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Revenue
9 Months Ended
Sep. 26, 2021
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 endedNine months ended
September 26,
2021
September 27,
2020
September 26,
2021
September 27,
2020
Motorcycles and Related Products Revenue:
Motorcycles$885,626 $684,344 $2,931,669 $2,030,448 
Parts & Accessories204,506 209,808 577,035 513,201 
General Merchandise49,424 49,356 155,378 136,321 
Licensing8,481 8,894 22,865 21,826 
Other12,581 11,627 37,278 31,295 
1,160,618 964,029 3,724,225 2,733,091 
Financial Services Revenue:
Interest income174,103 174,464 501,645 512,726 
Other30,589 27,191 94,005 83,338 
204,692 201,655 595,650 596,064 
$1,365,310 $1,165,684 $4,319,875 $3,329,155 
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 26,
2021
September 27,
2020
Balance, beginning of period$36,614 $29,745 
Balance, end of period$38,682 $31,209 
Previously deferred revenue recognized as revenue in the three months ended September 26, 2021 and September 27, 2020 was $6.1 million and $6.3 million, respectively, and $17.9 million and $19.6 million in the nine months ended September 26, 2021 and September 27, 2020, respectively. The Company expects to recognize approximately $15.0 million of the remaining unearned revenue over the next 12 months and $23.7 million thereafter.