Long-Term Water Assets (Tables)

12 Months Ended

Dec. 31, 2021

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)	2021		2020		2019
Acre-Feet Sold	13,651		5,022		4,482
Revenues	$	15,523	$	5,909	$	3,997
Cost of sales	10,669		3,663		3,194
Profit	$	4,854	$	2,246	$	803

Tangible water assets

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

	December 31, 2021		December 31, 2020
Banked water and water for future delivery	$	25,020	$	28,136
Transferable water	2,879		4,102
Total water held for future use at cost	$	27,899	$	32,238

Schedule of finite-lived intangible assets

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

	December 31, 2021				December 31, 2020
	Costs		Accumulated Depreciation		Costs		Accumulated Depreciation
Dudley-Ridge water rights	$	11,581	$	(5,307)	$	11,581	$	(4,825)
Nickel water rights	18,740		(5,247)		18,740		(4,605)
Tulare Lake Basin water rights	6,479		(3,148)		6,479		(2,910)
	$	36,800	$	(13,702)	$	36,800	$	(12,340)
Net cost of purchased water contracts	23,098				24,460
Total cost water held for future use	27,899				32,238
Net investments in water assets	$	50,997			$	56,698

Components of water assets

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

(in acre feet, unaudited)	December 31, 2021	December 31, 2020
Water held for future use
TCWD - Banked water owned by the Company	56,189	61,054
Company water bank	50,349	50,349
Transferable water	4,203	5,638
Total water held for future use	110,741	117,041
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
Total purchased water contracts	31,433	31,433
Total water held for future use and purchased water contracts	142,174	148,474