HARLEY-DAVIDSON, INC.
For the period ended Dec 31, 2025. Filed Feb 26, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 26, 2026
HOG$34.20+4.7%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets
December 31, 2025 and 2024
| 2025 | 2024 | |
|---|---|---|
| ASSETS | ||
| Cash and cash equivalents | $3,091,744 | $1,589,608 |
| Accounts receivable, net | 225,760 | 234,315 |
| Finance receivables held for sale, net | 264,238 | — |
| Finance receivables held for investment, net of allowance of $5,591 and $72,244 | 981,926 | 2,031,496 |
| Inventories, net | 730,898 | 745,793 |
| Restricted cash | — | 135,661 |
| Other current assets | 292,383 | 259,764 |
| Current assets | 5,586,949 | 4,996,637 |
| Finance receivables held for investment, net of (recovery) allowance of $(7,826) and $328,939 | 719,060 | 5,256,798 |
| Property, plant and equipment, net | 750,224 | 757,072 |
| Pension and postretirement assets | 546,303 | 440,825 |
| Goodwill | 63,913 | 61,655 |
| Deferred income taxes | 73,792 | 175,826 |
| Lease assets | 82,542 | 63,853 |
| Other long-term assets | 222,032 | 128,913 |
| $8,044,815 | $11,881,579 | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||
| Accounts payable | $389,237 | $298,718 |
| Accrued liabilities | 671,957 | 593,960 |
| Short-term deposits, net | 280,095 | 173,099 |
| Short-term debt | 497,776 | 640,204 |
| Current portion of long-term debt, net | 819,629 | 1,851,513 |
| Current liabilities | 2,658,694 | 3,557,494 |
| Long-term deposits, net | 256,549 | 377,487 |
| Long-term debt, net | 1,649,612 | 4,468,665 |
| Lease liabilities | 69,425 | 47,420 |
| Pension and postretirement liabilities | 53,135 | 53,874 |
| Deferred income taxes | 5,506 | 16,889 |
| Other long-term liabilities | 195,044 | 201,250 |
| Commitments and contingencies (Note 15) | ||
| Shareholders’ equity: | ||
| Preferred stock, none issued | — | — |
| Common stock (Note 4) | 1,726 | 1,720 |
| Additional paid-in-capital | 1,790,175 | 1,792,523 |
| Retained earnings | 3,717,408 | 3,465,058 |
| Accumulated other comprehensive loss | (257,137) | (332,706) |
| Treasury stock, at cost (Note 4) | (2,111,504) | (1,760,548) |
| Total Harley-Davidson, Inc. shareholders' equity | 3,140,668 | 3,166,047 |
| Noncontrolling interest | 16,182 | (7,547) |
| Total equity | 3,156,850 | 3,158,500 |
| $8,044,815 | $11,881,579 | |
CONSOLIDATED BALANCE SHEETS (continued)
December 31, 2025 and 2024
| 2025 | 2024 | |
|---|---|---|
| Balances held by consolidated variable interest entities (Note 11) | ||
| Finance receivables held for investment, net - current | $— | $618,231 |
| Other assets | $— | $7,364 |
| Finance receivables held for investment, net - long-term | $— | $2,174,160 |
| Restricted cash - current and long-term | $— | $146,511 |
| Current portion of long-term debt, net | $— | $683,272 |
| Long-term debt, net | $— | $1,698,712 |
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