XML 38 R26.htm IDEA: XBRL DOCUMENT v3.21.2
Business Segments
9 Months Ended
Sep. 26, 2021
Segment Reporting [Abstract]  
Business Segments Business Segments
Harley-Davidson, Inc. is the parent company for the groups of companies referred to as Harley-Davidson Motor Company (HDMC) and Harley-Davidson Financial Services (HDFS). The Company operates in two business segments: Motorcycles and Related Products (Motorcycles) and Financial Services. 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.
The Motorcycles segment consists of HDMC which designs, manufactures and sells Harley-Davidson motorcycles as well as motorcycle parts, accessories, general merchandise and services. The Company's products are sold to retail customers primarily through a network of independent dealers.
The Financial Services segment consists of HDFS which is engaged in the business of financing and servicing wholesale inventory receivables and retail consumer loans, primarily for the purchase of Harley-Davidson motorcycles. HDFS also works with certain unaffiliated insurance companies to provide motorcycle insurance and protection products to motorcycle owners.
Select segment information is set forth below (in thousands):
 Three months endedNine months ended
September 26,
2021
September 27,
2020
September 26,
2021
September 27,
2020
Motorcycles and Related Products:
Motorcycles revenue$1,160,618 $964,029 $3,724,225 $2,733,091 
Gross profit310,425 287,233 1,137,961 713,781 
Selling, administrative and engineering expense212,243 196,912 626,211 618,912 
Restructuring expense517 43,581 731 84,586 
Operating income97,665 46,740 511,019 10,283 
Financial Services:
Financial Services revenue204,692 201,655 595,650 596,064 
Financial Services expense98,047 110,177 275,487 475,771 
Restructuring expense98 334 436 1,278 
Operating income106,547 91,144 319,727 119,015 
Operating income$204,212 $137,884 $830,746 $129,298 
Total assets for the Motorcycles and Financial Services segments were $3.0 billion and $8.2 billion, respectively, as of September 26, 2021, $2.5 billion and $9.5 billion, respectively, as of December 31, 2020, and $2.4 billion and $10.1 billion, respectively, as of September 27, 2020.