Harley Davidson 2012 Annual Report Download - page 35

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35
Motorcycle Unit Shipments
The following table includes wholesale motorcycle unit shipments for the Motorcycles segment:
2011 2010 Increase
(Decrease) %
Change
United States 152,180 65.3% 131,636 62.5% 20,544 15.6 %
International 80,937 34.7% 78,858 37.5% 2,079 2.6
Harley-Davidson motorcycle units 233,117 100.0% 210,494 100.0% 22,623 10.7 %
Touring motorcycle units 92,002 39.5% 81,927 38.9% 10,075 12.3 %
Custom motorcycle units*91,459 39.2% 87,158 41.4% 4,301 4.9
Sportster motorcycle units 49,656 21.3% 41,409 19.7% 8,247 19.9
Harley-Davidson motorcycle units 233,117 100.0% 210,494 100.0% 22,623 10.7 %
Buell motorcycle units 274 2,614 (2,340) (89.5)%
* Custom motorcycle units, as used in this table, include Dyna, Softail, V-Rod and CVO models.
During 2011, wholesale shipments of Harley-Davidson motorcycles were up 10.7% compared to the prior year.
Temporary production constraints resulting from restructuring efforts at the Company’s York facility that impacted its
production for 2011 eased during the fourth quarter of 2011, allowing a slightly higher mix of Touring motorcycles compared
to the prior year. Sportster shipment mix was also higher than in 2010 and near the high end of the historical range of 18% to
22% due to strong retail demand for Sportster models.
Segment Results
The following table includes the condensed statement of operations for the Motorcycles segment (in thousands):
2011 2010 Increase
(Decrease) %
Change
Revenue:
Harley-Davidson motorcycles $ 3,553,291 $ 3,136,987 $ 416,304 13.3%
Buell motorcycles 1,256 16,280 (15,024)(92.3)
Parts & Accessories 816,569 749,240 67,329 9.0
General Merchandise 274,124 259,125 14,999 5.8
Other 17,024 14,995 2,029 13.5
Total revenue 4,662,264 4,176,627 485,637 11.6
Cost of goods sold 3,106,288 2,749,224 357,064 13.0
Gross profit 1,555,976 1,427,403 128,573 9.0
Selling & administrative expense 788,565 756,177 32,388 4.3
Engineering expense 138,243 128,960 9,283 7.2
Restructuring expense 67,992 163,508 (95,516)(58.4)
Operating expense 994,800 1,048,645 (53,845)(5.1)
Operating income from motorcycles $ 561,176 $ 378,758 $ 182,418 48.2%