Harley Davidson 2013 Annual Report Download - page 20

Download and view the complete annual report

Please find page 20 of the 2013 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 117

  • 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

20
Product Liability Matters:
Additionally, the Company is involved in product liability suits related to the operation of its business. The Company
accrues for claim exposures that are probable of occurrence and can be reasonably estimated. The Company also maintains
insurance coverage for product liability exposures. The Company believes that its accruals and insurance coverage are adequate
and that product liability suits will not have a material adverse effect on the Company’s consolidated financial statements.
Item 4. Mine Safety Disclosures
Not Applicable
PART II
Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchase of Equity
Securities
Harley-Davidson, Inc. common stock is traded on the New York Stock Exchange, Inc. The high and low market prices
for the common stock, reported as New York Stock Exchange, Inc. Composite Transactions, were as follows:
2013 Low High 2012 Low High
First quarter $ 48.40 $ 55.51 First quarter $ 38.93 $ 50.96
Second quarter $ 49.15 $ 59.84 Second quarter $ 43.79 $ 54.32
Third quarter $ 53.35 $ 65.15 Third quarter $ 37.84 $ 47.62
Fourth quarter $ 62.76 $ 69.75 Fourth quarter $ 40.59 $ 49.76
The Company paid the following dividends per share:
2013 2012 2011
First quarter $ 0.210 $ 0.155 $ 0.100
Second quarter 0.210 0.155 0.125
Third quarter 0.210 0.155 0.125
Fourth quarter 0.210 0.155 0.125
$ 0.840 $ 0.620 $ 0.475
As of January 31, 2014 there were 80,896 shareholders of record of Harley-Davidson, Inc. common stock.
The following table contains detail related to the repurchase of common stock based on the date of trade during the
quarter ended December 31, 2013:
2013 Fiscal Period Total Number of
Shares Purchased Average Price
Paid per Share
Total Number of Shares
Purchased as Part of
Publicly Announced
Plans or Programs
Maximum Number of
Shares that May Yet Be
Purchased Under the
Plans or Programs
October 1 to November 4 296,142 $ 64 296,142 10,845,427
November 5 to December 2 1,152,888 $ 65 1,152,888 9,795,346
December 3 to December 31 1,216,710 $ 68 1,216,710 8,623,274
Total 2,665,740 $ 66 2,665,740
The Company has an authorization (originally adopted in December 1997) by its Board of Directors to repurchase shares
of its outstanding common stock under which the cumulative number of shares repurchased, at the time of any repurchase, shall
not exceed the sum of (1) the number of shares issued in connection with the exercise of stock options occurring on or after
January 1, 2004 plus (2) one percent of the issued and outstanding common stock of the Company on January 1 of the current
year, adjusted for any stock split. No shares were repurchased by the Company during the fourth quarter ended December 31,
2013 under this authorization. As of December 31, 2013, there were 1.8 million shares available under this authorization.
In December 2007, the Company’s Board of Directors separately authorized the Company to buy back up to 20.0 million
shares of its common stock with no dollar limit or expiration date. The Company repurchased 2.7 million shares during the
fourth quarter ended December 31, 2013 under this authorization. As of December 31, 2013, 6.8 million shares remained under
this authorization.