Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and Intangible Assets

Changes in the carrying amount of goodwill in the HDMC and LiveWire segments for the years ended December 31, was as follows (in thousands): 

	2024
	HDMC		LiveWire		Total
Balance, beginning of period	$	54,369	$	8,327	$	62,696
Currency translation	(1,041)		—		(1,041)
Balance, end of period	$	53,328	$	8,327	$	61,655

	2023
	HDMC		LiveWire		Total
Balance, beginning of period	$	53,763	$	8,327	$	62,090
Currency translation	606		—		606
Balance, end of period	$	54,369	$	8,327	$	62,696

The HDFS segment had no goodwill at December 31, 2024 or December 31, 2023.

Intangible assets, excluding goodwill, consist primarily of customer relationships and trademarks with useful lives ranging from 3 to 20 years. Intangible assets are amortized on a straight-line basis over their estimated useful lives. Intangible assets are recorded in Other long-term assets on the Consolidated balance sheets. Intangible assets at December 31, were as

follows (in thousands):

	2024		2023
Gross carrying amount	$	11,889	$	12,475
Accumulated amortization	(6,315)		(5,447)
	$	5,574	$	7,028

Amortization of intangible assets, excluding goodwill, recorded in Selling, administrative and engineering expense on the Consolidated statements of operations was $1.1 million, $0.9 million and $0.8 million for 2024, 2023 and 2022, respectively. Future amortization of the Company's intangible assets as of December 31, 2024 is as follows (in thousands):

2025	$	1,084
2026	1,003
2027	600
2028	600
2029	410
Thereafter	1,877
	$	5,574