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Revenue
3 Months Ended
Mar. 27, 2022
Revenue from Contract with Customer [Abstract]  
Revenue RevenueThe 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
March 27,
2022
March 28,
2021
Motorcycles and Related Products Revenue:
Motorcycles$1,059,113 $1,016,334 
Parts and accessories165,525 149,859 
Apparel51,407 50,323 
Licensing6,497 5,512 
Other20,629 10,079 
1,303,171 1,232,107 
Financial Services Revenue:
Interest income161,734 159,814 
Other30,281 30,586 
192,015 190,400 
$1,495,186 $1,422,507 
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):
March 27,
2022
March 28,
2021
Balance, beginning of period$40,092 $36,614 
Balance, end of period$38,842 $36,266 
Previously deferred revenue recognized as revenue in the three months ended March 27, 2022 and March 28, 2021 was $7.7 million and $6.2 million, respectively. The Company expects to recognize approximately $17.5 million of the remaining unearned revenue over the next 12 months and $21.4 million thereafter.