Revenue

6 Months Ended

Jun. 28, 2020

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 28, 2020		June 30, 2019		June 28, 2020		June 30, 2019
Motorcycles and Related Products Revenue:
Motorcycles	$	446,738	$	1,128,063	$	1,346,103	$	2,092,638
Parts & accessories	168,708		221,258		303,393		380,961
General merchandise	37,805		64,644		86,965		120,045
Licensing	4,903		9,911		12,932		18,488
Other	11,120		10,128		19,669		17,509
	669,274		1,434,004		1,769,062		2,629,641
Financial Services Revenue:
Interest income	168,261		167,077		338,262		326,881
Other	27,692		31,538		56,147		60,477
	195,953		198,615		394,409		387,358
	$	865,227	$	1,632,619	$	2,163,471	$	3,016,999

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 extended service plan contracts. 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 28, 2020		June 30, 2019
Balance, beginning of period	$	29,745	$	29,055
Balance, end of period	31,143		32,568

Previously deferred revenue recognized as revenue in the three months ended June 28, 2020 and June 30, 2019 was $7.9 million and $6.2 million, respectively, and $14.7 million and $12.3 million in the six months ended June 28, 2020 and June 30, 2019. The Company expects to recognize approximately $16.3 million of the remaining unearned revenue over the next 12 months and $14.8 million thereafter.