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Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2012	Aug. 03, 2012
Document and Entity Information [Abstract]
Entity Registrant Name	TEJON RANCH CO
Entity Central Index Key	0000096869
Document Type	10-Q
Document Period End Date	Jun. 30, 2012
Amendment Flag	false
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock Shares Outstanding		20,071,346
Trading Symbol	TRC

Unaudited Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Revenues:
Total revenues	$ 7,849	$ 5,872	$ 17,428	$ 28,518
Costs and Expenses:
Total expenses	8,763	7,679	18,318	16,851
Operating income (loss)	(914)	(1,807)	(890)	11,667
Other Income
Investment income	317	314	635	610
Interest expense	(33)		(35)
Other income	11	33	35	60
Total other income	295	347	635	670
Income (loss) from operations before equity in earnings (losses) of unconsolidated joint ventures	(619)	(1,460)	(255)	12,337
Equity in earnings (losses) of unconsolidated joint ventures, net	893	412	534	(30)
Income (loss) before income tax expense (benefit)	274	(1,048)	279	12,307
Income tax expense (benefit)	164	(392)	(64)	4,268
Net income (loss)	110	(656)	343	8,039
Net income (loss) attributable to non-controlling interest	(8)	(18)	(50)	(59)
Net income (loss) attributable to common stockholders	$ 118	$ (638)	$ 393	$ 8,098
Net income (loss) per share attributable to common stockholders, basic	$ 0.01	$ (0.03)	$ 0.02	$ 0.41
Net income (loss) per share attributable to common stockholders, diluted	$ 0.01	$ (0.03)	$ 0.02	$ 0.41
Real estate - commercial/industrial
Revenues:
Total revenues	$ 6,502	$ 5,106	$ 12,556	$ 9,392
Costs and Expenses:
Total expenses	2,953	3,107	6,095	6,186
Real estate- resort/residential
Revenues:
Total revenues	94	128	135	15,878
Costs and Expenses:
Total expenses	1,137	929	2,155	1,877
Farming
Revenues:
Total revenues	1,253	638	4,737	3,248
Costs and Expenses:
Total expenses	960	847	3,221	3,190
Corporate expenses
Costs and Expenses:
Total expenses	$ 3,713	$ 2,796	$ 6,847	$ 5,598

Unaudited Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Consolidated Statements of Comprehensive Income (Loss) [Abstract]
Net income (loss)	$ 110	$ (656)	$ 343	$ 8,039
Other comprehensive income (loss):
Unrealized gains (losses) on available for sale securities	(68)	337	151	288
Benefit plan adjustments		(187)		(374)
Equity in other comprehensive income of unconsolidated joint venture	64	35	119	89
Other comprehensive income (loss) before taxes	(4)	185	270	3
(Provisions) Benefit for income taxes related to other comprehensive income (loss) items	1	(73)	(108)
Other comprehensive income (loss)	(3)	112	162	3
Comprehensive income (loss)	107	(544)	505	8,042
Comprehensive income (loss) attributable to non-controlling interests	(8)	(18)	(50)	(59)
Comprehensive income (loss) attributable to common stockholders	$ 115	$ (526)	$ 555	$ 8,101

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2012	Dec. 31, 2011
Current Assets:
Cash and cash equivalents	$ 5,749	$ 18,372
Marketable securities - available-for-sale	69,035	68,566
Accounts receivable	3,220	7,832
Inventories	8,012	3,587
Prepaid expenses and other current assets	4,678	4,317
Deferred tax assets	989	1,099
Total current assets	91,683	103,773
Property and equipment - net of depreciation (includes $69,686 attributable to Centennial Founders LLC, Note E)	135,965	128,430
Investments in unconsolidated joint ventures	55,112	53,893
Long-term water assets	28,797	28,336
Long-term deferred tax assets	6,847	6,845
Other assets	1,696	699
TOTAL ASSETS	320,100	321,976
Current Liabilities:
Trade accounts payable	3,495	2,447
Other accrued liabilities	1,595	3,074
Income taxes payable		2,484
Deferred income	1,451	2,125
Current portion of long-term debt	39	37
Total current liabilities	6,580	10,167
Long-term debt, less current portion	232	253
Long-term deferred gains	2,248	2,664
Other liabilities	5,699	5,474
Pension liability	2,719	2,979
Total liabilities	17,478	21,537
Commitments and contingencies
Tejon Ranch Co. Stockholders' Equity
Common stock, $.50 par value per share: Authorized shares - 30,000,000 Issued and outstanding shares - 20,071,346 at June 30, 2012 and 19,975,706 at December 31, 2011	10,036	9,988
Additional paid-in capital	195,903	194,273
Accumulated other comprehensive loss	(4,594)	(4,756)
Retained earnings	61,502	61,109
Total Tejon Ranch Co. Stockholders' Equity	262,847	260,614
Non-controlling interest	39,775	39,825
Total equity	302,622	300,439
TOTAL LIABILITIES AND EQUITY	$ 320,100	$ 321,976

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2012	Dec. 31, 2011
Common stock, par value	$ 0.50	$ 0.50
Common stock, Authorized shares	30,000,000	30,000,000
Common stock, Issued shares	20,071,346	19,975,706
Common stock, outstanding shares	20,071,346	19,975,706
Property and equipment, attributable to Centennial Founders LLC	$ 135,965	$ 128,430
Centennial
Property and equipment, attributable to Centennial Founders LLC	$ 69,686

Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
OPERATING ACTIVITIES
Net income	$ 343	$ 8,039
Adjustments to reconcile net income to net cash provided by (used in) operating activies:
Depreciation and amortization	2,968	1,861
Equity in (gains) losses of unconsolidated joint ventures, net	(534)	30
Non-cash retirement plan expense	200	130
Amortization of stock compensation expense	3,658	2,475
(Gains) losses on sales of real estate/assets	(679)
Gains on sale of easements		(15,750)
Deferred income taxes		(162)
Distribution of earnings from unconsolidated joint ventures	3,000
Changes in operating assets and liabilities:
Receivables, inventories and other assets, net	739	3,762
Current liabilities, net	(4,902)	3,167
NET CASH PROVIDED BY OPERATING ACTIVITIES	4,793	3,552
INVESTING ACTIVITIES
Maturities and sales of marketable securities	9,823	3,875
Funds invested in marketable securities	(10,556)	(19,162)
Property and equipment expenditures	(9,410)	(5,760)
Proceeds from sale of easements		15,750
Investment in unconsolidated joint ventures	(4,579)	(1,389)
Distribution of equity from unconsolidated joint ventures	1,012
Investment in pistachio processor		(485)
Other	(1,540)	(140)
NET CASH USED IN INVESTING ACTIVITIES	(15,250)	(7,311)
FINANCING ACTIVITIES
Borrowings of short-term debt	1,500
Repayments of short-term debt	(1,500)
Repayments of long-term debt	(19)	(19)
Proceeds from exercise of stock options	123	2,310
Taxes on vested stock grants	(2,270)	(812)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	(2,166)	1,479
DECREASE IN CASH AND CASH EQUIVALENTS	(12,623)	(2,280)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	18,372	22,027
CASH AND CASH EQUIVALENTS AT END OF PERIOD	5,749	19,747
SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITY
Accrued capital expenditures included in accounts payable and accrued liabilities	$ 428	$ 95

Unaudited Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings	Total Tejon Ranch Co.'s Stockholders Equity	Noncontrolling Interest
Beginning Balance (in shares) at Dec. 31, 2010		19,747,470
Beginning Balance, Value at Dec. 31, 2010	$ 276,652	$ 9,874	$ 183,816	$ (2,191)	$ 45,215	$ 236,714	$ 39,938
Net income	15,781				15,894	15,894	(113)
Changes in unrealized gains on available-for-sale securities, net of taxes of $60 in 2012 and $33 in 2011	(49)			(49)		(49)
Benefit plan adjustment net of taxes of $1,026	(1,548)			(1,548)		(1,548)
SERP liability adjustment, net of taxes of $727	(1,098)			(1,098)		(1,098)
Equity in other comprehensive income of unconsolidated joint ventures, net of taxes of $87	130			130		130
Equity in other comprehensive income of unconsolidated joint ventures, net of taxes of $48 in 2012 and $87 in 2011 (in shares)		205,165
Exercise of stock options and related tax benefit of $0 in 2012 and $634 in 2011	5,876	$ 103	5,773			5,876
Restricted stock issuance (in shares)		52,069
Restricted stock issuance		$ 26	(26)
Stock compensation	5,507		5,507			5,507
Shares withheld for taxes		28,998
Shares withheld for taxes	812	$ 15	797			812
Ending Balance, Value at Dec. 31, 2011	300,439	$ 9,988	194,273	(4,756)	61,109	260,614	39,825
Ending Balance (in shares) at Dec. 31, 2011		19,975,706
Net income	343				393	393	(50)
Changes in unrealized gains on available-for-sale securities, net of taxes of $60 in 2012 and $33 in 2011	91			91		91
Equity in other comprehensive income of unconsolidated joint ventures, net of taxes of $87	$ 71			71		71
Equity in other comprehensive income of unconsolidated joint ventures, net of taxes of $48 in 2012 and $87 in 2011 (in shares)	5,013	5,013
Exercise of stock options and related tax benefit of $0 in 2012 and $634 in 2011	$ 123	$ 3	120			123
Restricted stock issuance (in shares)		172,032
Restricted stock issuance		$ 86	(86)
Stock compensation	3,825		3,825			3,825
Shares withheld for taxes		(81,405)
Shares withheld for taxes	(2,270)	$ (41)	(2,229)			(2,270)
Ending Balance, Value at Jun. 30, 2012	$ 302,622	$ 10,036	$ 195,903	$ (4,594)	$ 61,502	$ 262,847	$ 39,775
Ending Balance (in shares) at Jun. 30, 2012		20,071,346

Unaudited Consolidated Statements of Equity (Parenthetical) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2012	Dec. 31, 2011
Consolidated Statements of Equity [Abstract]
Changes in unrealized gains on available-for-sale securities, taxes	$ 60	$ 33
Benefit plan adjustment, taxes		1,026
SERP liability adjustment, taxes		727
Equity in other comprehensive income of unconsolidated joint ventures, taxes	48	87
Exercise of stock options, tax benefit	$ 0	$ 634

Basis of Presentation

6 Months Ended

Jun. 30, 2012

Basis of Presentation [Abstract]

BASIS OF PRESENTATION

NOTE A – BASIS OF PRESENTATION

The summarized information of Tejon Ranch Co. and its subsidiaries, (collectively, the “Company”), furnished pursuant to the instructions to Part I of Form 10-Q is unaudited and reflects all adjustments which are, in the opinion of the Company’s management, necessary for a fair statement of the results for the interim period. All such adjustments are of a normal recurring nature.

The periods ending June 30, 2012 and 2011 include the consolidation of Centennial Founders, LLC’s statement of operations within the resort /residential segment and statements of cash flows. The Company’s June 30, 2012 and December 31, 2011 balance sheets and statements of equity are presented on a consolidated basis including the consolidation of Centennial Founders, LLC.

The Company has identified three reportable segments: commercial/industrial real estate development and services, or commercial/industrial real estate, resort/residential real estate development, and farming. Information for the Company’s reported segments is presented in its consolidated statements of operations. The Company’s reporting segments follow the same accounting policies used for the Company’s consolidated financial statements. Management evaluates a segment’s performance based upon a number of factors including pretax results.

