Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Current Assets:
Cash and cash equivalents	$ 1,307	$ 1,930
Marketable securities - available-for-sale	32,719	32,815
Accounts receivable	3,570	6,511
Inventories	6,601	3,517
Prepaid expenses and other current assets	5,365	4,120
Total current assets	49,562	48,893
Real estate and improvements - held for lease, net	23,326	21,942
Real estate development (includes $85,181 at March 31, 2016 and $84,194 at December 31, 2015, attributable to Centennial Founders, LLC, Note 15)	234,235	235,466
Property and equipment, net	45,008	44,469
Investments in unconsolidated joint ventures	32,155	30,680
Long-term water assets	44,462	43,806
Deferred tax assets	5,390	4,659
Other assets	2,090	2,004
TOTAL ASSETS	436,228	431,919
Current Liabilities:
Trade accounts payable	3,126	3,252
Accrued liabilities and other	3,166	3,492
Income taxes payable	499	1,237
Deferred income	2,131	1,525
Revolving line of credit	2,000	0
Current maturities of long-term debt	1,659	815
Total current liabilities	12,581	10,321
Long-term debt, less current portion	72,320	73,223
Long-term deferred gains	3,816	3,816
Other liabilities	15,647	13,251
Total liabilities	$ 104,364	$ 100,611
Commitments and contingencies
Tejon Ranch Co. Stockholders’ Equity
Common stock, $.50 par value per share: Authorized shares - 30,000,000, Issued and outstanding shares - 20,716,380 at March 31, 2016 and 20,688,154 at December 31, 2015	$ 10,358	$ 10,344
Additional paid-in capital	217,508	216,803
Accumulated other comprehensive loss	(8,260)	(6,902)
Retained earnings	72,598	71,389
Total Tejon Ranch Co. Stockholders’ Equity	292,204	291,634
Non-controlling interest	39,660	39,674
Total equity	331,864	331,308
TOTAL LIABILITIES AND EQUITY	$ 436,228	$ 431,919