Harley-Davidson (HOG) 10-Q 3 Nov 22 2022 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 25, 2022	Oct. 28, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 25, 2022
Document Transition Report	false
Entity File Number	1-9183
Entity Registrant Name	Harley-Davidson, Inc.
Entity Incorporation, State or Country Code	WI
Entity Tax Identification Number	39-1382325
Entity Address, Address Line One	3700 West Juneau Avenue
Entity Address, City or Town	Milwaukee
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	53208
City Area Code	414
Local Phone Number	342-4680
Title of 12(b) Security	Common Stock Par Value $.01 PER SHARE
Trading Symbol	HOG
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		146,184,014
Entity Central Index Key	0000793952
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 25, 2022	Sep. 26, 2021	Sep. 25, 2022	Sep. 26, 2021
Revenue:
Motorcycles and Related Products	$ 1,436,962	$ 1,160,618	$ 4,006,604	$ 3,724,225
Financial Services	211,613	204,692	606,244	595,650
Total revenue	1,648,575	1,365,310	4,612,848	4,319,875
Costs and expenses:
Motorcycles and Related Products cost of goods sold	946,656	850,193	2,721,913	2,586,264
Financial Services interest expense	60,740	44,770	150,488	149,098
Financial Services provision for credit losses	36,617	11,208	94,572	4,935
Selling, administrative and engineering expense	265,841	254,312	740,699	747,665
Restructuring expense (benefit)	3	615	(389)	1,167
Total costs and expenses	1,309,857	1,161,098	3,707,283	3,489,129
Operating income	338,718	204,212	905,565	830,746
Other income, net	9,358	858	30,443	1,825
Investment income (loss)	1,723	198	(3,786)	4,331
Interest expense	8,124	7,779	23,555	23,209
Income before provision for income taxes	341,675	197,489	908,667	813,693
Provision for income taxes	80,489	34,516	209,130	185,236
Net income	$ 261,186	$ 162,973	$ 699,537	$ 628,457
Earnings per share:
Basic (in dollars per share)	$ 1.79	$ 1.06	$ 4.71	$ 4.09
Diluted (in dollars per share)	1.78	1.05	4.68	4.06
Cash dividends per share (in dollars per share)	$ 0.1575	$ 0.1500	$ 0.4725	$ 0.4500

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 25, 2022	Sep. 26, 2021	Sep. 25, 2022	Sep. 26, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 261,186	$ 162,973	$ 699,537	$ 628,457
Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustments	(46,245)	(17,836)	(81,387)	(33,759)
Derivative financial instruments	9,031	4,270	31,811	21,298
Pension and postretirement benefit plans	5,503	13,588	16,508	40,763
Other comprehensive (loss) income	(31,711)	22	(33,068)	28,302
Comprehensive income	$ 229,475	$ 162,995	$ 666,469	$ 656,759

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Sep. 25, 2022	Dec. 31, 2021	Sep. 26, 2021
Current assets:
Cash and cash equivalents	$ 1,730,250	$ 1,874,745	$ 2,061,303
Accounts receivable, net	300,454	182,148	282,627
Finance receivables, net of allowance of $61,671, $60,734, and $62,406	1,807,718	1,465,544	1,540,822
Inventories, net	680,762	712,942	475,314
Restricted cash	287,264	128,935	153,873
Other current assets	205,734	185,777	194,481
Total current assets	5,012,182	4,550,091	4,708,420
Finance receivables, net of allowance of $298,425, $278,645, and $293,428	5,534,730	5,106,377	5,322,436
Property, plant and equipment, net	641,651	683,984	671,836
Pension and postretirement assets	424,784	386,152	132,958
Goodwill	60,440	63,177	63,841
Deferred income taxes	69,734	82,922	128,059
Lease assets	40,543	49,625	47,507
Other long-term assets	143,547	128,727	124,747
Assets	11,927,611	11,051,055	11,199,804
Current liabilities:
Accounts payable	438,534	374,978	382,216
Accrued liabilities	710,544	601,981	599,852
Short-term deposits, net	97,856	72,146	92,626
Short-term debt	692,551	751,286	749,620
Current portion of long-term debt, net	1,740,422	1,542,496	1,605,798
Total current liabilities	3,679,907	3,342,887	3,430,112
Long-term deposits, net	246,879	218,180	197,644
Long-term debt, net	4,738,234	4,595,617	4,876,292
Lease liabilities	23,836	29,904	26,017
Pension and postretirement liabilities	92,953	95,299	103,144
Deferred income taxes	8,312	9,261	8,585
Other long-term liabilities	297,280	206,663	224,116
Commitments and contingencies
Shareholders’ equity:
Common stock	1,704	1,694	1,694
Additional paid-in-capital	1,575,632	1,547,011	1,540,235
Retained earnings	2,471,795	1,842,421	1,843,964
Accumulated other comprehensive loss	(273,987)	(240,919)	(455,115)
Treasury stock, at cost	(934,934)	(596,963)	(596,884)
Total shareholders' equity	2,840,210	2,553,244	2,333,894
Total liabilities and shareholders' equity	$ 11,927,611	$ 11,051,055	$ 11,199,804

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 25, 2022	Dec. 31, 2021	Sep. 26, 2021
Allowance for credit loss, current	$ 61,671	$ 60,734	$ 62,406
Allowance for credit loss, noncurrent	298,425	278,645	293,428
Finance receivables, net - current	1,807,718	1,465,544	1,540,822
Other current assets	205,734	185,777	194,481
Finance receivables, net - non-current	5,534,730	5,106,377	5,322,436
Current portion of long-term debt, net	1,740,422	1,542,496	1,605,798
Long-term debt, net	4,738,234	4,595,617	4,876,292
Consolidated VIEs
Finance receivables, net - current	635,628	493,543	531,942
Other current assets	9,582	2,982	2,754
Finance receivables, net - non-current	2,730,915	1,734,428	1,961,367
Restricted cash - current and non-current	205,878	144,284	167,865
Current portion of long-term debt, net	736,332	569,145	629,600
Long-term debt, net	$ 2,158,148	$ 1,330,586	$ 1,565,022

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) $ in Thousands	9 Months Ended
	Sep. 25, 2022 USD ($)	Sep. 26, 2021 USD ($)
Cash flows from operating activities:
Net cash provided by operating activities	$ 574,704	$ 925,551
Cash flows from investing activities:
Capital expenditures	(84,947)	(61,476)
Origination of finance receivables	(3,773,830)	(3,444,953)
Collections on finance receivables	3,110,881	2,968,397
Other investing activities	2,160	2,485
Net cash used by investing activities	(745,736)	(535,547)
Cash flows from financing activities:
Proceeds from issuance of medium-term notes	495,785	0
Repayments of medium-term notes	(950,000)	(1,400,000)
Proceeds from securitization debt	1,826,891	1,169,910
Repayments of securitization debt	(1,054,939)	(1,013,820)
Borrowings of asset-backed commercial paper	448,255	27,406
Repayments of asset-backed commercial paper	(228,431)	(206,671)
Net decrease in unsecured commercial paper	(60,281)	(261,978)
Net increase in deposits	54,080	210,144
Deposits in advance of business combination	100,000	0
Dividends paid	(70,163)	(69,316)
Repurchase of common stock	(338,496)	(11,545)
Other financing activities	(1,237)	4,324
Net cash provided (used) by financing activities	221,464	(1,551,546)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(33,361)	(11,050)
Net increase (decrease) in cash, cash equivalents and restricted cash	17,071	(1,172,592)
Cash, cash equivalents and restricted cash, beginning of period	2,025,219	3,409,168
Net increase (decrease) in cash, cash equivalents and restricted cash	17,071	(1,172,592)
Cash, cash equivalents and restricted cash, end of period	2,042,290	2,236,576
Reconciliation of cash, cash equivalents and restricted cash on the Consolidated balance sheets to the Consolidated statements of cash flows:
Cash and cash equivalents	1,730,250	2,061,303
Restricted cash	287,264	153,873
Restricted cash included in Other long-term assets	24,776	21,400
Cash, cash equivalents and restricted cash per the Consolidated statements of cash flows	$ 2,042,290	$ 2,236,576

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Treasury Stock
Balance, beginning of period at Dec. 31, 2020	$ 1,722,785	$ 1,685	$ 1,507,706	$ 1,284,823	$ (483,417)	$ (588,012)
Beginning balance (in shares) at Dec. 31, 2020		168,503,526
Increase (Decrease) in Stockholders' Equity
Net income	259,144			259,144
Other comprehensive income (loss), net of tax	13,780				13,780
Dividends	(23,105)			(23,105)
Repurchase of common stock	(5,646)					(5,646)
Share-based compensation	9,428	$ 5	9,423
Share-based compensation (in shares)		483,326
Balance, end of period at Mar. 28, 2021	1,976,386	$ 1,690	1,517,129	1,520,862	(469,637)	(593,658)
Ending balance (in shares) at Mar. 28, 2021		168,986,852
Balance, beginning of period at Dec. 31, 2020	1,722,785	$ 1,685	1,507,706	1,284,823	(483,417)	(588,012)
Beginning balance (in shares) at Dec. 31, 2020		168,503,526
Increase (Decrease) in Stockholders' Equity
Net income	628,457
Other comprehensive income (loss), net of tax	28,302				28,302
Balance, end of period at Sep. 26, 2021	2,333,894	$ 1,694	1,540,235	1,843,964	(455,115)	(596,884)
Ending balance (in shares) at Sep. 26, 2021		169,358,698
Balance, beginning of period at Mar. 28, 2021	1,976,386	$ 1,690	1,517,129	1,520,862	(469,637)	(593,658)
Beginning balance (in shares) at Mar. 28, 2021		168,986,852
Increase (Decrease) in Stockholders' Equity
Net income	206,340			206,340
Other comprehensive income (loss), net of tax	14,500				14,500
Dividends	(23,104)			(23,104)
Repurchase of common stock	(5,265)					(5,265)
Share-based compensation	15,415	$ 3	14,327			1,085
Share-based compensation (in shares)		322,015
Balance, end of period at Jun. 27, 2021	2,184,272	$ 1,693	1,531,456	1,704,098	(455,137)	(597,838)
Ending balance (in shares) at Jun. 27, 2021		169,308,867
Increase (Decrease) in Stockholders' Equity
Net income	162,973			162,973
Other comprehensive income (loss), net of tax	22				22
Dividends	(23,107)			(23,107)
Repurchase of common stock	(634)					(634)
Share-based compensation	10,368	$ 1	8,779			1,588
Share-based compensation (in shares)		49,831
Balance, end of period at Sep. 26, 2021	2,333,894	$ 1,694	1,540,235	1,843,964	(455,115)	(596,884)
Ending balance (in shares) at Sep. 26, 2021		169,358,698
Balance, beginning of period at Dec. 31, 2021	2,553,244	$ 1,694	1,547,011	1,842,421	(240,919)	(596,963)
Beginning balance (in shares) at Dec. 31, 2021		169,364,686
Increase (Decrease) in Stockholders' Equity
Net income	222,502			222,502
Other comprehensive income (loss), net of tax	11,309				11,309
Dividends	(24,056)			(24,056)
Repurchase of common stock	(261,737)					(261,737)
Share-based compensation	7,839	$ 10	7,829
Share-based compensation (in shares)		976,062
Balance, end of period at Mar. 27, 2022	2,509,101	$ 1,704	1,554,840	2,040,867	(229,610)	(858,700)
Ending balance (in shares) at Mar. 27, 2022		170,340,748
Balance, beginning of period at Dec. 31, 2021	2,553,244	$ 1,694	1,547,011	1,842,421	(240,919)	(596,963)
Beginning balance (in shares) at Dec. 31, 2021		169,364,686
Increase (Decrease) in Stockholders' Equity
Net income	699,537
Other comprehensive income (loss), net of tax	(33,068)
Balance, end of period at Sep. 25, 2022	2,840,210	$ 1,704	1,575,632	2,471,795	(273,987)	(934,934)
Ending balance (in shares) at Sep. 25, 2022		170,390,852
Balance, beginning of period at Mar. 27, 2022	2,509,101	$ 1,704	1,554,840	2,040,867	(229,610)	(858,700)
Beginning balance (in shares) at Mar. 27, 2022		170,340,748
Increase (Decrease) in Stockholders' Equity
Net income	215,849			215,849
Other comprehensive income (loss), net of tax	(12,666)				(12,666)
Dividends	(23,090)			(23,090)
Repurchase of common stock	(64,091)					(64,091)
Share-based compensation	10,049		9,524			525
Share-based compensation (in shares)		23,479
Balance, end of period at Jun. 26, 2022	2,635,152	$ 1,704	1,564,364	2,233,626	(242,276)	(922,266)
Ending balance (in shares) at Jun. 26, 2022		170,364,227
Increase (Decrease) in Stockholders' Equity
Net income	261,186			261,186
Other comprehensive income (loss), net of tax	(31,711)				(31,711)
Dividends	(23,017)			(23,017)
Repurchase of common stock	(12,668)					(12,668)
Share-based compensation	11,268		11,268			0
Share-based compensation (in shares)		26,625
Balance, end of period at Sep. 25, 2022	$ 2,840,210	$ 1,704	$ 1,575,632	$ 2,471,795	$ (273,987)	$ (934,934)
Ending balance (in shares) at Sep. 25, 2022		170,390,852

CONSOLIDATED STATEMENTS OF SH_2

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Sep. 25, 2022	Jun. 26, 2022	Mar. 27, 2022	Sep. 26, 2021	Jun. 27, 2021	Mar. 28, 2021
Statement of Stockholders' Equity [Abstract]
Dividends (in dollars per share)	$ 0.1575	$ 0.1575	$ 0.1575	$ 0.1500	$ 0.1500	$ 0.1500

Basis of Presentation and Use o

Basis of Presentation and Use of Estimates	9 Months Ended
	Sep. 25, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Use of Estimates	Basis of Presentation and Use of Estimates Principles of Consolidation and Basis of Presentation – The consolidated financial statements include the accounts of Harley-Davidson, Inc. and its subsidiaries, all of which are wholly-owned (the Company), including the accounts of the groups of companies referred to as Harley-Davidson Motor Company and Harley-Davidson Financial Services. In addition, certain variable interest entities (VIEs) related to secured financing are consolidated as the Company is the primary beneficiary. All intercompany accounts and material intercompany transactions have been eliminated. The Company operates in two reportable segments: Motorcycles and Related Products (Motorcycles) and Financial Services. In the opinion of the Company's management, the accompanying unaudited consolidated financial statements contain all adjustments, consisting only of normal recurring adjustments, necessary to present fairly the Consolidated balance sheets as of September 25, 2022 and September 26, 2021, the Consolidated statements of operations for the three and nine month periods then ended, the Consolidated statements of comprehensive income for the three and nine month periods then ended, the Consolidated statements of cash flows for the nine month periods then ended, and the Consolidated statements of shareholders' equity for the three month periods within the nine month periods ended September 25, 2022 and September 26, 2021. Certain information and disclosures normally included in complete financial statements have been condensed or omitted pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (SEC) and U.S. generally accepted accounting principles (U.S. GAAP) for interim financial reporting. The consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. Use of Estimates – The preparation of financial statements in conformity with U.S. GAAP requires the Company's management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and the accompanying notes. Actual results could differ from those estimates.

New Accounting Standards

New Accounting Standards	9 Months Ended
	Sep. 25, 2022
Accounting Policies [Abstract]
New Accounting Standards	New Accounting StandardsAccounting Standards Not Yet AdoptedIn March 2022, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2022-02, Financial Instruments-Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures (ASU 2022-02). ASU 2022-02 addresses areas identified by the FASB as part of its post-implementation review of its previously issued credit losses standard (ASU 2016-13) that introduced the current expected credit losses (CECL) model. ASU 2022-02 eliminates the accounting guidance for troubled debt restructurings by creditors that have adopted the CECL model and enhances disclosure requirements for certain loan refinancings and restructurings made with borrowers experiencing financial difficulty. In addition, ASU 2022-02 requires a public business entity to disclose current-period gross write-offs for financing receivables and net investment in leases by year of origination in the vintage disclosures. As the Company has already adopted ASU 2016-13, the new guidance is effective for the fiscal years beginning after December 15, 2022 and for interim periods within those fiscal years. Early adoption is permitted. The adoption of ASU 2022-02 is not expected to have a material impact on the Company's consolidated financial statements.

Revenue

Revenue	9 Months Ended
	Sep. 25, 2022
Revenue from Contract with Customer [Abstract]
Revenue	RevenueThe 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 25, September 26, September 25, September 26, Motorcycles and Related Products Revenue: Motorcycles $ 1,133,558 $ 885,626 $ 3,132,717 $ 2,931,669 Parts and accessories 201,003 204,506 581,068 577,035 Apparel 69,834 49,424 198,568 155,378 Licensing 10,662 8,481 28,940 22,865 Other 21,905 12,581 65,311 37,278 1,436,962 1,160,618 4,006,604 3,724,225 Financial Services Revenue: Interest income 179,261 174,103 509,702 501,645 Other 32,352 30,589 96,542 94,005 211,613 204,692 606,244 595,650 $ 1,648,575 $ 1,365,310 $ 4,612,848 $ 4,319,875 The Company maintains certain deferred revenue balances related to payments received at contract inception in advance of the Company’s performance under the contract and generally relates to the sale of Harley Owners Group® memberships and various financial services products. Deferred revenue is recognized as revenue as the Company performs under the contract. Deferred revenue, included in Accrued liabilities and Other long-term liabilities on the Consolidated balance sheets , was as follows (in thousands): September 25, September 26, Balance, beginning of period $ 40,092 $ 36,614 Balance, end of period $ 45,746 $ 38,682

Restructuring Activities

Restructuring Activities	9 Months Ended
	Sep. 25, 2022
Restructuring and Related Activities [Abstract]
Restructuring Activities	Restructuring Activities The Company's restructuring activities are included in Restructuring expense (benefit) on the Consolidated statements of operations . In 2020, the Company initiated restructuring activities including a workforce reduction, the termination of certain current and future products, facility changes, optimizing its global dealer network, exiting certain international markets, and discontinuing its sales and manufacturing operations in India. The workforce reduction resulted in the termination of approximately 500 employees. In addition, the India action resulted in the termination of approximately 70 employees. These restructuring activities are essentially complete, and the Company does not expect restructuring expenses of any significance in 2022. Since the inception of the restructuring activities in 2020 through the nine months ended September 25, 2022, the Company has incurred cumulative restructuring expenses of $133.0 million, including $121.5 million and $11.5 million in the Motorcycles and Financial Services segments, respectively. This includes restructuring expense (benefit) for the three and nine month periods ended September 25, 2022 and September 26, 2021 by segment as follows (in thousands): Three months ended Nine months ended September 25, September 26, September 25, September 26, Motorcycles and Related Products $ 3 $ 517 $ (389) $ 731 Financial Services — 98 — 436 $ 3 $ 615 $ (389) $ 1,167 Changes in accrued restructuring expenses, which are included in Accrued liabilities on the Consolidated balance sheets, were as follows (in thousands): Three months ended September 25, 2022 Employee Termination Benefits Contract Terminations Non-Current Asset Adjustments Total Balance, beginning of period $ 79 $ 744 $ — $ 823 Restructuring expense — 3 — 3 Utilized – cash (19) (221) — (240) Utilized – non cash — — — — Foreign currency changes (4) (5) — (9) Balance, end of period $ 56 $ 521 $ — $ 577 Three months ended September 26, 2021 Employee Termination Benefits Contract Terminations Non-Current Asset Adjustments Total Balance, beginning of period $ 1,246 $ 2,084 $ — $ 3,330 Restructuring (benefit) expense (165) 807 (27) 615 Utilized – cash (397) (1,197) — (1,594) Utilized – non cash — — 27 27 Foreign currency changes (7) (21) — (28) Balance, end of period $ 677 $ 1,673 $ — $ 2,350 Nine months ended September 25, 2022 Employee Termination Benefits Contract Terminations Non-Current Asset Adjustments Total Balance, beginning of period $ 121 $ 2,874 $ — $ 2,995 Restructuring benefit — (389) — (389) Utilized – cash (55) (1,949) — (2,004) Utilized – non cash — — — — Foreign currency changes (10) (15) — (25) Balance, end of period $ 56 $ 521 $ — $ 577 Nine months ended September 26, 2021 Employee Termination Benefits Contract Terminations Non-Current Asset Adjustments Total Balance, beginning of period $ 7,724 $ 16,196 $ — $ 23,920 Restructuring (benefit) expense (1,131) 2,576 (278) 1,167 Utilized – cash (5,743) (16,987) — (22,730) Utilized – non cash — — 278 278 Foreign currency changes (173) (112) — (285) Balance, end of period $ 677 $ 1,673 $ — $ 2,350

Income Taxes

Income Taxes	9 Months Ended
	Sep. 25, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesThe Company’s effective income tax rate for the nine months ended September 25, 2022 was 23.0% compared to 22.8% for the nine months ended September 26, 2021.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 25, 2022
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The computation of basic and diluted earnings per share was as follows (in thousands, except per share amounts): Three months ended Nine months ended September 25, September 26, September 25, September 26, Net income $ 261,186 $ 162,973 $ 699,537 $ 628,457 Basic weighted-average shares outstanding 146,217 153,863 148,673 153,700 Effect of dilutive securities – employee stock compensation plan 856 1,254 862 1,203 Diluted weighted-average shares outstanding 147,073 155,117 149,535 154,903 Net earnings per share: Basic $ 1.79 $ 1.06 $ 4.71 $ 4.09 Diluted $ 1.78 $ 1.05 $ 4.68 $ 4.06 Shares of common stock related to share-based compensation that were not included in the effect of dilutive securities because the effect would have been anti-dilutive include 3.9 million and 0.5 million shares for the three months ended September 25, 2022 and September 26, 2021, respectively, and 2.3 million and 0.5 million shares for the nine months ended September 25, 2022 and September 26, 2021, respectively.

Additional Balance Sheet and Ca

Additional Balance Sheet and Cash Flow Information	9 Months Ended
	Sep. 25, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Additional Balance Sheet and Cash Flow Information	Additional Balance Sheet and Cash Flow Information Investments in Marketable Securities – The Company’s investments in marketable securities consisted of the following (in thousands): September 25, December 31, September 26, Mutual funds $ 33,631 $ 49,650 $ 48,766 Mutual funds, included in Other long-term assets on the Consolidated balance sheets , are carried at fair value with gains and losses recorded in income. Mutual funds are held to support certain deferred compensation obligations. Inventories, net – Substantially all inventories located in the U.S. are valued using the last-in, first-out (LIFO) method. Other inventories are valued at the lower of cost or net realizable value using the first-in, first-out (FIFO) method. Motorcycle finished goods inventories include motorcycles that are ready for sale and motorcycles that are substantially complete but awaiting installation of certain components affected by global supply chain constraints. Inventories, net consisted of the following (in thousands): September 25, December 31, September 26, Raw materials and work in process $ 311,424 $ 347,915 $ 279,699 Motorcycle finished goods 304,195 345,956 178,315 Parts and accessories and apparel 160,724 103,191 86,977 Inventory at lower of FIFO cost or net realizable value 776,343 797,062 544,991 Excess of FIFO over LIFO cost (95,581) (84,120) (69,677) $ 680,762 $ 712,942 $ 475,314 Restricted cash – During the quarter ended September 25, 2022, the Company received a $100 million cash deposit from an independent strategic investor, Kwang Yang Motor Co., Ltd. (KYMCO), in advance of the pending LiveWire transaction, discussed further in Note 20. Restricted cash recorded in connection with asset-backed financing is discussed further in Note 12. Deposits – Harley-Davidson Financial Services offers brokered certificates of deposit to customers indirectly through contractual arrangements with third-party banks and/or securities brokerage firms through its bank subsidiary. The Company had $344.7 million, $290.3 million and $290.3 million , net of fees, of interest-bearing brokered certificates of deposit outstanding as of September 25, 2022, December 31, 2021, and September 26, 2021, respectively. The liabilities for deposits are included in Short-term deposits, net or Long-term deposits, net on the Consolidated balance sheets based upon the term of each brokered certificate of deposit issued. Each separate brokered certificate of deposit is issued under a master certificate, and as such, all outstanding brokered certificates of deposit are considered below the Federal Deposit Insurance Corporation insurance coverage limits. Future maturities of the Company's certificates of deposit as of September 25, 2022 were as follows (in thousands): 2022 $ 27,475 2023 80,106 2024 80,378 2025 24,006 2026 79,742 Thereafter 54,158 Future maturities 345,865 Unamortized fees (1,130) $ 344,735 Operating Cash Flow – The reconciliation of Net income to Net cash provided by operating activities was as follows (in thousands): Nine months ended September 25, September 26, Cash flows from operating activities: Net income $ 699,537 $ 628,457 Adjustments to reconcile Net income to Net cash provided by operating activities: Depreciation and amortization 114,867 122,483 Amortization of deferred loan origination costs 72,214 63,265 Amortization of financing origination fees 11,475 10,426 Provision for long-term employee benefits (14,637) 19,640 Employee benefit plan contributions and payments (4,766) (14,677) Stock compensation expense 33,595 34,032 Net change in wholesale finance receivables related to sales (294,698) (22,031) Provision for credit losses 94,572 4,935 Deferred income taxes (2,980) 10,626 Other, net 24,392 2,094 Changes in current assets and liabilities: Accounts receivable, net (150,726) (148,670) Finance receivables – accrued interest and other 3,566 11,088 Inventories, net (6,577) 31,874 Accounts payable and accrued liabilities 37,745 168,306 Other current assets (42,875) 3,703 (124,833) 297,094 Net cash provided by operating activities $ 574,704 $ 925,551

