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v3.23.3

Business Segments (Tables) | 3 Months Ended
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Sep. 30, 2023
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 |  | Nine months ended
|  |  | September 30, |  | September 30,
|  |  | 2023 |  | 2022 |  | 2023 |  | 2022
| Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues | Asset management |  | $ | 1,442 |  |  |  | 935 |  |  |  | 3,932 |  |  |  | 2,686 |
Revenues | Mining royalty lands |  |  | 3,082 |  |  |  | 2,471 |  |  |  | 9,628 |  |  |  | 7,779 |
Revenues | Development |  |  | 434 |  |  |  | 412 |  |  |  | 1,387 |  |  |  | 1,203 |
Revenues | Stabilized Joint Venture |  |  | 5,633 |  |  |  | 5,476 |  |  |  | 16,454 |  |  |  | 15,961 |
Revenues |  |  |  | 10,591 |  |  |  | 9,294 |  |  |  | 31,401 |  |  |  | 27,629 |
| Operating profit (loss): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Before corporate expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating profit before corporate expenses | Asset management |  | $ | 697 |  |  |  | 392 |  |  |  | 1,855 |  |  |  | 1,103 |
Operating profit before corporate expenses | Mining royalty lands |  |  | 2,608 |  |  |  | 2,083 |  |  |  | 8,391 |  |  |  | 6,764 |
Operating profit before corporate expenses | Development |  |  | (444 | ) |  |  | (865 | ) |  |  | (1,377 | ) |  |  | (2,164 | )
Operating profit before corporate expenses | Stabilized Joint Venture |  |  | 924 |  |  |  | 973 |  |  |  | 2,860 |  |  |  | 2,452 |
Operating profit before corporate expenses | Operating profit before corporate expenses |  |  | 3,785 |  |  |  | 2,583 |  |  |  | 11,729 |  |  |  | 8,155 |
| Corporate expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate expenses | Allocated to asset management |  |  | (177 | ) |  |  | (127 | ) |  |  | (630 | ) |  |  | (496 | )
Corporate expenses | Allocated to mining royalty lands |  |  | (99 | ) |  |  | (83 | ) |  |  | (360 | ) |  |  | (325 | )
Corporate expenses | Allocated to development |  |  | (529 | ) |  |  | (457 | ) |  |  | (1,918 | ) |  |  | (1,794 | )
Corporate expenses | Allocated to stabilized joint venture |  |  | (84 | ) |  |  | (67 | ) |  |  | (304 | ) |  |  | (261 | )
Corporate expenses | Total corporate expenses |  |  | (889 | ) |  |  | (734 | ) |  |  | (3,212 | ) |  |  | (2,876 | )
Operating profit |  |  | $ | 2,896 |  |  |  | 1,849 |  |  |  | 8,517 |  |  |  | 5,279 |
Interest expense | Interest expense |  | $ | 1,116 |  |  |  | 738 |  |  |  | 3,251 |  |  |  | 2,215 |
| Depreciation, depletion and amortization: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation, depletion and amortization | Asset management |  | $ | 369 |  |  |  | 219 |  |  |  | 1,006 |  |  |  | 683 |
Depreciation, depletion and amortization | Mining royalty lands |  |  | 138 |  |  |  | 172 |  |  |  | 472 |  |  |  | 416 |
Depreciation, depletion and amortization | Development |  |  | 44 |  |  |  | 47 |  |  |  | 140 |  |  |  | 139 |
Depreciation, depletion and amortization | Stabilized Joint Venture |  |  | 2,265 |  |  |  | 2,306 |  |  |  | 6,797 |  |  |  | 7,272 |
Depreciation, depletion and amortization |  |  | $ | 2,816 |  |  |  | 2,744 |  |  |  | 8,415 |  |  |  | 8,510 |
| Capital expenditures: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures | Asset management |  | $ | 12 |  |  |  | 202 |  |  |  | 557 |  |  |  | 797 |
Capital expenditures | Mining royalty lands |  |  | — |  |  |  | 1 |  |  |  | — |  |  |  | 11,218 |
Capital expenditures | Development |  |  | 2,179 |  |  |  | 8,548 |  |  |  | 3,640 |  |  |  | 13,927 |
Capital expenditures | Stabilized Joint Venture |  |  | 258 |  |  |  | (25 | ) |  |  | 437 |  |  |  | 195 |
Capital expenditures |  |  | $ | 2,449 |  |  |  | 8,726 |  |  |  | 4,634 |  |  |  | 26,137 |
Identifiable net assets | Identifiable net assets
|  |  | September 30, |  |  |  | December 31, |  |
| Identifiable net assets |  | 2023 |  |  |  | 2022 |  |
Assets | Asset management | $ | 39,155 |  |  |  | 26,053 |  |
Assets | Mining royalty lands |  | 48,126 |  |  |  | 48,494 |  |
Assets | Development |  | 194,297 |  |  |  | 188,834 |  |
Assets | Stabilized Joint Venture |  | 251,677 |  |  |  | 257,535 |  |
Cash | Cash items |  | 166,674 |  |  |  | 178,294 |  |
Assets | Unallocated corporate assets |  | 1,228 |  |  |  | 1,874 |  |
Assets |  | $ | 701,157 |  |  |  | 701,084 |  |

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