Long-Term Water Assets (Tables)

12 Months Ended

Dec. 31, 2019

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)	2019		2018		2017
Acre-Feet Sold	4,482		9,442		939
Revenues	$	3,997	$	9,142	$	1,254
Cost of sales	3,194		3,864		765
Profit	$	803	$	5,278	$	489

Tangible water assets

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

	December 31, 2019		December 31, 2018
Banked water and water for future delivery	$	25,265	$	24,597
Transferable water	3,054		36
Total water held for future use at cost	$	28,319	$	24,633

Schedule of finite-lived intangible assets

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

	December 31, 2019					December 31, 2018
	Costs		Accumulated Depreciation			Costs		Accumulated Depreciation
Dudley-Ridge water rights	$	11,581	$	(4,342	)	$	11,581	$	(3,860	)
Nickel water rights	18,740		(3,962		)	18,740		(3,320		)
Tulare Lake Basin water rights	6,479		(2,660		)	6,479		(2,421		)
	$	36,800	$	(10,964	)	$	36,800	$	(9,601	)
Net cost of purchased water contracts	25,836					27,199
Total cost water held for future use	28,319					24,633
Net investments in water assets	$	54,155				$	51,832

Components of water assets

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

(in acre feet, unaudited)	December 31, 2019	December 31, 2018
Water held for future use
Company water bank	50,349	48,826
Transferable water *	3,252	500
Total water held for future use	53,601	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 contracted to Company	60,555	52,547
Total purchased water contracts	91,988	83,980
Total water held for future use and purchased water contracts	145,589	133,306