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MILWAUKEE, April 28, 2020 /PRNewswire/ — Harley-Davidson, Inc. (NYSE:HOG) today appear aboriginal division 2020 after-effects and provided an amend on the accomplishments it has taken to abode the appulse of COVID-19 as it restarts accumulation and begins affective adjoin recovery. The aggregation additionally categorical near-term accomplishments that will advance to a new cardinal plan.



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“Throughout this all-around crisis, we accent the abundance of our advisers and the Harley-Davidson association in every accommodation we make. Our cast is abiding in community, and we affliction acutely for all of those who accept been alone affected. We additionally account the heroes alive endlessly to accompany care, abatement and an end to this abhorrent pandemic. Finally, in the face of cogent uncertainty, we accept taken abrupt activity to assure the aggregation by bolstering our already able antithesis area and clamminess position,” said Jochen Zeitz, acting admiral and CEO of Harley-Davidson.  



“COVID-19 has badly afflicted our business ambiance and it is analytical we acknowledge with activity to this new reality. The crisis has provided an befalling to reevaluate every aspect of our business and cardinal plan. We accept bent that we charge to accomplish cogent changes to the company; to our priorities, to our operating archetypal and to our action to drive added constant achievement as we appear from this crisis. We will abate complexity, acuminate focus and admission the acceleration of decision-making. These efforts will pave the way for a new cardinal plan that incorporates some key articles and initiatives from the accustomed plan but focuses on bigger advantage and abiding growth. As a result, we will appear as a stronger and added able aggregation and reignite the Harley-Davidson soul,” said Zeitz. 



The aggregation is active its plan to abode the appulse of COVID-19 and activate its accretion through a aggregation of contempo accomplishments beyond the afterward areas:

Cash Preservation – Bargain planned basic spending and additionally bargain planned spending beyond every allotment of the alignment including freezing hiring, briefly abbreviation salaries and eliminating arete increases for advisers in 2020. The aggregation additionally implemented added advancing amount administration efforts such as retiming the barrage of new products. In total, the aggregation expects these efforts to bottle about $250 actor of banknote in 2020. Additionally, the aggregation abeyant arbitrary allotment repurchases. Today the Board of Directors accustomed a banknote allotment of $0.02 per allotment for the added division of 2020, bottomward from the aboriginal division 2020 allotment of $0.38. The added division allotment is payable June 12, 2020 to the shareholders of almanac of the company’s accustomed banal as of May 22, 2020.

Liquidity – Maintained $2.47 billion in clamminess including $1.47 billion banknote as of the end of the division and charcoal adjustable with all covenants. Recently, the aggregation adapted its $1.42 billion acclaim facilities, continued its 364-day accommodation adeptness and is in discussions with aloft U.S. banks to defended an added $1.30 billion in liquidity. Additionally, the aggregation expects to admission the basic markets in the abreast future.

Supporting Dealers and Riders – Eased the accountability on Harley-Davidson dealers by accouterment abutment based on the different needs of anniversary region, including banking abutment for motorcycle inventory, extending acclaim acquittal due dates on Parts & Accessories (P&A) and Accepted Merchandise (GM) and adjusting banker requirements for affirmation and training. The aggregation additionally offered banker discounts on assertive GM articles and is agreeable with dealership agents via alive babble sessions to allotment different bureau to break affiliated during the crisis. For customers, abounding dealers abide accessible for account abutment and the aggregation continues online sales of P&A and GM, and forth with dealers, is alms home commitment of new motorcycles in states and countries area it is permitted. For riders who accept been impacted by COVID-19, Harley-Davidson Banking Casework (HDFS) is allowance accumulate riders on the road.

Community Strength – Acted bound and in alignment with government efforts to assure the affirmation and bloom of advisers and the Harley-Davidson community. The aggregation implemented biking restrictions, added sanitation practices, annulled contest and bankrupt accessories including briefly suspending all-around accomplishment starting in March. In abutment of abatement efforts, the Harley-Davidson Foundation donated $150,000 to the United Way’s COVID-19 abatement fund. Through its “United We Will Ride” efforts, the aggregation is abutting riders who appetite to advice accommodate abatement through aliment drives, claret donations and added bureau to accomplish a aberration in their communities.

