Cover
Cover - shares | 3 Months Ended | |
Mar. 31, 2022 | May 02, 2022 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2022 | |
Document Transition Report | false | |
Entity File Number | 033-36383 | |
Entity Registrant Name | VIDLER WATER RESOURCES, INC. | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 94-2723335 | |
Entity Address, Address Line One | 3480 GS Richards Blvd | |
Entity Address, Address Line Two | Suite 101 | |
Entity Address, City or Town | Carson City | |
Entity Address, State or Province | NV | |
Entity Address, Postal Zip Code | 89703 | |
City Area Code | 775 | |
Local Phone Number | 885-5000 | |
Title of 12(b) Security | Common Stock, par Value $0.001 | |
Trading Symbol | VWTR | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 18,299,879 | |
Amendment Flag | false | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2022 | |
Current Fiscal Year End Date | --12-31 | |
Entity Central Index Key | 0000830122 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - Unaudited - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Assets | ||
Cash and cash equivalents | $ 25,535 | $ 28,181 |
Real estate and tangible water assets, net | 34,495 | 34,495 |
Intangible assets | 119,750 | 119,963 |
Right of use assets, net | 200 | 240 |
Deferred income tax asset | 27,505 | 27,505 |
Other assets | 2,350 | 2,274 |
Total assets | 209,835 | 212,658 |
Liabilities and equity | ||
Lease liabilities | 200 | 240 |
Other liabilities | 1,342 | 3,392 |
Accounts payable and accrued expenses | 791 | 430 |
Total liabilities | 2,333 | 4,062 |
Commitments and contingencies (Note 4) | ||
Preferred stock, $0.001 par value; authorized 10,000 shares, none issued | ||
Common stock, $0.001 par value; authorized 100,000 shares, 18,312 issued and 18,300 outstanding at March 31, 2022, and 18,312 issued and 18,311 outstanding at December 31, 2021 | 18 | 18 |
Additional paid-in capital | 330,257 | 329,691 |
Accumulated deficit | (122,630) | (121,099) |
Treasury stock, at cost (common shares:12 at March 31, 2022 and 1 at December 31, 2021) | (143) | (14) |
Total shareholders’ equity | 207,502 | 208,596 |
Total liabilities and shareholders’ equity | $ 209,835 | $ 212,658 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets - Unaudited (Parenthetical) - $ / shares | Mar. 31, 2022 | Dec. 31, 2021 |
Preferred stock | ||
Par value (in dollars per share) | $ 0.001 | $ 0.001 |
Shares authorized (in shares) | 10,000,000 | 10,000,000 |
Shares issued (in shares) | 0 | 0 |
Common stock | ||
Par value (in dollars per share) | $ 0.001 | $ 0.001 |
Shares authorized (in shares) | 100,000,000 | 100,000,000 |
Shares issued (in shares) | 18,312,000 | 18,312,000 |
Shares outstanding (in shares) | 18,300,000 | 18,311,000 |
Treasury stock | ||
Common shares held (in shares) | 12,000 | 1,000 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations - Unaudited - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Revenues and other income: | ||
Sale of real estate and water assets | $ 776 | $ 2,718 |
Other income, net | 190 | 215 |
Total revenues and other income | 966 | 2,933 |
Cost of sales and expenses: | ||
Cost of real estate and water assets sold | 213 | 375 |
General, administrative, and other | 2,236 | 1,796 |
Depreciation and amortization | 48 | 48 |
Total cost of sales and expenses | 2,497 | 2,219 |
Income (loss) before income taxes | (1,531) | 714 |
Provision for federal and state income taxes | 0 | (182) |
Net income (loss) | $ (1,531) | $ 532 |
Net income (loss) per common share – basic (in dollars per share) | $ (0.08) | $ 0.03 |
Net income (loss) per common share – diluted (in dollars per share) | $ (0.08) | $ 0.03 |
Weighted average shares outstanding, basic (in shares) | 18,206 | 18,544 |
Weighted average shares outstanding, diluted (in shares) | 18,206 | 18,544 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Equity - Unaudited - USD ($) $ in Thousands | Total | Common Stock | Additional Paid-in Capital | Accumulated Deficit | Treasury Stock |
Balance at beginning of period (in shares) at Dec. 31, 2020 | 18,586,000 | ||||
Balance at beginning of period at Dec. 31, 2020 | $ 178,270 | $ 19 | $ 332,290 | $ (154,009) | $ (30) |
Balance at beginning of period, treasury stock (in shares) at Dec. 31, 2020 | 3,000 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Stock-based compensation expense | 42 | 42 | |||
Purchases of treasury stock (in shares) | 107,000 | ||||
Purchases of treasury stock | (986) | $ (986) | |||