Finance Receivables

Finance Receivables	9 Months Ended
	Sep. 25, 2022
Receivables [Abstract]
Finance Receivables	Finance Receivables The Company provides retail financial services to customers of its dealers in the U.S. and Canada. The origination of retail loans is a separate and distinct transaction between the Company and the retail customer, unrelated to the Company’s sale of product to its dealers. Retail finance receivables consist of secured promissory notes and secured installment sales contracts and are primarily related to dealer sales of motorcycles to retail customers. The Company holds either titles or liens on titles to vehicles financed by promissory notes and installment sales contracts. The Company offers wholesale financing to its dealers in the U.S. and Canada. Wholesale finance receivables are related primarily to the Company's sale of motorcycles and related parts and accessories to dealers. Wholesale loans to dealers are generally secured by financed inventory or property. Finance receivables, net were as follows (in thousands): September 25, December 31, September 26, Retail finance receivables $ 6,945,649 $ 6,493,519 $ 6,727,956 Wholesale finance receivables 756,895 417,781 491,136 7,702,544 6,911,300 7,219,092 Allowance for credit losses (360,096) (339,379) (355,834) $ 7,342,448 $ 6,571,921 $ 6,863,258 The Company’s finance receivables are reported at amortized cost, net of the allowance for credit losses. Amortized cost includes the principal outstanding, accrued interest, and deferred loan fees and costs. The Company's allowance for credit losses reflects expected lifetime credit losses on its finance receivables. Based on differences in the nature of the finance receivables and the underlying methodology for calculating the allowance for credit losses, the Company segments its finance receivables into the retail and wholesale portfolios. The Company further disaggregates each portfolio by credit quality indicators. As the credit risk varies between the retail and wholesale portfolios, the Company utilizes different credit quality indicators for each portfolio. The retail portfolio primarily consists of a large number of small balance, homogeneous finance receivables. The Company performs a collective evaluation of the adequacy of the retail allowance for credit losses. The Company utilizes a vintage-based loss forecast methodology that includes decompositions for probability of default, exposure at default, attrition rate, and recovery balance rate. Reasonable and supportable economic forecasts for a two-year period are incorporated into the methodology to reflect the estimated impact of changes in future economic conditions, such as unemployment rates, household obligations or other relevant factors, over the two-year reasonable and supportable period. For periods beyond the Company’s reasonable and supportable forecasts, the Company reverts to its average historical loss experience using a mean-reversion process over a three-year period. Adjustments to historical loss information are made for differences in current loan-specific risk characteristics such as differences in underwriting standards, portfolio mix, or term as well as other relevant factors. The wholesale portfolio is primarily composed of large balance, non-homogeneous loans. The Company’s evaluation for the wholesale allowance for credit losses is first based on a loan-by-loan review to determine whether the loans share similar risk characteristics. The Company individually evaluates loans that do not share risk characteristics. Loans identified as those for which foreclosure is probable are classified as Non-Performing, and a specific allowance for credit losses is established when appropriate. The specific allowance is determined based on the amortized cost of the related finance receivable and the estimated fair value of the collateral, less selling costs and the cash that the Company expects to receive. Finance receivables in the wholesale portfolio not individually assessed are aggregated, based on similar risk characteristics, according to the Company’s internal risk rating system and measured collectively. The related allowance for credit losses is based on factors such as the specific borrower’s financial performance and ability to repay, the Company’s past credit loss experience, reasonable and supportable economic forecasts, and the value of the underlying collateral and expected recoveries. The Company considers various third-party economic forecast scenarios as part of estimating the allowance for expected credit losses and applies a probability-weighting to those economic forecast scenarios. Each quarter, the Company’s outlook on economic conditions impacts the Company's retail and wholesale estimates for expected credit losses. During the third quarter of 2022, economic recovery slowed and the ongoing pace of economic recovery remained uncertain as the magnitude of inflation continued to challenge the U.S. and global economies, near-term recession concerns have not abated, muted consumer confidence persisted, the conflict in Ukraine was wide-reaching with resolution uncertain, and global supply chain issues continued, among other factors. As such, at the end of the third quarter of 2022, the Company’s outlook on economic conditions and its probability weighting of its economic forecast scenarios included continued slow economic improvement in certain factors, such as unemployment, with a high probability of a near-term recession. Additionally, the historical experience incorporated into the portfolio-specific models does not fully reflect the Company's comprehensive expectations regarding the future. As such, the Company incorporated qualitative factors to establish an appropriate allowance for credit losses balance. These factors include motorcycle recovery value considerations, delinquency adjustments, specific problem loan trends, and changes in other portfolio-specific loan characteristics. Due to the use of projections and assumptions in estimating the losses, the amount of losses actually incurred by the Company in either portfolio could differ from the amounts estimated. Further, the Company’s allowance for credit losses incorporates known conditions at the balance sheet date and the Company’s expectations surrounding the economic forecasts. The Company will continue to monitor future economic trends and conditions. Expectations surrounding the Company's economic forecasts may change in future periods as additional information becomes available. Changes in the Company's allowance for credit losses on its finance receivables by portfolio were as follows (in thousands): Three months ended September 25, 2022 Nine months ended September 25, 2022 Retail Wholesale Total Retail Wholesale Total Balance, beginning of period $ 342,691 $ 9,446 $ 352,137 $ 326,320 $ 13,059 $ 339,379 Provision for credit losses 34,697 1,920 36,617 96,265 (1,693) 94,572 Charge-offs (40,283) — (40,283) (114,145) — (114,145) Recoveries 11,625 — 11,625 40,290 — 40,290 Balance, end of period $ 348,730 $ 11,366 $ 360,096 $ 348,730 $ 11,366 $ 360,096 Three months ended September 26, 2021 Nine months ended September 26, 2021 Retail Wholesale Total Retail Wholesale Total Balance, beginning of period $ 342,490 $ 16,321 $ 358,811 $ 371,738 $ 19,198 $ 390,936 Provision for credit losses 13,861 (2,653) 11,208 10,465 (5,530) 4,935 Charge-offs (24,670) — (24,670) (76,366) — (76,366) Recoveries 10,335 150 10,485 36,179 150 36,329 Balance, end of period $ 342,016 $ 13,818 $ 355,834 $ 342,016 $ 13,818 $ 355,834 The Company manages retail credit risk through its credit approval process and ongoing collection efforts. The Company uses FICO scores, a standard credit rating measurement, to differentiate the expected default rates of retail credit applicants, enabling the Company to better evaluate credit applicants for approval and to tailor pricing according to this assessment. For the Company’s U.S. and Canadian retail finance receivables, the Company determines the credit quality indicator for each loan at origination and does not update the credit quality indicator subsequent to the loan origination date. As loan performance by credit quality indicator differs between the U.S. and Canadian retail loans, the Company’s credit quality indicators vary for the two portfolios. For U.S. retail finance receivables, those with a FICO score of 740 or above at origination are generally considered super prime, loans with a FICO score between 640 and 740 are generally categorized as prime, and loans with FICO score below 640 are generally considered sub-prime. For Canadian retail finance receivables, those with a FICO score of 700 or above at origination are generally considered super prime, loans with a FICO score between 620 and 700 are generally categorized as prime, and loans with FICO score below 620 are generally considered sub-prime. The amortized cost of the Company's U.S. and Canadian retail finance receivables by vintage and credit quality indicator was as follows (in thousands): September 25, 2022 2022 2021 2020 2019 2018 2017 & Prior Total U.S. Retail: Super prime $ 1,002,057 $ 684,597 $ 312,641 $ 187,399 $ 87,508 $ 36,424 $ 2,310,626 Prime 1,281,483 982,085 476,677 297,481 160,552 102,887 3,301,165 Sub-prime 389,674 334,611 185,874 122,231 67,147 58,364 1,157,901 2,673,214 2,001,293 975,192 607,111 315,207 197,675 6,769,692 Canadian Retail: Super prime 46,930 33,149 19,727 14,500 6,365 2,085 122,756 Prime 15,043 11,537 8,149 5,738 3,562 2,345 46,374 Sub-prime 1,984 1,552 1,321 991 582 397 6,827 63,957 46,238 29,197 21,229 10,509 4,827 175,957 $ 2,737,171 $ 2,047,531 $ 1,004,389 $ 628,340 $ 325,716 $ 202,502 $ 6,945,649 December 31, 2021 2021 2020 2019 2018 2017 2016 & Prior Total U.S. Retail: Super prime $ 1,010,636 $ 484,479 $ 316,390 $ 171,763 $ 65,753 $ 27,424 $ 2,076,445 Prime 1,391,385 712,858 470,177 277,206 142,288 82,169 3,076,083 Sub-prime 476,688 273,787 182,002 105,330 61,923 51,035 1,150,765 2,878,709 1,471,124 968,569 554,299 269,964 160,628 6,303,293 Canadian Retail: Super prime 51,779 32,724 27,073 13,984 4,619 1,614 131,793 Prime 16,882 12,675 9,244 6,230 3,628 1,779 50,438 Sub-prime 2,356 2,134 1,571 947 606 381 7,995 71,017 47,533 37,888 21,161 8,853 3,774 190,226 $ 2,949,726 $ 1,518,657 $ 1,006,457 $ 575,460 $ 278,817 $ 164,402 $ 6,493,519 September 26, 2021 2021 2020 2019 2018 2017 2016 & Prior Total U.S. Retail: Super prime $ 896,163 $ 551,078 $ 367,490 $ 206,333 $ 83,674 $ 38,494 $ 2,143,232 Prime 1,228,335 805,349 538,440 323,554 171,308 107,715 3,174,701 Sub-prime 428,238 312,163 207,139 119,730 72,026 64,890 1,204,186 2,552,736 1,668,590 1,113,069 649,617 327,008 211,099 6,522,119 Canadian Retail: Super prime 50,110 36,596 31,173 16,701 6,265 2,239 143,084 Prime 16,166 13,904 10,336 7,026 4,228 2,350 54,010 Sub-prime 2,345 2,436 1,694 1,090 704 474 8,743 68,621 52,936 43,203 24,817 11,197 5,063 205,837 $ 2,621,357 $ 1,721,526 $ 1,156,272 $ 674,434 $ 338,205 $ 216,162 $ 6,727,956 The Company's credit risk on the wholesale portfolio is different from that of the retail portfolio. Whereas the retail portfolio represents a relatively homogeneous pool of retail finance receivables that exhibit more consistent loss patterns, the wholesale portfolio exposures are less consistent. The Company utilizes an internal credit risk rating system to manage credit risk exposure consistently across wholesale borrowers and individually evaluates credit risk factors for each borrower. The Company uses the following internal credit quality indicators, based on an internal risk rating system, listed from highest level of risk to lowest level of risk for the wholesale portfolio: Doubtful, Substandard, Special Mention, Medium Risk and Low Risk. Based upon the Company’s review, the dealers classified in the Doubtful category are the dealers with the greatest likelihood of being charged-off, while the dealers classified as Low Risk are least likely to be charged-off. Additionally, the Company classifies dealers identified as those in which foreclosure is probable as Non-Performing. The internal rating system considers factors such as the specific borrower's ability to repay and the estimated value of any collateral. Dealer risk rating classifications are reviewed and updated by the Company on a quarterly basis. The amortized cost of the Company's wholesale financial receivables, by vintage and credit quality indicator, was as follows (in thousands): September 25, 2022 2022 2021 2020 2019 2018 2017 & Prior Total Non-Performing $ — $ — $ — $ — $ — $ — $ — Doubtful — — — — — — — Substandard — — — — — — — Special Mention — — — — — — — Medium Risk — — — — — — — Low Risk 714,122 22,850 7,169 3,749 8,607 398 756,895 $ 714,122 $ 22,850 $ 7,169 $ 3,749 $ 8,607 $ 398 $ 756,895 December 31, 2021 2021 2020 2019 2018 2017 2016 & Prior Total Non-Performing $ — $ — $ — $ — $ — $ — $ — Doubtful — — — — — — — Substandard — — — — — — — Special Mention — — — — — — — Medium Risk — — — — — — — Low Risk 380,211 11,379 11,047 10,565 3,662 917 417,781 $ 380,211 $ 11,379 $ 11,047 $ 10,565 $ 3,662 $ 917 $ 417,781 September 26, 2021 2021 2020 2019 2018 2017 2016 & Prior Total Non-Performing $ — $ — $ — $ — $ — $ — $ — Doubtful — — — — — — — Substandard — — — — — — — Special Mention — — — — — — — Medium Risk — — — — — — — Low Risk 432,088 19,082 22,821 11,218 4,222 1,705 491,136 $ 432,088 $ 19,082 $ 22,821 $ 11,218 $ 4,222 $ 1,705 $ 491,136 Retail finance receivables are contractually delinquent if the minimum payment is not received by the specified due date. Retail finance receivables at amortized cost, excluding accrued interest, are generally charged-off when the receivable is 120 days or more delinquent, the related asset is repossessed, or the receivable is otherwise deemed uncollectible. The Company reverses accrued interest related to charged-off accounts against Financial Services interest income when the account is charged-off. The Company reversed $3.9 million and $3.1 million of accrued interest against Financial Services interest income during the three months ended September 25, 2022 and September 26, 2021, respectively, and $13.0 million and $11.6 million during the nine months ended September 25, 2022 and September 26, 2021, respectively. All retail finance receivables accrue interest until either collected or charged-off. Due to the timely write-off of accrued interest, the Company made the election provided under Accounting Standards Codification (ASC) Topic 326, Financial Instruments - Credit Losses to exclude accrued interest from its allowance for credit losses. Accordingly, as of September 25, 2022, December 31, 2021 and September 26, 2021, all retail finance receivables were accounted for as interest-earning receivables. Wholesale finance receivables are delinquent if the minimum payment is not received by the contractual due date. Wholesale finance receivables are written down once the Company determines that the specific borrower does not have the ability to repay the loan in full. Interest continues to accrue on past due finance receivables until the date the Company determines that foreclosure is probable, and the finance receivable is placed on non-accrual status. The Company will resume accruing interest on these accounts when payments are current according to the terms of the loans and future payments are reasonably assured. While on non-accrual status, all cash received is applied to principal or interest as appropriate. Once an account is charged-off, the Company will reverse the associated accrued interest against interest income. As the Company follows a non-accrual policy for interest, the allowance for credit losses excludes accrued interest for the wholesale portfolio. There were no charged-off accounts during the three and nine months ended September 25, 2022 and September 26, 2021. As such, the Company did not reverse any accrued interest in those periods. There were no dealers on non-accrual status at September 25, 2022, December 31, 2021, and September 26, 2021. The aging analysis of the Company's finance receivables was as follows (in thousands): September 25, 2022 Current 31-60 Days 61-90 Days Greater than Total Total Retail finance receivables $ 6,714,095 $ 136,957 $ 49,260 $ 45,337 $ 231,554 $ 6,945,649 Wholesale finance receivables 756,609 271 15 — 286 756,895 $ 7,470,704 $ 137,228 $ 49,275 $ 45,337 $ 231,840 $ 7,702,544 December 31, 2021 Current 31-60 Days 61-90 Days Greater than Total Total Retail finance receivables $ 6,298,485 $ 115,942 $ 44,326 $ 34,766 $ 195,034 $ 6,493,519 Wholesale finance receivables 417,720 9 1 51 61 417,781 $ 6,716,205 $ 115,951 $ 44,327 $ 34,817 $ 195,095 $ 6,911,300 September 26, 2021 Current 31-60 Days 61-90 Days Greater than Total Total Retail finance receivables $ 6,561,412 $ 101,157 $ 35,273 $ 30,114 $ 166,544 $ 6,727,956 Wholesale finance receivables 490,974 46 92 24 162 491,136 $ 7,052,386 $ 101,203 $ 35,365 $ 30,138 $ 166,706 $ 7,219,092 Generally, it is the Company’s policy not to change the terms and conditions of finance receivables. However, to minimize economic loss, the Company may modify certain finance receivables in troubled debt restructurings. Total finance receivables in troubled debt restructurings were not significant as of September 25, 2022, December 31, 2021 and September 26, 2021. Additionally, in certain situations, the Company may offer short-term adjustments to customer payment due dates without affecting the associated interest rate or loan term. From the second quarter of 2020 through the end of the second quarter of 2021, in response to the impact of the COVID-19 pandemic, the Company granted an increased amount of short-term payment due date extensions on eligible retail loans to help retail customers get through financial difficulties associated with the COVID-19 pandemic. The Company continues to grant standard payment extensions to customers in accordance with its policies.

Derivative Financial Instrument

Derivative Financial Instruments and Hedging Activities	9 Months Ended
	Sep. 25, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments and Hedging Activities	Derivative Financial Instruments and Hedging ActivitiesThe Company is exposed to risks from fluctuations in foreign currency exchange rates, interest rates and commodity prices. To reduce its exposure to such risks, the Company selectively uses derivative financial instruments. All derivative transactions are authorized and executed pursuant to regularly reviewed policies and procedures which prohibit the use of financial instruments for speculative trading purposes. The Company sells products in foreign currencies and utilizes foreign currency exchange contracts to mitigate the effects of foreign currency exchange rate fluctuations related to the Euro, Australian dollar, Japanese yen, Brazilian real, Canadian dollar, Mexican peso, Chinese yuan, Singapore dollar, Thai baht, and Pound sterling. The Company's foreign currency exchange contracts generally have maturities of less than one year. The Company utilizes commodity contracts to mitigate the effects of commodity price fluctuations related to metals and fuel consumed in its motorcycle operations. The Company's commodity contracts generally have maturities of less than one year. The Company periodically utilizes treasury rate lock contracts to fix the interest rate on a portion of the principal related to an anticipated issuance of long-term debt and cross-currency swaps to mitigate the effect of foreign currency exchange rate fluctuations on its foreign currency-denominated debt. The Company also utilizes interest rate caps to facilitate certain asset-backed securitization transactions. All derivative financial instruments are recognized on the Consolidated balance sheets at fair value. In accordance with ASC Topic 815, Derivatives and Hedging (ASC Topic 815), the accounting for changes in the fair value of a derivative financial instrument depends on whether it has been designated and qualifies as part of a hedging relationship and, further, on the type of hedging relationship. Changes in the fair value of derivative financial instruments that are designated as cash flow hedges are initially recorded in Other comprehensive (loss) income (OCI) and subsequently reclassified into income when the hedged item affects income. The Company assesses, both at the inception of each hedge and on an ongoing basis, whether the derivative financial instruments that are designated as cash flow hedging transactions are highly effective in offsetting changes in cash flows of the hedged items. No component of a designated hedging derivative financial instrument’s gain or loss is excluded from the assessment of hedge effectiveness. Derivative financial instruments not designated as hedges are not speculative and are used to manage the Company’s exposure to foreign currency, commodity risks, and interest rate risks. Changes in the fair value of derivative financial instruments not designated as hedging instruments are recorded directly in income. Cash flow activity associated with the Company's derivative financial instruments is recorded in Cash flows from operating activities on the Consolidated statement of cash flow. The notional and fair values of the Company's derivative financial instruments under ASC Topic 815 were as follows (in thousands): Derivative Financial Instruments September 25, 2022 December 31, 2021 September 26, 2021 Notional Assets (a) Liabilities (b) Notional Assets (a) Liabilities (b) Notional Assets (a) Liabilities (b) Foreign currency contracts $ 459,252 $ 29,975 $ 331 $ 562,262 $ 14,644 $ 1,388 $ 406,220 $ 10,174 $ 502 Commodity contracts 1,724 169 — 996 19 39 1,000 458 — Cross-currency swaps 1,367,460 — 149,479 1,367,460 35,071 — 1,367,460 47,989 — $ 1,828,436 $ 30,144 $ 149,810 $ 1,930,718 $ 49,734 $ 1,427 $ 1,774,680 $ 58,621 $ 502 Derivative Financial Instruments September 25, 2022 December 31, 2021 September 26, 2021 Notional Assets (a) Liabilities (b) Notional Assets (a) Liabilities (b) Notional Assets (a) Liabilities (b) Foreign currency contracts $ — $ — $ — $ 241,935 $ 1,299 $ 916 $ 135,381 $ 375 $ 162 Commodity contracts 8,197 27 919 10,631 641 18 9,920 739 30 Interest rate caps 1,183,178 3,857 — 504,526 360 — 608,222 112 — $ 1,191,375 $ 3,884 $ 919 $ 757,092 $ 2,300 $ 934 $ 753,523 $ 1,226 $ 192 (a) Includes $3.9 million of interest rate caps recorded in Other long-term assets as of September 25, 2022 with all remaining amounts recorded in Other current assets. (b) Includes $82.7 million of cross-currency swaps recorded in Other long-term liabilities as of September 25, 2022 with all remaining amounts recorded in Accrued liabilities . The amounts of gains and losses related to the Company's derivative financial instruments designated as cash flow hedges were as follows (in thousands): Gain/(Loss) Gain/(Loss) Three months ended Nine months ended Three months ended Nine months ended September 25, September 26, September 25, September 26, September 25, September 26, September 25, September 26, Foreign currency contracts $ 26,657 $ 8,653 $ 54,429 $ 20,829 $ 15,202 $ (3,504) $ 30,484 $ (16,051) Commodity contracts 88 390 816 546 147 65 627 36 Cross-currency swaps (94,912) (40,741) (184,551) (90,633) (95,111) (33,600) (201,377) (77,775) Treasury rate lock contracts — — — — (90) (127) (335) (375) Interest rate swaps — — — 397 — — — (2,689) $ (68,167) $ (31,698) $ (129,306) $ (68,861) $ (79,852) $ (37,166) $ (170,601) $ (96,854) The location and amount of gains and losses recognized in income related to the Company's derivative financial instruments designated as cash flow hedges were as follows (in thousands): Motorcycles Selling, administrative & Interest expense Financial Services interest expense Three months ended September 25, 2022 Line item on the Consolidated statements of operations in which the effects of cash flow hedges are recorded $ 946,656 $ 265,841 $ 8,124 $ 60,740 Gain/(loss) reclassified from AOCL into income: Foreign currency contracts $ 15,202 $ — $ — $ — Commodity contracts $ 147 $ — $ — $ — Cross-currency swaps $ — $ (95,111) $ — $ — Treasury rate lock contracts $ — $ — $ (90) $ — Three months ended September 26, 2021 Line item on the Consolidated statements of operations in which the effects of cash flow hedges are recorded $ 850,193 $ 254,312 $ 7,779 $ 44,770 Gain/(loss) reclassified from AOCL into income: Foreign currency contracts $ (3,504) $ — $ — $ — Commodity contracts $ 65 $ — $ — $ — Cross-currency swaps $ — $ (33,600) $ — $ — Treasury rate lock contracts $ — $ — $ (91) $ (36) Motorcycles Selling, administrative & Interest expense Financial Services interest expense Nine months ended September 25, 2022 Line item on the Consolidated statements of operations in which the effects of cash flow hedges are recorded $ 2,721,913 $ 740,699 $ 23,555 $ 150,488 Gain/(loss) reclassified from AOCL into income: Foreign currency contracts $ 30,484 $ — $ — $ — Commodity contracts $ 627 $ — $ — $ — Cross-currency swaps $ — $ (201,377) $ — $ — Treasury rate lock contracts $ — $ — $ (272) $ (63) Nine months ended September 26, 2021 Line item on the Consolidated statements of operations in which the effects of cash flow hedges are recorded $ 2,586,264 $ 747,665 $ 23,209 $ 149,098 Gain/(loss) reclassified from AOCL into income: Foreign currency contracts $ (16,051) $ — $ — $ — Commodity contracts $ 36 $ — $ — $ — Cross-currency swaps $ — $ (77,775) $ — $ — Treasury rate lock contracts $ — $ — $ (272) $ (103) Interest rate swaps $ — $ — $ — $ (2,689) The amount of net gain included in Accumulated other comprehensive loss (AOCL) at September 25, 2022, estimated to be reclassified into income over the next 12 months was $1.8 million. The amount of gains and losses recognized in income related to derivative financial instruments not designated as hedging instruments were as follows (in thousands). Gains and losses on foreign currency contracts and commodity contracts were recorded in Motorcycles cost of goods sold . Gains and losses on interest rate caps were recorded in Selling, administrative & engineering expense. Amount of Gain/(Loss) Three months ended Nine months ended September 25, September 26, September 25, September 26, Foreign currency contracts $ 3,061 $ 2,152 $ 9,348 $ (3,396) Commodity contracts (760) 102 472 1,528 Interest rate caps 1,997 (39) 2,015 65 $ 4,298 $ 2,215 $ 11,835 $ (1,803) The Company is exposed to credit loss risk in the event of non-performance by counterparties to its derivative financial instruments. Although no assurances can be given, the Company does not expect any of the counterparties to its derivative financial instruments to fail to meet their obligations. To manage credit loss risk, the Company evaluates counterparties based on credit ratings and, on a quarterly basis, evaluates each hedge’s net position relative to the counterparty’s ability to cover their position.

Leases

Leases	9 Months Ended
	Sep. 25, 2022
Leases [Abstract]
Leases	Leases The Company determines if an arrangement is or contains a lease at contract inception. Right-of-use (ROU) assets related to the Company's leases are recorded in Lease assets and lease liabilities are recorded in Accrued liabilities and Lease liabilities on the Consolidated balance sheets . ROU assets represent the Company’s right to use an underlying asset over the lease term, and lease liabilities represent the Company's obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at the lease commencement date based on the present value of future lease payments over the lease term. The ROU asset also includes prepaid lease payments and initial direct costs and is reduced for lease incentives paid by the lessor. The discount rate used to determine the present value is generally the Company's incremental borrowing rate because the implicit rate in the lease is not readily determinable. The lease term used to calculate the ROU asset and lease liabilities includes periods covered by options to extend or terminate when the Company is reasonably certain the lease term will include these optional periods. In accordance with ASC Topic 842, Leases (ASC Topic 842), the Company elected the short-term lease practical expedient that allows entities to recognize lease payments on a straight-line basis over the lease term for leases with a term of 12 months or less. The Company has also elected the practical expedient under ASC Topic 842 allowing entities to not separate non-lease components from lease components, but instead account for such components as a single lease component for all leases except leases involving assets used in manufacturing and distribution processes. The Company has operating lease arrangements for sales and administrative offices, manufacturing and distribution facilities, product testing facilities, equipment and vehicles. The Company’s leases have remaining lease terms ranging from 1 to 6 years, some of which include options to extend the lease term for periods generally not greater than 5 years and some of which include options to terminate the leases within 1 year. Certain leases also include options to purchase the leased asset. The Company's leases do not contain any material residual value guarantees or material restrictive covenants. Operating lease expense for the three months ended September 25, 2022 and September 26, 2021 was $6.2 million and $6.1 million, respectively, and $19.3 million and $18.7 million for the nine months ended September 25, 2022 and September 26, 2021, respectively. This includes variable lease costs related to assets used in manufacturing and distribution processes of approximately $0.8 million and $0.9 million for the three months ended September 25, 2022 and September 26, 2021, respectively, and $2.7 million and $3.4 million for the nine months ended September 25, 2022 and September 26, 2021, respectively. Other variable and short-term lease costs were not material. Balance sheet information related to the Company's leases was as follows (in thousands): September 25, December 31, September 26, Lease assets $ 40,543 $ 49,625 $ 47,507 Accrued liabilities $ 15,366 $ 17,369 $ 18,468 Lease liabilities 23,836 29,904 26,017 $ 39,202 $ 47,273 $ 44,485 Future maturities of the Company's operating lease liabilities as of September 25, 2022 were as follows (in thousands): 2022 $ 4,502 2023 14,351 2024 8,437 2025 6,121 2026 4,927 Thereafter 2,130 Future lease payments 40,468 Present value discount (1,266) Lease liabilities $ 39,202 Other lease information surrounding the Company's operating leases was as follows (dollars in thousands): Three months ended Nine months ended September 25, September 26, September 25, September 26, Cash outflows for amounts included in the measurement of lease liabilities $ 5,391 $ 4,756 $ 14,985 $ 20,479 ROU assets obtained in exchange for lease obligations, net of modifications $ 1,980 $ 11,189 $ 8,333 $ 17,390 September 25, December 31, September 26, Weighted-average remaining lease term (in years) 3.43 3.86 3.36 Weighted-average discount rate 2.1 % 1.9 % 2.4 %

Debt

Debt	9 Months Ended
	Sep. 25, 2022
Debt Disclosure [Abstract]
Debt	Debt Debt with a contractual term less than 12 months is generally classified as short-term and consisted of the following (in thousands): September 25, December 31, September 26, Unsecured commercial paper $ 692,551 $ 751,286 $ 749,620 Debt with a contractual term greater than 12 months is generally classified as long-term and consisted of the following (in thousands): September 25, December 31, September 26, Secured debt: Asset-backed Canadian commercial paper conduit facility $ 82,154 $ 85,054 $ 98,310 Asset-backed U.S. commercial paper conduit facility 489,074 272,589 242,254 Asset-backed securitization debt 2,416,075 1,634,753 1,961,571 Unamortized discounts and debt issuance costs (10,669) (7,611) (9,203) 2,976,634 1,984,785 2,292,932 Unsecured notes (at par value): Medium-term notes: Due in 2022, issued February 2019 4.05 % — 550,000 550,000 Due in 2022, issued June 2017 2.55 % — 400,000 400,000 Due in 2023, issued February 2018 3.35 % 350,000 350,000 350,000 Due in 2023, issued May 2020 (a) 4.94 % 632,586 737,302 756,763 Due in 2024, issued November 2019 (b) 3.14 % 583,926 680,586 698,550 Due in 2025, issued June 2020 3.35 % 700,000 700,000 700,000 Due in 2027, issued February 2022 3.05 % 500,000 — — Unamortized discounts and debt issuance costs (9,682) (9,228) (10,649) 2,756,830 3,408,660 3,444,664 September 25, December 31, September 26, Senior notes: Due in 2025, issued July 2015 3.50 % 450,000 450,000 450,000 Due in 2045, issued July 2015 4.625 % 300,000 300,000 300,000 Unamortized discounts and debt issuance costs (4,808) (5,332) (5,506) 745,192 744,668 744,494 3,502,022 4,153,328 4,189,158 Long-term debt 6,478,656 6,138,113 6,482,090 Current portion of long-term debt, net (1,740,422) (1,542,496) (1,605,798) Long-term debt, net $ 4,738,234 $ 4,595,617 $ 4,876,292 (a) €650.0 million par value remeasured to U.S. dollar at September 25, 2022, December 31, 2021, and September 26, 2021, respectively (b) €600.0 million par value remeasured to U.S. dollar at September 25, 2022, December 31, 2021, and September 26, 2021, respectively Future principal payments of the Company's debt obligations as of September 25, 2022 were as follows (in thousands): 2022 $ 978,288 2023 1,701,700 2024 1,257,491 2025 1,866,611 2026 521,545 Thereafter 870,731 Future principal payments 7,196,366 Unamortized discounts and debt issuance costs (25,159) $ 7,171,207