The results of the period reported herein are not indicative of the results to be expected for the full year due to the seasonal nature of the Company’s agricultural activities and timing of real estate sales and leasing activities. Historically, the Company’s largest percentages of farming revenues are recognized during the third and fourth quarters of the fiscal year.

For further information and a summary of significant accounting policies, refer to the Consolidated Financial Statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2011.

- Definition

The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.

+ References

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+ Details

Net Income (Loss) Per Share

6 Months Ended

Jun. 30, 2012

Net Income (Loss) Per Share [Abstract]

NET INCOME (LOSS) PER SHARE

NOTE B – NET INCOME (LOSS) PER SHARE

Basic net income or loss per share is based upon the weighted average number of shares of common stock outstanding during the period. Diluted net income per share is based upon the weighted average number of shares of common stock outstanding and the weighted average number of shares outstanding assuming the issuance of common stock upon exercise of stock options and vesting of stock grants per U.S. generally accepted accounting principles, or GAAP.


	Three Months ended				Six Months ended
	June 30				June 30
	2012		2011		2012		2011
Weighted average number of shares outstanding:
Common stock		20,026,354		19,840,116		20,008,358		19,806,034
Common stock equivalents-stock options, grants		61,278		64,628		75,372		48,495

Diluted shares outstanding		20,087,632		19,904,744		20,083,730		19,854,529

For the three months ended June 30, 2011 diluted net loss per share is calculated based on the weighted average number of shares of common stock outstanding and not diluted shares outstanding because of the antidilutive impact of common stock equivalents.

Marketable Securities

6 Months Ended

Jun. 30, 2012

Marketable Securities [Abstract]

MARKETABLE SECURITIES

NOTE C – MARKETABLE SECURITIES

The Company classifies its securities as available-for-sale and therefore is required to adjust securities to fair value at each reporting date. All costs and both realized and unrealized gains and losses on securities are determined on a specific identification basis.

The following is a summary of available-for-sale securities at June 30, 2012 and December 31, 2011:


($ in thousands)			2012				2011
Marketable Securities:	Fair Value Hierarchy		Cost		Estimated Fair Value		Cost		Estimated Fair Value

Certificates of deposit
with unrecognized losses for less than 12 months			$	1,902	$	1,893	$	3,646	$	3,605
with unrecognized losses for more than 12 months				103		103		—		—
with unrecognized gains				4,324		4,360		3,525		3,551

Total Certificates of deposit		Level 1		6,329		6,356		7,171		7,156


US Treasury and agency notes
with unrecognized losses for less than 12 months				6,293		6,236		4,352		4,338
with unrecognized losses for more than 12 months				—		—		1,002		1,000
with unrecognized gains				14,723		14,844		16,479		16,660

Total US Treasury and agency notes		Level 2		21,016		21,080		21,833		21,998


Corporate notes
with unrecognized losses for less than 12 months				4,739		4,707		9,230		9,098
with unrecognized losses for more than 12 months				821		818		1,539		1,494
with unrecognized gains				26,052		26,460		19,369		19,738

Total Corporate notes		Level 2		31,612		31,985		30,138		30,330


Municipal notes
with unrecognized losses for less than 12 months				1,058		1,048		1,177		1,165
with unrecognized losses for more than 12 months				952		944		881		873
with unrecognized gains				7,516		7,622		6,964		7,044

Total Municipal notes		Level 2		9,526		9,614		9,022		9,082

			$	68,483	$	69,035	$	68,164	$	68,566

We evaluate our securities for other-than-temporary impairment based on the specific facts and circumstances surrounding each security valued below its cost. Factors considered include the length of time the securities have been valued below cost, the financial condition of the issuer, industry reports related to the issuer, the severity of any decline, our intention not to sell the security, and our assessment as to whether it is not more likely than not that we will be required to sell the security before a recovery of its amortized cost basis. We then segregate the loss between the amounts representing a decrease in cash flows expected to be collected, or the credit loss, which is recognized through earnings, and the balance of the loss which is recognized through other comprehensive income.

At June 30, 2012, the fair market value of investment securities exceeded the cost basis by $552,000. The cost basis includes any other-than-temporary impairments that have been recorded for the securities. None have been recorded at June 30, 2012. The Company has determined that any unrealized losses in the portfolio are temporary as of June 30, 2012. The Company believes that market factors such as, changes in interest rates, liquidity discounts, and premiums required by market participants rather than an adverse change in cash flows or a fundamental weakness in credit quality of the issuer have led to the temporary declines in value. In the future based on changes in the economy, credit markets, financial condition of issuers, or market interest rates, this could change.

As of June 30, 2012, the adjustment to accumulated other comprehensive income (loss) in consolidated equity for the temporary change in the value of securities reflects an increase in the market value of available-for-sale securities of $91,000, which includes estimated taxes of $60,000.

As of June 30, 2012, the Company’s gross unrealized holding gains equal $672,000 and gross unrealized holding losses equal $120,000. On June 30, 2012, the average maturity of certificates of deposits was 2.77 years, the average maturity of U.S. Treasury and agency securities was 2.31 years, the average maturity of corporate notes was 2.16 years and the average maturity of municipal notes was 2.40 years. Currently, the Company has no securities with a remaining term to maturity of greater than five years.

The following tables summarize the maturities, at par, of marketable securities by year:


(in thousands)
At June 30, 2012	2012		2013		2014		2015		2016		Total
Certificates of deposit	$	200	$	1,255	$	1,627	$	2,739	$	301	$	6,122

U.S. Treasury and agency notes		671		8,785		8,982		2,633		—		21,071

Corporate notes		2,377		11,416		7,097		8,334		1,313		30,537

Municipal notes		710		2,305		4,345		1,760		100		9,220

	$	3,958	$	23,761	$	22,051	$	15,466	$	1,714	$	66,950


(in thousands)
At December 31, 2011	2012		2013		2014		2015		2016		Total
Certificates of deposit	$	1,536	$	1,255	$	1,627	$	2,526	$	—	$	6,944

U.S. Treasury and agency notes		4,734		10,285		5,856		936		—		21,811

Corporate notes		3,450		11,231		8,923		5,584		—		29,188

Municipal notes		860		2,505		4,145		1,160		—		8,670

	$	10,580	$	25,276	$	20,551	$	10,206	$	—	$	66,613

The Company’s investments in corporate notes are with companies that have an investment grade rating from Standard & Poor’s.

Commitments and Contingencies

6 Months Ended

Jun. 30, 2012

Commitments and Contingencies [Abstract]

COMMITMENTS AND CONTINGENCIES

NOTE D – COMMITMENTS AND CONTINGENCIES

A total of 5,488 acres of the Company’s land is subject to water contracts with the Wheeler Ridge Maricopa Water Storage District, or WRMWSD, requiring minimum future annual payments for as long as the Company owns such land. The estimated future minimum annual payments are $2,500,000 before any potential credits are received, whether or not water is available or is used.

The Tejon Ranch Public Facilities Financing Authority, or TRPFFA, is a joint powers authority formed by Kern County and the Tejon-Castac Water District, or TCWD, to finance public infrastructure within the Company’s Kern County developments. TRPFFA has created two Community Facilities Districts, or CFDs, the West CFD and the East CFD. The West CFD has placed liens on 271 acres of the Company’s land to secure payment of special taxes related to $30,000,000 of bond debt sold by TRPFFA for Tejon Ranch Commerce Center, or TRCC-West. The reduction in land liens placed on lands in the West CFD when compared to year-end 2011 is due to a refinancing that occurred during February 2012 that allowed for the release of liens on 1,457 acres. The East CFD has placed liens on 1,931 acres of the Company’s land to secure payments of special taxes related to $12,670,000 of bond debt sold by TRPFFA for TRCC-East. At TRCC-West, the West CFD has no additional bond debt approved for issuance. At TRCC-East, the East CFD has approximately $107,000,000 of additional bond debt authorized by TRPFFA that can be sold in the future.

In connection with the sale of bonds there is a standby letter of credit for $2,189,000 related to the issuance of East CFD bonds. The standby letter of credit is in place to provide additional credit enhancement and cover approximately two years worth of interest on the outstanding bonds. This letter of credit will not be drawn upon unless the Company, as the largest land owner in the CFD, fails to make its property tax payments. The Company believes that the letter of credit will never be drawn upon. The letter of credit is for a two-year period of time and will be renewed in two-year intervals as necessary. The annual cost related to the letter of credit is approximately $33,000.

The Company is obligated, as a landowner in each CFD, to pay its share of the special taxes assessed each year. The secured lands include both the TRCC-West and TRCC-East developments. Proceeds from the sale of West CFD bonds went to reimburse the Company for public infrastructure related to the TRCC West development. At this time there are no additional reimbursement funds remaining from the West CFD bonds or East CFD bonds for reimbursement of cost. During 2011, the Company paid approximately $1,061,000 in special taxes. As development continues to occur at TRCC, new owners of land and new lease tenants, through triple net leases, will bear an increasing portion of the assessed special tax. As this happens, the Company’s obligation is correspondingly reduced. This amount could change in the future based on the amount of bonds outstanding and the amount of taxes paid by others.

Tejon Mountain Village

CBD Suit: On October 5, 2009, the Kern County Board of Supervisors granted entitlement approval for the Tejon Mountain Village Project (“TMV”). On November 10, 2009, a group consisting of the Center for Biological Diversity, Wishtoyo Foundation, Tri-County Watchdogs and the Center on Race, Poverty and the Environment (collectively, “CBD”) filed an action in the Kern County Superior Court under the California Environmental Quality Act, or CEQA, against Kern County and the Kern County Board of Supervisors, or collectively, the County, concerning the County’s granting of approval for TMV, including the certification of the Environmental Impact Report, or EIR, approval of associated Kern County General Plan amendments, adoption of associated Zoning Maps, adoption of Special Plan No. 1, Map 256, exclusion from Agricultural Preserves Nos. 4 and 19, and approval of Vesting Tentative Tract Maps 6720 and 6717, among other associated approvals. TMV and the Company were named as real parties in interest (“Real Parties”) in the action.

The action alleged that the County failed to properly follow the procedures and requirements of CEQA including failure to identify, analyze and mitigate impacts to air quality, biological resources, hydrology and water quality, traffic, cultural resources, hazards, and failure to adequately describe the project and the environmental setting. The action also alleged that the County violated the Planning and Zoning Law and the Kern County General Plan. With these allegations CBD was attempting to get the EIR and approvals from Kern County for TMV overturned.

On November 5, 2010, Kern County Superior Court Judge Kenneth Twisselman ruled in favor of the County and Real Parties when he found that the County had properly analyzed and evaluated the environmental effects of TMV. In his ruling, Judge Twisselman rejected all of the claims made by CBD.

On February 8, 2011, CBD appealed the court’s decision. On April 25, 2012, the California Fifth District Court of Appeal (“Court of Appeal”) panel issued its unanimous 89-page unpublished opinion affirming the trial court’s favorable judgment against CBD in every respect and awarding costs on appeal to the County and Real Parties.

On May 10, 2012, CBD filed a timely petition for rehearing, which the Court of Appeal summarily denied on May 15, 2012. Thereafter, no petition for review by the California Supreme Court was filed and the time for such review has now expired. The Court of Appeal issued its remittitur on June 25, 2012, and the Court of Appeal’s unpublished decision became final and no longer subject to review as of that date.

