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Construction Contract and Other Service Revenues | 9 Months Ended
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Sep. 30, 2022
Revenue from Contract with Customer [Abstract] |
Construction Contract and Other Service Revenues | Construction Contract and Other Service Revenues We disaggregate our construction contract and other service revenues by compensation arrangement and by service type as we believe it best depicts the nature, timing and uncertainty of our revenue. The table below reports construction contract and other service revenues by compensation arrangement (in thousands):
| For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Construction contract revenue: |  |  |  |  |  |  |
Guaranteed maximum price | $ | 27,928 |  |  | $ | 15,846 |  |  | $ | 112,354 |  |  | $ | 29,335 |
Firm fixed price | 3,121 |  |  | 7,042 |  |  | 9,822 |  |  | 10,954 |
Cost-plus fee | 3,196 |  |  | 4,742 |  |  | 6,757 |  |  | 23,075 |
Other | 568 |  |  | 416 |  |  | 1,637 |  |  | 1,228 |
| $ | 34,813 |  |  | $ | 28,046 |  |  | $ | 130,570 |  |  | $ | 64,592 |
The table below reports construction contract and other service revenues by service type (in thousands):
| For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Construction contract revenue: |  |  |  |  |  |  |
Construction | $ | 33,920 |  |  | $ | 26,893 |  |  | $ | 128,318 |  |  | $ | 61,477 |
Design | 325 |  |  | 737 |  |  | 615 |  |  | 1,887 |
Other | 568 |  |  | 416 |  |  | 1,637 |  |  | 1,228 |
| $ | 34,813 |  |  | $ | 28,046 |  |  | $ | 130,570 |  |  | $ | 64,592 |
We recognized an insignificant amount of revenue in the three and nine months ended September 30, 2022 and 2021 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,
| 2022 |  | 2021
Beginning balance | $ | 7,193 |  |  | $ | 13,997 |
Ending balance | $ | 6,283 |  |  | $ | 5,726 |
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 Nine Months Ended September 30,
| 2022 |  | 2021
Beginning balance | $ | 22,384 |  |  | $ | 10,343 |
Ending balance | $ | 26,562 |  |  | $ | 12,987 |
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,
| 2022 |  | 2021
Beginning balance | $ | 2,499 |  |  | $ | 4,610 |
Ending balance | $ | 5,846 |  |  | $ | 3,818 |
Portion of beginning balance recognized in revenue during: |  |  |
Three months ended September 30, | $ | 14 |  |  | $ | 9 |
Nine months ended September 30, | $ | 204 |  |  | $ | 2,626 |
Revenue allocated to the remaining performance obligations under existing contracts as of September 30, 2022 that will be recognized as revenue in future periods was $66.0 million, of which we expect to recognize approximately $14 million in the three months ending December 31, 2022 and the remainder in 2023. We have no deferred incremental costs incurred to obtain or fulfill our construction contracts or other service revenues as of September 30, 2022 and December 31, 2021. 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, and credit loss expense on construction contracts receivable and unbilled construction revenue was $412,000 and $463,000 for the three and nine months ended September 30, 2021, respectively.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI https://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 + Details
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