Long-Term Water Assets (Tables)

6 Months Ended

Jun. 30, 2019

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):

	June 30, 2019		June 30, 2018
Acre-Feet Sold	4,445		7,442
Revenues	$	3,980	$	7,992
Cost of sales	3,194		3,679
Profit	$	786	$	4,313

Tangible water assets

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

	June 30, 2019		December 31, 2018
Banked water and water for future delivery	$	25,265	$	24,597
Transferable water	2,927		36
Total water held for future use at cost	$	28,192	$	24,633

Schedule of finite-lived intangible assets

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

	June 30, 2019					December 31, 2018
	Costs		Accumulated Depreciation			Costs		Accumulated Depreciation
Dudley-Ridge water rights	$	12,203	$	(4,100	)	$	12,203	$	(3,860	)
Nickel water rights	18,740		(3,640		)	18,740		(3,320		)
Tulare Lake Basin water rights	5,857		(2,542		)	5,857		(2,421		)
	$	36,800	$	(10,282	)	$	36,800	$	(9,601	)
Net cost of purchased water contracts	26,518					27,199
Total cost water held for future use	28,192					24,633
Net investments in water assets	$	54,710				$	51,832

Components of water assets

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

(in acre-feet, unaudited)	June 30, 2019	December 31, 2018
Water held for future use
AVEK water bank	—	13,033
Company water bank	50,349	35,793
Transferable water	6,163	500
Total water held for future use	56,512	49,326
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 owned by Company	54,712	52,547
Total purchased water contracts	86,145	83,980
Total water held for future use and purchased water contracts	142,657	133,306