Harley Davidson 2013 Annual Report Download - page 56

Download and view the complete annual report

Please find page 56 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

56
HARLEY-DAVIDSON, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
Years ended December 31, 2013, 2012 and 2011
(In thousands)
2013 2012 2011
Net cash provided by operating activities of continuing operations (Note 2) $ 977,093 $ 801,458 $ 885,291
Cash flows from investing activities of continuing operations:
Capital expenditures (208,321)(189,002)(189,035)
Origination of finance receivables (3,244,005)(2,858,701)(2,622,024)
Collections on finance receivables 2,831,994 2,768,089 2,760,049
Purchases of marketable securities (4,998)(4,993)(142,653)
Sales and redemptions of marketable securities 40,108 23,296 130,121
Other 16,355 — —
Net cash used by investing activities of continuing operations (568,867)(261,311)(63,542)
Cash flows from financing activities of continuing operations:
Proceeds from issuance of medium-term notes — 993,737 447,076
Repayments of medium-term notes (27,858)(420,870)(59,211)
Proceeds from securitization debt 647,516 763,895 1,082,599
Repayments of securitization debt (840,387)(1,405,599)(1,754,568)
Borrowings of asset-backed commercial paper 88,456 200,417 —
Repayments of asset-backed commercial paper (78,765)(24,301)(483)
Net increase (decrease) in credit facilities and unsecured commercial paper 371,085 (744,724) 237,827
Net change in restricted cash 43,201 41,647 59,232
Dividends paid (187,688)(141,681)(111,011)
Purchase of common stock for treasury (479,231)(311,632)(224,548)
Excess tax benefits from share-based payments 19,895 13,065 6,303
Issuance of common stock under employee stock option plans 50,567 45,973 7,840
Net cash used by financing activities of continuing operations (393,209)(990,073)(308,944)
Effect of exchange rate changes on cash and cash equivalents (16,543)(8,886)(7,788)
Net (decrease) increase in cash and cash equivalents from continuing operations $(1,526) $ (458,812) $ 505,017
Cash and cash equivalents:
Cash and cash equivalents—beginning of period $ 1,068,138 $ 1,526,950 $ 1,021,933
Net (decrease) increase in cash and cash equivalents (1,526)(458,812) 505,017
Cash and cash equivalents—end of period $ 1,066,612 $ 1,068,138 $ 1,526,950
The accompanying notes are an integral part of the consolidated financial statements.