Note 3 - Property, Plant, Equipment and Water Programs

9 Months Ended

Sep. 30, 2021

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

NOTE 3 – PROPERTY, PLANT, EQUIPMENT AND WATER PROGRAMS

On June 30, 2021, the Company recorded the acquisition of a 124-mile pipeline (“Pipeline”). Depreciation on the Pipeline will commence when construction is completed and required permits are secured in order to use the facility for the conveyance of water.

Property, plant, equipment and water programs consist of the following (dollars in thousands) as of September 30, 2021 and December 31, 2020:

	September 30, 2021			December 31, 2020
Land and land improvements	$	26,798		$	26,798
Water programs		28,709			28,323
Buildings		1,598			1,576
Leasehold improvements		570			570
Pipeline		22,086			-
Furniture and fixtures		461			461
Machinery and equipment		2,171			2,029
Construction in progress		2,563			788
		84,956			60,545
Less accumulated depreciation		(7,377	)		(7,064	)
	$	77,579		$	53,481

Depreciation expense was $313 thousand for the nine months ended September 30, 2021.