COPT Defense Properties Quarterly report pursuant to Section 13 or 15(d)

Construction Contract and Other Service Revenues (Tables)

3 Months Ended

Mar. 31, 2021

The table below reports construction contract and other service revenues by compensation arrangement (in thousands):


	For the Three Months Ended March 31,
	2021		2020
Construction contract revenue:
Cost-plus fee	$	12,486	$	3,309
Guaranteed maximum price	2,101		5,044
Firm fixed price	1,471		5,072
Other	500		256
	$	16,558	$	13,681

The table below reports construction contract and other service revenues by service type (in thousands):


	For the Three Months Ended March 31,
	2021		2020
Construction contract revenue:
Construction	$	15,756	$	12,883
Design	302		542
Other	500		256
	$	16,558	$	13,681

The beginning and ending balances of accounts receivable related to our construction contracts were as follows (in thousands):


	For the Three Months Ended March 31,
	2021		2020
Beginning balance	$	13,997	$	12,378
Ending balance	$	7,283	$	10,852

The beginning and ending balances of our contract assets were as follows (in thousands):


	For the Three Months Ended March 31,
	2021		2020
Beginning balance	$	10,343	$	17,223
Ending balance	$	13,046	$	7,463

Changes in contract liabilities were as follows (in thousands):


	For the Three Months Ended March 31,
	2021		2020
Beginning balance	$	4,610	$	1,184
Ending balance	$	6,193	$	1,417

Portion of beginning balance recognized in revenue during period	$	547	$	646