HARLEY-DAVIDSON INC
For the period ended Jun 30, 2024. Filed Aug 7, 2024.
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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.
Jun 30, 2024 · Filed Aug 7, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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15. Accumulated Other Comprehensive Loss
- Accumulated Other Comprehensive Loss
Changes in Accumulated other comprehensive loss were as follows (in thousands):
| Three months ended June 30, 2024 | ||||
|---|---|---|---|---|
| Foreign currency translation adjustments | Derivative financial instruments | Pension and postretirement benefit plans | Total | |
| Balance, beginning of period | $(100,033) | $(2,080) | $(230,445) | $(332,558) |
| Other comprehensive loss, before reclassifications | (6,895) | (4,110) | — | (11,005) |
| Income tax benefit | — | 1,006 | — | 1,006 |
| (6,895) | (3,104) | — | (9,999) | |
| Reclassifications: | ||||
| Net loss on derivative financial instruments | — | 7,247 | — | 7,247 |
| Prior service credits(a) | — | — | 337 | 337 |
| Actuarial gains(a) | — | — | (1,413) | (1,413) |
| Reclassifications before tax | — | 7,247 | (1,076) | 6,171 |
| Income tax (expense) benefit | — | (1,740) | 252 | (1,488) |
| — | 5,507 | (824) | 4,683 | |
| Other comprehensive (loss) income | (6,895) | 2,403 | (824) | (5,316) |
| Balance, end of period | $(106,928) | $323 | $(231,269) | $(337,874) |
| Three months ended June 30, 2023 | ||||
| Foreign currency translation adjustments | Derivative financial instruments | Pension and postretirement benefit plans | Total | |
| Balance, beginning of period | $(70,150) | $(32,322) | $(252,180) | $(354,652) |
| Other comprehensive (loss) income, before reclassifications | (23,296) | 25,694 | — | 2,398 |
| Income tax benefit (expense) | 3,659 | (6,027) | — | (2,368) |
| (19,637) | 19,667 | — | 30 | |
| Reclassifications: | ||||
| Net gain on derivative financial instruments | — | (703) | — | (703) |
| Prior service credits(a) | — | — | 22 | 22 |
| Actuarial gains(a) | — | — | (1,278) | (1,278) |
| Reclassifications before tax | — | (703) | (1,256) | (1,959) |
| Income tax benefit | — | 162 | 295 | 457 |
| — | (541) | (961) | (1,502) | |
| Other comprehensive (loss) income | (19,637) | 19,126 | (961) | (1,472) |
| Balance, end of period | $(89,787) | $(13,196) | $(253,141) | $(356,124) |
(a) Amounts reclassified are included in the computation of net periodic benefit (income) cost, discussed further in Note 13.
| Six months ended June 30, 2024 | ||||
|---|---|---|---|---|
| Foreign currency translation adjustments | Derivative financial instruments | Pension and postretirement benefit plans | Total | |
| Balance, beginning of period | $(68,739) | $(6,601) | $(229,622) | $(304,962) |
| Other comprehensive loss, before reclassifications | (38,200) | (26,751) | — | (64,951) |
| Income tax benefit | 11 | 6,419 | — | 6,430 |
| (38,189) | (20,332) | — | (58,521) | |
| Reclassifications: | ||||
| Net loss on derivative financial instruments | — | 35,753 | — | 35,753 |
| Prior service credits(a) | — | — | 674 | 674 |
| Actuarial gains(a) | — | — | (2,826) | (2,826) |
| Reclassifications before tax | — | 35,753 | (2,152) | 33,601 |
| Income tax (expense) benefit | — | (8,497) | 505 | (7,992) |
| — | 27,256 | (1,647) | 25,609 | |
| Other comprehensive (loss) income | (38,189) | 6,924 | (1,647) | (32,912) |
| Balance, end of period | $(106,928) | $323 | $(231,269) | $(337,874) |
| Six months ended June 30, 2023 | ||||
|---|---|---|---|---|
| Foreign currency translation adjustments | Derivative financial instruments | Pension and postretirement benefit plans | Total | |
| Balance, beginning of period | $(80,271) | $(10,440) | $(251,218) | $(341,929) |
| Other comprehensive (loss) income, before reclassifications | (12,320) | 24,454 | — | 12,134 |
| Income tax benefit (expense) | 2,804 | (5,654) | — | (2,850) |
| (9,516) | 18,800 | — | 9,284 | |
| Reclassifications: | ||||
| Net gain on derivative financial instruments | — | (28,168) | — | (28,168) |
| Prior service credits(a) | — | — | 44 | 44 |
| Actuarial gains(a) | — | — | (2,556) | (2,556) |
| Reclassifications before tax | — | (28,168) | (2,512) | (30,680) |
| Income tax benefit | — | 6,612 | 589 | 7,201 |
| — | (21,556) | (1,923) | (23,479) | |
| Other comprehensive loss | (9,516) | (2,756) | (1,923) | (14,195) |
| Balance, end of period | $(89,787) | $(13,196) | $(253,141) | $(356,124) |
(a)Amounts reclassified are included in the computation of net periodic benefit (income) cost, discussed further in Note 15
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