Robinson Suit: On November 10, 2009, an additional suit was filed in the U.S. District Court for the Eastern District of California (Fresno division) by David Laughing Horse Robinson (“plaintiff”) an alleged representative of the federally-unrecognized “Kawaiisu Tribe” alleging, inter alia, that the Company does not hold legal title to the land within the TMV development that it seeks to develop. The grounds for the federal lawsuit were the subject of a United States Supreme Court decision in 1924 where the United States Supreme Court found against the Indian tribes.

The Company and other defendants filed motions to dismiss plaintiff’s complaint for failure to state a claim and lack of jurisdiction. On January 24, 2011, the Company received a ruling by Judge Wanger dismissing all claims against the Company, TMV, the County and the federal defendants. However, the judge did grant a limited right by the plaintiff to amend certain causes of action in the complaint.

During April, 2011, the plaintiff filed his second amended complaint against the Company, alleging similar items as in the original suit. The plaintiff filed new materials during July, 2011 related to his second amended complaint. Thereafter, the case was reassigned to Magistrate Judge McAuliffe. On January 18, 2012, Judge McAuliffe issued an order dismissing all claims in plaintiff’s second amended complaint for failure to state a cause of action and/or for lack of jurisdiction, but allowing the plaintiff one more opportunity to state certain land claims. The court also indicated that it was considering dismissing the case due to the lack of federal recognition of the “Kawaiisu Tribe”. The court then granted plaintiff an extension until March 19, 2012 to file his third amended complaint.

Plaintiff filed his third amended complaint on March 19, 2012. At the request of the U.S. Department of Justice acting on behalf of the Department of the Interior, defendants (including the Company) were given an extension to April 30, 2012 in which to respond to the third amended complaint. Defendants filed motions to dismiss all claims in the third amended complaint without further leave to amend on April 30, 2012. Plaintiff thereafter substituted in new counsel and with leave of court filed his opposition papers on June 8, 2012. Defendants filed their reply papers on June 22, 2012. The Court heard oral arguments on July 20, 2012 and we are now anticipating that the court will issue its ruling early August 2012. The Company believes that a negative outcome in this case is remote at this time and the monetary impact of an adverse claim, if any, also cannot be estimated at this time.

National Cement

The Company leases land to National Cement Company of California Inc., or National, for the purpose of manufacturing Portland cement from limestone deposits on the leased acreage. The California Regional Water Quality Control Board, or RWQCB, for the Lahontan Region issued several orders in the late 1990s with respect to environmental conditions on the property currently leased to National:

(1)

Groundwater plume of chlorinated hydrocarbon compounds. This order directs the Company’s former tenant Lafarge Corporation, or Lafarge, the current tenant National, and the Company to, among other things, clean up groundwater contamination on the leased property. In 2003, Lafarge and National installed a groundwater pump-and-treat system to clean up the groundwater. The Company is advised that Lafarge and National continue to operate the cleanup system and will continue to do so over the near-term.

(2)

Cement kiln dust. National and Lafarge have consolidated, closed and capped cement kiln dust piles located on land leased from the Company. An order of the RWQCB directs National, Lafarge and the Company to maintain and monitor the effectiveness of the cap. Maintenance of the cap and groundwater monitoring remain as on-going activities.

(3)

Former industrial waste landfills. This order requires Lafarge, National and the Company to complete the cleanup of groundwater associated with the former industrial waste landfills. The Company is advised that the cleanup is complete. Lafarge continues to monitor the groundwater.

(4)

Diesel fuel. An order of the RWQCB directs Lafarge, National and the Company to clean up contamination from a diesel fuel tank and pipeline. The Company is advised that Lafarge and National have substantially completed the groundwater cleanup and that groundwater monitoring remains an on-going activity.

To date, the Company is not aware of any failure by Lafarge or National to comply with the orders or informal requests of the RWQCB. Under current and prior leases, National and Lafarge are obligated to indemnify the Company for costs and liabilities arising directly or indirectly out of their use of the leased premises. The Company believes that all of the matters described above are included within the scope of the National or Lafarge indemnity obligations and that Lafarge and National have sufficient resources to perform any reasonably likely obligations relating to these matters. If they do not and the Company is required to perform the work at its own cost, it is unlikely that the amount of any such expenditure by the Company would be material.

Antelope Valley Groundwater Cases

On November 29, 2004, a conglomerate of public water suppliers filed a cross-complaint in the Los Angeles Superior Court seeking a judicial determination of the rights to groundwater within the Antelope Valley basin, including the groundwater underlying portions of the Company’s land in Los Angeles County. Three phases of a multi-phase trial have been completed. Upon completion of the third phase, the court ruled that the groundwater basin is currently in overdraft and established a current total sustainable yield. The court has encouraged mediation sessions to settle remaining regional issues, such as groundwater pumping allocations and appointment of a regional water master. Several such mediation sessions have occurred, the most recent of which was May 30, 2012. Through these sessions, progress was made toward reaching a settlement on groundwater allocations and counsel for the various parties have since worked to draft a Stipulated Judgment that may serve as a framework for settlement of the cases, although substantial conflicts remain to be resolved. Given the incremental progress toward resolution, the trial judge has scheduled the next phase for trial for February 2013, allowing additional time for mediation and settlement discussions and encouraging further progress in order to avoid future trial costs. It is too early to ascertain whether a settlement agreement will be reached and what effect, if any, this case may have on the Centennial project or the Company’s remaining lands in the Antelope Valley. Because the water supply plan for the Centennial project includes several sources of water in addition to groundwater underlying the Company’s lands, and because the creation of an efficient market for local water rights is frequently an outcome of adjudication proceedings, we anticipate that sufficient water to supply the Company’s needs will continue to be available for its use regardless of the outcome of this case.

State Water Resources Control Board Lawsuit

On May 12, 2010, the California Attorney General, on behalf of the State Water Resources Control Board, filed a complaint in the Alameda County Superior Court for civil penalties and a permanent injunction against a number of TravelCenters of America LLC, or TA, facilities in the Central Valley of California. The travel centers in the Petro Travel Plaza Holdings LLC, or TA/Petro, were also included in the complaint. The lawsuit alleges violations of various reporting, operating and monitoring regulations related to operation and maintenance of underground storage tanks. In addition to the TA/Petro entity and its respective member entities, the lawsuit also names the Company and Tejon Industrial Corporation as defendants. The Company has tendered defense of the lawsuit to TA, under the “defend and indemnify” clause in the TA/Petro LLC’s operating agreement, and has also secured the services of an outside law firm to work with TA’s outside counsel under a joint defense agreement. On September 16, 2011, the Company and Tejon Industrial Corp. were dismissed from the law suit, without prejudice. The parties remaining are currently engaged in the discovery process and have had very preliminary discussions regarding a possible negotiated resolution. At this point, however, the Company has an insufficient basis to address the merits or potential outcomes of the lawsuit. The monetary value of a potential adverse outcome on the claim likewise cannot be estimated at this time.

Water Bank Lawsuits

On June 3, 2010, the Central Delta and South Delta Water Agencies and several environmental groups, including CBD, filed a complaint in the Sacramento County Superior Court against the California Department of Water Resources (DWR), Kern County Water Agency and a number of “real parties in interest,” including the Company and TCWD. The lawsuit challenges certain amendments to the State Water Project contracts that were originally approved in 1995, known as the “Monterey Amendments.” The original EIR for the Monterey Amendments was determined to be insufficient in an earlier lawsuit, and the current lawsuit challenges the remedial EIR that DWR prepared as a result of the original lawsuit. Among other allegations, the current lawsuit also challenges the transfer of the Kern Water Bank, or KWB, from DWR to Kern County Water Agency and in turn to the Kern Water Bank Authority (KWBA), whose members are various Kern and Kings County interests, including TCWD, which TCWD has a 2% interest in the KWBA. A parallel lawsuit was also filed against Kern County Water Agency, also naming the Company and TCWD as real parties in interest, which has been stayed pending the outcome of the other action against DWR. The Company is named on the ground that it “controls” TCWD. TCWD has a contract right for water stored in the KWB and rights to recharge and withdraw water. Counsel for the Company is pursuing a dismissal of the Company from these lawsuits. Given the preliminary nature of these lawsuits, the Company has an insufficient basis to address the merits or potential outcomes of the lawsuit. The monetary value of a potential adverse outcome on the claim likewise cannot be estimated at this time.

- Definition

The entire disclosure for commitments and contingencies.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6449706&loc=d3e16207-108621

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-SubTopic 10
-Section 50
-Paragraph 8
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6394976&loc=d3e25287-109308

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 14
-Paragraph 3
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 9, 10, 11, 12
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Investment in Unconsolidated and Consolidated Joint Ventures

6 Months Ended

Jun. 30, 2012

Investment in Unconsolidated and Consolidated Joint Ventures [Abstract]

INVESTMENT IN UNCONSOLIDATED AND CONSOLIDATED JOINT VENTURES

NOTE E – INVESTMENT IN UNCONSOLIDATED AND CONSOLIDATED JOINT VENTURES

The Company maintains investments in joint ventures. The Company accounts for its investments in unconsolidated joint ventures using the equity method of accounting unless the venture is a variable interest entity, or VIE, and meets the requirements for consolidation. The Company’s investment in its unconsolidated joint ventures at June 30, 2012 was $55,112,000. The equity in the income of the unconsolidated joint ventures was $893,000 and $534,000 for the three and six months ended June 30, 2012. The unconsolidated joint ventures have not been consolidated as of June 30, 2012, because the Company does not control the investments. The Company’s current joint ventures are as follows:

•

Petro Travel Plaza Holdings LLC – TA/Petro is an unconsolidated joint venture with TravelCenters of America, LLC for the development and management of travel plazas and convenience stores. This is a 60%-owned joint venture which owns and operates travel plazas/commercial highway operations in TRCC. It houses multiple commercial eating establishments as well as diesel and gasoline operations. The Company does not control the investment due to its having only 50% voting rights, and because our partner in the joint venture performs the day-to-day operations at the facility. At June 30, 2012, the Company had an equity investment balance of $9,768,000 in this joint venture.

•

Tejon Mountain Village LLC – Tejon Mountain Village LLC, or TMV LLC, is an unconsolidated joint venture between the Company and DMB TMV LLC (a wholly owned subsidiary of DMB Associates, Inc.) formed to obtain all necessary government entitlement approvals and to develop the Tejon Mountain Village project. The Company owns a 50% interest in this venture. At June 30, 2012, the Company’s equity investment balance in this joint venture was $38,974,000.

•

Rockefeller Joint Ventures – The Company has two joint ventures with Rockefeller Group Development Corporation for the development of buildings on approximately 91 acres. These joint ventures are part of an agreement for the development of up to 500 acres of land in TRCC including pursuing Foreign Trade Zone, or FTZ, designation and development of the property within the FTZ for warehouse distribution and light manufacturing. The Company owns a 50% interest in each of the joint ventures. Currently the Five West Parcel LLC joint venture owns and leases a 606,000 square foot building. The second of these joint ventures, 18-19 West LLC, was formed in August 2009 through the contribution of 61.5 acres of land by the Company, which is being held for future development. At June 30, 2012, the Company’s combined equity investment balance in these two joint ventures was $6,370,000.

