Employee Benefit Plans

3 Months Ended

Mar. 31, 2025

Retirement Benefits [Abstract]

Employee Benefit Plans

Employee Benefit Plans

The Company has a qualified pension plan and postretirement healthcare benefit plans. The plans cover certain eligible employees and retirees of the HDMC segment. The Company also has unfunded supplemental employee retirement plan agreements (SERPA) with certain employees. Service cost is allocated among Selling, administrative and engineering expense, Motorcycles and related products cost of goods sold and Inventories, net. Amounts capitalized in inventory are not significant. Non-service cost components of net periodic benefit (income) cost are presented in Other income, net. Components of net periodic benefit (income) cost for the Company's defined benefit plans were as follows (in thousands):

	Three months ended
	March 31, 2025		March 31, 2024
Pension and SERPA Benefits:
Service cost	$	963	$	1,175
Interest cost	20,501		20,118
Expected return on plan assets	(32,799)		(33,143)
Amortization of unrecognized:
Prior service cost	380		188
Net gain	(174)		(163)
Net periodic benefit income	$	(11,129)	$	(11,825)
Postretirement Healthcare Benefits:
Service cost	$	643	$	723
Interest cost	2,618		2,694
Expected return on plan assets	(4,675)		(4,424)
Amortization of unrecognized:
Prior service cost (credit)	149		149
Net gain	(1,369)		(1,250)
Net periodic benefit income	$	(2,634)	$	(2,108)

There are no required or planned voluntary qualified pension plan contributions for 2025. The Company expects it will continue to make ongoing benefit payments under the SERPA and postretirement healthcare plans.