As the aggregation focuses on accretion efforts for the business, it has able and started implementing accurate protocols and procedures for artisan affirmation and is alive with its accumulation alternation to be accessible to resume operations. The aggregation has restarted some accomplishment and will gradually affluence work-at-home restrictions at the adapted time, which will alter by region.

The Rewire

The aggregation is active a set of actions, referred to as The Rewire, that will be added developed over the advancing months, arch to a new cardinal plan. These accomplishments are allotment of a absolute Rewire playbook advised to abode top antecedence opportunities, drive constant beheading and displace the company’s operating archetypal in adjustment to abate complexity, acuminate focus and admission the acceleration of accommodation making. The aggregation expects The Rewire accomplishments – those already taken and those that will be implemented over the advancing months – to advance to the analogue of a new 5-year cardinal plan that will absorb key articles and initiatives from the Added Roads plan but will focus added on the markets and articles that can drive achievement in agreement of advantage and growth. Key elements of The Rewire:

Enhance amount strengths and bigger antithesis amplification into new spaces

Prioritize the markets that matter

Reset artefact launches and artefact band up for artlessness and best appulse

Build the Parts & Accessories and Accepted Merchandise businesses to abounding potential

Adjust and acclimatize the authoritative structure, amount anatomy and operating archetypal to abate complication and drive adeptness to set Harley-Davidson up for adherence and success

Each of these key elements of The Rewire playbook includes accomplishments that accept been implemented or are currently actuality developed. The aggregation affairs to allotment added about The Rewire in its Q2 update.

First Division 2020 ResultsFirst division 2020 after-effects reflect the appulse of COVID-19 on the company’s business. GAAP adulterated EPS was $0.45 adjoin $0.80 in 2019. Net assets was $69.7 actor on circumscribed acquirement of $1.30 billion adjoin net assets of $127.9 actor on circumscribed acquirement of $1.38 billion in 2019.

Harley-Davidson Retail Motorcycle Sales

Motorcycles

1st Quarter

2020

2019

Change

U.S.

23,732

28,091

(15.5)%

EMEA

7,730

10,797

(28.4)%

Asia Pacific

5,752

6,074

(5.3)%

Latin America

1,759

2,241

(21.5)%

Canada

1,466

1,948

(24.7)%

International Total

16,707

21,060

(20.7)%

Worldwide Total

40,439

49,151

(17.7)%

Global retail motorcycle sales in the aboriginal division were decidedly impacted by COVID-19. U.S. retail sales were up a able 6.6 percent until the communicable took authority in the U.S. in mid-March. For the abounding quarter, U.S. retail sales accomplished bottomward 15.5 percent compared to above-mentioned year and U.S. 601 cc bazaar allotment was bottomward 2.2 allotment points, to 48.9 percent. All-embracing retail sales were bottomward 20.7 percent compared to 2019 and Europe 601 cc bazaar allotment was 7.6 percent in the aboriginal quarter.

Motorcycles and Accompanying Articles Articulation Results

$ in thousands

1st Quarter

2020

2019

Change

Motorcycle Shipments (vehicles)

52,973

58,891

(10.0)%

Revenue

$1,099,788

$1,195,637

(8.0)%

   Motorcycles

$899,365

$964,575

(6.8)%

   Parts & Accessories

$134,685

$159,703

(15.7)%

   Accepted Merchandise

$49,160

$55,401

(11.3)%

Gross Allowance

29.0%

29.1%

(0.1) pts.

Operating Income

$84,567

$108,381

(22.0)%

Operating Allowance

7.7%

9.1%

(1.4) pts.

Revenue from the Motorcycles and Accompanying Articles articulation was bottomward in the aboriginal division compared to above-mentioned year absorption the acting all-around motorcycle accomplishment abeyance that began in mid-March. Gross allowance was abundantly collapsed during the quarter, while operating allowance was bottomward year-over-year primarily due to lower revenues and added SG&A, account by lower restructuring expense.

Financial Casework Articulation Results

$ in thousands

1st Quarter

2020

2019

Change

Revenue

$198,456

$188,743

5.1%

Operating Income

$22,946

$58,731

(60.9)%

Financial Casework articulation aboriginal division operating assets of $22.9 actor was bottomward 60.9 percent apprenticed by an admission in the accouterment for accommodation losses accompanying to the appulse of the COVID-19 crisis as able-bodied as the appulse of the new “Current Accepted Acclaim Losses” or CECL accounting pronouncement.

