Revenue

9 Months Ended

Sep. 27, 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				Nine months ended
	September 27, 2020		September 29, 2019		September 27, 2020		September 29, 2019
Motorcycles and Related Products Revenue:
Motorcycles	$	684,344	$	779,344	$	2,030,447	$	2,871,982
Parts & Accessories	209,808		203,173		513,201		584,134
General Merchandise	49,356		60,334		136,321		180,379
Licensing	8,894		8,611		21,826		27,099
Other	11,627		17,480		31,296		34,989
	964,029		1,068,942		2,733,091		3,698,583
Financial Services Revenue:
Interest income	174,464		175,840		512,726		502,721
Other	27,191		27,737		83,338		88,214
	201,655		203,577		596,064		590,935
	$	1,165,684	$	1,272,519	$	3,329,155	$	4,289,518

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):

	September 27, 2020		September 29, 2019
Balance, beginning of period	$	29,745	$	29,055
Balance, end of period	$	31,209	$	32,374

Previously deferred revenue recognized as revenue in the three months ended September 27, 2020 and September 29, 2019 was $6.3 million and $6.0 million, respectively, and $19.6 million and $18.3 million in the nine months ended September 27, 2020 and September 29, 2019. The Company expects to recognize approximately $15.3 million of the remaining unearned revenue over the next 12 months and $15.9 million thereafter.