Revenues (Tables)

9 Months Ended

Sep. 30, 2021

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


	Three Months Ended September 30,				Nine Months Ended September 30,
thousands	2021		2020		2021		2020
Revenues from contracts with customers
Recognized at a point in time:
Condominium rights and unit sales	$	163	$	142	$	50,191	$	185
Master Planned Communities land sales	56,305		39,248		152,124		136,053
Builder price participation	11,155		9,230		29,338		25,936
Total	67,623		48,620		231,653		162,174

Recognized at a point in time or over time:
Other land, rental and property revenues	56,350		35,748		120,982		82,092


Rental and lease-related revenues
Rental revenue	95,215		70,072		269,590		241,522




Total revenues	$	219,188	$	154,440	$	622,225	$	485,788

Revenues by segment
Operating Assets revenues	$	125,072	$	81,667	$	334,933	$	280,201
Master Planned Communities revenues	72,061		52,158		194,926		171,517
Seaport revenues	21,143		4,204		39,494		16,170
Strategic Developments revenues	809		16,365		52,575		17,749
Corporate revenues	103		46		297		151
Total revenues	$	219,188	$	154,440	$	622,225	$	485,788

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	(95,847)
Consideration received during the period	351,677
Balance as of September 30, 2021	$	616,246

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

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		$	1,314,945	$	21,221		$	1,093,345