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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues:        
     Lease revenue $ 7,509 $ 6,823 $ 21,773 $ 19,850
     Mining lands lease revenue 3,082 2,471 9,628 7,779
 Total Revenues 10,591 9,294 31,401 27,629
Cost of operations:        
     Depreciation, depletion and amortization 2,816 2,744 8,415 8,510
     Operating expenses 2,012 1,967 5,574 5,316
     Property taxes 919 1,034 2,745 3,103
     Management company indirect 1,059 966 2,938 2,545
     Corporate expenses (Note 4 Related Party) 889 734 3,212 2,876
Total cost of operations 7,695 7,445 22,884 22,350
Total operating profit 2,896 1,849 8,517 5,279
Net investment income 2,700 1,188 8,207 3,206
Interest expense (1,116) (738) (3,251) (2,215)
Equity in loss of joint ventures (2,913) (1,878) (10,585) (5,248)
Gain (loss) on sale of real estate (1) 141 7 874
Income before income taxes 1,566 562 2,895 1,896
Provision for income taxes 467 178 898 526
Net income 1,099 384 1,997 1,370
Loss attributable to noncontrolling interest (160) (96) (425) (439)
Net income attributable to the Company $ 1,259 $ 480 $ 2,422 $ 1,809
Earnings per common share:        
    Basic $ 0.13 $ 0.05 $ 0.26 $ 0.19
    Diluted $ 0.13 $ 0.05 $ 0.26 $ 0.19
Number of shares (in thousands) used in computing:        
    -basic earnings per common share 9,423 9,397 9,423 9,382
    -diluted earnings per common share 9,460 9,433 9,463 9,423