Retirement of treasury stock (in shares) | (104,000) | (104,000) | |||
Retirement of treasury stock | (1) | $ (1) | (959) | $ 959 | |
Net income (loss) | 532 | 532 | |||
Balance at end of period (in shares) at Mar. 31, 2021 | 18,482,000 | ||||
Balance at end of period at Mar. 31, 2021 | $ 177,857 | $ 18 | 331,373 | (153,477) | $ (57) |
Balance at end of period, treasury stock (in shares) at Mar. 31, 2021 | 6,000 | ||||
Balance at beginning of period (in shares) at Dec. 31, 2021 | 18,312,000 | 18,312,000 | |||
Balance at beginning of period at Dec. 31, 2021 | $ 208,596 | $ 18 | 329,691 | (121,099) | $ (14) |
Balance at beginning of period, treasury stock (in shares) at Dec. 31, 2021 | 1,000 | 1,000 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Stock-based compensation expense | $ 566 | 566 | |||
Purchases of treasury stock (in shares) | 11,000 | ||||
Purchases of treasury stock | (129) | $ (129) | |||
Net income (loss) | $ (1,531) | (1,531) | |||
Balance at end of period (in shares) at Mar. 31, 2022 | 18,312,000 | 18,312,000 | |||
Balance at end of period at Mar. 31, 2022 | $ 207,502 | $ 18 | $ 330,257 | $ (122,630) | $ (143) |
Balance at end of period, treasury stock (in shares) at Mar. 31, 2022 | 12,000 | 12,000 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows - Unaudited - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Operating activities: | ||
Cash provided by (used in) operating activities | $ (2,517) | $ 1,066 |
Net cash provided by (used in) operating activities | (2,517) | 1,066 |
Investing activities: | ||
Proceeds from sale of property, plant and equipment | 0 | 23 |
Net cash provided by investing activities | 0 | 23 |
Financing activities: | ||
Purchases of treasury stock | (129) | (986) |
Net cash used in financing activities | (129) | (986) |
Increase (decrease) in cash and cash equivalents | (2,646) | 103 |
Cash and cash equivalents, beginning of the period | 28,181 | 9,388 |
Cash and cash equivalents, end of the period | $ 25,535 | $ 9,491 |
Basis of Presentation and Summa
Basis of Presentation and Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation and Summary of Significant Accounting Policies | Basis of Presentation and Summary of Significant Accounting Policies The accompanying unaudited, condensed consolidated financial statements of Vidler Water Resources, Inc. and subsidiaries (collectively, the “Company” or “Vidler”) have been prepared in accordance with the interim reporting requirements of Form 10-Q, pursuant to the rules and regulations of the United States Securities and Exchange Commission (the “SEC”). Accordingly, they do not include all of the information and notes required by generally accepted accounting principles in the United States of America (“U.S. GAAP”) for complete consolidated financial statements. In the opinion of management, all adjustments and reclassifications considered necessary for a fair and comparable presentation of the financial statements presented have been included and are of a normal recurring nature. Operating results presented are not necessarily indicative of the results that may be expected for the year ending December 31, 2022. These condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 filed with the SEC. Smaller Reporting Company The Company qualifies as a smaller reporting company (“SRC”) under the SEC’s definition and therefore certain disclosures that are no longer required have been removed in accordance with the SEC’s disclosure requirements for SRCs. Use of Estimates in Preparation of Financial Statements The preparation of condensed consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses for each reporting period. The significant estimates made in the preparation of the Company’s condensed consolidated financial statements relate to intangibles, real estate and water assets, deferred income taxes, stock based compensation and contingent liabilities. While management believes that the carrying value of such asset and liabilities were appropriate as of March 31, 2022 and comparative periods, it is reasonably possible that actual results could differ from the estimates upon which the carrying values were based. |
Tangible Water Assets and Real
Tangible Water Assets and Real Estate, Net | 3 Months Ended |
Mar. 31, 2022 | |
Real Estate [Abstract] | |
