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Business Segments (Tables)

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Business segments

Operating results and certain other financial data for the Company’s Business segments are as follows (in thousands):


			Three Months ended
			March 31,
			2024				2023
	Revenues:
Revenues	Industrial and commercial		$	1,453				1,070
Revenues	Mining royalty lands			2,963				3,282
Revenues	Development			303				486
Revenues	Multifamily			5,414				5,276
Revenues				10,133				10,114

	Operating profit (loss):
	Before corporate expenses:
Operating profit before corporate expenses	Industrial and commercial		$	812				591
Operating profit before corporate expenses	Mining royalty lands			2,724				3,013
Operating profit before corporate expenses	Development			(60	)			50
Operating profit before corporate expenses	Multifamily			1,448				993
Operating profit before corporate expenses	Operating profit before G&A			4,924				4,647
	General and administrative expenses:
General and administrative expenses	Allocated to Industrial and commercial			(250	)			(296	)
General and administrative expenses	Allocated to mining royalty lands			(278	)			(223	)
General and administrative expenses	Allocated to development			(1,278	)			(1,085	)
General and administrative expenses	Allocated to Multifamily			(236	)			(189	)
General and administrative expenses	Total general and administrative expenses			(2,042	)			(1,793	)
Operating profit			$	2,882				2,854

Interest expense	Interest expense		$	911				1,006


	Depreciation, depletion and amortization:
Depreciation, depletion and amortization	Industrial and commercial		$	363				278
Depreciation, depletion and amortization	Mining royalty lands			149				183
Depreciation, depletion and amortization	Development			42				55
Depreciation, depletion and amortization	Multifamily			1,981				2,264
Depreciation, depletion and amortization			$	2,535				2,780
	Capital expenditures:
Capital expenditures	Industrial and commercial		$	145				480
Capital expenditures	Mining royalty lands			20				—
Capital expenditures	Development			5,954				594
Capital expenditures	Multifamily			86				132
Capital expenditures			$	6,205				1,206

Identifiable net assets

Identifiable net assets

			March 31,				December 31,
	Identifiable net assets		2024				2023

Assets	Industrial and commercial	$	38,490				38,784
Assets	Mining royalty lands		48,281				48,072
Assets	Development		142,908				212,384
Assets	Multifamily		321,613				249,750
Cash	Cash items		153,139				158,415
Assets	Unallocated corporate assets		1,242				1,761
Assets		$	705,673				709,166