HARLEY-DAVIDSON INC
For the period ended Mar 31, 2024. Filed May 6, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 6, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
9. Debt
- Debt
Debt with a contractual term less than 12 months is generally classified as short-term and consisted of the following (in thousands):
| March 31,2024 | December 31,2023 | March 31,2023 | |
|---|---|---|---|
| Unsecured commercial paper | $938,719 | $878,935 | $501,243 |
Debt with a contractual term greater than 12 months is generally classified as long-term and consisted of the following (in thousands):
| March 31,2024 · December 31,2023 · March 31,2023 | ||||
|---|---|---|---|---|
| Secured debt: | ||||
| Asset-backed Canadian commercial paper conduit facility | $88,333 | $70,742 | $62,195 | |
| Asset-backed U.S. commercial paper conduit facility | 502,521 | 233,258 | 372,816 | |
| Asset-backed securitization debt | 1,650,452 | 1,884,629 | 2,267,516 | |
| Unamortized discounts and debt issuance costs | (5,826) | (7,261) | (9,717) | |
| 2,235,480 | 2,181,368 | 2,692,810 | ||
| Unsecured notes (at par value): | ||||
| Medium-term notes: | ||||
| Due in 2023, issued May 2020 (a) | 4.94% | — | — | 706,972 |
| Due in 2024, issued November 2019(b) | 3.14% | 647,592 | 662,238 | 652,590 |
| Due in 2025, issued June 2020 | 3.35% | 700,000 | 700,000 | 700,000 |
| Due in 2026, issued April 2023(c) | 6.36% | 755,524 | 772,610 | — |
| Due in 2027, issued February 2022 | 3.05% | 500,000 | 500,000 | 500,000 |
| Due in 2028, issued March 2023 | 6.50% | 700,000 | 700,000 | 700,000 |
| Unamortized discounts and debt issuance costs | (14,123) | (15,710) | (13,971) | |
| 3,288,993 | 3,319,138 | 3,245,591 | ||
| March 31,2024 · December 31,2023 · March 31,2023 | ||||
|---|---|---|---|---|
| Senior notes: | ||||
| Due in 2025, issued July 2015 | 3.50% | 450,000 | 450,000 | 450,000 |
| Due in 2045, issued July 2015 | 4.625% | 300,000 | 300,000 | 300,000 |
| Unamortized discounts and debt issuance costs | (3,742) | (3,921) | (4,455) | |
| 746,258 | 746,079 | 745,545 | ||
| 4,035,251 | 4,065,217 | 3,991,136 | ||
| Long-term debt | 6,270,731 | 6,246,585 | 6,683,946 | |
| Current portion of long-term debt, net | (1,281,840) | (1,255,999) | (1,408,777) | |
| Long-term debt, net | $4,988,891 | $4,990,586 | $5,275,169 | |
(a)€650.0 million par value remeasured to U.S. dollar at March 31, 2023
(b)€600.0 million par value remeasured to U.S. dollar at March 31, 2024, December 31, 2023, and March 31, 2023, respectively
(c)€700.0 million par value remeasured to U.S. dollar at March 31, 2024 and December 31, 2023, respectively
Future principal payments of the Company's debt obligations as of March 31, 2024 were as follows (in thousands):
| 2024 | $2,117,857 |
| 2025 | 1,801,095 |
| 2026 | 1,416,977 |
| 2027 | 857,386 |
| 2028 | 739,826 |
| Thereafter | 300,000 |
| Future principal payments | 7,233,141 |
| Unamortized discounts and debt issuance costs | (23,691) |
| $7,209,450 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.