Investments (Tables)

12 Months Ended

Dec. 31, 2013

Investments [Abstract]

Schedule Of Available-For-Sale Securities Investments Results

The investment results for the years ended December 31, 2013 and 2012 are as follows for available-for-sale equity securities carried at fair value:

	Amortized		Gross Unrealized Holding				Fair
December 31, 2013	Cost		Gains		Losses		Value
Available-for-sale equity securities
Cement industry	$	2,940,000	$	9,730,000	$	—	$	12,670,000
General building materials industry	3,600,000		2,970,000		—		6,570,000
Oil and gas refining and marketing industry	340,000		4,090,000		—		4,430,000
Residential construction industry	1,020,000		70,000		—		1,090,000
Total available-for-sale equity securities	$	7,900,000	$	16,860,000	$	—	$	24,760,000
Less: Deferred taxes on unrealized holding gains			6,744,000
Unrealized gains recorded in equity, net of deferred tax			$	10,116,000

December 31, 2012
Available-for-sale equity securities
Cement industry	$	4,190,000	$	8,290,000	$	—	$	12,480,000
General building materials industry	3,600,000		2,150,000		—		5,750,000
Oil and gas refining and marketing industry	470,000		6,060,000		—		6,530,000
Total available-for-sale equity securities	$	8,260,000	$	16,500,000	$	—	$	24,760,000
Less: Deferred taxes on unrealized holding gains			6,600,000
Unrealized gains recorded in equity, net of deferred tax			$	9,900,000

Investment-related cash flow information

Investment-related cash flow information for available-for-sale equity securities carried at fair value for December 31, 2013, 2012 and 2011 is as follows: 

	2013		2012		2011
Proceeds from sale of equity securities	$	5,373,412	$	6,799,194	$	8,287,182
Realized gain on equity securities	3,891,296		4,173,141		5,051,406
Realized losses due to other-than-temporary
impairment of equity securities	—		—		(415,287		)
Payment for purchases of equity securities	1,116,664		—		—

Schedule for Change in Accounting Principle

The following financial statement line items for fiscal years 2011, 2012 and 2013 were affected by the change in accounting principle from cost method to equity method of accounting for the investment in GFI:

	As Adjusted			As Previously Reported
As of December 31, 2012:
Investments	$	25,298,086		$	27,380,650
Investments in affiliates	2,626,200			—
Retained earnings	97,758,013			97,214,376
Total stockholders' equity	102,902,450			102,358,813
As of December 31, 2011
Retained earnings	98,320,771			97,751,202
Total stockholders' equity	98,642,947			98,073,378
As of January 1, 2011
Retained earnings (adjusted for prior periods beginning 2001)	102,802,198			102,270,564
Year ended December 31, 2012:
Dividend income	65,555			71,177
Equity in affiliate losses, net of tax	(20,310		)	—
Net income	3,129,785			3,155,717
Net income per share	0.78			0.79
Year ended December 31, 2011:
Equity in affiliate earnings, net of tax	37,935			—
Net income	1,590,243			1,552,308
Net income per share	0.39			0.38

Pertinent information about the Company's investment in GFI is as follows:

	2013			2012			2011
Carrying value	$	3,428,633		$	2,626,200
Ownership percentage	19.34		%	14.92		%
Cash dividends received	$	5,623		$	5,623
Undistributed earnings	837,519			710,074
Difference between carrying amount and the underlying equity in net assets*	172,654			275,256
Equity in earnings	127,446			(20,310		)	$	37,935
* The difference between carrying amount and the underlying equity in net assets is in a memo account allocated to goodwill.