LONG-TERM WATER ASSETS (Tables)

3 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Water Revenues and Cost of Sales

Water revenues and cost of sales were as follows for the three months ended ($ in thousands):

	March 31, 2023		March 31, 2022
Acre-Feet Sold	3,050		6,970
Revenues	$	5,099	$	10,157
Cost of sales	2,976		6,345
Profit	$	2,123	$	3,812

Schedule of Tangible Water Assets

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

	March 31, 2023		December 31, 2022
Banked water and water for future delivery	$	22,085	$	23,855
Transferable water	7,708		1,455
Total water held for future use at cost	$	29,793	$	25,310

Schedule of Finite-Lived Intangible Assets

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

	March 31, 2023				December 31, 2022
	Costs		Accumulated Depreciation		Costs		Accumulated Depreciation
Dudley-Ridge water rights	$	11,581	$	(5,911)	$	11,581	$	(5,790)
Nickel water rights	18,740		(6,050)		18,740		(5,890)
Tulare Lake Basin water rights	6,479		(3,445)		6,479		(3,385)
	$	36,800	$	(15,406)	$	36,800	$	(15,065)
Net cost of purchased water contracts	21,394				21,735
Total cost water held for future use	29,793				25,310
Net investments in water assets	$	51,187			$	47,045

Schedule of Components of Water Assets

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

(in acre-feet, unaudited)	March 31, 2023	December 31, 2022
Water held for future use
TCWD - Banked water owned by the Company	53,726	52,554
Company water bank	50,349	50,349
Transferable water	9,143	2,548
Total water held for future use	113,218	105,451
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
Total purchased water contracts	31,433	31,433
Total water held for future use and purchased water contracts	144,651	136,884