XML 61 R40.htm IDEA: XBRL DOCUMENT v3.25.3
Reportable Segments (Tables)
9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
Selected segment information is set forth below (in thousands):
 Three months endedNine months ended
September 30,
2025
September 30,
2024
September 30,
2025
September 30,
2024
HDMC:
Revenue$1,073,959 $876,405 $3,199,113 $3,701,417 
Motorcycles and related products cost of goods sold790,849 612,592 2,302,054 2,543,407 
Gross profit283,110 263,813 897,059 1,158,010 
Selling, administrative and engineering expense:
People expenses(a)
92,212 76,197 264,086 289,944 
Marketing and advertising expenses(b)
40,610 30,850 121,524 96,070 
Other segment items(c)
96,169 101,629 279,742 280,508 
Operating income
54,119 55,137 231,707 491,488 
LiveWire:
Revenue5,563 4,808 14,318 15,958 
Motorcycles and related products cost of goods sold7,834 5,988 18,207 22,865 
Gross profit(2,271)(1,180)(3,889)(6,907)
Selling, administrative and engineering expense
15,910 24,905 52,752 76,587 
Operating loss(18,181)(26,085)(56,641)(83,494)
HDFS:
Financial services revenue261,188 269,482 763,587 781,818 
Financial services interest expense75,883 94,463 258,391 276,943 
Financial services provision for credit losses(301,499)57,977 (198,427)175,017 
Selling and administrative expense47,984 40,298 130,994 127,876 
Operating income438,820 76,744 572,629 201,982 
Operating income$474,758 $105,796 $747,695 $609,976 
(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 (in thousands): 
 (Unaudited)(Unaudited)
September 30,
2025
December 31,
2024
September 30,
2024
Assets:
HDMC$3,545,022 $3,630,710 $3,654,334 
LiveWire89,220 147,960 178,298 
HDFS6,932,142 8,102,909 9,194,027 
Consolidated$10,566,384 $11,881,579 $13,026,659 
 Three months endedNine months ended
September 30,
2025
September 30,
2024
September 30,
2025
September 30,
2024
Depreciation and Amortization:
HDMC$39,472 $34,142 $111,151 $104,868 
LiveWire2,354 2,695 8,027 7,737 
HDFS2,384 2,355 7,161 6,963 
Consolidated$44,210 $39,192 $126,339 $119,568 
 Nine months ended
September 30,
2025
September 30,
2024
Capital expenditures:
HDMC$98,894 $132,634 
LiveWire2,778 6,661 
HDFS418 1,129 
Consolidated$102,090 $140,424