XML 23 R11.htm IDEA: XBRL DOCUMENT
v3.23.3

Revenues | 9 Months Ended
--- | ---
Sep. 30, 2023
Revenue from Contract with Customer [Abstract] |
Revenues | REVENUES The following tables present the Company’s consolidated revenues disaggregated by revenue source and reporting segment (in thousands):
| Three Months Ended September 30, 2023 |  | Nine Months Ended September 30, 2023
| Valencia |  | San Francisco |  | Great Park(1) |  | Commercial(1) |  | Total |  | Valencia |  | San Francisco |  | Great Park(1) |  | Commercial(1) |  | Total
Land sales and land sales—related party | $ | 60,694 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 60,694 |  |  | $ | 61,280 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 61,280 |
Management services—related party | — |  |  | — |  |  | 4,392 |  |  | 110 |  |  | 4,502 |  |  | — |  |  | — |  |  | 29,191 |  |  | 321 |  |  | 29,512 |
Operating properties | 250 |  |  | — |  |  | — |  |  | — |  |  | 250 |  |  | 749 |  |  | — |  |  | — |  |  | — |  |  | 749 |
| 60,944 |  |  | — |  |  | 4,392 |  |  | 110 |  |  | 65,446 |  |  | 62,029 |  |  | — |  |  | 29,191 |  |  | 321 |  |  | 91,541 |
Operating properties leasing revenues | 312 |  |  | 165 |  |  | — |  |  | — |  |  | 477 |  |  | 943 |  |  | 489 |  |  | — |  |  | — |  |  | 1,432 |
| $ | 61,256 |  |  | $ | 165 |  |  | $ | 4,392 |  |  | $ | 110 |  |  | $ | 65,923 |  |  | $ | 62,972 |  |  | $ | 489 |  |  | $ | 29,191 |  |  | $ | 321 |  |  | $ | 92,973 |
| Three Months Ended September 30, 2022 |  | Nine Months Ended September 30, 2022
| Valencia |  | San Francisco |  | Great Park(1) |  | Commercial(1) |  | Total |  | Valencia |  | San Francisco |  | Great Park(1) |  | Commercial(1) |  | Total
Land sales and land sales—related party | $ | 2,889 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2,889 |  |  | $ | 5,172 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 5,172 |
Management services—related party | — |  |  | — |  |  | 12,000 |  |  | 108 |  |  | 12,108 |  |  | — |  |  | — |  |  | 18,046 |  |  | 312 |  |  | 18,358 |
Operating properties | (46) |  |  | — |  |  | — |  |  | — |  |  | (46) |  |  | 870 |  |  | — |  |  | — |  |  | — |  |  | 870 |
| 2,843 |  |  | — |  |  | 12,000 |  |  | 108 |  |  | 14,951 |  |  | 6,042 |  |  | — |  |  | 18,046 |  |  | 312 |  |  | 24,400 |
Operating properties leasing revenues | 239 |  |  | 226 |  |  | — |  |  | — |  |  | 465 |  |  | 767 |  |  | 528 |  |  | — |  |  | — |  |  | 1,295 |
| $ | 3,082 |  |  | $ | 226 |  |  | $ | 12,000 |  |  | $ | 108 |  |  | $ | 15,416 |  |  | $ | 6,809 |  |  | $ | 528 |  |  | $ | 18,046 |  |  | $ | 312 |  |  | $ | 25,695 |
(1) The tables above do not include revenues of the Great Park Venture and the Gateway Commercial Venture, which are included in the Company’s reporting segment totals (see Notes 4 and 13). The opening and closing balances of the Company’s contract assets for the nine months ended September 30, 2023 were $86.5 million ($79.9 million related party, see Note 8) and $79.7 million ($75.6 million related party, see Note 8), respectively. The opening and closing balances of the Company’s contract assets for the nine months ended September 30, 2022 were $87.6 million ($79.1 million related party, see Note 8) and $93.9 million ($87.0 million related party, see Note 8), respectively. The decrease of $6.8 million for the nine months ended September 30, 2023 between the opening and closing balances of the Company’s contract assets primarily resulted from the receipt of marketing fees from homebuilders from prior period land sales and the receipt of $24.6 million in incentive compensation payments from the Great Park Venture partially offset by additional incentive compensation revenue earned during the period from the Company's amended and restated development management agreement ("A&R DMA") with the Great Park Venture (see Note 8). The increase of $6.3 million for the nine months ended September 30, 2022 between the opening and closing balances of the Company’s contract assets primarily resulted from additional incentive compensation revenue during the period that resulted from changes in the estimated constrained transaction price partially offset by the receipt of marketing fees from prior period land sales. The opening and closing balances of the Company’s other receivables from contracts with customers and contract liabilities for the nine months ended September 30, 2023 and 2022 were insignificant.

X
- References No definition available. + Details
Name: | us-gaap_RevenueFromContractWithCustomerAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org//606/tableOfContent + Details
Name: | us-gaap_RevenueFromContractWithCustomerTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration