Revenues (Tables)

6 Months Ended

Jun. 30, 2023

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


	Three Months Ended June 30,				Six Months Ended June 30,
thousands	2023		2022		2023		2022
Revenues from contracts with customers
Recognized at a point in time:
Condominium rights and unit sales	$	14,866	$	21,420	$	20,953	$	41,036
Master Planned Communities land sales	42,306		84,979		101,667		146,447
Builder price participation	15,907		18,471		29,916		32,967
Total	73,079		124,870		152,536		220,450

Recognized at a point in time or over time:
Other land, rental, and property revenues	46,898		47,783		65,866		67,320


Rental and lease-related revenues
Rental revenue	103,339		104,055		201,203		199,164




Total revenues	$	223,316	$	276,708	$	419,605	$	486,934

Revenues by segment
Operating Assets revenues	$	121,427	$	118,562	$	222,352	$	218,249
Master Planned Communities revenues	63,311		108,110		140,324		188,802
Seaport revenues	22,804		28,176		34,701		37,552
Strategic Developments revenues	15,758		21,846		22,198		42,302
Corporate revenues	16		14		30		29
Total revenues	$	223,316	$	276,708	$	419,605	$	486,934

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	(58,807)
Consideration received during the period	132,527
Balance at June 30, 2023	$	531,551

Balance at December 31, 2021	$	431,177
Consideration earned during the period	(102,087)
Consideration received during the period	175,343
Balance at June 30, 2022	$	504,433

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		$	156,490	$	787,750		$	1,742,826