Long-Term Water Assets (Tables)

3 Months Ended

Mar. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Tangible water assets

The costs assigned to water assets held for future use were as follows ($ in thousands):

	March 31, 2018		December 31, 2017
Banked water and water for future delivery	$	5,280	$	5,220
Transferable water	15,977		13,351
Total tangible water	$	21,257	$	18,571

Schedule of finite-lived intangible assets

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

	March 31, 2018					December 31, 2017
	Costs		Accumulated Depreciation			Costs		Accumulated Depreciation
Dudley Ridge water rights	$	12,203	$	(3,498	)	$	12,203	$	(3,377	)
Nickel water rights	18,740		(2,838		)	18,740		(2,678		)
Tulare Lake Basin water rights	5,857		(2,243		)	5,857		(2,186		)
	$	36,800	$	(8,579	)	$	36,800	$	(8,241	)
Net intangible water assets	28,221					28,559
Total tangible water assets	21,257					18,571
Net investments in water assets	$	49,478				$	47,130

Components of water assets

Total water resources including recurring annual contract water were as follows:

(in acre-feet, unaudited)	March 31, 2018	December 31, 2017
Water held for future use
AVEK water bank	13,033	13,033
Company water bank	33,111	31,497
Transferable water*	5,747	6,169
Total water held for future use	51,891	50,699
Purchased water contracts
Water Contracts (Dudley-Ridge, Nickel and Tulare)	10,137	10,137
WRMWSD - Contracts with Company	15,547	15,547
TCWD - Contracts with Company	5,749	5,749
TCWD - Banked water contracted with Company	49,184	49,184
Total purchased water contracts	80,617	80,617
Total water held for future use and purchased water contracts	132,508	131,316
*of the 5,747 acre-feet of transferable water, 349 acre-feet will be returned by AVEK to the Company at a 1.5 to 1 factor, giving the Company use of a total of 523 (349 X 1.5) acre-feet as of March 31, 2018.