•

Centennial Founders, LLC – Centennial Founders, LLC is a joint venture with Pardee Homes, Lewis Investment Company, and Standard Pacific Corp. that was organized to pursue the entitlement and development of land that the Company owns in Los Angeles County. Based on the Second Amended and Restated Limited Company Agreement of Centennial Founders, LLC and the change in control and funding that resulted from the amended agreement, Centennial Founders, LLC qualified as a variable interest entity, beginning in the third quarter of 2009 and the Company was determined to be the primary beneficiary. As a result, Centennial Founders, LLC has been consolidated into our financial statements beginning in that quarter. Our partners retained a noncontrolling interest in the joint venture. At June 30, 2012 the Company had a 69.44% ownership position in Centennial Founders, LLC.

Unaudited condensed balance sheet information of the Company’s unconsolidated and consolidated joint ventures as of June 30, 2012 and December 31, 2011 and condensed statements of operations for the six months ended June 30, 2012 and June 30, 2011 are as follows:

Statement of Operations

for the six months ending June 30, 2012

(In thousands)


	UNCONSOLIDATED														CONSOLIDATED
	Petro Travel Plaza Holdings			18-19 West LLC		Five West Parcel			Tejon Mountain Village			Total			Centennial
Gross revenues	$	59,001		$	53	$	975		$	—		$	60,029		$	135

Net income (loss)	$	1,540		$	46	$	(282	)	$	(47	)	$	1,257		$	(160	)

Partner’s share of net income (loss)	$	616		$	23	$	(141	)	$	(24	)	$	474		$	(50	)

Equity in income (losses)	$	675		$	23	$	(141	)	$	(23	)	$	534		$	(110	)


Balance Sheet Information as of June 30, 2012
Current assets	$	13,704		$	63	$	804		$	456		$	15,027		$	301
Property and equipment, net		44,273			4,365		19,791			89,764			158,193			68,686
Other assets		264			—		307			—			571			—
Long-term debt		(17,725	)		—		(11,000	)		—			(28,725	)		—
Other liabilities		(3,578	)		—		(80	)		(492	)		(4,150	)		(944	)


Net assets	$	36,938		$	4,428	$	9,822		$	89,728		$	140,916		$	69,043

Statement of Operations

for the six months ending June 30, 2011

(In thousands)


	UNCONSOLIDATED															CONSOLIDATED
	Petro Travel Plaza Holdings			18-19 West LLC			Five West Parcel			Tejon Mountain Village			Total			Centennial
Gross revenues	$	54,709		$	—		$	228		$	127		$	55,064		$	127

Net income (loss)	$	611		$	(56	)	$	(702	)	$	(32	)	$	(179	)	$	(168	)

Partner’s share of net income (loss)	$	246		$	(28	)	$	(351	)	$	(16	)	$	(149	)	$	(60	)

Equity in income (losses)	$	365		$	(28	)	$	(351	)	$	(16	)	$	(30	)	$	(108	)


Balance Sheet Information as of December 31, 2011
Current assets	$	16,940		$	12		$	116		$	1,020		$	18,088		$	325
Property and equipment, net		44,092			4,255			16,509			85,127			149,983			67,684
Other assets		307			—			37			—			344			—
Long-term debt		(18,076	)		—			(8,625	)		—			(26,701	)		—
Other liabilities		(2,648	)		—			(201	)		(1,122	)		(3,971	)		(1,106	)


Net assets	$	40,615		$	4,267		$	7,836		$	85,025		$	137,743		$	66,903

The Company’s investment balance in its unconsolidated joint ventures differs from its capital accounts in the respective joint ventures. The differential represents the difference between the cost basis of assets contributed by the Company and the agreed-upon contribution value of the assets contributed.

- Definition

The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group.

+ References + Details

Long Term Water Assets

6 Months Ended

Jun. 30, 2012

Long Term Water Assets [Abstract]

LONG TERM WATER ASSETS

NOTE F – LONG TERM WATER ASSETS

Long term assets consist of water and water contracts held for future use or sale. 8,700 acre feet of water are currently held in a water bank on Company land in southern Kern County. The water is held at cost which includes the price paid for the water and the cost to pump and deliver the water from the California aqueduct into the water bank. Banked water costs also include costs related to the right to receive an additional 2,362 acre feet of water in the future from Antelope Valley East Kern Water Agency, or AVEK and we have approximately 10,534 acre feet of water in AVEK’s water bank. An additional 14,786 acre-feet of transferable water purchased for $8,985,000 is owned by the Company. The Company holds State Water Project, or SWP, contracts for 3,444 acre feet of water with the Tulare Water Storage District and the Dudley-Ridge Water Storage District to supply water through 2035. These contracts are being amortized using the straight line method over that period. Annual amortization for the next five years will be $708,000 per year. Water contracts with the WRMWSD and the Tejon-Castac Water District are also in place, but were entered into with each District at inception of the contract and not purchased later from third parties, and do not have a related financial value on the books of the Company. Therefore there is no amortization expense related to these contracts. Water assets consist of the following at June 30, 2012 and December 31, 2011:


($ in thousands)	June 30, 2012			December 31, 2011
Banked water and water for future delivery	$	4,364		$	3,546
Transferable water		8,988			8,988
SWP Contracts (net of accumulated amortization of $1,673 and $1,317 at June 30, 2012 and December 2011, respectively)		16,153			16,510


Total long-term assets		29,505			29,044

less: Current portion		(708	)		(708	)
	$	28,797		$	28,336

Short-Term and Long-Term Debt

6 Months Ended

Jun. 30, 2012

Short-Term and Long-Term Debt [Abstract]

SHORT-TERM AND LONG-TERM DEBT

NOTE G – SHORT-TERM AND LONG-TERM DEBT

The Company had no outstanding balance on its line of credit at June 30, 2012 and December 31, 2011.

Long-term debt consists of the following:


($ in thousands)
	June 30, 2012			December 31, 2011
Note payable to a bank	$	271		$	290
Less current portion		(39	)		(37	)

	$	232		$	253

We have a long-term revolving line of credit of $30,000,000 that, as of June 30, 2012, had no outstanding balance. At the Company’s option, the interest rate on this line of credit can float at 2.50% over a selected LIBOR rate or can be fixed at 2.25% above LIBOR for a fixed rate term. During the term of this credit facility (which matures in October 2013), we can borrow at any time and partially or wholly repay any outstanding borrowings and then re-borrow, as necessary. Under the terms of the line of credit, we must maintain tangible net worth, defined as total equity, including noncontrolling interest, plus debt less intangible assets, of not less than $175,000,000 and liquid assets of not less than $25,000,000. At June 30, 2012 our tangible net worth was $302,893,000 and liquid assets were $74,784,000. A portion of our farm acreage secures this line of credit. The outstanding long-term debt, less current portion of $39,000, is $232,000 at June 30, 2012. This debt is being used to provide long-term financing for a building being leased to Starbucks and the debt is secured by the leased building and land. The balance of the long-term debt instrument listed above approximates the fair value of the instrument.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References + Details

Interest Rate Risk Management

6 Months Ended

Jun. 30, 2012

Interest Rate Risk Management [Abstract]

INTEREST RATE RISK MANAGEMENT

NOTE H – INTEREST RATE RISK MANAGEMENT

At June 30, 2012, the Company had no outstanding interest rate swap agreements. However, a joint venture of the Company, TA/Petro, has an interest rate swap agreement with respect to $18,419,000 of its long-term debt to manage interest rate risk by converting floating interest rate debt to fixed-rate debt. This swap agreement matures in August 2012 and is a contract to exchange variable-rate for fixed-rate interest payments periodically over the life of the agreement. The interest rate swap fixed rate is 6.05%. TA/Petro accounts for the swap as a cash flow hedge with changes in the fair value of the swap recorded in other comprehensive income. The Company accounts for its share of the change in the interest rate swap in other comprehensive income and investments in unconsolidated joint ventures. As of June 30, 2012, the Company’s portion of the fair value of the interest rate swap was a liability of $33,000.

- Definition

The entire disclosure for the entity's entire derivative instruments and hedging activities. Describes an entity's risk management strategies, derivatives in hedging activities and non-hedging derivative instruments, the assets, obligations, liabilities, revenues and expenses arising therefrom, and the amounts of and methodologies and assumptions used in determining the amounts of such items.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
-Section 45
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
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-Paragraph 1
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-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 21: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 45
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 22: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
-Number 133
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+ Details

Stock Compensation - Options

6 Months Ended

Jun. 30, 2012

Stock Compensation - Options [Abstract]

STOCK COMPENSATION - OPTIONS

NOTE I – STOCK COMPENSATION – OPTIONS

The Company’s 1998 Stock Incentive Plan, or the 1998 Plan, provides for the making of awards to employees, consultants, and advisors of the Company with respect to 2,350,000 shares of the Company’s common stock. Since the adoption of the 1998 Plan through June 30, 2012, the Company has granted options under the plan to purchase 1,129,292 shares at a price equal to the fair market value at date of grant, of which 1,077,792 have been exercised or forfeited, leaving 51,500 granted options outstanding at June 30, 2012. Options granted under the 1998 Plan vest over a five-year period and have ten-year contractual terms. All options granted under the 1998 Plan to date are currently vested.

The Non-Employee Director Stock Incentive Plan, or NDSI Plan, is intended to enable the Company to attract, retain, and motivate non-employee directors by providing for or increasing the proprietary interest of such persons in the Company. The NDSI Plan provides for the grant of awards to non-employee directors with respect to an aggregate of 200,000 shares of the Company’s common stock. Since the adoption of the NDSI Plan through June 30, 2012, the Company has granted options under the plan to purchase 83,518 shares at a price equal to the fair market value at date of grant, of which 75,951 options have been exercised or forfeited, leaving 7,567 granted options outstanding at June 30, 2012. Options granted under the NDSI Plan vest one year from the date of grant and have ten year contractual terms. All outstanding options granted under the NDSI plan are currently vested.

There were no options granted in 2012 or 2011 under either the 1998 Plan or the NDSI Plan.

Exercise prices for options outstanding under the 1998 Plan and NDSI Plan as of June 30, 2012 ranged from $27.66 to $27.90. The weighted-average remaining contractual life of those options is approximately eight months. None of the options granted under the 1998 Plan or NDSI Plan contain conversion features.

The following is a summary of the Company’s stock option activity and related information for the six month period ended June 30, 2012:


	Options			Weighted-Average Exercise Prices Per Share
Outstanding beginning of period		66,693		$	27.32
Granted		—			—
Exercised		(5,013	)		24.49
Forfeited/Cancelled		(2,613	)		24.49

Outstanding end of period		59,067		$	27.69

Options exercisable end of period		59,067		$	27.69

As of June 30, 2012, there was no unrecognized compensation cost related to stock options. No shares vested during the three months ended June 30, 2012, therefore, the fair value of shares vesting was zero. The total intrinsic value of options exercised during the six months ended June 30, 2012 and 2011 were $3,000 and $1,585,000, respectively. As of June 30, 2012, there were 59,067 options vested and exercisable with a weighted-average exercise price of $27.69 and an aggregate intrinsic value of $55,000.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Section 50
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 14

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 123R
-Paragraph 64, 65, A240
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 93-6
-Paragraph 53
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Stock Compensation - Restricted Stock and Performance Share Grants

6 Months Ended

Jun. 30, 2012

Stock Compensation - Restricted Stock and Performance Share Grants [Abstract]

STOCK COMPENSATION - RESTRICTED STOCK AND PERFORMANCE SHARE GRANTS

NOTE J – STOCK COMPENSATION – RESTRICTED STOCK AND PERFORMANCE SHARE GRANTS

The Company’s stock incentive plans provide for the making of awards to employees based upon time-based criteria or through the achievement of performance-related objectives. The Company has issued three types of stock grant awards under these plans: restricted stock with time-based vesting, performance share grants that only vest upon the achievement of specified performance conditions, and performance share grants that include threshold, target, and maximum achievement levels based on the achievement of specific performance milestones. The Company has issued 167,561 shares of restricted stock that vest over three and four-year periods of time and of this amount 132,814 shares have vested. The Company also has granted performance units with stock awards ranging from zero shares if below threshold performance conditions to 95,227 for threshold performance, 614,158 shares for target performance, and 906,044 for maximum performance. These awards are tied to corporate cash flow goals and the achievement of specified milestone development activities.