Other After-effects

Cash – Banknote and bankable antithesis were $1.47 billion at the end of aboriginal quarter, compared to $759.6 actor in Q1 2019. Harley-Davidson’s banknote from operating activities was an address of $8.6 million in the aboriginal division compared to an inflow of $32.7 million in Q1 2019.

Tax Amount – Harley-Davidson’s aboriginal division able tax amount was 26.3 percent compared to 24.9 percent in Q1 2019. 

Dividend & Allotment Repurchase – The aggregation paid a banknote allotment of $0.38 per allotment for the aboriginal quarter. The aggregation did not repurchase shares on a arbitrary base during the aboriginal quarter. During the quarter, there were 153.7 actor weighted-average adulterated accustomed shares outstanding and 18.2 actor shares remained on board-approved allotment repurchase authorizations.

2020 Outlook As a aftereffect of the ambiguity surrounding the consequence and continuance of the COVID-19 pandemic, Harley-Davidson withdrew all advice on March 26, 2020.

Company Background Harley-Davidson, Inc. is the ancestor aggregation of Harley-Davidson Motor Aggregation and Harley-Davidson Banking Services. Since 1903, Harley-Davidson has stood for the around-the-clock afterward of chance and delivered abandon for the body with an accretion ambit of leading-edge, characteristic and customizable motorcycles in accession to benumbed adventures and aberrant motorcycle accessories, benumbed accessory and apparel. Harley-Davidson Banking Casework provides financing, allowance and added programs to advice get Harley-Davidson riders on the road. Learn added at www.harley-davidson.com.

Webcast PresentationHarley-Davidson will altercate aboriginal division 2020 after-effects and developments in the business on an audio webcast at 8:00 a.m. CT today. The webcast login and acknowledging slides can be accessed at http://investor.harley-davidson.com/news-and-events/events-and-presentations. The audio epitomize will be accessible by about 10:00 a.m. CT.

Non-GAAP DisclosureThis columnist absolution includes banking measures that accept not been affected in accordance with U.S. about accustomed accounting attempt (GAAP) and are accordingly referred to as non-GAAP banking measures. The non-GAAP measures declared beneath are advised to be advised by users as added advice to the agnate GAAP measures, to aid investors in bigger compassionate the company’s banking results. The aggregation believes that these non-GAAP measures accommodate advantageous angle on basal business after-effects and trends, and a bureau to appraise period-over-period results. These non-GAAP measures should not be advised as a acting for, or aloft to, measures of banking achievement able in accordance with GAAP. These non-GAAP measures may not be the aforementioned as analogously blue-blooded measures acclimated by added companies due to accessible differences in adjustment and in items or contest actuality adjusted.

The non-GAAP measures included in this columnist absolution are adapted net assets and adapted adulterated EPS excluding restructuring plan costs and the appulse of contempo EU and China tariffs. Restructuring plan costs accommodate restructuring costs as presented in the circumscribed statements of assets and costs associated with acting inefficiencies incurred in affiliation with the accomplishment admission action included in Motorcycles and Accompanying Articles amount of appurtenances sold. The appulse of contempo EU and China tariffs includes incremental European Union and China tariffs imposed alpha in 2018 on the company’s articles alien from the U.S., as able-bodied as incremental U.S. tariffs imposed alpha in 2018 on assertive items alien from China. The appulse of contempo EU and China tariffs excludes college metals amount constant from the U.S. animate and aluminum tariffs. These adjustments are constant with the admission acclimated for 2018 to actuate achievement about to banking objectives beneath the company’s allurement advantage plans. These non-GAAP measures, as able-bodied as a adaptation of the commensurable GAAP admeasurement to these non-GAAP measures are included after in this columnist release.

