Consolidated Statements of Cash Flows (Parenthetical) $ in Thousands		1 Months Ended		12 Months Ended
		Jun. 30, 2021 USD ($) a	Apr. 30, 2019 USD ($) ft²	Dec. 31, 2021 USD ($)
Proceeds from water sales, investing				$ 9,500
Profit related to water purchased in prior periods				3,400
Contribution to unconsolidated joint venture	[1]			8,464
Investments in unconsolidated joint ventures				$ 43,418
TRC-MRC 4, LLC
Contribution to unconsolidated joint venture		$ 8,464
Number of acres for development		630,000
Transaction costs		$ 2,900
Earnings(Loss)		2,785
Deferred gain on sale		2,785
TRC-MRC 4, LLC | Land
Contribution to unconsolidated joint venture		$ 8,500
TRC-MRC 3, LLC
Number of acres for development | ft²			579,040
Transaction costs			$ 2,800
Earnings(Loss)			1,500
Deferred gain on sale			1,500
TRC-MRC 3, LLC | Land
Contribution to unconsolidated joint venture			$ 5,900

[1] In June 2021, the Company contributed land with a fair value of $8.5 million to TRC-MRC 4, LLC an unconsolidated joint venture formed to pursue the development, construction, leasing, and management of a 630,000 square foot industrial building on the Company's property at TRCC-East (defined herein). The total cost of the land was $2.9 million. The Company recognized $2.8 million in profit and deferred $2.8 million of profit 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 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.