v3.26.1
Reportable Segments
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Reportable Segments Reportable Segments
The Company operates in three business segments: HDMC, LiveWire and HDFS. The Company's reportable segments are strategic business units that offer different products and services and are managed separately based on the fundamental differences in their operations.
Selected segment information is set forth below (in thousands):
Three months endedSix months ended
June 30,
2026		June 30,
2025		June 30,
2026		June 30,
2025
HDMC:
Revenue$1,104,280 $1,043,649 $2,159,751 $2,125,155 
Motorcycles and related products cost of goods sold800,154 744,944 1,588,636 1,511,206 
Gross profit304,126 298,705 571,115 613,949 
Selling, administrative and engineering expense:
People expenses(a)
90,880 90,566 192,668 171,874 
Marketing and advertising expenses(b)
44,676 48,919 81,038 80,914 
Other segment items(c)
96,232 97,904 206,146 183,574 
Operating income
72,338 61,316 91,263 177,587 
LiveWire:
Revenue9,114 6,011 14,230 8,754 
Motorcycles and related products cost of goods sold9,162 5,849 14,813 10,373 
Gross (loss) profit(48)162 (583)(1,619)
Selling, administrative and engineering expense
17,879 18,815 35,015 36,842 
Operating loss(17,927)(18,653)(35,598)(38,461)
HDFS:
Financial services revenue117,043 257,438 228,987 502,399 
Financial services interest expense30,562 93,574 69,859 182,508 
Financial services provision for credit losses17,643 49,738 30,796 103,072 
Selling and administrative expense47,239 44,353 84,495 83,010 
Operating income21,599 69,773 43,837 133,809 
Operating income$76,010 $112,436 $99,502 $272,935 
(a)People expenses include salary and related fringe costs, including payroll tax and health and welfare costs, short-term incentive compensation and long-term incentive compensation, primarily in the form of share-based awards and one-time employee termination benefits.
(b)Marketing and advertising expenses include costs related to digital and print media, social media, website maintenance, consumer experiences, product placement, sponsorships and market research.
(c)Other segment items for HDMC include depreciation, warranty, maintenance and facilities costs, supplies and materials, and other professional services.  These costs are all included in Selling, administrative and engineering expense.
Additional segment information is set forth below (in thousands): 
(Unaudited)(Unaudited)
June 30,
2026		December 31,
2025		June 30,
2025
Assets:
HDMC$3,681,633 $3,866,701 $3,616,903 
LiveWire117,943 146,518 109,770 
HDFS3,446,289 4,031,596 8,323,772 
Consolidated$7,245,865 $8,044,815 $12,050,445 
Three months endedSix months ended
June 30,
2026		June 30,
2025		June 30,
2026		June 30,
2025
Depreciation and Amortization:
HDMC$39,644 $35,420 $80,651 $71,679 
LiveWire2,245 2,588 4,660 5,673 
HDFS675 2,417 1,392 4,777 
Consolidated$42,564 $40,425 $86,703 $82,129 
Six months ended
June 30,
2026		June 30,
2025
Capital expenditures:
HDMC$43,060 $63,287 
LiveWire1,534 2,043 
HDFS100 230 
Consolidated$44,694 $65,560