LONG-TERM WATER ASSETS (Tables)

3 Months Ended

Mar. 31, 2024

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, 2024		March 31, 2023
Acre-Feet Sold	1,050		3,050
Revenues	$	1,363	$	5,099
Cost of sales	1,160		2,976
Profit	$	203	$	2,123

Schedule of Tangible Water Assets

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

	March 31, 2024		December 31, 2023
Banked water and water for future delivery	$	31,002	$	31,002
Transferable water	6,990		756
Total water held for future use at cost	$	37,992	$	31,758

Schedule of Finite-Lived Intangible Assets

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

	March 31, 2024				December 31, 2023
	Costs		Accumulated Depreciation		Costs		Accumulated Depreciation
Dudley-Ridge water rights	$	11,581	$	(6,393)	$	11,581	$	(6,272)
Nickel water rights	18,740		(6,693)		18,740		(6,532)
Tulare Lake Basin water rights	6,479		(3,683)		6,479		(3,624)
	$	36,800	$	(16,769)	$	36,800	$	(16,428)
Net cost of purchased water contracts	20,031				20,372
Total cost of water held for future use	37,992				31,758
Net investments in water assets	$	58,023			$	52,130

Schedule of Components of Water Assets

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

(in acre-feet, unaudited)	March 31, 2024	December 31, 2023
Water held for future use
TCWD - Banked water owned by the Company	65,644	65,005
Company water bank	54,728	54,728
Transferable water	7,143	1,000
Recharged project water	6,590	6,590
Total water held for future use	134,105	127,323
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	165,538	158,756