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Harleydavidson, Inc. (HOG) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2020

SEC Filings

Harley Davidson Inc

CIK: 793952 Ticker: HOG


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FOR IMMEDIATE RELEASE


Harley-Davidson
Resets Business to Execute The Hardwire Strategic Plan


MILWAUKEE (February 2, 2021) –
Harley-Davidson, Inc. (“Harley-Davidson”) (NYSE:HOG) today reported fourth quarter and full-year 2020 results.

“2020 was an extraordinary year in many ways and our team navigated many challenges. We managed COVID-19 impacts, kept our community well-being at the forefront, protected liquidity and delivered $250 million in cash savings. We also successfully overhauled the entire company through The Rewire, building a strong foundation to successfully implement our new 5-year strategic plan, The Hardwire,” said Jochen Zeitz, chairman, president and CEO, Harley-Davidson. “The entire Harley-Davidson team put forth tremendous effort in 2020 and we now have the right organization, structure and strategy in place to make step changes in our performance and enhance our position as the most desirable motorcycle brand in the world.”

2020 Highlights and Results

Delivered full year diluted EPS of $0.01 and adjusted diluted EPS of $0.77
Executed COVID-19 response:
prioritized employee well-being
provided support to our customers and dealers
maintained sufficient cash and liquidity
achieved $250 million of cash savings versus planned spending in 2020
Increased cash flow from operations $310 million from 2019 to $1.2 billion
Paid dividends of $0.44 per share for the full year
Overhauled and reset the cost structure of the business through The Rewire actions; effectively lowering our cost base by approximately $115 million
Delivered additional The Rewire results:
Streamlined product portfolio reducing planned number of models by 30 percent
Re-set motorcycle model year launch timing to align with seasonality
Exited 39 markets to sharpen focus on the approximately 50 highest-potential markets
Optimized dealer network, reducing total network by approximately 160 net global dealers in 2020
Dealer year-end inventory reduced 59 percent, driving improvements in motorcycle transaction prices and enhancing motorcycle value

The company continues its H-D#1 culture evolution to drive a high-performing and winning organization guided by its vision and mission.

The Rewire and H-D#1 efforts set the company on a new course and provide a solid foundation to execute its long-term strategic plan, The Hardwire, through 2025.



The following information was filed by Harley Davidson Inc (HOG) on Tuesday, February 2, 2021 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

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 - 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)
Asset-Backed Financing - Servicing Activities (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 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)
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 - 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, 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)
Finance Receivables - Wholesale Finance Receivables Impaired Under Asc 310 (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 - 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)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - New Accounting Standards (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-K Annual Report
Accession Number: 0000793952-21-000010
Submitted to the SEC: Tue Feb 23 2021 2:10:35 PM EST
Accepted by the SEC: Tue Feb 23 2021
Period: Thursday, December 31, 2020
Industry: Motorcycles Bicycles And Parts

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