Asset-Backed Financing

Asset-Backed Financing	9 Months Ended
	Sep. 25, 2022
Transfers and Servicing [Abstract]
Asset-Backed Financing	Asset-Backed Financing The Company participates in asset-backed financing both through asset-backed securitization transactions and through asset-backed commercial paper conduit facilities. In the Company's asset-backed financing programs, the Company transfers retail motorcycle finance receivables to special purpose entities (SPEs), which are considered VIEs under U.S. GAAP. Each SPE then converts those assets into cash, through the issuance of debt. The Company retains servicing rights for all of the retail motorcycle finance receivables transferred to SPEs as part of an asset-backed financing. The accounting treatment for asset-backed financings depends on the terms of the related transaction and the Company’s continuing involvement with the VIE. In transactions where the Company has power over the significant activities of the VIE and has an obligation to absorb losses or the right to receive benefits from the VIE that are potentially significant to the VIE, the Company is the primary beneficiary of the VIE and consolidates the VIE within its consolidated financial statements. On a consolidated basis, the asset-backed financing is treated as a secured borrowing in this type of transaction and is referred to as an on-balance sheet asset-backed financing. In transactions where the Company is not the primary beneficiary of the VIE, the Company must determine whether it can achieve a sale for accounting purposes under ASC Topic 860, Transfers and Servicing . To achieve a sale for accounting purposes, the assets being transferred must be legally isolated, not be constrained by restrictions from further transfer, and be deemed to be beyond the Company’s control. If the Company does not meet all of these criteria for sale accounting, then the transaction is accounted for as a secured borrowing and is referred to as an on-balance sheet asset-backed financing. If the Company meets all three of the sale criteria above, the transaction is recorded as a sale for accounting purposes and is referred to as an off-balance sheet asset-backed financing. Upon sale, the retail motorcycle finance receivables are removed from the Company’s Consolidated balance sheets and a gain or loss is recognized for the difference between the cash proceeds received, the assets derecognized, and the liabilities recognized as part of the transaction. The gain or loss on sale is included in Financial Services revenue on the Consolidated statements of operations . The Company is not required, and does not currently intend, to provide any additional financial support to the on- or off-balance sheet VIEs associated with these transactions. Investors and creditors in these transactions only have recourse to the assets held by the VIEs. The assets and liabilities related to the on-balance sheet asset-backed financings included in the Consolidated balance sheets were as follows (in thousands): September 25, 2022 Finance receivables Allowance for credit losses Restricted cash Other assets Total assets Asset-backed debt, net On-balance sheet assets and liabilities: Consolidated VIEs: Asset-backed securitizations $ 3,003,578 $ (150,672) $ 170,297 $ 8,274 $ 3,031,477 $ 2,405,406 Asset-backed U.S. commercial paper conduit facility 540,751 (27,114) 35,581 1,308 550,526 489,074 Unconsolidated VIEs: Asset-backed Canadian commercial paper conduit facility 93,781 (3,874) 6,162 168 96,237 82,154 $ 3,638,110 $ (181,660) $ 212,040 $ 9,750 $ 3,678,240 $ 2,976,634 December 31, 2021 Finance receivables Allowance for credit losses Restricted cash Other assets Total assets Asset-backed debt, net On-balance sheet assets and liabilities: Consolidated VIEs: Asset-backed securitizations $ 2,048,194 $ (102,779) $ 123,717 $ 2,328 $ 2,071,460 $ 1,627,142 Asset-backed U.S. commercial paper conduit facility 297,454 (14,898) 20,567 654 303,777 272,589 Unconsolidated VIEs: Asset-backed Canadian commercial paper conduit facility 97,180 (3,990) 6,191 139 99,520 85,054 $ 2,442,828 $ (121,667) $ 150,475 $ 3,121 $ 2,474,757 $ 1,984,785 September 26, 2021 Finance receivables Allowance for credit losses Restricted cash Other assets Total assets Asset-backed debt, net On-balance sheet assets and liabilities: Consolidated VIEs: Asset-backed securitizations $ 2,362,454 $ (119,975) $ 148,177 $ 2,228 $ 2,392,884 $ 1,952,368 Asset-backed U.S. commercial paper conduit facility 264,226 (13,396) 19,688 526 271,044 242,254 Unconsolidated VIEs: Asset-backed Canadian commercial paper conduit facility 112,374 (4,729) 7,408 157 115,210 98,310 $ 2,739,054 $ (138,100) $ 175,273 $ 2,911 $ 2,779,138 $ 2,292,932 On-Balance Sheet Asset-Backed Securitization VIEs – The Company transfers U.S. retail motorcycle finance receivables to SPEs which in turn issue secured notes to investors, with various maturities and interest rates, secured by future collections of the purchased U.S. retail motorcycle finance receivables. Each on-balance sheet asset-backed securitization SPE is a separate legal entity, and the U.S. retail motorcycle finance receivables included in the asset-backed securitizations are only available for payment of the secured debt and other obligations arising from the asset-backed securitization transactions and are not available to pay other obligations or claims of the Company’s creditors until the associated secured debt and other obligations are satisfied. Restricted cash balances held by the SPEs are used only to support the securitizations. There are no amortization schedules for the secured notes; however, the debt is reduced monthly as available collections on the related U.S. retail motorcycle finance receivables are applied to outstanding principal. The secured notes currently have various contractual maturities ranging from 2024 to 2030. The Company is the primary beneficiary of its on-balance sheet asset-backed securitization VIEs because it retains servicing rights and a residual interest in the VIEs in the form of a debt security. As the servicer, the Company is the variable interest holder with the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance. As a residual interest holder, the Company has the obligation to absorb losses and the right to receive benefits which could potentially be significant to the VIE. Quarterly transfers of U.S. retail motorcycle finance receivables to SPEs, the respective proceeds, and the respective proceeds, net of discounts and issuance costs were as follows (in millions): 2022 2021 Transfers Proceeds Proceeds, net Transfers Proceeds Proceeds, net First quarter $ — $ — $ — $ 663.1 $ 600.0 $ 597.4 Second quarter 2,176.4 1,836.3 1,826.9 — — — Third quarter — — $ — 635.5 575.0 572.5 $ 2,176.4 $ 1,836.3 $ 1,826.9 $ 1,298.6 $ 1,175.0 $ 1,169.9 On-Balance Sheet Asset-Backed U.S. Commercial Paper Conduit Facility VIE – On September 23, 2022, the Company amended its $900.0 million revolving facility agreement (the U.S. Conduit Facility) with third-party banks and their asset-backed U.S. commercial paper conduits, increasing the aggregate commitment to $1.5 billion. Under the revolving facility agreement, the Company may transfer U.S. retail motorcycle finance receivables to an SPE, which in turn may issue debt to those third-party banks and their asset-backed U.S. commercial paper conduits. In addition to the $1.5 billion aggregate commitment, the agreement allows for additional borrowings, at the lender’s discretion, of up to $300.0 million. Availability under the U.S. Conduit Facility is based on, among other things, the amount of eligible U.S. retail motorcycle finance receivables held by the SPE as collateral. Under the U.S. Conduit Facility, the assets of the SPE are restricted as collateral for the payment of the debt or other obligations arising in the transaction and are not available to pay other obligations or claims of the Company’s creditors. The terms for this debt provide for interest on the outstanding principal based on prevailing commercial paper rates if funded by a conduit lender through the issuance of commercial paper. Subsequent to the amendment date, the interest rate on any borrowings, if not funded by a conduit lender through the issuance of commercial paper, along with the current outstanding debt as of the date of the borrowings, is based on the Secured Overnight Financing Rate (SOFR). Prior to the amendment date, if not funded by a conduit lender through the issuance of commercial paper, the terms of the interest were based on LIBOR, with provisions for a transition to other benchmark rates. In each of these cases, a program fee is assessed based on the outstanding debt principal balance. The U.S. Conduit Facility also provides for an unused commitment fee based on the unused portion of the total aggregate commitment. When calculating the unused fee, the aggregate commitment does not include any unused portion of the $300.0 million additional borrowings allowed. There is no amortization schedule; however, the debt is reduced monthly as available collections on the related finance receivables are applied to outstanding principal. Upon expiration of the U.S. Conduit Facility, any outstanding principal will continue to be reduced monthly through available collections. The expected remaining term of the related receivables held by the SPE is approximately 4 years. Unless earlier terminated or extended by mutual agreement of the Company and the lenders, as of September 25, 2022, the U.S. Conduit Facility has an expiration date of November 18, 2022. The Company is the primary beneficiary of its U.S. Conduit Facility VIE because it retains servicing rights and a residual interest in the VIE in the form of a debt security. As the servicer, the Company is the variable interest holder with the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance. As a residual interest holder, the Company has the obligation to absorb losses and the right to receive benefits which could potentially be significant to the VIE. There were no finance receivable transfers under the U.S. Conduit Facility during the third quarter of 2022. During the second quarter of 2022, the Company transferred $420.8 million of U.S. retail motorcycle finance receivables to an SPE which, in turn, issued $362.8 million of debt under the U.S. Conduit Facility. During the first quarter of 2022, the Company transferred $47.1 million of U.S. retail motorcycle finance receivables to an SPE which, in turn, issued $41.3 million of debt under the U.S. Conduit Facility. There were no finance receivable transfers under the U.S. Conduit Facility during the nine months ended September 26, 2021. On-Balance Sheet Asset-Backed Canadian Commercial Paper Conduit Facility – In June 2022, the Company renewed its facility agreement (Canadian Conduit) with a Canadian bank-sponsored asset-backed commercial paper conduit. Under the agreement, the Canadian Conduit is contractually committed, at the Company's option, to purchase eligible Canadian retail motorcycle finance receivables for proceeds up to C$125.0 million. The transferred assets are restricted as collateral for the payment of the associated debt. The terms for this debt provide for interest on the outstanding principal based on prevailing market interest rates plus a specified margin. The Canadian Conduit also provides for a program fee and an unused commitment fee based on the unused portion of the total aggregate commitment of C$125.0 million. There is no amortization schedule; however, the debt is reduced monthly as available collections on the related finance receivables are applied to outstanding principal. Upon expiration of the Canadian Conduit, any outstanding principal will continue to be reduced monthly through available collections. The expected remaining term of the related receivables is approximately 5 years. Unless earlier terminated or extended by mutual agreement between the Company and the lenders, as of September 25, 2022, the Canadian Conduit has an expiration date of June 30, 2023. The Company is not the primary beneficiary of the Canadian bank-sponsored, multi-seller conduit VIE; therefore, the Company does not consolidate the VIE. However, the Company treats the conduit facility as a secured borrowing as it maintains effective control over the assets transferred to the VIE and, therefore, does not meet the requirements for sale accounting. As the Company participates in and does not consolidate the Canadian bank-sponsored, multi-seller conduit VIE, the maximum exposure to loss associated with this VIE, which would only be incurred in the unlikely event that all the finance receivables and underlying collateral have no residual value, was $14.1 million at September 25, 2022. The maximum exposure is not an indication of the Company's expected loss exposure. Quarterly transfers of Canadian retail motorcycle finance receivables to the Canadian Conduit and the respective proceeds were as follows (in millions): 2022 2021 Transfers Proceeds Transfers Proceeds First quarter $ 25.3 $ 21.2 $ — $ — Second quarter — — — — Third quarter 27.8 23.0 32.8 27.4 $ 53.1 $ 44.2 $ 32.8 $ 27.4

Fair Value

Fair Value	9 Months Ended
	Sep. 25, 2022
Fair Value Disclosures [Abstract]
Fair Value	Fair Value The Company assesses the inputs used to measure fair value using a three-tier hierarchy. Level 1 inputs include quoted prices for identical instruments and are the most observable. Level 2 inputs include quoted prices for similar assets and observable inputs such as interest rates, foreign currency exchange rates, commodity prices, and yield curves. The Company uses the market approach to derive the fair value for its Level 2 fair value measurements. Foreign currency contracts, commodity contracts, and cross-currency swaps are valued using quoted forward rates and prices; interest rate caps are valued using quoted interest rates and yield curves. Level 3 inputs are not observable in the market and include the Company's judgments about the assumptions market participants would use in pricing the asset or liability. Recurring Fair Value Measurements – The Company’s assets and liabilities measured at fair value on a recurring basis were as follows (in thousands): September 25, 2022 Balance Level 1 Level 2 Assets: Cash equivalents $ 1,324,705 $ 1,057,000 $ 267,705 Marketable securities 33,631 33,631 — Derivative financial instruments 34,028 — 34,028 $ 1,392,364 $ 1,090,631 $ 301,733 Liabilities: Derivative financial instruments $ 150,729 $ — $ 150,729 December 31, 2021 Balance Level 1 Level 2 Assets: Cash equivalents $ 1,617,887 $ 1,337,900 $ 279,987 Marketable securities 49,650 49,650 — Derivative financial instruments 52,034 — 52,034 $ 1,719,571 $ 1,387,550 $ 332,021 Liabilities: Derivative financial instruments $ 2,361 $ — $ 2,361 September 26, 2021 Balance Level 1 Level 2 Assets: Cash equivalents $ 1,753,398 $ 1,503,400 $ 249,998 Marketable securities 48,766 48,766 — Derivative financial instruments 59,847 — 59,847 $ 1,862,011 $ 1,552,166 $ 309,845 Liabilities: Derivative financial instruments $ 694 $ — $ 694 Nonrecurring Fair Value Measurements – Repossessed inventory is recorded at the lower of cost or net realizable value through a nonrecurring fair value measurement. Repossessed inventory was $20.3 million at September 25, 2022 and $18.3 million at December 31, 2021 and September 26, 2021, for which the fair value adjustment was a decrease of $2.5 million, $2.9 million and $1.4 million, respectively. Fair value is estimated using Level 2 inputs based on the recent market values of repossessed inventory. Fair Value of Financial Instruments Measured at Cost – The carrying value of the Company's Cash and cash equivalents and Restricted cash approximates their fair values. The fair value and carrying value of the Company’s remaining financial instruments that are measured at cost or amortized cost were as follows (in thousands): September 25, 2022 December 31, 2021 September 26, 2021 Fair Value Carrying Value Fair Value Carrying Value Fair Value Carrying Value Assets: Finance receivables, net $ 7,555,135 $ 7,342,448 $ 6,794,499 $ 6,571,921 $ 7,117,828 $ 6,863,258 Liabilities: Deposits, net $ 369,429 $ 344,735 $ 293,602 $ 290,326 $ 292,284 $ 290,270 Debt: Unsecured commercial paper $ 692,551 $ 692,551 $ 751,286 $ 751,286 $ 749,620 $ 749,620 Asset-backed U.S. commercial paper conduit facility $ 489,074 $ 489,074 $ 272,589 $ 272,589 $ 242,254 $ 242,254 Asset-backed Canadian commercial paper conduit facility $ 82,154 $ 82,154 $ 85,054 $ 85,054 $ 98,310 $ 98,310 Asset-backed securitization debt $ 2,385,056 $ 2,405,406 $ 1,633,749 $ 1,627,142 $ 1,967,893 $ 1,952,368 Medium-term notes $ 2,612,372 $ 2,756,830 $ 3,513,815 $ 3,408,660 $ 3,583,411 $ 3,444,664 Senior notes $ 637,494 $ 745,192 $ 790,373 $ 744,668 $ 798,518 $ 744,494 Finance Receivables, net – The carrying value of retail and wholesale finance receivables is amortized cost less an allowance for credit losses. The fair value of retail finance receivables is generally calculated by discounting future cash flows using an estimated discount rate that reflects current credit, interest rate and prepayment risks associated with similar types of instruments. Fair value is determined based on Level 3 inputs. The amortized cost basis of wholesale finance receivables approximates fair value because they are generally either short-term or have interest rates that adjust with changes in market interest rates. Deposits, net – The carrying value of deposits is amortized cost, net of fees. The fair value of deposits is estimated based upon rates currently available for deposits with similar terms and maturities. Fair value is calculated using Level 3 inputs. Debt – The carrying value of debt is generally cost, net of unamortized discounts and debt issuance costs. The fair value of unsecured commercial paper is calculated using Level 2 inputs and approximates carrying value due to its short maturity. The fair value of debt provided under the U.S. Conduit Facility and the Canadian Conduit Facility is calculated using Level 2 inputs and approximates carrying value since the interest rates charged under the facilities are tied directly to market rates and fluctuate as market rates change. The fair values of the medium-term notes and senior notes are estimated based upon rates currently available for debt with similar terms and remaining maturities (Level 2 inputs). The fair value of the fixed-rate debt related to on-balance sheet asset-backed securitization transactions is estimated based on pricing currently available for transactions with similar terms and maturities (Level 2 inputs). The fair value of the floating-rate debt related to on-balance sheet asset-backed securitization transactions is calculated using Level 2 inputs and approximates carrying value since the interest rates charged are tied directly to market rates and fluctuate as market rates change.

Product Warranty and Recall Cam

Product Warranty and Recall Campaigns	9 Months Ended
	Sep. 25, 2022
Product Warranties Disclosures [Abstract]
Product Warranty and Recall Campaigns	Product Warranty and Recall CampaignsThe Company currently provides a standard two-year limited warranty on all new motorcycles sold worldwide, except in certain markets, where the Company currently provides a standard three-year limited warranty. The Company also provides a five-year limited warranty on the battery for electric motorcycles. In addition, the Company provides a one-year warranty for parts and accessories. The warranty coverage for the retail customer generally begins when the product is sold to a retail customer. The Company accrues for future warranty claims at the time of shipment using an estimated cost based primarily on historical Company claim information. Additionally, the Company has from time to time initiated certain voluntary recall campaigns. The Company records estimated recall costs when the liability is both probable and estimable. This generally occurs when the Company's management approves and commits to a recall. The warranty and recall liability is included in Accrued liabilities and Other long-term liabilities on the Consolidated balance sheets . Changes in the Company’s warranty and recall liabilities were as follows (in thousands): Three months ended Nine months ended September 25, September 26, September 25, September 26, Balance, beginning of period $ 61,727 $ 73,626 $ 61,621 $ 69,208 Warranties issued during the period 11,094 9,516 31,522 34,006 Settlements made during the period (12,099) (10,860) (29,228) (29,823) Recalls and changes to pre-existing warranty liabilities 17,181 (569) 13,988 (1,678) Balance, end of period $ 77,903 $ 71,713 $ 77,903 $ 71,713 The liability for recall campaigns, included in the balance above, was $31.2 million, $16.9 million and $21.9 million at September 25, 2022, December 31, 2021 and September 26, 2021, respectively.

Employee Benefit Plans

Employee Benefit Plans	9 Months Ended
	Sep. 25, 2022
Retirement Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans The Company has a qualified pension plan and postretirement healthcare benefit plans. The plans cover certain eligible employees and retirees of the Motorcycles segment. The Company also has unfunded supplemental employee retirement plan agreements (SERPA) with certain employees. Service cost is allocated among Selling, administrative and engineering expense, Motorcycles cost of goods sold and Inventories, net . Amounts capitalized in inventory are not significant. Non-service cost components of net periodic benefit (income) cost are presented in Other income, net . Components of net periodic benefit (income) cost for the Company's defined benefit plans were as follows (in thousands): Three months ended Nine months ended September 25, September 26, September 25, September 26, Pension and SERPA Benefits: Service cost $ 4,763 $ 6,348 $ 14,289 $ 19,044 Interest cost 15,473 15,472 46,418 46,412 Expected return on plan assets (31,476) (32,720) (94,428) (98,160) Amortization of unrecognized: Prior service credit (328) (312) (984) (936) Net loss 7,978 18,386 23,934 55,158 Settlement (gain) loss — — (256) 816 Net periodic benefit (income) cost $ (3,590) $ 7,174 $ (11,027) $ 22,334 Postretirement Healthcare Benefits: Service cost $ 1,161 $ 1,288 $ 3,482 $ 3,864 Interest cost 1,904 1,626 5,712 4,878 Expected return on plan assets (3,809) (3,495) (11,427) (10,485) Amortization of unrecognized: Prior service credit (581) (581) (1,743) (1,743) Net loss 122 264 366 792 Net periodic benefit income $ (1,203) $ (898) $ (3,610) $ (2,694) There are no required or planned voluntary qualified pension plan contributions for 2022. The Company expects it will continue to make ongoing benefit payments under the SERPA and postretirement healthcare plans.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 25, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation and Other Claims – The Company is subject to lawsuits and other claims related to product, product recall, commercial, employee, environmental and other matters. In determining costs to accrue related to these items, the Company carefully analyzes cases and considers the likelihood of adverse judgments or outcomes, as well as the potential range of possible loss. The Company accrues for matters when losses are both probable and estimable. Any amounts accrued for these matters are monitored on an ongoing basis and are updated based on new developments or new information as it becomes available for each matter. The Company also maintains insurance coverage for product liability exposures. The Company believes that its accruals and insurance coverage are adequate and there are no material exposures to loss in excess of amounts accrued and insured for losses related to these matters. Supply Matter – During the second quarter of 2022, the Company received information from a third-party supplier concerning a regulatory compliance matter relating to the supplier's component part. As a result, out of an abundance of caution, the Company suspended all vehicle assembly and shipments (excluding LiveWire models) for approximately two weeks during the second quarter of 2022. The Company continues to work through the regulatory compliance matter with its relevant suppliers and the regulatory agency. Given the uncertainties related to this matter , the Company is currently unable to reasonably estimate any potential additional costs or recall expenses it may incur. While at this time the Company does not expect that this matter will result in additional costs or recall expenses that are material, it is possible that the Company could incur additional costs or recall expenses that are material.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 25, 2022
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss Changes in Accumulated other comprehensive loss were as follows (in thousands): Three months ended September 25, 2022 Foreign currency translation adjustments Derivative financial instruments Pension and postretirement benefit plans Total Balance, beginning of period $ (79,543) $ 20,775 $ (183,508) $ (242,276) Other comprehensive loss, before reclassifications (47,333) (68,167) — (115,500) Income tax benefit 1,088 14,803 — 15,891 (46,245) (53,364) — (99,609) Reclassifications: Net loss on derivative financial instruments — 79,852 — 79,852 Prior service credits (a) — — (909) (909) Actuarial losses (a) — — 8,100 8,100 Reclassifications before tax — 79,852 7,191 87,043 Income tax expense — (17,457) (1,688) (19,145) — 62,395 5,503 67,898 Other comprehensive (loss) income (46,245) 9,031 5,503 (31,711) Balance, end of period $ (125,788) $ 29,806 $ (178,005) $ (273,987) Three months ended September 26, 2021 Foreign currency translation adjustments Derivative financial instruments Pension and postretirement benefit plans Total Balance, beginning of period $ (23,512) $ (29,088) $ (402,537) $ (455,137) Other comprehensive loss, before reclassifications (18,296) (31,698) — (49,994) Income tax benefit 460 6,928 — 7,388 (17,836) (24,770) — (42,606) Reclassifications: Net loss on derivative financial instruments — 37,166 — 37,166 Prior service credits (a) — — (893) (893) Actuarial losses (a) — — 18,650 18,650 Reclassifications before tax — 37,166 17,757 54,923 Income tax expense — (8,126) (4,169) (12,295) — 29,040 13,588 42,628 Other comprehensive (loss) income (17,836) 4,270 13,588 22 Balance, end of period $ (41,348) $ (24,818) $ (388,949) $ (455,115) Nine months ended September 25, 2022 Foreign currency translation adjustments Derivative financial instruments Pension and postretirement benefit plans Total Balance, beginning of period $ (44,401) $ (2,005) $ (194,513) $ (240,919) Other comprehensive loss, before reclassifications (82,737) (129,306) — (212,043) Income tax benefit 1,350 28,025 — 29,375 (81,387) (101,281) — (182,668) Reclassifications: Net loss on derivative financial instruments — 170,601 — 170,601 Prior service credits (a) — — (2,727) (2,727) Actuarial losses (a) — — 24,300 24,300 Reclassifications before tax — 170,601 21,573 192,174 Income tax expense — (37,509) (5,065) (42,574) — 133,092 16,508 149,600 Other comprehensive (loss) income (81,387) 31,811 16,508 (33,068) Balance, end of period $ (125,788) $ 29,806 $ (178,005) $ (273,987) Nine months ended September 26, 2021 Foreign currency translation adjustments Derivative financial instruments Pension and postretirement benefit plans Total Balance, beginning of period $ (7,589) $ (46,116) $ (429,712) $ (483,417) Other comprehensive loss, before reclassifications (33,648) (68,861) — (102,509) Income tax (expense) benefit (111) 15,026 — 14,915 (33,759) (53,835) — (87,594) Reclassifications: Net loss on derivative financial instruments — 96,854 — 96,854 Prior service credits (a) — — (2,679) (2,679) Actuarial losses (a) — — 55,950 55,950 Reclassifications before tax — 96,854 53,271 150,125 Income tax expense — (21,721) (12,508) (34,229) — 75,133 40,763 115,896 Other comprehensive (loss) income (33,759) 21,298 40,763 28,302 Balance, end of period $ (41,348) $ (24,818) $ (388,949) $ (455,115) (a) Amounts reclassified are included in the computation of net periodic benefit (income) cost, discussed further in Note 15

Reportable Segments

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 ended Nine months ended September 25, September 26, September 25, September 26, Motorcycles and Related Products: Motorcycles revenue $ 1,436,962 $ 1,160,618 $ 4,006,604 $ 3,724,225 Gross profit 490,306 310,425 1,284,691 1,137,961 Selling, administrative and engineering expense 232,541 212,243 632,756 626,211 Restructuring expense (benefit) 3 517 (389) 731 Operating income 257,762 97,665 652,324 511,019 Financial Services: Financial Services revenue 211,613 204,692 606,244 595,650 Financial Services expense 130,657 98,047 353,003 275,487 Restructuring expense — 98 — 436 Operating income 80,956 106,547 253,241 319,727 Operating income $ 338,718 $ 204,212 $ 905,565 $ 830,746

