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Reporting Segments and Related Information (Tables)
 12 Months Ended
Dec. 31, 2018
Segment Reporting [Abstract]  
Reconciliation of revenues, segment profits (losses) and net income (loss)
Information pertaining to operating results of the Company's reporting segments are as follows:
($ in thousands)
 
December 31, 2018
 
December 31, 2017
 
December 31, 2016
Revenues
 
 
 
 
 
 
Real estate—commercial/industrial
 
$
8,970

 
$
9,001

 
$
9,840

Mineral resources
 
14,395

 
5,983

 
14,153

Farming
 
18,563

 
16,434

 
18,648

Ranch operations
 
3,691

 
3,837

 
3,338

Segment revenues
 
45,619

 
35,255

 
45,979

Equity in unconsolidated joint ventures, net
 
3,834

 
4,227

 
7,098

Gain on sale of real estate
 
—

 
—

 
1,044

Investment income
 
1,344

 
462

 
457

Other income
 
(59
)
 
(275
)
 
(581
)
Total revenues and other income
 
50,738

 
39,669

 
53,997

Segment Profits (Losses)
 
 
 
 
 
 
Real estate—commercial/industrial
 
2,724

 
2,472

 
2,740

Real estate—resort/residential
 
(1,530
)
 
(1,955
)
 
(1,630
)
Mineral resources
 
8,172

 
3,019

 
6,357

Farming
 
2,535

 
233

 
(25
)
Ranch operations
 
(1,760
)
 
(1,574
)
 
(2,396
)
Segment profits (1)
 
10,141

 
2,195

 
5,046

Equity in unconsolidated joint ventures, net
 
3,834

 
4,227

 
7,098

Gain on sale of real estate
 
—

 
—

 
1,044

Investment income
 
1,344

 
462

 
457

Other income
 
(59
)
 
(275
)
 
(581
)
Corporate expenses
 
(9,705
)
 
(9,713
)
 
(11,811
)
Income from operations before income taxes
 
$
5,555

 
$
(3,104
)
 
$
1,253

 
 
 
 
 
 
 
(1) Segment profits are revenues less operating expenses, excluding investment income and expense, corporate expenses, equity in earnings of unconsolidated joint ventures, and income taxes.
Components of segment revenues
The revenue components of the commercial/industrial real estate segment for the years ended December 31 are as follows:
($ in thousands)
2018
 
2017
 
2016
Pastoria Energy Facility Lease
$
4,056

 
$
3,854

 
$
3,612

TRCC Leasing
1,760

 
1,748

 
1,647

TRCC management fees and reimbursements
822

 
1,083

 
955

Commercial leases
692

 
652

 
917

Communication leases
904

 
808

 
806

Landscaping and other
736

 
783

 
791

Land sale1
—

 
73

 
1,112

Total commercial revenues
$
8,970

 
$
9,001

 
$
9,840

Equity in earnings of unconsolidated joint ventures
3,834

 
4,227

 
7,098

Commercial revenues & equity in earnings of unconsolidated joint ventures
$
12,804

 
$
13,228

 
$
16,938

 
 
 
 
 
 
(1) Revenue from land sale relates to a purchase and sale agreement entered into with a third party in 2016. Due to a performance obligation, the Company recognized a portion of the sale in 2016, with the remainder being recognized in 2017.
The farming segment produces revenues from the sale of wine grapes, almonds, pistachios and hay. The revenue components of the farming segment were as follows for each of the year ended December 31:
($ in thousands)
 
2018
 
2017
 
2016
Almonds
 
$
5,744

 
$
6,327

 
$
7,373

Pistachios
 
7,880

 
4,523

 
6,199

Wine grapes
 
3,683

 
4,131

 
3,744

Hay
 
297

 
456

 
520

Total crop proceeds
 
17,604

 
15,437

 
17,836

Other farming revenues
 
959

 
997

 
812

Total farming revenues
 
$
18,563

 
$
16,434

 
$
18,648

The following table summarizes these activities for each of the years ended December 31:
($ in thousands)
 
2018
 
2017
 
2016
Oil and gas
 
$
2,278

 
$
1,659

 
$
1,549

Rock aggregate
 
1,143

 
1,072

 
1,164

Cement
 
1,695

 
1,614

 
1,299

Exploration leases
 
102

 
102

 
176

Water sales
 
9,142

 
1,254

 
9,601

Reimbursable
 
35

 
282

 
364

Total mineral resources revenues
 
$
14,395

 
$
5,983

 
$
14,153

($ in thousands)
 
2018
 
2017
 
2016
Game management
 
$
1,382

 
$
1,291

 
$
1,296

Grazing
 
1,520

 
1,677

 
1,187

High Desert Hunt Club
 
305

 
351

 
334

Filming and other
 
484

 
518

 
521

Total ranch operations revenues
 
$
3,691

 
$
3,837

 
$
3,338
Schedule of information pertaining to assets of segments
Information pertaining to assets of the Company’s reporting segments is as follows for each of the years ended December 31: 
($ in thousands)
 
Identifiable
Assets
 
Depreciation and Amortization
 
Capital
Expenditures
2018
 
 
 
 
 
 
Real estate - commercial/industrial
 
$
65,929

 
$
651

 
$
5,225

Real estate - resort/residential
 
273,620

 
58

 
13,459

Mineral resources
 
54,144

 
1,372

 
171

Farming
 
40,835

 
1,897

 
3,166

Ranch operations
 
2,973

 
536

 
102

Corporate
 
91,547

 
910

 
457

Total
 
$
529,048

 
$
5,424

 
$
22,580

2017
 
 
 
 
 
 
Real estate - commercial/industrial
 
$
63,065

 
$
650

 
$
4,638

Real estate - resort/residential
 
258,697

 
63

 
14,230

Mineral resources
 
48,305

 
1,363

 
356

Farming
 
36,317

 
2,080

 
2,129

Ranch operations
 
3,625

 
601

 
220

Corporate
 
108,190

 
932

 
136

Total
 
$
518,199

 
$
5,689

 
$
21,709

2016
 
 
 
 
 
 
Real estate - commercial/industrial
 
$
65,290

 
$
614

 
$
5,196

Real estate - resort/residential
 
243,963

 
77

 
16,013

Mineral resources
 
45,066

 
1,357

 
2,161

Farming
 
36,895

 
2,146

 
2,006

Ranch operations
 
3,893

 
614

 
523

Corporate
 
44,434

 
849

 
481

Total
 
$
439,541

 
$
5,657

 
$
26,380