Investments in Water Assets (Tables)

3 Months Ended

Mar. 31, 2017

Property, Plant and Equipment [Abstract]

Tangible water assets

The costs assigned to tangible water assets were as follows ($ in thousands):

	March 31, 2017		December 31, 2016
Banked water and water for future delivery	$	5,025	$	4,779
Transferable water	13,105		9,075
Total tangible water	$	18,130	$	13,854

Schedule of finite-lived intangible assets

The Company's carrying amounts of its intangible water assets were as follows: ($ in thousands):

	March 31, 2017					December 31, 2016
	Costs		Accumulated Depreciation			Costs		Accumulated Depreciation
Dudley Ridge water rights	$	12,203	$	(3,206	)	$	12,203	$	(2,895	)
Nickel water rights	18,740		(2,195		)	18,740		(2,218		)
Tulare Lake Basin water rights	5,857		(1,827		)	5,857		(1,777		)
	$	36,800	$	(7,228	)	$	36,800	$	(6,890	)
Net intangible water assets	29,572					29,910
Total tangible water assets	18,130					13,854
Net investments in water assets	$	47,702				$	43,764

Components of water assets

Water assets consist of the following:

(in acre feet, unaudited)	March 31, 2017	December 31, 2016
Tangible water assets
Banked water and water for future delivery
AVEK water bank	13,033	13,033
Company water bank	22,117	17,287
AVEK water for future delivery	5,316	2,362
Transferable water*	13,049	9,062
Total tangible water assets	53,515	41,744
Intangible water assets
Water contracts	10,137	10,137
WRMWSD - Contract[s] with Company	15,547	15,547
TCWD - Contract[s] with Company	5,278	5,749
TCWD - Banked water contracted with Company	36,557	33,390
Total intangible water assets	67,519	64,823
Total water sources in acre feet	121,034	106,567
* Of the 13,049 acre feet of transferable water, 7,295 acre feet of transferable water with AVEK that is used by the Company or returned by AVEK to the Company will be returned at a 1.5 to 1 factor giving the Company use of a total of 10,943 (7,295 x 1.5) acre feet as of March 31, 2017.