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Reportable Segments and Geographic Information | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Reportable Segments and Geographic Information | Reportable Segments and Geographic Information The Company’s reportable segments and significant segment expenses are determined based on how the Company’s Chief Operating Decision Maker (CODM) assesses performance and decides how to allocate resources for the Company. The Company’s Chairman, President and Chief Executive Officer, is the Company’s CODM. Operating income is the measure of profit and loss used by the CODM to assess performance and to decide how to allocate resources for each of the Company’s reportable segments. Operating income is used to monitor actual results versus planned and prior period results for each segment based on their respective profitability objectives and business models. Operating income is also used to allocate human and capital resources among the reportable segments and to other corporate actions for returning capital to shareholders such as repurchasing common stock or paying dividends. Operating income is also a key metric used to establish and pay variable compensation to employees at all levels. Reportable Segments – The Company operates with three segments: Harley-Davidson Motor Company (HDMC), LiveWire, and Harley-Davidson Financial Services (HDFS). The Company's reportable segments are strategic business units that offer different products and services and are managed separately based on the fundamental differences in their operations. HDMC designs, manufactures and sells motorcycles and also sells motorcycle parts, accessories, and apparel as well as licenses its trademarks. HDMC’s products are sold to retail customers primarily through a network of independent dealers. HDMC conducts business on a global basis, with sales in the U.S., Canada, Europe/Middle East/Africa (EMEA), Asia Pacific, and Latin America. LiveWire sells electric motorcycles, electric balance bikes for kids, parts and accessories and apparel in the United States and certain international markets. Electric motorcycles, related parts and accessories and apparel are sold at wholesale to a network of independent dealers and at retail through a company-owned dealer, through online sales and direct to customers through select international partners primarily in Europe. Electric balance bikes and related parts and accessories are sold through independent retail partners and distributors and direct to consumers online. HDFS is engaged in the business of financing and servicing wholesale inventory receivables and retail consumer loans, primarily for the purchase of Harley-Davidson and LiveWire motorcycles. HDFS also works with certain unaffiliated third parties to provide motorcycle insurance and voluntary protection products to motorcycle owners. HDFS conducts business principally in the U.S. and Canada. Selected segment information is set forth below for the years ended December 31 (in thousands):
| 2024 |  | 2023 |  | 2022
HDMC: |  |  |  |  |
Revenue | $ | 4,121,906 |  |  | $ | 4,844,594 |  |  | $ | 4,887,672 |
Motorcycles and related products cost of goods sold | 2,967,068 |  |  | 3,278,052 |  |  | 3,359,799 |
Gross profit | 1,154,838 |  |  | 1,566,542 |  |  | 1,527,873 |
Selling, administrative and engineering expense: |  |  |  |  |
People expenses(a) | 364,416 |  |  | 417,109 |  |  | 358,105 |
Marketing and advertising expenses(b) | 123,811 |  |  | 124,551 |  |  | 96,820 |
Other segment items(c) | 388,767 |  |  | 363,731 |  |  | 395,861 |
Operating income | 277,844 |  |  | 661,151 |  |  | 677,087 |
LiveWire: |  |  |  |  |