Cautionary Note Apropos Forward-Looking StatementsThe aggregation intends that assertive affairs discussed in this columnist absolution are “forward-looking statements” advised to authorize for the safe anchorage from accountability accustomed by the Private Antithesis Action Ameliorate Act of 1995. These advanced statements can about be articular as such because the ambience of the account will accommodate words such as the aggregation “believes,” “anticipates,” “expects,” “plans,” “may,” “will,” “estimates,” “is on-track” or words of agnate meaning. Similarly, statements that call or accredit to approaching expectations, approaching plans, strategies, objectives, outlooks, targets, guidance, commitments, or goals are additionally advanced statements. Such advanced statements are accountable to assertive risks and uncertainties that could account absolute after-effects to alter materially, afield or favorably, from those advancing as of the date of this columnist release. Assertive of such risks and uncertainties are declared below. Shareholders, abeyant investors, and added readers are apprenticed to accede these factors in evaluating the advanced statements and are cautioned not to abode disproportionate affirmation on such advanced statements. The advanced statements included in this columnist absolution are alone fabricated as of the date of this columnist release, and the aggregation disclaims any obligation to about amend such advanced statements to reflect consecutive contest or circumstances.

Important factors that could affect approaching after-effects and account those after-effects to alter materially from those bidding in the advanced statements include, amid others, the following: (i) the COVID-19 communicable including the breadth and severity of the communicable beyond the apple and the clip of accretion afterward the pandemic; (ii) adverse economic, political or bazaar altitude in the U.S. and all-embracing markets and added factors such as accustomed disasters; and (iii) the Company’s adeptness to: (A) assassinate its business affairs and strategies, and strengthen its absolute business while enabling abiding growth; (B) administer and adumbrate the appulse that new or adapted tariffs may accept on the company’s adeptness to advertise articles internationally, and the amount of raw abstracts and components; (C) assassinate its action of growing ridership, globally; (D) auspiciously backpack out its all-around accomplishment and accumulation operations; (E) accurately analyze, adumbrate and acknowledge to alteration bazaar altitude and auspiciously acclimatize to alive all-around customer needs and interests; (F) auspiciously admission the basic and/or acclaim markets on agreement that are adequate to the aggregation and aural its expectations; (G) advance and advance a advantageous accord with Zhejiang Qianjiang Motorcycle Co., Ltd. and barrage accompanying articles in a appropriate manner; (H) advance and acquaint products, casework and adventures on a appropriate base that the bazaar accepts, that accredit the aggregation to accomplish adapted sales levels and that accommodate the adapted banking returns; (I) accomplish in a address that enables the aggregation to account from bazaar opportunities while aggressive adjoin absolute and new competitors; (J) apprehend expectations apropos bazaar appeal for electric models, which will depend in allotment on the architecture of all-important infrastructure; (K) prevent, detect, and remediate any issues with its motorcycles or any issues associated with the accomplishment processes to abstain delays in new archetypal launches, anamnesis campaigns, authoritative bureau investigations, added affirmation costs or action and adverse furnishings on its acceptability and cast strength, and backpack out any artefact programs or recalls aural accepted costs and timing; (L) administer accumulation alternation issues, including affection issues and any abrupt interruptions or amount increases acquired by raw actual shortages or accustomed disasters; (M) administer the appulse that prices for and accumulation of acclimated motorcycles may accept on its business, including on retail sales of new motorcycles; (N) abate added costs to  account costs of artefact development initiatives and alter basic after abnormally affecting its absolute business; (O) antithesis accumulation volumes for its new motorcycles with customer demand; (P) administer risks that appear through accretion all-embracing manufacturing, operations and sales; (Q) administer through changes in accepted bread-and-butter and business conditions, including alteration capital, acclaim and retail markets, and the alteration political environment; (R) auspiciously determine, apparatus on a appropriate basis, and advance a address in which to advertise motorcycles in the European Union, China, and the company’s ASEAN countries that does not accountable its motorcycles to incremental tariffs; (S) accurately appraisal and acclimatize to fluctuations in adopted bill barter rates, absorption ante and article prices; (T) abide to advance the capabilities of its distributors and dealers, finer apparatus changes apropos to its dealers and administration methods and administer the risks that its absolute dealers may accept adversity accepting basic and managing through alteration bread-and-butter altitude and customer demand; (U) absorb and allure accomplished employees; (V) anticipate a cybersecurity aperture involving consumer, employee, dealer, supplier, or aggregation abstracts and acknowledge to evolving authoritative requirements apropos abstracts security; (W) administer the acclaim quality, the accommodation application and accumulating activities, and the accretion ante of HDFS’ accommodation portfolio; (X) acclimatize to tax reform, healthcare aggrandizement and ameliorate and alimony reform, and auspiciously appraisal the appulse of any such ameliorate on the company’s business; (Y) administer through the furnishings inconsistent and capricious acclimate patterns may accept on retail sales of motorcycles; (Z) apparatus and administer enterprise-wide advice technology systems, including systems at its accomplishment facilities; (AA) administer changes and adapt for requirements in aldermanic and authoritative environments for its products, casework and operations; (BB) administer its acknowledgment to artefact accountability claims and bartering or acknowledged disputes;  (CC) administer its Thailand accumulated and accomplishment operation in a address that allows the aggregation to account itself of best chargeless barter agreements and assignment rates, and abundantly lower prices of its motorcycles in assertive markets; (DD) abide to administer the relationships and agreements that the aggregation has with its activity unions to advice drive abiding competitiveness; and (EE) accurately adumbrate the margins of its Motorcycles and Accompanying Articles articulation in ablaze of, amid added things, tariffs, the amount associated with artefact development initiatives and the company’s circuitous all-around accumulation chain.

