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LONG-TERM WATER ASSETS (Tables)
 3 Months Ended
Mar. 31, 2025
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, 2025March 31, 2024
Acre-Feet Sold1,100 1,050 
Revenues$1,468 $1,363 
Cost of sales1,207 1,160 
Profit$261 $203 
Schedule of Tangible Water Assets
Costs assigned to water assets held for future use were as follows ($ in thousands):
March 31, 2025December 31, 2024
Banked water and water for future delivery$39,919 $36,048 
Transferable water6,631 35 
Total water held for future use at cost$46,550 $36,083 
Schedule of Finite-Lived Intangible Assets
The Company’s carrying amounts of its purchased water contracts were as follows ($ in thousands):
March 31, 2025December 31, 2024
CostsAccumulated DepreciationCostsAccumulated Depreciation
Dudley-Ridge water purchase contract *
$11,581 $(6,876)$11,581 $(6,755)
Nickel water purchase contract *
18,740 (7,335)18,740 (7,175)
Tulare Lake Basin water purchase contract *
6,479 (3,921)6,479 (3,862)
$36,800 $(18,132)$36,800 $(17,792)
Net cost of purchased water contracts18,668 19,008 
Total cost of water held for future use46,550 36,083 
Net investments in water assets$65,218 $55,091 
*All water purchase contracts were acquired from third parties.
Schedule of Components of Water Assets Total water resources, including both recurring and one-time usage are:
(in acre-feet, unaudited)March 31, 2025December 31, 2024
Water held for future use
TCWD - Banked water owned by the Company60,936 60,936 
Company water bank54,728 54,728 
Transferable water7,065 505 
Recharged water6,797 6,797 
Total water held for future use129,526 122,966 
Purchased water contracts
Water Contracts (Dudley-Ridge, Nickel and Tulare)10,137 10,137 
WRMWSD - Contracts with the Company15,547 15,547 
TCWD - Contracts with the Company5,749 5,749 
Total purchased water contracts31,433 31,433 
Total water held for future use and purchased water contracts160,959 154,399