Supplemental Consolidating Data

Supplemental Consolidating Data	9 Months Ended
	Sep. 25, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Supplemental Consolidating Data	Supplemental Consolidating Data The supplemental consolidating legal entity data for Harley-Davidson Motor Company, Harley-Davidson Financial Services and related consolidating adjustments are presented for informational purposes. The legal entity income statement information presented below differs from reportable segment income statement information due to the allocation of legal entity consolidating adjustments to income for reportable segments. Supplemental consolidating data is as follows (in thousands): Three months ended September 25, 2022 Harley-Davidson Motor Company Harley-Davidson Financial Services Consolidating Adjustments Consolidated Revenue: Motorcycles and Related Products $ 1,439,894 $ — $ (2,932) $ 1,436,962 Financial Services — 212,100 (487) 211,613 1,439,894 212,100 (3,419) 1,648,575 Costs and expenses: Motorcycles and Related Products cost of goods sold 946,656 — — 946,656 Financial Services interest expense — 60,740 — 60,740 Financial Services provision for credit losses — 36,617 — 36,617 Selling, administrative and engineering expense 233,151 36,231 (3,541) 265,841 Restructuring expense 3 — — 3 1,179,810 133,588 (3,541) 1,309,857 Operating income 260,084 78,512 122 338,718 Other income, net 9,358 — — 9,358 Investment income 201,723 — (200,000) 1,723 Interest expense 8,124 — — 8,124 Income before income taxes 463,041 78,512 (199,878) 341,675 Provision for income taxes 61,390 19,099 — 80,489 Net income $ 401,651 $ 59,413 $ (199,878) $ 261,186 Nine months ended September 25, 2022 Harley-Davidson Motor Company Harley-Davidson Financial Services Consolidating Adjustments Consolidated Revenue: Motorcycles and Related Products $ 4,015,779 $ — $ (9,175) $ 4,006,604 Financial Services — 607,876 (1,632) 606,244 4,015,779 607,876 (10,807) 4,612,848 Costs and expenses: Motorcycles and Related Products cost of goods sold 2,721,913 — — 2,721,913 Financial Services interest expense — 150,488 — 150,488 Financial Services provision for credit losses — 94,572 — 94,572 Selling, administrative and engineering expense 634,506 117,117 (10,924) 740,699 Restructuring benefit (389) — — (389) 3,356,030 362,177 (10,924) 3,707,283 Operating income 659,749 245,699 117 905,565 Other income, net 30,443 — — 30,443 Investment (income) loss 196,214 — (200,000) (3,786) Interest expense 23,555 — — 23,555 Income before income taxes 862,851 245,699 (199,883) 908,667 Provision for income taxes 150,231 58,899 — 209,130 Net income $ 712,620 $ 186,800 $ (199,883) $ 699,537 Three months ended September 26, 2021 Harley-Davidson Motor Company Harley-Davidson Financial Services Consolidating Adjustments Consolidated Revenue: Motorcycles and Related Products $ 1,167,432 $ — $ (6,814) $ 1,160,618 Financial Services — 202,080 2,612 204,692 1,167,432 202,080 (4,202) 1,365,310 Costs and expenses: Motorcycles and Related Products cost of goods sold 850,193 — — 850,193 Financial Services interest expense — 44,770 — 44,770 Financial Services provision for credit losses — 11,208 — 11,208 Selling, administrative and engineering expense 216,030 42,686 (4,404) 254,312 Restructuring expense 517 98 — 615 1,066,740 98,762 (4,404) 1,161,098 Operating income 100,692 103,318 202 204,212 Other income, net 858 — — 858 Investment income 120,198 — (120,000) 198 Interest expense 7,779 — — 7,779 Income before income taxes 213,969 103,318 (119,798) 197,489 Provision for income taxes 7,408 27,108 — 34,516 Net income $ 206,561 $ 76,210 $ (119,798) $ 162,973 Nine months ended September 26, 2021 Harley-Davidson Motor Company Harley-Davidson Financial Services Consolidating Adjustments Consolidated Revenue: Motorcycles and Related Products $ 3,742,869 $ — $ (18,644) $ 3,724,225 Financial Services — 590,468 5,182 595,650 3,742,869 590,468 (13,462) 4,319,875 Costs and expenses: Motorcycles and Related Products cost of goods sold 2,586,264 — — 2,586,264 Financial Services interest expense — 149,098 — 149,098 Financial Services provision for credit losses — 4,935 — 4,935 Selling, administrative and engineering expense 635,902 125,053 (13,290) 747,665 Restructuring expense 731 436 — 1,167 3,222,897 279,522 (13,290) 3,489,129 Operating income 519,972 310,946 (172) 830,746 Other income, net 1,825 — — 1,825 Investment income 244,331 — (240,000) 4,331 Interest expense 23,209 — — 23,209 Income before income taxes 742,919 310,946 (240,172) 813,693 Provision for income taxes 112,974 72,262 — 185,236 Net income $ 629,945 $ 238,684 $ (240,172) $ 628,457 September 25, 2022 Harley-Davidson Motor Company Harley-Davidson Financial Services Consolidating Adjustments Consolidated ASSETS Current assets: Cash and cash equivalents $ 926,389 $ 803,861 $ — $ 1,730,250 Accounts receivable, net 695,899 — (395,445) 300,454 Finance receivables, net — 1,807,718 — 1,807,718 Inventories, net 680,762 — — 680,762 Restricted cash 100,000 187,264 — 287,264 Other current assets 167,999 54,251 (16,516) 205,734 2,571,049 2,853,094 (411,961) 5,012,182 Finance receivables, net — 5,534,730 — 5,534,730 Property, plant and equipment, net 616,382 25,269 — 641,651 Pension and postretirement assets 424,784 — — 424,784 Goodwill 60,440 — — 60,440 Deferred income taxes 15,806 79,162 (25,234) 69,734 Lease assets 34,230 6,313 — 40,543 Other long-term assets 206,409 43,368 (106,230) 143,547 $ 3,929,100 $ 8,541,936 $ (543,425) $ 11,927,611 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable $ 414,448 $ 419,531 $ (395,445) $ 438,534 Accrued liabilities 532,808 193,328 (15,592) 710,544 Short-term deposits, net — 97,856 — 97,856 Short-term debt — 692,551 — 692,551 Current portion of long-term debt, net — 1,740,422 — 1,740,422 947,256 3,143,688 (411,037) 3,679,907 Long-term deposits, net — 246,879 — 246,879 Long-term debt, net 745,192 3,993,042 — 4,738,234 Lease liabilities 17,524 6,312 — 23,836 Pension and postretirement liabilities 92,953 — — 92,953 Deferred income taxes 32,199 582 (24,469) 8,312 Other long-term liabilities 157,112 138,027 2,141 297,280 Commitments and contingencies (Note 16) Shareholders’ equity 1,936,864 1,013,406 (110,060) 2,840,210 $ 3,929,100 $ 8,541,936 $ (543,425) $ 11,927,611 September 26, 2021 Harley-Davidson Motor Company Harley-Davidson Financial Services Consolidating Adjustments Consolidated ASSETS Current assets: Cash and cash equivalents $ 1,115,014 $ 946,289 $ — $ 2,061,303 Accounts receivable, net 590,806 — (308,179) 282,627 Finance receivables, net — 1,540,822 — 1,540,822 Inventories, net 475,314 — — 475,314 Restricted cash — 153,873 — 153,873 Other current assets 114,221 94,868 (14,608) 194,481 2,295,355 2,735,852 (322,787) 4,708,420 Finance receivables, net — 5,322,436 — 5,322,436 Property, plant and equipment, net 642,253 29,583 — 671,836 Pension and postretirement assets 132,958 — — 132,958 Goodwill 63,841 — — 63,841 Deferred income taxes 43,097 86,011 (1,049) 128,059 Lease assets 40,163 7,344 — 47,507 Other long-term assets 191,126 37,370 (103,749) 124,747 $ 3,408,793 $ 8,218,596 $ (427,585) $ 11,199,804 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable $ 361,057 $ 329,338 $ (308,179) $ 382,216 Accrued liabilities 489,988 123,642 (13,778) 599,852 Short-term deposits, net — 92,626 — 92,626 Short-term debt — 749,620 — 749,620 Current portion of long-term debt, net — 1,605,798 — 1,605,798 851,045 2,901,024 (321,957) 3,430,112 Long-term deposits, net — 197,644 — 197,644 Long-term debt, net 744,494 4,131,798 — 4,876,292 Lease liabilities 19,457 6,560 — 26,017 Pension and postretirement liabilities 103,144 — — 103,144 Deferred income taxes 7,166 1,419 — 8,585 Other long-term liabilities 173,178 48,586 2,352 224,116 Commitments and contingencies (Note 16) Shareholders’ equity 1,510,309 931,565 (107,980) 2,333,894 $ 3,408,793 $ 8,218,596 $ (427,585) $ 11,199,804 Nine months ended September 25, 2022 Harley-Davidson Motor Company Harley-Davidson Financial Services Consolidating Adjustments Consolidated Cash flows from operating activities: Net income $ 712,620 $ 186,800 $ (199,883) $ 699,537 Adjustments to reconcile Net income to Net cash provided by operating activities: Depreciation and amortization 108,485 6,382 — 114,867 Amortization of deferred loan origination costs — 72,214 — 72,214 Amortization of financing origination fees 524 10,951 — 11,475 Provision for long-term employee benefits (14,637) — — (14,637) Employee benefit plan contributions and payments (4,766) — — (4,766) Stock compensation expense 31,418 2,177 — 33,595 Net change in wholesale finance receivables related to sales — — (294,698) (294,698) Provision for credit losses — 94,572 — 94,572 Deferred income taxes 1,981 (4,681) (280) (2,980) Other, net 20,190 4,318 (116) 24,392 Changes in current assets and liabilities: Accounts receivable, net (443,645) — 292,919 (150,726) Finance receivables – accrued interest and other — 3,566 — 3,566 Inventories, net (6,577) — — (6,577) Accounts payable and accrued liabilities 22,075 321,594 (305,924) 37,745 Other current assets (58,774) 2,615 13,284 (42,875) (343,726) 513,708 (294,815) (124,833) Net cash provided by operating activities 368,894 700,508 (494,698) 574,704 Cash flows from investing activities: Capital expenditures (82,153) (2,794) — (84,947) Origination of finance receivables — (6,642,296) 2,868,466 (3,773,830) Collections on finance receivables — 5,684,649 (2,573,768) 3,110,881 Other investing activities 2,160 — — 2,160 Net cash used by investing activities (79,993) (960,441) 294,698 (745,736) Nine months ended September 25, 2022 Harley-Davidson Motor Company Harley-Davidson Financial Services Consolidating Adjustments Consolidated Cash flows from financing activities: Proceeds from issuance of medium-term notes — 495,785 — 495,785 Repayments of medium-term notes — (950,000) — (950,000) Proceeds from securitization debt — 1,826,891 — 1,826,891 Repayments of securitization debt — (1,054,939) — (1,054,939) Borrowings of asset-backed commercial paper — 448,255 — 448,255 Repayments of asset-backed commercial paper — (228,431) — (228,431) Net decrease in unsecured commercial paper — (60,281) — (60,281) Net increase in deposits — 54,080 — 54,080 Deposit in advance of business combination 100,000 — — 100,000 Dividends paid (70,163) (200,000) 200,000 (70,163) Repurchase of common stock (338,496) — — (338,496) Other financing activities (1,237) — — (1,237) Net cash (used) provided by financing activities (309,896) 331,360 200,000 221,464 Effect of exchange rate changes on cash, cash equivalents and restricted cash (30,821) (2,540) — (33,361) Net (decrease) increase in cash, cash equivalents and restricted cash $ (51,816) $ 68,887 $ — $ 17,071 Cash, cash equivalents and restricted cash: Cash, cash equivalents and restricted cash, beginning of period $ 1,078,205 $ 947,014 $ — $ 2,025,219 Net (decrease) increase in cash, cash equivalents and restricted cash (51,816) 68,887 — 17,071 Cash, cash equivalents and restricted cash, end of period $ 1,026,389 $ 1,015,901 $ — $ 2,042,290 Nine months ended September 26, 2021 Harley-Davidson Motor Company Harley-Davidson Financial Services Consolidating Adjustments Consolidated Cash flows from operating activities: Net income $ 629,945 $ 238,684 $ (240,172) $ 628,457 Adjustments to reconcile Net income to Net cash provided by operating activities: Depreciation and amortization 115,779 6,704 — 122,483 Amortization of deferred loan origination costs — 63,265 — 63,265 Amortization of financing origination fees 517 9,909 — 10,426 Provision for long-term employee benefits 19,640 — — 19,640 Employee benefit plan contributions and payments (14,677) — — (14,677) Stock compensation expense 31,089 2,943 — 34,032 Net change in wholesale finance receivables related to sales — — (22,031) (22,031) Provision for credit losses — 4,935 — 4,935 Deferred income taxes 4,710 6,028 (112) 10,626 Other, net 3,320 (1,397) 171 2,094 Changes in current assets and liabilities: Accounts receivable, net (379,821) — 231,151 (148,670) Finance receivables – accrued interest and other — 11,088 — 11,088 Inventories, net 31,874 — — 31,874 Accounts payable and accrued liabilities 162,088 247,740 (241,522) 168,306 Other current assets (11,127) 3,952 10,878 3,703 (36,608) 355,167 (21,465) 297,094 Net cash provided by operating activities 593,337 593,851 (261,637) 925,551 Cash flows from investing activities: Capital expenditures (59,128) (2,348) — (61,476) Origination of finance receivables — (6,157,658) 2,712,705 (3,444,953) Collections on finance receivables — 5,659,465 (2,691,068) 2,968,397 Other investing activities 2,485 — — 2,485 Net cash used by investing activities (56,643) (500,541) 21,637 (535,547) Nine months ended September 26, 2021 Harley-Davidson Motor Company Harley-Davidson Financial Services Consolidating Adjustments Consolidated Cash flows from financing activities: Repayments of medium-term notes — (1,400,000) — (1,400,000) Proceeds from securitization debt — 1,169,910 — 1,169,910 Repayments of securitization debt — (1,013,820) — (1,013,820) Borrowings of asset-backed commercial paper — 27,406 — 27,406 Repayments of asset-backed commercial paper — (206,671) — (206,671) Net decrease in unsecured commercial paper — (261,978) — (261,978) Net increase in deposits — 210,144 — 210,144 Dividends paid (69,316) (240,000) 240,000 (69,316) Repurchase of common stock (11,545) — — (11,545) Other financing activities 4,324 — — 4,324 Net cash used by financing activities (76,537) (1,715,009) 240,000 (1,551,546) Effect of exchange rate changes on cash, cash equivalents and restricted cash (11,304) 254 — (11,050) Net increase (decrease) in cash, cash equivalents and restricted cash $ 448,853 $ (1,621,445) $ — $ (1,172,592) Cash, cash equivalents and restricted cash: Cash, cash equivalents and restricted cash, beginning of period $ 666,161 $ 2,743,007 $ — $ 3,409,168 Net increase (decrease) in cash, cash equivalents and restricted cash 448,853 (1,621,445) — (1,172,592) Cash, cash equivalents and restricted cash, end of period $ 1,115,014 $ 1,121,562 $ — $ 2,236,576

Subsequent Event

Subsequent Event	9 Months Ended
	Sep. 25, 2022
Subsequent Events [Abstract]
Subsequent Event	Subsequent Event LiveWire Transaction – On September 26, 2022, the Company's electric motorcycle subsidiary (LiveWire) completed its planned merger with AEA-Bridges Impact Corp. (ABIC), a special purpose acquisition company, to create a new publicly traded company. As described below, the transaction was financed with ABIC’s cash held in trust less redemptions, a cash investment from the Company and an investment from KYMCO, an independent strategic investor. At the LiveWire transaction close, LiveWire received net proceeds of approximately $294 million, including a $180 million investment from the Company, net of transaction expenses, a $100 million investment from KYMCO and a $14 million investment from ABIC, net of redemptions and transaction expenses. Following the close, the Company has an equity interest in LiveWire of approximately 89.4%, ABIC’s shareholders and founders have an equity interest of approximately 5.7%, and KYMCO has an equity interest of approximately 4.9%. As the controlling shareholder, the Company will continue to consolidate LiveWire’s results, with additional adjustments to recognize non-controlling shareholder interests. In connection with the LiveWire transaction, the Company received a $100 million cash deposit from KYMCO during the quarter ended September 25, 2022 in advance of the pending LiveWire transaction close. The $100 million cash deposit was included in Restricted cash on the Consolidated balance sheet as of September 25, 2022. In addition, the Company recorded a $100 million liability in Accrued liabilities on the Consolidated balance sheet as of September 25, 2022, representing the Company's obligation to return the funds to KYMCO in the event the transaction did not close.

Basis of Presentation and Use_2

Basis of Presentation and Use of Estimates (Policies)	9 Months Ended
	Sep. 25, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Use of Estimates	The preparation of financial statements in conformity with U.S. GAAP requires the Company's management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and the accompanying notes. Actual results could differ from those estimates.
New Accounting Standards	Accounting Standards Not Yet AdoptedIn March 2022, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2022-02, Financial Instruments-Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures (ASU 2022-02). ASU 2022-02 addresses areas identified by the FASB as part of its post-implementation review of its previously issued credit losses standard (ASU 2016-13) that introduced the current expected credit losses (CECL) model. ASU 2022-02 eliminates the accounting guidance for troubled debt restructurings by creditors that have adopted the CECL model and enhances disclosure requirements for certain loan refinancings and restructurings made with borrowers experiencing financial difficulty. In addition, ASU 2022-02 requires a public business entity to disclose current-period gross write-offs for financing receivables and net investment in leases by year of origination in the vintage disclosures. As the Company has already adopted ASU 2016-13, the new guidance is effective for the fiscal years beginning after December 15, 2022 and for interim periods within those fiscal years. Early adoption is permitted. The adoption of ASU 2022-02 is not expected to have a material impact on the Company's consolidated financial statements.

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 25, 2022
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	Disaggregated revenue by major source was as follows (in thousands): Three months ended Nine months ended September 25, September 26, September 25, September 26, Motorcycles and Related Products Revenue: Motorcycles $ 1,133,558 $ 885,626 $ 3,132,717 $ 2,931,669 Parts and accessories 201,003 204,506 581,068 577,035 Apparel 69,834 49,424 198,568 155,378 Licensing 10,662 8,481 28,940 22,865 Other 21,905 12,581 65,311 37,278 1,436,962 1,160,618 4,006,604 3,724,225 Financial Services Revenue: Interest income 179,261 174,103 509,702 501,645 Other 32,352 30,589 96,542 94,005 211,613 204,692 606,244 595,650 $ 1,648,575 $ 1,365,310 $ 4,612,848 $ 4,319,875
Schedule of Deferred Revenue	Deferred revenue, included in Accrued liabilities and Other long-term liabilities on the Consolidated balance sheets , was as follows (in thousands): September 25, September 26, Balance, beginning of period $ 40,092 $ 36,614 Balance, end of period $ 45,746 $ 38,682

Restructuring Activities (Table

Restructuring Activities (Tables)	9 Months Ended
	Sep. 25, 2022
Restructuring and Related Activities [Abstract]
Schedule of Changes in the Accrued Restructuring Liability	This includes restructuring expense (benefit) for the three and nine month periods ended September 25, 2022 and September 26, 2021 by segment as follows (in thousands): Three months ended Nine months ended September 25, September 26, September 25, September 26, Motorcycles and Related Products $ 3 $ 517 $ (389) $ 731 Financial Services — 98 — 436 $ 3 $ 615 $ (389) $ 1,167 Changes in accrued restructuring expenses, which are included in Accrued liabilities on the Consolidated balance sheets, were as follows (in thousands): Three months ended September 25, 2022 Employee Termination Benefits Contract Terminations Non-Current Asset Adjustments Total Balance, beginning of period $ 79 $ 744 $ — $ 823 Restructuring expense — 3 — 3 Utilized – cash (19) (221) — (240) Utilized – non cash — — — — Foreign currency changes (4) (5) — (9) Balance, end of period $ 56 $ 521 $ — $ 577 Three months ended September 26, 2021 Employee Termination Benefits Contract Terminations Non-Current Asset Adjustments Total Balance, beginning of period $ 1,246 $ 2,084 $ — $ 3,330 Restructuring (benefit) expense (165) 807 (27) 615 Utilized – cash (397) (1,197) — (1,594) Utilized – non cash — — 27 27 Foreign currency changes (7) (21) — (28) Balance, end of period $ 677 $ 1,673 $ — $ 2,350 Nine months ended September 25, 2022 Employee Termination Benefits Contract Terminations Non-Current Asset Adjustments Total Balance, beginning of period $ 121 $ 2,874 $ — $ 2,995 Restructuring benefit — (389) — (389) Utilized – cash (55) (1,949) — (2,004) Utilized – non cash — — — — Foreign currency changes (10) (15) — (25) Balance, end of period $ 56 $ 521 $ — $ 577 Nine months ended September 26, 2021 Employee Termination Benefits Contract Terminations Non-Current Asset Adjustments Total Balance, beginning of period $ 7,724 $ 16,196 $ — $ 23,920 Restructuring (benefit) expense (1,131) 2,576 (278) 1,167 Utilized – cash (5,743) (16,987) — (22,730) Utilized – non cash — — 278 278 Foreign currency changes (173) (112) — (285) Balance, end of period $ 677 $ 1,673 $ — $ 2,350

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 25, 2022
Earnings Per Share [Abstract]
Schedule of Reconciliation of Earnings Per Share Basic and Diluted	The computation of basic and diluted earnings per share was as follows (in thousands, except per share amounts): Three months ended Nine months ended September 25, September 26, September 25, September 26, Net income $ 261,186 $ 162,973 $ 699,537 $ 628,457 Basic weighted-average shares outstanding 146,217 153,863 148,673 153,700 Effect of dilutive securities – employee stock compensation plan 856 1,254 862 1,203 Diluted weighted-average shares outstanding 147,073 155,117 149,535 154,903 Net earnings per share: Basic $ 1.79 $ 1.06 $ 4.71 $ 4.09 Diluted $ 1.78 $ 1.05 $ 4.68 $ 4.06

Additional Balance Sheet and _2

Additional Balance Sheet and Cash Flow Information (Tables)	9 Months Ended
	Sep. 25, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Marketable Securities	Investments in Marketable Securities – The Company’s investments in marketable securities consisted of the following (in thousands): September 25, December 31, September 26, Mutual funds $ 33,631 $ 49,650 $ 48,766
Schedule of Inventories, Net	Inventories, net consisted of the following (in thousands): September 25, December 31, September 26, Raw materials and work in process $ 311,424 $ 347,915 $ 279,699 Motorcycle finished goods 304,195 345,956 178,315 Parts and accessories and apparel 160,724 103,191 86,977 Inventory at lower of FIFO cost or net realizable value 776,343 797,062 544,991 Excess of FIFO over LIFO cost (95,581) (84,120) (69,677) $ 680,762 $ 712,942 $ 475,314
Schedule of Certificates of Deposit Maturity	Future maturities of the Company's certificates of deposit as of September 25, 2022 were as follows (in thousands): 2022 $ 27,475 2023 80,106 2024 80,378 2025 24,006 2026 79,742 Thereafter 54,158 Future maturities 345,865 Unamortized fees (1,130) $ 344,735
Schedule of Reconciliation of Net Cash Provided by Operating Activities	Operating Cash Flow – The reconciliation of Net income to Net cash provided by operating activities was as follows (in thousands): Nine months ended September 25, September 26, Cash flows from operating activities: Net income $ 699,537 $ 628,457 Adjustments to reconcile Net income to Net cash provided by operating activities: Depreciation and amortization 114,867 122,483 Amortization of deferred loan origination costs 72,214 63,265 Amortization of financing origination fees 11,475 10,426 Provision for long-term employee benefits (14,637) 19,640 Employee benefit plan contributions and payments (4,766) (14,677) Stock compensation expense 33,595 34,032 Net change in wholesale finance receivables related to sales (294,698) (22,031) Provision for credit losses 94,572 4,935 Deferred income taxes (2,980) 10,626 Other, net 24,392 2,094 Changes in current assets and liabilities: Accounts receivable, net (150,726) (148,670) Finance receivables – accrued interest and other 3,566 11,088 Inventories, net (6,577) 31,874 Accounts payable and accrued liabilities 37,745 168,306 Other current assets (42,875) 3,703 (124,833) 297,094 Net cash provided by operating activities $ 574,704 $ 925,551

Finance Receivables (Tables)

Finance Receivables (Tables)	9 Months Ended
	Sep. 25, 2022
Receivables [Abstract]
Schedule of Finance Receivables	Finance receivables, net were as follows (in thousands): September 25, December 31, September 26, Retail finance receivables $ 6,945,649 $ 6,493,519 $ 6,727,956 Wholesale finance receivables 756,895 417,781 491,136 7,702,544 6,911,300 7,219,092 Allowance for credit losses (360,096) (339,379) (355,834) $ 7,342,448 $ 6,571,921 $ 6,863,258
Schedule of Changes In The Allowance For Finance Credit Losses On Finance Receivables	Changes in the Company's allowance for credit losses on its finance receivables by portfolio were as follows (in thousands): Three months ended September 25, 2022 Nine months ended September 25, 2022 Retail Wholesale Total Retail Wholesale Total Balance, beginning of period $ 342,691 $ 9,446 $ 352,137 $ 326,320 $ 13,059 $ 339,379 Provision for credit losses 34,697 1,920 36,617 96,265 (1,693) 94,572 Charge-offs (40,283) — (40,283) (114,145) — (114,145) Recoveries 11,625 — 11,625 40,290 — 40,290 Balance, end of period $ 348,730 $ 11,366 $ 360,096 $ 348,730 $ 11,366 $ 360,096 Three months ended September 26, 2021 Nine months ended September 26, 2021 Retail Wholesale Total Retail Wholesale Total Balance, beginning of period $ 342,490 $ 16,321 $ 358,811 $ 371,738 $ 19,198 $ 390,936 Provision for credit losses 13,861 (2,653) 11,208 10,465 (5,530) 4,935 Charge-offs (24,670) — (24,670) (76,366) — (76,366) Recoveries 10,335 150 10,485 36,179 150 36,329 Balance, end of period $ 342,016 $ 13,818 $ 355,834 $ 342,016 $ 13,818 $ 355,834
Schedule of Financing Receivable Credit Quality Indicators	The amortized cost of the Company's U.S. and Canadian retail finance receivables by vintage and credit quality indicator was as follows (in thousands): September 25, 2022 2022 2021 2020 2019 2018 2017 & Prior Total U.S. Retail: Super prime $ 1,002,057 $ 684,597 $ 312,641 $ 187,399 $ 87,508 $ 36,424 $ 2,310,626 Prime 1,281,483 982,085 476,677 297,481 160,552 102,887 3,301,165 Sub-prime 389,674 334,611 185,874 122,231 67,147 58,364 1,157,901 2,673,214 2,001,293 975,192 607,111 315,207 197,675 6,769,692 Canadian Retail: Super prime 46,930 33,149 19,727 14,500 6,365 2,085 122,756 Prime 15,043 11,537 8,149 5,738 3,562 2,345 46,374 Sub-prime 1,984 1,552 1,321 991 582 397 6,827 63,957 46,238 29,197 21,229 10,509 4,827 175,957 $ 2,737,171 $ 2,047,531 $ 1,004,389 $ 628,340 $ 325,716 $ 202,502 $ 6,945,649 December 31, 2021 2021 2020 2019 2018 2017 2016 & Prior Total U.S. Retail: Super prime $ 1,010,636 $ 484,479 $ 316,390 $ 171,763 $ 65,753 $ 27,424 $ 2,076,445 Prime 1,391,385 712,858 470,177 277,206 142,288 82,169 3,076,083 Sub-prime 476,688 273,787 182,002 105,330 61,923 51,035 1,150,765 2,878,709 1,471,124 968,569 554,299 269,964 160,628 6,303,293 Canadian Retail: Super prime 51,779 32,724 27,073 13,984 4,619 1,614 131,793 Prime 16,882 12,675 9,244 6,230 3,628 1,779 50,438 Sub-prime 2,356 2,134 1,571 947 606 381 7,995 71,017 47,533 37,888 21,161 8,853 3,774 190,226 $ 2,949,726 $ 1,518,657 $ 1,006,457 $ 575,460 $ 278,817 $ 164,402 $ 6,493,519 September 26, 2021 2021 2020 2019 2018 2017 2016 & Prior Total U.S. Retail: Super prime $ 896,163 $ 551,078 $ 367,490 $ 206,333 $ 83,674 $ 38,494 $ 2,143,232 Prime 1,228,335 805,349 538,440 323,554 171,308 107,715 3,174,701 Sub-prime 428,238 312,163 207,139 119,730 72,026 64,890 1,204,186 2,552,736 1,668,590 1,113,069 649,617 327,008 211,099 6,522,119 Canadian Retail: Super prime 50,110 36,596 31,173 16,701 6,265 2,239 143,084 Prime 16,166 13,904 10,336 7,026 4,228 2,350 54,010 Sub-prime 2,345 2,436 1,694 1,090 704 474 8,743 68,621 52,936 43,203 24,817 11,197 5,063 205,837 $ 2,621,357 $ 1,721,526 $ 1,156,272 $ 674,434 $ 338,205 $ 216,162 $ 6,727,956 The amortized cost of the Company's wholesale financial receivables, by vintage and credit quality indicator, was as follows (in thousands): September 25, 2022 2022 2021 2020 2019 2018 2017 & Prior Total Non-Performing $ — $ — $ — $ — $ — $ — $ — Doubtful — — — — — — — Substandard — — — — — — — Special Mention — — — — — — — Medium Risk — — — — — — — Low Risk 714,122 22,850 7,169 3,749 8,607 398 756,895 $ 714,122 $ 22,850 $ 7,169 $ 3,749 $ 8,607 $ 398 $ 756,895 December 31, 2021 2021 2020 2019 2018 2017 2016 & Prior Total Non-Performing $ — $ — $ — $ — $ — $ — $ — Doubtful — — — — — — — Substandard — — — — — — — Special Mention — — — — — — — Medium Risk — — — — — — — Low Risk 380,211 11,379 11,047 10,565 3,662 917 417,781 $ 380,211 $ 11,379 $ 11,047 $ 10,565 $ 3,662 $ 917 $ 417,781 September 26, 2021 2021 2020 2019 2018 2017 2016 & Prior Total Non-Performing $ — $ — $ — $ — $ — $ — $ — Doubtful — — — — — — — Substandard — — — — — — — Special Mention — — — — — — — Medium Risk — — — — — — — Low Risk 432,088 19,082 22,821 11,218 4,222 1,705 491,136 $ 432,088 $ 19,082 $ 22,821 $ 11,218 $ 4,222 $ 1,705 $ 491,136
Schedule of Past Due Financing Receivables	The aging analysis of the Company's finance receivables was as follows (in thousands): September 25, 2022 Current 31-60 Days 61-90 Days Greater than Total Total Retail finance receivables $ 6,714,095 $ 136,957 $ 49,260 $ 45,337 $ 231,554 $ 6,945,649 Wholesale finance receivables 756,609 271 15 — 286 756,895 $ 7,470,704 $ 137,228 $ 49,275 $ 45,337 $ 231,840 $ 7,702,544 December 31, 2021 Current 31-60 Days 61-90 Days Greater than Total Total Retail finance receivables $ 6,298,485 $ 115,942 $ 44,326 $ 34,766 $ 195,034 $ 6,493,519 Wholesale finance receivables 417,720 9 1 51 61 417,781 $ 6,716,205 $ 115,951 $ 44,327 $ 34,817 $ 195,095 $ 6,911,300 September 26, 2021 Current 31-60 Days 61-90 Days Greater than Total Total Retail finance receivables $ 6,561,412 $ 101,157 $ 35,273 $ 30,114 $ 166,544 $ 6,727,956 Wholesale finance receivables 490,974 46 92 24 162 491,136 $ 7,052,386 $ 101,203 $ 35,365 $ 30,138 $ 166,706 $ 7,219,092

