Harley Davidson 2014 Annual Report Download - page 51

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51
HARLEY-DAVIDSON, INC.
CONSOLIDATED STATEMENTS OF INCOME
Years ended December€31, 2014, 2013 and 2012
(In thousands, except per share amounts)
€
2014 2013 2012
Revenue:
Motorcycles and Related Products $5,567,681 $5,258,290 $4,942,582
Financial Services 660,827 641,582 637,924
Total revenue 6,228,508 5,899,872 5,580,506
Costs and expenses:
Motorcycles and Related Products cost of goods sold 3,542,601 3,395,918 3,222,394
Financial Services interest expense 164,476 165,491 195,990
Financial Services provision for credit losses 80,946 60,008 22,239
Selling, administrative and engineering expense 1,159,502 1,126,884 1,111,232
Restructuring (benefit) expense — (2,131)28,475
Total costs and expenses 4,947,525 4,746,170 4,580,330
Operating income 1,280,983 1,153,702 1,000,176
Investment income 6,499 5,859 7,369
Interest expense 4,162 45,256 46,033
Income before provision for income taxes 1,283,320 1,114,305 961,512
Provision for income taxes 438,709 380,312 337,587
Net income $844,611 $733,993 $623,925
Earnings per common share:
Basic $3.90 $3.30 $2.75
Diluted $3.88 $3.28 $2.72
Cash dividends per common share $1.10 $0.84 $0.62
The accompanying notes are an integral part of the consolidated financial statements.