS was $3.19, up 5.6 percent. Year ago GAAP diluted EPS was $3.02. Excluding restructuring plan costs (including manufacturing optimization) and the impact of incremental tariffs, 2018 diluted EPS was $3.78. Full-year 2018 net income was $531.5 million on consolidated revenue of $5.72 billion versus net income of $521.8 million on consolidated revenue of $5.65 billion in 2017.
Fourth quarter 2018 GAAP diluted EPS was $0.00. Year ago GAAP diluted EPS was $0.05. Excluding restructuring plan costs (including manufacturing optimization) and the impact of incremental tariffs, fourth quarter 2018 diluted EPS was $0.17. Fourth quarter 2018 net income was $0.5 million on consolidated revenue of $1.15 billion versus net income of $8.3 million on consolidated revenue of $1.23 billion in 2017.
Harley-Davidson international retail motorcycle sales for the full-year finished slightly ahead of 2017. U.S. retail sales fell 10.2 percent behind ongoing declines in the U.S. motorcycle industry. Worldwide retail sales decreased 6.1 percent in 2018.

“In 2018 we delivered value to our shareholders through improved earnings and cash from operations. The challenges we experienced during the year reinforced the commitment we have for our More Roads to Harley-Davidson accelerated plan for growth,” said Matt Levatich, president and chief executive officer, Harley-Davidson, Inc. “Our plan addresses the challenges of today and the opportunities we see for growth ahead, and we are energized by the momentum we are building. New and different people, riders and non-riders, are taking notice of Harley-Davidson and the thrill of riding.”

Strategy Acceleration
During the quarter, Harley-Davidson continued to make progress on the initiatives included in its More Roads to Harley-Davidson accelerated plan for growth to build the next generation of riders globally. Leveraging core strengths in the business, brand and dealer network, the company is investing in opportunities that inspire increased ridership sooner and deliver sustainable growth for the future. Harley-


The following information was filed by Harley Davidson Inc (HOG) on Tuesday, January 29, 2019 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

