Revenue

9 Months Ended

Sep. 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				Nine months ended
	September 30, 2023		September 25, 2022		September 30, 2023		September 25, 2022
HDMC:
Motorcycles	$	1,023,090	$	1,128,920	$	3,216,387	$	3,121,097
Parts and accessories	184,809		200,708		568,001		580,295
Apparel	49,325		69,819		187,072		198,560
Licensing	9,586		10,662		20,912		28,940
Other	30,171		12,145		60,574		40,097
	1,296,981		1,422,254		4,052,946		3,968,989
LiveWire	8,144		14,708		22,932		37,615
Motorcycles and related products revenue	1,305,125		1,436,962		4,075,878		4,006,604
HDFS:
Interest income	207,673		179,261		586,752		509,702
Other	36,261		32,352		120,638		96,542
Financial services revenue	243,934		211,613		707,390		606,244
	$	1,549,059	$	1,648,575	$	4,783,268	$	4,612,848

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 30, 2023		September 25, 2022
Balance, beginning of period	$	44,100	$	40,092
Balance, end of period	$	41,134	$	45,746

Previously deferred revenue recognized as revenue in the three months ended September 30, 2023 and September 25, 2022 was $6.9 million and $7.0 million, respectively, and $20.2 million and $22.4 million in the nine months ended September 30, 2023 and September 25, 2022, respectively . The Company expects to recognize approximately $17.1 million of the remaining unearned revenue over the next 12 months and $24.0 million thereafter.