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Reportable Segments
3 Months Ended
Mar. 27, 2022
Segment Reporting [Abstract]  
Reportable Segments Reportable Segments
Harley-Davidson, Inc. is the parent company for the groups of companies referred to as Harley-Davidson Motor Company and Harley-Davidson Financial Services. 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 the activities of Harley-Davidson Motor Company which designs, manufactures and sells motorcycles. The Motorcycles segment also sells motorcycle parts, accessories, and apparel as well as licenses its trademarks. The Company's products are sold to retail customers primarily through a network of dealers.
The Financial Services segment consists of Harley-Davidson Financial Services 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. Harley-Davidson Financial Services also works with certain unaffiliated insurance companies to provide motorcycle insurance and protection products to motorcycle owners.
Selected segment information is set forth below (in thousands):
 Three months ended
March 27,
2022
March 28,
2021
Motorcycles and Related Products:
Motorcycles revenue$1,303,171 $1,232,107 
Gross profit407,635 420,485 
Selling, administrative and engineering expense204,888 193,546 
Restructuring benefit(128)(593)
Operating income202,875 227,532 
Financial Services:
Financial Services revenue192,015 190,400 
Financial Services expense105,658 71,531 
Restructuring expense— 227 
Operating income86,357 118,642 
Operating income$289,232 $346,174 
Total assets for the Motorcycles and Financial Services segments were $3.0 billion and $7.9 billion, respectively, as of March 27, 2022, $3.3 billion and $7.7 billion, respectively, as of December 31, 2021, and $2.4 billion and $8.9 billion, respectively, as of March 28, 2021.