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Subsequent Event
9 Months Ended
Sep. 30, 2025
Subsequent Events [Abstract]  
Subsequent Event
Note 12. Subsequent Events
On October 10, 2025, certain wholly owned subsidiaries of the Company entered into a definitive agreement to sell a majority stake in the Indian Motorcycle business. The close of the transaction is currently expected to occur in the first quarter of 2026, subject to the satisfaction or waiver of customary closing conditions. Under U.S. GAAP, the Indian Motorcycle business, which is included in the Company’s On Road segment, will be classified as held for sale beginning in the fourth quarter of 2025. Accordingly, the Company will be required to record the assets related to the Indian Motorcycle business at fair value, less an amount of estimated transaction costs. The Company currently expects estimated pre-tax charges of approximately $275 million to $325 million, or approximately $230 million to $280 million net of an expected tax benefit of approximately $45 million. These estimated charges are inclusive of long-lived asset impairment charges recorded during the three months ended September 30, 2025 as discussed in Note 1. The charges include future cash expenditures of approximately $100 million. These estimates may change in the future.