Derivative Financial Instrume_2

Derivative Financial Instruments and Hedging Activities (Tables)	9 Months Ended
	Sep. 25, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instrument Fair Value	The notional and fair values of the Company's derivative financial instruments under ASC Topic 815 were as follows (in thousands): Derivative Financial Instruments September 25, 2022 December 31, 2021 September 26, 2021 Notional Assets (a) Liabilities (b) Notional Assets (a) Liabilities (b) Notional Assets (a) Liabilities (b) Foreign currency contracts $ 459,252 $ 29,975 $ 331 $ 562,262 $ 14,644 $ 1,388 $ 406,220 $ 10,174 $ 502 Commodity contracts 1,724 169 — 996 19 39 1,000 458 — Cross-currency swaps 1,367,460 — 149,479 1,367,460 35,071 — 1,367,460 47,989 — $ 1,828,436 $ 30,144 $ 149,810 $ 1,930,718 $ 49,734 $ 1,427 $ 1,774,680 $ 58,621 $ 502 Derivative Financial Instruments September 25, 2022 December 31, 2021 September 26, 2021 Notional Assets (a) Liabilities (b) Notional Assets (a) Liabilities (b) Notional Assets (a) Liabilities (b) Foreign currency contracts $ — $ — $ — $ 241,935 $ 1,299 $ 916 $ 135,381 $ 375 $ 162 Commodity contracts 8,197 27 919 10,631 641 18 9,920 739 30 Interest rate caps 1,183,178 3,857 — 504,526 360 — 608,222 112 — $ 1,191,375 $ 3,884 $ 919 $ 757,092 $ 2,300 $ 934 $ 753,523 $ 1,226 $ 192 (a) Includes $3.9 million of interest rate caps recorded in Other long-term assets as of September 25, 2022 with all remaining amounts recorded in Other current assets. (b) Includes $82.7 million of cross-currency swaps recorded in Other long-term liabilities as of September 25, 2022 with all remaining amounts recorded in Accrued liabilities .
Schedule of Gain/(Loss) on Derivative Cash Flow Hedges Reclassified From AOCI Into Income	The amounts of gains and losses related to the Company's derivative financial instruments designated as cash flow hedges were as follows (in thousands): Gain/(Loss) Gain/(Loss) Three months ended Nine months ended Three months ended Nine months ended September 25, September 26, September 25, September 26, September 25, September 26, September 25, September 26, Foreign currency contracts $ 26,657 $ 8,653 $ 54,429 $ 20,829 $ 15,202 $ (3,504) $ 30,484 $ (16,051) Commodity contracts 88 390 816 546 147 65 627 36 Cross-currency swaps (94,912) (40,741) (184,551) (90,633) (95,111) (33,600) (201,377) (77,775) Treasury rate lock contracts — — — — (90) (127) (335) (375) Interest rate swaps — — — 397 — — — (2,689) $ (68,167) $ (31,698) $ (129,306) $ (68,861) $ (79,852) $ (37,166) $ (170,601) $ (96,854) The location and amount of gains and losses recognized in income related to the Company's derivative financial instruments designated as cash flow hedges were as follows (in thousands): Motorcycles Selling, administrative & Interest expense Financial Services interest expense Three months ended September 25, 2022 Line item on the Consolidated statements of operations in which the effects of cash flow hedges are recorded $ 946,656 $ 265,841 $ 8,124 $ 60,740 Gain/(loss) reclassified from AOCL into income: Foreign currency contracts $ 15,202 $ — $ — $ — Commodity contracts $ 147 $ — $ — $ — Cross-currency swaps $ — $ (95,111) $ — $ — Treasury rate lock contracts $ — $ — $ (90) $ — Three months ended September 26, 2021 Line item on the Consolidated statements of operations in which the effects of cash flow hedges are recorded $ 850,193 $ 254,312 $ 7,779 $ 44,770 Gain/(loss) reclassified from AOCL into income: Foreign currency contracts $ (3,504) $ — $ — $ — Commodity contracts $ 65 $ — $ — $ — Cross-currency swaps $ — $ (33,600) $ — $ — Treasury rate lock contracts $ — $ — $ (91) $ (36) Motorcycles Selling, administrative & Interest expense Financial Services interest expense Nine months ended September 25, 2022 Line item on the Consolidated statements of operations in which the effects of cash flow hedges are recorded $ 2,721,913 $ 740,699 $ 23,555 $ 150,488 Gain/(loss) reclassified from AOCL into income: Foreign currency contracts $ 30,484 $ — $ — $ — Commodity contracts $ 627 $ — $ — $ — Cross-currency swaps $ — $ (201,377) $ — $ — Treasury rate lock contracts $ — $ — $ (272) $ (63) Nine months ended September 26, 2021 Line item on the Consolidated statements of operations in which the effects of cash flow hedges are recorded $ 2,586,264 $ 747,665 $ 23,209 $ 149,098 Gain/(loss) reclassified from AOCL into income: Foreign currency contracts $ (16,051) $ — $ — $ — Commodity contracts $ 36 $ — $ — $ — Cross-currency swaps $ — $ (77,775) $ — $ — Treasury rate lock contracts $ — $ — $ (272) $ (103) Interest rate swaps $ — $ — $ — $ (2,689)
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location	The amount of gains and losses recognized in income related to derivative financial instruments not designated as hedging instruments were as follows (in thousands). Gains and losses on foreign currency contracts and commodity contracts were recorded in Motorcycles cost of goods sold . Gains and losses on interest rate caps were recorded in Selling, administrative & engineering expense. Amount of Gain/(Loss) Three months ended Nine months ended September 25, September 26, September 25, September 26, Foreign currency contracts $ 3,061 $ 2,152 $ 9,348 $ (3,396) Commodity contracts (760) 102 472 1,528 Interest rate caps 1,997 (39) 2,015 65 $ 4,298 $ 2,215 $ 11,835 $ (1,803)

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 25, 2022
Leases [Abstract]
Schedule of Balance Sheet Information Related to Leases	Balance sheet information related to the Company's leases was as follows (in thousands): September 25, December 31, September 26, Lease assets $ 40,543 $ 49,625 $ 47,507 Accrued liabilities $ 15,366 $ 17,369 $ 18,468 Lease liabilities 23,836 29,904 26,017 $ 39,202 $ 47,273 $ 44,485
Schedule of Future Maturities of Lease Liabilities	Future maturities of the Company's operating lease liabilities as of September 25, 2022 were as follows (in thousands): 2022 $ 4,502 2023 14,351 2024 8,437 2025 6,121 2026 4,927 Thereafter 2,130 Future lease payments 40,468 Present value discount (1,266) Lease liabilities $ 39,202
Schedule of Other Lease Information	Other lease information surrounding the Company's operating leases was as follows (dollars in thousands): Three months ended Nine months ended September 25, September 26, September 25, September 26, Cash outflows for amounts included in the measurement of lease liabilities $ 5,391 $ 4,756 $ 14,985 $ 20,479 ROU assets obtained in exchange for lease obligations, net of modifications $ 1,980 $ 11,189 $ 8,333 $ 17,390 September 25, December 31, September 26, Weighted-average remaining lease term (in years) 3.43 3.86 3.36 Weighted-average discount rate 2.1 % 1.9 % 2.4 %

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 25, 2022
Debt Disclosure [Abstract]
Schedule of Short-term Debt	Debt with a contractual term less than 12 months is generally classified as short-term and consisted of the following (in thousands): September 25, December 31, September 26, Unsecured commercial paper $ 692,551 $ 751,286 $ 749,620
Schedule of Long-term Debt Instruments	Debt with a contractual term greater than 12 months is generally classified as long-term and consisted of the following (in thousands): September 25, December 31, September 26, Secured debt: Asset-backed Canadian commercial paper conduit facility $ 82,154 $ 85,054 $ 98,310 Asset-backed U.S. commercial paper conduit facility 489,074 272,589 242,254 Asset-backed securitization debt 2,416,075 1,634,753 1,961,571 Unamortized discounts and debt issuance costs (10,669) (7,611) (9,203) 2,976,634 1,984,785 2,292,932 Unsecured notes (at par value): Medium-term notes: Due in 2022, issued February 2019 4.05 % — 550,000 550,000 Due in 2022, issued June 2017 2.55 % — 400,000 400,000 Due in 2023, issued February 2018 3.35 % 350,000 350,000 350,000 Due in 2023, issued May 2020 (a) 4.94 % 632,586 737,302 756,763 Due in 2024, issued November 2019 (b) 3.14 % 583,926 680,586 698,550 Due in 2025, issued June 2020 3.35 % 700,000 700,000 700,000 Due in 2027, issued February 2022 3.05 % 500,000 — — Unamortized discounts and debt issuance costs (9,682) (9,228) (10,649) 2,756,830 3,408,660 3,444,664 September 25, December 31, September 26, Senior notes: Due in 2025, issued July 2015 3.50 % 450,000 450,000 450,000 Due in 2045, issued July 2015 4.625 % 300,000 300,000 300,000 Unamortized discounts and debt issuance costs (4,808) (5,332) (5,506) 745,192 744,668 744,494 3,502,022 4,153,328 4,189,158 Long-term debt 6,478,656 6,138,113 6,482,090 Current portion of long-term debt, net (1,740,422) (1,542,496) (1,605,798) Long-term debt, net $ 4,738,234 $ 4,595,617 $ 4,876,292 (a) €650.0 million par value remeasured to U.S. dollar at September 25, 2022, December 31, 2021, and September 26, 2021, respectively (b) €600.0 million par value remeasured to U.S. dollar at September 25, 2022, December 31, 2021, and September 26, 2021, respectively
Schedule of Maturities of Long-term Debt	Future principal payments of the Company's debt obligations as of September 25, 2022 were as follows (in thousands): 2022 $ 978,288 2023 1,701,700 2024 1,257,491 2025 1,866,611 2026 521,545 Thereafter 870,731 Future principal payments 7,196,366 Unamortized discounts and debt issuance costs (25,159) $ 7,171,207

Asset-Backed Financing (Tables)

Asset-Backed Financing (Tables)	9 Months Ended
	Sep. 25, 2022
Transfers and Servicing [Abstract]
Schedule of Assets and Liabilities Related to the On-Balance Sheet Financing	The assets and liabilities related to the on-balance sheet asset-backed financings included in the Consolidated balance sheets were as follows (in thousands): September 25, 2022 Finance receivables Allowance for credit losses Restricted cash Other assets Total assets Asset-backed debt, net On-balance sheet assets and liabilities: Consolidated VIEs: Asset-backed securitizations $ 3,003,578 $ (150,672) $ 170,297 $ 8,274 $ 3,031,477 $ 2,405,406 Asset-backed U.S. commercial paper conduit facility 540,751 (27,114) 35,581 1,308 550,526 489,074 Unconsolidated VIEs: Asset-backed Canadian commercial paper conduit facility 93,781 (3,874) 6,162 168 96,237 82,154 $ 3,638,110 $ (181,660) $ 212,040 $ 9,750 $ 3,678,240 $ 2,976,634 December 31, 2021 Finance receivables Allowance for credit losses Restricted cash Other assets Total assets Asset-backed debt, net On-balance sheet assets and liabilities: Consolidated VIEs: Asset-backed securitizations $ 2,048,194 $ (102,779) $ 123,717 $ 2,328 $ 2,071,460 $ 1,627,142 Asset-backed U.S. commercial paper conduit facility 297,454 (14,898) 20,567 654 303,777 272,589 Unconsolidated VIEs: Asset-backed Canadian commercial paper conduit facility 97,180 (3,990) 6,191 139 99,520 85,054 $ 2,442,828 $ (121,667) $ 150,475 $ 3,121 $ 2,474,757 $ 1,984,785 September 26, 2021 Finance receivables Allowance for credit losses Restricted cash Other assets Total assets Asset-backed debt, net On-balance sheet assets and liabilities: Consolidated VIEs: Asset-backed securitizations $ 2,362,454 $ (119,975) $ 148,177 $ 2,228 $ 2,392,884 $ 1,952,368 Asset-backed U.S. commercial paper conduit facility 264,226 (13,396) 19,688 526 271,044 242,254 Unconsolidated VIEs: Asset-backed Canadian commercial paper conduit facility 112,374 (4,729) 7,408 157 115,210 98,310 $ 2,739,054 $ (138,100) $ 175,273 $ 2,911 $ 2,779,138 $ 2,292,932
Transfer of Financial Assets Accounted for as Sales	Quarterly transfers of U.S. retail motorcycle finance receivables to SPEs, the respective proceeds, and the respective proceeds, net of discounts and issuance costs were as follows (in millions): 2022 2021 Transfers Proceeds Proceeds, net Transfers Proceeds Proceeds, net First quarter $ — $ — $ — $ 663.1 $ 600.0 $ 597.4 Second quarter 2,176.4 1,836.3 1,826.9 — — — Third quarter — — $ — 635.5 575.0 572.5 $ 2,176.4 $ 1,836.3 $ 1,826.9 $ 1,298.6 $ 1,175.0 $ 1,169.9 Quarterly transfers of Canadian retail motorcycle finance receivables to the Canadian Conduit and the respective proceeds were as follows (in millions): 2022 2021 Transfers Proceeds Transfers Proceeds First quarter $ 25.3 $ 21.2 $ — $ — Second quarter — — — — Third quarter 27.8 23.0 32.8 27.4 $ 53.1 $ 44.2 $ 32.8 $ 27.4

Fair Value (Tables)

Fair Value (Tables)	9 Months Ended
	Sep. 25, 2022
Fair Value Disclosures [Abstract]
Schedule of Summary of Assets and Liabilities Measured At Fair Value On A Recurring Basis	Recurring Fair Value Measurements – The Company’s assets and liabilities measured at fair value on a recurring basis were as follows (in thousands): September 25, 2022 Balance Level 1 Level 2 Assets: Cash equivalents $ 1,324,705 $ 1,057,000 $ 267,705 Marketable securities 33,631 33,631 — Derivative financial instruments 34,028 — 34,028 $ 1,392,364 $ 1,090,631 $ 301,733 Liabilities: Derivative financial instruments $ 150,729 $ — $ 150,729 December 31, 2021 Balance Level 1 Level 2 Assets: Cash equivalents $ 1,617,887 $ 1,337,900 $ 279,987 Marketable securities 49,650 49,650 — Derivative financial instruments 52,034 — 52,034 $ 1,719,571 $ 1,387,550 $ 332,021 Liabilities: Derivative financial instruments $ 2,361 $ — $ 2,361 September 26, 2021 Balance Level 1 Level 2 Assets: Cash equivalents $ 1,753,398 $ 1,503,400 $ 249,998 Marketable securities 48,766 48,766 — Derivative financial instruments 59,847 — 59,847 $ 1,862,011 $ 1,552,166 $ 309,845 Liabilities: Derivative financial instruments $ 694 $ — $ 694
Schedule of Summary of The Fair Value and Carrying Value of The Company's Financial Instruments	The fair value and carrying value of the Company’s remaining financial instruments that are measured at cost or amortized cost were as follows (in thousands): September 25, 2022 December 31, 2021 September 26, 2021 Fair Value Carrying Value Fair Value Carrying Value Fair Value Carrying Value Assets: Finance receivables, net $ 7,555,135 $ 7,342,448 $ 6,794,499 $ 6,571,921 $ 7,117,828 $ 6,863,258 Liabilities: Deposits, net $ 369,429 $ 344,735 $ 293,602 $ 290,326 $ 292,284 $ 290,270 Debt: Unsecured commercial paper $ 692,551 $ 692,551 $ 751,286 $ 751,286 $ 749,620 $ 749,620 Asset-backed U.S. commercial paper conduit facility $ 489,074 $ 489,074 $ 272,589 $ 272,589 $ 242,254 $ 242,254 Asset-backed Canadian commercial paper conduit facility $ 82,154 $ 82,154 $ 85,054 $ 85,054 $ 98,310 $ 98,310 Asset-backed securitization debt $ 2,385,056 $ 2,405,406 $ 1,633,749 $ 1,627,142 $ 1,967,893 $ 1,952,368 Medium-term notes $ 2,612,372 $ 2,756,830 $ 3,513,815 $ 3,408,660 $ 3,583,411 $ 3,444,664 Senior notes $ 637,494 $ 745,192 $ 790,373 $ 744,668 $ 798,518 $ 744,494

Product Warranty and Recall C_2

Product Warranty and Recall Campaigns (Tables)	9 Months Ended
	Sep. 25, 2022
Product Warranties Disclosures [Abstract]
Schedule of Warranty and Recall Liability	Changes in the Company’s warranty and recall liabilities were as follows (in thousands): Three months ended Nine months ended September 25, September 26, September 25, September 26, Balance, beginning of period $ 61,727 $ 73,626 $ 61,621 $ 69,208 Warranties issued during the period 11,094 9,516 31,522 34,006 Settlements made during the period (12,099) (10,860) (29,228) (29,823) Recalls and changes to pre-existing warranty liabilities 17,181 (569) 13,988 (1,678) Balance, end of period $ 77,903 $ 71,713 $ 77,903 $ 71,713

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	9 Months Ended
	Sep. 25, 2022
Retirement Benefits [Abstract]
Schedule of Components of Net Periodic Benefit Costs	Components of net periodic benefit (income) cost for the Company's defined benefit plans were as follows (in thousands): Three months ended Nine months ended September 25, September 26, September 25, September 26, Pension and SERPA Benefits: Service cost $ 4,763 $ 6,348 $ 14,289 $ 19,044 Interest cost 15,473 15,472 46,418 46,412 Expected return on plan assets (31,476) (32,720) (94,428) (98,160) Amortization of unrecognized: Prior service credit (328) (312) (984) (936) Net loss 7,978 18,386 23,934 55,158 Settlement (gain) loss — — (256) 816 Net periodic benefit (income) cost $ (3,590) $ 7,174 $ (11,027) $ 22,334 Postretirement Healthcare Benefits: Service cost $ 1,161 $ 1,288 $ 3,482 $ 3,864 Interest cost 1,904 1,626 5,712 4,878 Expected return on plan assets (3,809) (3,495) (11,427) (10,485) Amortization of unrecognized: Prior service credit (581) (581) (1,743) (1,743) Net loss 122 264 366 792 Net periodic benefit income $ (1,203) $ (898) $ (3,610) $ (2,694)

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 25, 2022
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Loss	Changes in Accumulated other comprehensive loss were as follows (in thousands): Three months ended September 25, 2022 Foreign currency translation adjustments Derivative financial instruments Pension and postretirement benefit plans Total Balance, beginning of period $ (79,543) $ 20,775 $ (183,508) $ (242,276) Other comprehensive loss, before reclassifications (47,333) (68,167) — (115,500) Income tax benefit 1,088 14,803 — 15,891 (46,245) (53,364) — (99,609) Reclassifications: Net loss on derivative financial instruments — 79,852 — 79,852 Prior service credits (a) — — (909) (909) Actuarial losses (a) — — 8,100 8,100 Reclassifications before tax — 79,852 7,191 87,043 Income tax expense — (17,457) (1,688) (19,145) — 62,395 5,503 67,898 Other comprehensive (loss) income (46,245) 9,031 5,503 (31,711) Balance, end of period $ (125,788) $ 29,806 $ (178,005) $ (273,987) Three months ended September 26, 2021 Foreign currency translation adjustments Derivative financial instruments Pension and postretirement benefit plans Total Balance, beginning of period $ (23,512) $ (29,088) $ (402,537) $ (455,137) Other comprehensive loss, before reclassifications (18,296) (31,698) — (49,994) Income tax benefit 460 6,928 — 7,388 (17,836) (24,770) — (42,606) Reclassifications: Net loss on derivative financial instruments — 37,166 — 37,166 Prior service credits (a) — — (893) (893) Actuarial losses (a) — — 18,650 18,650 Reclassifications before tax — 37,166 17,757 54,923 Income tax expense — (8,126) (4,169) (12,295) — 29,040 13,588 42,628 Other comprehensive (loss) income (17,836) 4,270 13,588 22 Balance, end of period $ (41,348) $ (24,818) $ (388,949) $ (455,115) Nine months ended September 25, 2022 Foreign currency translation adjustments Derivative financial instruments Pension and postretirement benefit plans Total Balance, beginning of period $ (44,401) $ (2,005) $ (194,513) $ (240,919) Other comprehensive loss, before reclassifications (82,737) (129,306) — (212,043) Income tax benefit 1,350 28,025 — 29,375 (81,387) (101,281) — (182,668) Reclassifications: Net loss on derivative financial instruments — 170,601 — 170,601 Prior service credits (a) — — (2,727) (2,727) Actuarial losses (a) — — 24,300 24,300 Reclassifications before tax — 170,601 21,573 192,174 Income tax expense — (37,509) (5,065) (42,574) — 133,092 16,508 149,600 Other comprehensive (loss) income (81,387) 31,811 16,508 (33,068) Balance, end of period $ (125,788) $ 29,806 $ (178,005) $ (273,987) Nine months ended September 26, 2021 Foreign currency translation adjustments Derivative financial instruments Pension and postretirement benefit plans Total Balance, beginning of period $ (7,589) $ (46,116) $ (429,712) $ (483,417) Other comprehensive loss, before reclassifications (33,648) (68,861) — (102,509) Income tax (expense) benefit (111) 15,026 — 14,915 (33,759) (53,835) — (87,594) Reclassifications: Net loss on derivative financial instruments — 96,854 — 96,854 Prior service credits (a) — — (2,679) (2,679) Actuarial losses (a) — — 55,950 55,950 Reclassifications before tax — 96,854 53,271 150,125 Income tax expense — (21,721) (12,508) (34,229) — 75,133 40,763 115,896 Other comprehensive (loss) income (33,759) 21,298 40,763 28,302 Balance, end of period $ (41,348) $ (24,818) $ (388,949) $ (455,115) (a) Amounts reclassified are included in the computation of net periodic benefit (income) cost, discussed further in Note 15

Reportable Segments (Tables)

Reportable Segments (Tables)	9 Months Ended
	Sep. 25, 2022
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Selected segment information is set forth below (in thousands): Three months ended Nine months ended September 25, September 26, September 25, September 26, Motorcycles and Related Products: Motorcycles revenue $ 1,436,962 $ 1,160,618 $ 4,006,604 $ 3,724,225 Gross profit 490,306 310,425 1,284,691 1,137,961 Selling, administrative and engineering expense 232,541 212,243 632,756 626,211 Restructuring expense (benefit) 3 517 (389) 731 Operating income 257,762 97,665 652,324 511,019 Financial Services: Financial Services revenue 211,613 204,692 606,244 595,650 Financial Services expense 130,657 98,047 353,003 275,487 Restructuring expense — 98 — 436 Operating income 80,956 106,547 253,241 319,727 Operating income $ 338,718 $ 204,212 $ 905,565 $ 830,746

