Revenues (Tables)

12 Months Ended

Dec. 31, 2021

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	2021		2020		2019
Revenues from contracts with customers
Recognized at a point in time
Condominium rights and unit sales	$	514,597	$	1,143	$	448,940
Master Planned Communities land sales	346,217		233,044		330,146
Builder price participation	45,138		37,072		35,681
Total	905,952		271,259		814,767
Recognized at a point in time or over time
Other land, rental and property revenues	152,619		105,048		206,966
Rental and lease-related revenues
Rental revenue	369,330		323,182		278,806
Total revenues	$	1,427,901	$	699,489	$	1,300,539
Revenues by segment
Operating Assets revenues	$	442,698	$	372,057	$	400,131
Master Planned Communities revenues	409,746		283,953		386,781
Seaport revenues	55,008		23,814		55,645
Strategic Developments revenues	520,109		19,407		457,948
Corporate revenues	340		258		34
Total revenues	$	1,427,901	$	699,489	$	1,300,539

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, 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
Consideration earned during the period	(584,115)
Consideration received during the period	654,876
Balance as of December 31, 2021	$	431,177

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		$	767,333	$	21,309		$	1,371,526