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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues:        
     Lease revenue $ 6,745 $ 5,861 $ 13,027 $ 9,399
     Mining lands lease revenue 2,883 2,634 5,308 4,949
 Total Revenues 9,628 8,495 18,335 14,348
Cost of operations:        
     Depreciation, depletion and amortization 2,868 4,388 5,766 5,831
     Operating expenses 1,541 1,394 3,349 2,235
     Property taxes 1,041 1,000 2,069 1,778
     Management company indirect 805 822 1,579 1,392
     Corporate expenses (Note 4 Related Party) 1,307 1,050 2,142 1,829
Total cost of operations 7,562 8,654 14,905 13,065
Total operating profit (loss) 2,066 (159) 3,430 1,283
Net investment income 1,120 1,048 2,018 2,423
Interest expense (739) (446) (1,477) (1,371)
Equity in loss of joint ventures (1,766) (1,118) (3,370) (2,753)
Gain on remeasurement of investment in real estate partnership 0 0 0 51,139
Gain on sale of real estate 0 805 733 805
Income before income taxes 681 130 1,334 51,526
Provision for (benefit from) income taxes 99 (151) 348 10,370
Net income 582 281 986 41,156
Gain (loss) attributable to noncontrolling interest (75) 199 (343) 12,701
Net income attributable to the Company $ 657 $ 82 $ 1,329 $ 28,455
Earnings per common share:        
    Basic $ 0.07 $ 0.01 $ 0.14 $ 3.04
    Diluted $ 0.07 $ 0.01 $ 0.14 $ 3.03
Number of shares (in thousands) used in computing:        
    -basic earnings per common share 9,384 9,353 9,375 9,347
    -diluted earnings per common share 9,424 9,390 9,416 9,385