Note 13 - Leasing Arrangements

9 Months Ended

Sep. 30, 2022

Notes to Financial Statements

Lessor, Operating Leases [Text Block]

13.         LEASING ARRANGEMENTS

The Company leases land primarily to agriculture operators and space in commercial buildings, primarily to restaurant and retail tenants through 2048. These operating leases generally provide for minimum rents and, in some cases, licensing fees, percentage rentals based on tenant revenues, and reimbursement of common area maintenance and other expenses. Certain leases allow the lessee an option to extend or terminate the agreement. There are no leases allowing a lessee an option to purchase the underlying asset. Total leasing income subject to ASC Topic 842 for the three and nine months ended September 30, 2022 and 2021 were as follows:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	(unaudited)				(unaudited)
	2022		2021		2022		2021
	(in thousands)				(in thousands)
Minimum rentals	$	821	$	753	$	2,461	$	2,225
Percentage rentals		566		547		1,538		1,080
Licensing fees		259		203		757		492
Other		396		373		999		1,248
Total	$	2,042	$	1,876	$	5,755	$	5,045