v3.26.3
Revenues (Tables)
 9 Months Ended
Sep. 30, 2026
Revenue from Contract with Customer [Abstract]  
Summary of revenue disaggregated by revenue source
The following presents the Company’s revenues disaggregated by revenue source:
Three Months Ended September 30,Nine Months Ended September 30,
thousands2026202520262025
Revenues from contracts with customers
Condominium rights and unit sales$6,189 $142 $715,634 $677 
Master Planned Communities land sales133,657 248,467 404,166 445,150 
Builder price participation11,366 16,012 26,916 39,437 
Other revenues30,705 14,237 57,463 34,297 
Rental and lease-related revenues
Rental revenue115,852 111,377 343,599 330,882 
Insurance-related revenues
Net earned insurance premiums315,849 — 413,096 — 
Net insurance investment income22,678 — 33,666 — 
Total revenues$636,296 $390,235 $1,994,540 $850,443 
Summary of contract with customer, assets and liabilities The beginning and ending balances of contract liabilities and significant activity during the periods presented are as follows:
thousands
Balance at December 31, 2025
$896,896 
Consideration earned during the period(785,440)
Consideration received during the period694,059 
Balance at September 30, 2026
$805,515 
Balance at December 31, 2024
$584,536 
Consideration earned during the period(73,901)
Consideration received during the period308,900 
Balance at September 30, 2025
$819,535 
Summary of remaining performance obligation, expected timing of satisfaction The Company expects to recognize this amount as revenue over the following periods:
thousandsLess than 1 year1-2 years3 years and thereafter
Total remaining unsatisfied performance obligations$599,751 $62,591 $3,239,581