Reportable Segments

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Reportable Segments

Reportable Segments

The Company operates in three business segments: HDMC, LiveWire and 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. The Company changed its segments in the period ended December 31, 2022. The change has been retrospectively reflected in the periods presented below.

Selected segment information is set forth below (in thousands):

	Three months ended
	March 31, 2023		March 27, 2022
HDMC:
Revenue	$	1,557,829	$	1,292,770
Gross profit	557,026		407,582
Selling, administrative and engineering expense	221,290		188,776
Restructuring benefit	—		(128)
Operating income	335,736		218,934
LiveWire:
Revenue	7,762		10,401
Gross profit	1,264		53
Selling, administrative and engineering expense	25,811		16,112
Operating loss	(24,547)		(16,059)
HDFS:
Financial services revenue	223,095		192,015
Financial services expense	164,675		105,658
Operating income	58,420		86,357
Operating income	$	369,609	$	289,232

Total assets for the HDMC, LiveWire and HDFS segments were $3.1 billion, $325.8 million and $8.6 billion, respectively, as of March 31, 2023, $3.3 billion, $351.4 million and $7.9 billion, respectively, as of December 31, 2022, and $2.9 billion, $75.7 million and $7.9 billion, respectively, as of March 27, 2022.