Supplemental Consolidating Data

The supplemental consolidating data for the periods noted is presented for informational purposes. The supplemental consolidating data may be different than segment information presented elsewhere due to the allocation of intercompany eliminations to reporting segments. All supplemental data is presented in thousands.



	Year Ended December 31, 2012
	Motorcycles & Related Products Operations		Financial Services Operations		Eliminations			Consolidated
Revenue:
Motorcycles and related products	$	4,952,748	$	—	$	(10,166	)	$	4,942,582
Financial services	—		639,482		(1,558		)	637,924
Total revenue	4,952,748		639,482		(11,724		)	5,580,506
Costs and expenses:
Motorcycles and related products cost of goods sold	3,222,394		—		—			3,222,394
Financial services interest expense	—		195,990		—			195,990
Financial services provision for credit losses	—		22,239		—			22,239
Selling, administrative and engineering expense	977,782		145,174		(11,724		)	1,111,232
Restructuring expense	28,475		—		—			28,475
Total costs and expenses	4,228,651		363,403		(11,724		)	4,580,330
Operating income	724,097		276,079		—			1,000,176
Investment income	232,369		—		(225,000		)	7,369
Interest expense	46,033		—		—			46,033
Income before provision for income taxes	910,433		276,079		(225,000		)	961,512
Provision for income taxes	233,385		104,202		—			337,587
Income from continuing operations	677,048		171,877		(225,000		)	623,925
Income from discontinued operations, net of tax	—		—		—			—
Net income	$	677,048	$	171,877	$	(225,000	)	$	623,925



	Year Ended December 31, 2011
	Motorcycles & Related Products Operations		Financial Services Operations		Eliminations			Consolidated
Revenue:
Motorcycles and related products	$	4,671,942	$	—	$	(9,678	)	$	4,662,264
Financial services	—		649,474		(25		)	649,449
Total revenue	4,671,942		649,474		(9,703		)	5,311,713
Costs and expenses:
Motorcycles and related products cost of goods sold	3,106,288		—		—			3,106,288
Financial services interest expense	—		229,492		—			229,492
Financial services provision for credit losses	—		17,031		—			17,031
Selling, administrative and engineering expense	926,832		143,814		(9,703		)	1,060,943
Restructuring expense	67,992		—		—			67,992
Total costs and expenses	4,101,112		390,337		(9,703		)	4,481,746
Operating income	570,830		259,137		—			829,967
Investment income	132,963		—		(125,000		)	7,963
Interest expense	45,266		—		—			45,266
Income before provision for income taxes	658,527		259,137		(125,000		)	792,664
Provision for income taxes	150,756		93,830		—			244,586
Income from continuing operations	507,771		165,307		(125,000		)	548,078
Income from discontinued operations, net of tax	51,036		—		—			51,036
Net income	$	558,807	$	165,307	$	(125,000	)	$	599,114



	Year Ended December 31, 2010
	Motorcycles & Related Products Operations			Financial Services Operations		Eliminations			Consolidated
Revenue:
Motorcycles and related products	$	4,176,627		$	—	$	—		$	4,176,627
Financial services	—			683,329		(620		)	682,709
Total revenue	4,176,627			683,329		(620		)	4,859,336
Costs and expenses:
Motorcycles and related products cost of goods sold	2,749,224			—		—			2,749,224
Financial services interest expense	—			272,484		—			272,484
Financial services provision for credit losses	—			93,118		—			93,118
Selling, administrative and engineering expense	881,888			139,103		(620		)	1,020,371
Restructuring expense	163,508			—		—			163,508
Total costs and expenses	3,794,620			504,705		(620		)	4,298,705
Operating income	382,007			178,624		—			560,631
Investment income	5,442			—		—			5,442
Interest expense	90,357			—		—			90,357
Loss on debt extinguishment	85,247			—		—			85,247
Income before provision for income taxes	211,845			178,624		—			390,469
Provision for income taxes	66,495			64,305		—			130,800
Income from continuing operations	145,350			114,319		—			259,669
Loss from discontinued operations, net of tax	(113,124		)	—		—			(113,124		)
Net income	$	32,226		$	114,319	$	—		$	146,545



