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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Revenues:        
Rental revenue $ 3,440 $ 3,102 $ 9,937 $ 4,609
Mining Royalty and rents 2,102 1,763 5,885 5,311
Revenue - reimbursements 200 170 548 469
Total revenues 5,742 5,035 16,370 10,389
Cost of operations:        
Depreciation, depletion and amortization 1,821 2,804 6,350 3,303
Operating expenses 983 875 2,951 1,312
Environmental remediation (465) 0 (465) 0
Property taxes 663 647 1,949 1,384
Management company indirect 550 351 1,366 962
Corporate expenses (Note 4 Related Party) 522 617 2,910 2,510
Total cost of operations 4,074 5,294 15,061 9,471
Total operating profit (loss) 1,668 (259) 1,309 918
Interest income 1,654 0 1,875 0
Interest expense (768) (783) (2,418) (783)
Equity in loss of joint ventures (13) (12) (36) (1,589)
Gain on remeasurement of investment in real estate partnership 0 60,196 0 60,196
Loss on investment land sold (3) 0 (3) 0
Income before income taxes 2,538 59,142 727 58,742
Provision for income taxes 508 15,543 269 15,371
Income from continuing operations 2,030 43,599 458 43,371
Income (loss) from discontinued operations, net (78) 1,585 122,109 4,969
Net income 1,952 45,184 122,567 48,340
Gain (loss) attributable to noncontrolling interest (272) 19,793 (1,199) 19,793
Net income attributable to the Company $ 2,224 $ 25,391 $ 123,766 $ 28,547
Basic earnings per common share        
Income from continuing operations $ 0.20 $ 4.36 $ 0.05 $ 4.35
Discontinued operations (0.01) 0.16 12.17 0.50
Net income attributable to the Company 0.22 2.54 12.33 2.86
Diluted earnings per common share        
Income from continuing operations 0.20 4.33 0.05 4.32
Discontinued operations (0.01) 0.16 12.08 0.50
Net income attributable to the Company $ 0.22 $ 2.52 $ 12.24 $ 2.84
Number of shares (in thousands) used in computing:        
-basic earnings per common share 10,062 10,004 10,037 9,967
-diluted earnings per common share 10,135 10,066 10,110 10,035