v3.26.1
Revenue
 6 Months Ended
Jun. 30, 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 endedSix months ended
June 30,
2026		June 30,
2025		June 30,
2026		June 30,
2025
HDMC:
Motorcycles$848,057 $778,051 $1,684,351 $1,641,929 
Parts and accessories176,950 186,874 319,193 330,307 
Apparel56,068 55,240 113,380 112,564 
Licensing6,298 5,944 12,345 9,002 
Other16,907 17,540 30,482 31,353 
1,104,280 1,043,649 2,159,751 2,125,155 
LiveWire9,114 6,011 14,230 8,754 
Motorcycles and related products revenue1,113,394 1,049,660 2,173,981 2,133,909 
HDFS:
Interest income60,523 214,988 110,585 424,457 
Other56,520 42,450 118,402 77,942 
Financial services revenue117,043 257,438 228,987 502,399 
$1,230,437 $1,307,098 $2,402,968 $2,636,308 
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):
June 30,
2026		June 30,
2025
Balance, beginning of period$95,807 $56,753 
Balance, end of period$109,148 $81,914 
Previously recorded contract liabilities recognized as revenue in the three months ended June 30, 2026 and June 30, 2025 were $11.3 million and $9.4 million, respectively, and $23.3 million and $17.8 million in the six months ended June 30, 2026 and June 30, 2025, respectively. The Company expects to recognize approximately $41.7 million of the remaining unearned revenue over the next 12 months and $67.4 million thereafter.