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Revenue
6 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
The Company recognizes revenue when it satisfies a performance obligation by transferring control of a good or service to a customer. Revenue is measured based on the consideration that the Company expects to be entitled to in exchange for the goods or services transferred. Taxes that are collected from a customer concurrent with revenue-producing activities are excluded from revenue.
Disaggregated revenue by major source was as follows (in thousands):
Three months endedSix months ended
June 30,
2025
June 30,
2024
June 30,
2025
June 30,
2024
HDMC:
Motorcycles$778,051 $1,068,693 $1,641,929 $2,290,233 
Parts and accessories186,874 193,865 330,307 360,058 
Apparel55,240 63,393 112,564 127,504 
Licensing5,944 5,485 9,002 14,414 
Other17,540 17,470 31,353 32,803 
1,043,649 1,348,906 2,125,155 2,825,012 
LiveWire6,011 6,448 8,754 11,152 
Motorcycles and related products revenue1,049,660 1,355,354 2,133,909 2,836,164 
HDFS:
Interest income214,988 222,578 424,457 433,913 
Other42,450 40,961 77,942 78,423 
Financial services revenue257,438 263,539 502,399 512,336 
$1,307,098 $1,618,893 $2,636,308 $3,348,500 
The Company maintains certain contract liability balances related to payments received at contract inception in advance of the Company’s performance under the contract which generally relate to the sale of memberships, loyalty points earned under membership programs and certain licensing and insurance-related contracts. Contract liabilities are recognized as revenue as the Company performs under the contract. Contract liabilities, included in Accrued liabilities and Other long-term liabilities on the Consolidated balance sheets, was as follows (in thousands):
June 30,
2025
June 30,
2024
Balance, beginning of period$56,753 $47,091 
Balance, end of period$81,914 $52,717 
Previously recorded contract liabilities recognized as revenue in the three months ended June 30, 2025 and June 30, 2024 were $9.4 million and $7.6 million, respectively, and $17.8 million and $14.9 million in the six months ended June 30, 2025 and June 30, 2024, respectively. The Company expects to recognize approximately $30.3 million of the remaining unearned revenue over the next 12 months and $51.6 million thereafter.