Harley Davidson 2012 Annual Report Download - page 58

Download and view the complete annual report

Please find page 58 of the 2012 Harley Davidson annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 143

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143

58
HARLEY-DAVIDSON, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
Years ended December 31, 2012, 2011 and 2010
(In thousands)
2012 2011 2010
Net cash provided by operating activities of continuing operations (Note 2) $ 801,458 $ 885,291 $ 1,163,418
Cash flows from investing activities of continuing operations:
Capital expenditures (189,002)(189,035)(170,845)
Origination of finance receivables (2,858,701)(2,622,024)(2,252,532)
Collections on finance receivables 2,768,089 2,760,049 2,668,962
Purchases of marketable securities (4,993)(142,653)(184,365)
Sales and redemptions of marketable securities 23,296 130,121 84,217
Net cash (used) provided by investing activities of continuing operations (261,311)(63,542) 145,437
Cash flows from financing activities of continuing operations:
Proceeds from issuance of medium-term notes 993,737 447,076 —
Repayments of medium-term notes (420,870)(59,211)(200,000)
Repayment of senior unsecured notes — — (380,757)
Proceeds from securitization debt 763,895 1,082,599 598,187
Repayments of securitization debt (1,405,599)(1,754,568)(1,896,665)
Borrowings of asset-backed commercial paper 200,417 — —
Repayments of asset-backed commercial paper (24,301)(483)(845)
Net (decrease) increase in credit facilities and unsecured commercial paper (744,724) 237,827 30,575
Net change in restricted cash 41,647 59,232 77,654
Dividends (141,681)(111,011)(94,145)
Purchase of common stock for treasury (311,632)(224,548)(1,706)
Excess tax benefits from share-based payments 13,065 6,303 3,767
Issuance of common stock under employee stock option plans 45,973 7,840 7,845
Net cash used by financing activities of continuing operations (990,073)(308,944)(1,856,090)
Effect of exchange rate changes on cash and cash equivalents of continuing
operations (8,886)(7,788) 4,940
Net (decrease) increase in cash and cash equivalents of continuing operations (458,812) 505,017 (542,295)
Cash flows from discontinued operations:
Cash flows from operating activities of discontinued operations — — (71,073)
Cash flows from investing activities of discontinued operations ———
Effect of exchange rate changes on cash and cash equivalents of discontinued
operations — — (1,195)
— — (72,268)
Net (decrease) increase in cash and cash equivalents $(458,812) $ 505,017 $ (614,563)
Cash and cash equivalents:
Cash and cash equivalents—beginning of period $ 1,526,950 $ 1,021,933 $ 1,630,433
Cash and cash equivalents of discontinued operations—beginning of period — — 6,063
Net (decrease) increase in cash and cash equivalents (458,812) 505,017 (614,563)
Less: Cash and cash equivalents of discontinued operations—end of period ———
Cash and cash equivalents—end of period $ 1,068,138 $ 1,526,950 $ 1,021,933
The accompanying notes are an integral part of the consolidated financial statements.