HARLEY-DAVIDSON, INC.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

Unaudited

YEAR ENDED DECEMBER 31, 2010

( IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)

Q1
Net revenue from motorcycles and related products
Gross profit
Selling, administrative and engineering expense
Restructuring expense
Operating income from motorcycles & related products

Q2

1,037,335
379,547
205,204
48,236
126,107

Q3

1,135,101
396,984
208,952
30,125
157,907

Q4

1,087,115
379,806
210,828
67,476
101,502

TOTAL

917,076 $
271,066
260,153
17,671
(6,758)

4,176,627
1,427,403
885,137
163,508
378,758

Financial services revenue

Financial services expense
Operating income from financial services

169,837
143,155
26,682

173,705
112,860
60,845

172,845
121,977
50,868

166,322
122,844
43,478

Operating income
Investment income
Interest expense
Loss on debt extinguishment
(Loss) income before income taxes
(Benefit from) provision for income taxes
(Loss) income from continuing operations
Loss from discontinued operations, net of tax
Net income

152,789
876
23,455
130,210
61,469
68,741
(35,416)
33,325

218,752
1,551
23,591
196,712
57,425
139,287
(68,130)
71,157

152,370
1,239
23,102
130,507
36,790
93,717
(4,888)
88,829 $

36,720
1,776
20,209
85,247
(66,960)
(24,884)
(42,076)
(4,690)
(46,766) $

560,631
5,442
90,357
85,247
390,469
130,800
259,669
(113,124)
146,545

Earnings per common share from continuing operations:

Basic
Diluted

$
$

0.30
0.29

$
$

0.60
0.59

$
$

0.40 $
0.40 $

(0.18) $
(0.18) $

1.11
1.11

(0.02) $
(0.02) $

(0.02) $
(0.02) $

(0.48)
(0.48)

0.38 $
0.38 $

(0.20) $
(0.20) $

0.63
0.62

Loss per common share from discontinued operations:

Basic
Diluted
Earnings per common share:
Basic
Diluted

$
$

$
$

Weighted-average common shares:

Basic
Diluted
Cash dividends per common share

(0.15) $
(0.15) $

(0.29) $
(0.29) $

0.14
0.14

0.30
0.30

$
$

232,864
234,228
$

0.10

$
$

233,314
234,853
$

0.10

233,504
234,786
$

0.10

233,535
233,535
$

0.10 $

682,709
500,836
181,873

233,312
234,787
0.40