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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues:        
     Lease revenue $ 7,432 $ 6,745 $ 14,264 $ 13,027
     Mining lands lease revenue 3,264 2,883 6,546 5,308
 Total Revenues 10,696 9,628 20,810 18,335
Cost of operations:        
     Depreciation, depletion and amortization 2,819 2,868 5,599 5,766
     Operating expenses 1,822 1,541 3,562 3,349
     Property taxes 879 1,041 1,826 2,069
     Management company indirect 1,040 805 1,879 1,579
     Corporate expenses (Note 4 Related Party) 1,369 1,307 2,323 2,142
Total cost of operations 7,929 7,562 15,189 14,905
Total operating profit 2,767 2,066 5,621 3,430
Net investment income 3,125 1,120 5,507 2,018
Interest expense (1,129) (739) (2,135) (1,477)
Equity in loss of joint ventures (4,047) (1,766) (7,672) (3,370)
Gain (loss) on sale of real estate (2) 0 8 733
Income before income taxes 714 681 1,329 1,334
Provision for income taxes 222 99 431 348
Net income 492 582 898 986
Loss attributable to noncontrolling interest (106) (75) (265) (343)
Net income attributable to the Company $ 598 $ 657 $ 1,163 $ 1,329
Earnings per common share:        
    Basic $ 0.06 $ 0.07 $ 0.12 $ 0.14
    Diluted $ 0.06 $ 0.07 $ 0.12 $ 0.14
Number of shares (in thousands) used in computing:        
    -basic earnings per common share 9,432 9,384 9,424 9,375
    -diluted earnings per common share 9,466 9,424 9,463 9,416