Annual report pursuant to Section 13 and 15(d)

Construction Contract and Other Service Revenues

v3.22.0.1
Construction Contract and Other Service Revenues
 12 Months Ended
Dec. 31, 2021
Revenue from Contract with Customer [Abstract]  
Construction Contract and Other Service Revenues Construction Contract and Other Service Revenues
We disaggregate our construction contract and other service revenues by compensation arrangement and by service type as we believe it best depicts the nature, timing and uncertainty of our revenue. The table below reports construction contract and other service revenues by compensation arrangement (in thousands):
For the Years Ended December 31,
2021 2020 2019
Construction contract revenue:
GMP $ 68,113  $ 22,032  $ 67,708 
Cost-plus fee 24,260  34,025  34,386 
FFP 13,897  12,373  10,688 
Other 1,606  2,210  981 
$ 107,876  $ 70,640  $ 113,763 

The table below reports construction contract and other service revenues by service type (in thousands):
For the Years Ended December 31,
2021 2020 2019
Construction contract revenue:
Construction $ 104,020  $ 66,087  $ 112,170 
Design 2,250  2,343  612 
Other 1,606  2,210  981 
$ 107,876  $ 70,640  $ 113,763 

We derived 79% of our construction contract revenue from the USG in 2021, 55% in 2020 and 74% in 2019.

We recognized an insignificant amount of revenue in 2021, 2020 and 2019 from performance obligations satisfied (or partially satisfied) in previous periods.

Accounts receivable related to our construction contract services is included in accounts receivable, net on our consolidated balance sheets. The beginning and ending balances of accounts receivable related to our construction contracts were as follows (in thousands):
For the Years Ended December 31,
2021 2020
Beginning balance $ 13,997  $ 12,378 
Ending balance $ 7,193  $ 13,997 

Contract assets, which we refer to herein as construction contract costs in excess of billings, net, are included in prepaid expenses and other assets, net on our consolidated balance sheets. The beginning and ending balances of our contract assets were as follows (in thousands):
For the Years Ended December 31,
2021 2020
Beginning balance $ 10,343  $ 17,223 
Ending balance $ 22,384  $ 10,343 

Contract liabilities are included in other liabilities on our consolidated balance sheets. Changes in contract liabilities were as follows (in thousands):
For the Years Ended December 31,
2021 2020
Beginning balance $ 4,610  $ 1,184 
Ending balance $ 2,499  $ 4,610 
Portion of beginning balance recognized in revenue during the year $ 2,664  $ 757 

Revenue allocated to the remaining performance obligations under existing contracts as of December 31, 2021 that will be recognized as revenue in future periods was $147.8 million, of which we expect to recognize approximately $98 million in 2022.
We have no deferred incremental costs incurred to obtain or fulfill our construction contracts or other service revenues as of December 31, 2021 and December 31, 2020. Our credit loss expense on construction contracts receivable or unbilled construction revenue was $211,000 in 2021 and $528,000 in 2020, and was insignificant in 2019.