Harley Davidson 2011 Annual Report Download - page 21

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In thousands, except per-share amounts 2011 2010 2009
Statement of Operations Data:
Motorcycles and related products revenue $ 4,662,264 $ 4,176,627 $ 4,287,130
Gross profit
1,555,976 1,427,403 1,386,196
Selling, administrative and engineering expense 926,808 885,137 851,165
Restructuring expense and other impairments 67,992 163,508 220,976
Operating income from motorcycles & related products 561,176 378,758 314,055
Financial services revenue 649,449 682,709 494,779
Financial services expense 380,658 500,836 581,059
Restructuring expense – – 3,302
Goodwill impairment – – 28,387
Operating income (loss) from financial services 268,791 181,873 (117,969)
Operating income 829,967 560,631 196,086
Investment income 7,963 5,442 4,254
Interest expense 45,266 90,357 21,680
Loss on debt extinguishment – 85,247 –
Income before provision for income taxes 792,664 390,469 178,660
Provision for income taxes 244,586 130,800 108,019
Income from continuing operations 548,078 259,669 70,641
Income (loss) from discontinued operations, net of tax 51,036 (113,124) (125,757)
Net income (loss) $ 599,114 $ 146,545 $ (55,116)
Earnings per common share from continuing operations:
Basic $ 2.35 $ 1.11 $ 0.30
Diluted $ 2.33 $ 1.11 $ 0.30
Earnings (loss) per common share from discontinued operations:
Basic $ 0.22 $ (0.48) $ (0.54)
Diluted $ 0.22 $ (0.48) $ (0.54)
Earnings (loss) per common share:
Basic $ 2.57 $ 0.63 $ (0.24)
Diluted $ 2.55 $ 0.62 $ (0.24)
Weighted-average common shares:
Basic 232,889 233,312 232,577
Diluted 234,918 234,787 233,573
Cash dividends per common share $ 0.475 $ 0.40 $ 0.40
Consolidated Balance Sheet Data (at December 31):
Total assets $ 9,674,164 $ 9,430,740 $ 9,155,518
Total debt $ 5,722,619 $ 5,752,356 $ 5,636,129
Total equity $ 2,420,256 $ 2,206,866 $ 2,108,118
25,000
20,000
15,000
10,000
5,000
0
92 06
050403020100999897969593 94 07 08
220
1,433
242
1,686
245
2,152
337
2,224
414
3,650
553
4,257
710
7,434
860
10,084
782
12,544
689
17,169
537
14,645
690
15,133
766
19,476
803
16,709
930
23,191
981
15,687
618
5,956
09
782
9,061
10
899
12,641
11
918
14,352
Harley-Davidson, Inc. Common Stock vs. Standard & Poor’s 500 Composite Index
In dollars
S&P 500 H-D Comparison of year-end value of $100 invested Dec. 31, 1986. Assumes for both Harley-Davidson and S&P that all dividends are reinvested.
19