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
 3 Months Ended
Mar. 31, 2024
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 March 31,
2024 2023
Construction contract revenue:
Guaranteed maximum price $ 13,640  $ 6,743 
Firm fixed price 10,900  5,879 
Cost-plus fee 1,486  2,709 
Other 577  489 
$ 26,603  $ 15,820 

We recognized an insignificant amount of revenue in the three months ended March 31, 2024 and 2023 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 Three Months Ended March 31,
2024 2023
Beginning balance $ 10,500  $ 7,618 
Ending balance $ 12,734  $ 6,786 

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 Three Months Ended March 31,
2024 2023
Beginning balance $ 15,086  $ 22,331 
Ending balance $ 25,857  $ 20,619 
Contract liabilities are included in other liabilities on our consolidated balance sheets. Changes in contract liabilities were as follows (in thousands):
For the Three Months Ended March 31,
2024 2023
Beginning balance $ 4,176  $ 2,867 
Ending balance $ 2,783  $ 3,399 
Portion of beginning balance recognized in revenue during period $ 1,487  $ 77 

Revenue allocated to the remaining performance obligations under existing contracts as of March 31, 2024 that will be recognized as revenue in future periods was $49.3 million, all of which we expect to recognize in the nine months ending December 31, 2024.

We have no deferred incremental costs incurred to obtain or fulfill our construction contracts or other service revenues as of March 31, 2024 and December 31, 2023. Credit loss expense or recoveries on construction contracts receivable and unbilled construction revenue were insignificant for the periods reported herein.