Note 4 - Cost of Construction and Constructed Assets

6 Months Ended

Jun. 30, 2022

Notes to Financial Statements

Cost of Construction and Constructed Assets [Text Block]

4. Cost of Construction and Constructed Assets

The Company’s portfolio as of June 30, 2022 includes the following development projects:

● Sugar Land Regional Airport (“SGR”), Sugar Land, TX (Houston area);

● Miami-Opa Locka Executive Airport (“OPF”), Opa-Locka, FL (Miami area);

● Nashville International Airport ("BNA"), Nashville, TN;

● Centennial Airport (“APA”), Englewood, CO (Denver area);

● Phoenix Deer Valley Airport (“DVT”), Phoenix, AZ; and

● Addison Airport (“ADS”), Addison, TX (Dallas area).

Constructed assets, net, and cost of construction, consists of the following:

	June 30, 2022			December 31, 2021
Constructed assets, net of accumulated depreciation:
Buildings, SGR (Phase I)	$	15,079		$	15,079
Accumulated depreciation		(853	)		(579	)
	$	14,226		$	14,500
Cost of construction:
OPF; BNA; APA; DVT; ADS	$	54,288		$	25,034

Depreciation expense for the three months ended June 30, 2022 and 2021 totaled $139 and $133, respectively. Depreciation expense for the six months ended June 30, 2022 and 2021 totaled $274 and $269, respectively.