Supplemental Consolidating Da_2

Supplemental Consolidating Data (Tables)	9 Months Ended
	Sep. 25, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Operations	Supplemental consolidating data is as follows (in thousands): Three months ended September 25, 2022 Harley-Davidson Motor Company Harley-Davidson Financial Services Consolidating Adjustments Consolidated Revenue: Motorcycles and Related Products $ 1,439,894 $ — $ (2,932) $ 1,436,962 Financial Services — 212,100 (487) 211,613 1,439,894 212,100 (3,419) 1,648,575 Costs and expenses: Motorcycles and Related Products cost of goods sold 946,656 — — 946,656 Financial Services interest expense — 60,740 — 60,740 Financial Services provision for credit losses — 36,617 — 36,617 Selling, administrative and engineering expense 233,151 36,231 (3,541) 265,841 Restructuring expense 3 — — 3 1,179,810 133,588 (3,541) 1,309,857 Operating income 260,084 78,512 122 338,718 Other income, net 9,358 — — 9,358 Investment income 201,723 — (200,000) 1,723 Interest expense 8,124 — — 8,124 Income before income taxes 463,041 78,512 (199,878) 341,675 Provision for income taxes 61,390 19,099 — 80,489 Net income $ 401,651 $ 59,413 $ (199,878) $ 261,186 Nine months ended September 25, 2022 Harley-Davidson Motor Company Harley-Davidson Financial Services Consolidating Adjustments Consolidated Revenue: Motorcycles and Related Products $ 4,015,779 $ — $ (9,175) $ 4,006,604 Financial Services — 607,876 (1,632) 606,244 4,015,779 607,876 (10,807) 4,612,848 Costs and expenses: Motorcycles and Related Products cost of goods sold 2,721,913 — — 2,721,913 Financial Services interest expense — 150,488 — 150,488 Financial Services provision for credit losses — 94,572 — 94,572 Selling, administrative and engineering expense 634,506 117,117 (10,924) 740,699 Restructuring benefit (389) — — (389) 3,356,030 362,177 (10,924) 3,707,283 Operating income 659,749 245,699 117 905,565 Other income, net 30,443 — — 30,443 Investment (income) loss 196,214 — (200,000) (3,786) Interest expense 23,555 — — 23,555 Income before income taxes 862,851 245,699 (199,883) 908,667 Provision for income taxes 150,231 58,899 — 209,130 Net income $ 712,620 $ 186,800 $ (199,883) $ 699,537 Three months ended September 26, 2021 Harley-Davidson Motor Company Harley-Davidson Financial Services Consolidating Adjustments Consolidated Revenue: Motorcycles and Related Products $ 1,167,432 $ — $ (6,814) $ 1,160,618 Financial Services — 202,080 2,612 204,692 1,167,432 202,080 (4,202) 1,365,310 Costs and expenses: Motorcycles and Related Products cost of goods sold 850,193 — — 850,193 Financial Services interest expense — 44,770 — 44,770 Financial Services provision for credit losses — 11,208 — 11,208 Selling, administrative and engineering expense 216,030 42,686 (4,404) 254,312 Restructuring expense 517 98 — 615 1,066,740 98,762 (4,404) 1,161,098 Operating income 100,692 103,318 202 204,212 Other income, net 858 — — 858 Investment income 120,198 — (120,000) 198 Interest expense 7,779 — — 7,779 Income before income taxes 213,969 103,318 (119,798) 197,489 Provision for income taxes 7,408 27,108 — 34,516 Net income $ 206,561 $ 76,210 $ (119,798) $ 162,973 Nine months ended September 26, 2021 Harley-Davidson Motor Company Harley-Davidson Financial Services Consolidating Adjustments Consolidated Revenue: Motorcycles and Related Products $ 3,742,869 $ — $ (18,644) $ 3,724,225 Financial Services — 590,468 5,182 595,650 3,742,869 590,468 (13,462) 4,319,875 Costs and expenses: Motorcycles and Related Products cost of goods sold 2,586,264 — — 2,586,264 Financial Services interest expense — 149,098 — 149,098 Financial Services provision for credit losses — 4,935 — 4,935 Selling, administrative and engineering expense 635,902 125,053 (13,290) 747,665 Restructuring expense 731 436 — 1,167 3,222,897 279,522 (13,290) 3,489,129 Operating income 519,972 310,946 (172) 830,746 Other income, net 1,825 — — 1,825 Investment income 244,331 — (240,000) 4,331 Interest expense 23,209 — — 23,209 Income before income taxes 742,919 310,946 (240,172) 813,693 Provision for income taxes 112,974 72,262 — 185,236 Net income $ 629,945 $ 238,684 $ (240,172) $ 628,457
Balance Sheet	September 25, 2022 Harley-Davidson Motor Company Harley-Davidson Financial Services Consolidating Adjustments Consolidated ASSETS Current assets: Cash and cash equivalents $ 926,389 $ 803,861 $ — $ 1,730,250 Accounts receivable, net 695,899 — (395,445) 300,454 Finance receivables, net — 1,807,718 — 1,807,718 Inventories, net 680,762 — — 680,762 Restricted cash 100,000 187,264 — 287,264 Other current assets 167,999 54,251 (16,516) 205,734 2,571,049 2,853,094 (411,961) 5,012,182 Finance receivables, net — 5,534,730 — 5,534,730 Property, plant and equipment, net 616,382 25,269 — 641,651 Pension and postretirement assets 424,784 — — 424,784 Goodwill 60,440 — — 60,440 Deferred income taxes 15,806 79,162 (25,234) 69,734 Lease assets 34,230 6,313 — 40,543 Other long-term assets 206,409 43,368 (106,230) 143,547 $ 3,929,100 $ 8,541,936 $ (543,425) $ 11,927,611 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable $ 414,448 $ 419,531 $ (395,445) $ 438,534 Accrued liabilities 532,808 193,328 (15,592) 710,544 Short-term deposits, net — 97,856 — 97,856 Short-term debt — 692,551 — 692,551 Current portion of long-term debt, net — 1,740,422 — 1,740,422 947,256 3,143,688 (411,037) 3,679,907 Long-term deposits, net — 246,879 — 246,879 Long-term debt, net 745,192 3,993,042 — 4,738,234 Lease liabilities 17,524 6,312 — 23,836 Pension and postretirement liabilities 92,953 — — 92,953 Deferred income taxes 32,199 582 (24,469) 8,312 Other long-term liabilities 157,112 138,027 2,141 297,280 Commitments and contingencies (Note 16) Shareholders’ equity 1,936,864 1,013,406 (110,060) 2,840,210 $ 3,929,100 $ 8,541,936 $ (543,425) $ 11,927,611 September 26, 2021 Harley-Davidson Motor Company Harley-Davidson Financial Services Consolidating Adjustments Consolidated ASSETS Current assets: Cash and cash equivalents $ 1,115,014 $ 946,289 $ — $ 2,061,303 Accounts receivable, net 590,806 — (308,179) 282,627 Finance receivables, net — 1,540,822 — 1,540,822 Inventories, net 475,314 — — 475,314 Restricted cash — 153,873 — 153,873 Other current assets 114,221 94,868 (14,608) 194,481 2,295,355 2,735,852 (322,787) 4,708,420 Finance receivables, net — 5,322,436 — 5,322,436 Property, plant and equipment, net 642,253 29,583 — 671,836 Pension and postretirement assets 132,958 — — 132,958 Goodwill 63,841 — — 63,841 Deferred income taxes 43,097 86,011 (1,049) 128,059 Lease assets 40,163 7,344 — 47,507 Other long-term assets 191,126 37,370 (103,749) 124,747 $ 3,408,793 $ 8,218,596 $ (427,585) $ 11,199,804 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable $ 361,057 $ 329,338 $ (308,179) $ 382,216 Accrued liabilities 489,988 123,642 (13,778) 599,852 Short-term deposits, net — 92,626 — 92,626 Short-term debt — 749,620 — 749,620 Current portion of long-term debt, net — 1,605,798 — 1,605,798 851,045 2,901,024 (321,957) 3,430,112 Long-term deposits, net — 197,644 — 197,644 Long-term debt, net 744,494 4,131,798 — 4,876,292 Lease liabilities 19,457 6,560 — 26,017 Pension and postretirement liabilities 103,144 — — 103,144 Deferred income taxes 7,166 1,419 — 8,585 Other long-term liabilities 173,178 48,586 2,352 224,116 Commitments and contingencies (Note 16) Shareholders’ equity 1,510,309 931,565 (107,980) 2,333,894 $ 3,408,793 $ 8,218,596 $ (427,585) $ 11,199,804
Cash Flows	Nine months ended September 25, 2022 Harley-Davidson Motor Company Harley-Davidson Financial Services Consolidating Adjustments Consolidated Cash flows from operating activities: Net income $ 712,620 $ 186,800 $ (199,883) $ 699,537 Adjustments to reconcile Net income to Net cash provided by operating activities: Depreciation and amortization 108,485 6,382 — 114,867 Amortization of deferred loan origination costs — 72,214 — 72,214 Amortization of financing origination fees 524 10,951 — 11,475 Provision for long-term employee benefits (14,637) — — (14,637) Employee benefit plan contributions and payments (4,766) — — (4,766) Stock compensation expense 31,418 2,177 — 33,595 Net change in wholesale finance receivables related to sales — — (294,698) (294,698) Provision for credit losses — 94,572 — 94,572 Deferred income taxes 1,981 (4,681) (280) (2,980) Other, net 20,190 4,318 (116) 24,392 Changes in current assets and liabilities: Accounts receivable, net (443,645) — 292,919 (150,726) Finance receivables – accrued interest and other — 3,566 — 3,566 Inventories, net (6,577) — — (6,577) Accounts payable and accrued liabilities 22,075 321,594 (305,924) 37,745 Other current assets (58,774) 2,615 13,284 (42,875) (343,726) 513,708 (294,815) (124,833) Net cash provided by operating activities 368,894 700,508 (494,698) 574,704 Cash flows from investing activities: Capital expenditures (82,153) (2,794) — (84,947) Origination of finance receivables — (6,642,296) 2,868,466 (3,773,830) Collections on finance receivables — 5,684,649 (2,573,768) 3,110,881 Other investing activities 2,160 — — 2,160 Net cash used by investing activities (79,993) (960,441) 294,698 (745,736) Nine months ended September 25, 2022 Harley-Davidson Motor Company Harley-Davidson Financial Services Consolidating Adjustments Consolidated Cash flows from financing activities: Proceeds from issuance of medium-term notes — 495,785 — 495,785 Repayments of medium-term notes — (950,000) — (950,000) Proceeds from securitization debt — 1,826,891 — 1,826,891 Repayments of securitization debt — (1,054,939) — (1,054,939) Borrowings of asset-backed commercial paper — 448,255 — 448,255 Repayments of asset-backed commercial paper — (228,431) — (228,431) Net decrease in unsecured commercial paper — (60,281) — (60,281) Net increase in deposits — 54,080 — 54,080 Deposit in advance of business combination 100,000 — — 100,000 Dividends paid (70,163) (200,000) 200,000 (70,163) Repurchase of common stock (338,496) — — (338,496) Other financing activities (1,237) — — (1,237) Net cash (used) provided by financing activities (309,896) 331,360 200,000 221,464 Effect of exchange rate changes on cash, cash equivalents and restricted cash (30,821) (2,540) — (33,361) Net (decrease) increase in cash, cash equivalents and restricted cash $ (51,816) $ 68,887 $ — $ 17,071 Cash, cash equivalents and restricted cash: Cash, cash equivalents and restricted cash, beginning of period $ 1,078,205 $ 947,014 $ — $ 2,025,219 Net (decrease) increase in cash, cash equivalents and restricted cash (51,816) 68,887 — 17,071 Cash, cash equivalents and restricted cash, end of period $ 1,026,389 $ 1,015,901 $ — $ 2,042,290 Nine months ended September 26, 2021 Harley-Davidson Motor Company Harley-Davidson Financial Services Consolidating Adjustments Consolidated Cash flows from operating activities: Net income $ 629,945 $ 238,684 $ (240,172) $ 628,457 Adjustments to reconcile Net income to Net cash provided by operating activities: Depreciation and amortization 115,779 6,704 — 122,483 Amortization of deferred loan origination costs — 63,265 — 63,265 Amortization of financing origination fees 517 9,909 — 10,426 Provision for long-term employee benefits 19,640 — — 19,640 Employee benefit plan contributions and payments (14,677) — — (14,677) Stock compensation expense 31,089 2,943 — 34,032 Net change in wholesale finance receivables related to sales — — (22,031) (22,031) Provision for credit losses — 4,935 — 4,935 Deferred income taxes 4,710 6,028 (112) 10,626 Other, net 3,320 (1,397) 171 2,094 Changes in current assets and liabilities: Accounts receivable, net (379,821) — 231,151 (148,670) Finance receivables – accrued interest and other — 11,088 — 11,088 Inventories, net 31,874 — — 31,874 Accounts payable and accrued liabilities 162,088 247,740 (241,522) 168,306 Other current assets (11,127) 3,952 10,878 3,703 (36,608) 355,167 (21,465) 297,094 Net cash provided by operating activities 593,337 593,851 (261,637) 925,551 Cash flows from investing activities: Capital expenditures (59,128) (2,348) — (61,476) Origination of finance receivables — (6,157,658) 2,712,705 (3,444,953) Collections on finance receivables — 5,659,465 (2,691,068) 2,968,397 Other investing activities 2,485 — — 2,485 Net cash used by investing activities (56,643) (500,541) 21,637 (535,547) Nine months ended September 26, 2021 Harley-Davidson Motor Company Harley-Davidson Financial Services Consolidating Adjustments Consolidated Cash flows from financing activities: Repayments of medium-term notes — (1,400,000) — (1,400,000) Proceeds from securitization debt — 1,169,910 — 1,169,910 Repayments of securitization debt — (1,013,820) — (1,013,820) Borrowings of asset-backed commercial paper — 27,406 — 27,406 Repayments of asset-backed commercial paper — (206,671) — (206,671) Net decrease in unsecured commercial paper — (261,978) — (261,978) Net increase in deposits — 210,144 — 210,144 Dividends paid (69,316) (240,000) 240,000 (69,316) Repurchase of common stock (11,545) — — (11,545) Other financing activities 4,324 — — 4,324 Net cash used by financing activities (76,537) (1,715,009) 240,000 (1,551,546) Effect of exchange rate changes on cash, cash equivalents and restricted cash (11,304) 254 — (11,050) Net increase (decrease) in cash, cash equivalents and restricted cash $ 448,853 $ (1,621,445) $ — $ (1,172,592) Cash, cash equivalents and restricted cash: Cash, cash equivalents and restricted cash, beginning of period $ 666,161 $ 2,743,007 $ — $ 3,409,168 Net increase (decrease) in cash, cash equivalents and restricted cash 448,853 (1,621,445) — (1,172,592) Cash, cash equivalents and restricted cash, end of period $ 1,115,014 $ 1,121,562 $ — $ 2,236,576

Basis of Presentation and Use_3

Basis of Presentation and Use of Estimates (Details)	9 Months Ended
	Sep. 25, 2022 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	2

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 25, 2022	Sep. 26, 2021	Sep. 25, 2022	Sep. 26, 2021
Disaggregation of Revenue
Motorcycles revenue	$ 1,436,962	$ 1,160,618	$ 4,006,604	$ 3,724,225
Financial Services	211,613	204,692	606,244	595,650
Total revenue	1,648,575	1,365,310	4,612,848	4,319,875
Motorcycles
Disaggregation of Revenue
Motorcycles revenue	1,133,558	885,626	3,132,717	2,931,669
Parts and accessories
Disaggregation of Revenue
Motorcycles revenue	201,003	204,506	581,068	577,035
Apparel
Disaggregation of Revenue
Motorcycles revenue	69,834	49,424	198,568	155,378
Licensing
Disaggregation of Revenue
Motorcycles revenue	10,662	8,481	28,940	22,865
Other
Disaggregation of Revenue
Motorcycles revenue	21,905	12,581	65,311	37,278
Interest income
Disaggregation of Revenue
Financial Services	179,261	174,103	509,702	501,645
Other
Disaggregation of Revenue
Financial Services	$ 32,352	$ 30,589	$ 96,542	$ 94,005

Revenue - Contract Liabilities

Revenue - Contract Liabilities (Details) - USD ($) $ in Thousands	Sep. 25, 2022	Dec. 31, 2021	Sep. 26, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction
Balance, beginning of period	$ 40,092	$ 38,682	$ 36,614
Balance, end of period	$ 45,746	$ 40,092	$ 38,682

Revenue - Additional Informatio

Revenue - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 25, 2022	Sep. 26, 2021	Sep. 25, 2022	Sep. 26, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Recognized deferred revenue	$ 7	$ 6.1	$ 22.4	$ 17.9
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-09-26
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unearned revenue to be recognized	$ 18.2		$ 18.2
Revenue, remaining performance obligation period	12 months		12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-09-26
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unearned revenue to be recognized	$ 27.6		$ 27.6
Revenue, remaining performance obligation period

Restructuring Activities - Addi

Restructuring Activities - Additional Information (Details) $ in Millions	Sep. 25, 2022 USD ($) employee
Motorcycles and Related Products
Restructuring Cost and Reserve
Restructuring and consolidation costs	$ 121.5
Financial Services
Restructuring Cost and Reserve
Restructuring and consolidation costs	$ 11.5
2020 Restructuring Activities
Restructuring Cost and Reserve
Expected number of employees eliminated | employee	500
Restructuring and consolidation costs	$ 133
2020 Restructuring Activities | India
Restructuring Cost and Reserve
Expected number of employees eliminated | employee	70

Restructuring Activities - Rest

Restructuring Activities - Restructuring Expenses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 25, 2022	Sep. 26, 2021	Sep. 25, 2022	Sep. 26, 2021
Restructuring Cost and Reserve
Restructuring expense (benefit)	$ 3	$ 615	$ (389)	$ 1,167
Motorcycles and Related Products
Restructuring Cost and Reserve
Restructuring expense (benefit)	3	517	(389)	731
Financial Services
Restructuring Cost and Reserve
Restructuring expense (benefit)	$ 0	$ 98	$ 0	$ 436

Restructuring Activities - Re_2

Restructuring Activities - Restructuring Plan Reserve Recorded in Accrued Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 25, 2022	Sep. 26, 2021	Sep. 25, 2022	Sep. 26, 2021
Restructuring Reserve
Balance, beginning of period	$ 823	$ 3,330	$ 2,995	$ 23,920
Restructuring expense (benefit)	3	615	(389)	1,167
Utilized – cash	(240)	(1,594)	(2,004)	(22,730)
Utilized – non cash	0	27	0	278
Foreign currency changes	(9)	(28)	(25)	(285)
Balance, end of period	577	2,350	577	2,350
Employee Termination Benefits
Restructuring Reserve
Balance, beginning of period	79	1,246	121	7,724
Restructuring expense (benefit)	0	(165)	0	(1,131)
Utilized – cash	(19)	(397)	(55)	(5,743)
Utilized – non cash	0	0	0	0
Foreign currency changes	(4)	(7)	(10)	(173)
Balance, end of period	56	677	56	677
Contract Terminations & Other
Restructuring Reserve
Balance, beginning of period	744	2,084	2,874	16,196
Restructuring expense (benefit)	3	807	(389)	2,576
Utilized – cash	(221)	(1,197)	(1,949)	(16,987)
Utilized – non cash	0	0	0	0
Foreign currency changes	(5)	(21)	(15)	(112)
Balance, end of period	521	1,673	521	1,673
Non-Current Asset Adjustments
Restructuring Reserve
Balance, beginning of period	0	0	0	0
Restructuring expense (benefit)	0	(27)	0	(278)
Utilized – cash	0	0	0	0
Utilized – non cash	0	27	0	278
Foreign currency changes	0	0	0	0
Balance, end of period	$ 0	$ 0	$ 0	$ 0

Income Taxes (Details)

Income Taxes (Details)	9 Months Ended
	Sep. 25, 2022	Sep. 26, 2021
Income Tax Disclosure [Abstract]
Income tax rate	23%	22.80%

Earnings Per Share - Reconcilia

Earnings Per Share - Reconciliation Of Earnings Per Share Basic And Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 25, 2022	Jun. 26, 2022	Mar. 27, 2022	Sep. 26, 2021	Jun. 27, 2021	Mar. 28, 2021	Sep. 25, 2022	Sep. 26, 2021
Numerator:
Net income	$ 261,186	$ 215,849	$ 222,502	$ 162,973	$ 206,340	$ 259,144	$ 699,537	$ 628,457
Weighted Average Number of Shares Outstanding Reconciliation
Basic weighted-average shares outstanding (in shares)	146,217			153,863			148,673	153,700
Effect of dilutive securities - employee stock compensation plan (in shares)	856			1,254			862	1,203
Diluted weighted-average shares outstanding (in shares)	147,073			155,117			149,535	154,903
Net earnings per share:
Basic (in dollars per share)	$ 1.79			$ 1.06			$ 4.71	$ 4.09
Diluted (in dollars per share)	$ 1.78			$ 1.05			$ 4.68	$ 4.06

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 25, 2022	Sep. 26, 2021	Sep. 25, 2022	Sep. 26, 2021
Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share
Shares considered anti-dilutive and excluded from computation	3.9	0.5	2.3	0.5

Additional Balance Sheet and _3

Additional Balance Sheet and Cash Flow Information - Marketable Securities (Details) - USD ($) $ in Thousands	Sep. 25, 2022	Dec. 31, 2021	Sep. 26, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Mutual funds	$ 33,631	$ 49,650	$ 48,766

Additional Balance Sheet and _4

Additional Balance Sheet and Cash Flow Information - Inventories, Net (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 25, 2022	Sep. 25, 2022	Sep. 26, 2021	Dec. 31, 2021
Inventory
Raw materials and work in process	$ 311,424	$ 311,424	$ 279,699	$ 347,915
Inventory at lower of FIFO cost or net realizable value	776,343	776,343	544,991	797,062
Excess of FIFO over LIFO cost	(95,581)	(95,581)	(69,677)	(84,120)
Total inventories, net	680,762	680,762	475,314	712,942
Deposits in advance of business combination		100,000	0
Certificates of Deposit
Inventory
Deposits	344,700	344,700	290,300	290,300
KYMCO
Inventory
Deposits in advance of business combination	100,000
Motorcycle finished goods
Inventory
Inventory, finished goods, net of inventory valuation adjustment	304,195	304,195	178,315	345,956
Parts and accessories and apparel
Inventory
Inventory, finished goods, net of inventory valuation adjustment	$ 160,724	$ 160,724	$ 86,977	$ 103,191

Additional Balance Sheet and _5

Additional Balance Sheet and Cash Flow Information - Certificates of Deposit (Details) $ in Thousands	Sep. 25, 2022 USD ($)
Fiscal Year
2022	$ 27,475
2023	80,106
2024	80,378
2025	24,006
2026	79,742
Thereafter	54,158
Future maturities	345,865
Unamortized fees	(1,130)
Total	$ 344,735

Additional Balance Sheet and _6

Additional Balance Sheet and Cash Flow Information - Reconciliation Of Net Income To Net Cash Used By Operating Activities (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 25, 2022	Jun. 26, 2022	Mar. 27, 2022	Sep. 26, 2021	Jun. 27, 2021	Mar. 28, 2021	Sep. 25, 2022	Sep. 26, 2021
Cash flows from operating activities:
Net income	$ 261,186	$ 215,849	$ 222,502	$ 162,973	$ 206,340	$ 259,144	$ 699,537	$ 628,457
Adjustments to reconcile Net income to Net cash provided by operating activities:
Depreciation and amortization							114,867	122,483
Amortization of deferred loan origination costs							72,214	63,265
Amortization of financing origination fees							11,475	10,426
Provision for long-term employee benefits							(14,637)	19,640
Employee benefit plan contributions and payments							(4,766)	(14,677)
Stock compensation expense							33,595	34,032
Net change in wholesale finance receivables related to sales							(294,698)	(22,031)
Provision for credit losses							94,572	4,935
Deferred income taxes							(2,980)	10,626
Other, net							24,392	2,094
Changes in current assets and liabilities:
Accounts receivable, net							(150,726)	(148,670)
Finance receivables – accrued interest and other							3,566	11,088
Inventories, net							(6,577)	31,874
Accounts payable and accrued liabilities							37,745	168,306
Other current assets							(42,875)	3,703
Total adjustments							(124,833)	297,094
Net cash provided by operating activities							$ 574,704	$ 925,551

Finance Receivables - Finance R

Finance Receivables - Finance Receivables, Net (Details) - USD ($) $ in Thousands	Sep. 25, 2022	Jun. 26, 2022	Dec. 31, 2021	Sep. 26, 2021	Jun. 27, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable
Financing receivable, gross	$ 7,702,544		$ 6,911,300	$ 7,219,092
Allowance for credit losses	(360,096)	$ (352,137)	(339,379)	(355,834)	$ (358,811)	$ (390,936)
Total allowance for credit loss	7,342,448		6,571,921	6,863,258
Retail
Accounts, Notes, Loans and Financing Receivable
Financing receivable, gross	6,945,649		6,493,519	6,727,956
Allowance for credit losses	(348,730)	(342,691)	(326,320)	(342,016)	(342,490)	(371,738)
Wholesale
Accounts, Notes, Loans and Financing Receivable
Financing receivable, gross	756,895		417,781	491,136
Allowance for credit losses	$ (11,366)	$ (9,446)	$ (13,059)	$ (13,818)	$ (16,321)	$ (19,198)

Finance Receivables - Additiona

Finance Receivables - Additional Information (Details)	3 Months Ended		9 Months Ended
	Sep. 25, 2022 USD ($)	Sep. 26, 2021 USD ($)	Sep. 25, 2022 USD ($) portfolio	Sep. 26, 2021 USD ($)
Accounts, Notes, Loans and Financing Receivable
Reasonable and supportable economic forecast length			2 years
Length of mean reversion process used in economic forecasting			3 years
Number of portfolios | portfolio			2
Reversal of accrued interest against interest income		$ 0	$ 0
Retail
Accounts, Notes, Loans and Financing Receivable
Reversal of accrued interest against interest income	$ 3,900,000	$ 3,100,000	$ 13,000,000	$ 11,600,000
Wholesale
Accounts, Notes, Loans and Financing Receivable
Reversal of accrued interest against interest income	$ 0			$ 0

Finance Receivables - Changes I

Finance Receivables - Changes In Allowance For Credit Losses On Finance Receivables (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 25, 2022	Sep. 26, 2021	Sep. 25, 2022	Sep. 26, 2021
Financing Receivable, Allowance for Credit Loss
Balance, beginning of period	$ 352,137	$ 358,811	$ 339,379	$ 390,936
Provision for credit losses	36,617	11,208	94,572	4,935
Charge-offs	(40,283)	(24,670)	(114,145)	(76,366)
Recoveries	11,625	10,485	40,290	36,329
Balance, end of period	360,096	355,834	360,096	355,834
Retail
Financing Receivable, Allowance for Credit Loss
Balance, beginning of period	342,691	342,490	326,320	371,738
Provision for credit losses	34,697	13,861	96,265	10,465
Charge-offs	(40,283)	(24,670)	(114,145)	(76,366)
Recoveries	11,625	10,335	40,290	36,179
Balance, end of period	348,730	342,016	348,730	342,016
Wholesale
Financing Receivable, Allowance for Credit Loss
Balance, beginning of period	9,446	16,321	13,059	19,198
Provision for credit losses	1,920	(2,653)	(1,693)	(5,530)
Charge-offs	0	0	0	0
Recoveries	0	150	0	150
Balance, end of period	$ 11,366	$ 13,818	$ 11,366	$ 13,818

Finance Receivables - Recorded

Finance Receivables - Recorded Investment in Retail Finance Receivables, by Credit Quality Indicator (Details) - USD ($) $ in Thousands	Sep. 25, 2022	Dec. 31, 2021	Sep. 26, 2021
Financing Receivable, Allowance for Credit Losses
Total	$ 7,702,544	$ 6,911,300	$ 7,219,092
Retail
Financing Receivable, Allowance for Credit Losses
2022	2,737,171
2021	2,047,531	2,949,726	2,621,357
2020	1,004,389	1,518,657	1,721,526
2019	628,340	1,006,457	1,156,272
2018	325,716	575,460	674,434
2017 & Prior	202,502	278,817	338,205
2016 & Prior		164,402	216,162
Total	6,945,649	6,493,519	6,727,956
Retail | UNITED STATES
Financing Receivable, Allowance for Credit Losses
2022	2,673,214
2021	2,001,293	2,878,709	2,552,736
2020	975,192	1,471,124	1,668,590
2019	607,111	968,569	1,113,069
2018	315,207	554,299	649,617
2017 & Prior	197,675	269,964	327,008
2016 & Prior		160,628	211,099
Total	6,769,692	6,303,293	6,522,119
Retail | CANADA
Financing Receivable, Allowance for Credit Losses
2022	63,957
2021	46,238	71,017	68,621
2020	29,197	47,533	52,936
2019	21,229	37,888	43,203
2018	10,509	21,161	24,817
2017 & Prior	4,827	8,853	11,197
2016 & Prior		3,774	5,063
Total	175,957	190,226	205,837
Retail | Super prime | UNITED STATES
Financing Receivable, Allowance for Credit Losses
2022	1,002,057
2021	684,597	1,010,636	896,163
2020	312,641	484,479	551,078
2019	187,399	316,390	367,490
2018	87,508	171,763	206,333
2017 & Prior	36,424	65,753	83,674
2016 & Prior		27,424	38,494
Total	2,310,626	2,076,445	2,143,232
Retail | Super prime | CANADA
Financing Receivable, Allowance for Credit Losses
2022	46,930
2021	33,149	51,779	50,110
2020	19,727	32,724	36,596
2019	14,500	27,073	31,173
2018	6,365	13,984	16,701
2017 & Prior	2,085	4,619	6,265
2016 & Prior		1,614	2,239
Total	122,756	131,793	143,084
Retail | Prime | UNITED STATES
Financing Receivable, Allowance for Credit Losses
2022	1,281,483
2021	982,085	1,391,385	1,228,335
2020	476,677	712,858	805,349
2019	297,481	470,177	538,440
2018	160,552	277,206	323,554
2017 & Prior	102,887	142,288	171,308
2016 & Prior		82,169	107,715
Total	3,301,165	3,076,083	3,174,701
Retail | Prime | CANADA
Financing Receivable, Allowance for Credit Losses
2022	15,043
2021	11,537	16,882	16,166
2020	8,149	12,675	13,904
2019	5,738	9,244	10,336
2018	3,562	6,230	7,026
2017 & Prior	2,345	3,628	4,228
2016 & Prior		1,779	2,350
Total	46,374	50,438	54,010
Retail | Sub-prime | UNITED STATES
Financing Receivable, Allowance for Credit Losses
2022	389,674
2021	334,611	476,688	428,238
2020	185,874	273,787	312,163
2019	122,231	182,002	207,139
2018	67,147	105,330	119,730
2017 & Prior	58,364	61,923	72,026
2016 & Prior		51,035	64,890
Total	1,157,901	1,150,765	1,204,186
Retail | Sub-prime | CANADA
Financing Receivable, Allowance for Credit Losses
2022	1,984
2021	1,552	2,356	2,345
2020	1,321	2,134	2,436
2019	991	1,571	1,694
2018	582	947	1,090
2017 & Prior	397	606	704
2016 & Prior		381	474
Total	$ 6,827	$ 7,995	$ 8,743

Finance Receivables - Recorde_2

Finance Receivables - Recorded Investment Of Retail and Wholesale Finance Receivables By Credit Quality Indicator (Details) - USD ($) $ in Thousands	Sep. 25, 2022	Dec. 31, 2021	Sep. 26, 2021
Financing Receivable, Recorded Investment
Total	$ 7,702,544	$ 6,911,300	$ 7,219,092
Wholesale
Financing Receivable, Recorded Investment
2022	714,122
2021	22,850	380,211	432,088
2020	7,169	11,379	19,082
2019	3,749	11,047	22,821
2018	8,607	10,565	11,218
2017 & Prior	398	3,662	4,222
2016 & Prior		917	1,705
Total	756,895	417,781	491,136
Wholesale | Non-Performing
Financing Receivable, Recorded Investment
2022	0
2021	0	0	0
2020	0	0	0
2019	0	0	0
2018	0	0	0
2017 & Prior	0	0	0
2016 & Prior		0	0
Total	0	0	0
Wholesale | Doubtful
Financing Receivable, Recorded Investment
2022	0
2021	0	0	0
2020	0	0	0
2019	0	0	0
2018	0	0	0
2017 & Prior	0	0	0
2016 & Prior		0	0
Total	0	0	0
Wholesale | Substandard
Financing Receivable, Recorded Investment
2022	0
2021	0	0	0
2020	0	0	0
2019	0	0	0
2018	0	0	0
2017 & Prior	0	0	0
2016 & Prior		0	0
Total	0	0	0
Wholesale | Special Mention
Financing Receivable, Recorded Investment
2022	0
2021	0	0	0
2020	0	0	0
2019	0	0	0
2018	0	0	0
2017 & Prior	0	0	0
2016 & Prior		0	0
Total	0	0	0
Wholesale | Medium Risk
Financing Receivable, Recorded Investment
2022	0
2021	0	0	0
2020	0	0	0
2019	0	0	0
2018	0	0	0
2017 & Prior	0	0	0
2016 & Prior		0	0
Total	0	0	0
Wholesale | Low Risk
Financing Receivable, Recorded Investment
2022	714,122
2021	22,850	380,211	432,088
2020	7,169	11,379	19,082
2019	3,749	11,047	22,821
2018	8,607	10,565	11,218
2017 & Prior	398	3,662	4,222
2016 & Prior		917	1,705
Total	$ 756,895	$ 417,781	$ 491,136

