Revenues (Tables)

3 Months Ended

Mar. 31, 2023

Revenue from Contract with Customer [Abstract]

Summary of revenue disaggregated by revenue source

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

	Three Months Ended March 31,
thousands	2023		2022
Revenues from contracts with customers
Recognized at a point in time:
Condominium rights and unit sales	$	6,087	$	19,616
Master Planned Communities land sales	59,361		61,468
Builder price participation	14,009		14,496
Total	79,457		95,580
Recognized at a point in time or over time:
Other land, rental, and property revenues	18,968		19,537
Rental and lease-related revenues
Rental revenue	97,864		95,109
Total revenues	$	196,289	$	210,226
Revenues by segment
Operating Assets revenues	$	100,925	$	99,687
Master Planned Communities revenues	77,013		80,692
Seaport revenues	11,897		9,376
Strategic Developments revenues	6,440		20,456
Corporate revenues	14		15
Total revenues	$	196,289	$	210,226

Summary of 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 at December 31, 2022	$	457,831
Consideration earned during the period	(16,919)
Consideration received during the period	78,366
Balance at March 31, 2023	$	519,278
Balance at December 31, 2021	$	431,177
Consideration earned during the period	(31,897)
Consideration received during the period	68,389
Balance at March 31, 2022	$	467,669

Summary of 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		$	80,538	$	795,483		$	1,700,181