Tangible Water Assets and Real Estate, Net | Tangible Water Assets and Real Estate, Net The costs assigned to the various components of tangible water assets and real estate, net, were as follows (in thousands): March 31, 2022 December 31, 2021 Real estate and improvements held and used, net of accumulated depreciation of $12,003 at each of March 31, 2022, and December 31, 2021 $ 9,469 $ 9,469 Other real estate inventories 3,359 3,359 Tangible water assets 21,667 21,667 Total real estate and tangible water assets $ 34,495 $ 34,495 |
Intangible Assets
Intangible Assets | 3 Months Ended |
Mar. 31, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets | Intangible Assets The Company owned the following intangible assets, which primarily represent indefinite-lived intangible water assets (in thousands): March 31, 2022 December 31, 2021 Pipeline rights and water credits at Fish Springs Ranch $ 80,684 $ 80,860 Pipeline rights and water rights at Carson-Lyon 26,323 26,323 Other 12,743 12,780 Total intangible assets $ 119,750 $ 119,963 |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies The Company leases its office under a non-cancelable operating lease that expires in 2023. Rent expense for office space was $39,000 and $39,000 for the three months ended March 31, 2022 and 2021, respectively. Future minimum payments under all operating leases are as follows (in thousands): Year ending December 31, 2022 120 2023 81 Total $ 201 Neither the Company nor its subsidiaries are parties to any potentially material pending legal proceedings during the quarter. The Company is subject to legal proceedings described in Item 3 of the Company’s 10-K filed March 22, 2022 , which are incorporated herein by reference. Except as described below, there have been no material changes in the litigation since then. On April 28, 2022, in connection with the proposed acquisition of the Company by an affiliate of D.R. Horton, Inc. (the “Transaction”), a purported individual stockholder of the Company filed a complaint in the United States District Court for the Southern District of New York, captioned Stein v. Vidler Water Resources, Inc., et al, No. 1:22-cv-3468 (“Stein”), naming as defendants the Company and each member of the Company’s board of directors as of the date of the Merger Agreement (as defined below). On May 2, 2022, one additional case was filed by a purported individual stockholder of the Company in the same court, captioned Casey v. Vidler Water Resources, et al, No. 1:22-cv-3528 (“Casey”). On May 2, 2022 and May 6, 2022, two additional cases were filed by purported individual stockholders of the Company in the United States District Court for the Eastern District of New York, captioned, respectively, Rabinovich v. Vidler Water Resources, Inc, et al, No. 1:22-cv-2509 (“Rabinovich), and Koh v. Vidler Water Resources, Inc., et al, No. 1:22-cv-2631 (“Koh”). On May 12, 2022, three additional cases were filed by purported individual stockholders of the Company in the United States District Court for the District of Delaware, the United Stated District Court for the Eastern District of Pennsylvania, and the United States District Court for the Eastern District of New York, captioned, respectively, Wilhelm v. Vidler Water Resources, Inc., et al, No. 1:22-cv-00631 (“Wilhelm”), Waterman v. Vidler Water Resources, Inc., et al, No. 2:22-cv-01854 (“Waterman”), and Whitfield v. Vidler Water Resources, Inc., et al, No. 1:22-cv-02788 (“Whitfield”). On May 13, 2022, one additional case was filed by a purported individual stockholder of the Company in the United States District Court for the Southern District of New York, captioned Taylor v. Vidler Water Resources, Inc., at al, No. 1:22-cv-03909 (“Taylor”). The Stein, Casey, Rabinovich, Koh, Wilhelm, Waterman, Whitfield, Taylor, and any similar subsequently filed cases involving the Company, the Company’s board of directors or any committee thereof, and/or any of the Company’s directors or officers relating directly or indirectly to the Merger Agreement, the Transaction, or any related transaction, are referred to as the “Transaction Litigations.” The Transaction Litigations filed to date generally allege that the Solicitation/Recommendation Statement on Schedule 14D-9 (the “Schedule 14D-9”) filed by the Company with the SEC on April 27, 2022, in connection with the Transaction is materially incomplete and misleading by allegedly failing to disclose purportedly material information relating to the sale process leading to the Transaction, the Company’s financial projections, and the analyses performed by Duff & Phelps Opinion Practice, Kroll LLC in