The company’s operations, appeal for its products, and its clamminess could be abnormally impacted by assignment stoppages, adeptness closures, strikes, accustomed causes, boundless communicable disease, terrorism, or added factors. Added factors are declared in accident factors that the aggregation has appear in abstracts ahead filed with the Antithesis and Barter Commission. Abounding of these accident factors are impacted by the accustomed alteration capital, acclaim and retail markets and the company’s adeptness to administer through inconsistent bread-and-butter conditions.

The company’s adeptness to advertise its motorcycles and accompanying articles and casework and to accommodated its banking expectations additionally depends on the adeptness of the company’s absolute dealers to advertise its motorcycles and accompanying articles and casework to retail customers. The aggregation depends on the adequacy and banking accommodation of its absolute dealers to advance and apparatus able retail sales affairs to actualize appeal for the motorcycles and accompanying articles and casework they acquirement from the company. In addition, the company’s absolute dealers and distributors may acquaintance difficulties in operating their businesses and affairs Harley-Davidson motorcycles and accompanying articles and casework as a aftereffect of weather, bread-and-butter conditions, the appulse of COVID-19, or added factors. In contempo years, HDFS has accomplished historically low levels of retail acclaim losses, but there is no affirmation that this will continue. The aggregation believes that HDFS’ retail acclaim losses may admission over time due to alteration customer acclaim behavior and HDFS’ efforts to admission carefully structured accommodation approvals to sub-prime borrowers, as able-bodied as accomplishments that the aggregation has taken and could booty that appulse motorcycle values. Accredit to “Risk Factors” beneath Item 1A of the company’s Annual Report on Form 10-K for the year concluded December 31, 2019 for a altercation of added accident factors and a added complete altercation of some of the cautionary statements acclaimed above.

### (HOG-F)

 

Harley-Davidson, Inc.

Condensed Circumscribed Statements of Income

(In thousands, except per allotment amounts)

(Unaudited)

(Unaudited)

Three months ended

March 29,

March 31, 

2020

2019

Motorcycles and Accompanying Articles revenue

$ 1,099,788

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$   1,195,637

Gross profit

318,920

347,439

Selling, authoritative and engineering expense

234,353

225,428

Restructuring expense 

13,630

  Operating assets from Motorcycles and Accompanying Products

84,567

108,381

Financial Casework revenue

198,456

188,743

Financial Casework expense

175,510

130,012

  Operating assets from Banking Services

22,946

58,731

Operating income

107,513

167,112

Other assets (expense), net

155

4,660

Investment (loss) income

(5,347)

6,358

Interest expense

7,755

7,731

Income afore assets taxes

94,566

170,399

Income tax provision

24,871

42,454

Net income

$    69,695

$     127,945

Earnings per share:

  Basic

$      0.46

$        0.80

  Diluted

$      0.45

$        0.80

Weighted-average shares:

  Basic

153,004

159,311

  Diluted

153,744

160,026

Cash assets per share:

$     0.380

$       0.375

 

Harley-Davidson, Inc.

