Harley Davidson 2012 Annual Report Download - page 115

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115
Schedule II
HARLEY-DAVIDSON, INC.
CONSOLIDATED VALUATION AND QUALIFYING ACCOUNTS
Years ended December 31, 2012, 2011 and 2010
(In thousands)
2012 2011 2010
Accounts receivable – allowance for doubtful accounts
Balance at beginning of period $ 4,952 $ 10,357 $ 11,409
Provision charged to expense 424 1,408 3,216
Reserve adjustments (401)(6,633)(3,837)
Write-offs, net of recoveries (21)(180)(431)
Balance at end of period $ 4,954 $ 4,952 $ 10,357
Finance receivables – allowance for credit losses
Balance at beginning of period $ 125,449 $ 173,589 $ 150,082
Allowance related to newly consolidated finance receivables(a) — — 49,424
Provision for credit losses 22,239 17,031 93,118
Charge-offs, net of recoveries (40,021)(65,171)(119,035)
Balance, end of period $ 107,667 $ 125,449 $ 173,589
Inventories – allowance for obsolescence(b)
Balance at beginning of period $ 23,204 $ 34,180 $ 34,745
Provision charged to expense 9,489 4,885 17,142
Reserve adjustments (696)(466) 636
Write-offs, net of recoveries (9,061)(15,395)(18,343)
Balance at end of period $ 22,936 $ 23,204 $ 34,180
Deferred tax assets – valuation allowance
Balance at beginning of period $ 14,914 $ 27,048 $ 22,170
Adjustments 1,400 (12,134) 4,878
Balance at end of period $ 16,314 $ 14,914 $ 27,048
(a) As part of the required consolidation of formerly off-balance sheet securitization trusts, the Company consolidated a $49.4 million allowance for credit
losses related to the newly consolidated finance receivables.
(b) Inventory obsolescence reserves deducted from cost determined on first-in first-out (FIFO) basis, before deductions for last-in, first-out (LIFO)
valuation reserves.