CTO Realty Growth, Inc. Revenue Disclosure
NOTE 3. REVENUE RECOGNITION
The following table summarizes the Company’s revenue from continuing operations by segment, major good and/or service, and the related timing of revenue recognition for the year ended December 31, 2021 (in thousands):
Income Properties | Management Services | Commercial Loan and Master Lease Investments | Real Estate Operations | Total Revenues | ||||||||||||
Major Good / Service: | ||||||||||||||||
Lease Revenue - Base Rent | $ | 41,151 | $ | — | $ | — | $ | — | $ | 41,151 | ||||||
Lease Revenue - CAM | 3,791 | — | — | — | 3,791 | |||||||||||
Lease Revenue - Reimbursements | 4,763 | — | — | — | 4,763 | |||||||||||
Lease Revenue - Billboards | 6 | — | — | — | 6 | |||||||||||
Above / Below Market Lease Accretion | 404 | — | — | — | 404 | |||||||||||
Contributed Leased Assets Accretion | 236 | — | — | — | 236 | |||||||||||
Management Services | — | 3,305 | — | — | 3,305 | |||||||||||
Commercial Loan and Master Lease Investments | — | — | 2,861 | — | 2,861 | |||||||||||
Mitigation Credit Sales | — | — | — | 708 | 708 | |||||||||||
Subsurface Revenue - Other | — | — | — | 4,724 | 4,724 | |||||||||||
Land Sales Revenue | — | — | — | 7,995 | 7,995 | |||||||||||
Interest and Other Revenue | 328 | — | — | — | 328 | |||||||||||
Total Revenues | $ | 50,679 | $ | 3,305 | $ | 2,861 | $ | 13,427 | $ | 70,272 | ||||||
Timing of Revenue Recognition: | ||||||||||||||||
Asset/Good Transferred at a Point in Time | $ | — | $ | — | $ | — | $ | 13,427 | $ | 13,427 | ||||||
Services Transferred Over Time | 328 | 3,305 | — | — | 3,633 | |||||||||||
Over Lease Term | 50,351 | — | — | — | 50,351 | |||||||||||
Commercial Loan and Master Lease Investments Related Revenue | — | — | 2,861 | — | 2,861 | |||||||||||
Total Revenues | $ | 50,679 | $ | 3,305 | $ | 2,861 | $ | 13,427 | $ | 70,272 | ||||||
The following table summarizes the Company’s revenue from continuing operations by segment, major good and/or service, and the related timing of revenue recognition for the year ended December 31, 2020 (in thousands):
Income Properties | Management Services | Commercial Loan and Master Lease Investments | Real Estate Operations | Total Revenues | ||||||||||||
Major Good / Service: | ||||||||||||||||
Lease Revenue - Base Rent | $ | 37,826 | $ | — | $ | — | $ | — | $ | 37,826 | ||||||
Lease Revenue - CAM | 3,154 | — | — | — | 3,154 | |||||||||||
Lease Revenue - Reimbursements | 6,182 | — | — | — | 6,182 | |||||||||||
Lease Revenue - Billboards | 231 | — | — | — | 231 | |||||||||||
Above / Below Market Lease Accretion | 1,754 | — | — | — | 1,754 | |||||||||||
Contributed Leased Assets Accretion | 245 | — | — | — | 245 | |||||||||||
Management Services | — | 2,744 | — | — | 2,744 | |||||||||||
Commercial Loan and Master Lease Investments | — | — | 3,034 | — | 3,034 | |||||||||||
Mitigation Credit Sales | — | — | — | 6 | 6 | |||||||||||
Subsurface Revenue - Other | — | — | — | 638 | 638 | |||||||||||
Fill Dirt and Other Revenue | — | — | — | 6 | 6 | |||||||||||
Interest and Other Revenue | 561 | — | — | — | 561 | |||||||||||
Total Revenues | $ | 49,953 | $ | 2,744 | $ | 3,034 | $ | 650 | $ | 56,381 | ||||||
Timing of Revenue Recognition: | ||||||||||||||||
Asset/Good Transferred at a Point in Time | $ | — | $ | — | $ | — | $ | 6 | $ | 6 | ||||||
Services Transferred Over Time | 561 | 2,744 | — | 644 | 3,949 | |||||||||||
Over Lease Term | 49,392 | — | — | — | 49,392 | |||||||||||
Commercial Loan and Master Lease Investments Related Revenue | — | — | 3,034 | — | 3,034 | |||||||||||
Total Revenues | $ | 49,953 | $ | 2,744 | $ | 3,034 | $ | 650 | $ | 56,381 | ||||||
The following table summarizes the Company’s revenue from continuing operations by segment, major good and/or service, and the related timing of revenue recognition for the year ended December 31, 2019 (in thousands):
| Income Properties | Management Services |
| Commercial Loan and Master Lease Investments |
| Real Estate Operations |
| Total Revenues | ||||||||
Major Good / Service: | ||||||||||||||||
Lease Revenue - Base Rent | $ | 35,108 | $ | — | $ | — | $ | — | $ | 35,108 | ||||||
Lease Revenue - CAM | 1,422 | — | — | — | 1,422 | |||||||||||
Lease Revenue - Reimbursements | 2,759 | — | — | — | 2,759 | |||||||||||
Lease Revenue - Billboards | 243 | — | — | — | 243 | |||||||||||
Above / Below Market Lease Accretion | 2,383 | — | — | — | 2,383 | |||||||||||
Contributed Leased Assets Accretion | 217 | — | — | — | 217 | |||||||||||
Lease Incentive Amortization | (277) | — | — | — | (277) | |||||||||||
Management Services | — | 304 | — | — | 304 | |||||||||||
Commercial Loan and Master Lease Investments | — | — | 1,829 | — | 1,829 | |||||||||||
Subsurface Lease Revenue | — | — | — | 598 | 598 | |||||||||||
Subsurface Revenue - Other | — | — | — | 150 | 150 | |||||||||||
Fill Dirt and Other Revenue | — | — | — | 104 | 104 | |||||||||||
Interest and Other Revenue | 101 | — | — | — | 101 | |||||||||||
Total Revenues | $ | 41,956 | $ | 304 | $ | 1,829 | $ | 852 | $ | 44,941 | ||||||
Timing of Revenue Recognition: | ||||||||||||||||
Asset/Good Transferred at a Point in Time | $ | — | $ | — | $ | — | $ | 254 | $ | 254 | ||||||
Services Transferred Over Time | 101 | 304 | — | — | 405 | |||||||||||
Over Lease Term | 41,855 | — | — | 598 | 42,453 | |||||||||||
Commercial Loan and Master Lease Investments Related Revenue | — | — | 1,829 | — | 1,829 | |||||||||||
Total Revenues | $ | 41,956 | $ | 304 | $ | 1,829 | $ | 852 | $ | 44,941 | ||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2021 | Feb 24, 2022 | Showing above |
| 2020 | Mar 5, 2021 | |
| 2019 | Mar 6, 2020 | |
| 2018 | Feb 28, 2019 | |
| 2017 | Feb 28, 2018 | |
| 2015 | Mar 1, 2016 | |
About Revenue Disclosures
Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.
Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.