Document And Entity Information
Consolidated Valuation And Qualifying Accounts
Consolidated Valuation And Qualifying Accounts (Details)
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
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss (Changes In Other Comprehensive Income) (Details)
Accumulated Other Comprehensive Loss (Tables)
Additional Balance Sheet And Cash Flow Information
Additional Balance Sheet And Cash Flow Information (Accrued Liabilities) (Details)
Additional Balance Sheet And Cash Flow Information (Inventories, Net) (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)
Additional Balance Sheet And Cash Flow Information (Tables)
Asset-Backed Financing
Asset-Backed Financing (Assets And Liabilities Of Variable Interest Entities) (Detail)
Asset-Backed Financing (Narrative) (Detail)
Asset-Backed Financing (Schedule Of Secured Notes With Related Maturity) (Details)
Asset-Backed Financing (Servicing Activities) (Detail)
Asset-Backed Financing (Tables)
Capital Stock
Capital Stock (Narrative) (Details)
Capital Stock (Stock Repurchases Pursuant To Board Of Director Authorizations) (Details)
Capital Stock (Tables)
Commitments And Contingencies
Commitments And Contingencies (Site Contingency) (Details)
Debt
Debt (Debt With A Contractual Term Greater Than One Year) (Details)
Debt (Debt With Contractual Term Less Than One Year) (Details)
Debt (Narrative) (Details)
Debt (Schedule Of Maturities Of Long-Term Debt) (Details)
Debt (Tables)
Derivative Instruments And Hedging Activities
Derivative Instruments And Hedging Activities (Gain Loss On Derivative Cash Flow Hedges Recognized In Oci) (Details)
Derivative Instruments And Hedging Activities (Gain Loss Recognized In Income On Hedged Derivatives) (Details)
Derivative Instruments And Hedging Activities (Schedule Of Derivative Instrument Fair Value) (Details)
Derivative Instruments And Hedging Activities (Tables)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Narrative) (Details)
Earnings Per Share (Tables)
Employee Benefit Plans And Other Postretirement Benefits
Employee Benefit Plans And Other Postretirement Benefits (Components Of Net Periodic Benefit Costs) (Details)
Employee Benefit Plans And Other Postretirement Benefits (Narrative) (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 Net Periodic Benefit Cost Recognized In Accumulated And Other Comprehensive Income) (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)
Employee Benefit Plans And Other Postretirement Benefits (Tables)
Fair Value
Fair Value Fair Value (Summary Of Fair Value And Carrying Value Of Company Financial Instruments) (Detail)
Fair Value Measurements (Summary Of Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details)
Fair Value Measurements (Tables)
Finance Receivables
Finance Receivables (Aging Of Past Due Finance Receivables Including Non-Accrual Status Finance Receivables) (Details)
Finance Receivables (Allowance For Credit Losses And Finance Receivables By Portfolio, Individually And Collectively Evaluated For Impairment) (Details)
Finance Receivables (Changes In The Allowance For Finance Credit Losses On Finance Receivables) (Details)
Finance Receivables (Contractual Maturities Of Finance Receivables) (Details)
Finance Receivables (Finance Receivables) (Details)
Finance Receivables (Investment Of Wholesale Finance Receivables By Internal And External Credit Quality Indicator) (Details)
Finance Receivables (Narrative) (Details)
Finance Receivables (Tables)
Finance Receivables (Wholesale And Retail Receivables Accruing Interest And Are Past Due) (Details)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Details)
Goodwill And Intangible Assets (Schedule Of Finite-Lived Intangible Assets Future Amortization Expense) (Details)
Goodwill And Intangible Assets (Schedule Of Intangible Assets) (Details)
Goodwill And Intangible Assets Goodwill And Intangible Assets (Tables)
Income Taxes
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 (Narrative) (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 (Tables)
Leases
Leases (Schedule Of Future Minimum Operating Lease Payments) (Details)
Leases (Tables)
Reportable Segments And Geographic Information
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)
Reportable Segments And Geographic Information (Tables)
Restructuring
Restructuring (Restructuring Expenses) (Details)
Restructuring (Restructuring Plan Reserve Recorded In Accrued Liabilities) (Details)
Restructuring (Tables)
Revenue
Revenue (Contract Liabilities) (Details)
Revenue (Disaggregation Of Revenue) (Details)
Revenue (Performance Obligations) (Details)
Revenue (Tables)
Share-Based Awards
Share-Based Awards (Aggregate Intrinsic Value) (Details)
Share-Based Awards (Assumptions Used In Calculating Fair Value Of Stock Appreciation Rights) (Details)
Share-Based Awards (Narrative) (Details)
Share-Based Awards (Stock Options Outstanding By Price Range) (Details)
Share-Based Awards (Stock Options) (Narrative) (Details)
Share-Based Awards (Summary Of Restricted Share And Rsus Transactions) (Details)
Share-Based Awards (Summary Of Stock Appreciation Right Transactions) (Details)
Share-Based Awards (Summary Of Stock Option Transactions) (Details)
Share-Based Awards (Tables)
Subsequent Events
Subsequent Events (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Changes In Warranty And Safety Recall Liability) (Details)
Summary Of Significant Accounting Policies (Marketable Securities) (Details)
Summary Of Significant Accounting Policies (Narrative) (Details)
Summary Of Significant Accounting Policies (New Accounting Standards) (Expected Impact Of Adoption Of Asu 2016-02) (Details)
Summary Of Significant Accounting Policies (New Accounting Standards) (Impact Of Adoption Of 2018-02) (Details)
Summary Of Significant Accounting Policies (New Accounting Standards) (Impact Of Adoption Of Asu 2014-09) (Details)
Summary Of Significant Accounting Policies (New Accounting Standards) (Impact Of Adoption Of Asu 2017-07) (Details)
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Product Warranty And Recall) (Details)
Summary Of Significant Accounting Policies (Tables)
Supplemental Consolidating Data
Supplemental Consolidating Data (Balance Sheet) (Details)
Supplemental Consolidating Data (Cash Flows) (Details)
Supplemental Consolidating Data (Operations) (Details)
Supplemental Consolidating Data (Tables)
Ticker: HOG
CIK: 793952
Form Type: 10-K Annual Report
Accession Number: 0000793952-19-000008
Submitted to the SEC: Thu Feb 28 2019 4:17:31 AM EST
Accepted by the SEC: Thu Feb 28 2019
Period: Monday, December 31, 2018
Industry: Motorcycles Bicycles And Parts

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