LONG-TERM WATER ASSETS (Tables)

3 Months Ended

Mar. 31, 2022

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, 2022		March 31, 2021
Acre-Feet Sold	6,970		5,881
Revenues	$	10,157	$	6,252
Cost of sales	6,345		4,351
Profit	$	3,812	$	1,901

Schedule of Tangible Water Assets

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

	March 31, 2022		December 31, 2021
Banked water and water for future delivery	$	23,855	$	25,020
Transferable water	4,370		2,879
Total water held for future use at cost	$	28,225	$	27,899

Schedule of Finite-Lived Intangible Assets

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

	March 31, 2022				December 31, 2021
	Costs		Accumulated Depreciation		Costs		Accumulated Depreciation
Dudley-Ridge water rights	$	11,581	$	(5,428)	$	11,581	$	(5,307)
Nickel water rights	18,740		(5,408)		18,740		(5,247)
Tulare Lake Basin water rights	6,479		(3,207)		6,479		(3,148)
	$	36,800	$	(14,043)	$	36,800	$	(13,702)
Net cost of purchased water contracts	22,757				23,098
Total cost water held for future use	28,225				27,899
Net investments in water assets	$	50,982			$	50,997

Schedule of Components of Water Assets

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

(in acre-feet, unaudited)	March 31, 2022	December 31, 2021
Water held for future use
TCWD - Banked water owned by the Company	55,227	56,189
Company water bank	50,349	50,349
Water available for banking, sales, or internal use	5,504	4,203
Total water held for future use	111,080	110,741
Purchased water contracts
Water Contracts (Dudley-Ridge, Nickel and Tulare)	10,137	10,137
WRMWSD - Contracts with the Company	15,547	15,547
TCWD - Contracts with the Company	5,749	5,749
Total purchased water contracts	31,433	31,433
Total water held for future use and purchased water contracts	142,513	142,174