Revenues (Tables)

12 Months Ended

Dec. 31, 2023

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	2023		2022		2021
Revenues from contracts with customers
Recognized at a point in time:
Condominium rights and unit sales	$	47,707	$	677,078	$	514,597
Master Planned Communities land sales	370,185		316,065		346,217
Builder price participation	60,989		71,761		45,138
Total	478,881		1,064,904		905,952
Recognized at a point in time or over time:
Other land, rental, and property revenues	139,858		144,481		152,619
Rental and lease-related revenues
Rental revenue	405,363		399,103		369,330
Total revenues	$	1,024,102	$	1,608,488	$	1,427,901
Revenues by segment
Operating Assets revenues	$	443,632	$	431,834	$	442,698
Master Planned Communities revenues	448,452		408,365		409,746
Seaport revenues	81,971		88,468		55,008
Strategic Developments revenues	49,987		679,763		520,109
Corporate revenues	60		58		340
Total revenues	$	1,024,102	$	1,608,488	$	1,427,901

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, 2021	$	431,177
Consideration earned during the period	(799,401)
Consideration received during the period	826,055
Balance at December 31, 2022	$	457,831
Consideration earned during the period	(151,225)
Consideration received during the period	272,722
Balance at December 31, 2023	$	579,328

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		$	924,789	$	411,598		$	1,432,456