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Employee Benefit Plans
6 Months Ended
Jun. 30, 2024
Retirement Benefits [Abstract]  
Employee Benefit Plans Employee Benefit Plans
The Company has a qualified pension plan and postretirement healthcare benefit plans. The plans cover certain eligible employees and retirees of the HDMC segment. The Company also has unfunded supplemental employee retirement plan agreements (SERPA) with certain employees. Service cost is allocated among Selling, administrative and engineering expense, Motorcycles and related products cost of goods sold and Inventories, net. Amounts capitalized in inventory are not significant. Non-service cost components of net periodic benefit (income) cost are presented in Other income, net. Components of net periodic benefit (income) cost for the Company's defined benefit plans were as follows (in thousands):
 Three months endedSix months ended
June 30,
2024
June 30,
2023
June 30,
2024
June 30,
2023
Pension and SERPA Benefits:
Service cost$1,175 $1,294 $2,350 $2,588 
Interest cost20,118 20,476 40,237 40,952 
Expected return on plan assets(33,143)(36,519)(66,286)(73,038)
Amortization of unrecognized:
Prior service cost
188 188 376 376 
Net gain
(163)(181)(326)(362)
Settlement gain
— — — (222)
Special retirement benefit cost
1,722 — 1,722 — 
Net periodic benefit income$(10,103)$(14,742)$(21,927)$(29,706)
Postretirement Healthcare Benefits:
Service cost$723 $797 $1,446 $1,594 
Interest cost2,694 2,772 5,388 5,544 
Expected return on plan assets(4,424)(4,281)(8,848)(8,562)
Amortization of unrecognized:
Prior service cost (credit)
149 (166)298 (332)
Net gain
(1,250)(1,097)(2,500)(2,194)
Net periodic benefit income$(2,108)$(1,975)$(4,216)$(3,950)
There are no required or planned voluntary qualified pension plan contributions for 2024. The Company expects it will continue to make ongoing benefit payments under the SERPA and postretirement healthcare plans.