Property and Equipment

12 Months Ended

Dec. 31, 2013

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

Property and equipment, net, consists of the following at December 31:



($ in thousands)	2013			2012
Land and land improvements	$	16,439		$	16,162
Buildings and improvements	13,346			13,150
Machinery, water pipelines, furniture fixtures and other equipment	15,885			14,429
Vineyards and orchards	37,752			36,625
Development in process	108,500			108,952
	191,922			189,318
Less accumulated depreciation	(45,380		)	(42,728		)
	$	146,542		$	146,590

During 2012, we recognized $648,000 of revenue related to a land sale of $4,988,000 that closed in December 2011, when offsite infrastructure related to the land sale was completed.

During 2011, we recognized $4,340,000 of revenue and a $4,058,000 gain related to a land sale of $4,988,000 that closed in December 2011 and deferred $648,000 of revenue to 2012 when offsite infrastructure related to the land sale will be completed.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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