REVENUES (Tables)

12 Months Ended

Dec. 31, 2020

Revenue from Contract with Customer [Abstract]

Revenue disaggregated by revenue source

The following presents the Company’s revenues disaggregated by revenue source for the years ended December 31:

thousands	2020		2019		2018
Revenues from contracts with customers
Recognized at a point in time
Condominium rights and unit sales	$	1,143	$	448,940	$	357,720
Master Planned Communities land sales	233,044		330,146		261,905
Builder price participation	37,072		35,681		27,085
Total	271,259		814,767		646,710
Recognized at a point in time or over time
Other land, rental and property revenues	105,048		206,966		160,519
Rental and lease-related revenues
Rental revenue	323,182		278,806		257,308
Total revenues	$	699,489	$	1,300,539	$	1,064,537
Revenues by segment
Operating Assets revenues	$	372,057	$	400,131	$	348,242
Master Planned Communities revenues	283,953		386,781		309,451
Seaport revenues	23,814		55,645		32,632
Strategic Developments revenues	19,407		457,948		374,212
Corporate revenues	258		34		—
Total revenues	$	699,489	$	1,300,539	$	1,064,537

Contract with customer, assets and liabilities

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

thousands	Contract Liabilities
Balance as of December 31, 2018	$	296,496
Consideration earned during the period	(490,137)
Consideration received during the period	439,651
Balance as of December 31, 2019	246,010
Consideration earned during the period	(55,696)
Consideration received during the period	170,102
Balance as of December 31, 2020	$	360,416

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		$	589,860	$	521,957		$	628,837