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v3.19.2

Business Segments (Tables) | 6 Months Ended
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Jun. 30, 2019
Segment Reporting [Abstract] |
Business segments (in thousands) |
|  | Three Months ended |  | Six Months ended
|  | June 30, |  | June 30,
|  | 2019 |  | 2018 |  | 2019 |  | 2018
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Asset management |  | $ | 662 |  |  |  | 568 |  |  |  | 1,303 |  |  |  | 1,149 |
Mining royalty lands |  |  | 2,633 |  |  |  | 2,055 |  |  |  | 4,862 |  |  |  | 3,827 |
Development |  |  | 316 |  |  |  | 317 |  |  |  | 585 |  |  |  | 614 |
Stabilized Joint Venture |  |  | 2,752 |  |  |  | 2,613 |  |  |  | 5,327 |  |  |  | 5,038 |
|  |  | 6,363 |  |  |  | 5,553 |  |  |  | 12,077 |  |  |  | 10,628 |
Operating profit (loss): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Before corporate expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Asset management |  | $ | 128 |  |  |  | 258 |  |  |  | 225 |  |  |  | 507 |
Mining royalty lands |  |  | 2,458 |  |  |  | 1,918 |  |  |  | 4,502 |  |  |  | 3,536 |
Development |  |  | (565 | ) |  |  | (630 | ) |  |  | (1,118 | ) |  |  | (1,007 | )
Stabilized Joint Venture |  |  | 637 |  |  |  | (293 | ) |  |  | 1,049 |  |  |  | (1,007 | )
Operating profit before corporate expenses |  |  | 2,658 |  |  |  | 1,253 |  |  |  | 4,658 |  |  |  | 2,029 |
Corporate expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allocated to asset management |  |  | (139 | ) |  |  | (109 | ) |  |  | (302 | ) |  |  | (112 | )
Allocated to mining royalty lands |  |  | (36 | ) |  |  | (52 | ) |  |  | (79 | ) |  |  | (129 | )
Allocated to development |  |  | (341 | ) |  |  | (283 | ) |  |  | (740 | ) |  |  | (702 | )
Allocated to stabilized joint venture |  |  | (35 | ) |  |  | (95 | ) |  |  | (75 | ) |  |  | (237 | )
Unallocated |  |  | — |  |  |  | (1,170 | ) |  |  | — |  |  |  | (1,208 | )
Total corporate expenses |  |  | (551 | ) |  |  | (1,709 | ) |  |  | (1,196 | ) |  |  | (2,388 | )
|  | $ | 2,107 |  |  |  | (456 | ) |  |  | 3,462 |  |  |  | (359 | )
Interest expense |  | $ | 272 |  |  |  | 807 |  |  |  | 860 |  |  |  | 1,650 |
Depreciation, depletion and amortization: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Asset management |  | $ | 196 |  |  |  | 129 |  |  |  | 373 |  |  |  | 260 |
Mining royalty lands |  |  | 42 |  |  |  | 36 |  |  |  | 94 |  |  |  | 90 |
Development |  |  | 49 |  |  |  | 57 |  |  |  | 107 |  |  |  | 114 |
Stabilized Joint Venture |  |  | 1,185 |  |  |  | 1,909 |  |  |  | 2,385 |  |  |  | 4,065 |
|  | $ | 1,472 |  |  |  | 2,131 |  |  |  | 2,959 |  |  |  | 4,529 |
Capital expenditures: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Asset management |  | $ | 1,352 |  |  |  | 6 |  |  |  | 7,818 |  |  |  | 167 |
Mining royalty lands |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Development |  |  | (122 | ) |  |  | 1,018 |  |  |  | 248 |  |  |  | 1,310 |
Stabilized Joint Venture |  |  | 227 |  |  |  | 185 |  |  |  | 110 |  |  |  | (58 | )
|  | $ | 1,457 |  |  |  | 1,209 |  |  |  | 8,176 |  |  |  | 1,419 |
|  | June 30, |  |  |  | December 31, |  |
Identifiable net assets |  | 2019 |  |  |  | 2018 |  |
Asset management | $ | 16,981 |  |  |  | 10,593 |  |
Discontinued operations |  | 871 |  |  |  | 3,224 |  |
Mining royalty lands |  | 38,702 |  |  |  | 37,991 |  |
Development |  | 115,016 |  |  |  | 119,029 |  |
Stabilized Joint Venture |  | 136,048 |  |  |  | 138,206 |  |
Investments available for sale at fair value |  | 122,183 |  |  |  | 165,212 |  |
Cash items |  | 76,235 |  |  |  | 22,749 |  |
Unallocated corporate assets |  | 29,111 |  |  |  | 8,484 |  |
| $ | 535,147 |  |  |  | 505,488 |  |

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