strategic-management

EXHIBIT 4 Income Statements (2006–2008)
HARLEY-DAVIDSON, INC.
ANNUAL INCOME STATEMENTS
Unaudited
YEAR ENDED DECEMBER 31
(in thousands, except per share amounts)
CASE 17 • HARLEY-DAVIDSON, INC. — 2009 173
2008 2007 2006
NET REVENUE:
H-D Motorcycle $4,278,241 $4,446,637 $4,553,561
Parts & Accessories 858,748 868,297 862,251
General Merchandise 313,835 305,435 277,490
Buell Motorcycle 123,086 100,534 102,227
Defense and Other 20,397 5,945 5,157
TOTAL 5,594,307 5,726,848 5,800,686
Gross Profit 1,930,819 2,114,100 2,232,847
HDMC Operating Exp 964,429 883,457 823,857
HDMC Operating Income 966,390 1,230,643 1,408,990
HDFS Operating Income 82,765 212,169 210,724
Corporate Operating Exp 20,131 17,251 22,561
Total Operating Income 1,029,024 1,425,561 1,597,153
Investment Income 9,495 22,258 27,087
Interest Expense 4,542 — —
Income Before Provision for Taxes 1,033,977 1,447,819 1,624,240
Provision for Income Taxes 379,259 513,976 581,087
Net Income from Continuing Ops 654,718 933,843 1,043,153
Net Income (Loss) from Disc Ops — — —
Extraordinary Items — — —
Net Income
Basic/Primary Earnings per
$654,718 $933,843 $1,043,153
Common Share:
Diluted Earnings per
$2.80 $3.75 $3.94
Common Share:
Weighted Ave Shares:
$2.79 $3.74 $3.93
Basic 234,225 249,205 264,453
Diluted 234,477 249,882 265,273
Dividends Paid $1.290 $1.060 $0.810
Domestic Revenue 3,853,242 4,206,427 4,629,895
International Revenue 1,741,065 1,520,421 1,170,791
5,594,307 5,726,848 5,800,686
Source: www.harley-davidson.com and their 2008 Form 10-K.
Note: Per FASB’s Emerging Issues Task Force on “Accounting for Shipping and Handling Fee and Costs” and “Accounting for Certain Sales Incentive,”
certain 2000 and 2001 year balances have been reclassified.