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, 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 September 30, For the Nine Months Ended September 30,
2024 2023 2024 2023
Construction contract revenue:
Firm fixed price $ 8,158  $ 6,616  $ 29,343  $ 21,898 
Guaranteed maximum price 6,318  2,817  28,410  11,561 
Cost-plus fee 1,868  2,205  4,574  7,472 
Other 318  311  1,196  1,081 
$ 16,662  $ 11,949  $ 63,523  $ 42,012 

We recognized an insignificant amount of revenue in the three and nine months ended September 30, 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 Nine Months Ended September 30,
2024 2023
Beginning balance $ 10,500  $ 7,618 
Ending balance $ 3,836  $ 5,367 

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,
2024 2023
Beginning balance $ 15,086  $ 22,331 
Ending balance $ 22,540  $ 8,356 
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,
2024 2023
Beginning balance $ 4,176  $ 2,867 
Ending balance $ 2,536  $ 3,938 
Portion of beginning balance recognized in revenue during:
Three months ended September 30,
 $ 87  $ 64 
Nine months ended September 30,
 $ 2,198  $ 164 

Revenue allocated to the remaining performance obligations under existing contracts as of September 30, 2024 that will be recognized as revenue in future periods was $22.7 million, most of which we expect to recognize in the three 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 September 30, 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.