CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current Assets:
Cash and cash equivalents	$ 40,379	$ 39,119
Marketable securities - available-for-sale	35,321	33,444
Accounts receivable	1,966	4,453
Inventories	5,744	3,369
Prepaid expenses and other current assets	3,854	2,660
Total current assets	87,264	83,045
Real estate and improvements - held for lease, net	17,142	16,940
Real estate development (includes $116,071 at March 31, 2023 and $115,221 at December 31, 2022, attributable to Centennial Founders, LLC, Note 15)	324,318	321,293
Property and equipment, net	53,791	52,980
Investments in unconsolidated joint ventures	36,291	41,891
Net investment in water assets	51,187	47,045
Other assets	2,136	3,597
TOTAL ASSETS	572,129	566,791
Current Liabilities:
Trade accounts payable	5,170	5,117
Accrued liabilities and other	3,338	3,602
Deferred income	2,310	1,531
Income taxes payable	482	0
Current maturities of long-term debt	1,800	1,779
Total current liabilities	13,100	12,029
Long-term debt, less current portion	47,710	48,161
Long-term deferred gains	11,447	11,447
Deferred tax liability	6,880	7,180
Other liabilities	15,940	10,380
Total liabilities	95,077	89,197
Commitments and contingencies
Tejon Ranch Co. Stockholders’ Equity
Issued and outstanding shares - 26,710,432 at March 31, 2023 and 26,541,553 at December 31, 2022	13,356	13,271
Additional paid-in capital	343,438	345,344
Accumulated other comprehensive loss	(2,529)	(2,028)
Retained earnings	107,417	105,643
Total Tejon Ranch Co. Stockholders’ Equity	461,682	462,230
Non-controlling interest	15,370	15,364
Total equity	477,052	477,594
TOTAL LIABILITIES AND EQUITY	$ 572,129	$ 566,791