Shareholders, potential investors, and other readers are urged to consider these factors in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements.We managed COVID-19 impacts, kept our community well-being at the forefront, protected liquidity and delivered 250 million in cash savings.We also successfully overhauled the entire company through The Rewire, building a strong foundation to successfully implement our new 5-year strategic plan, The Hardwire, said Jochen Zeitz, chairman, president and CEO, Harley-Davidson.The entire Harley-Davidson team put forth tremendous effort in 2020 and we now have the right organization, structure and strategy in place to make step changes in our performance and enhance our position as the most desirable motorcycle brand in the world.
Bottom-line results reflect a loss for the quarter and nominal net income for the full year with Financial Services segment operating income offsetting Motorcycles and Related Products segment operating losses for the year. Fourth quarter global retail motorcycle sales also reflected the impact of tight inventory and the model year shift. ![]() Harley-Davidson generated 1.2 billion of cash from operating activities in 2020 compared to 868 million in 2019. Our vision: Building our legend and leading our industry through innovation, evolution and emotion. ![]() Our ambition is to maintain our place as the most desirable motorcycle brand in the world. Since 1903, Harley-Davidson has defined motorcycle culture by delivering a motorcycle lifestyle with distinctive and customizable motorcycles, experiences, motorcycle accessories, riding gear and apparel. The audio replay will be available at approximately 10:30 a.m. CT. The non-GAAP measures described below are intended to be considered by users as supplemental information to the equivalent GAAP measures, to aid investors in better understanding the companys financial results. The company believes that these non-GAAP measures provide useful perspective on underlying business results and trends, and a means to assess period-over-period results. These non-GAAP measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. These non-GAAP measures may not be the same as similarly titled measures used by other companies due to possible differences in method and in items or events being adjusted. Restructuring plan costs include restructuring expenses as presented in the consolidated statements of operations and costs associated with temporary inefficiencies incurred in connection with the manufacturing optimization initiative included in Motorcycles and Related Products cost of goods sold. The impact of tariffs includes incremental European Union and China tariffs imposed beginning in 2018 on the companys products shipped from the U.S., as well as incremental U.S. China. ![]() These adjustments are consistent with the approach used for 2018 to determine performance relative to financial objectives under the companys incentive compensation plans. These non-GAAP measures, as well as a reconciliation of the comparable GAAP measure to these non-GAAP measures, are included later in this press release. These forward-looking statements can generally be identified as such by reference to this footnote or because the context of the statement will include words such as the company believes, anticipates, expects, plans, may, will, estimates, targets, intend, is on-track or words of similar meaning. Similarly, statements that describe or refer to future expectations, future plans, strategies, objectives, outlooks, targets, guidance, commitments or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially, unfavorably or favorably, from those anticipated as of the date of this press release.
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