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Reportable Segments
9 Months Ended
Sep. 25, 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 endedNine months ended
September 25,
2022
September 26,
2021
September 25,
2022
September 26,
2021
Motorcycles and Related Products:
Motorcycles revenue$1,436,962 $1,160,618 $4,006,604 $3,724,225 
Gross profit490,306 310,425 1,284,691 1,137,961 
Selling, administrative and engineering expense232,541 212,243 632,756 626,211 
Restructuring expense (benefit)517 (389)731 
Operating income257,762 97,665 652,324 511,019 
Financial Services:
Financial Services revenue211,613 204,692 606,244 595,650 
Financial Services expense130,657 98,047 353,003 275,487 
Restructuring expense— 98 — 436 
Operating income80,956 106,547 253,241 319,727 
Operating income$338,718 $204,212 $905,565 $830,746 
Total assets for the Motorcycles and Financial Services segments were $3.4 billion and $8.5 billion, respectively, as of September 25, 2022, $3.3 billion and $7.7 billion, respectively, as of December 31, 2021, and $3.0 billion and $8.2 billion, respectively, as of September 26, 2021.