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Revenue | 9 Months Ended
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Sep. 30, 2025
Revenue from Contract with Customer [Abstract] |
Revenue | Revenue The Company recognizes revenue when it satisfies a performance obligation by transferring control of a good or service to a customer. Revenue is measured based on the consideration that the Company expects to be entitled to in exchange for the goods or services transferred. Taxes that are collected from a customer concurrent with revenue-producing activities are excluded from revenue. Disaggregated revenue by major source was as follows (in thousands):
| Three months ended |  | Nine months ended
| September 30, 2025 |  | September 30, 2024 |  | September 30, 2025 |  | September 30, 2024
HDMC: |  |  |  |  |  |  |
Motorcycles | $ | 821,864 |  |  | $ | 615,628 |  |  | $ | 2,463,793 |  |  | $ | 2,905,861 |
Parts and accessories | 167,252 |  |  | 174,301 |  |  | 497,558 |  |  | 534,359 |
Apparel | 56,052 |  |  | 55,688 |  |  | 168,614 |  |  | 183,192 |
Licensing | 5,547 |  |  | 3,897 |  |  | 14,549 |  |  | 18,312 |
Other | 23,244 |  |  | 26,891 |  |  | 54,599 |  |  | 59,693 |
| 1,073,959 |  |  | 876,405 |  |  | 3,199,113 |  |  | 3,701,417 |
LiveWire | 5,563 |  |  | 4,808 |  |  | 14,318 |  |  | 15,958 |
Motorcycles and related products revenue | 1,079,522 |  |  | 881,213 |  |  | 3,213,431 |  |  | 3,717,375 |
HDFS: |  |  |  |  |  |  |
Interest income | 198,239 |  |  | 232,990 |  |  | 622,696 |  |  | 666,903 |
Other | 62,949 |  |  | 36,492 |  |  | 140,891 |  |  | 114,915 |
Financial services revenue | 261,188 |  |  | 269,482 |  |  | 763,587 |  |  | 781,818 |
| $ | 1,340,710 |  |  | $ | 1,150,695 |  |  | $ | 3,977,018 |  |  | $ | 4,499,193 |
The Company maintains certain contract liability balances related to payments received at contract inception in advance of the Company’s performance under the contract which generally relate to the sale of memberships, loyalty points earned under membership programs and certain licensing and insurance-related contracts. Contract liabilities are recognized as revenue as the Company performs under the contract. Contract liabilities, included in Accrued liabilities and Other long-term liabilities on the Consolidated balance sheets, was as follows (in thousands):
| September 30, 2025 |  |  |  | September 30, 2024
Balance, beginning of period | $ | 56,753 |  |  |  |  | $ | 47,091 |
Balance, end of period | $ | 93,221 |  |  |  |  | $ | 54,792 |
Previously recorded contract liabilities recognized as revenue in the three months ended September 30, 2025 and September 30, 2024 were $8.3 million and $7.3 million, respectively, and $26.1 million and $22.2 million in the nine months ended September 30, 2025 and September 30, 2024, respectively. The Company expects to recognize approximately $33.7 million of the remaining unearned revenue over the next 12 months and $59.5 million thereafter.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-7 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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