During the second quarter of 2012, the Company achieved the second performance milestone for the Tejon Mountain Village project, which was to successfully defend its environmental impact report in the courts and achieve litigation free entitlement. Please Note D - Commitments and Contingencies for a detailed status of the TMV CBD lawsuit. This achievement resulted in an acceleration of stock compensation expense during the second quarter of 2012 related to the TMV litigation free performance milestone. Additionally, the achievement of this milestone has moved up the likelihood of reaching the third performance milestone sooner. As such, the cost for this final TMV performance milestone has been accelerated.

The following is a summary of the Company’s stock grant activity assuming target achievement for outstanding performance grants for the following periods:


	June 30 2012			December 31 2011
Stock Grants Outstanding Beginning of the Year at Target		744,508			782,087
New Stock Grants/Additional shares maximum achievement		73,729			64,679
Vested Grants		(167,608	)		(36,980	)
Expired/Forfeited Grants		—			(65,278	)

Stock Grants Outstanding June 30, 2012 at Target		650,629			744,508

The fair value of restricted stock with time-based vesting features is based upon the Company’s share price on the date of grant and is expensed over the service period. Fair value of performance grants that cliff vest based on the achievement of performance conditions is based on the share price of the Company’s stock on the day of grant once the Company determines that it is probable that the award will vest. This fair value is expensed over the service period applicable to these grants. For performance grants that contain a range of shares from zero to maximum we determine, based on historic and projected results, the probability of (1) achieving the performance objective, and (2) the level of achievement. Based on this information, we determine the fair value of the award and measure the expense over the service period related to these grants. Because the ultimate vesting of all performance grants is tied to the achievement of a performance condition, we estimate whether the performance condition will be met and over what period of time. Ultimately, we adjust compensation cost according to the actual outcome of the performance condition.

For the six months ending June 30, 2012 there was total employee stock compensation of $3,642,000 with $3,475,000 being expensed and $167,000 being capitalized to projects. For the six months ending June 30, 2011 we recognized $2,313,000 in expense.

Under the NDSI Plan, each non-employee director receives his or her annual compensation in stock. Under this plan, 72,875 shares of stock have been granted since the plan was adopted in 2004. During 2012, 5,982 shares have been granted. Total expenses relating to non- employee director stock compensation during the six months ended June 30, 2012 and 2011 was $183,000 and $162,000, respectively.

Retirement Plan

6 Months Ended

Jun. 30, 2012

Retirement Plan [Abstract]

RETIREMENT PLAN

NOTE K – RETIREMENT PLAN

The Company has a defined benefit plan that covers many of its employees. The benefits are based on years of service and the employee’s five-year final average salary. Contributions are intended to provide for benefits attributable to service both to date and expected to be provided in the future. The Company funds the plan in accordance with the Employee Retirement Income Security Act of 1974 (ERISA) and the Pension Protection Act. The Company anticipates contributing approximately $750,000 to the plan during 2012.

Plan assets consist of equity, debt and short-term money market investment funds. The plan’s current investment policy targets 65% equities, 25% debt and 10% money market funds. Equity and debt investment percentages are allowed to fluctuate plus or minus 20% around the respective targets to take advantage of market conditions. As an example, equities can fluctuate from 78% to 52% of plan assets. At June 30, 2012, the investment mix was approximately 68% equity, 27% debt, and 5% money market funds. At December 31, 2011, the investment mix was approximately 66% equity, 29% debt and 5% money market funds. Equity investments consist of a combination of individual equity securities plus value funds, growth funds, large cap funds and international stock funds. Debt investments consist of U.S. Treasury securities and investment grade corporate debt. The weighted-average discount rate and rate of increase in future compensation levels used in determining the periodic pension cost is 4.4% in 2012 and 2011. The expected long-term rate of return on plan assets is 7.5% in 2012 and 2011. The long-term rate of return on plan assets is based on the historical returns within the plan and expectations for future returns.

The expected total pension and retirement expense was as follows for the six months ended June 30, 2012 and 2011:


(In thousands)	2012			2011
Cost components:
Service cost-benefits earned during the period	$	(126	)	$	(120	)
Interest cost on projected benefit obligation		(192	)		(158	)
Expected return on plan assets		222			172
Net amortization and deferral		(210	)		(94	)

Total net periodic pension cost	$	(306	)	$	(200	)

- Definition

The entire disclosure for pension and other postretirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-URI http://asc.fasb.org/topic&trid=2235017

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Implementation Guide (Q and A)
-Number FAS88
-Paragraph 63
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
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Reference 12: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
-Number 158
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 13: http://www.xbrl.org/2003/role/presentationRef
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-Name FASB Staff Position (FSP)
-Number FAS106-2
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 14: http://www.xbrl.org/2003/role/presentationRef
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Income Taxes

6 Months Ended

Jun. 30, 2012

Income Taxes [Abstract]

INCOME TAXES

NOTE L – INCOME TAXES

For the six months ended June 30, 2012, the Company incurred income tax benefits of $64,000 compared to a net income tax expense of $4,268,000 for the six months ended June 30, 2011. These represent effective income tax rates of approximately (20%) and 35% for the six months ended June 30, 2012 and, 2011, respectively. The effective tax rate is calculated based on forecasted net income for 2012 adjusted for estimated permanent tax differences such as depletion allowances. During 2012, depletion allowances have increased due to higher oil and gas revenues and are the primary driver of the increase in permanent tax differences that is creating the current period tax benefit. As of June 30, 2012, our balance sheet reflects an income tax receivable of $408,000.

The Company classifies interest and penalties incurred on tax payments as income tax expenses. During the first six months ended June 30, 2012, the Company made income tax payments of $3,401,000 related to the 2011 tax year and received $580,000 in tax refunds.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h))
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-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 136, 172
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 43, 44, 45, 46, 47, 48, 49
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Segment Reporting

6 Months Ended

Jun. 30, 2012

Segment Reporting [Abstract]

SEGMENT REPORTING

NOTE M – SEGMENT REPORTING

The revenue components of our commercial/industrial real estate segment for the six months ending June 30 are as follows:


(In thousands)	2012		2011

Commercial leases	$	2,918	$	2,616
Oil and Gas revenue		7,183		4,084
Mineral revenue		642		561
Grazing leases		587		564
Land Sale		648		—
All other land management ancillary services		578		1,567

	$	12,556	$	9,392

Commercial lease revenue consists of land and building leases to tenants at our commercial retail and industrial developments, base and percentage rents from our Calpine power plant lease, communication tower rents, and payments from easement leases. Oil and mineral royalties are received from the exploration and development companies who extract or mine the natural resources from our land. Land management ancillary services include wildlife management, landscape and property maintenance, and building management services. During the first six months of 2012, the Company’s game management operations were temporarily suspended in order to complete the development of a new sales program and operating procedures. Please refer to Form 8-K filed on January 20, 2012 regarding the Company’s game management and hunting operations. It is expected that the game management operations will be fully functional beginning September 1, 2012.

Resort/residential land development segment produces revenues from farming activities within the Centennial Founders, LLC and is actively involved in the land entitlement and pre-development process. The farming segment produces revenues from the sale of wine grapes, almonds and pistachios.

During the first quarter of 2011, the Company completed the sale of five conservation easements totaling approximately 62,000 acres for $15,750,000. These easements were sold to the Tejon Ranch Conservancy, an independent non-profit organization set up as a part of the 2008 Conservation and Land Use Agreement by the conservation groups that signed the agreement. Funds for the purchase were provided by a grant from the California Wildlife Conservation Board. The Company will retain fee ownership of the 62,000 acres and continue to operate current revenue generating activities farming, cattle grazing, filming, oil and gas and other mineral exploration and production on portions of the acreage. The conservation easements will preclude the Company from pursuing any long term development on the 62,000 acres.

- 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://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599

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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Publisher FASB
-Name Accounting Standards Codification
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Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 131
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Net Income (Loss) Per Share (Tables)

6 Months Ended

Jun. 30, 2012

Net Income (Loss) Per Share [Abstract]

Summaries of weighted average number of shares outstanding


	Three Months ended				Six Months ended
	June 30				June 30
	2012		2011		2012		2011
Weighted average number of shares outstanding:
Common stock		20,026,354		19,840,116		20,008,358		19,806,034
Common stock equivalents-stock options, grants		61,278		64,628		75,372		48,495

Diluted shares outstanding		20,087,632		19,904,744		20,083,730		19,854,529

Marketable Securities (Tables)

6 Months Ended

Jun. 30, 2012

Marketable Securities [Abstract]

Summary of available-for-sale securities

The following is a summary of available-for-sale securities at June 30, 2012 and December 31, 2011:


($ in thousands)			2012				2011
Marketable Securities:	Fair Value Hierarchy		Cost		Estimated Fair Value		Cost		Estimated Fair Value

Certificates of deposit
with unrecognized losses for less than 12 months			$	1,902	$	1,893	$	3,646	$	3,605
with unrecognized losses for more than 12 months				103		103		—		—
with unrecognized gains				4,324		4,360		3,525		3,551

Total Certificates of deposit		Level 1		6,329		6,356		7,171		7,156


US Treasury and agency notes
with unrecognized losses for less than 12 months				6,293		6,236		4,352		4,338
with unrecognized losses for more than 12 months				—		—		1,002		1,000
with unrecognized gains				14,723		14,844		16,479		16,660

Total US Treasury and agency notes		Level 2		21,016		21,080		21,833		21,998


Corporate notes
with unrecognized losses for less than 12 months				4,739		4,707		9,230		9,098
with unrecognized losses for more than 12 months				821		818		1,539		1,494
with unrecognized gains				26,052		26,460		19,369		19,738

Total Corporate notes		Level 2		31,612		31,985		30,138		30,330


Municipal notes
with unrecognized losses for less than 12 months				1,058		1,048		1,177		1,165
with unrecognized losses for more than 12 months				952		944		881		873
with unrecognized gains				7,516		7,622		6,964		7,044

Total Municipal notes		Level 2		9,526		9,614		9,022		9,082

			$	68,483	$	69,035	$	68,164	$	68,566

Summary of maturities, at par, of marketable securities

The following tables summarize the maturities, at par, of marketable securities by year:


(in thousands)
At June 30, 2012	2012		2013		2014		2015		2016		Total
Certificates of deposit	$	200	$	1,255	$	1,627	$	2,739	$	301	$	6,122

U.S. Treasury and agency notes		671		8,785		8,982		2,633		—		21,071

Corporate notes		2,377		11,416		7,097		8,334		1,313		30,537

Municipal notes		710		2,305		4,345		1,760		100		9,220

	$	3,958	$	23,761	$	22,051	$	15,466	$	1,714	$	66,950


(in thousands)
At December 31, 2011	2012		2013		2014		2015		2016		Total
Certificates of deposit	$	1,536	$	1,255	$	1,627	$	2,526	$	—	$	6,944

