Pure Cycle Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

REVENUE RECOGNITION AND REIMBURSABLE COSTS (Tables)

REVENUE RECOGNITION AND REIMBURSABLE COSTS (Tables)

3 Months Ended

Nov. 30, 2020

REVENUE RECOGNITION AND REIMBURSABLE COSTS [Abstract]

The following table summarizes the amounts the Company paid, what was repaid by the Sky Ranch CAB and amounts still owed to the Company by the Sky Ranch CAB:

	As of November 30, 2020
	Costs incurred to date		Payments repaid by Sky Ranch CAB		Amounts payable to Pure Cycle by the Sky Ranch CAB
	(In thousands)
Public Improvements	$	28,008	$	10,505	$	17,503
Accrued interest		1,456		—		1,456
Project management services		1,496		—		1,496
Construction support activities		683		—		683
Total reimbursable costs	$	31,643	$	10,505	$	21,138

Deferred Revenue and Changes in Deferred Revenue

Deferred revenue by segment is as follows:

	November 30, 2020		August 31, 2020
	(In thousands)
Land development segment	$	1,462	$	1,636
Water and wastewater resource development segment		713		1,965
Balance, end of period	$	2,175	$	3,601

Changes in deferred revenue were as follows:

	November 30, 2020
	(In thousands)
Balance, August 31, 2020	$	3,601
Deferral of revenue		2,182
Recognition of unearned revenue		(3,608	)
Balance, November 30, 2020	$	2,175