Revenue Recognition

12 Months Ended

Dec. 31, 2024

Revenue Recognition [Abstract]

Revenue Recognition

Revenue Recognition

The following tables disaggregate the Company’s revenue by major product type and geography (in millions):

	For the Year Ended December 31, 2024
	Off Road		On Road		Marine		Total
Revenue by product type
Wholegoods	$	4,183.8	$	804.7	$	480.5	$	5,469.0
PG&A	1,522.9		183.1		0.4		1,706.4
Total revenue	$	5,706.7	$	987.8	$	480.9	$	7,175.4
Revenue by geography
United States	$	4,709.8	$	452.5	$	466.7	$	5,629.0
Canada	396.2		38.9		11.1		446.2
EMEA	355.2		447.4		0.3		802.9
APLA	245.5		49.0		2.8		297.3
Total revenue	$	5,706.7	$	987.8	$	480.9	$	7,175.4

	For the Year Ended December 31, 2023
	Off Road		On Road		Marine		Total
Revenue by product type
Wholegoods	$	5,374.9	$	981.8	$	765.4	$	7,122.1
PG&A	1,609.5		202.8		—		1,812.3
Total revenue	$	6,984.4	$	1,184.6	$	765.4	$	8,934.4
Revenue by geography
United States	$	5,787.3	$	591.4	$	743.5	$	7,122.2
Canada	522.7		43.1		18.2		584.0
EMEA	405.3		480.2		0.7		886.2
APLA	269.1		69.9		3.0		342.0
Total revenue	$	6,984.4	$	1,184.6	$	765.4	$	8,934.4

	For the Year Ended December 31, 2022
	Off Road		On Road		Marine		Total
Revenue by product type
Wholegoods	$	4,999.9	$	956.5	$	989.4	$	6,945.8
PG&A	1,436.3		206.9		—		1,643.2
Total revenue	$	6,436.2	$	1,163.4	$	989.4	$	8,589.0
Revenue by geography
United States	$	5,233.3	$	614.2	$	961.7	$	6,809.2
Canada	536.0		43.5		27.2		606.7
EMEA	421.4		423.2		0.1		844.7
APLA	245.5		82.5		0.4		328.4
Total revenue	$	6,436.2	$	1,163.4	$	989.4	$	8,589.0

Contract Liabilities. Contract liabilities relate to deferred revenue recognized for cash consideration received at contract inception in advance of the Company's performance under the respective contract and generally relate to the sale of separately-priced ESCs. The Company finances its self-insured risks related to ESCs. The premiums for ESCs are

primarily recognized in income over the term of the agreement in proportion to the costs expected to be incurred in satisfying the obligations under the contract. Warranty costs are recognized as incurred.

The activity in the deferred revenue reserve for ESCs during the periods presented was as follows (in millions):

	For the Years Ended December 31,
	2024		2023		2022
Balance at beginning of year	$	110.3	$	111.1	$	108.3
New contracts sold	50.0		49.1		49.1
Revenue recognized on existing contracts	(49.0)		(49.9)		(46.3)
Balance at end of year	$	111.3	$	110.3	$	111.1

The Company expects to recognize approximately $35.6 million of the unearned amount over the 12 months following December 31, 2024, compared to $35.3 million as of December 31, 2023. These amounts were recorded in accrued expenses in the consolidated balance sheets. The amount recorded in other long-term liabilities totaled $75.7 million and $75.0 million as of December 31, 2024 and 2023, respectively.