U.S. Treasury and agency notes		4,734		10,285		5,856		936		—		21,811

Corporate notes		3,450		11,231		8,923		5,584		—		29,188

Municipal notes		860		2,505		4,145		1,160		—		8,670

	$	10,580	$	25,276	$	20,551	$	10,206	$	—	$	66,613

Investment in Unconsolidated and Consolidated Joint Ventures (Tables)

6 Months Ended

Jun. 30, 2012

Investment in Unconsolidated and Consolidated Joint Ventures [Abstract]

Condensed balance sheet information and statements of operations of unconsolidated and consolidated joint ventures

Statement of Operations

for the six months ending June 30, 2012

(In thousands)


	UNCONSOLIDATED														CONSOLIDATED
	Petro Travel Plaza Holdings			18-19 West LLC		Five West Parcel			Tejon Mountain Village			Total			Centennial
Gross revenues	$	59,001		$	53	$	975		$	—		$	60,029		$	135

Net income (loss)	$	1,540		$	46	$	(282	)	$	(47	)	$	1,257		$	(160	)

Partner’s share of net income (loss)	$	616		$	23	$	(141	)	$	(24	)	$	474		$	(50	)

Equity in income (losses)	$	675		$	23	$	(141	)	$	(23	)	$	534		$	(110	)


Balance Sheet Information as of June 30, 2012
Current assets	$	13,704		$	63	$	804		$	456		$	15,027		$	301
Property and equipment, net		44,273			4,365		19,791			89,764			158,193			68,686
Other assets		264			—		307			—			571			—
Long-term debt		(17,725	)		—		(11,000	)		—			(28,725	)		—
Other liabilities		(3,578	)		—		(80	)		(492	)		(4,150	)		(944	)


Net assets	$	36,938		$	4,428	$	9,822		$	89,728		$	140,916		$	69,043

Statement of Operations

for the six months ending June 30, 2011

(In thousands)


	UNCONSOLIDATED															CONSOLIDATED
	Petro Travel Plaza Holdings			18-19 West LLC			Five West Parcel			Tejon Mountain Village			Total			Centennial
Gross revenues	$	54,709		$	—		$	228		$	127		$	55,064		$	127

Net income (loss)	$	611		$	(56	)	$	(702	)	$	(32	)	$	(179	)	$	(168	)

Partner’s share of net income (loss)	$	246		$	(28	)	$	(351	)	$	(16	)	$	(149	)	$	(60	)

Equity in income (losses)	$	365		$	(28	)	$	(351	)	$	(16	)	$	(30	)	$	(108	)


Balance Sheet Information as of December 31, 2011
Current assets	$	16,940		$	12		$	116		$	1,020		$	18,088		$	325
Property and equipment, net		44,092			4,255			16,509			85,127			149,983			67,684
Other assets		307			—			37			—			344			—
Long-term debt		(18,076	)		—			(8,625	)		—			(26,701	)		—
Other liabilities		(2,648	)		—			(201	)		(1,122	)		(3,971	)		(1,106	)


Net assets	$	40,615		$	4,267		$	7,836		$	85,025		$	137,743		$	66,903

Long Term Water Assets (Tables)

6 Months Ended

Jun. 30, 2012

Long Term Water Assets [Abstract]

Components of water assets

Water assets consist of the following at June 30, 2012 and December 31, 2011:


($ in thousands)	June 30, 2012			December 31, 2011
Banked water and water for future delivery	$	4,364		$	3,546
Transferable water		8,988			8,988
SWP Contracts (net of accumulated amortization of $1,673 and $1,317 at June 30, 2012 and December 2011, respectively)		16,153			16,510


Total long-term assets		29,505			29,044

less: Current portion		(708	)		(708	)
	$	28,797		$	28,336

Short-Term and Long-Term Debt (Tables)

6 Months Ended

Jun. 30, 2012

Short-Term and Long-Term Debt [Abstract]

Components of Long-term debt

Long-term debt consists of the following:


($ in thousands)
	June 30, 2012			December 31, 2011
Note payable to a bank	$	271		$	290
Less current portion		(39	)		(37	)

	$	232		$	253

Stock Compensation - Options (Tables)

6 Months Ended

Jun. 30, 2012

Stock Compensation - Options [Abstract]

Summary of stock option activity

The following is a summary of the Company’s stock option activity and related information for the six month period ended June 30, 2012:


	Options			Weighted-Average Exercise Prices Per Share
Outstanding beginning of period		66,693		$	27.32
Granted		—			—
Exercised		(5,013	)		24.49
Forfeited/Cancelled		(2,613	)		24.49

Outstanding end of period		59,067		$	27.69

Options exercisable end of period		59,067		$	27.69

Stock Compensation - Restricted Stock and Performance Share Grants (Tables)

6 Months Ended

Jun. 30, 2012

Stock Compensation - Restricted Stock and Performance Share Grants [Abstract]

Summary of stock grant activity

The following is a summary of the Company’s stock grant activity assuming target achievement for outstanding performance grants for the following periods:


	June 30 2012			December 31 2011
Stock Grants Outstanding Beginning of the Year at Target		744,508			782,087
New Stock Grants/Additional shares maximum achievement		73,729			64,679
Vested Grants		(167,608	)		(36,980	)
Expired/Forfeited Grants		—			(65,278	)

Stock Grants Outstanding June 30, 2012 at Target		650,629			744,508

Retirement Plan (Tables)

6 Months Ended

Jun. 30, 2012

Retirement Plan [Abstract]

Expected total pension and retirement expense

The expected total pension and retirement expense was as follows for the six months ended June 30, 2012 and 2011:


(In thousands)	2012			2011
Cost components:
Service cost-benefits earned during the period	$	(126	)	$	(120	)
Interest cost on projected benefit obligation		(192	)		(158	)
Expected return on plan assets		222			172
Net amortization and deferral		(210	)		(94	)

Total net periodic pension cost	$	(306	)	$	(200	)

Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2012

Segment Reporting [Abstract]

Revenue components of commercial/industrial real estate segment

The revenue components of our commercial/industrial real estate segment for the six months ending June 30 are as follows:


(In thousands)	2012		2011

Commercial leases	$	2,918	$	2,616
Oil and Gas revenue		7,183		4,084
Mineral revenue		642		561
Grazing leases		587		564
Land Sale		648		—
All other land management ancillary services		578		1,567

	$	12,556	$	9,392

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References + Details

Basis of Presentation (Details)	6 Months Ended
Basis of Presentation (Details)	Jun. 30, 2012 Segment
Basis of Presentation (Textual) [Abstract]
Number of reportable segments	3

Net Income (Loss) Per Share (Details) - shares	3 Months Ended		6 Months Ended
Net Income (Loss) Per Share (Details) - shares	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Weighted average number of shares outstanding:
Common stock	20,026,354	19,840,116	20,008,358	19,806,034
Common stock equivalents - stock options, grants	61,278	64,628	75,372	48,495
Diluted shares outstanding	20,087,632	19,904,744	20,083,730	19,854,529

- Definition

The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.

+ References + Details

- Definition

Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1448-109256

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Weighted-Average Number of Common Shares Outstanding
-URI http://asc.fasb.org/extlink&oid=6528421

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 07-4
-Paragraph 4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 8
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 171
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 40
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Marketable Securities (Details) - USD ($) $ in Thousands	Jun. 30, 2012	Dec. 31, 2011
Summary of available-for-sale securities
Available-for-sale securities, Cost	$ 68,483	$ 68,164
Available-for-sale securities, Estimated Fair Value	69,035	68,566
Level 1 [Member] \| Certificates of deposit [Member]
Summary of available-for-sale securities
Unrecognized losses for less than 12 months, Cost	1,902	3,646
Unrecognized losses for less than 12 months, Estimated Fair value	1,893	3,605
Unrecognized losses for more than 12 months, Cost	103
Unrecognized losses for more than 12 months, Estimated Fair value	103
Unrecognized gains, Cost	4,324	3,525
Unrecognized gains, Estimated Fair value	4,360	3,551
Available-for-sale securities, Cost	6,329	7,171
Available-for-sale securities, Estimated Fair Value	6,356	7,156
Level 2 [Member] \| U.S. Treasury and agency notes [Member]
Summary of available-for-sale securities
Unrecognized losses for less than 12 months, Cost	6,293	4,352
Unrecognized losses for less than 12 months, Estimated Fair value	6,236	4,338
Unrecognized losses for more than 12 months, Cost		1,002
Unrecognized losses for more than 12 months, Estimated Fair value		1,000
Unrecognized gains, Cost	14,723	16,479
Unrecognized gains, Estimated Fair value	14,844	16,660
Available-for-sale securities, Cost	21,016	21,833
Available-for-sale securities, Estimated Fair Value	21,080	21,998
Level 2 [Member] \| Corporate notes [Member]
Summary of available-for-sale securities
Unrecognized losses for less than 12 months, Cost	4,739	9,230
Unrecognized losses for less than 12 months, Estimated Fair value	4,707	9,098
Unrecognized losses for more than 12 months, Cost	821	1,539
Unrecognized losses for more than 12 months, Estimated Fair value	818	1,494
Unrecognized gains, Cost	26,052	19,369
Unrecognized gains, Estimated Fair value	26,460	19,738
Available-for-sale securities, Cost	31,612	30,138
Available-for-sale securities, Estimated Fair Value	31,985	30,330
Level 2 [Member] \| Municipal notes [Member]
Summary of available-for-sale securities
Unrecognized losses for less than 12 months, Cost	1,058	1,177
Unrecognized losses for less than 12 months, Estimated Fair value	1,048	1,165
Unrecognized losses for more than 12 months, Cost	952	881
Unrecognized losses for more than 12 months, Estimated Fair value	944	873
Unrecognized gains, Cost	7,516	6,964
Unrecognized gains, Estimated Fair value	7,622	7,044
Available-for-sale securities, Cost	9,526	9,022
Available-for-sale securities, Estimated Fair Value	$ 9,614	$ 9,082

Marketable Securities (Details 1) - USD ($) $ in Thousands	Jun. 30, 2012	Dec. 31, 2011
Summary of maturities, at par, of marketable securities
2012	$ 3,958	$ 10,580
2013	23,761	25,276
2014	22,051	20,551
2015	15,466	10,206
2016	1,714
Total	66,950	66,613
Certificates of deposit [Member]
Summary of maturities, at par, of marketable securities
2012	200	1,536
2013	1,255	1,255
2014	1,627	1,627
2015	2,739	2,526
2016	301
Total	6,122	6,944
U.S. Treasury and agency notes [Member]
Summary of maturities, at par, of marketable securities
2012	671	4,734
2013	8,785	10,285
2014	8,982	5,856
2015	2,633	936
2016
Total	21,071	21,811
Corporate notes [Member]
Summary of maturities, at par, of marketable securities
2012	2,377	3,450
2013	11,416	11,231
2014	7,097	8,923
2015	8,334	5,584
2016	1,313
Total	30,537	29,188
Municipal notes [Member]
Summary of maturities, at par, of marketable securities
2012	710	860
2013	2,305	2,505
2014	4,345	4,145
2015	1,760	1,160
2016	100
Total	$ 9,220	$ 8,670

