Quarterly report [Sections 13 or 15(d)]

Construction Contract and Other Service Revenues (Tables)

v3.25.1
Construction Contract and Other Service Revenues (Tables)
 3 Months Ended
Mar. 31, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Construction Contract and Other Service Revenues by Compensation Arrangement
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,
2025 2024
Construction contract revenue
Firm fixed price $ 6,277  $ 10,900 
Guaranteed maximum price 2,630  13,640 
Cost-plus fee 1,071  1,486 
Other 281  577 
$ 10,259  $ 26,603 
Schedule of Accounts Receivable, Contract Assets and Contract Liabilities 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,
2025 2024
Beginning balance $ 8,828  $ 10,500 
Ending balance $ 4,328  $ 12,734 
The beginning and ending balances of our contract assets were as follows (in thousands):
For the Three Months Ended March 31,
2025 2024
Beginning balance $ 17,050  $ 15,086 
Ending balance $ 10,239  $ 25,857 
Changes in contract liabilities were as follows (in thousands):
For the Three Months Ended March 31,
2025 2024
Beginning balance $ 2,016  $ 4,176 
Ending balance $ 2,401  $ 2,783 
Portion of beginning balance recognized in revenue during period $ 100  $ 1,487