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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Operating Activities      
Net income $ 4,283 $ 15,781 $ 3,959
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Depreciation and amortization 4,954 3,629 2,119
Amortization of premium/discount of marketable securities 874 641 198
Equity in earnings (2,535) (916) (541)
Non-cash retirement plan expense 1,047 528 800
Gain on sale of real estate (676) (4,058) (559)
Gain on sale of easements 0 (15,750) 0
Deferred income taxes 1,810 (162) (1,351)
Amortization of stock compensation expense (reversal) 5,440 5,340 (2,944)
Excess tax benefit from stock-based compensation 8 (634) (227)
Distribution of earnings from unconsolidated joint ventures 7,200 0 1,440
Changes in operating assets and liabilities:      
Receivables, inventories and other assets, net (1,761) 2,570 (56)
Current liabilities, net (6,552) 2,515 361
Net cash provided by (used in) operating activities 14,092 9,484 3,199
Investing Activities      
Maturities and sales of marketable securities 19,809 19,143 15,720
Funds invested in marketable securities (16,984) (39,448) (34,751)
Property and equipment expenditures (20,669) (13,649) (14,196)
Reimbursement proceeds Kern County - Laval Interchange 0 0 1,613
Reimbursement proceeds from Communities Facilities District 0 0 10,860
Proceeds from sale of real estate 0 4,988 604
Proceeds from sale of easements 0 15,750 0
Investment in unconsolidated joint ventures (6,154) (4,457) (4,594)
Distribution of equity from unconsolidated joint ventures 1,512 0 4,100
Investments in long-term water assets (797) 0 (11,981)
Other 10 (495) (943)
Net cash provided by (used in) investing activities (23,273) (18,168) (33,568)
Financing Activitites      
Borrowings of short-term debt 1,500 0 (16,400)
Repayments of short-term debt (1,500) 0 6,850
Repayments of long-term debt (39) (35) (33)
Net proceeds from rights offering 0 0 59,760
Proceeds from exercise of stock options 370 5,876 1,999
Taxes on vested stock grants (2,303) (812) (463)
Net cash provided by (used in) financing activities (1,972) 5,029 51,713
Increase (decrease) in cash and cash equivalents (11,153) (3,655) 21,344
Cash and cash equivalents at beginning of year 18,372 22,027 683
Cash and cash equivalents at end of year 7,219 18,372 22,027
Supplemental cash flow information      
Accrued capital expenditures included in current liabilities 2,293 590 0
Sale of assets accounted as direct finance leases 913 0 0
Taxes paid (net of refunds) $ 4,021 $ 5,002 $ 875