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Revenue
3 Months Ended
Mar. 31, 2023
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
March 31,
2023
March 27,
2022
HDMC:
Motorcycles$1,302,378 $1,057,005 
Parts and accessories167,671 165,320 
Apparel71,391 51,404 
Licensing6,210 6,497 
Other10,179 12,544 
1,557,829 1,292,770 
LiveWire7,762 10,401 
Motorcycles and related products revenue1,565,591 1,303,171 
HDFS:
Interest income182,270 161,734 
Other40,825 30,281 
Financial services revenue223,095 192,015 
$1,788,686 $1,495,186 
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):
March 31,
2023
March 27,
2022
Balance, beginning of period$44,100 $40,092 
Balance, end of period$43,176 $38,842 
Previously deferred revenue recognized as revenue in the three months ended March 31, 2023 and March 27, 2022 was $6.8 million and $7.7 million, respectively. The Company expects to recognize approximately $17.8 million of the remaining unearned revenue over the next 12 months and $25.4 million thereafter.