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Business Segments (Tables)
 12 Months Ended
Dec. 31, 2013
Segment Reporting Information [Line Items]  
Reconciliation of revenues, segment profits (losses) and net income (loss)
December 31 are as follows:
 
 
2013
 
2012
 
2011
Revenues
 
 
 
 
 
 
Real estate—commercial/industrial
 
$
15,213

 
$
12,518

 
$
14,665

Real estate—resort/residential
 
1,207

 
541

 
16,131

Mineral resources (1)
 
10,242

 
14,012

 
12,206

Farming
 
22,682

 
22,553

 
21,012

Segment revenues
 
49,344

 
49,624

 
64,014

Investment income
 
941

 
1,242

 
1,260

Other income
 
66

 
113

 
98

Total revenues and other income
 
$
50,351

 
$
50,979

 
$
65,372

Segment Profits (Losses)
 
 
 
 
 
 
Real estate—commercial/industrial
 
$
2,311

 
$
247

 
$
1,444

Real estate—resort/residential
 
(2,144
)
 
(4,220
)
 
12,189

Mineral resources (1)
 
9,780

 
13,678

 
11,997

Farming
 
7,876

 
9,230

 
8,437

Segment profits (2)
 
17,823

 
18,935

 
34,067

Investment income
 
941

 
1,242

 
1,260

Other income
 
66

 
113

 
98

Interest expense
 
—

 
(12
)
 
—

Corporate expenses
 
(12,641
)
 
(13,272
)
 
(12,277
)
Income from operations before income taxes
 
$
6,189

 
$
7,006

 
$
23,148


(1) During the fourth quarter of 2012, the Company evaluated its operations and determined that an additional segment should be reported, Mineral Resources. Mineral Resources collects royalty income from oil and gas leases, rock and aggregate leases, and from a cement company.

(2) Segment profits are revenues from operations less operating expenses, excluding investment income and expense, corporate expenses, equity in earnings of unconsolidated joint ventures, and income taxes.
Schedule of information pertaining to assets of segments
Information pertaining to assets of the Company’s business segments is as follows for each of the years ended December 31: 
($ in thousands)
 
Identifiable
Assets
 
Depreciation
and
Amortization
 
Capital
Expenditures
2013
 
 
 
 
 
 
Real estate - commercial/industrial
 
$
58,390

 
$
1,205

 
$
12,296

Real estate - resort/residential
 
124,568

 
78

 
2,957

Mineral resources
 
1,063

 
—

 
—

Farming
 
31,925

 
1,465

 
5,733

Corporate
 
126,933

 
1,478

 
572

Total
 
$
342,879

 
$
4,226

 
$
21,558

2012
 
 
 
 
 
 
Real estate - commercial/industrial
 
$
57,151

 
$
1,852

 
$
11,672

Real estate - resort/residential
 
118,627

 
77

 
4,479

Mineral resources
 
1,449

 
—

 
—

Farming
 
29,538

 
1,384

 
3,379

Corporate
 
121,091

 
1,238

 
1,139

Total
 
$
327,856

 
$
4,551

 
$
20,669

2011
 
 
 
 
 
 
Real estate - commercial/industrial
 
$
56,552

 
$
1,111

 
$
4,155

Real estate - resort/residential
 
110,147

 
96

 
7,132

Mineral resources
 
1,193

 
—

 
—

Farming
 
24,326

 
1,293

 
1,477

Corporate
 
129,758

 
1,097

 
885

Total
 
$
321,976

 
$
3,597

 
$
13,649
Real estate - commercial/industrial
  
Segment Reporting Information [Line Items]  
Components of segment revenues
The revenue components of the commercial/industrial real estate segment for the years ended December 31 are as follows:
(In thousands)
2013
 
2012
 
2011
Commercial leases
$
6,799

 
$
6,095

 
$
5,450

Grazing leases
1,433

 
1,331

 
1,087

Land Sale
—

 
648

 
4,340

All other land management ancillary services
2,916

 
1,867

 
2,869

 
11,148

 
9,941

 
13,746

Equity in earnings of unconsolidated joint ventures
4,065

 
2,577

 
919

Revenues and equity in earnings of unconsolidated joint ventures
$
15,213

 
$
12,518

 
$
14,665
Real estate - resort/residential
  
Segment Reporting Information [Line Items]  
Components of segment revenues
The revenue components of the resort/residential real estate land development segment for the year ended December 31 are as follows:
(In thousands)
2013
 
2012
 
2011
Hay sales - Centennial operations
$
928

 
$
583

 
$
380

Management fees
312

 
—

 
4

Conservation easements
—

 
—

 
15,750

Other
26

 
—

 
—

 
1,266

 
583

 
16,134

Equity in earnings of unconsolidated joint ventures
(59
)
 
(42
)
 
(3
)
Revenues and equity in earnings of unconsolidated joint ventures
$
1,207

 
$
541

 
$
16,131
Mineral resources
  
Segment Reporting Information [Line Items]  
Components of segment revenues
The following table summarizes these activities for each of the years ended December 31:
($ in thousands)
 
2013
 
2012
 
2011
Oil and gas
 
$
7,810

 
$
11,075

 
$
9,876

Rock aggregate
 
964

 
920

 
886

Cement
 
819

 
758

 
621

Land lease for oil exploration
 
648

 
1,257

 
811

Other
 
1

 
2

 
12

 
 
$
10,242

 
$
14,012

 
$
12,206