Earnings Per Share

6 Months Ended

Jun. 30, 2025

The computation of basic and diluted earnings per share was as follows (in thousands, except per share amounts):


	Three months ended				Six months ended
	June 30, 2025		June 30, 2024		June 30, 2025		June 30, 2024
Net income attributable to Harley-Davidson, Inc.	$	107,569	$	218,269	$	240,673	$	453,210

Basic weighted-average shares outstanding	121,521		133,412		122,727		134,759
Effect of dilutive securities – employee stock compensation plan	682		697		730		754
Diluted weighted-average shares outstanding	122,203		134,109		123,457		135,513
Net earnings per share:
Basic	$	0.89	$	1.64	$	1.96	$	3.36
Diluted	$	0.88	$	1.63	$	1.95	$	3.34

Shares of common stock related to share-based compensation that were not included in the effect of dilutive securities because the effect would have been anti-dilutive include 1.7 million and 0.5 million shares for the three months ended June 30, 2025 and June 30, 2024, respectively, and 2.1 million and 1.1 million shares for the six months ended June 30, 2025 and June 30, 2024, respectively.