v3.26.1
LONG-TERM WATER ASSETS (Tables)
 6 Months Ended
Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
Schedule of Water Revenues and Cost of Sales
Water revenues and cost of sales were as follows for the six months ended ($ in thousands):
June 30, 2026June 30, 2025
Acre-Feet Sold2,310 1,100 
Revenues$2,291 $1,468 
Cost of sales1,741 1,183 
Profit$550 $285 
Schedule of Tangible Water Assets
Costs assigned to water assets held for future use were as follows ($ in thousands):
June 30, 2026December 31, 2025
Banked water and water for future delivery$42,622 $44,681 
Transferable water7,205 266 
Total water held for future use at cost$49,827 $44,947 
Intangible Asset, Finite-Lived
The Company’s carrying amounts of its purchased water contracts were as follows ($ in thousands):
June 30, 2026December 31, 2025
CostsAccumulated DepreciationCostsAccumulated Depreciation
Dudley-Ridge water purchase contract *
$11,581 $(7,479)$11,581 $(7,237)
Nickel water purchase contract *
18,740 (8,139)18,740 (7,817)
Tulare Lake Basin water purchase contract *
6,479 (4,219)6,479 (4,100)
$36,800 $(19,837)$36,800 $(19,154)
Net cost of purchased water contracts16,963 17,646 
Total cost of water held for future use49,827 44,947 
Net investments in water assets$66,790 $62,593 
*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)June 30, 2026December 31, 2025
Water held for future use
TCWD - Banked water owned by the Company61,341 65,199 
Company water bank54,728 54,728 
Transferable water7,262 265 
Recharged water6,797 6,797 
Total water held for future use130,128 126,989 
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 contracts161,561 158,422