| Schedule of Segment Financial Results |
The following table presents segment financial results for the three and nine months ended September 30, 2024 and 2023 (in thousands):
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Three Months Ended
September 30, |
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Nine Months Ended
September 30, |
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2024 |
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2023 |
|
2024 |
|
2023 |
| Revenues: |
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| Land and resource management |
|
$ |
106,648 |
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|
$ |
109,933 |
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|
$ |
322,165 |
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|
$ |
315,276 |
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| Water services and operations |
|
66,915 |
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|
48,034 |
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|
197,874 |
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|
149,662 |
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| Total consolidated revenues |
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$ |
173,563 |
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|
$ |
157,967 |
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|
$ |
520,039 |
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|
$ |
464,938 |
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| Net income: |
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| Land and resource management |
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$ |
71,870 |
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$ |
82,884 |
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|
$ |
232,970 |
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|
$ |
217,860 |
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| Water services and operations |
|
34,724 |
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|
22,690 |
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|
102,630 |
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|
74,675 |
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| Total consolidated net income |
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$ |
106,594 |
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$ |
105,574 |
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$ |
335,600 |
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$ |
292,535 |
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| Capital expenditures: |
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| Land and resource management |
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$ |
66 |
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$ |
47 |
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$ |
210 |
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|
$ |
191 |
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| Water services and operations |
|
9,767 |
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|
5,196 |
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|
21,784 |
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|
10,196 |
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| Total capital expenditures |
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$ |
9,833 |
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$ |
5,243 |
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$ |
21,994 |
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$ |
10,387 |
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| Depreciation, depletion and amortization: |
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| Land and resource management |
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$ |
2,135 |
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|
$ |
703 |
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$ |
3,641 |
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|
$ |
2,233 |
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| Water services and operations |
|
3,627 |
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|
2,881 |
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|
10,054 |
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|
8,648 |
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| Total depreciation, depletion and amortization |
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$ |
5,762 |
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|
$ |
3,584 |
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$ |
13,695 |
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$ |
10,881 |
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| Schedule of Total Assets and Property, Plant and Equipment |
The following table presents total assets and property, plant and equipment, net by segment as of September 30, 2024 and December 31, 2023 (in thousands):
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September 30,
2024 |
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December 31,
2023 |
| Assets: |
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| Land and resource management |
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$ |
954,411 |
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$ |
975,136 |
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| Water services and operations |
|
221,158 |
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|
181,262 |
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| Total consolidated assets |
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$ |
1,175,569 |
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$ |
1,156,398 |
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| Property, plant and equipment, net: |
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| Land and resource management |
|
$ |
4,937 |
|
|
$ |
5,322 |
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| Water services and operations |
|
114,171 |
|
|
84,265 |
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| Total consolidated property, plant and equipment, net |
|
$ |
119,108 |
|
|
$ |
89,587 |
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