Long-Term Water Assets (Tables)

6 Months Ended

Jun. 30, 2020

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, 2020		June 30, 2019
Acre-Feet Sold	4,625		4,445
Revenues	$	5,471	$	3,980
Cost of sales	3,264		3,194
Profit	$	2,207	$	786

Tangible water assets

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

	June 30, 2020		December 31, 2019
Banked water and water for future delivery	$	28,091	$	25,265
Transferable water	3,211		3,054
Total water held for future use at cost	$	31,302	$	28,319

Schedule of finite-lived intangible assets

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

	June 30, 2020					December 31, 2019
	Costs		Accumulated Depreciation			Costs		Accumulated Depreciation
Dudley-Ridge water rights	$	11,581	$	(4,584	)	$	11,581	$	(4,342	)
Nickel water rights	18,740		(4,283		)	18,740		(3,962		)
Tulare Lake Basin water rights	6,479		(2,778		)	6,479		(2,660		)
	$	36,800	$	(11,645	)	$	36,800	$	(10,964	)
Net cost of purchased water contracts	25,155					25,836
Total cost water held for future use	31,302					28,319
Net investments in water assets	$	56,457				$	54,155

Components of water assets

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

(in acre-feet, unaudited)	June 30, 2020	December 31, 2019
Water held for future use
Company water bank	50,349	50,349
Transferable water	6,272	3,252
Total water held for future use	56,621	53,601
Purchased water contracts
Water Contracts (Dudley-Ridge, Nickel and Tulare)	10,137	10,137
WRMWSD - Contracts with the Company	15,547	15,547
TCWD - Contracts with the Company	5,749	5,749
TCWD - Banked water owned by the Company	61,054	60,555
Total purchased water contracts	92,487	91,988
Total water held for future use and purchased water contracts	149,108	145,589