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Harleydavidson, Inc. (HOG) SEC Filing 10-Q Quarterly report for the period ending Sunday, June 28, 2020

SEC Filings

Harley Davidson Inc

CIK: 793952 Ticker: HOG


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FOR IMMEDIATE RELEASE

Harley-Davidson Overhauls Business, Rewires Company for Success;
Second Quarter 2020 Results Reflect COVID-19 Impact and Response

MILWAUKEE (July 28, 2020) –
Harley-Davidson, Inc. (“Harley-Davidson”) (NYSE:HOG) today announced actions it has taken to rewire the company, setting the foundation for a 5-year plan as the most desirable motorcycle brand in the world. The company also reported second quarter 2020 financial results, and its ongoing actions to manage the impacts of COVID-19 on its business.

“I’m very pleased with our accomplishments in these times of extraordinary challenges and uncertainty. Through all of this, we have made significant progress toward the goals of The Rewire; the positive feedback from key stakeholders and the early impacts we are seeing in the marketplace are very encouraging,” said Jochen Zeitz, chairman, president and CEO, Harley-Davidson. “A total rewire is necessary to make Harley-Davidson a high-performance company. Building on our strong brand legacy, we are reinvigorating our core profit driving business – powered by our strongest dealers, most exciting products and careful inventory management, while focusing on the most important opportunities for future expansion. We’re overhauling our operating model and our product plan and are rewiring our market structure and organization to focus on the strengths of our brand and company. We are now working on our new 5-year strategic plan, The Hardwire, which will be grounded in enhancing the desirability of our brand and protecting the value of our iconic products.”

New Operating Model: Reduced Complexity and Increased Speed
Vast changes to the company’s operating model under The Rewire include all areas of the business globally, from commercial operations to center-led support functions. Significant work has been undertaken to eliminate duplication, inefficiencies and complexity throughout the organization. As previously announced, the streamlined structure requires 700 fewer positions across its global operations.

Refined Motorcycle Line-Up and High-Impact Product Launches
The company plans to rewire its product offering to more precisely match customer desires and to strengthen the value of its products. The company will also improve product timing and go-to-market plans to achieve the greatest market impact.

Highlights of the new approach include:
Streamlining planned motorcycle models by approximately 30 percent; balancing investments between current stronghold categories and new, high-potential segments
Expanding product offerings of its best-selling, iconic motorcycles
Delivering its first Adventure Touring motorcycle - Pan America 1250 - in 2021
Shifting annual product launch timing from August to early in the first quarter
Reinvigorating launch efforts including collaborations with key influencers to bring the brand and new products to life drive brand desirability

Among other plans, the company is set to launch a new marketing campaign including a collaboration with Jason Momoa to celebrate the shared journey and unrelenting spirit of Harley-Davidson.





The following information was filed by Harley Davidson Inc (HOG) on Tuesday, July 28, 2020 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-Q Quarterly 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-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive (Loss) Income
Consolidated Statements Of Operations
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 - Inventories, Net (Details)
Additional Balance Sheet And Cash Flow Information - Marketable Securities (Details)
Additional Balance Sheet And Cash Flow Information - Reconciliation Of Net Income To Net Cash Used By Operating Activities (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 - Servicing Activities (Details)
Basis Of Presentation And Use Of Estimates
Basis Of Presentation And Use Of Estimates (Details)
Basis Of Presentation And Use Of Estimates (Policies)
Business Segments
Business Segments (Details)
Business Segments (Tables)
Commitments And Contingencies
Commitments And Contingencies (Details)
Debt
Debt (Tables)
Debt - Debt With A Contractual Term Greater Than One Year (Details)
Debt - Debt With Contractual Term Less Than One Year (Details)
Derivative Instruments And Hedging Activities
Derivative Instruments And Hedging Activities (Tables)
Derivative Instruments And Hedging Activities - Amount Of Gains And Losses Recognized In Income Related To Derivative Financial Instruments (Details) (Details)
Derivative Instruments And Hedging Activities - Amount Of Gains And Losses Related To Derivative Financial Instruments (Details)
Derivative Instruments And Hedging Activities - Derivative Instrument Fair Value (Details)
Derivative Instruments And Hedging Activities - Gain Loss Recognized In Income On Hedged Derivatives (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Additional Information (Details)
Earnings Per Share - Reconciliation Of Earnings Per Share Basic And Diluted (Details)
Employee Benefit Plans
Employee Benefit Plans (Tables)
Employee Benefit Plans - Components Of Net Periodic Benefit Costs (Details)
Fair Value
Fair Value (Tables)
Fair Value - Additional Information (Details)
Fair Value - Summary Of Assets And Liabilities Measured At Fair Value (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 - Allowance For Credit Losses And Finance Receivables By Portfolio, Individually And Collectively Evaluated For Impairment (Details)
Finance Receivables - Changes In Allowance For Credit Losses On 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 Finance Receivables Impaired Under Asc 310 (Details)
Goodwill, Intangible And Long-Lived Assets
Goodwill, Intangible And Long-Lived Assets (Details)
Income Taxes
Income Taxes (Details)
Leases
Leases (Tables)
Leases - Additional Information (Details)
Leases - Future Maturities Of Lease Liabilities (Details)
Leases - Other Lease Information (Details)
Leases - Supplemental Balance Sheet Information (Details)
New Accounting Standards
New Accounting Standards (Details)
New Accounting Standards (Tables)
Organization, Consolidation And Presentation Of Financial Statements (Tables)
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)
Restructuring Activities
Restructuring Activities (Tables)
Restructuring Activities - Additional Information (Details)
Restructuring Activities - Restructuring Expenses (Details)
Restructuring Activities - Restructuring Plan Reserve Recorded In Accrued Liabilities (Details)
Revenue
Revenue (Tables)
Revenue - Additional Information (Details)
Revenue - Contract Liabilities (Details)
Revenue - Disaggregation Of Revenue (Details)
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-Q Quarterly Report
Accession Number: 0000793952-20-000093
Submitted to the SEC: Thu Aug 06 2020 11:55:03 AM EST
Accepted by the SEC: Thu Aug 06 2020
Period: Sunday, June 28, 2020
Industry: Motorcycles Bicycles And Parts

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