Marketable Securities (Details Textual) - USD ($)	6 Months Ended	12 Months Ended
Marketable Securities (Details Textual) - USD ($)	Jun. 30, 2012	Dec. 31, 2011
Marketable Securities (Textual) [Abstract]
Fair market value of investment securities exceeds cost basis	$ 552,000
Other-than-temporary impairments recorded for securities	0
Change in value of available-for-sale securities	91,000	$ (49,000)
Estimated taxes of change in value of available-for-sale securities	60,000	$ 33,000
Gross unrealized holding gains	672,000
Gross unrealized holding losses	120,000
Available-for-sale securities with remaining maturity term of greater than five years	$ 0
Certificates of deposit [Member]
Marketable Securities (Additional Textual) [Abstract]
Average maturity period	2 years 9 months 7 days
U.S. Treasury and agency notes [Member]
Marketable Securities (Additional Textual) [Abstract]
Average maturity period	2 years 3 months 22 days
Corporate notes [Member]
Marketable Securities (Additional Textual) [Abstract]
Average maturity period	2 years 1 month 28 days
Municipal notes [Member]
Marketable Securities (Additional Textual) [Abstract]
Average maturity period	2 years 4 months 24 days

Commitments and Contingencies (Details)	6 Months Ended	12 Months Ended
Commitments and Contingencies (Details)	Jun. 30, 2012 USD ($) a	Dec. 31, 2011 USD ($)	Feb. 29, 2012 a	Jun. 03, 2010
Commitments and Contingencies (Textual) [Abstract]
Acres of land related to land liens \| a			1,457
Commitments and Contingencies (Additional Textual) [Abstract]
Acres of land subject to water contracts \| a	5,488
Estimated future minimum annual payments	$ 2,500,000
Letter of credit period	2 years
Letter of credit renewal period	2 years
Additional reimbursement funds	$ 0
Special taxes paid		$ 1,061,000
Interest rate held by TCWD in KWBA				2.00%
Standby letter of credit [Member]
Commitments and Contingencies (Textual) [Abstract]
Bond debt sold by TRPFFA	2,189,000
Letter of credit [Member]
Commitments and Contingencies (Textual) [Abstract]
Annual cost related to letter of credit	$ 33,000
West CFD [Member]
Commitments and Contingencies (Textual) [Abstract]
Acres of land related to land liens \| a	271
Bond debt sold by TRPFFA	$ 30,000,000
Additional bond debt authorized to be sold in future	$ 0
East CFD [Member]
Commitments and Contingencies (Textual) [Abstract]
Acres of land related to land liens \| a	1,931
Bond debt sold by TRPFFA	$ 12,670,000
Additional bond debt authorized to be sold in future	$ 107,000,000

Investment in Unconsolidated and Consolidated Joint Ventures (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011	Dec. 31, 2011
Condensed balance sheet information and statements of operations of unconsolidated and consolidated joint ventures
Gross revenues			$ 60,029	$ 55,064
Net income (loss)	$ 118	$ (638)	393	8,098
Partner's share of net (income)			474	(149)
Equity in income (losses)			534	(30)
Current assets	91,683		91,683		$ 103,773
Property and equipment, attributable to Centennial Founders LLC	135,965		135,965		128,430
Other assets	571		571		344
Long-term debt	(28,725)		(28,725)		(26,701)
Other liabilities	(4,150)		(4,150)		(3,971)
Net assets	140,916		140,916		137,743
Petro Travel Plaza Holdings [Member]
Condensed balance sheet information and statements of operations of unconsolidated and consolidated joint ventures
Gross revenues			59,001	54,709
Net income (loss)			1,540	611
Partner's share of net (income)			616	246
Equity in income (losses)			675	365
Current assets	13,704		13,704		16,940
Property and equipment, attributable to Centennial Founders LLC	44,273		44,273		44,092
Other assets	264		264		307
Long-term debt	(17,725)		(17,725)		(18,076)
Other liabilities	(3,578)		(3,578)		(2,648)
Net assets	36,938		36,938		40,615
18-19 West LLC [Member]
Condensed balance sheet information and statements of operations of unconsolidated and consolidated joint ventures
Gross revenues			53
Net income (loss)			46	(56)
Partner's share of net (income)			23	(28)
Equity in income (losses)			23	(28)
Current assets	63		63		12
Property and equipment, attributable to Centennial Founders LLC	4,365		4,365		4,255
Net assets	4,428		4,428		4,267
Five West Parcel [Member]
Condensed balance sheet information and statements of operations of unconsolidated and consolidated joint ventures
Gross revenues			975	228
Net income (loss)			(282)	(702)
Partner's share of net (income)			(141)	(351)
Equity in income (losses)			(141)	(351)
Current assets	804		804		116
Property and equipment, attributable to Centennial Founders LLC	19,791		19,791		16,509
Other assets	307		307		37
Long-term debt	(11,000)		(11,000)		(8,625)
Other liabilities	(80)		(80)		(201)
Net assets	9,822		9,822		7,836
Tejon Mountain Village [Member]
Condensed balance sheet information and statements of operations of unconsolidated and consolidated joint ventures
Gross revenues				127
Net income (loss)			(47)	(32)
Partner's share of net (income)			(24)	(16)
Equity in income (losses)			(23)	(16)
Current assets	456		456		1,020
Property and equipment, attributable to Centennial Founders LLC	89,764		89,764		85,127
Other liabilities	(492)		(492)		(1,122)
Net assets	89,728		89,728		85,025
Centennial Founders, LLC [Member]
Condensed balance sheet information and statements of operations of unconsolidated and consolidated joint ventures
Gross revenues			135	127
Net income (loss)			(160)	(168)
Partner's share of net (income)			(50)	(60)
Equity in income (losses)			(110)	$ (108)
Current assets	301		301		325
Property and equipment, attributable to Centennial Founders LLC	68,686		68,686		67,684
Other liabilities	(944)		(944)		(1,106)
Net assets	$ 69,043		$ 69,043		$ 66,903

Investment in Unconsolidated and Consolidated Joint Ventures (Details Textual)	3 Months Ended		6 Months Ended
	Jun. 30, 2012 USD ($) a	Jun. 30, 2011 USD ($)	Jun. 30, 2012 USD ($) ft² a Investment	Jun. 30, 2011 USD ($)
Investment in Unconsolidated and Consolidated Joint Ventures (Textual) [Abstract]
Investment in joint ventures	$ 55,112,000		$ 55,112,000
Investment in Unconsolidated and Consolidated Joint Ventures (Additional Textual) [Abstract]
Equity in earnings (losses) of unconsolidated joint ventures, net	$ 893,000	$ 412,000	$ 534,000	$ (30,000)
Petro Travel Plaza Holdings LLC [Member]
Investment in Unconsolidated and Consolidated Joint Ventures (Textual) [Abstract]
Percentage of ownership interest joint ventures	60.00%		60.00%
Investment in joint ventures	$ 9,768,000		$ 9,768,000
Minority investment in joint ventures	50.00%		50.00%
Tejon Mountain Village LLC [Member]
Investment in Unconsolidated and Consolidated Joint Ventures (Textual) [Abstract]
Percentage of ownership interest joint ventures	50.00%		50.00%
Investment in joint ventures	$ 38,974,000		$ 38,974,000
Rockefeller Joint Ventures [Member]
Investment in Unconsolidated and Consolidated Joint Ventures (Textual) [Abstract]
Investment in joint ventures	$ 6,370,000		$ 6,370,000
Number of joint venture contracts \| Investment			2
Joint venture agreement for development of buildings \| a			91
Development of land in TRCC including pursuing Foreign Trade Zone \| a	500		500
Five West Parcel LLC [Member]
Investment in Unconsolidated and Consolidated Joint Ventures (Textual) [Abstract]
Percentage of ownership interest joint ventures	50.00%		50.00%
Area of building owned and leased \| ft²			606,000
18-19 West LLC [Member]
Investment in Unconsolidated and Consolidated Joint Ventures (Textual) [Abstract]
Percentage of ownership interest joint ventures	50.00%		50.00%
Contribution of land held for future development \| a			61.5
Centennial Founders, LLC [Member]
Investment in Unconsolidated and Consolidated Joint Ventures (Textual) [Abstract]
Percentage of ownership interest joint ventures	69.44%		69.44%

Long Term Water Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2012	Dec. 31, 2011
Components of water assets
Total long-term assets	$ 29,505	$ 29,044
less: Current portion	(708)	(708)
Long-lived assets held-for-sale	28,797	28,336
Banked water and water for future delivery [Member]
Components of water assets
Total long-term assets	4,364	3,546
Transferable water [Member]
Components of water assets
Total long-term assets	8,988	8,988
SWP Contracts [Member]
Components of water assets
Total long-term assets	$ 16,153	$ 16,510

Long Term Water Assets (Details Textual)	6 Months Ended
Long Term Water Assets (Details Textual)	Jun. 30, 2012 USD ($) a	Dec. 31, 2011 USD ($)
Long Term Water Assets (Textual) [Abstract]
Long term assets held for sale, in acre feet \| a	10,534
Transferable water [Member]
Long Term Water Assets (Textual) [Abstract]
Long term assets held for sale, additional area in acre feet \| a	14,786
SWP Contracts [Member]
Long Term Water Assets (Textual) [Abstract]
Long term assets held for sale, in acre feet \| a	3,444
Annual amortization (Year1)	$ 708,000
Annual amortization (Year2)	708,000
Annual amortization (Year3)	708,000
Annual amortization (Year4)	708,000
Annual amortization (Year5)	708,000
Accumulated amortization	$ 1,673,000	$ 1,317,000
Kern County [Member]
Long Term Water Assets (Textual) [Abstract]
Long term assets held for sale, in acre feet \| a	8,700
Antelope Valley East Kern Water Agency [Member]
Long Term Water Assets (Textual) [Abstract]
Long term assets held for sale additional purchase	$ 8,985,000
Long term assets held for sale, additional area in acre feet \| a	2,362
Wheeler Ridge Maricopa Water Storage District and Tejon-Castac Water District [Member]
Long Term Water Assets (Textual) [Abstract]
Amortization expense	$ 0

Short-Term and Long-Term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2012	Dec. 31, 2011
Components of Long-term debt
Long-term debt	$ 28,725	$ 26,701
Less current portion	(39)	(37)
Long-term debt, noncurrent	232	253
Note payable to a bank [Member]
Components of Long-term debt
Long-term debt	$ 271	$ 290

Short-Term and Long-Term Debt (Details Textual) - USD ($)	6 Months Ended
	Jun. 30, 2012	Dec. 31, 2011	Dec. 31, 2010
Short-Term and Long-Term Debt (Textual) [Abstract]
Tangible net worth	$ 302,622,000	$ 300,439,000	$ 276,652,000
Liquid assets	91,683,000	103,773,000
Outstanding long-term debt	28,725,000	26,701,000
Current portion	39,000	37,000
Revolving line of credit [Member]
Short-Term and Long-Term Debt (Textual) [Abstract]
Line of credit amount	30,000,000
Line of credit outstanding balance	$ 0	$ 0
Fixing interest rate on line of credit	Interest rate on this line of credit can be fixed at 2.50% over a selected LIBOR rate or can be fixed at 2.25% above LIBOR for a fixed rate term.
Credit facility maturity term	October 2013
Tangible net worth	$ 302,893,000
Liquid assets	74,784,000
Outstanding long-term debt	232,000
Current portion	39,000
Book value of debt secured by leased building and land	232,000
Revolving line of credit [Member] \| Minimum [Member]
Short-Term and Long-Term Debt (Textual) [Abstract]
Tangible net worth	175,000,000
Liquid assets	$ 25,000,000

