Revenues (Tables)

3 Months Ended

Mar. 31, 2022

Revenue from Contract with Customer [Abstract]

Revenue disaggregated by revenue source

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

	Three Months Ended March 31,
thousands	2022		2021
Revenues from contracts with customers
Recognized at a point in time:
Condominium rights and unit sales	$	19,616	$	37,167
Master Planned Communities land sales	61,468		37,477
Builder price participation	14,496		6,794
Total	95,580		81,438
Recognized at a point in time or over time:
Other land, rental and property revenues	19,537		23,243
Rental and lease-related revenues
Rental revenue	95,109		85,899
Total revenues	$	210,226	$	190,580
Revenues by segment
Operating Assets revenues	$	99,687	$	96,439
Master Planned Communities revenues	80,692		48,287
Seaport revenues	9,376		7,453
Strategic Developments revenues	20,456		38,300
Corporate revenues	15		101
Total revenues	$	210,226	$	190,580

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, 2021	$	431,177
Consideration earned during the period	(31,897)
Consideration received during the period	68,389
Balance as of March 31, 2022	$	467,669
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

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		Thereafter
Total remaining unsatisfied performance obligations		$	798,793	$	793,184		$	635,819