connection with the Transaction. The Transaction Litigations assert violations of Section 14(e), Section 14(d), and Section 20(a) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and Rule 14d-9 promulgated thereunder. The Transaction Litigations seek, among other things: an injunction enjoining consummation of the Transaction, rescission of the Merger Agreement, dissemination of a revised Schedule 14D-9, damages, a declaration that the Company and the board of directors violated Sections 14(e), 14(d), and 20(a) of the Exchange Act and Rule 14d-9 promulgated thereunder, costs of the action, including plaintiff’s attorneys’ fees and experts’ fees and expenses, and any other relief the court may deem just and proper. In addition, on May 2, 2022 and May 10, 2022, the Company received demand letters from purported stockholders of the Company alleging that the Schedule 14D-9 omits purportedly material information relating to the Transaction (the “Demand Letters”). The Company cannot predict the outcome of the Transaction Litigations or the Demand Letters, nor can the Company predict the amount of time and expense that will be required to resolve each. The Company believes that the Transaction Litigations and Demand Letters are without merit and intends to vigorously defend against each, and any subsequently filed similar actions. The Company is also subject to various litigation matters that arise in the ordinary course of its business. Because litigation is inherently unpredictable and unfavorable results could occur, assessing contingencies is highly subjective and requires judgments about future events. When evaluating contingencies, the Company may be unable to provide a meaningful estimate due to a number of factors, including the procedural status of the matter in question, the presence of complex or novel legal theories, and/or the ongoing discovery and development of information important to the matters. In addition, damage amounts claimed in litigation against the Company may be unsupported, exaggerated, or unrelated to possible outcomes, and as such, are not meaningful indicators of the potential liability. The Company regularly reviews contingencies to determine the adequacy of accruals and related disclosures. The amount of ultimate loss may differ from these estimates, and it is possible that the financial statements could be materially affected in any particular period by the unfavorable resolution of one or more of these contingencies. Whether any losses finally determined in any claim, action, investigation, or proceeding could reasonably have a material effect on the Company’s business, financial condition, results of operations, or cash flows will depend on a number of variables, including: the timing and amount of such losses; the structure and type of any remedies; the significance of the impact any such losses, damages or remedies may have on the Company’s condensed consolidated financial statements; and the unique facts and circumstances of the particular matter that may give rise to additional factors. |
Subsequent Events
Subsequent Events | 3 Months Ended |
Mar. 31, 2022 | |
Subsequent Events [Abstract] | |
Subsequent Events | Subsequent Events Kane Springs On April 19, 2022, Clark County District Judge Bita Yeager issued her Decision in the Eighth Judicial District Court Consolidated Case No. A-20-816761-C which granted the petition for judicial review of the Nevada State Engineer’s Order 1309 filed by Petitioners, Lincoln County Water District and Vidler’s wholly-owned subsidiary, Vidler Water Company, Inc. The Court also granted similar petitions by Coyote Springs Investments, LLC as well as other Petitioners impacted by the State Engineer’s actions. The Court ordered that State Engineer’s Order 1309 be vacated in its entirety because the Nevada State Engineer exceeded his statutory authority in creating a “Super Basin” out of multiple distinct and already established hydrographic basins. Merger Agreement On April 13, 2022, the Company, D.R. Horton, Inc., a Delaware corporation (“Parent”), and Potable Merger Sub, Inc., a Delaware corporation and wholly owned subsidiary of Parent (“Purchaser”), entered into an Agreement and Plan of Merger (the “Merger Agreement”). Pursuant to the Merger Agreement, and upon the terms and subject to the conditions thereof, Parent agreed to cause Purchaser to commence a tender offer (the “Offer”) to purchase all of the outstanding shares of common stock of