CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Current Assets:
Cash and cash equivalents	$ 39,267	$ 31,907
Marketable securities - available-for-sale	14,441	32,556
Accounts receivable	7,916	8,352
Inventories	3,972	3,493
Prepaid expenses and other current assets	3,806	3,502
Total current assets	69,402	79,810
Real estate and improvements - held for lease, net	16,253	16,609
Real estate development (includes $124,136 at December 31, 2024 and $119,788 at December 31, 2023, attributable to Centennial Founders, LLC, Note 16)	377,905	337,257
Property and equipment, net	56,387	53,985
Investments in unconsolidated joint ventures	28,980	33,648
Net investment in water assets	55,091	52,130
Other assets	3,980	4,084
TOTAL ASSETS	607,998	577,523
Current Liabilities:
Trade accounts payable	9,085	6,457
Accrued liabilities and other	5,549	3,214
Deferred income	2,162	1,891
Total current liabilities	16,796	11,562
Revolving line of credit	66,942	47,942
Long-term deferred gains	11,447	11,447
Deferred tax liability	9,059	8,269
Other liabilities	14,798	15,207
Total liabilities	119,042	94,427
Commitments and contingencies
Tejon Ranch Co. stockholders’ equity
Issued and outstanding shares - 26822768.1904039 at December 31, 2024 and 26,770,545 at December 31, 2023	13,412	13,386
Additional paid-in capital	348,497	345,609
Accumulated other comprehensive income (loss)	87	(171)
Retained earnings	111,598	108,908
Total Tejon Ranch Co. stockholders’ equity	473,594	467,732
Non-controlling interest	15,362	15,364
Total equity	488,956	483,096
TOTAL LIABILITIES AND EQUITY	$ 607,998	$ 577,523