Thanks Ryan!
I unlinked the Equipment and Component tables, and kept the link between the Component and TML tables.
I set the table link between the Component and TML table like this
"Component.field > TML.field". That made the Component table the primary table and the TML table the lookup table.
I then made the link a "Right Outer Join". By doing this, the report returns every record in the TML table including records where the Component ID field is empty.
I guess you can use either join method, right or left, it just depends on which table is the primary table and which is the lookup table.
I appreciate the help.