	December 31, 2012
	Motorcycles & Related Products Operations		Financial Services Operations		Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	727,716	$	340,422	$	—		$	1,068,138
Marketable securities	135,634		—		—			135,634
Accounts receivable, net	781,642		—		(551,563		)	230,079
Finance receivables, net	—		1,743,045		—			1,743,045
Inventories	393,524		—		—			393,524
Restricted cash	—		188,008		—			188,008
Deferred income taxes	84,486		26,367		—			110,853
Other current assets	146,419		31,242		3,994			181,655
Total current assets	2,269,421		2,329,084		(547,569		)	4,050,936
Finance receivables, net	—		4,038,807		—			4,038,807
Property, plant and equipment, net	783,068		32,396		—			815,464
Goodwill	29,530		—		—			29,530
Deferred income taxes	175,839		—		(3,994		)	171,845
Other long-term assets	116,925		19,468		(72,202		)	64,191
	$	3,374,783	$	6,419,755	$	(623,765	)	$	9,170,773
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	221,064	$	587,885	$	(551,563	)	$	257,386
Accrued liabilities	439,144		74,447		—			513,591
Short-term debt	—		294,943		—			294,943
Current portion of long-term debt	—		437,162		—			437,162
Total current liabilities	660,208		1,394,437		(551,563		)	1,503,082
Long-term debt	303,000		4,067,544		—			4,370,544
Pension liability	330,294		—		—			330,294
Postretirement healthcare liability	278,062		—		—			278,062
Other long-term liabilities	114,476		16,691		—			131,167
Commitments and contingencies (Note 16)
Total shareholders’ equity	1,688,743		941,083		(72,202		)	2,557,624
	$	3,374,783	$	6,419,755	$	(623,765	)	$	9,170,773



	December 31, 2011
	Motorcycles & Related Products Operations		Financial Services Operations		Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	943,330	$	583,620	$	—		$	1,526,950
Marketable securities	153,380		—		—			153,380
Accounts receivable, net	393,615		—		(174,576		)	219,039
Finance receivables, net	—		1,760,467		—			1,760,467
Inventories	418,006		—		—			418,006
Restricted cash	—		229,655		—			229,655
Deferred income taxes	96,120		36,211		—			132,331
Other current assets	71,303		31,075		—			102,378
Total current assets	2,075,754		2,641,028		(174,576		)	4,542,206
Finance receivables, net	—		4,026,214		—			4,026,214
Property, plant and equipment, net	779,330		30,129		—			809,459
Goodwill	29,081		—		—			29,081
Deferred income taxes	203,605		2,538		(3,704		)	202,439
Other long-term assets	118,774		14,922		(68,931		)	64,765
	$	3,206,544	$	6,714,831	$	(247,211	)	$	9,674,164
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable	220,957		209,332		(174,576		)	255,713
Accrued liabilities	482,838		85,038		(3,704		)	564,172
Short-term debt	—		838,486		—			838,486
Current portion of long-term debt	—		1,040,247					1,040,247
Total current liabilities	703,795		2,173,103		(178,280		)	2,698,618
Long-term debt	303,000		3,540,886		—			3,843,886
Pension liability	302,483		—		—			302,483
Postretirement healthcare liability	268,582		—		—			268,582
Other long-term liabilities	126,036		14,303		—			140,339
Commitments and contingencies (Note 16)
Total shareholders’ equity	1,502,648		986,539		(68,931		)	2,420,256
	3,206,544		6,714,831		(247,211		)	9,674,164



	Year Ended December 31, 2012
	Motorcycles & Related Products Operations			Financial Services Operations			Eliminations & Adjustments			Consolidated
Cash flows from operating activities:
Income from continuing operations	$	677,048		$	171,877		$	(225,000	)	$	623,925
Adjustments to reconcile income from continuing operations to cash provided by operating activities:
Depreciation	162,659			6,319			—			168,978
Amortization of deferred loan origination costs	—			78,592			—			78,592
Amortization of financing origination fees	473			9,496			—			9,969
Provision for employee long-term benefits	67,612			3,735			—			71,347
Contributions to pension and postretirement plans	(244,416		)	—			—			(244,416		)
Stock compensation expense	37,544			3,271			—			40,815
Net change in wholesale finance receivables	—			—			2,513			2,513
Provision for credit losses	—			22,239			—			22,239
Loss on debt extinguishment	—			4,323			—			4,323
Pension and postretirement healthcare plan curtailment and settlement expense	6,242			—			—			6,242
Deferred income taxes	117,772			10,680			—			128,452
Foreign currency adjustments	9,773			—			—			9,773
Other, net	(2,290		)	(4,926		)	—			(7,216		)
Change in current assets and current liabilities:
Accounts receivable	9,323			—			(23,013		)	(13,690		)
Finance receivables—accrued interest and other	—			(4		)	—			(4		)
Inventories	21,459			—			—			21,459
Accounts payable and accrued liabilities	(6,368		)	(27,443		)	23,013			(10,798		)
Restructuring reserves	(16,087		)	—			—			(16,087		)
Derivative instruments	2,906			(148		)	—			2,758
Prepaid and other	(95,162		)	(2,554		)	—			(97,716		)
Total adjustments	71,440			103,580			2,513			177,533
Net cash provided by operating activities of continuing operations	748,488			275,457			(222,487		)	801,458

