Revenues (Tables)

9 Months Ended

Sep. 30, 2023

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


	Three Months Ended September 30,				Nine Months Ended September 30,
thousands	2023		2022		2023		2022
Revenues from contracts with customers
Recognized at a point in time:
Condominium rights and unit sales	$	25,962	$	418,645	$	46,915	$	459,681
Master Planned Communities land sales	75,378		52,585		177,045		199,032
Builder price participation	15,847		18,852		45,763		51,819
Total	117,187		490,082		269,723		710,532

Recognized at a point in time or over time:
Other land, rental, and property revenues	46,280		52,550		112,146		119,870


Rental and lease-related revenues
Rental revenue	105,192		96,917		306,395		296,081
Total revenues	$	268,659	$	639,549	$	688,264	$	1,126,483

Revenues by segment
Operating Assets revenues	$	116,874	$	109,493	$	339,226	$	327,742
Master Planned Communities revenues	95,799		78,188		236,123		266,990
Seaport revenues	29,490		32,501		64,191		70,053
Strategic Developments revenues	26,481		419,353		48,679		461,655
Corporate revenues	15		14		45		43
Total revenues	$	268,659	$	639,549	$	688,264	$	1,126,483

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	(115,302)
Consideration received during the period	201,571
Balance at September 30, 2023	$	544,100

Balance at December 31, 2021	$	431,177
Consideration earned during the period	(558,462)
Consideration received during the period	693,535
Balance at September 30, 2022	$	566,250

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		$	1,039,780	$	19,042		$	1,769,639