Finance Receivables - Aging Of

Finance Receivables - Aging Of Past Due Finance Receivables Including Non Accrual Status Finance Receivables (Details) - USD ($) $ in Thousands	Sep. 25, 2022	Dec. 31, 2021	Sep. 26, 2021
Financing Receivable, Recorded Investment, Past Due
Financing receivable, gross	$ 7,702,544	$ 6,911,300	$ 7,219,092
Current
Financing Receivable, Recorded Investment, Past Due
Financing receivable, gross	7,470,704	6,716,205	7,052,386
Total Past Due
Financing Receivable, Recorded Investment, Past Due
Financing receivable, gross	231,840	195,095	166,706
30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Financing receivable, gross	137,228	115,951	101,203
60 To 89 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Financing receivable, gross	49,275	44,327	35,365
Greater than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Financing receivable, gross	45,337	34,817	30,138
Retail
Financing Receivable, Recorded Investment, Past Due
Financing receivable, gross	6,945,649	6,493,519	6,727,956
Retail | Current
Financing Receivable, Recorded Investment, Past Due
Financing receivable, gross	6,714,095	6,298,485	6,561,412
Retail | Total Past Due
Financing Receivable, Recorded Investment, Past Due
Financing receivable, gross	231,554	195,034	166,544
Retail | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Financing receivable, gross	136,957	115,942	101,157
Retail | 60 To 89 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Financing receivable, gross	49,260	44,326	35,273
Retail | Greater than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Financing receivable, gross	45,337	34,766	30,114
Wholesale
Financing Receivable, Recorded Investment, Past Due
Financing receivable, gross	756,895	417,781	491,136
Wholesale | Current
Financing Receivable, Recorded Investment, Past Due
Financing receivable, gross	756,609	417,720	490,974
Wholesale | Total Past Due
Financing Receivable, Recorded Investment, Past Due
Financing receivable, gross	286	61	162
Wholesale | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Financing receivable, gross	271	9	46
Wholesale | 60 To 89 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Financing receivable, gross	15	1	92
Wholesale | Greater than 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Financing receivable, gross	$ 0	$ 51	$ 24

Derivative Financial Instrume_3

Derivative Financial Instruments and Hedging Activities - Derivative Instrument Fair Value (Details) - USD ($) $ in Thousands	Sep. 25, 2022	Dec. 31, 2021	Sep. 26, 2021
Cash Flow Hedging | Cross-currency swaps | Other long-term liabilities
Derivatives, Fair Value
Liabilities	$ 82,700
Cash Flow Hedging | Interest rate caps | Other long-term assets
Derivatives, Fair Value
Assets	3,900
Designated as Hedging Instrument | Cash Flow Hedging
Derivatives, Fair Value
Notional Value	1,828,436	$ 1,930,718	$ 1,774,680
Assets	30,144	49,734	58,621
Liabilities	149,810	1,427	502
Designated as Hedging Instrument | Cash Flow Hedging | Foreign currency contracts
Derivatives, Fair Value
Notional Value	459,252	562,262	406,220
Assets	29,975	14,644	10,174
Liabilities	331	1,388	502
Designated as Hedging Instrument | Cash Flow Hedging | Commodity contracts
Derivatives, Fair Value
Notional Value	1,724	996	1,000
Assets	169	19	458
Liabilities	0	39	0
Designated as Hedging Instrument | Cash Flow Hedging | Cross-currency swaps
Derivatives, Fair Value
Notional Value	1,367,460	1,367,460	1,367,460
Assets	0	35,071	47,989
Liabilities	149,479	0	0
Not Designated as Hedging Instrument
Derivatives, Fair Value
Notional Value	1,191,375	757,092	753,523
Assets	3,884	2,300	1,226
Liabilities	919	934	192
Not Designated as Hedging Instrument | Foreign currency contracts
Derivatives, Fair Value
Notional Value	0	241,935	135,381
Assets	0	1,299	375
Liabilities	0	916	162
Not Designated as Hedging Instrument | Commodity contracts
Derivatives, Fair Value
Notional Value	8,197	10,631	9,920
Assets	27	641	739
Liabilities	919	18	30
Not Designated as Hedging Instrument | Interest rate caps
Derivatives, Fair Value
Notional Value	1,183,178	504,526	608,222
Assets	3,857	360	112
Liabilities	$ 0	$ 0	$ 0

Derivative Financial Instrume_4

Derivative Financial Instruments and Hedging Activities - Amount Of Gains And Losses Related To Derivative Financial Instruments (Details) - Designated as Hedging Instrument - Cash Flow Hedging - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 25, 2022	Sep. 26, 2021	Sep. 25, 2022	Sep. 26, 2021
Derivative Instruments, Gain (Loss)
Gain/(Loss) Recognized in OCI	$ (68,167)	$ (31,698)	$ (129,306)	$ (68,861)
Gain/(Loss) Reclassified from AOCL into Income	(79,852)	(37,166)	(170,601)	(96,854)
Foreign currency contracts
Derivative Instruments, Gain (Loss)
Gain/(Loss) Recognized in OCI	26,657	8,653	54,429	20,829
Gain/(Loss) Reclassified from AOCL into Income	15,202	(3,504)	30,484	(16,051)
Commodity contracts
Derivative Instruments, Gain (Loss)
Gain/(Loss) Recognized in OCI	88	390	816	546
Gain/(Loss) Reclassified from AOCL into Income	147	65	627	36
Cross-currency swaps
Derivative Instruments, Gain (Loss)
Gain/(Loss) Recognized in OCI	(94,912)	(40,741)	(184,551)	(90,633)
Gain/(Loss) Reclassified from AOCL into Income	(95,111)	(33,600)	(201,377)	(77,775)
Treasury rate lock contracts
Derivative Instruments, Gain (Loss)
Gain/(Loss) Recognized in OCI	0	0	0	0
Gain/(Loss) Reclassified from AOCL into Income	(90)	(127)	(335)	(375)
Interest rate swaps
Derivative Instruments, Gain (Loss)
Gain/(Loss) Recognized in OCI	0	0	0	397
Gain/(Loss) Reclassified from AOCL into Income	$ 0	$ 0	$ 0	$ (2,689)

Derivative Financial Instrume_5

Derivative Financial Instruments and Hedging Activities - Amount Of Gains And Losses Recognized In Income Related To Derivative Financial Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 25, 2022	Sep. 26, 2021	Sep. 25, 2022	Sep. 26, 2021
Derivative
Motorcycles and Related Products cost of goods sold	$ 946,656	$ 850,193	$ 2,721,913	$ 2,586,264
Selling, administrative and engineering expense	265,841	254,312	740,699	747,665
Interest expense	8,124	7,779	23,555	23,209
Financial Services interest expense	60,740	44,770	150,488	149,098
Expected to be reclassified over the next twelve months			1,800
Cash Flow Hedging | Designated as Hedging Instrument
Derivative
Gain/(Loss) Reclassified from AOCL into Income	(79,852)	(37,166)	(170,601)	(96,854)
Cash Flow Hedging | Designated as Hedging Instrument | Foreign currency contracts
Derivative
Gain/(Loss) Reclassified from AOCL into Income	15,202	(3,504)	30,484	(16,051)
Cash Flow Hedging | Designated as Hedging Instrument | Foreign currency contracts | Motorcycles cost of goods sold
Derivative
Gain/(Loss) Reclassified from AOCL into Income	15,202	(3,504)	30,484	(16,051)
Cash Flow Hedging | Designated as Hedging Instrument | Commodity contracts
Derivative
Gain/(Loss) Reclassified from AOCL into Income	147	65	627	36
Cash Flow Hedging | Designated as Hedging Instrument | Commodity contracts | Motorcycles cost of goods sold
Derivative
Gain/(Loss) Reclassified from AOCL into Income	147	65	627	36
Cash Flow Hedging | Designated as Hedging Instrument | Cross-currency swaps
Derivative
Gain/(Loss) Reclassified from AOCL into Income	(95,111)	(33,600)	(201,377)	(77,775)
Cash Flow Hedging | Designated as Hedging Instrument | Cross-currency swaps | Selling, administrative & engineering expense
Derivative
Gain/(Loss) Reclassified from AOCL into Income	(95,111)	(33,600)	(201,377)	(77,775)
Cash Flow Hedging | Designated as Hedging Instrument | Treasury rate lock contracts
Derivative
Gain/(Loss) Reclassified from AOCL into Income	(90)	(127)	(335)	(375)
Cash Flow Hedging | Designated as Hedging Instrument | Treasury rate lock contracts | Interest expense
Derivative
Gain/(Loss) Reclassified from AOCL into Income	(90)	(91)	(272)	(272)
Cash Flow Hedging | Designated as Hedging Instrument | Treasury rate lock contracts | Financial Services interest expense
Derivative
Gain/(Loss) Reclassified from AOCL into Income	0	(36)	(63)	(103)
Cash Flow Hedging | Designated as Hedging Instrument | Interest rate swaps
Derivative
Gain/(Loss) Reclassified from AOCL into Income	$ 0	$ 0	$ 0	(2,689)
Cash Flow Hedging | Designated as Hedging Instrument | Interest rate swaps | Financial Services interest expense
Derivative
Gain/(Loss) Reclassified from AOCL into Income				$ (2,689)

Derivative Financial Instrume_6

Derivative Financial Instruments and Hedging Activities - Gain Loss Recognized In Income On Hedged Derivatives (Details) - Not Designated as Hedging Instrument - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 25, 2022	Sep. 26, 2021	Sep. 25, 2022	Sep. 26, 2021
Derivative
Amount of Gain/(Loss) Recognized in Income	$ 4,298	$ 2,215	$ 11,835	$ (1,803)
Foreign currency contracts | Cost of Sales
Derivative
Amount of Gain/(Loss) Recognized in Income	3,061	2,152	9,348	(3,396)
Commodity contracts | Cost of Sales
Derivative
Amount of Gain/(Loss) Recognized in Income	(760)	102	472	1,528
Interest rate caps | Cost of Sales
Derivative
Amount of Gain/(Loss) Recognized in Income	$ 1,997	$ (39)	$ 2,015	$ 65

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 25, 2022	Sep. 26, 2021	Sep. 25, 2022	Sep. 26, 2021	Dec. 31, 2021
Lessee, Lease, Description [Line Items]
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued liabilities	Accrued liabilities	Accrued liabilities	Accrued liabilities	Accrued liabilities
Renewal term	5 years		5 years
Termination period			1 year
Operating lease expense	$ 6.2	$ 6.1	$ 19.3	$ 18.7
Variable lease cost	$ 0.8	$ 0.9	$ 2.7	$ 3.4
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease terms	1 year		1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease terms	6 years		6 years

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Sep. 25, 2022	Dec. 31, 2021	Sep. 26, 2021
Assets
Lease assets	$ 40,543	$ 49,625	$ 47,507
Liabilities
Accrued liabilities	15,366	17,369	18,468
Lease liabilities	23,836	29,904	26,017
Lease liability	$ 39,202	$ 47,273	$ 44,485

Leases - Future Maturities of L

Leases - Future Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Sep. 25, 2022	Dec. 31, 2021	Sep. 26, 2021
Lessee, Operating Lease, Liability, Payment, Due
2022	$ 4,502
2023	14,351
2024	8,437
2025	6,121
2026	4,927
Thereafter	2,130
Future lease payments	40,468
Present value discount	(1,266)
Lease liabilities	$ 39,202	$ 47,273	$ 44,485

Leases - Other Lease Informatio

Leases - Other Lease Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 25, 2022	Sep. 26, 2021	Sep. 25, 2022	Sep. 26, 2021	Dec. 31, 2021
Cash Flow, Operating Activities, Lessee
Cash outflows for amounts included in the measurement of lease liabilities	$ 5,391	$ 4,756	$ 14,985	$ 20,479
ROU assets obtained in exchange for lease obligations, net of modifications	$ 1,980	$ 11,189	$ 8,333	$ 17,390
Weighted-average remaining lease term (in years)	3 years 5 months 4 days	3 years 4 months 9 days	3 years 5 months 4 days	3 years 4 months 9 days	3 years 10 months 9 days
Weighted-average discount rate	2.10%	2.40%	2.10%	2.40%	1.90%

Debt - Debt With Contractual Te

Debt - Debt With Contractual Term Less Than One Year (Details) - USD ($) $ in Thousands	Sep. 25, 2022	Dec. 31, 2021	Sep. 26, 2021
Short-term Debt
Short-term debt	$ 692,551	$ 751,286	$ 749,620
Unsecured commercial paper
Short-term Debt
Short-term debt	$ 692,551	$ 751,286	$ 749,620

Debt - Debt With A Contractual

Debt - Debt With A Contractual Term Greater Than One Year (Details) $ in Thousands, € in Millions	Sep. 25, 2022 USD ($)	Sep. 25, 2022 EUR (€)	Dec. 31, 2021 USD ($)	Dec. 31, 2021 EUR (€)	Sep. 26, 2021 USD ($)	Sep. 26, 2021 EUR (€)
Debt Instrument
Unamortized discounts and debt issuance costs	$ (25,159)
Long-term debt	6,478,656		$ 6,138,113		$ 6,482,090
Current portion of long-term debt, net	(1,740,422)		(1,542,496)		(1,605,798)
Long-term debt, net	4,738,234		4,595,617		4,876,292
Secured Debt
Debt Instrument
Unamortized discounts and debt issuance costs	(10,669)		(7,611)		(9,203)
Long-term debt	2,976,634		1,984,785		2,292,932
Secured Debt | Asset-backed Canadian commercial paper conduit facility
Debt Instrument
Long-term debt, gross	82,154		85,054		98,310
Secured Debt | Asset-backed U.S. commercial paper conduit facility
Debt Instrument
Long-term debt, gross	489,074		272,589		242,254
Secured Debt | Asset-backed securitization debt
Debt Instrument
Long-term debt, gross	2,416,075		1,634,753		1,961,571
Medium-term notes
Debt Instrument
Long-term debt, gross	2,756,830		3,408,660		3,444,664
Unamortized discounts and debt issuance costs	$ (9,682)		(9,228)		(10,649)
Medium-term notes | Due in 2022, issued February 2019
Debt Instrument
Debt instrument, stated percentage	4.05%	4.05%
Long-term debt, gross	$ 0		550,000		550,000
Medium-term notes | Due in 2022, issued June 2017
Debt Instrument
Debt instrument, stated percentage	2.55%	2.55%
Long-term debt, gross	$ 0		400,000		400,000
Medium-term notes | Due in 2023, issued February 2018
Debt Instrument
Debt instrument, stated percentage	3.35%	3.35%
Long-term debt, gross	$ 350,000		350,000		350,000
Medium-term notes | Due in 2023, issued May 2020
Debt Instrument
Debt instrument, stated percentage	4.94%	4.94%
Long-term debt, gross	$ 632,586	€ 650	737,302	€ 650	756,763	€ 650
Medium-term notes | Due in 2024, issued November 2019
Debt Instrument
Debt instrument, stated percentage	3.14%	3.14%
Long-term debt, gross	$ 583,926	€ 600	680,586	€ 600	698,550	€ 600
Medium-term notes | Due in 2025, issued June 2020
Debt Instrument
Debt instrument, stated percentage	3.35%	3.35%
Long-term debt, gross	$ 700,000		700,000		700,000
Medium-term notes | Due in 2027, issued February 2022
Debt Instrument
Debt instrument, stated percentage	3.05%	3.05%
Long-term debt, gross	$ 500,000		0		0
Senior notes
Debt Instrument
Unamortized discounts and debt issuance costs	(4,808)		(5,332)		(5,506)
Long-term debt	$ 745,192		744,668		744,494
Senior notes | Due in 2025, issued July 2015
Debt Instrument
Debt instrument, stated percentage	3.50%	3.50%
Long-term debt, gross	$ 450,000		450,000		450,000
Senior notes | Due in 2045, issued July 2015
Debt Instrument
Debt instrument, stated percentage	4.625%	4.625%
Long-term debt, gross	$ 300,000		300,000		300,000
Unsecured Debt
Debt Instrument
Long-term debt	$ 3,502,022		$ 4,153,328		$ 4,189,158

Debt - Schedule of Maturities o

Debt - Schedule of Maturities of Long-term debt (Details) $ in Thousands	Sep. 25, 2022 USD ($)
Debt Disclosure [Abstract]
2022	$ 978,288
2023	1,701,700
2024	1,257,491
2025	1,866,611
2026	521,545
Thereafter	870,731
Future principal payments	7,196,366
Unamortized discounts and debt issuance costs	(25,159)
Total future payments	$ 7,171,207

Asset-Backed Financing - Assets

Asset-Backed Financing - Assets And Liabilities Of Variable Interest Entities (Details) - USD ($) $ in Thousands	Sep. 25, 2022	Dec. 31, 2021	Sep. 26, 2021
Finance receivables
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings
Transfers accounts for as secured borrowings, assets, carrying amount	$ 3,638,110	$ 2,442,828	$ 2,739,054
Transfers accounted for as secured borrowings, assets, allowance for credit losses, carrying amount	(181,660)	(121,667)	(138,100)
Finance receivables | Asset-backed securitizations | Consolidated VIEs
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings
Transfers accounts for as secured borrowings, assets, carrying amount	3,003,578	2,048,194	2,362,454
Transfers accounted for as secured borrowings, assets, allowance for credit losses, carrying amount	(150,672)	(102,779)	(119,975)
Finance receivables | Asset-backed U.S. commercial paper conduit facility | Consolidated VIEs
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings
Transfers accounts for as secured borrowings, assets, carrying amount	540,751	297,454	264,226
Transfers accounted for as secured borrowings, assets, allowance for credit losses, carrying amount	(27,114)	(14,898)	(13,396)
Finance receivables | Asset-backed Canadian commercial paper conduit facility | Unconsolidated VIEs
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings
Transfers accounts for as secured borrowings, assets, carrying amount	93,781	97,180	112,374
Transfers accounted for as secured borrowings, assets, allowance for credit losses, carrying amount	(3,874)	(3,990)	(4,729)
Restricted cash
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings
Transfers accounts for as secured borrowings, assets, carrying amount	212,040	150,475	175,273
Restricted cash | Asset-backed securitizations | Consolidated VIEs
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings
Transfers accounts for as secured borrowings, assets, carrying amount	170,297	123,717	148,177
Restricted cash | Asset-backed U.S. commercial paper conduit facility | Consolidated VIEs
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings
Transfers accounts for as secured borrowings, assets, carrying amount	35,581	20,567	19,688
Restricted cash | Asset-backed Canadian commercial paper conduit facility | Unconsolidated VIEs
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings
Transfers accounts for as secured borrowings, assets, carrying amount	6,162	6,191	7,408
Other assets
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings
Transfers accounts for as secured borrowings, assets, carrying amount	9,750	3,121	2,911
Other assets | Asset-backed securitizations | Consolidated VIEs
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings
Transfers accounts for as secured borrowings, assets, carrying amount	8,274	2,328	2,228
Other assets | Asset-backed U.S. commercial paper conduit facility | Consolidated VIEs
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings
Transfers accounts for as secured borrowings, assets, carrying amount	1,308	654	526
Other assets | Asset-backed Canadian commercial paper conduit facility | Unconsolidated VIEs
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings
Transfers accounts for as secured borrowings, assets, carrying amount	168	139	157
Total assets
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings
Transfers accounts for as secured borrowings, assets, carrying amount	3,678,240	2,474,757	2,779,138
Total assets | Asset-backed securitizations | Consolidated VIEs
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings
Transfers accounts for as secured borrowings, assets, carrying amount	3,031,477	2,071,460	2,392,884
Total assets | Asset-backed U.S. commercial paper conduit facility | Consolidated VIEs
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings
Transfers accounts for as secured borrowings, assets, carrying amount	550,526	303,777	271,044
Total assets | Asset-backed Canadian commercial paper conduit facility | Unconsolidated VIEs
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings
Transfers accounts for as secured borrowings, assets, carrying amount	96,237	99,520	115,210
Asset-backed debt, net
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings
Transfers accounts for as secured borrowings, associated liabilities, carrying amount	2,976,634	1,984,785	2,292,932
Asset-backed debt, net | Asset-backed securitizations | Consolidated VIEs
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings
Transfers accounts for as secured borrowings, associated liabilities, carrying amount	2,405,406	1,627,142	1,952,368
Asset-backed debt, net | Asset-backed U.S. commercial paper conduit facility | Consolidated VIEs
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings
Transfers accounts for as secured borrowings, associated liabilities, carrying amount	489,074	272,589	242,254
Asset-backed debt, net | Asset-backed Canadian commercial paper conduit facility | Unconsolidated VIEs
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings
Transfers accounts for as secured borrowings, associated liabilities, carrying amount	$ 82,154	$ 85,054	$ 98,310

Asset-Backed Financing - Transf

Asset-Backed Financing - Transfer of Financial Assets Accounted for as Sales (Details) - Secured Debt - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 25, 2022	Jun. 26, 2022	Mar. 27, 2022	Sep. 26, 2021	Jun. 27, 2021	Mar. 28, 2021	Sep. 25, 2022	Sep. 26, 2021
U.S. Line of Credit | Asset-backed U.S. commercial paper conduit facility | Consolidated VIEs
Variable Interest Entity
Transfers	$ 0	$ 2,176.4	$ 0	$ 635.5	$ 0	$ 663.1	$ 2,176.4	$ 1,298.6
Proceeds	0	1,836.3	0	575	0	600	1,836.3	1,175
Proceeds, net	0	1,826.9	0	572.5	0	597.4	1,826.9	1,169.9
Foreign Line of Credit | Asset-backed Canadian commercial paper conduit facility | Unconsolidated VIEs
Variable Interest Entity
Transfers	27.8	0	25.3	32.8	0	0	53.1	32.8
Proceeds	$ 23	$ 0	$ 21.2	$ 27.4	$ 0	$ 0	$ 44.2	$ 27.4

Asset-Backed Financing - Additi

Asset-Backed Financing - Additional Information (Details) - Secured Debt $ in Millions, $ in Millions	3 Months Ended			9 Months Ended
	Sep. 25, 2022 USD ($)	Jun. 26, 2022 USD ($)	Mar. 27, 2022 USD ($)	Sep. 25, 2022 USD ($)	Sep. 26, 2021 USD ($)	Sep. 25, 2022 CAD ($)	Sep. 23, 2022 USD ($)	Sep. 23, 2022 CAD ($)
U.S. Line of Credit | Asset-Backed U.S. Commercial Paper Conduit Facility VIE, Combined Facilities | Consolidated VIEs
Variable Interest Entity
Line of credit, maximum borrowing capacity							$ 900
Line of credit facility, remaining borrowing capacity							$ 300
U.S. Line of Credit | Asset-Backed U.S. Commercial Paper Conduit Facility VIE, Combined Facilities | Unconsolidated VIEs
Variable Interest Entity
Line of credit, maximum borrowing capacity								$ 1,500
U.S. Line of Credit | Asset-backed U.S. Commercial Paper Conduit Facility VIE, Facility One | Consolidated VIEs
Variable Interest Entity
Line of credit, maximum borrowing capacity	$ 300			$ 300
U.S. Line of Credit | Asset-backed U.S. commercial paper conduit facility | SPE
Variable Interest Entity
Debt issued		$ 362.8	$ 41.3
U.S. Line of Credit | Asset-backed U.S. commercial paper conduit facility | Consolidated VIEs
Variable Interest Entity
Length of option				4 years
Amount transferred to receivables	0	$ 420.8	$ 47.1		$ 0
Global credit facility borrowings | Asset-backed Canadian commercial paper conduit facility | Unconsolidated VIEs
Variable Interest Entity
Line of credit, maximum borrowing capacity						$ 125
Length of option				5 years
VIE, maximum loss exposure, amount	$ 14.1			$ 14.1

Fair Value - Summary of Assets

Fair Value - Summary of Assets And Liabilities Measured at Fair Value (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Sep. 25, 2022	Dec. 31, 2021	Sep. 26, 2021
Assets:
Cash equivalents	$ 1,324,705	$ 1,617,887	$ 1,753,398
Marketable securities	33,631	49,650	48,766
Derivative financial instruments	34,028	52,034	59,847
Assets, fair value	1,392,364	1,719,571	1,862,011
Liabilities:
Derivative financial instruments	150,729	2,361	694
Level 1
Assets:
Cash equivalents	1,057,000	1,337,900	1,503,400
Marketable securities	33,631	49,650	48,766
Derivative financial instruments	0	0	0
Assets, fair value	1,090,631	1,387,550	1,552,166
Liabilities:
Derivative financial instruments	0	0	0
Level 2
Assets:
Cash equivalents	267,705	279,987	249,998
Marketable securities	0	0	0
Derivative financial instruments	34,028	52,034	59,847
Assets, fair value	301,733	332,021	309,845
Liabilities:
Derivative financial instruments	$ 150,729	$ 2,361	$ 694

Fair Value - Additional Informa

Fair Value - Additional Information (Details) - Fair Value, Measurements, Nonrecurring - USD ($) $ in Millions	Sep. 25, 2022	Dec. 31, 2021	Sep. 26, 2021
Fair Value Adjustment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Repossessed inventory adjustment	$ 2.5	$ 2.9	$ 1.4
Level 2 | Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Repossessed inventory adjustment	$ 20.3		$ 18.3

Fair Value - Summary of Fair Va

Fair Value - Summary of Fair Value and Carrying Value of Company Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 25, 2022	Dec. 31, 2021	Sep. 26, 2021
Fair Value
Assets:
Finance receivables, net	$ 7,555,135	$ 6,794,499	$ 7,117,828
Liabilities:
Deposits, net	369,429	293,602	292,284
Fair Value | Medium-term notes
Debt:
Long-term debt, fair value	2,612,372	3,513,815	3,583,411
Fair Value | Senior notes
Debt:
Long-term debt, fair value	637,494	790,373	798,518
Fair Value | Asset-backed U.S. commercial paper conduit facility | Secured Debt
Debt:
Long-term debt, fair value	489,074	272,589	242,254
Fair Value | Asset-backed Canadian commercial paper conduit facility | Secured Debt
Debt:
Long-term debt, fair value	82,154	85,054	98,310
Fair Value | Asset-backed securitization debt | Secured Debt
Debt:
Long-term debt, fair value	2,385,056	1,633,749	1,967,893
Fair Value | Unsecured commercial paper
Debt:
Short-term debt, fair value	692,551	751,286	749,620
Carrying Value
Assets:
Finance receivables, net	7,342,448	6,571,921	6,863,258
Liabilities:
Deposits, net	344,735	290,326	290,270
Carrying Value | Medium-term notes
Debt:
Long-term debt, fair value	2,756,830	3,408,660	3,444,664
Carrying Value | Senior notes
Debt:
Long-term debt, fair value	745,192	744,668	744,494
Carrying Value | Asset-backed U.S. commercial paper conduit facility | Secured Debt
Debt:
Long-term debt, fair value	489,074	272,589	242,254
Carrying Value | Asset-backed Canadian commercial paper conduit facility | Secured Debt
Debt:
Long-term debt, fair value	82,154	85,054	98,310
Carrying Value | Asset-backed securitization debt | Secured Debt
Debt:
Long-term debt, fair value	2,405,406	1,627,142	1,952,368
Carrying Value | Unsecured commercial paper
Debt:
Short-term debt, fair value	$ 692,551	$ 751,286	$ 749,620

Product Warranty and Recall C_3

Product Warranty and Recall Campaigns - Additional Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 25, 2022	Jun. 26, 2022	Dec. 31, 2021	Sep. 26, 2021	Jun. 27, 2021	Dec. 31, 2020
Product Information
Liability for recall campaigns	$ 77,903	$ 61,727	$ 61,621	$ 71,713	$ 73,626	$ 69,208
Recall Campaign
Product Information
Liability for recall campaigns	$ 31,200		$ 16,900	$ 21,900
Motorcycle finished goods
Product Information
Standard product warranty, period	3 years
Battery For Electric Motorcycles
Product Information
Unlimited warranty period	5 years
Parts and accessories and apparel
Product Information
Standard product warranty, period	1 year
All Countries, except certain markets | Motorcycle finished goods
Product Information
Standard product warranty, period	2 years

Product Warranty and Recall C_4

Product Warranty and Recall Campaigns - Warranty and Recall Liability (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 25, 2022	Sep. 26, 2021	Sep. 25, 2022	Sep. 26, 2021
Movement in Standard Product Warranty Accrual
Balance, beginning of period	$ 61,727	$ 73,626	$ 61,621	$ 69,208
Warranties issued during the period	11,094	9,516	31,522	34,006
Settlements made during the period	(12,099)	(10,860)	(29,228)	(29,823)
Recalls and changes to pre-existing warranty liabilities	17,181	(569)	13,988	(1,678)
Balance, end of period	$ 77,903	$ 71,713	$ 77,903	$ 71,713

