Harley Davidson 2013 Annual Report Download - page 52

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52
HARLEY-DAVIDSON, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
Years ended December 31, 2013, 2012 and 2011
(In thousands, except per share amounts)
2013 2012 2011
Revenue:
Motorcycles and related products $ 5,258,290 $ 4,942,582 $ 4,662,264
Financial services 641,582 637,924 649,449
Total revenue 5,899,872 5,580,506 5,311,713
Costs and expenses:
Motorcycles and related products cost of goods sold 3,395,918 3,222,394 3,106,288
Financial services interest expense 165,491 195,990 229,492
Financial services provision for credit losses 60,008 22,239 17,031
Selling, administrative and engineering expense 1,126,884 1,111,232 1,060,943
Restructuring (benefit) expense and asset impairment (2,131) 28,475 67,992
Total costs and expenses 4,746,170 4,580,330 4,481,746
Operating income 1,153,702 1,000,176 829,967
Investment income 5,859 7,369 7,963
Interest expense 45,256 46,033 45,266
Income before provision for income taxes 1,114,305 961,512 792,664
Provision for income taxes 380,312 337,587 244,586
Income from continuing operations 733,993 623,925 548,078
Income from discontinued operations, net of tax — — 51,036
Net income $ 733,993 $ 623,925 $ 599,114
Earnings per common share from continuing operations:
Basic $ 3.30 $ 2.75 $ 2.35
Diluted $ 3.28 $ 2.72 $ 2.33
Earnings per common share from discontinued operations:
Basic $ — $ — $ 0.22
Diluted $ — $ — $ 0.22
Earnings per common share:
Basic $ 3.30 $ 2.75 $ 2.57
Diluted $ 3.28 $ 2.72 $ 2.55
Cash dividends per common share $ 0.840 $ 0.620 $ 0.475
The accompanying notes are an integral part of the consolidated financial statements.