Reportable Segments

9 Months Ended

Sep. 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				Nine months ended
	September 30, 2023		September 25, 2022		September 30, 2023		September 25, 2022
HDMC:
Revenue	$	1,296,981	$	1,422,254	$	4,052,946	$	3,968,989
Gross profit	410,690		489,341		1,385,190		1,284,063
Selling, administrative and engineering expense	235,437		210,227		679,864		575,364
Restructuring expense (benefit)	—		3		—		(389)
Operating income	175,253		279,111		705,326		709,088
LiveWire:
Revenue	8,144		14,708		22,932		37,615
Gross profit (loss)	1,092		965		(584)		628
Selling, administrative and engineering expense	26,435		22,314		81,290		57,392
Operating loss	(25,343)		(21,349)		(81,874)		(56,764)
HDFS:
Financial services revenue	243,934		211,613		707,390		606,244
Financial services expense	184,559		130,657		530,610		353,003
Operating income	59,375		80,956		176,780		253,241
Operating income	$	209,285	$	338,718	$	800,232	$	905,565

Total assets for the HDMC, LiveWire and HDFS segments were $3.5 billion, $0.3 billion and $8.6 billion, respectively, as of September 30, 2023, $3.3 billion, $0.4 billion and $7.9 billion, respectively, as of December 31, 2022, and $3.2 billion, $0.2 billion and $8.5 billion, respectively, as of September 25, 2022.