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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues:        
Lease revenue $ 7,246 $ 7,432 $ 14,416 $ 14,264
Mining royalty and rents 3,231 3,264 6,194 6,546
Total revenues 10,477 10,696 20,610 20,810
Cost of operations:        
Depreciation, depletion and amortization 2,543 2,819 5,078 5,599
Operating expenses 1,702 1,822 3,569 3,562
Property taxes 860 879 1,667 1,826
General and administrative 2,552 2,409 4,594 4,202
Total cost of operations 7,657 7,929 14,908 15,189
Total operating profit 2,820 2,767 5,702 5,621
Net investment income 3,708 3,125 6,491 5,507
Interest expense (829) (1,129) (1,740) (2,135)
Equity in loss of joint ventures (2,724) (4,047) (5,743) (7,672)
Gain on sale of real estate 0 (2) 0 8
Income before income taxes 2,975 714 4,710 1,329
Provision for income taxes 916 222 1,316 431
Net income 2,059 492 3,394 898
Income (loss) attributable to noncontrolling interest 15 (106) 49 (265)
Net income attributable to the Company $ 2,044 $ 598 $ 3,345 $ 1,163
Earnings per common share        
Net income attributable to the Company- basic (usd per share) [1] $ 0.11 $ 0.03 $ 0.18 $ 0.06
Net income attributable to the Company- diluted (usd per share) [1] $ 0.11 $ 0.03 $ 0.18 $ 0.06
Number of shares (in thousands) used in computing        
Number of shares (in thousands) used in computing basic earnings per common shares (shares) [1] 18,879 18,864 18,871 18,848
Number of shares (in thousands) used in computing diluted earnings per common shares (shares) [1] 18,948 18,932 18,958 18,926
[1] Adjusted for the 2 for 1 stock split that occurred in April 2024