Quarterly report [Sections 13 or 15(d)]

INVESTMENTS IN WATER ASSETS (Tables)

v3.25.2
INVESTMENTS IN WATER ASSETS (Tables)
6 Months Ended
Jun. 30, 2025
Real Estate [Abstract]  
Schedule of Water Asset Investments The following table summarizes the total acre-feet of banked water obtained through exercising these contracts as of June 30, 2025 (dollars in thousands):
Period Acquired Acre-feet of Banked Water Available to Purchase per Contract
Acre-feet of Banked Water Purchased(1)
Value Attributed to Contract(2)
Cost to Exercise Contract Total Carrying Value of Banked Water Purchased
Three months ended December 31, 2023 1,003 1,003 $ 401  $ 62  $ 463 
Three months ended March 31, 2024 2,306 2,306 923  141  1,064 
Total 3,309 3,309 $ 1,324  $ 203  $ 1,527 
(1)All contracts to purchase additional banked water were exercised in the same quarter in which the respective contract was conveyed to us.
(2)Represents noncash income received during the respective periods. The straight-line impact of these receipts is included within Lease revenue, net on the accompanying Condensed Consolidated Statements of Operations and Comprehensive Income.