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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income $ 3,394 $ 898
Adjustments to reconcile net income to net cash provided by continuing operating activities:    
Depreciation, depletion and amortization 5,210 5,724
Deferred income taxes (1,100) (57)
Equity in loss of joint ventures 5,743 7,672
Gain on sale of equipment and property 0 (15)
Stock-based compensation 1,280 1,201
Net changes in operating assets and liabilities:    
Accounts receivable (781) (306)
Deferred costs and other assets 455 (278)
Accounts payable and accrued liabilities (1,193) (2,186)
Income taxes payable and receivable 2,045 168
Other long-term liabilities 29 32
Net cash provided by operating activities 15,082 12,853
Cash flows from investing activities:    
Investments in properties (12,518) (2,185)
Investments in joint ventures (14,847) (26,634)
Return of capital from investments in joint ventures 13,777 6,897
Proceeds from sales of investments available for sale 0 0
Proceeds from the sale of assets 0 17
Cash held in escrow (631) (26)
Net cash used in investing activities (14,219) (21,931)
Cash flows from financing activities:    
Distribution to noncontrolling interest (1,489) (1,685)
Repurchase of Company stock 0 (1,000)
Exercise of employee stock options 0 803
Net cash used in financing activities (1,489) (1,882)
Net decrease in cash and cash equivalents (626) (10,960)
Cash and cash equivalents at beginning of year 157,555 177,497
Cash and cash equivalents at end of the period 156,929 166,537
Cash paid during the period for:    
Interest 1,725 2,133
Income taxes $ 366 $ 530