Reportable Segments and Geographic Information (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Information by Industry Segment

Selected segment information is set forth below for the years ended December 31 (in thousands):


	2024		2023		2022
HDMC:
Revenue	$	4,121,906	$	4,844,594	$	4,887,672
Motorcycles and related products cost of goods sold	2,967,068		3,278,052		3,359,799
Gross profit	1,154,838		1,566,542		1,527,873
Selling, administrative and engineering expense:
People expenses(a)	364,416		417,109		358,105
Marketing and advertising expenses(b)	123,811		124,551		96,820
Other segment items(c)	388,767		363,731		395,861
Operating income	277,844		661,151		677,087
LiveWire:
Revenue	26,358		38,298		46,833
Motorcycles and related products cost of goods sold	38,872		44,254		43,929
Gross profit	(12,514)		(5,956)		2,904
Selling, administrative and engineering expense	97,125		110,853		88,219
Operating loss	(109,639)		(116,809)		(85,315)
HDFS:
Financial services revenue	1,038,538		953,586		820,625
Financial services interest expense	371,766		332,380		217,653
Financial services provision for credit losses	247,225		227,158		145,133
Selling and administrative expense	171,125		159,306		140,333
Operating income	248,422		234,742		317,506
Operating income	$	416,627	$	779,084	$	909,278

(a)People expenses include salary and related fringe costs, including payroll tax and health and welfare costs, as well as short-term incentive compensation and long-term incentive compensation, primarily in the form of share-based awards.

(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 as of December 31 (in thousands):


	HDMC		LiveWire		HDFS		Consolidated
2024:
Assets	$	3,630,710	$	147,960	$	8,102,909	$	11,881,579
Depreciation and amortization	$	141,275	$	10,041	$	9,357	$	160,673
Capital expenditures	$	186,639	$	8,068	$	1,856	$	196,563
2023:
Assets	$	3,644,016	$	266,404	$	8,230,134	$	12,140,554
Depreciation and amortization	$	143,355	$	5,832	$	8,925	$	158,112
Capital expenditures	$	188,863	$	13,462	$	5,079	$	207,404
2022:
Assets	$	3,254,309	$	351,422	$	7,886,745	$	11,492,476
Depreciation and amortization	$	138,875	$	4,401	$	8,666	$	151,942
Capital expenditures	$	133,191	$	14,081	$	4,397	$	151,669

Schedule of Segment Information by Geographical Locations

Included in the Consolidated financial statements are the following amounts relating to geographic locations for the years ended December 31 (in thousands):


	2024		2023		2022
HDMC revenue(a):
United States	$	2,814,482	$	3,289,227	$	3,253,875
EMEA	584,490		637,492		693,073
Canada	210,526		220,158		216,389
Japan	128,432		200,539		175,292
Australia and New Zealand	119,949		127,352		147,551
Other countries	264,027		369,826		401,492
	$	4,121,906	$	4,844,594	$	4,887,672
LiveWire revenue(a):
United States	21,461		31,483		36,256
International	4,897		6,815		10,577
	$	26,358	$	38,298	$	46,833
HDFS revenue(a):
United States	$	1,006,574	$	922,758	$	794,912
Canada	21,167		18,220		16,276
Europe	6,503		7,343		6,071
Other countries	4,294		5,265		3,366
	$	1,038,538	$	953,586	$	820,625
Long-lived assets(b):
United States	$	640,837	$	644,620	$	611,421
Thailand	113,094		82,197		72,474
Other countries	3,141		4,907		5,991
	116,235		87,104		78,465
	$	757,072	$	731,724	$	689,886

(a)Revenue is attributed to geographic regions based on location of customer.

(b)Long-lived assets include all long-term assets except those specifically excluded under ASC Topic 280, Segment Reporting, such as deferred income taxes and finance receivables.