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Reporting Segments and Related Information (Tables)
 12 Months Ended
Dec. 31, 2019
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 for each of the years ended December 31:
($ in thousands)
 
2019
 
2018
 
2017
Revenues
 
 
 
 
 
 
Real estate—commercial/industrial
 
$
16,792

 
$
8,970

 
$
9,001

Mineral resources
 
9,791

 
14,395

 
5,983

Farming
 
19,331

 
18,563

 
16,434

Ranch operations
 
3,609

 
3,691

 
3,837

Segment revenues
 
49,523

 
45,619

 
35,255

Equity in unconsolidated joint ventures, net
 
16,575

 
3,834

 
4,227

Investment income
 
1,239

 
1,344

 
462

Total revenues and other income
 
67,337

 
50,738

 
39,669

Segment Profits (Losses)
 
 
 
 
 
 
Real estate—commercial/industrial
 
3,831

 
2,724

 
2,472

Real estate—resort/residential
 
(2,247
)
 
(1,530
)
 
(1,955
)
Mineral resources
 
3,973

 
8,172

 
3,019

Farming
 
4,080

 
2,535

 
233

Ranch operations
 
(1,707
)
 
(1,760
)
 
(1,574
)
Segment profits (1)
 
7,930

 
10,141

 
2,195

Equity in unconsolidated joint ventures, net
 
16,575

 
3,834

 
4,227

Investment income
 
1,239

 
1,344

 
462

Other income
 
(1,824
)
 
(59
)
 
(275
)
Corporate expenses
 
(9,361
)
 
(9,705
)
 
(9,713
)
Income from operations before income taxes
 
$
14,559

 
$
5,555

 
$
(3,104
)
 
 
 
 
 
 
 
(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 following table summarizes revenues, expenses and operating results from this segment for each of the years ended December 31:
($ in thousands)
 
2019
 
2018
 
2017
Mineral resources revenues
 
$
9,791

 
$
14,395

 
$
5,983

Mineral resources expenses
 
$
5,818

 
$
6,223

 
$
2,964

Operating results from mineral resources
 
$
3,973

 
$
8,172

 
$
3,019

The farming segment produces revenues from the sale of wine grapes, almonds, pistachios and hay. The following table summarizes revenues, expenses and operating results from this segment for each of the years ended December 31:
($ in thousands)
 
2019
 
2018
 
2017
Farming revenues
 
$
19,331

 
$
18,563

 
$
16,434

Farming expenses
 
$
15,251

 
$
16,028

 
$
16,201

Operating results from farming
 
$
4,080

 
$
2,535

 
$
233

The following table summarizes revenues, expenses and operating results from this segment for each of the years ended December 31:
($ in thousands)
 
2019
 
2018
 
2017
Ranch operations revenues
 
$
3,609

 
$
3,691

 
$
3,837

Ranch operations expenses
 
$
5,316

 
$
5,451

 
$
5,411

Operating results from ranch operations
 
$
(1,707
)
 
$
(1,760
)
 
$
(1,574
)
The following table summarizes revenues, expenses and operating income from this segment for each of the years ended December 31:
($ in thousands)
2019
 
2018
 
2017
Commercial revenues
$
16,792

 
$
8,970

 
$
9,001

Equity in earnings of unconsolidated joint ventures
16,575

 
3,834

 
4,227

Commercial revenues and equity in earnings of unconsolidated joint ventures
$
33,367

 
$
12,804

 
$
13,228

Commercial expenses
12,961

 
6,246

 
6,529

Operating results from commercial and unconsolidated joint ventures
$
20,406

 
$
6,558

 
$
6,699

 
 
 
 
 
 
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
2019
 
 
 
 
 
 
Real estate - commercial/industrial
 
$
76,814

 
$
517

 
$
8,690

Real estate - resort/residential
 
286,801

 
51

 
12,811

Mineral resources
 
55,049

 
1,371

 
37

Farming
 
41,258

 
1,909

 
3,362

Ranch operations
 
2,624

 
526

 
213

Corporate
 
76,876

 
662

 
109

Total
 
$
539,422

 
$
5,036

 
$
25,222

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