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REPORTING SEGMENTS AND RELATED INFORMATION (Tables)
 12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Schedule of Reconciliation of Revenues, Segment Profits (Losses) and Net Income (Loss)
Information pertaining to operating results of the Company's reporting segments are as follows for each of the years ended December 31:
($ in thousands)202320222021
Revenues
Real estate—commercial/industrial$11,758 $40,515 $19,476 
Mineral resources14,524 21,595 20,987 
Farming13,950 13,001 11,039 
Ranch operations4,507 4,106 4,111 
Segment revenues44,739 79,217 55,613 
Equity in unconsolidated joint ventures, net6,868 7,752 9,202 
Investment income2,557 634 57 
Total revenues and other income54,164 87,603 64,872 
Segment Profits (Losses)
Real estate—commercial/industrial3,705 24,159 7,523 
Real estate—resort/residential(1,528)(1,629)(1,723)
Mineral resources5,839 8,626 7,428 
Farming(1,307)(6,810)(3,077)
Ranch operations(536)(918)(568)
Segment profits (1)
6,173 23,428 9,583 
Equity in earnings of unconsolidated joint ventures, net6,868 7,752 9,202 
Investment income2,557 634 57 
Other (expense) income(138)1,088 164 
Corporate expenses(9,872)(9,699)(9,843)
Income from operations before income taxes$5,588 $23,203 $9,163 
(1) Segment profits are revenues less operating expenses, excluding investment income and expense, corporate expenses, equity in earnings of unconsolidated joint ventures, and income taxes.
Schedule of Components of Segment Revenues
The following table summarizes revenues, expenses and operating income from this segment for each of the years ended December 31:
($ in thousands)202320222021
Commercial revenues$11,758 $40,515 $19,476 
Equity in earnings of unconsolidated joint ventures6,868 7,752 9,202 
Commercial revenues and equity in earnings of unconsolidated joint ventures$18,626 $48,267 $28,678 
Commercial expenses8,053 16,356 11,953 
Operating results from commercial and unconsolidated joint ventures$10,573 $31,911 $16,725 
The following table summarizes revenues, expenses and operating results from this segment for each of the years ended December 31:
($ in thousands)202320222021
Mineral resources revenues$14,524 $21,595 $20,987 
Mineral resources expenses8,685 12,969 13,559 
Operating results from mineral resources$5,839 $8,626 $7,428 
The farming segment produces revenues from the sale of wine grapes, almonds, pistachios and hay. The following table summarizes revenues, expenses and operating results from this segment for each of the years ended December 31:
($ in thousands)202320222021
Farming revenues$13,950 $13,001 $11,039 
Farming expenses15,257 19,811 14,116 
Operating results from farming$(1,307)$(6,810)$(3,077)
The following table summarizes revenues, expenses and operating results from this segment for each of the years ended December 31:
($ in thousands)202320222021
Ranch operations revenues$4,507 $4,106 $4,111 
Ranch operations expenses5,043 5,024 4,679 
Operating results from ranch operations$(536)$(918)$(568)
Schedule of Information Pertaining to Assets of Segments
Information pertaining to assets of the Company’s reporting segments is as follows for each of the years ended December 31: 
($ in thousands)Identifiable
Assets		Depreciation and AmortizationCapital
Expenditures
2023
Real estate - commercial/industrial$73,105 $468 $7,815 
Real estate - resort/residential321,216 42 7,888 
Mineral resources52,068 1,374 — 
Farming52,094 2,097 4,870 
Ranch operations2,072 390 464 
Corporate76,968 435 291 
Total$577,523 $4,806 $21,328 
2022
Real estate - commercial/industrial$74,292 $455 $8,933 
Real estate - resort/residential312,956 30 7,253 
Mineral resources48,780 1,366 — 
Farming45,814 1,937 5,915 
Ranch operations1,945 439 305 
Corporate83,004 401 196 
Total$566,791 $4,628 $22,602 
2021
Real estate - commercial/industrial$82,397 $463 $4,906 
Real estate - resort/residential305,818 31 8,064 
Mineral resources52,440 1,368 — 
Farming47,160 1,789 7,416 
Ranch operations2,079 455 306 
Corporate56,142 488 187 
Total$546,036 $4,594 $20,879