Revenues (Tables)

9 Months Ended

Sep. 30, 2020

Revenue from Contract with Customer [Abstract]

Revenue disaggregated by revenue source

The following table presents the Company’s revenues disaggregated by revenue source:

	Three Months Ended September 30,				Nine Months Ended September 30,
thousands	2020		2019		2020		2019
Revenues
From contracts with customers
Recognized at a point in time:
Condominium rights and unit sales	$	142	$	9,999	$	185	$	443,931
Master Planned Communities land sales	39,248		77,368		136,053		177,001
Builder price participation	9,230		9,660		25,936		24,224
Total revenue from contracts with customers	48,620		97,027		162,174		645,156
Recognized at a point in time and/or over time:
Other land, rental and property revenues	35,748		63,801		82,092		165,054
Total other income	35,748		63,801		82,092		165,054
Rental and lease-related revenues
Rental revenue	70,072		70,344		241,522		206,168
Total revenues	$	154,440	$	231,172	$	485,788	$	1,016,378
Revenues by segment
Operating Assets revenues	$	81,667	$	104,223	$	280,201	$	305,395
Master Planned Communities revenues	52,158		92,287		171,517		216,042
Seaport District revenues	4,204		23,130		16,170		43,051
Strategic Developments revenues	16,365		11,515		17,749		451,873
Corporate revenues	46		17		151		17
Total revenues	$	154,440	$	231,172	$	485,788	$	1,016,378

Contract with customer, assets and liabilities

The beginning and ending balances of contract liabilities and significant activity during the period are as follows:

thousands	Contract Liabilities
Balance as of December 31, 2019		$	246,010
Consideration earned during the period		(38,960		)
Consideration received during the period		138,291
Balance as of September 30, 2020		$	345,341

Remaining performance obligation, expected timing of satisfaction

The Company expects to recognize this amount as revenue over the following periods:

thousands	Less than 1 year			1-2 years		3 years and thereafter
Total remaining unsatisfied performance obligations		$	220,354	$	437,371		$	1,081,751