Long-Term Water Assets (Tables)

12 Months Ended

Dec. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of water revenues and cost of sales

Water revenues and cost of sales were as follows as of December 31:

($ in thousands)	2018		2017		2016
Acre-Feet Sold	9,442		939		7,285
Revenues	$	9,142	$	1,254	$	9,601
Cost of sales	3,864		765		5,925
Profit	$	5,278	$	489	$	3,676

Tangible water assets

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

	December 31, 2018		December 31, 2017
Banked water and water for future delivery	$	24,597	$	5,220
Transferable water	36		13,351
Total water held for future use at cost	$	24,633	$	18,571

Schedule of finite-lived intangible assets

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

	December 31, 2018					December 31, 2017
	Costs		Accumulated Depreciation			Costs		Accumulated Depreciation
Dudley-Ridge water rights	$	12,203	$	(3,860	)	$	12,203	$	(3,377	)
Nickel water rights	18,740		(3,320		)	18,740		(2,678		)
Tulare Lake Basin water rights	5,857		(2,421		)	5,857		(2,186		)
	$	36,800	$	(9,601	)	$	36,800	$	(8,241	)
Net cost of purchased water contracts	27,199					28,559
Total cost water held for future use	24,633					18,571
Net investments in water assets	$	51,832				$	47,130

Components of water assets

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

(in acre feet, unaudited)	December 31, 2018	December 31, 2017
Water held for future use
AVEK water bank	13,033	13,033
Company water bank	35,793	31,497
Transferable water *	500	6,169
Total water held for future use	49,326	50,699
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	52,547	49,184
Total purchased water contracts	83,980	80,617
Total water held for future use and purchased water contracts	133,306	131,316

*of the 6,169 acre-feet of transferable water, 1,452 acre-feet was returned by AVEK to the Company at a 1.5 to 1 factor giving the Company use of a total of 2,137 (1,452 X 1.5) acre-feet as of December 31, 2017.