Revenue | 26,358 |  |  | 38,298 |  |  | 46,833 |
Motorcycles and related products cost of goods sold | 38,872 |  |  | 44,254 |  |  | 43,929 |
Gross profit | (12,514) |  |  | (5,956) |  |  | 2,904 |
Selling, administrative and engineering expense | 97,125 |  |  | 110,853 |  |  | 88,219 |
Operating loss | (109,639) |  |  | (116,809) |  |  | (85,315) |
HDFS: |  |  |  |  |
Financial services revenue | 1,038,538 |  |  | 953,586 |  |  | 820,625 |
Financial services interest expense | 371,766 |  |  | 332,380 |  |  | 217,653 |
Financial services provision for credit losses | 247,225 |  |  | 227,158 |  |  | 145,133 |
Selling and administrative expense | 171,125 |  |  | 159,306 |  |  | 140,333 |
Operating income | 248,422 |  |  | 234,742 |  |  | 317,506 |
Operating income | $ | 416,627 |  |  | $ | 779,084 |  |  | $ | 909,278 |
(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 as of December 31 (in thousands):
| HDMC |  | LiveWire |  | HDFS |  | Consolidated
2024: |  |  |  |  |  |  |
Assets | $ | 3,630,710 |  |  | $ | 147,960 |  |  | $ | 8,102,909 |  |  | $ | 11,881,579 |
Depreciation and amortization | $ | 141,275 |  |  | $ | 10,041 |  |  | $ | 9,357 |  |  | $ | 160,673 |
Capital expenditures | $ | 186,639 |  |  | $ | 8,068 |  |  | $ | 1,856 |  |  | $ | 196,563 |
2023: |  |  |  |  |  |  |
Assets | $ | 3,644,016 |  |  | $ | 266,404 |  |  | $ | 8,230,134 |  |  | $ | 12,140,554 |
Depreciation and amortization | $ | 143,355 |  |  | $ | 5,832 |  |  | $ | 8,925 |  |  | $ | 158,112 |
Capital expenditures | $ | 188,863 |  |  | $ | 13,462 |  |  | $ | 5,079 |  |  | $ | 207,404 |
2022: |  |  |  |  |  |  |
Assets | $ | 3,254,309 |  |  | $ | 351,422 |  |  | $ | 7,886,745 |  |  | $ | 11,492,476 |
Depreciation and amortization | $ | 138,875 |  |  | $ | 4,401 |  |  | $ | 8,666 |  |  | $ | 151,942 |
Capital expenditures | $ | 133,191 |  |  | $ | 14,081 |  |  | $ | 4,397 |  |  | $ | 151,669 |
Geographic Information – Included in the Consolidated financial statements are the following amounts relating to geographic locations for the years ended December 31 (in thousands):
| 2024 |  | 2023 |  | 2022
HDMC revenue(a): |  |  |  |  |
United States | $ | 2,814,482 |  |  | $ | 3,289,227 |  |  | $ | 3,253,875 |
EMEA | 584,490 |  |  | 637,492 |  |  | 693,073 |
Canada | 210,526 |  |  | 220,158 |  |  | 216,389 |
Japan | 128,432 |  |  | 200,539 |  |  | 175,292 |
Australia and New Zealand | 119,949 |  |  | 127,352 |  |  | 147,551 |
Other countries | 264,027 |  |  | 369,826 |  |  | 401,492 |
| $ | 4,121,906 |  |  | $ | 4,844,594 |  |  | $ | 4,887,672 |
LiveWire revenue(a): |  |  |  |  |
United States | 21,461 |  |  | 31,483 |  |  | 36,256 |
International | 4,897 |  |  | 6,815 |  |  | 10,577 |
| $ | 26,358 |  |  | $ | 38,298 |  |  | $ | 46,833 |
HDFS revenue(a): |  |  |  |  |
United States | $ | 1,006,574 |  |  | $ | 922,758 |  |  | $ | 794,912 |
Canada | 21,167 |  |  | 18,220 |  |  | 16,276 |
Europe | 6,503 |  |  | 7,343 |  |  | 6,071 |
Other countries | 4,294 |  |  | 5,265 |  |  | 3,366 |
| $ | 1,038,538 |  |  | $ | 953,586 |  |  | $ | 820,625 |
Long-lived assets(b): |  |  |  |  |
United States | $ | 640,837 |  |  | $ | 644,620 |  |  | $ | 611,421 |
Thailand | 113,094 |  |  | 82,197 |  |  | 72,474 |
Other countries | 3,141 |  |  | 4,907 |  |  | 5,991 |
| 116,235 |  |  | 87,104 |  |  | 78,465 |
| $ | 757,072 |  |  | $ | 731,724 |  |  | $ | 689,886 |
(a)Revenue is attributed to geographic regions based on location of customer. (b)Long-lived assets include all long-term assets except those specifically excluded under ASC Topic 280, Segment Reporting, such as deferred income taxes and finance receivables.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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