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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues:        
Lease revenue $ 7,434 $ 7,509 $ 21,850 $ 21,773
Mining royalty and rents 3,199 3,082 9,393 9,628
Total revenues 10,633 10,591 31,243 31,401
Cost of operations:        
Depreciation/depletion/amortization 2,551 2,816 7,629 8,415
Operating expenses 1,860 2,012 5,429 5,574
Property taxes 850 919 2,517 2,745
General and administrative 2,289 1,948 6,883 6,150
Total cost of operations 7,550 7,695 22,458 22,884
Total operating profit 3,083 2,896 8,785 8,517
Net investment income 2,304 2,700 8,795 8,207
Interest expense (742) (1,116) (2,482) (3,251)
Equity in loss of joint ventures (2,839) (2,913) (8,582) (10,585)
(Loss) gain on sale of real estate 0 (1) 0 7
Income before income taxes 1,806 1,566 6,516 2,895
Provision for income taxes 427 467 1,743 898
Net income 1,379 1,099 4,773 1,997
Income (loss) attributable to noncontrolling interest 18 (160) 67 (425)
Net income attributable to the Company $ 1,361 $ 1,259 $ 4,706 $ 2,422
Earnings per common share        
Net income attributable to the Company- basic (usd per share) [1] $ 0.07 $ 0.07 $ 0.25 $ 0.13
Net income attributable to the Company- diluted (usd per share) [1] $ 0.07 $ 0.07 $ 0.25 $ 0.13
Number of shares (in thousands) used in computing        
Number of shares (in thousands) used in computing basic earnings per common shares (in shares) [1] 18,887 18,846 18,877 18,846
Number of shares (in thousands) used in computing diluted earnings per common shares (in shares) [1] 18,972 18,920 18,967 18,926
[1] Adjusted for the 2 for 1 stock split that occurred in April 2024