XML 15 R4.htm IDEA: XBRL DOCUMENT v3.22.2.2
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenues:        
     Lease revenue $ 6,823 $ 6,224 $ 19,850 $ 15,623
     Mining lands lease revenue 2,471 2,249 7,779 7,198
 Total Revenues 9,294 8,473 27,629 22,821
Cost of operations:        
     Depreciation, depletion and amortization 2,744 3,796 8,510 9,627
     Operating expenses 1,967 1,557 5,316 3,792
     Property taxes 1,034 986 3,103 2,764
     Management company indirect 966 745 2,545 2,137
     Corporate expenses (Note 4 Related Party) 734 657 2,876 2,486
Total cost of operations 7,445 7,741 22,350 20,806
Total operating profit 1,849 732 5,279 2,015
Net investment income 1,188 943 3,206 3,366
Interest expense (738) (414) (2,215) (1,785)
Equity in loss of joint ventures (1,878) (1,244) (5,248) (3,997)
Gain on remeasurement of investment in real estate partnership 0 0 0 51,139
Gain on sale of real estate 141 0 874 805
Income before income taxes 562 17 1,896 51,543
Provision for income taxes 178 130 526 10,500
Net income (loss) 384 (113) 1,370 41,043
Gain (loss) attributable to noncontrolling interest (96) (465) (439) 12,236
Net income attributable to the Company $ 480 $ 352 $ 1,809 $ 28,807
Earnings per common share:        
    Basic $ 0.05 $ 0.04 $ 0.19 $ 3.08
    Diluted $ 0.05 $ 0.04 $ 0.19 $ 3.07
Number of shares (in thousands) used in computing:        
    -basic earnings per common share 9,397 9,363 9,382 9,352
    -diluted earnings per common share 9,433 9,399 9,423 9,390