Employee Benefit Plans - Compon

Employee Benefit Plans - Components Of Net Periodic Benefit Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 25, 2022	Sep. 26, 2021	Sep. 25, 2022	Sep. 26, 2021
Pension and SERPA Benefits:
Defined Benefit Plan Disclosure
Service cost	$ 4,763	$ 6,348	$ 14,289	$ 19,044
Interest cost	15,473	15,472	46,418	46,412
Expected return on plan assets	(31,476)	(32,720)	(94,428)	(98,160)
Amortization of unrecognized: Prior service credit	(328)	(312)	(984)	(936)
Amortization of unrecognized: Net loss	7,978	18,386	23,934	55,158
Settlement (gain) loss	0	0	(256)	816
Net periodic benefit (income) cost	(3,590)	7,174	(11,027)	22,334
Postretirement Healthcare Benefits:
Defined Benefit Plan Disclosure
Service cost	1,161	1,288	3,482	3,864
Interest cost	1,904	1,626	5,712	4,878
Expected return on plan assets	(3,809)	(3,495)	(11,427)	(10,485)
Amortization of unrecognized: Prior service credit	(581)	(581)	(1,743)	(1,743)
Amortization of unrecognized: Net loss	122	264	366	792
Net periodic benefit (income) cost	$ (1,203)	$ (898)	$ (3,610)	$ (2,694)

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 25, 2022	Jun. 26, 2022	Mar. 27, 2022	Sep. 26, 2021	Jun. 27, 2021	Mar. 28, 2021	Sep. 25, 2022	Sep. 26, 2021
AOCI Attributable to Parent, Net of Tax
Balance, beginning of period	$ 2,635,152	$ 2,509,101	$ 2,553,244	$ 2,184,272	$ 1,976,386	$ 1,722,785	$ 2,553,244	$ 1,722,785
Other comprehensive loss, before reclassifications	(115,500)			(49,994)			(212,043)
Income tax benefit	15,891			7,388			29,375
Net other comprehensive income (loss) before reclassifications	(99,609)			(42,606)			(182,668)
Total reclassifications before tax	87,043			54,923			192,174
Income tax expense	(19,145)			(12,295)			(42,574)
Net reclassifications	67,898			42,628			149,600
Other comprehensive (loss) income	(31,711)	(12,666)	11,309	22	14,500	13,780	(33,068)	28,302
Balance, end of period	2,840,210	2,635,152	2,509,101	2,333,894	2,184,272	1,976,386	2,840,210	2,333,894
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax
Balance, beginning of period	(242,276)	(229,610)	(240,919)	(455,137)	(469,637)	(483,417)	(240,919)	(483,417)
Other comprehensive loss, before reclassifications								(102,509)
Income tax benefit								14,915
Net other comprehensive income (loss) before reclassifications								(87,594)
Total reclassifications before tax								150,125
Income tax expense								(34,229)
Net reclassifications								115,896
Other comprehensive (loss) income	(31,711)	(12,666)	11,309	22	14,500	13,780		28,302
Balance, end of period	(273,987)	(242,276)	(229,610)	(455,115)	(455,137)	(469,637)	(273,987)	(455,115)
Foreign currency translation adjustments
AOCI Attributable to Parent, Net of Tax
Balance, beginning of period	(79,543)		(44,401)	(23,512)		(7,589)	(44,401)	(7,589)
Other comprehensive loss, before reclassifications	(47,333)			(18,296)			(82,737)	(33,648)
Income tax benefit	1,088			460			1,350	(111)
Net other comprehensive income (loss) before reclassifications	(46,245)			(17,836)			(81,387)	(33,759)
Other comprehensive (loss) income	(46,245)			(17,836)			(81,387)	(33,759)
Balance, end of period	(125,788)	(79,543)		(41,348)	(23,512)		(125,788)	(41,348)
Derivative financial instruments
AOCI Attributable to Parent, Net of Tax
Balance, beginning of period	20,775		(2,005)	(29,088)		(46,116)	(2,005)	(46,116)
Other comprehensive loss, before reclassifications	(68,167)			(31,698)			(129,306)	(68,861)
Income tax benefit	14,803			6,928			28,025	15,026
Net other comprehensive income (loss) before reclassifications	(53,364)			(24,770)			(101,281)	(53,835)
Total reclassifications before tax	79,852			37,166			170,601	96,854
Income tax expense	(17,457)			(8,126)			(37,509)	(21,721)
Net reclassifications	62,395			29,040			133,092	75,133
Other comprehensive (loss) income	9,031			4,270			31,811	21,298
Balance, end of period	29,806	20,775		(24,818)	(29,088)		29,806	(24,818)
Pension and postretirement benefit plans
AOCI Attributable to Parent, Net of Tax
Balance, beginning of period	(183,508)		$ (194,513)	(402,537)		$ (429,712)	(194,513)	(429,712)
Total reclassifications before tax	7,191			17,757			21,573	53,271
Income tax expense	(1,688)			(4,169)			(5,065)	(12,508)
Net reclassifications	5,503			13,588			16,508	40,763
Other comprehensive (loss) income	5,503			13,588			16,508	40,763
Balance, end of period	(178,005)	$ (183,508)		(388,949)	$ (402,537)		(178,005)	(388,949)
Pension and Postretirement Benefit Plans - Prior Service Credits
AOCI Attributable to Parent, Net of Tax
Total reclassifications before tax	(909)			(893)			(2,727)	(2,679)
Pension and Postretirement Benefit Plans - Actuarial Losses
AOCI Attributable to Parent, Net of Tax
Total reclassifications before tax	$ 8,100			$ 18,650			$ 24,300	$ 55,950

Reportable Segments (Details)

Reportable Segments (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 25, 2022 USD ($)	Sep. 26, 2021 USD ($)	Sep. 25, 2022 USD ($) segment	Sep. 26, 2021 USD ($)	Dec. 31, 2021 USD ($)
Segment Reporting [Abstract]
Number of reportable segments | segment			2
Segment Reporting Information
Motorcycles revenue	$ 1,436,962	$ 1,160,618	$ 4,006,604	$ 3,724,225
Selling, administrative and engineering expense	265,841	254,312	740,699	747,665
Restructuring expense (benefit)	3	615	(389)	1,167
Financial Services revenue	211,613	204,692	606,244	595,650
Financial Services expense	946,656	850,193	2,721,913	2,586,264
Operating income	338,718	204,212	905,565	830,746
Assets	11,927,611	11,199,804	11,927,611	11,199,804	$ 11,051,055
Motorcycles and Related Products
Segment Reporting Information
Motorcycles revenue	1,436,962	1,160,618	4,006,604	3,724,225
Gross profit	490,306	310,425	1,284,691	1,137,961
Selling, administrative and engineering expense	232,541	212,243	632,756	626,211
Restructuring expense (benefit)	3	517	(389)	731
Operating income	257,762	97,665	652,324	511,019
Assets	3,400,000	3,000,000	3,400,000	3,000,000	3,300,000
Financial Services
Segment Reporting Information
Restructuring expense (benefit)	0	98	0	436
Financial Services revenue	211,613	204,692	606,244	595,650
Financial Services expense	130,657	98,047	353,003	275,487
Operating income	80,956	106,547	253,241	319,727
Assets	$ 8,500,000	$ 8,200,000	$ 8,500,000	$ 8,200,000	$ 7,700,000

Supplemental Consolidating Da_3

Supplemental Consolidating Data - Operations (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 25, 2022	Jun. 26, 2022	Mar. 27, 2022	Sep. 26, 2021	Jun. 27, 2021	Mar. 28, 2021	Sep. 25, 2022	Sep. 26, 2021
Revenue:
Motorcycles and Related Products	$ 1,436,962			$ 1,160,618			$ 4,006,604	$ 3,724,225
Financial Services	211,613			204,692			606,244	595,650
Total revenue	1,648,575			1,365,310			4,612,848	4,319,875
Costs and expenses:
Motorcycles and Related Products cost of goods sold	946,656			850,193			2,721,913	2,586,264
Financial Services interest expense	60,740			44,770			150,488	149,098
Provision for credit losses	36,617			11,208			94,572	4,935
Selling, administrative and engineering expense	265,841			254,312			740,699	747,665
Restructuring expense (benefit)	3			615			(389)	1,167
Total costs and expenses	1,309,857			1,161,098			3,707,283	3,489,129
Operating income	338,718			204,212			905,565	830,746
Other income, net	9,358			858			30,443	1,825
Investment income (loss)	1,723			198			(3,786)	4,331
Interest expense	8,124			7,779			23,555	23,209
Income before provision for income taxes	341,675			197,489			908,667	813,693
Provision for income taxes	80,489			34,516			209,130	185,236
Net income	261,186	$ 215,849	$ 222,502	162,973	$ 206,340	$ 259,144	699,537	628,457
Reportable Legal Entities | Harley-Davidson Motor Company
Revenue:
Motorcycles and Related Products	1,439,894			1,167,432			4,015,779	3,742,869
Financial Services	0			0			0	0
Total revenue	1,439,894			1,167,432			4,015,779	3,742,869
Costs and expenses:
Motorcycles and Related Products cost of goods sold	946,656			850,193			2,721,913	2,586,264
Financial Services interest expense	0			0			0	0
Provision for credit losses	0			0			0	0
Selling, administrative and engineering expense	233,151			216,030			634,506	635,902
Restructuring expense (benefit)	3			517			(389)	731
Total costs and expenses	1,179,810			1,066,740			3,356,030	3,222,897
Operating income	260,084			100,692			659,749	519,972
Other income, net	9,358			858			30,443	1,825
Investment income (loss)	201,723			120,198			196,214	244,331
Interest expense	8,124			7,779			23,555	23,209
Income before provision for income taxes	463,041			213,969			862,851	742,919
Provision for income taxes	61,390			7,408			150,231	112,974
Net income	401,651			206,561			712,620	629,945
Reportable Legal Entities | Harley-Davidson Financial Services
Revenue:
Motorcycles and Related Products	0			0			0	0
Financial Services	212,100			202,080			607,876	590,468
Total revenue	212,100			202,080			607,876	590,468
Costs and expenses:
Motorcycles and Related Products cost of goods sold	0			0			0	0
Financial Services interest expense	60,740			44,770			150,488	149,098
Provision for credit losses	36,617			11,208			94,572	4,935
Selling, administrative and engineering expense	36,231			42,686			117,117	125,053
Restructuring expense (benefit)	0			98			0	436
Total costs and expenses	133,588			98,762			362,177	279,522
Operating income	78,512			103,318			245,699	310,946
Other income, net	0			0			0	0
Investment income (loss)	0			0			0	0
Interest expense	0			0			0	0
Income before provision for income taxes	78,512			103,318			245,699	310,946
Provision for income taxes	19,099			27,108			58,899	72,262
Net income	59,413			76,210			186,800	238,684
Consolidating Adjustments
Revenue:
Motorcycles and Related Products	(2,932)			(6,814)			(9,175)	(18,644)
Financial Services	(487)			2,612			(1,632)	5,182
Total revenue	(3,419)			(4,202)			(10,807)	(13,462)
Costs and expenses:
Motorcycles and Related Products cost of goods sold	0			0			0	0
Financial Services interest expense	0			0			0	0
Provision for credit losses	0			0			0	0
Selling, administrative and engineering expense	(3,541)			(4,404)			(10,924)	(13,290)
Restructuring expense (benefit)	0			0			0	0
Total costs and expenses	(3,541)			(4,404)			(10,924)	(13,290)
Operating income	122			202			117	(172)
Other income, net	0			0			0	0
Investment income (loss)	(200,000)			(120,000)			(200,000)	(240,000)
Interest expense	0			0			0	0
Income before provision for income taxes	(199,878)			(119,798)			(199,883)	(240,172)
Provision for income taxes	0			0			0	0
Net income	$ (199,878)			$ (119,798)			$ (199,883)	$ (240,172)

Supplemental Consolidating Da_4

Supplemental Consolidating Data - Balance Sheet (Details) - USD ($) $ in Thousands	Sep. 25, 2022	Jun. 26, 2022	Mar. 27, 2022	Dec. 31, 2021	Sep. 26, 2021	Jun. 27, 2021	Mar. 28, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 1,730,250			$ 1,874,745	$ 2,061,303
Accounts receivable, net	300,454			182,148	282,627
Finance receivables, net - current	1,807,718			1,465,544	1,540,822
Inventories, net	680,762			712,942	475,314
Restricted cash	287,264			128,935	153,873
Other current assets	205,734			185,777	194,481
Total current assets	5,012,182			4,550,091	4,708,420
Finance receivables, net	5,534,730			5,106,377	5,322,436
Property, plant and equipment, net	641,651			683,984	671,836
Pension and postretirement assets	424,784			386,152	132,958
Goodwill	60,440			63,177	63,841
Deferred income taxes	69,734			82,922	128,059
Lease assets	40,543			49,625	47,507
Other long-term assets	143,547			128,727	124,747
Assets	11,927,611			11,051,055	11,199,804
Current liabilities:
Accounts payable	438,534			374,978	382,216
Accrued liabilities	710,544			601,981	599,852
Short-term deposits, net	97,856			72,146	92,626
Short-term debt	692,551			751,286	749,620
Current portion of long-term debt, net	1,740,422			1,542,496	1,605,798
Total current liabilities	3,679,907			3,342,887	3,430,112
Long-term deposits, net	246,879			218,180	197,644
Long-term debt, net	4,738,234			4,595,617	4,876,292
Lease liabilities	23,836			29,904	26,017
Pension and postretirement liabilities	92,953				103,144
Deferred income taxes	8,312			9,261	8,585
Other long-term liabilities	297,280			206,663	224,116
Commitments and contingencies
Shareholders’ equity	2,840,210	$ 2,635,152	$ 2,509,101	2,553,244	2,333,894	$ 2,184,272	$ 1,976,386	$ 1,722,785
Total liabilities and shareholders' equity	11,927,611			$ 11,051,055	11,199,804
Reportable Legal Entities | Harley-Davidson Motor Company
Current assets:
Cash and cash equivalents	926,389				1,115,014
Accounts receivable, net	695,899				590,806
Finance receivables, net - current	0				0
Inventories, net	680,762				475,314
Restricted cash	100,000				0
Other current assets	167,999				114,221
Total current assets	2,571,049				2,295,355
Finance receivables, net	0				0
Property, plant and equipment, net	616,382				642,253
Pension and postretirement assets	424,784				132,958
Goodwill	60,440				63,841
Deferred income taxes	15,806				43,097
Lease assets	34,230				40,163
Other long-term assets	206,409				191,126
Assets	3,929,100				3,408,793
Current liabilities:
Accounts payable	414,448				361,057
Accrued liabilities	532,808				489,988
Short-term deposits, net	0				0
Short-term debt	0				0
Current portion of long-term debt, net	0				0
Total current liabilities	947,256				851,045
Long-term deposits, net	0				0
Long-term debt, net	745,192				744,494
Lease liabilities	17,524				19,457
Pension and postretirement liabilities	92,953				103,144
Deferred income taxes	32,199				7,166
Other long-term liabilities	157,112				173,178
Commitments and contingencies
Shareholders’ equity	1,936,864				1,510,309
Total liabilities and shareholders' equity	3,929,100				3,408,793
Reportable Legal Entities | Harley-Davidson Financial Services
Current assets:
Cash and cash equivalents	803,861				946,289
Accounts receivable, net	0				0
Finance receivables, net - current	1,807,718				1,540,822
Inventories, net	0				0
Restricted cash	187,264				153,873
Other current assets	54,251				94,868
Total current assets	2,853,094				2,735,852
Finance receivables, net	5,534,730				5,322,436
Property, plant and equipment, net	25,269				29,583
Pension and postretirement assets	0				0
Goodwill	0				0
Deferred income taxes	79,162				86,011
Lease assets	6,313				7,344
Other long-term assets	43,368				37,370
Assets	8,541,936				8,218,596
Current liabilities:
Accounts payable	419,531				329,338
Accrued liabilities	193,328				123,642
Short-term deposits, net	97,856				92,626
Short-term debt	692,551				749,620
Current portion of long-term debt, net	1,740,422				1,605,798
Total current liabilities	3,143,688				2,901,024
Long-term deposits, net	246,879				197,644
Long-term debt, net	3,993,042				4,131,798
Lease liabilities	6,312				6,560
Pension and postretirement liabilities	0				0
Deferred income taxes	582				1,419
Other long-term liabilities	138,027				48,586
Commitments and contingencies
Shareholders’ equity	1,013,406				931,565
Total liabilities and shareholders' equity	8,541,936				8,218,596
Consolidating Adjustments
Current assets:
Cash and cash equivalents	0				0
Accounts receivable, net	(395,445)				(308,179)
Finance receivables, net - current	0				0
Inventories, net	0				0
Restricted cash	0				0
Other current assets	(16,516)				(14,608)
Total current assets	(411,961)				(322,787)
Finance receivables, net	0				0
Property, plant and equipment, net	0				0
Pension and postretirement assets	0				0
Goodwill	0				0
Deferred income taxes	(25,234)				(1,049)
Lease assets	0				0
Other long-term assets	(106,230)				(103,749)
Assets	(543,425)				(427,585)
Current liabilities:
Accounts payable	(395,445)				(308,179)
Accrued liabilities	(15,592)				(13,778)
Short-term deposits, net	0				0
Short-term debt	0				0
Current portion of long-term debt, net	0				0
Total current liabilities	(411,037)				(321,957)
Long-term deposits, net	0				0
Long-term debt, net	0				0
Lease liabilities	0				0
Pension and postretirement liabilities	0				0
Deferred income taxes	(24,469)				0
Other long-term liabilities	2,141				2,352
Commitments and contingencies
Shareholders’ equity	(110,060)				(107,980)
Total liabilities and shareholders' equity	$ (543,425)				$ (427,585)

Supplemental Consolidating Da_5

Supplemental Consolidating Data - Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 25, 2022	Jun. 26, 2022	Mar. 27, 2022	Sep. 26, 2021	Jun. 27, 2021	Mar. 28, 2021	Sep. 25, 2022	Sep. 26, 2021
Cash flows from operating activities:
Net income	$ 261,186	$ 215,849	$ 222,502	$ 162,973	$ 206,340	$ 259,144	$ 699,537	$ 628,457
Adjustments to reconcile Net income to Net cash provided by operating activities:
Depreciation and amortization							114,867	122,483
Amortization of deferred loan origination costs							72,214	63,265
Amortization of financing origination fees							11,475	10,426
Provision for long-term employee benefits							(14,637)	19,640
Employee benefit plan contributions and payments							(4,766)	(14,677)
Stock compensation expense							33,595	34,032
Net change in wholesale finance receivables related to sales							(294,698)	(22,031)
Provision for credit losses	36,617			11,208			94,572	4,935
Deferred income taxes							(2,980)	10,626
Other, net							24,392	2,094
Changes in current assets and liabilities:
Accounts receivable, net							(150,726)	(148,670)
Finance receivables – accrued interest and other							3,566	11,088
Inventories, net							(6,577)	31,874
Accounts payable and accrued liabilities							37,745	168,306
Other current assets							(42,875)	3,703
Total adjustments							(124,833)	297,094
Net cash provided by operating activities							574,704	925,551
Cash flows from investing activities:
Capital expenditures							(84,947)	(61,476)
Origination of finance receivables							(3,773,830)	(3,444,953)
Collections on finance receivables							3,110,881	2,968,397
Other investing activities							2,160	2,485
Net cash used by investing activities							(745,736)	(535,547)
Cash flows from financing activities:
Proceeds from issuance of medium-term notes							495,785	0
Repayments of medium-term notes							(950,000)	(1,400,000)
Proceeds from securitization debt							1,826,891	1,169,910
Repayments of securitization debt							(1,054,939)	(1,013,820)
Borrowings of asset-backed commercial paper							448,255	27,406
Repayments of asset-backed commercial paper							(228,431)	(206,671)
Net decrease in unsecured commercial paper							(60,281)	(261,978)
Net increase in deposits							54,080	210,144
Deposit in advance of business combination							100,000
Dividends paid							(70,163)	(69,316)
Repurchase of common stock							(338,496)	(11,545)
Other financing activities							(1,237)	4,324
Net cash provided (used) by financing activities							221,464	(1,551,546)
Effect of exchange rate changes on cash, cash equivalents and restricted cash							(33,361)	(11,050)
Cash, cash equivalents and restricted cash:
Cash, cash equivalents and restricted cash, beginning of period			2,025,219			3,409,168	2,025,219	3,409,168
Net (decrease) increase in cash, cash equivalents and restricted cash							17,071	(1,172,592)
Cash, cash equivalents and restricted cash, end of period	2,042,290			2,236,576			2,042,290	2,236,576
Harley-Davidson Motor Company
Cash flows from financing activities:
Proceeds from securitization debt							0
Harley-Davidson Financial Services
Cash flows from financing activities:
Proceeds from securitization debt							1,826,891
Reportable Legal Entities | Harley-Davidson Motor Company
Cash flows from operating activities:
Net income	401,651			206,561			712,620	629,945
Adjustments to reconcile Net income to Net cash provided by operating activities:
Depreciation and amortization							108,485	115,779
Amortization of deferred loan origination costs							0	0
Amortization of financing origination fees							524	517
Provision for long-term employee benefits							(14,637)	19,640
Employee benefit plan contributions and payments							(4,766)	(14,677)
Stock compensation expense							31,418	31,089
Net change in wholesale finance receivables related to sales							0	0
Provision for credit losses	0			0			0	0
Deferred income taxes							1,981	4,710
Other, net							20,190	3,320
Changes in current assets and liabilities:
Accounts receivable, net							(443,645)	(379,821)
Finance receivables – accrued interest and other							0	0
Inventories, net							(6,577)	31,874
Accounts payable and accrued liabilities							22,075	162,088
Other current assets							(58,774)	(11,127)
Total adjustments							(343,726)	(36,608)
Net cash provided by operating activities							368,894	593,337
Cash flows from investing activities:
Capital expenditures							(82,153)	(59,128)
Origination of finance receivables							0	0
Collections on finance receivables							0	0
Other investing activities							2,160	2,485
Net cash used by investing activities							(79,993)	(56,643)
Cash flows from financing activities:
Proceeds from issuance of medium-term notes							0
Repayments of medium-term notes							0	0
Proceeds from securitization debt								0
Repayments of securitization debt							0	0
Borrowings of asset-backed commercial paper							0	0
Repayments of asset-backed commercial paper							0	0
Net decrease in unsecured commercial paper							0	0
Net increase in deposits							0	0
Deposit in advance of business combination							100,000
Dividends paid							(70,163)	(69,316)
Repurchase of common stock							(338,496)	(11,545)
Other financing activities							(1,237)	4,324
Net cash provided (used) by financing activities							(309,896)	(76,537)
Effect of exchange rate changes on cash, cash equivalents and restricted cash							(30,821)	(11,304)
Cash, cash equivalents and restricted cash:
Cash, cash equivalents and restricted cash, beginning of period			1,078,205			666,161	1,078,205	666,161
Net (decrease) increase in cash, cash equivalents and restricted cash							(51,816)	448,853
Cash, cash equivalents and restricted cash, end of period	1,026,389			1,115,014			1,026,389	1,115,014
Reportable Legal Entities | Harley-Davidson Financial Services
Cash flows from operating activities:
Net income	59,413			76,210			186,800	238,684
Adjustments to reconcile Net income to Net cash provided by operating activities:
Depreciation and amortization							6,382	6,704
Amortization of deferred loan origination costs							72,214	63,265
Amortization of financing origination fees							10,951	9,909
Provision for long-term employee benefits							0	0
Employee benefit plan contributions and payments							0	0
Stock compensation expense							2,177	2,943
Net change in wholesale finance receivables related to sales							0	0
Provision for credit losses	36,617			11,208			94,572	4,935
Deferred income taxes							(4,681)	6,028
Other, net							4,318	(1,397)
Changes in current assets and liabilities:
Accounts receivable, net							0	0
Finance receivables – accrued interest and other							3,566	11,088
Inventories, net							0	0
Accounts payable and accrued liabilities							321,594	247,740
Other current assets							2,615	3,952
Total adjustments							513,708	355,167
Net cash provided by operating activities							700,508	593,851
Cash flows from investing activities:
Capital expenditures							(2,794)	(2,348)
Origination of finance receivables							(6,642,296)	(6,157,658)
Collections on finance receivables							5,684,649	5,659,465
Other investing activities							0	0
Net cash used by investing activities							(960,441)	(500,541)
Cash flows from financing activities:
Proceeds from issuance of medium-term notes							495,785
Repayments of medium-term notes							(950,000)	(1,400,000)
Proceeds from securitization debt								1,169,910
Repayments of securitization debt							(1,054,939)	(1,013,820)
Borrowings of asset-backed commercial paper							448,255	27,406
Repayments of asset-backed commercial paper							(228,431)	(206,671)
Net decrease in unsecured commercial paper							(60,281)	(261,978)
Net increase in deposits							54,080	210,144
Deposit in advance of business combination							0
Dividends paid							(200,000)	(240,000)
Repurchase of common stock							0	0
Other financing activities							0	0
Net cash provided (used) by financing activities							331,360	(1,715,009)
Effect of exchange rate changes on cash, cash equivalents and restricted cash							(2,540)	254
Cash, cash equivalents and restricted cash:
Cash, cash equivalents and restricted cash, beginning of period			947,014			2,743,007	947,014	2,743,007
Net (decrease) increase in cash, cash equivalents and restricted cash							68,887	(1,621,445)
Cash, cash equivalents and restricted cash, end of period	1,015,901			1,121,562			1,015,901	1,121,562
Consolidating Adjustments
Cash flows from operating activities:
Net income	(199,878)			(119,798)			(199,883)	(240,172)
Adjustments to reconcile Net income to Net cash provided by operating activities:
Depreciation and amortization							0	0
Amortization of deferred loan origination costs							0	0
Amortization of financing origination fees							0	0
Provision for long-term employee benefits							0	0
Employee benefit plan contributions and payments							0	0
Stock compensation expense							0	0
Net change in wholesale finance receivables related to sales							(294,698)	(22,031)
Provision for credit losses	0			0			0	0
Deferred income taxes							(280)	(112)
Other, net							(116)	171
Changes in current assets and liabilities:
Accounts receivable, net							292,919	231,151
Finance receivables – accrued interest and other							0	0
Inventories, net							0	0
Accounts payable and accrued liabilities							(305,924)	(241,522)
Other current assets							13,284	10,878
Total adjustments							(294,815)	(21,465)
Net cash provided by operating activities							(494,698)	(261,637)
Cash flows from investing activities:
Capital expenditures							0	0
Origination of finance receivables							2,868,466	2,712,705
Collections on finance receivables							(2,573,768)	(2,691,068)
Other investing activities							0	0
Net cash used by investing activities							294,698	21,637
Cash flows from financing activities:
Proceeds from issuance of medium-term notes							0
Repayments of medium-term notes							0	0
Proceeds from securitization debt							0	0
Repayments of securitization debt							0	0
Borrowings of asset-backed commercial paper							0	0
Repayments of asset-backed commercial paper							0	0
Net decrease in unsecured commercial paper							0	0
Net increase in deposits							0	0
Deposit in advance of business combination							0
Dividends paid							200,000	240,000
Repurchase of common stock							0	0
Other financing activities							0	0
Net cash provided (used) by financing activities							200,000	240,000
Effect of exchange rate changes on cash, cash equivalents and restricted cash							0	0
Cash, cash equivalents and restricted cash:
Cash, cash equivalents and restricted cash, beginning of period			$ 0			$ 0	0	0
Net (decrease) increase in cash, cash equivalents and restricted cash							0	0
Cash, cash equivalents and restricted cash, end of period	$ 0			$ 0			$ 0	$ 0

Subsequent Event (Details)

Subsequent Event (Details) - USD ($) $ in Thousands		3 Months Ended	9 Months Ended
	Sep. 26, 2022	Sep. 25, 2022	Sep. 25, 2022	Sep. 26, 2021	Dec. 31, 2021
Subsequent Event
Deposits in advance of business combination			$ 100,000	$ 0
Restricted cash		$ 287,264	287,264	153,873	$ 128,935
Accrued liabilities		710,544	710,544	$ 599,852	$ 601,981
KYMCO
Subsequent Event
Deposits in advance of business combination		100,000
Restricted cash		100,000	100,000
Accrued liabilities		$ 100,000	$ 100,000
Subsequent Event | LiveWire
Subsequent Event
Payments to acquire business	$ 180,000
Equity interest (percent)	89.40%
Subsequent Event | LiveWire
Subsequent Event
Proceeds from divestiture of business	$ 294,000
Subsequent Event | KYMCO | LiveWire
Subsequent Event
Payments to acquire business	$ 100,000
Equity interest (percent)	4.90%
Subsequent Event | ABIC | LiveWire
Subsequent Event
Payments to acquire business	$ 14,000
Equity interest (percent)	5.70%