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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net income $ 6,460 $ 4,882 $ 4,047
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, depletion and amortization 10,390 10,975 11,462
Deferred income taxes (1,768) 1,496 1,813
Equity in loss of joint ventures 11,359 11,937 5,721
Gain on sale of equipment and property (209) (14) (904)
Stock-based compensation 1,957 1,738 1,569
Net changes in operating assets and liabilities:      
Accounts receivable (306) 120 (373)
Deferred costs and other assets 964 (499) (1,972)
Accounts payable and accrued liabilities (795) 3,028 (276)
Income taxes payable and receivable 948 (355) 1,121
Other long-term liabilities (14) (337) 130
Net cash provided by operating activities 28,986 32,971 22,338
Cash flows from investing activities:      
Investments in properties (51,194) (11,217) (27,615)
Investments in joint ventures (16,372) (46,693) (21,578)
Return of capital from investments in joint ventures 17,176 9,210 20,770
Proceeds from sales of investments available for sale 0 0 4,317
Cash held in escrow (455) (63) (45)
Proceeds from sale of assets 224 16 955
Net cash (used in) provided by investing activities (50,621) (48,747) (23,196)
Cash flows from financing activities:      
Contribution from noncontrolling interest 15,706 0 27,894
Distribution to noncontrolling interests (3,227) (3,190) (11,472)
Repurchase of Company stock 0 (2,000) 0
Exercise of employee stock options 221 1,024 412
Net cash (used in) provided by financing activities 12,700 (4,166) 16,834
Net (decrease) increase in cash and cash equivalents (8,935) (19,942) 15,976
Cash and cash equivalents at beginning of year 157,555 177,497 161,521
Cash and cash equivalents at end of the year 148,620 157,555 177,497
Cash paid (received) during the year for:      
Interest 2,971 4,165 2,893
Income taxes $ 2,790 $ 927 $ (1,761)