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Revenue
6 Months Ended
Jun. 30, 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 endedSix months ended
June 30,
2024
June 30,
2023
June 30,
2024
June 30,
2023
HDMC:
Motorcycles$1,068,693 $890,919 $2,290,233 $2,193,297 
Parts and accessories193,865 215,520 360,058 383,192 
Apparel63,393 66,356 127,504 137,747 
Licensing5,485 5,116 14,414 11,326 
Other17,470 20,225 32,803 30,403 
1,348,906 1,198,136 2,825,012 2,755,965 
LiveWire6,448 7,026 11,152 14,788 
Motorcycles and related products revenue1,355,354 1,205,162 2,836,164 2,770,753 
HDFS:
Interest income222,578 196,809 433,913 379,079 
Other40,961 43,552 78,423 84,377 
Financial services revenue263,539 240,361 512,336 463,456 
$1,618,893 $1,445,523 $3,348,500 $3,234,209 
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):
June 30,
2024
June 30,
2023
Balance, beginning of period$47,091 $44,100 
Balance, end of period$52,717 $43,191 
Previously recorded contract liabilities recognized as revenue in the three months ended June 30, 2024 and June 30, 2023 were $7.6 million and $6.5 million, respectively, and $14.9 million and $13.4 million in the six months ended June 30, 2024 and June 30, 2023, respectively. The Company expects to recognize approximately $22.7 million of the remaining unearned revenue over the next 12 months and $30.0 million thereafter.