Cash flows from investing activities of continuing operations:
Capital expenditures	(180,416		)	(8,586		)	—			(189,002		)
Origination of finance receivables	—			(6,544,828		)	3,686,127			(2,858,701		)
Collections of finance receivables	—			6,456,729			(3,688,640		)	2,768,089
Purchases of marketable securities	(4,993		)	—			—			(4,993		)
Sales and redemptions of marketable securities	23,296			—			—			23,296
Net cash (used by) provided by investing activities of continuing operations	(162,113		)	(96,685		)	(2,513		)	(261,311		)
Cash flows from financing activities of continuing operations:
Proceeds from issuance of medium-term notes	—			993,737			—			993,737
Repayments of medium-term notes	—			(420,870		)	—			(420,870		)
Intercompany borrowing activity	(400,000		)	400,000			—			—
Proceeds from securitization debt	—			763,895			—			763,895
Repayments of securitization debt	—			(1,405,599		)	—			(1,405,599		)
Borrowings of asset-backed commercial paper	—			200,417			—			200,417
Repayments of asset-backed commercial paper	—			(24,301		)	—			(24,301		)
Net (decrease) increase in credit facilities and unsecured commercial paper	—			(744,724		)	—			(744,724		)
Net change in restricted cash	—			41,647			—			41,647
Dividends	(141,681		)	(225,000		)	225,000			(141,681		)
Purchase of common stock for treasury	(311,632		)	—			—			(311,632		)
Excess tax benefits from share-based payments	13,065			—			—			13,065
Issuance of common stock under employee stock option plans	45,973			—			—			45,973



Net cash used by financing activities of continuing operations	(794,275		)	(420,798		)	225,000		(990,073		)
Effect of exchange rate changes on cash and cash equivalents of continuing operations	(7,714		)	(1,172		)	—		(8,886		)
Net (decrease) increase in cash and cash equivalents of continuing operations	(215,614		)	(243,198		)	—		(458,812		)
Cash flows from discontinued operations:
Cash flows from operating activities of discontinued operations	—			—			—		—
Cash flows from investing activities of discontinued operations	—			—			—		—
Effect of exchange rate changes on cash and cash equivalents of discontinued operations	—			—			—		—
	—			—			—		—
Net (decrease) increase in cash and cash equivalents	$	(215,614	)	$	(243,198	)	$	—	$	(458,812	)
Cash and cash equivalents:
Cash and cash equivalents—beginning of period	$	943,330		$	583,620		$	—	$	1,526,950
Cash and cash equivalents of discontinued operations—beginning of period	—			—			—		—
Net (decrease) increase in cash and cash equivalents	(215,614		)	(243,198		)	—		(458,812		)
Less: Cash and cash equivalents of discontinued operations—end of period	—			—			—		—
Cash and cash equivalents—end of period	$	727,716		$	340,422		$	—	$	1,068,138