Reconciliation of GAAP Amounts to Non-GAAP Amounts

(In thousands, except per allotment amounts) 

(Unaudited)

(Unaudited)

Three months ended

March 29,

March 31,

2020

2019

Net assets excluding restructuring plan costs and the appulse of contempo EU and China tariffs

Net assets (GAAP)

$    69,695

$     127,945

Restructuring plan costs

17,210

Impact of incremental tariffs

12,607

20,977

Tax aftereffect of adjustments(a)

(3,316)

(9,260)

Adjustments, net of tax

9,291

28,927

Adjusted net assets (non-GAAP)

$    78,986

$     156,872

Diluted EPS excluding restructuring plan costs and the appulse of contempo EU and China tariffs

Diluted EPS (GAAP)

$      0.45

$        0.80

Adjustments net of tax, per share

0.06

0.18

Adjusted adulterated EPS (non-GAAP)

$      0.51

$        0.98

(a) The assets tax aftereffect of adjustments has been computed application the company’s able assets tax rate

 

Harley-Davidson, Inc.

Condensed Circumscribed Antithesis Sheets

(In thousands)

(Unaudited)

(Unaudited)

March 29,

December 31,

March 31,

2020

2019

2019

ASSETS

Current assets:

    Banknote and banknote equivalents

$ 1,465,061

$   833,868

$     749,600

    Bankable securities

10,003

    Accounts receivable, net

299,148

259,334

353,541

    Finance receivables, net

2,358,989

2,272,522

2,443,899

    Inventories, net

610,924

603,571

595,806

    Belted cash

99,903

64,554

43,471

    Added accustomed assets

142,357

168,974

177,761

4,976,382

4,202,823

4,374,081

Finance receivables, net

4,933,418

5,101,844

4,994,693

Other abiding assets

1,230,147

1,223,492

1,211,839

$11,139,947

$10,528,159

$  10,580,613

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current liabilities:

    Accounts payable and accrued liabilities

$   917,946

$   876,668

$   1,025,089

    Short-term debt

1,335,664

571,995

1,192,925

    Accustomed allocation of abiding debt, net

2,326,460

1,748,109

1,372,050

4,580,070

3,196,772

3,590,064

Long-term debt, net

4,478,078

5,124,826

4,744,694

Pension and postretirement healthcare liabilities

128,054

128,651

192,759

Other abiding liabilities

261,762

273,911

255,485

Shareholders’ equity

1,691,983

1,803,999

1,797,611

$11,139,947

$10,528,159

$  10,580,613

 

Harley-Davidson, Inc.

Condensed Circumscribed Statements of Banknote Flows

 (In thousands)

(Unaudited)

(Unaudited)

Three months ended

March 29,

March 31,

2020

2019

Net banknote (used) provided by operating activities

$    (8,582)

$      32,671

Cash flows from advance activities:

  Basic expenditures

(32,928)

(35,255)

  Finance receivables, net

61,200

(35,548)

  Acquisition of business

(7,000)

  Added advance activities

16

603

Net banknote provided (used) by advance activities

28,288

(77,200)

Cash flows from costs activities:

  Proceeds from arising of medium-term notes

546,655

  Repayments of medium-term notes

(600,000)

(750,000)

  Proceeds from securitization debt

522,694

  Repayments of securitization debt

(130,918)

(76,505)

  Net admission in apart bartering paper

772,208

58,527

  Borrowings of asset-backed bartering paper

225,187

  Repayments of asset-backed bartering paper

(67,809)

(72,401)

  Assets paid

(58,817)

(60,859)

  Repurchase of accustomed stock

(7,071)

(61,712)

  Arising of accustomed banal beneath agent banal advantage plans

34

616

Net banknote provided (used) by costs activities

655,508

(415,679)

Effect of barter amount changes on cash, banknote equivalents and belted cash

(5,732)

(409)

Net admission (decrease) in cash, banknote equivalents and belted cash

$   669,482

$    (460,617)

Cash, banknote equivalents and belted cash:

Cash, banknote equivalents and belted cash, alpha of period

$   905,366

$   1,259,748

Net admission (decrease) in cash, banknote equivalents and belted cash

669,482

(460,617)

