Reportable Segments

6 Months Ended

Jun. 30, 2023

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. The Company changed its segments in the period ended December 31, 2022. The change has been retrospectively reflected in the periods presented below.

Selected segment information is set forth below (in thousands):

	Three months ended				Six months ended
	June 30, 2023		June 26, 2022		June 30, 2023		June 26, 2022
HDMC:
Revenue	$	1,198,136	$	1,253,965	$	2,755,965	$	2,546,735
Gross profit	417,474		387,140		974,500		794,722
Selling, administrative and engineering expense	223,137		176,361		444,427		365,137
Restructuring benefit	—		(264)		—		(392)
Operating income	194,337		211,043		530,073		429,977
LiveWire:
Revenue	7,026		12,506		14,788		22,907
Gross profit	(2,940)		(390)		(1,676)		(337)
Selling, administrative and engineering expense	29,044		18,966		54,855		35,078
Operating loss	(31,984)		(19,356)		(56,531)		(35,415)
HDFS:
Financial services revenue	240,361		202,616		463,456		394,631
Financial services expense	181,376		116,688		346,051		222,346
Operating income	58,985		85,928		117,405		172,285
Operating income	$	221,338	$	277,615	$	590,947	$	566,847

Total assets for the HDMC, LiveWire and HDFS segments were $3.4 billion, $310.5 million and $8.3 billion, respectively, as of June 30, 2023, $3.3 billion, $351.4 million and $7.9 billion, respectively, as of December 31, 2022, and $2.9 billion, $77.2 million and $9.1 billion, respectively, as of June 26, 2022.