CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Current Assets:
Cash and cash equivalents	$ 2,500	$ 39,267
Marketable securities - available-for-sale	17,554	14,441
Accounts receivable	1,759	7,916
Inventories	8,681	3,972
Prepaid expenses and other current assets	2,770	3,806
Total current assets	33,264	69,402
Real estate and improvements - held for lease, net	40,762	16,253
Real estate development (includes $126,009 at June 30, 2025 and $124,136 at December 31, 2024, attributable to CFL (Note 14))	384,035	377,905
Property and equipment, net	58,792	56,387
Investments in unconsolidated joint ventures	31,264	28,980
Net investment in water assets	65,480	55,091
Other assets	4,944	3,980
TOTAL ASSETS	618,541	607,998
Current Liabilities:
Trade accounts payable	10,052	9,085
Accrued liabilities and other	2,373	5,549
Deferred income	2,397	2,162
Total current liabilities	14,822	16,796
Revolving line of credit	81,942	66,942
Long-term deferred gains	10,851	11,447
Deferred tax liability	9,024	9,059
Other liabilities	15,011	14,798
Total liabilities	131,650	119,042
Commitments and contingencies (Note 11)
Tejon Ranch Co. stockholders’ equity
Issued and outstanding shares - 26,880,668 at June 30, 2025 and 26,822,768 at December 31, 2024	13,441	13,412
Additional paid-in capital	349,592	348,497
Accumulated other comprehensive income	77	87
Retained earnings	108,422	111,598
Total Tejon Ranch Co. stockholders’ equity	471,532	473,594
Non-controlling interest	15,359	15,362
Total equity	486,891	488,956
TOTAL LIABILITIES AND EQUITY	$ 618,541	$ 607,998