the Company, par value $0.001 per share (the “Shares” and each, a “Share”), at an offer price of $15.75 per Share, less any applicable withholding taxes and without interest (the “Offer Price”). Following the successful closing of the Offer, and subject to the terms and conditions of the Merger Agreement, Purchaser will be merged with and into the Company (the “Merger” and, together with the Offer, the “Transactions”) pursuant to Section 251(h) of the General Corporation Law of the State of Delaware (the “DGCL”), with the Company continuing as the surviving corporation in the Merger and a wholly owned subsidiary of Parent. At the effective time of the Merger, each Share that was not tendered in the Offer, other than the Cancelled Shares and Dissenting Shares (as each are defined in the Merger Agreement), will be converted into the right to receive the Offer Price, less any applicable withholding taxes and without interest (the “Merger Consideration”). Purchaser commenced the Offer on April 27, 2022, with a scheduled expiration time of one minute following 11:59 pm Eastern Time on May 24, 2022, unless the offer is extended or terminated. The board of directors of the Company (the “Company Board”) has unanimously (i) approved, adopted and declared advisable the Merger Agreement and the Transactions, (ii) determined that the Transactions are in the best interest of the Company and its stockholders, (iii) resolved that the Merger shall be governed by and effected under Section 251(h) of the DGCL and (iv) resolved to recommend that the stockholders of the Company accept the Offer and tender their Shares to Purchaser pursuant to the Offer. The Merger Agreement provides that each option to acquire Shares (each a “Company Option”) that is outstanding and exercisable immediately prior to the Effective Time (as defined in the Merger Agreement) shall be cancelled and converted into the right to receive from Parent an amount of cash, without interest, equal to the product of: (a) the aggregate number of Shares subject to such Company Option, multiplied by (b) the excess, if any, of the Merger Consideration over the per share exercise price under such Company Option, less any taxes required to be withheld. If the per share exercise price under any Company Option is equal to or greater than the Merger Consideration or if any Company Option is not exercisable immediately prior to the Effective Time, such Company Option shall be cancelled as of the Effective Time without payment and shall have no further force or effect. The Merger Agreement also provides that each restricted stock unit award issued by the Company (each a “Company RSU”) that is outstanding immediately prior to the Effective Time will vest in full and become free of restrictions and shall be cancelled and converted automatically into the right to receive from Parent an amount in cash, without interest, equal to the Merger Consideration less any taxes required to be withheld. |
Basis of Presentation and Sum_2
Basis of Presentation and Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | The accompanying unaudited, condensed consolidated financial statements of Vidler Water Resources, Inc. and subsidiaries (collectively, the “Company” or “Vidler”) have been prepared in accordance with the interim reporting requirements of Form 10-Q, pursuant to the rules and regulations of the United States Securities and Exchange Commission (the “SEC”). Accordingly, they do not include all of the information and notes required by generally accepted accounting principles in the United States of America (“U.S. GAAP”) for complete consolidated financial statements. |
Use of Estimates in Preparation of Financial Statements | Use of Estimates in Preparation of Financial Statements The preparation of condensed consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses for each reporting period. The significant estimates made in the preparation of the Company’s condensed consolidated financial statements relate to intangibles, real estate and water assets, deferred income taxes, stock based compensation and contingent liabilities. While management believes that the carrying value of such asset and liabilities were appropriate as of March 31, 2022 and comparative periods, it is reasonably possible that actual results could differ from the estimates upon which the carrying values were based. |
Tangible Water Assets and Rea_2
