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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenues:        
     Lease revenue $ 5,861 $ 3,447 $ 9,399 $ 7,045
     Mining lands lease revenue 2,634 2,402 4,949 4,587
 Total Revenues 8,495 5,849 14,348 11,632
Cost of operations:        
     Depreciation, depletion and amortization 4,388 1,500 5,831 2,968
     Operating expenses 1,394 781 2,235 1,706
     Property taxes 1,000 646 1,778 1,383
     Management company indirect 822 692 1,392 1,364
     Corporate expenses 1,050 1,026 1,829 2,213
Total cost of operations 8,654 4,645 13,065 9,634
Total operating profit (loss) (159) 1,204 1,283 1,998
Net investment income, including realized gains of $0, $134, $0 and $242, respectively 1,048 2,110 2,423 4,101
Interest expense (446) (45) (1,371) (96)
Equity in loss of joint ventures (1,118) (1,343) (2,753) (1,985)
Gain on remeasurement of investment in real estate partnership 0 0 51,139 0
Gain on sale of real estate 805 3,589 805 3,597
Income before income taxes 130 5,515 51,526 7,615
Provision for (benefit from) income taxes (151) 1,538 10,370 2,139
Net income 281 3,977 41,156 5,476
Gain (loss) attributable to noncontrolling interest 199 (172) 12,701 (291)
Net income attributable to the Company $ 82 $ 4,149 $ 28,455 $ 5,767
Earnings per common share:        
    Basic $ 0.01 $ 0.43 $ 3.04 $ 0.59
    Diluted $ 0.01 $ 0.43 $ 3.03 $ 0.59
Number of shares (in thousands) used in computing:        
    -basic earnings per common share 9,353 9,620 9,347 9,712
    -diluted earnings per common share 9,390 9,649 9,385 9,744