Revenue

6 Months Ended

Jun. 30, 2023

Revenue from Contract with Customer [Abstract]

Revenue

Revenue

The 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 30, 2023		June 26, 2022		June 30, 2023		June 26, 2022
HDMC:
Motorcycles	$	890,919	$	935,172	$	2,193,297	$	1,992,177
Parts and accessories	215,520		214,267		383,192		379,587
Apparel	66,356		77,325		137,747		128,729
Licensing	5,116		11,781		11,326		18,278
Other	20,225		15,420		30,403		27,964
	1,198,136		1,253,965		2,755,965		2,546,735
LiveWire	7,026		12,506		14,788		22,907
Motorcycles and related products revenue	1,205,162		1,266,471		2,770,753		2,569,642
HDFS:
Interest income	196,809		168,707		379,079		330,441
Other	43,552		33,909		84,377		64,190
Financial services revenue	240,361		202,616		463,456		394,631
	$	1,445,523	$	1,469,087	$	3,234,209	$	2,964,273

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 30, 2023		June 26, 2022
Balance, beginning of period	$	44,100	$	40,092
Balance, end of period	$	43,191	$	47,061

Previously deferred revenue recognized as revenue in the three months ended June 30, 2023 and June 26, 2022 was $6.5 million and $7.7 million, respectively, and $13.4 million and $15.4 million in the six months ended June 30, 2023 and June 26, 2022, respectively . The Company expects to recognize approximately $18.1 million of the remaining unearned revenue over the next 12 months and $25.1 million thereafter.