Deferred Income

3 Months Ended

Mar. 31, 2023

Revenue from Contract with Customer [Abstract]

Deferred Income

Deferred Income

In previous years, we sold properties to related parties at a gain, and therefore the sales criteria for the full accrual method was not met, and as such, we deferred the gain recognition and accounted for the sales by applying the finance, deposit, installment or cost recovery methods, as appropriate. The gain on these transactions is deferred until the properties are sold to a non-related third party.

As of March 31, 2023 and December 31, 2022, we had deferred gain of $581.