Intangible Assets and Goodwill

6 Months Ended

Jun. 30, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

The Company owns the following intangible assets, which primarily represent indefinite-lived intangible water assets within its water resource and water storage operations segment (in thousands):



	June 30, 2016		December 31, 2015
Pipeline rights and water credits at Fish Springs Ranch	$	83,897	$	83,897
Pipeline rights and water rights at Carson-Lyon	25,581		24,831
Other, net of accumulated amortization	17,726		17,805
Total intangible assets	$	127,204	$	126,533

Impairment Losses for the Six Months Ended June 30, 2016:

There were no impairment losses recognized on intangible assets during the six months ended June 30, 2016.

Impairment Losses for the Year Ended December 31, 2015:

As a result of the Company’s annual review of indefinite-lived intangible assets, using a discounted cash flow model, the Company recorded an impairment loss of $269,000, reducing the carrying value to $3 million, which is included in the table above within other, net of accumulated amortization. The loss was recorded in the consolidated statements of operations and comprehensive income or loss within impairment loss on intangible and long-lived assets and was reported in the water resource and water storage operations segment results.

Goodwill:

The Company had a goodwill balance of $4.2 million at June 30, 2016 and December 31, 2015. There were no acquisitions, disposals, or impairments of goodwill during the six months ended June 30, 2016 or the year ended December 31, 2015.