XML 40 R30.htm IDEA: XBRL DOCUMENT v3.23.3
LONG-TERM WATER ASSETS (Tables)
 9 Months Ended
Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Water Revenues and Cost of Sales
Water revenues and cost of sales were as follows for the nine months ended ($ in thousands):
September 30, 2023September 30, 2022
Acre-Feet Sold4,020 9,600 
Revenues$6,615 $13,635 
Cost of sales4,015 8,944 
Profit$2,600 $4,691 
Schedule of Tangible Water Assets
The costs assigned to water assets held for future use were as follows ($ in thousands):
September 30, 2023December 31, 2022
Banked water and water for future delivery$31,469 $23,855 
Transferable water326 1,455 
Total water held for future use at cost$31,795 $25,310 
Schedule of Finite-Lived Intangible Assets
The Company’s carrying amounts of its purchased water contracts were as follows ($ in thousands):
September 30, 2023December 31, 2022
CostsAccumulated DepreciationCostsAccumulated Depreciation
Dudley-Ridge water rights$11,581 $(6,152)$11,581 $(5,790)
Nickel water rights18,740 (6,372)18,740 (5,890)
Tulare Lake Basin water rights6,479 (3,564)6,479 (3,385)
$36,800 $(16,088)$36,800 $(15,065)
Net cost of purchased water contracts20,712 21,735 
Total cost of water held for future use31,795 25,310 
Net investments in water assets$52,507 $47,045 
Schedule of Components of Water Assets Total water resources, including both recurring and one-time usage, are:
(in acre-feet, unaudited)September 30, 2023December 31, 2022
Water held for future use
TCWD - Banked water owned by the Company62,379 52,554 
Company water bank52,631 50,349 
Transferable water3,097 2,548 
Recharged project water6,590 — 
Total water held for future use124,697 105,451 
Purchased water contracts
Water Contracts (Dudley-Ridge, Nickel and Tulare)10,137 10,137 
WRMWSD - Contracts with the Company15,547 15,547 
TCWD - Contracts with the Company5,749 5,749 
Total purchased water contracts31,433 31,433 
Total water held for future use and purchased water contracts156,130 136,884