v3.26.1
Revenue
 3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
The Company recognizes revenue when it satisfies a performance obligation by transferring control of a good or service to a customer. Revenue is measured based on the consideration that the Company expects to be entitled to in exchange for the goods or services transferred. Taxes that are collected from a customer concurrent with revenue-producing activities are excluded from revenue.
Disaggregated revenue by major source was as follows (in thousands):
Three months ended
March 31,
2026		March 31,
2025
HDMC:
Motorcycles$836,294 $863,863 
Parts and accessories142,243 143,433 
Apparel57,313 57,322 
Licensing6,048 3,058 
Other13,573 13,829 
1,055,471 1,081,505 
LiveWire5,116 2,743 
Motorcycles and related products revenue1,060,587 1,084,248 
HDFS:
Interest income50,062 209,469 
Other61,882 35,492 
Financial services revenue111,944 244,961 
$1,172,531 $1,329,209 
The Company maintains certain contract liability balances related to payments received at contract inception in advance of the Company’s performance under the contract which generally relate to the sale of memberships and certain licensing and insurance-related contracts, including unearned premiums collected by Eaglemark Insurance Company Ltd., the Company's insurance captive. Contract liabilities are recognized as revenue as the Company performs under the contract. Contract liabilities, included in Accrued liabilities and Other long-term liabilities on the Consolidated balance sheets, was as follows (in thousands):
March 31,
2026		March 31,
2025
Balance, beginning of period$95,807 $56,753 
Balance, end of period$97,144 $67,145 
Previously recorded contract liabilities recognized as revenue in the three months ended March 31, 2026 and March 31, 2025 were $12.0 million and $8.4 million, respectively. The Company expects to recognize approximately $36.2 million of the remaining unearned revenue over the next 12 months and $60.9 million thereafter.