Consolidated Statements of Cash Flows - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating Activities
Net income (loss)		$ 10,579	$ 4,235	$ (1,821)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization		5,036	5,424	5,689
Amortization of premium/discount of marketable securities		(94)	101	298
Equity in earnings of unconsolidated joint ventures, net		(16,575)	(3,834)	(4,227)
Non-cash retirement plan expense		307	335	469
Loss on sale of real estate/assets		0	94	45
Non-cash profits recognized from land contribution		(2,146)	0	0
Deferred income taxes		1,259	175	(94)
Stock compensation expense		3,198	3,248	3,552
Excess tax benefit of stock-based compensation		57	18	107
Abandonment expense		1,604	0	0
Distribution of earnings from unconsolidated joint ventures		15,381	4,800	7,200
Changes in operating assets and liabilities:
Receivables, inventories, prepaids and other assets, net		154	(2,888)	522
Current liabilities, net		(2,715)	2,646	(1,910)
Net cash provided by operating activities		16,045	14,354	9,830
Investing Activities
Maturities and sales of marketable securities		53,418	35,219	8,126
Purchases of marketable securities		(28,219)	(28,392)	(52,716)
Real estate and equipment expenditures		(25,222)	(22,580)	(21,709)
Reimbursement proceeds from Communities Facilities District		4,180	3,588	0
Investment in unconsolidated joint ventures		(3,100)	(52)	(310)
Distribution of equity from unconsolidated joint ventures		3,457	2,815	3,114
Investments in long-term water assets		(3,686)	(3,844)	(4,717)
Other		0	0	(2)
Net cash provided by/(used) in investing activities		828	(13,246)	(68,214)
Financing Activities
Borrowings of line of credit		5,000	0	13,300
Repayments of line of credit		(5,000)	0	(21,000)
Repayments of long-term debt		(4,004)	(4,046)	(3,908)
Net proceeds from rights offering		0	(166)	89,867
Taxes on vested stock grants		(1,671)	(1,095)	(1,026)
Net cash (used in)/provided by financing activities		(5,675)	(5,307)	77,233
Increase (decrease) in cash and cash equivalents		11,198	(4,199)	18,849
Cash and cash equivalents at beginning of year		15,908	20,107	1,258
Cash and cash equivalents at end of year		27,106	15,908	20,107
Non-cash investing activities
Accrued capital and water expenditures included in current liabilities		785	2,390	814
Contribution to unconsolidated joint venture	[1]	8,658	0	1,339
Long term deferred profit on land contribution	[1]	$ 2,038	$ 0	$ 0

[1] In April 2019, the Company contributed land with a fair value of $5.9 million to TRC-MRC 3, LLC, an unconsolidated joint venture formed to pursue the development, construction, leasing, and management of a 579,040 square foot industrial building on the Company's property at TRCC-East. The total cost of the land, inclusive of transaction costs was $2.8 million. The Company recognized $1.5 million in profit and deferred $1.5 million after applying the five-step revenue recognition model in accordance with Accounting Standards Codification (ASC) Topic 606 — Revenue From Contracts With Customers and ASC Topic 323, Investments — Equity Method and Joint Ventures. In December 2019, the Company contributed a newly constructed commercial multi-tenant building and underlying land with an aggregate fair value of $2.8 million to TA/Petro, an unconsolidated joint venture. The total cost of the building construction and land was $2.0 million. The Company recognized $0.3 million in profit and deferred $0.5 million after applying the five-step revenue recognition model in accordance with Accounting Standards Codification (ASC) Topic 606 — Revenue From Contracts With Customers and ASC Topic 323, Investments — Equity Method and Joint Ventures. Historically, cash outflows related to land development expenditures were accounted for within investing activities. For consistency, the Company will continue to classify cash outflows and cash inflows related to land development as investing activities.