CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Assets
Cash and cash equivalents	$ 12,550	$ 37,128
Investments ($1,902 measured at fair value at December 31, 2017)	0	3,214
Tangible water assets and real estate, net	44,298	44,675
Intangible assets	121,917	126,785
Other assets	1,446	2,600
Total assets	180,211	214,402
Liabilities and shareholders’ equity
Deferred compensation	0	4,112
Other liabilities	3,448	2,431
Accounts payable and accrued expenses	139	696
Total liabilities	3,587	7,239
Commitments and contingencies
Preferred stock, $0.001 par value; authorized 10,000 shares, none issued
Common stock, $0.001 par value; authorized 100,000 shares, 20,848 issued and 20,726 outstanding at December 31, 2018, and 23,153 issued and 23,152 outstanding at December 31, 2017	21	23
Additional paid-in capital	353,250	379,388
Accumulated deficit	(175,536)	(172,767)
Accumulated other comprehensive income	0	544
Treasury stock, at cost (common shares: 121 and 1 at December 31, 2018 and December 31, 2017, respectively)	(1,111)	(25)
Total PICO Holdings, Inc. shareholders’ equity	176,624	207,163
Total liabilities and equity	$ 180,211	$ 214,402