Revenue

6 Months Ended

Jun. 26, 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				Six months ended
	June 26, 2022		June 27, 2021		June 26, 2022		June 27, 2021
Motorcycles and Related Products Revenue:
Motorcycles	$	940,046	$	1,029,709	$	1,999,159	$	2,046,043
Parts and accessories	214,540		222,670		380,065		372,529
Apparel	77,327		55,631		128,734		105,954
Licensing	11,781		8,872		18,278		14,384
Other	22,777		14,618		43,406		24,697
	1,266,471		1,331,500		2,569,642		2,563,607
Financial Services Revenue:
Interest income	168,707		167,728		330,441		327,542
Other	33,909		32,830		64,190		63,416
	202,616		200,558		394,631		390,958
	$	1,469,087	$	1,532,058	$	2,964,273	$	2,954,565

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):

	June 26, 2022		June 27, 2021
Balance, beginning of period	$	40,092	$	36,614
Balance, end of period	$	47,061	$	38,934

Previously deferred revenue recognized as revenue in the three months ended June 26, 2022 and June 27, 2021 was $7.7 million and $5.7 million, respectively, and $15.4 million and $11.8 million in the six months ended June 26, 2022 and June 27, 2021, respectively. The Company expects to recognize approximately $19.3 million of the remaining unearned revenue over the next 12 months and $27.7 million thereafter.