XML 16 R2.htm IDEA: XBRL DOCUMENT v3.22.1
Consolidated Statements of Income - USD ($)
shares in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenues:      
     Lease revenue $ 21,755,000 $ 14,106,000 $ 14,318,000
     Mining Royalty and rents 9,465,000 9,477,000 9,438,000
 Total Revenues 31,220,000 23,583,000 23,756,000
Cost of operations:      
     Depreciation, depletion and amortization 12,737,000 5,828,000 5,855,000
     Operating expenses 6,219,000 3,333,000 4,134,000
     Property taxes 3,751,000 2,826,000 2,941,000
     Management company indirect 3,168,000 2,951,000 2,514,000
     Corporate expenses (Note 3 Related Party) 3,071,000 3,511,000 2,556,000
Total cost of operations 28,946,000 18,449,000 18,000,000
Total operating profit 2,274,000 5,134,000 5,756,000
Net investment income, including realized gains of $0, $298, and $949, respectively 4,215,000 7,415,000 8,375,000
Interest expense (2,304,000) (1,100,000) (1,054,000)
Equity in loss of joint ventures (5,754,000) (5,690,000) (1,954,000)
Gain on remeasurement of investment in real estate partnership 51,139,000 0 0
Gain on sale of real estate 805,000 9,170,000 661,000
Income from continuing operations before income taxes 50,375,000 14,929,000 11,784,000
Provision for income taxes 10,281,000 3,207,000 2,962,000
Income from continuing operations 40,094,000 11,722,000 8,822,000
Income from discontinued operations, net of tax 0 0 6,856,000
Net income 40,094,000 11,722,000 15,678,000
Gain (loss) attributable to noncontrolling interest 11,879,000 (993,000) (499,000)
Net income attributable to the Company $ 28,215,000 $ 12,715,000 $ 16,177,000
Earnings per common share:      
    Basic $ 4.29 $ 1.22 $ 0.89
    Diluted 4.27 1.22 0.89
    Basic 0 0 0.69
    Diluted 0 0 0.69
    Basic 3.02 1.33 1.64
    Diluted $ 3.00 $ 1.32 $ 1.63
Number of shares (in thousands) used in computing:      
    -basic earnings per common share 9,355 9,580 9,883
    -diluted earnings per common share 9,397 9,609 9,926