Revenue

9 Months Ended

Sep. 25, 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				Nine months ended
	September 25, 2022		September 26, 2021		September 25, 2022		September 26, 2021
Motorcycles and Related Products Revenue:
Motorcycles	$	1,133,558	$	885,626	$	3,132,717	$	2,931,669
Parts and accessories	201,003		204,506		581,068		577,035
Apparel	69,834		49,424		198,568		155,378
Licensing	10,662		8,481		28,940		22,865
Other	21,905		12,581		65,311		37,278
	1,436,962		1,160,618		4,006,604		3,724,225
Financial Services Revenue:
Interest income	179,261		174,103		509,702		501,645
Other	32,352		30,589		96,542		94,005
	211,613		204,692		606,244		595,650
	$	1,648,575	$	1,365,310	$	4,612,848	$	4,319,875

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 25, 2022		September 26, 2021
Balance, beginning of period	$	40,092	$	36,614
Balance, end of period	$	45,746	$	38,682

Previously deferred revenue recognized as revenue in the three months ended September 25, 2022 and September 26, 2021 was $7.0 million and $6.1 million, respectively, and $22.4 million and $17.9 million in the nine months ended September 25, 2022 and September 26, 2021, respectively. The Company expects to recognize approximately $18.2 million of the remaining unearned revenue over the next 12 months and $27.6 million thereafter.