Tangible Water Assets and Real Estate, Net (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Real Estate [Abstract] | |
Costs Assigned to Various Components of Tangible Water Assets and Real Estate, Net | The costs assigned to the various components of tangible water assets and real estate, net, were as follows (in thousands): March 31, 2022 December 31, 2021 Real estate and improvements held and used, net of accumulated depreciation of $12,003 at each of March 31, 2022, and December 31, 2021 $ 9,469 $ 9,469 Other real estate inventories 3,359 3,359 Tangible water assets 21,667 21,667 Total real estate and tangible water assets $ 34,495 $ 34,495 |
Intangible Assets (Tables)
Intangible Assets (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets | The Company owned the following intangible assets, which primarily represent indefinite-lived intangible water assets (in thousands): March 31, 2022 December 31, 2021 Pipeline rights and water credits at Fish Springs Ranch $ 80,684 $ 80,860 Pipeline rights and water rights at Carson-Lyon 26,323 26,323 Other 12,743 12,780 Total intangible assets $ 119,750 $ 119,963 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Future Minimum Rental Payments for Operating Leases | Future minimum payments under all operating leases are as follows (in thousands): Year ending December 31, 2022 120 2023 81 Total $ 201 |
Tangible Water Assets and Rea_3
Tangible Water Assets and Real Estate, Net (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Real Estate [Abstract] | ||
Real estate and improvements held and used, net of accumulated depreciation of $12,003 at each of March 31, 2022, and December 31, 2021 | $ 9,469 | $ 9,469 |
Other real estate inventories | 3,359 | 3,359 |
Tangible water assets | 21,667 | 21,667 |
Total real estate and tangible water assets | 34,495 | 34,495 |
Accumulated depreciation on real estate and improvements held and used | $ 12,003 | $ 12,003 |
Intangible Assets (Details)
Intangible Assets (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 |
Indefinite-lived Intangible Assets [Line Items] | ||
Intangible assets | $ 119,750 | $ 119,963 |
Pipeline rights and water credits at Fish Springs Ranch | ||
Indefinite-lived Intangible Assets [Line Items] | ||
Intangible assets | 80,684 | 80,860 |
Pipeline rights and water rights at Carson-Lyon | ||
Indefinite-lived Intangible Assets [Line Items] | ||
Intangible assets | 26,323 | 26,323 |
Other | ||
Indefinite-lived Intangible Assets [Line Items] | ||
Intangible assets | $ 12,743 | $ 12,780 |
Commitments and Contingencies -
Commitments and Contingencies - Narrative (Details) $ in Thousands | May 13, 2022case | May 12, 2022case | May 06, 2022case | May 02, 2022case | Mar. 31, 2022USD ($) | Mar. 31, 2021USD ($) |
Loss Contingencies [Line Items] | ||||||
Rent expense | $ | $ 39 | $ 39 | ||||
Subsequent Event | Casey v Vidler Water Resources, et al | ||||||
Loss Contingencies [Line Items] | ||||||
Number of new claims filed | 1 | |||||
Subsequent Event | Rabinovich v Vidler Water Resources, Inc, etc al | ||||||
Loss Contingencies [Line Items] | ||||||
Number of new claims filed | 1 | |||||
Subsequent Event | Koh v Vidler Water Resources, Inc, et al | ||||||
Loss Contingencies [Line Items] | ||||||
Number of new claims filed | 1 | |||||
Subsequent Event | Wilhelm v. Vidler Water Resources, Inc., et al | ||||||
Loss Contingencies [Line Items] | ||||||
Number of new claims filed | 1 | |||||
Subsequent Event | Waterman v. Vidler Water Resources, Inc., et al | ||||||
Loss Contingencies [Line Items] | ||||||
Number of new claims filed | 1 | |||||
Subsequent Event | Whitfield v. Vidler Water Resources, Inc., et al | ||||||
Loss Contingencies [Line Items] | ||||||
Number of new claims filed | 1 | |||||
Subsequent Event | Taylor v. Vidler Water Resources, Inc., at al | ||||||
Loss Contingencies [Line Items] | ||||||
Number of new claims filed | 1 |
Commitments and Contingencies_2
Commitments and Contingencies - Schedule of Future Minimum Payments Under Operating Leases (Details) $ in Thousands | Mar. 31, 2022USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
2022 | $ 120 |
2023 | 81 |
Total | $ 201 |
Subsequent Events (Details)
Subsequent Events (Details) - $ / shares | Apr. 13, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Subsequent Event [Line Items] | |||
Par value (in dollars per share) | $ 0.001 | $ 0.001 | |
Subsequent Event | |||
Subsequent Event [Line Items] | |||
Par value (in dollars per share) | $ 0.001 | ||
Sale of stock (in dollars per share) | $ 15.75 |