
	Three months ended				Six months ended
	June 30, 2026		June 30, 2025		June 30, 2026		June 30, 2025
Net income attributable to Harley-Davidson, Inc.	$	79,805	$	107,569	$	104,578	$	240,673
Adjustment(a)	1,434		—		—		—
Net income attributable to Harley-Davidson, Inc. - dilutive	81,239		107,569		104,578		240,673

Basic weighted-average shares outstanding	105,099		121,521		107,544		122,727
Effect of dilutive securities	3,469		682		781		730
Diluted weighted-average shares outstanding	108,568		122,203		108,325		123,457
Net earnings per share:
Basic	$	0.76	$	0.89	$	0.97	$	1.96
Diluted	$	0.75	$	0.88	$	0.97	$	1.95

(a)For the periods in which the impact is dilutive, represents an adjustment related to HDFS earnings attributable to non-controlling interest holders to arrive at net income attributable to Harley-Davidson, Inc. on a dilutive basis as the dilutive earnings per share calculation assumes the securities held by non-controlling interest holders that can be exchanged for Harley-Davidson, Inc. shares were exchanged for Harley-Davidson, Inc. shares as of the beginning of the period under U.S. GAAP as discussed below.

The Company's dilutive securities include those relating to its employee stock compensation plan. In addition, non-controlling interest holders (the counterparties) hold securities representing in the aggregate a 9.8% non-controlling interest in the HDFS business that can be exchanged for Harley-Davidson, Inc. common stock. The securities related to the HDFS non-controlling interests can be exchanged for Harley-Davidson, Inc. common stock based on the 30-day volume weighted average price of the Company's common stock and a multiple of approximately 1.75x HDFS' equity carrying value. The non-controlling interest holders may exchange their interests beginning in the fourth quarter of 2032 or in the event of a change of control of Harley-Davidson, Inc. The number of shares received by the non-controlling interest holders cannot exceed 4.9% of the outstanding Harley-Davidson, Inc. common stock. Starting in the fourth quarter of 2028, the Company has the right to repurchase the counterparties' ownership interests in HDFS using cash that would otherwise be available to the Company in the form of a dividend from HDFS; however, the Company may not purchase any more than one-third of the counterparties' HDFS ownership in an individual year. The securities related to the HDFS non-controlling interests were dilutive during the three months ended June 30, 2026 and anti-dilutive during the six months ended June 30, 2026. The securities related to the HDFS non-controlling interests had not been issued in the three months or six months ended June 30, 2025.