Annual report pursuant to Section 13 and 15(d)

Construction Contract and Other Service Revenues (Tables)

v3.22.4
Construction Contract and Other Service Revenues (Tables)
 12 Months Ended
Dec. 31, 2022
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue The table below reports construction contract and other service revenues by compensation arrangement (in thousands):
For the Years Ended December 31,
2022 2021 2020
Construction contract revenue:
GMP $ 129,149  $ 68,113  $ 22,032 
FFP 15,119  13,897  12,373 
Cost-plus fee 8,320  24,260  34,025 
Other 2,044  1,606  2,210 
$ 154,632  $ 107,876  $ 70,640 

The table below reports construction contract and other service revenues by service type (in thousands):
For the Years Ended December 31,
2022 2021 2020
Construction contract revenue:
Construction $ 151,694  $ 104,020  $ 66,087 
Design 894  2,250  2,343 
Other 2,044  1,606  2,210 
$ 154,632  $ 107,876  $ 70,640 
Contract Asset, Contract Liability and Receivable
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,
2022 2021
Beginning balance $ 7,193  $ 13,997 
Ending balance $ 7,618  $ 7,193 

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,
2022 2021
Beginning balance $ 22,384  $ 10,343 
Ending balance $ 22,331  $ 22,384 

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,
2022 2021
Beginning balance $ 2,499  $ 4,610 
Ending balance $ 2,867  $ 2,499 
Portion of beginning balance recognized in revenue during the year $ 278  $ 2,664