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Reporting Segments and Related Information | 3 Months Ended
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Mar. 31, 2019
Segment Reporting [Abstract] |
Reporting Segments and Related Information | REPORTING SEGMENTS AND RELATED INFORMATION We currently operate 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 7, "Management's Discussion and Analysis of Financial Condition and Results of Operations". Commercial Commercial revenue consists of land and building leases to tenants at our commercial retail and industrial developments, base and percentage rents from our PEF power plant lease, communication tower rents, and payments from easement leases. The following table summarizes revenues, expenses and operating income from this segment for periods ended:
| Three Months Ended March 31,
($ in thousands) | 2019 |  | 2018
Commercial revenues | 2,826 |  |  | 2,154 |
Equity in earnings of unconsolidated joint ventures | 876 |  |  | 167 |
Commercial revenues and equity in earnings of unconsolidated joint ventures | 3,702 |  |  | 2,321 |
Commercial expenses | 1,792 |  |  | 1,319 |
Operating results from commercial and unconsolidated joint ventures | $ | 1,910 |  |  | $ | 1,002 |
Resort Residential The resort/residential real estate development segment is actively involved in the land entitlement and development process internally and through joint ventures. The segment incurs costs and expenses related to its development activities, but currently generates no revenue. The segment produced losses of $648,000 and $415,000 for the three months ended March 31, 2019 and 2018, respectively. Mineral Resources The mineral resources segment receives oil and mineral royalties from the exploration and development companies that extract or mine the natural resources from our land and receives revenue from water sales. The following table summarizes revenues, expenses and operating results from this segment for periods ended:
| Three Months Ended March 31,
($ in thousands) | 2019 |  | 2018
Mineral resources revenues | 6,132 |  |  | 9,131 |
Mineral resources expenses | $ | 3,832 |  |  | $ | 4,231 |
Operating results from mineral resources | $ | 2,300 |  |  | $ | 4,900 |
Farming The farming segment produces revenues from the sale of almonds, pistachios, wine grapes, and hay. The following table summarizes revenues, expenses and operating results from this segment for periods ended:
| Three Months Ended March 31,
($ in thousands) | 2019 |  | 2018
Farming revenues | 815 |  |  | 1,195 |
Farming expenses | $ | 1,598 |  |  | $ | 1,838 |
Operating results from farming | $ | (783 | ) |  | $ | (643 | )
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 periods ended:
| Three Months Ended March 31,
($ in thousands) | 2019 |  | 2018
Ranch operations revenues | 889 |  |  | 989 |
Ranch operations expenses | $ | 1,350 |  |  | $ | 1,389 |
Operating results from ranch operations | $ | (461 | ) |  | $ | (400 | )

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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