Long-Term Water Assets (Tables)

3 Months Ended

Mar. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of water revenues and cost of sales

Water revenues and cost of sales were as follows ($ in thousands):

	March 31, 2019		March 31, 2018
Acre-Feet Sold	4,445		7,442
Revenues	$	5,026	$	7,992
Cost of sales	3,194		3,679
Profit	$	1,832	$	4,313

Tangible water assets

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

	March 31, 2019		December 31, 2018
Banked water and water for future delivery	$	25,208	$	24,597
Transferable water	2,927		36
Total water held for future use at cost	$	28,135	$	24,633

Schedule of finite-lived intangible assets

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

	March 31, 2019					December 31, 2018
	Costs		Accumulated Depreciation			Costs		Accumulated Depreciation
Dudley-Ridge water rights	$	12,203	$	(3,980	)	$	12,203	$	(3,860	)
Nickel water rights	18,740		(3,480		)	18,740		(3,320		)
Tulare Lake Basin water rights	5,857		(2,482		)	5,857		(2,421		)
	$	36,800	$	(9,942	)	$	36,800	$	(9,601	)
Net cost of purchased water contracts	26,858					27,199
Total cost water held for future use	28,135					24,633
Net investments in water assets	$	54,993				$	51,832

Components of water assets

Total water resources, including both recurring and one-time usage, are:

(in acre-feet, unaudited)	March 31, 2019	December 31, 2018
Water held for future use
AVEK water bank	13,033	13,033
Company water bank	37,316	35,793
Transferable water	5,999	500
Total water held for future use	56,348	49,326
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 to Company	54,351	52,547
Total purchased water contracts	85,784	83,980
Total water held for future use and purchased water contracts	142,132	133,306