Revenues (Tables)

9 Months Ended

Sep. 30, 2025

The following presents the Company’s revenues disaggregated by revenue source:


	Three Months Ended September 30,				Nine Months Ended September 30,
thousands	2025		2024		2025		2024
Revenues from contracts with customers
Recognized at a point in time:
Condominium rights and unit sales	$	142	$	3	$	677	$	26
Master Planned Communities land sales	248,467		198,239		445,150		385,444
Builder price participation	16,012		9,592		39,437		35,063
Total	264,621		207,834		485,264		420,533

Recognized at a point in time or over time:
Other land, rental, and property revenues	14,237		10,700		34,297		31,105

Rental and lease-related revenues
Rental revenue	111,377		108,613		330,882		315,461
Total revenues	$	390,235	$	327,147	$	850,443	$	767,099

The beginning and ending balances of contract liabilities and significant activity during the periods presented are as follows:


thousands
Balance at December 31, 2024	$	584,536
Consideration earned during the period	(73,901)
Consideration received during the period	308,900
Balance at September 30, 2025	$	819,535

Balance at December 31, 2023	$	575,621
Consideration earned during the period	(79,388)
Consideration received during the period	328,893
Balance at September 30, 2024	$	825,126

The Company expects to recognize this amount as revenue over the following periods:


thousands	Less than 1 year			1-2 years		3 years and thereafter
Total remaining unsatisfied performance obligations		$	1,279,933	$	434,183		$	2,786,837

Howard Hughes Holdings Inc. 10-Q