XML 18 R2.htm IDEA: XBRL DOCUMENT v3.24.1
CONOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenues:      
     Lease revenue $ 28,979,000 $ 26,798,000 $ 21,755,000
     Mining Royalty and rents 12,527,000 10,683,000 9,465,000
 Total Revenues 41,506,000 37,481,000 31,220,000
Cost of operations:      
     Depreciation, depletion and amortization 10,821,000 11,217,000 12,737,000
     Operating expenses 7,364,000 7,065,000 6,219,000
     Property taxes 3,650,000 4,125,000 3,751,000
     Management company indirect 3,969,000 3,416,000 3,168,000
     Corporate expenses (Note 3 Related Party) 4,002,000 3,662,000 3,071,000
Total cost of operations 29,806,000 29,485,000 28,946,000
Total operating profit 11,700,000 7,996,000 2,274,000
Net investment income 10,897,000 5,473,000 4,215,000
Interest expense (4,315,000) (3,045,000) (2,304,000)
Equity in loss of joint ventures (11,937,000) (5,721,000) (5,754,000)
Gain on remeasurement of investment in real estate partnership 0 0 51,139,000
Gain on sale of real estate and other income 53,000 874,000 805,000
Income before income taxes 6,398,000 5,577,000 50,375,000
Provision for income taxes 1,516,000 1,530,000 10,281,000
Net income 4,882,000 4,047,000 40,094,000
(Loss) gain attributable to noncontrolling interest (420,000) (518,000) 11,879,000
Net income attributable to the Company $ 5,302,000 $ 4,565,000 $ 28,215,000
Earnings per common share:      
    Basic $ 0.56 $ 0.49 $ 3.02
    Diluted $ 0.56 $ 0.48 $ 3.00
Number of shares (in thousands) used in computing:      
    -basic earnings per common share 9,420 9,386 9,355
    -diluted earnings per common share 9,461 9,435 9,397