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.

Commercial lease revenue consists of land and building leases to tenants at our commercial retail and industrial developments, base and percentage rents from our Pastoria Energy Facility power plant lease, communication tower rents, and payments from easement leases.

The revenue components of the commercial/industrial real estate development segment were as follows:



	Three Months Ended September 30,				Nine Months Ended September 30,
($ in thousands)	2017		2016		2017		2016
Pastoria Energy Facility Lease	$	1,054	$	967	$	2,779	$	2,698
Tejon Ranch Commerce Center	700		503		2,287		1,509
Commercial leases	309		378		901		1,182
Communication leases	229		205		603		595
Landscaping and other	140		168		536		550
Land sale	—		—		—		—
Commercial/industrial revenues	2,432		2,221		7,106		6,534
Equity in earnings from unconsolidated joint ventures	1,724		2,353		3,512		5,650
Total commercial/industrial revenues and equity in earnings from unconsolidated joint ventures	4,156		4,574		10,618		12,184
Net operating income from commercial/industrial and unconsolidated joint ventures	$	2,841	$	2,827	$	5,658	$	7,044

The resort/residential real estate development segment is actively involved in the land entitlement and development process internally and through a joint venture. The segment incurs costs and expenses related to its development activities, but currently generates no revenue. The segment produced losses of $1,401,000 and $1,252,000 for the nine months ended September 30, 2017 and 2016, respectively. The segment produced losses of $271,000 and $323,000 for the quarters ended September 30, 2017 and 2016, respectively.

The mineral resources segment receives oil and mineral royalties in addition to periodic reimbursable costs from lessors. The segment also, as opportunities arise periodically, may generate revenues through water transactions. The revenue components of the mineral resources segment were as follows:



	Three Months Ended September 30,				Nine Months Ended September 30,
($ in thousands)	2017		2016		2017		2016
Oil and gas	$	356	$	394	$	1,161	$	1,163
Water sales	—		—		1,254		9,601
Rock aggregate	262		306		690		813
Cement	398		367		1,195		996
Land lease for oil exploration	51		25		76		151
Reimbursable costs	75		33		286		328
Total mineral resources revenues	1,142		1,125		4,662		13,052
Net operating income from mineral resources	$	614	$	458	$	2,281	$	5,892

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 September 30,					Nine Months Ended September 30,
($ in thousands)	2017			2016		2017			2016
Almonds	$	1,778		$	1,310	$	2,568		$	2,654
Pistachios	3,104			5,745		3,672			6,003
Wine grapes	2,161			1,961		2,161			1,961
Hay and other	423			303		997			424
Total farming revenues	7,466			9,319		9,398			11,042
Net operating income (loss) from farming	$	(455	)	$	1,538	$	(1,104	)	$	405

Ranch operations consists of game management, ranch and property maintenance, and ancillary land uses such as grazing leases and filming. Within game management, we offer a wide variety of guided big game hunts including trophy Rocky Mountain elk, deer, turkey and wild pig. The revenue components of the ranch operations segment were as follows:



	Three Months Ended September 30,						Nine Months Ended September 30,
($ in thousands)	2017			2016			2017			2016
Game management	$	277		$	258		$	918		$	1,110
Grazing	474			(8		)	1,292			765
Filming and other	117			164			599			378
Total ranch operations revenues	868			414			2,809			2,253
Net operating loss from ranch operations	$	(285	)	$	(960	)	$	(1,298	)	$	(2,010	)