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Business Segments | 6 Months Ended
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Jun. 30, 2015
Segment Reporting [Abstract] |
Business Segments | BUSINESS SEGMENTS We currently operate in four business segments: commercial/industrial real estate development; resort/residential real estate development; mineral resources; and farming. Commercial lease revenue consists of land and building leases to tenants at our commercial retail and industrial developments, base and percentage rents from our power plant lease, communication tower rents, and payments from easement leases. Land management ancillary services include development fees, wildlife management, landscape and property maintenance, and building management services. The revenue components of the commercial/industrial real estate development segment were as follows:
| Three Months Ended June 30 |  | Six Months Ended June 30
($ in thousands) | 2015 |  | 2014 |  | 2015 |  | 2014
Commercial leases | $ | 1,650 |  |  | $ | 1,510 |  |  | $ | 3,795 |  |  | $ | 2,785 |
Grazing leases | 524 |  |  | 346 |  |  | 911 |  |  | 713 |
All other land management ancillary services | 851 |  |  | 697 |  |  | 1,681 |  |  | 1,997 |
Total commercial revenues | 3,025 |  |  | 2,553 |  |  | 6,387 |  |  | 5,495 |
Profit (loss) from commercial activities | (70 | ) |  | (783 | ) |  | 90 |  |  | (1,152 | )
Equity in earnings of unconsolidated joint ventures | 1,656 |  |  | 1,148 |  |  | 2,806 |  |  | 1,621 |
Income from commercial/industrial and unconsolidated joint ventures | $ | 1,586 |  |  | $ | 365 |  |  | $ | 2,896 |  |  | $ | 469 |
The resort/residential real estate land development segment produces revenues from management fees and is actively involved in the land entitlement and pre-development process. The revenue components of the resort/residential real estate land development segment, which represented management fees from TMV prior to us acquiring the remaining ownership interest from our joint venture partner, were as follows:
| Three Months Ended June 30 |  | Six Months Ended June 30
($ in thousands) | 2015 |  | 2014 |  | 2015 |  | 2014
Management fees | $ | — |  |  | $ | 90 |  |  | $ | — |  |  | $ | 180 |
Other | — |  |  | — |  |  | — |  |  | 3 |
Total revenue | — |  |  | 90 |  |  | — |  |  | 183 |
Equity in losses of unconsolidated joint ventures | — |  |  | (14 | ) |  | — |  |  | (35 | )
Revenues and equity in earnings of unconsolidated joint ventures | — |  |  | 76 |  |  | — |  |  | 148 |
Loss from resort/residential | $ | (576 | ) |  | (611 | ) |  | (1,327 | ) |  | (1,003 | )
The mineral resources segment receives oil and mineral royalties from the exploration and development companies that extract or mine the natural resources from our land and receives revenue from water sales. The revenue components of the mineral resources segment was as follows:
| Three Months Ended June 30 |  | Six Months Ended June 30
($ in thousands) | 2015 |  | 2014 |  | 2015 |  | 2014
Oil and gas | $ | 917 |  |  | $ | 1,782 |  |  | $ | 1,693 |  |  | $ | 3,522 |
Water sales | 1,172 |  |  | 313 |  |  | 10,165 |  |  | 7,703 |
Rock aggregate | 245 |  |  | 329 |  |  | 347 |  |  | 592 |
Cement | 301 |  |  | 274 |  |  | 543 |  |  | 479 |
Land lease for oil exploration | 17 |  |  | 56 |  |  | 104 |  |  | 112 |
Total revenue | 2,652 |  |  | 2,754 |  |  | 12,852 |  |  | 12,408 |
Income from mineral resources activities | $ | 1,929 |  |  | $ | 2,128 |  |  | $ | 6,435 |  |  | $ | 6,981 |
The farming segment produces revenues from the sale of almonds, pistachios, wine grapes, and hay. The revenue components of the farming segment were as follows:
| Three Months Ended June 30 |  | Six Months Ended June 30
($ in thousands) | 2015 |  | 2014 |  | 2015 |  | 2014
Almonds | $ | 663 |  |  | $ | 820 |  |  | $ | 3,379 |  |  | $ | 2,095 |
Pistachios | 514 |  |  | 1,811 |  |  | 763 |  |  | 2,119 |
Hay | 112 |  |  | 138 |  |  | 205 |  |  | 404 |
Total crop proceeds | 1,289 |  |  | 2,769 |  |  | 4,347 |  |  | 4,618 |
Other farming revenues | 34 |  |  | 155 |  |  | 47 |  |  | 152 |
Total farming revenues | 1,323 |  | 2,924 |  | 4,394 |  | 4,770
Income from farming activities | $ | 79 |  |  | $ | 1,496 |  |  | $ | 807 |  |  | $ | 1,478 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 + Details
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