	Year Ended December 31, 2011
	Motorcycles & Related Products Operations			Financial Services Operations			Eliminations & Adjustments			Consolidated
Cash flows from operating activities:
Net income	$	558,807		$	165,307		$	(125,000	)	$	599,114
Income from discontinued operations	51,036			—			—			51,036
Income from continuing operations	507,771			165,307			(125,000		)	548,078
Adjustments to reconcile income from continuing operations to cash provided by operating activities:
Depreciation	173,959			6,449			—			180,408
Amortization of deferred loan origination costs	—			78,695			—			78,695
Amortization of financing origination fees	473			10,317			—			10,790
Provision for employee long-term benefits	55,942			3,499			—			59,441
Contributions to pension and postretirement plans	(219,695		)	—			—			(219,695		)
Stock compensation expense	35,404			2,788			—			38,192
Net change in wholesale finance receivables	—			—			(2,335		)	(2,335		)
Provision for credit losses	—			17,031			—			17,031
Loss on debt extinguishment	—			9,608			—			9,608
Pension and postretirement healthcare plan curtailment and settlement expense	236			—			—			236
Deferred income taxes	71,555			16,318			—			87,873
Foreign currency adjustments	10,678			—			—			10,678
Other, net	(16,650		)	843			—			(15,807		)
Change in current assets and current liabilities:
Accounts receivable	60,403			—			(17,353		)	43,050
Finance receivables – accrued interest and other	—			5,027			—			5,027
Inventories	(94,957		)	—			—			(94,957		)
Accounts payable and accrued liabilities	81,670			(25,989		)	64,610			120,291
Restructuring reserves	8,072			—			—			8,072
Derivative instruments	(2,519		)	31			—			(2,488		)
Prepaid and other	1,154			49,524			(47,575		)	3,103
Total adjustments	165,725			174,141			(2,653		)	337,213
Net cash provided by operating activities of continuing operations	673,496			339,448			(127,653		)	885,291
Cash flows from investing activities of continuing operations:
Capital expenditures	(179,988		)	(9,047		)	—			(189,035		)
Origination of finance receivables	—			(6,056,242		)	3,434,218			(2,622,024		)
Collections of finance receivables	—			6,191,932			(3,431,883		)	2,760,049
Purchases of marketable securities	(142,653		)	—			—			(142,653		)



Sales and redemptions of marketable securities	130,121			—			—		130,121
Net cash (used by) provided by investing activities of continuing operations	(192,520		)	126,643			2,335		(63,542		)
Cash flows from financing activities of continuing operations:
Proceeds from issuance medium-term notes	—			447,076			—		447,076
Repayments of medium-term notes	—			(59,211		)	—		(59,211		)
Proceeds from securitization debt	—			1,082,599			—		1,082,599
Repayments of securitization debt	—			(1,754,568		)	—		(1,754,568		)
Net increase in credit facilities and unsecured commercial paper	—			237,827			—		237,827
Repayments of asset-backed commercial paper	—			(483		)	—		(483		)
Net change in restricted cash	—			59,232			—		59,232
Dividends paid	(111,011		)	(125,000		)	125,000		(111,011		)
Purchase of common stock for treasury, net of issuances	(224,548		)	—			—		(224,548		)
Excess tax benefits from share based payments	6,303			—			—		6,303
Issuance of common stock under employee stock option plans	7,840			—			—		7,840
Net cash used by financing activities of continuing operations	(321,416		)	(112,528		)	125,000		(308,944		)
Effect of exchange rate changes on cash and cash equivalents of continuing operations	(8,021		)	(85		)	318		(7,788		)
Net decrease in cash and cash equivalents of continuing operations	151,539			353,478			—		505,017
Cash flows from discontinued operations:
Cash flows from operating activities of discontinued operations	—			—			—		—
Cash flows from investing activities of discontinued operations	—			—			—		—
Effect of exchange rate changes on cash and cash equivalents of discontinued operations	—			—			—		—
	—			—			—		—
Net increase in cash and cash equivalents	$	151,539		$	353,478		$	—	$	505,017
Cash and cash equivalents:
Cash and cash equivalents – beginning of period	$	791,791		$	230,142		$	—	$	1,021,933
Cash and cash equivalents of discontinued operations – beginning of period	—			—			—		—
Net decrease in cash and cash equivalents	151,539			353,478			—		505,017
Less: Cash and cash equivalents of discontinued operations – end of period	—			—			—		—
Cash and cash equivalents – end of period	$	943,330		$	583,620		$	—	$	1,526,950



