Harley Davidson 2012 Annual Report Download - page 99
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99
Information by segment is set forth below for the years ended December 31 (in thousands):
2012 2011 2010
Motorcycles net revenue $ 4,942,582 $ 4,662,264 $ 4,176,627
Gross profit 1,720,188 1,555,976 1,427,403
Selling, administrative and engineering expense 976,224 926,808 885,137
Restructuring expense and other impairments 28,475 67,992 163,508
Operating income from Motorcycles $ 715,489 $ 561,176 $ 378,758
Financial services revenue $ 637,924 $ 649,449 $ 682,709
Financial services expense 353,237 380,658 500,836
Operating income from Financial Services $ 284,687 $ 268,791 $ 181,873
Financial Services revenue includes $11.5 million, $10.5 million and $9.2 million of interest that HDMC paid to HDFS
on wholesale finance receivables in 2012, 2011 and 2010, respectively. This interest was paid on behalf of HDMC’s
independent dealers as a way to enable dealers to manage seasonal increases in inventory. The offsetting cost of these interest
incentives was recorded as a reduction to Motorcycles revenue.
Information by industry segment is set forth below as of December 31 (in thousands):
Motorcycles Financial
Services Consolidated
2012
Total assets $ 2,751,018 $ 6,419,755 $ 9,170,773
Depreciation $ 162,659 $ 6,319 $ 168,978
Capital expenditures $ 180,416 $ 8,586 $ 189,002
2011
Total assets $ 2,959,333 $ 6,714,831 $ 9,674,164
Depreciation $ 173,959 $ 6,449 $ 180,408
Capital expenditures $ 179,988 $ 9,047 $ 189,035
2010
Total assets $ 2,701,965 $ 6,728,775 $ 9,430,740
Depreciation $ 248,246 $ 6,925 $ 255,171
Capital expenditures $ 167,730 $ 3,115 $ 170,845