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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenues:        
Rental revenue $ 8,738 $ 6,259 $ 21,243 $ 18,430
Mining Royalty and rents 1,763 2,016 5,311 5,805
Revenue - reimbursements 1,553 1,501 4,182 4,399
Total revenues 12,054 9,776 30,736 28,634
Cost of operations:        
Depreciation, depletion and amortization 4,769 2,160 9,030 6,155
Operating expenses 1,879 1,146 3,882 3,651
Environmental remediation expense 0 0 0 2,000
Property taxes 1,401 1,087 3,592 3,357
Management company indirect 560 419 1,504 1,340
Corporate expenses (Note 4 Related Party) 617 656 2,510 2,348
Total cost of operations 9,226 5,468 20,518 18,851
Total operating profit 2,828 4,308 10,218 9,783
Interest income 0 0 0 1
Interest expense (1,251) (273) (1,870) (1,080)
Equity in loss of joint ventures (12) (652) (1,589) (924)
Gain on remeasurement of investment in real estate partnership 60,196 0 60,196 0
Loss on investment land sold 0 (148) 0 (257)
Income before income taxes 61,761 3,235 66,955 7,523
Provision for income taxes 16,577 1,278 18,615 2,972
Net income 45,184 1,957 48,340 4,551
Income attributable to noncontrolling interest 19,793 0 19,793 0
Net income attributable to the Company $ 25,391 $ 1,957 $ 28,547 $ 4,551
Earnings per common share:        
Basic $ 2.54 $ .20 $ 2.86 $ .46
Diluted $ 2.52 $ .20 $ 2.84 $ .46
Number of shares (in thousands) used in computing:        
-basic earnings per common share 10,004 9,865 9,967 9,860
-diluted earnings per common share 10,066 9,908 10,035 9,902