	Year ended December 31, 2010
	Motorcycles & Related Products Operations			Financial Services Operations			Eliminations & Adjustments			Consolidated
Cash flows from operating activities:
Net income	$	32,226		$	114,319		$	—		$	146,545
Loss from discontinued operations	(113,124		)	—			—			(113,124		)
Income from continuing operations	145,350			114,319			—			259,669
Adjustments to reconcile income from continuing operations to cash provided by operating activities:
Depreciation	248,246			6,925			—			255,171
Amortization of deferred loan origination costs	—			87,223			—			87,223
Amortization of financing origination fees	878			18,740			—			19,618
Provision for employee long-term benefits	78,812			818			—			79,630
Contributions to pension and postretirement plans	(39,391		)	—			—			(39,391		)
Stock compensation expense	28,105			2,326			—			30,431
Net change in wholesale finance receivables	—			—			81,527			81,527
Provision for credit losses	—			93,118			—			93,118
Loss on debt extinguishment	85,247			—			—			85,247
Pension and postretirement healthcare plan curtailment and settlement expense	31,824			—			—			31,824
Deferred income taxes	(16,774		)	(817		)	—			(17,591		)
Foreign currency adjustments	(21,480		)	—			—			(21,480		)
Other, net	13,178			(1,268		)	—			11,910
Change in current assets and current liabilities:
Accounts receivable	(101,462		)	—			104,367			2,905
Finance receivables – accrued interest and other	—			10,083			—			10,083
Inventories	2,516			—			—			2,516
Accounts payable and accrued liabilities	196,155			170,832			(151,974		)	215,013
Restructuring reserves	(32,258		)	(219		)	—			(32,477		)
Derivative instruments	(813		)	6,152			—			5,339
Prepaid and other	3,888			(48,330		)	47,575			3,133
Total adjustments	476,671			345,583			81,495			903,749
Net cash provided by operating activities of continuing operations	622,021			459,902			81,495			1,163,418
Cash flows from investing activities of continuing operations:
Capital expenditures	(167,730		)	(3,115		)	—			(170,845		)
Origination of finance receivables	—			(5,319,738		)	3,067,206			(2,252,532		)
Collections of finance receivables	—			5,817,695			(3,148,733		)	2,668,962
Purchases of marketable securities	(184,365		)	—			—			(184,365		)
Sales and redemptions of marketable securities	84,217			—			—			84,217
Net cash (used by) provided by investing activities of continuing operations	(267,878		)	494,842			(81,527		)	145,437
Cash flows from financing activities of continuing operations:
Repayment of medium-term notes	—			(200,000		)	—			(200,000		)
Repayment of senior unsecured notes	(380,757		)	—			—			(380,757		)
Proceeds from securitization debt	—			598,187			—			598,187
Repayments of securitization debt	—			(1,896,665		)	—			(1,896,665		)
Net (decrease)/increase in credit facilities and unsecured commercial paper	(178,292		)	208,867			—			30,575
Repayments of asset-backed commercial paper	—			(845		)	—			(845		)
Net change in restricted cash	—			77,654			—			77,654
Dividends paid	(94,145		)	—			—			(94,145		)
Purchase of common stock for treasury, net of issuances	(1,706		)	—			—			(1,706		)



Excess tax benefits from share based payments	3,767			—			—		3,767
Issuance of common stock under employee stock option plans	7,845			—			—		7,845
Net cash used by financing activities of continuing operations	(643,288		)	(1,212,802		)	—		(1,856,090		)
Effect of exchange rate changes on cash and cash equivalents of continuing operations	5,279			(371		)	32		4,940
Net decrease in cash and cash equivalents of continuing operations	(283,866		)	(258,429		)	—		(542,295		)
Cash flows from discontinued operations:
Cash flows from operating activities of discontinued operations	(71,073		)	—			—		(71,073		)
Cash flows from investing activities of discontinued operations	—			—			—		—
Effect of exchange rate changes on cash and cash equivalents of discontinued operations	(1,195		)	—			—		(1,195		)
	(72,268		)	—			—		(72,268		)
Net decrease in cash and cash equivalents	$	(356,134	)	$	(258,429	)	$	—	$	(614,563	)
Cash and cash equivalents:
Cash and cash equivalents – beginning of period	$	1,141,862		$	488,571		$	—	$	1,630,433
Cash and cash equivalents of discontinued operations – beginning of period	6,063			—			—		6,063
Net decrease in cash and cash equivalents	(356,134		)	(258,429		)	—		(614,563		)
Less: Cash and cash equivalents of discontinued operations – end of period	—			—			—		—
Cash and cash equivalents – end of period	$	791,791		$	230,142		$	—	$	1,021,933