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Revenue
3 Months Ended
Mar. 31, 2024
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,
2024
March 31,
2023
HDMC:
Motorcycles$1,221,540 $1,302,378 
Parts and accessories166,193 167,671 
Apparel64,112 71,391 
Licensing8,930 6,210 
Other15,331 10,179 
1,476,106 1,557,829 
LiveWire4,704 7,762 
Motorcycles and related products revenue1,480,810 1,565,591 
HDFS:
Interest income211,335 182,270 
Other37,462 40,825 
Financial services revenue248,797 223,095 
$1,729,607 $1,788,686 
The Company maintains certain contract liability balances related to payments received at contract inception in advance
of the Company’s performance under the contract which generally relate to the sale of memberships, loyalty points earned under membership programs and certain insurance-related contracts. Contract liabilities are recognized as revenue as the Company performs under the contract. Contract liabilities, included in Accrued liabilities and Other long-term liabilities on the Consolidated balance sheets, was as follows (in thousands):
March 31,
2024
March 31,
2023
Balance, beginning of period$47,091 $44,100 
Balance, end of period$47,382 $43,176 
Previously deferred contract liabilities recognized as revenue in the three months ended March 31, 2024 and March 31, 2023 were $7.3 million and $6.8 million, respectively. The Company expects to recognize approximately $20.6 million of the remaining unearned revenue over the next 12 months and $26.8 million thereafter.