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Reporting Segments and Related Information
 9 Months Ended
Sep. 30, 2020
Segment Reporting [Abstract]  
Reporting Segments and Related Information REPORTING SEGMENTS AND RELATED INFORMATION
The Company currently operates in five reporting segments: commercial/industrial real estate development, resort/residential real estate development, mineral resources, farming, and ranch operations. For further details of the revenue components within each reporting segment, see Results of Operations by Segment in Item 2, "Management's Discussion and Analysis of Financial Condition and Results of Operations".

Real estate - Commercial/Industrial
Commercial/Industrial real estate development segment revenues consist of land sale revenues, land and building leases to tenants at the Company's commercial retail developments, base and percentage rents from the PEF power plant lease, communication tower leases, and easement leases. The following table summarizes revenues, expenses and operating income from this segment for the periods ended:
Three Months Ended September 30,Nine Months Ended September 30,
($ in thousands)2020201920202019
Commercial/industrial revenues$2,710 $2,620 $7,144 $12,041 
Equity in earnings of unconsolidated joint ventures1,093 2,199 3,629 5,046 
Commercial/industrial revenues and equity in earnings of unconsolidated joint ventures3,803 4,819 10,773 17,087 
Commercial/industrial expenses2,026 1,968 5,704 8,353 
Operating results from commercial/industrial and unconsolidated joint ventures $1,777 $2,851 $5,069 $8,734 

Real Estate - Resort/Residential
The Resort/Residential real estate development segment is actively involved in pursuing land entitlement and development processes both internally and through joint ventures. The segment incurs costs and expenses related to land management activities on land held for future development, but currently generates no revenue. The segment generated losses of $273,000 and $582,000 for the three months ended September 30, 2020 and 2019, and $1,225,000 and $1,872,000 for the nine months ended September 30, 2020 and 2019, respectively.

Mineral Resources
The Mineral Resources segment receives oil and mineral royalties from the exploration and development companies that extract or mine the natural resources from the Company's land and receives revenue from water sales. The following table summarizes revenues, expenses and operating results from this segment for the periods ended:
Three Months Ended September 30,Nine Months Ended September 30,
($ in thousands)2020201920202019
Mineral resources revenues$1,322 $1,559 $9,276 $8,351 
Mineral resources expenses648 576 5,240 5,006 
Operating results from mineral resources $674 $983 $4,036 $3,345 
Farming
The Farming segment revenues include the sale of almonds, pistachios, wine grapes, and hay. The following table summarizes revenues, expenses and operating results from this segment for the periods ended:
Three Months Ended September 30,Nine Months Ended September 30,
($ in thousands)2020201920202019
Farming revenues$8,537 $4,602 $9,698 $6,303 
Farming expenses8,108 5,979 10,909 8,402 
Operating results from farming$429 $(1,377)$(1,211)$(2,099)

Ranch Operations
The Ranch Operations segment consists of game management revenues and ancillary land uses such as grazing leases. The following table summarizes revenues, expenses and operating results from this segment for the periods ended:
Three Months Ended September 30,Nine Months Ended September 30,
($ in thousands)2020201920202019
Ranch operations revenues$944 $876 $2,483 $2,570 
Ranch operations expenses1,164 1,260 3,748 4,003 
Operating results from ranch operations$(220)$(384)$(1,265)$(1,433)