Business Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Schedule of Segment Financial Results

The following table presents segment financial results for the three months ended March 31, 2024 and 2023 (in thousands):

	Three Months Ended March 31,
	2024		2023
Revenues:
Land and resource management	$	111,485	$	104,023
Water services and operations	62,657		42,339
Total consolidated revenues	$	174,142	$	146,362
Net income:
Land and resource management	$	80,971	$	65,343
Water services and operations	33,446		21,225
Total consolidated net income	$	114,417	$	86,568
Capital expenditures:
Land and resource management	$	51	$	175
Water services and operations	5,611		3,598
Total capital expenditures	$	5,662	$	3,773
Depreciation, depletion and amortization:
Land and resource management	$	693	$	618
Water services and operations	3,147		2,786
Total depreciation, depletion and amortization	$	3,840	$	3,404

Schedule of Total Assets and Property, Plant and Equipment

The following table presents total assets and property, plant and equipment, net by segment as of March 31, 2024 and December 31, 2023 (in thousands):

	March 31, 2024		December 31, 2023
Assets:
Land and resource management	$	1,069,160	$	975,136
Water services and operations	190,010		181,262
Total consolidated assets	$	1,259,170	$	1,156,398
Property, plant and equipment, net:
Land and resource management	$	5,179	$	5,322
Water services and operations	87,021		84,265
Total consolidated property, plant and equipment, net	$	92,200	$	89,587