Revenues (Tables)

3 Months Ended

Mar. 31, 2021

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 March 31,
thousands	2021		2020
Revenues from contracts with customers
Recognized at a point in time:
Condominium rights and unit sales	$	37,167	$	43
Master Planned Communities land sales	37,477		39,732
Builder price participation	6,794		7,759
Total	81,438		47,534
Recognized at a point in time or over time:
Other land, rental and property revenues	23,243		34,897
Rental and lease-related revenues
Rental revenue	85,899		92,744
Total revenues	$	190,580	$	175,175
Revenues by segment
Operating Assets revenues	$	96,439	$	114,257
Master Planned Communities revenues	48,287		50,446
Seaport revenues	7,453		9,694
Strategic Developments revenues	38,300		760
Corporate revenues	101		18
Total revenues	$	190,580	$	175,175

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, 2020	$	360,416
Consideration earned during the period	(43,967)
Consideration received during the period	61,221
Balance as of March 31, 2021	$	377,670
Balance as of December 31, 2019	$	246,010
Consideration earned during the period	(17,885)
Consideration received during the period	64,432
Balance as of March 31, 2020	$	292,557

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		$	725,912	$	528,989		$	685,474