Capital Stock and Earnings Per Share

12 Months Ended

Dec. 31, 2023

Capital Stock – The Company is authorized to issue 2,000,000 shares of preferred stock of $1.00 par value, none of which is outstanding. The Company's common stock has a par value of $0.01 per share. Share information regarding the Company's common stock at December 31, was as follows:


	2023	2022
Common stock shares:
Authorized	800,000,000	800,000,000
Issued	171,218,640	170,400,212
Outstanding	136,312,009	145,862,632

Treasury stock shares	34,906,631	24,537,580

Discretionary share repurchases were $350.0 million or 10.2 million shares and $324.5 million or 8.4 million shares during the years ended December 31, 2023 and 2022, respectively. There were no discretionary share repurchases during the year ended December 31, 2021. Share repurchases of common stock that employees surrendered to satisfy withholding taxes in connection with the vesting of restricted stock units (RSUs) and performance shares were $14.0 million or 0.3 million

shares, $14.2 million or 0.4 million shares, and $11.6 million or 0.3 million shares during the years ended December 31, 2023, 2022 and 2021, respectively, as discussed further in Note 16.

The Company paid cash dividends of $0.66, $0.63, and $0.60 per share during the years ended December 31, 2023, 2022, and 2021, respectively.

Earnings Per Share – The computation of basic and diluted earnings per share for the years ended December 31, was as follows (in thousands except per share amounts):


	2023		2022		2021
Net income attributable to Harley-Davidson, Inc.	$	706,586	$	741,408	$	650,024

Basic weighted-average shares outstanding	142,378		148,012		153,747
Effect of dilutive securities – employee stock compensation plan	2,725		1,339		1,233
Diluted weighted-average shares outstanding	145,103		149,351		154,980
Earnings per share:
Basic	$	4.96	$	5.01	$	4.23
Diluted	$	4.87	$	4.96	$	4.19

Shares of common stock related to share-based compensation that were not included in the effect of dilutive securities because the effect would have been anti-dilutive include 1.0 million, 1.9 million and 0.5 million shares during 2023, 2022 and 2021, respectively.