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Revenue
9 Months Ended
Sep. 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 endedNine months ended
September 30,
2024
September 30,
2023
September 30,
2024
September 30,
2023
HDMC:
Motorcycles$615,628 $1,023,090 $2,905,861 $3,216,387 
Parts and accessories174,301 184,809 534,359 568,001 
Apparel55,688 49,325 183,192 187,072 
Licensing3,897 9,586 18,312 20,912 
Other26,891 30,171 59,693 60,574 
876,405 1,296,981 3,701,417 4,052,946 
LiveWire4,808 8,144 15,958 22,932 
Motorcycles and related products revenue881,213 1,305,125 3,717,375 4,075,878 
HDFS:
Interest income232,990 207,673 666,903 586,752 
Other36,492 36,261 114,915 120,638 
Financial services revenue269,482 243,934 781,818 707,390 
$1,150,695 $1,549,059 $4,499,193 $4,783,268 
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):
September 30,
2024
September 30,
2023
Balance, beginning of period$47,091 $44,100 
Balance, end of period$54,792 $41,134 
Previously recorded contract liabilities recognized as revenue in the three months ended September 30, 2024 and September 30, 2023 were $7.3 million and $6.9 million, respectively, and $22.2 million and $20.2 million in the nine months ended September 30, 2024 and September 30, 2023, respectively. The Company expects to recognize approximately $22.9 million of the remaining unearned revenue over the next 12 months and $31.9 million thereafter.