Cash, banknote equivalents and belted cash, end of period

$ 1,574,848

$     799,131

Reconciliation of cash, banknote equivalents and belted banknote on the Circumscribed antithesis bedding to the Circumscribed statements of banknote flows: 

  Banknote and banknote equivalents

$ 1,465,061

$     749,600

  Belted cash

99,903

43,471

  Belted banknote included in Added abiding assets

9,884

6,060

  Cash, banknote equivalents and belted banknote per the Circumscribed statements of banknote flows

$ 1,574,848

$     799,131

 

Motorcycles and Accompanying Articles Revenue

 and Motorcycle Shipment Data

(Revenue in thousands) 

(Unaudited)

(Unaudited)

Three months ended

March 29,

March 31,

2020

2019

MOTORCYCLES AND RELATED PRODUCTS REVENUE

  Motorcycles

$     899,365

$    964,575

  Parts & accessories

134,685

159,703

  Accepted merchandise

49,160

55,401

  Licensing

8,029

8,577

  Other

8,549

7,381

$   1,099,788

$  1,195,637

MOTORCYCLE SHIPMENTS

    United States

33,024

34,505

    International

19,949

24,386

52,973

58,891

MOTORCYCLE PRODUCT MIX

    Touring

21,597

25,043

    Cruiser(a)

20,131

20,451

    Sportster®/ Street

11,245

13,397

52,973

58,891

(a)Includes Softail®, CVOTM, and LiveWireTM

 

Worldwide Retail Sales of Harley-Davidson Motorcycles(a)

Three months ended

March 31,

March 31,

2020

2019

United States

23,732

28,091

Europe(b)

6,534

9,427

EMEA – Other

1,196

1,370

Total EMEA

7,730

10,797

Asia Pacific(c)

3,709

3,786

Asia Pacific – Other

2,043

2,288

Total Asia Pacific

5,752

6,074

Latin America

1,759

2,241

Canada

1,466

1,948

  Absolute all-embracing retail sales

16,707

21,060

      Absolute common retail sales

40,439

49,151

(a) Abstracts antecedent for retail sales abstracts apparent aloft is new sales affirmation and allotment advice provided by Harley-Davidson dealers and aggregate by the Company. The Aggregation charge await on advice that its dealers accumulation apropos new retail sales, and the aggregation does not consistently verify the advice that its dealers supply. This advice is accountable to revision.

(b) Includes Austria, Belgium, Denmark, Finland, France, Germany, Italy, Luxembourg, Netherlands, Norway, Spain, Sweden, Switzerland and the United Kingdom. Retail sales for Greece and Portugal were reclassified from Europe to EMEA – Added for 2019 to be constant with the 2020 presentation.

(c) Includes Japan, Australia, New Zealand and South Korea

 

Motorcycle Allotment Data(a)

Three months ended

March 31,

March 31, 

2020

2019

United States(b) 

47,232

54,324

Europe(c)

95,307

109,282

(a) Abstracts includes on-road models with centralized agitation engines with displacements greater than 600cc’s and electric motorcycles with kilowatt aiguille ability equivalents greater than 600cc’s (601 cc). On-road 601 cc models accommodate bifold purpose models, three-wheeled motorcycles and autocycles. Allotment abstracts for Harley-Davidson Street® 500 motorcycles is not included in this table.

(b) United States industry abstracts is acquired from advice provided by Motorcycle Industry Council. This third-party abstracts is accountable to afterlight and update.

(c) Europe abstracts includes Austria, Belgium, Denmark, Finland, France, Germany, Italy, Luxembourg, Netherlands, Norway, Spain, Sweden, Switzerland, and the United Kingdom. Industry abstracts is acquired from advice provided by Administration Casework Helwig Schmitt GmbH. Above-mentioned year registrations accept been revised to exclude Greece and Portugal registrations. This third affair abstracts is accountable to afterlight and update.

 

Harley-Davidson Motor Aggregation (PRNewsfoto/Harley-Davidson, Inc.)

 

View aboriginal agreeable to download multimedia:http://www.prnewswire.com/news-releases/harley-davidson-announces-first-quarter-2020-results-covid-19-response-actions-and-steps-toward-recovery-301048140.html

SOURCE Harley-Davidson, Inc.

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