Quarterly report pursuant to Section 13 or 15(d)

Construction Contract and Other Service Revenues

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Construction Contract and Other Service Revenues
 9 Months Ended
Sep. 30, 2023
Revenue from Contract with Customer [Abstract]  
Construction Contract and Other Service Revenues Construction Contract and Other Service Revenues
We disaggregate in the table below our construction contract and other service revenues by compensation arrangement as we believe it best depicts the nature, timing and uncertainty of our revenue (in thousands):
For the Three Months Ended September 30, For the Nine Months Ended September 30,
2023 2022 2023 2022
Construction contract revenue:
Firm fixed price $ 6,616  $ 3,121  $ 21,898  $ 9,822 
Guaranteed maximum price 2,817  27,928  11,561  112,354 
Cost-plus fee 2,205  3,196  7,472  6,757 
Other 311  568  1,081  1,637 
$ 11,949  $ 34,813  $ 42,012  $ 130,570 

We recognized an insignificant amount of revenue in the three and nine months ended September 30, 2023 and 2022 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 Nine Months Ended September 30,
2023 2022
Beginning balance $ 7,618  $ 7,193 
Ending balance $ 5,367  $ 6,283 

Contract assets 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 Nine Months Ended September 30,
2023 2022
Beginning balance $ 22,331  $ 22,384 
Ending balance $ 8,356  $ 26,562 

Contract liabilities are included in other liabilities on our consolidated balance sheets. Changes in contract liabilities were as follows (in thousands):
For the Nine Months Ended September 30,
2023 2022
Beginning balance $ 2,867  $ 2,499 
Ending balance $ 3,938  $ 5,846 
Portion of beginning balance recognized in revenue during:
Three months ended September 30,
 $ 64  $ 14 
Nine months ended September 30,
 $ 164  $ 204 

Revenue allocated to the remaining performance obligations under existing contracts as of September 30, 2023 that will be recognized as revenue in future periods was $75.7 million, of which we expect to recognize approximately $23 million in the three months ending December 31, 2023 and the remainder in 2024.

We have no deferred incremental costs incurred to obtain or fulfill our construction contracts or other service revenues as of September 30, 2023 and December 31, 2022. Credit loss expense or recoveries on construction contracts receivable and unbilled construction revenue was insignificant for the three and nine months ended September 30, 2023. Credit loss recoveries on construction contracts receivable and unbilled construction revenue was $369,000 and $461,000 for the three and nine months ended September 30, 2022, respectively.