Interest Rate Risk Management (Details) - USD ($)	6 Months Ended
Interest Rate Risk Management (Details) - USD ($)	Jun. 30, 2012	Dec. 31, 2011
Interest Rate Risk Management (Textual) [Abstract]
Long-term debt	$ 28,725,000	$ 26,701,000
Fair value of derivative liability	33,000
Interest rate swap agreements [Member]
Interest Rate Risk Management (Textual) [Abstract]
Derivative outstanding	0
Long-term debt	$ 18,419,000
Derivative maturity	August 2012
Fixed rate of derivative	6.05%

Stock Compensation - Options (Details)	6 Months Ended
Stock Compensation - Options (Details)	Jun. 30, 2012 $ / shares shares
Summary of stock option activity
Outstanding beginning of period, Options \| shares	66,693
Granted, Options \| shares
Granted, Weighted-Average Exercise Prices Per Share \| $ / shares
Exercised, Options \| shares	(5,013)
Forfeited/Cancelled, Options \| shares	(2,613)
Outstanding end of period, Options \| shares	59,067
Options exercisable end of period, Options \| shares	59,067
Outstanding beginning of period, Weighted-Average Exercise Prices Per Share \| $ / shares	$ 27.32
Exercised, Weighted-Average Exercise Prices Per Share \| $ / shares	24.49
Forfeited/Cancelled, Weighted-Average Exercise Prices Per Share \| $ / shares	24.49
Outstanding end of period, Weighted-Average Exercise Prices Per Share \| $ / shares	27.69
Options exercisable end of period, Weighted-Average Exercise Prices Per Share \| $ / shares	$ 27.69

Stock Compensation - Options (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2012	Jun. 30, 2011
Stock Compensation - Options (Textual) [Abstract]
Options under Stock Incentive Plan
Stock Compensation - Options (Additional Textual) [Abstract]
Unrecognized compensation cost	$ 0	$ 0
Options vested	0	0
Fair value of options vested	$ 0
Intrinsic value of options exercised		$ 3,000	$ 1,585,000
Options vested and exercisable	59,067	59,067
Exercisable with a weighted-average exercise price	$ 27.69	$ 27.69
Aggregate intrinsic value	$ 55,000	$ 55,000
Maximum [Member]
Stock Compensation - Options (Textual) [Abstract]
Exercise prices for options outstanding	$ 27.90	$ 27.90
Minimum [Member]
Stock Compensation - Options (Textual) [Abstract]
Exercise prices for options outstanding	$ 27.66	$ 27.66
1998 Plan [Member]
Stock Compensation - Options (Textual) [Abstract]
Common stock under Stock Incentive Plan	2,350,000	2,350,000
Granted options under Stock Incentive Plan		1,129,292
Options exercised or forfeited		1,077,792
Granted options outstanding		51,500
Vesting period of options granted		5 years
Vesting period of options contractual terms		10 years
Options under Stock Incentive Plan		0
NDSI Plan [Member]
Stock Compensation - Options (Textual) [Abstract]
Common stock under Stock Incentive Plan	200,000	200,000
Granted options under Stock Incentive Plan		83,518
Options exercised or forfeited		75,951
Granted options outstanding		7,567
Vesting period of options granted		1 year
Vesting period of options contractual terms		10 years
Options under Stock Incentive Plan		0
Exercise prices for options, remaining contractual life		8 months

Stock Compensation - Restricted Stock and Performance Share Grants (Details) - Stock Grants [Member] - shares	6 Months Ended	12 Months Ended
	Jun. 30, 2012	Dec. 31, 2011
Summary of stock grant activity
Stock Grants Outstanding Beginning of the Year - Target	744,508	782,087
New Stock Grants/Additional shares maximum achievement	73,729	64,679
Vested Grants	(167,608)	(36,980)
Expired/Forfeited Grants		(65,278)
Stock Grants Outstanding End of Year - Target	650,629	744,508

Stock Compensation - Restricted Stock and Performance Share Grants (Details Textual) $ in Thousands	6 Months Ended
	Jun. 30, 2012 USD ($) Award shares	Jun. 30, 2011 USD ($)
Stock Compensation - Restricted Stock and Performance Share Grants (Textual) [Abstract]
Number of types of stock awards \| Award	3
Restricted Stock [Member]
Stock Compensation - Restricted Stock and Performance Share Grants (Textual) [Abstract]
Equity instrument other than options, issued	167,561
Equity instrument other than options, vested	132,814
Expenses relating to non-employee director stock compensation \| $	$ 3,642,000
Employee stock compensation expensed \| $	3,475,000	$ 2,313,000
Employee stock compensation expense capitalized to projects \| $	$ 167,000
Restricted Stock [Member] \| Maximum [Member]
Stock Compensation - Restricted Stock and Performance Share Grants (Textual) [Abstract]
Vesting period of equity instrument other than options	4 years
Restricted Stock [Member] \| Minimum [Member]
Stock Compensation - Restricted Stock and Performance Share Grants (Textual) [Abstract]
Vesting period of equity instrument other than options	3 years
Performance Shares [Member] \| Maximum [Member]
Stock Compensation - Restricted Stock and Performance Share Grants (Textual) [Abstract]
Equity instrument other than options granted with stock awards range	614,158
Equity instrument other than options granted with stock awards threshold performance	906,044
Performance Shares [Member] \| Minimum [Member]
Stock Compensation - Restricted Stock and Performance Share Grants (Textual) [Abstract]
Equity instrument other than options granted with stock awards range	0
Equity instrument other than options granted with stock awards threshold performance	95,227
NDSI Plan [Member]
Stock Compensation - Restricted Stock and Performance Share Grants (Textual) [Abstract]
Vesting period of equity instrument other than options	1 year
Common stock under Stock Incentive Plan	200,000
Granted shares under stock incentive plan	83,518
NDSI Plan [Member] \| Restricted Stock [Member]
Stock Compensation - Restricted Stock and Performance Share Grants (Textual) [Abstract]
Common stock under Stock Incentive Plan	72,875
Granted shares under stock incentive plan	5,982
Expenses relating to non-employee director stock compensation \| $	$ 183,000	$ 162,000

Retirement Plan (Details) - USD ($) $ in Thousands	6 Months Ended
Retirement Plan (Details) - USD ($) $ in Thousands	Jun. 30, 2012	Jun. 30, 2011
Cost components:
Service cost-benefits earned during the period	$ (126)	$ (120)
Interest cost on projected benefit obligation	(192)	(158)
Expected return on plan assets	222	172
Net amortization and deferral	(210)	(94)
Total net periodic pension cost	$ (306)	$ (200)

- Definition

An amount calculated as a basis for determining the extent of delayed recognition of the effects of changes in the fair value of assets. The expected return on plan assets is determined based on the expected long-term rate of return on plan assets and the market-related value of plan assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 30
-Glossary Expected Return on Plan Assets
-URI http://asc.fasb.org/extlink&oid=6512136

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 60
-Glossary Expected Return on Plan Assets
-URI http://asc.fasb.org/extlink&oid=6512171

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (h)(3)
-URI http://asc.fasb.org/extlink&oid=21915506&loc=d3e1928-114920

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 87
-Paragraph 264
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
-Subparagraph h
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 106
-Paragraph 518
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

- Definition

The increase in a defined benefit pension plan's projected benefit obligation or a defined benefit postretirement plan's accumulated postretirement benefit obligation due to the passage of time.

+ References + Details

- Definition

The actuarial present value of benefits attributed by the pension benefit formula to services rendered by employees during the period. The portion of the expected postretirement benefit obligation attributed to employee service during the period. The service cost component is a portion of the benefit obligation and is unaffected by the funded status of the plan.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Service Cost (Component of Net Periodic Pension Cost)
-URI http://asc.fasb.org/extlink&oid=6525008

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (h)(1)
-URI http://asc.fasb.org/extlink&oid=21915506&loc=d3e1928-114920

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (a)(1)
-URI http://asc.fasb.org/extlink&oid=21915506&loc=d3e1928-114920

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 87
-Paragraph 264
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
-Subparagraph a, h
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 106
-Paragraph 518
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Retirement Plan (Details Textual) - USD ($)	6 Months Ended	12 Months Ended
Retirement Plan (Details Textual) - USD ($)	Jun. 30, 2012	Dec. 31, 2011
Retirement Plan (Additional Textual) [Abstract]
Equity and debt investment fluctuations by plus or minus	20.00%
Contribution to ERISA plan	$ 750,000
Weighted-average discount rate and rate of increase in periodic pension costs	4.40%	4.40%
Expected long-term rate of return on plan assets	7.50%	7.50%
Equities [Member]
Retirement Plan (Textual) [Abstract]
Current investment policy target	65.00%
Investment mix target allocation	68.00%	66.00%
Debt [Member]
Retirement Plan (Textual) [Abstract]
Current investment policy target	25.00%
Investment mix target allocation	27.00%	29.00%
Money market funds [Member]
Retirement Plan (Textual) [Abstract]
Current investment policy target	10.00%
Investment mix target allocation	5.00%	5.00%

Income Taxes (Details) - USD ($)	6 Months Ended
Income Taxes (Details) - USD ($)	Jun. 30, 2012	Jun. 30, 2011
Income Taxes (Textual) [Abstract]
Income Tax Expense (Benefit)	$ (64,000)	$ 4,268,000
Effective income tax rate	(20.00%)	35.00%
Income tax receivable	$ 408,000
Income tax payments related to 2011 tax year	3,401,000
Income tax receivable related to two thousand eleven tax year	$ 580,000

- Definition

The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to pretax Income or Loss from continuing operations; income tax expense or benefit may include interest and penalties on tax uncertainties based on the entity's accounting policy.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-Subparagraph (a),(b)
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 45
-Paragraph 25
-URI http://asc.fasb.org/extlink&oid=21917399&loc=d3e32247-109318

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32672-109319

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 45, 46
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 48
-Paragraph 15, 16, 19
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Segment Reporting (Details) - USD ($) $ in Thousands	6 Months Ended
Segment Reporting (Details) - USD ($) $ in Thousands	Jun. 30, 2012	Jun. 30, 2011
Revenue components of commercial/industrial real estate segment
Revenue of commercial/industrial real estate segment	$ 12,556	$ 9,392
Commercial leases [Member]
Revenue components of commercial/industrial real estate segment
Revenue of commercial/industrial real estate segment	2,918	2,616
Oil and Gas [Member]
Revenue components of commercial/industrial real estate segment
Revenue of commercial/industrial real estate segment	7,183	4,084
Mineral revenue [Member]
Revenue components of commercial/industrial real estate segment
Revenue of commercial/industrial real estate segment	642	561
Grazing leases [Member]
Revenue components of commercial/industrial real estate segment
Revenue of commercial/industrial real estate segment	587	564
Land Sale [Member]
Revenue components of commercial/industrial real estate segment
Revenue of commercial/industrial real estate segment	648
All other land management ancillary services [Member]
Revenue components of commercial/industrial real estate segment
Revenue of commercial/industrial real estate segment	$ 578	$ 1,567

Segment Reporting (Details Textual)	3 Months Ended
Segment Reporting (Details Textual)	Mar. 31, 2011 USD ($) a Easement
Segment Reporting (Textual) [Abstract]
Number of conservation easements sold \| Easement	5
Number of conservation easements acres sold \| a	62,000
Proceeds from sale of conservation easements \| $	$ 15,750,000