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Business Segments | 12 Months Ended
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Sep. 30, 2014
Segment Reporting [Abstract] |
Business Segments | 10. Business Segments. The Company operates in three reportable business segments. The Company’s operations are substantially in the Southeastern and Mid-Atlantic states. The transportation segment hauls petroleum and other liquids and dry bulk commodities by tank trailers. The Company’s real estate operations consist of two reportable segments. The Mining royalty land segment owns real estate including construction aggregate royalty sites and parcels held for investment. The Developed property rentals segment acquires, constructs, and leases office/warehouse buildings primarily in the Baltimore/Northern Virginia/Washington area and holds real estate for future development or related to its developments. The Company’s transportation and real estate groups operate independently and have minimal shared overhead except for corporate expenses. Corporate expenses are allocated in fixed quarterly amounts based upon budgeted and estimated proportionate cost by segment. Unallocated corporate expenses primarily include stock compensation and corporate aircraft expenses. Reclassifications to prior period amounts have been made to be comparable to the current presentation. Operating results and certain other financial data for the Company’s business segments are as follows (in thousands):
|  |  | 2014 |  |  |  | 2013 |  |  |  | 2012 |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
Transportation |  | $ | 129,162 |  |  |  | 112,120 |  |  |  | 103,476 |
Mining royalty land |  |  | 5,349 |  |  |  | 5,302 |  |  |  | 4,483 |
Developed property rentals |  |  | 25,629 |  |  |  | 22,352 |  |  |  | 19,555 |
|  | $ | 160,140 |  |  |  | 139,774 |  |  |  | 127,514 |
Operating profit: |  |  |  |  |  |  |  |  |  |  |  |
Transportation |  | $ | 8,027 |  |  |  | 11,119 |  |  |  | 9,107 |
Mining royalty land |  |  | 4,736 |  |  |  | 4,739 |  |  |  | 3,905 |
Developed property rentals |  |  | 10,228 |  |  |  | 9,427 |  |  |  | 5,497 |
Corporate expenses: |  |  |  |  |  |  |  |  |  |  |  |
Allocated to transportation |  |  | (1,721 | ) |  |  | (1,765 | ) |  |  | (1,631 | )
Allocated to mining land |  |  | (755 | ) |  |  | (731 | ) |  |  | (674 | )
Allocated to developed property |  |  | (1,133 | ) |  |  | (1,094 | ) |  |  | (1,012 | )
Unallocated |  |  | (1,614 | ) |  |  | (1,261 | ) |  |  | (1,091 | )
|  |  | (5,223 | ) |  |  | (4,851 | ) |  |  | (4,408 | )
|  | $ | 17,768 |  |  |  | 20,434 |  |  |  | 14,101 |
Interest expense: |  |  |  |  |  |  |  |  |  |  |  |
Mining royalty land |  | $ | 44 |  |  |  | 59 |  |  |  | 40 |
Developed property rentals |  |  | 1,431 |  |  |  | 2,461 |  |  |  | 2,598 |
|  | $ | 1,475 |  |  |  | 2,520 |  |  |  | 2,638 |
Capital expenditures: |  |  |  |  |  |  |  |  |  |  |  |
Transportation (a) |  | $ | 13,028 |  |  |  | 15,612 |  |  |  | 10,459 |
Mining royalty land |  |  | — |  |  |  | — |  |  |  | 11,039 |
Developed property rentals: |  |  |  |  |  |  |  |  |  |  |  |
Capitalized interest |  |  | 1,763 |  |  |  | 1,863 |  |  |  | 1,646 |
Internal labor |  |  | 469 |  |  |  | 418 |  |  |  | 609 |
Real estate taxes (b) |  |  | 112 |  |  |  | 904 |  |  |  | (1,209 | )
Other costs |  |  | 16,939 |  |  |  | 19,751 |  |  |  | 11,804 |
|  | $ | 32,311 |  |  |  | 38,548 |  |  |  | 34,348 |
(a)Includes $3,397 related to the Pipeline Transportation, Inc. acquisition during fiscal 2014. (b)Includes a $2,311 receivable on previously capitalized real estate
taxes on the Anacostia property for fiscal 2012.
Depreciation, depletion and |  |  |  |  |  |  |  |  |  |  |  |
amortization: |  |  |  |  |  |  |  |  |  |  |  |
Transportation |  | $ | 8,813 |  |  |  | 7,401 |  |  |  | 6,750 |
Mining royalty land |  |  | 124 |  |  |  | 105 |  |  |  | 112 |
Developed property rentals |  |  | 6,721 |  |  |  | 6,141 |  |  |  | 5,729 |
Other |  |  | 481 |  |  |  | 418 |  |  |  | 403 |
|  | $ | 16,139 |  |  |  | 14,065 |  |  |  | 12,994 |
Identifiable net assets at September 30: |  |  |  |  |  |  |  |  |  |  |  |
Transportation |  | $ | 59,465 |  |  |  | 49,410 |  |  |  | 42,642 |
Mining royalty land |  |  | 39,368 |  |  |  | 40,008 |  |  |  | 39,695 |
Developed property rentals |  |  | 211,556 |  |  |  | 195,476 |  |  |  | 184,358 |
Cash items |  |  | 1,013 |  |  |  | 502 |  |  |  | 6,713 |
Unallocated corporate assets |  |  | 1,669 |  |  |  | 1,697 |  |  |  | 2,297 |
|  |  | 313,071 |  |  |  | 287,093 |  |  |  | 275,705 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 + Details
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