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Harleydavidson, Inc. (HOG) SEC Filing 10-Q Quarterly Report for the period ending Sunday, March 27, 2022

SEC Filings

HOG Quarterly Reports

Harley Davidson Inc

CIK: 793952 Ticker: HOG


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FOR IMMEDIATE RELEASE


Harley-Davidson Delivers First Quarter Financial Results


MILWAUKEE (April 27, 2022) –
Harley-Davidson, Inc. (“Harley-Davidson”) (NYSE:HOG) today reported first quarter results.

“As we enter the second year of our five-year Hardwire strategic plan, we are pleased to see strong consumer demand for Harley-Davidson products across all regions. Our teams continue to work through the impact of the ongoing global supply chain disruption, and despite the challenging macro environment, we are optimistic for improvements in the second half of the year.”

First Quarter 2022 Highlights and Results

HDMC revenue growth of 6 percent driven by global motorcycle pricing and growth across Parts & Accessories and Apparel
HDMC Operating Income margin of 15.6%, which was down 2.9 points versus last year; global pricing was able to offset cost inflation, but margin was negatively impacted by lower shipments due to the ongoing semi-conductor shortage
HDFS Operating Income decline of -27 percent driven by the significant loss reserve release in 2021 and the normalization of losses in 2022 in-line with expectations
GAAP diluted EPS of $1.45; repurchased $248 million of shares (or 6.2 million shares) on a discretionary basis in Q1
Company reaffirms its full-year 2022 outlook
Merger transaction between LiveWire and AEA-Bridges Impact Corporation on track to close in mid-2022

First Quarter 2022 Results

Harley-Davidson, Inc. Consolidated Financial Results

$ in millions (except EPS)
1st quarter
20222021Change
Revenue$1,495 $1,423 %
Operating Income$289 $346 (16%)
Net Income$223 $259 (14%)
GAAP Diluted EPS$1.45 $1.68 (14%)

Consolidated revenue was up 5 percent in the first quarter versus Q1 2021 driven primarily by HDMC revenue growth of 6 percent. Operating income decline of 16 percent is a result of higher supply chain inflation, production challenges due to semi-conductor availability and HDFS losses returning to normalized levels following record lows in 2021.


The following information was filed by Harley Davidson Inc (HOG) on Wednesday, April 27, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Harley Davidson Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
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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 (Unaudited)
Consolidated Balance Sheets (Unaudited) (Parenthetical)
Consolidated Statements Of Cash Flows (Unaudited)
Consolidated Statements Of Comprehensive Income (Unaudited)
Consolidated Statements Of Operations (Unaudited)
Consolidated Statements Of Shareholders' Equity (Unaudited)
Consolidated Statements Of Shareholders' Equity (Unaudited) (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 - 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 - 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)
Basis Of Presentation And Use Of Estimates
Basis Of Presentation And Use Of Estimates (Details)
Basis Of Presentation And Use Of Estimates (Policies)
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)
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) (Details)
Derivative Financial Instruments And Hedging Activities - Amount Of Gains And Losses Related To Derivative Financial Instruments (Details)
Derivative Financial Instruments And Hedging Activities - Derivative Instrument Fair Value (Details)
Derivative Financial 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 - 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)
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
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
Reportable Segments (Details)
Reportable Segments (Tables)
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)
Subsequent Event
Subsequent Event (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: 0000793952-22-000036
Submitted to the SEC: Thu May 05 2022 11:42:43 AM EST
Accepted by the SEC: Thu May 05 2022
Period: Sunday, March 27, 2022
Industry: Motorcycles Bicycles And Parts

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