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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues:        
Lease revenue $ 3,447 $ 3,730 $ 7,045 $ 7,215
Mining lands lease revenue 2,402 2,633 4,587 4,862
Total revenues 5,849 6,363 11,632 12,077
Cost of operations:        
Depreciation, depletion and amortization 1,500 1,472 2,968 2,959
Operating expenses 781 910 1,706 1,792
Property taxes 646 713 1,383 1,466
Management company indirect 692 610 1,364 1,202
Corporate expenses 1,026 551 2,213 1,196
Total cost of operations 4,645 4,256 9,634 8,615
Total operating profit 1,204 2,107 1,998 3,462
Net investment income, including realized gains of $134, $328, $242 and $447 2,110 1,984 4,101 3,794
Interest expense (45) (272) (96) (860)
Equity in loss of joint ventures (1,343) (272) (1,985) (536)
Gain on real estate 3,589 536 3,597 536
Income from continuing operations before income taxes 5,515 4,083 7,615 6,396
Provision for income taxes 1,538 1,131 2,139 1,803
Income from continuing operations 3,977 2,952 5,476 4,593
Income from discontinued operations, net 0 6,776 0 6,862
Net income 3,977 9,728 5,476 11,455
Loss attributable to noncontrolling interest (172) (97) (291) (268)
Net income attributable to the Company $ 4,149 $ 9,825 $ 5,767 $ 11,723
Basic earnings per common share        
Income from continuing operations $ 0.41 $ 0.30 $ 0.56 $ 0.46
Discontinued operations 0.00 0.68 0.00 0.69
Net income attributable to the Company 0.43 0.99 0.59 1.18
Diluted earnings per common share        
Income from continuing operations 0.41 0.30 0.56 0.46
Discontinued operations 0.00 0.68 0.00 0.69
Net income attributable to the Company $ 0.43 $ 0.99 $ 0.59 $ 1.17
Number of shares (in thousands) used in computing:        
-basic earnings per common share 9,620 9,915 9,712 9,933
-diluted earnings per common share 9,649 9,960 9,744 9,978