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Note 10 - Leasing Arrangements

9 Months Ended

Sep. 30, 2024

Notes to Financial Statements

Lessor, Operating Leases [Text Block]

10. LEASING ARRANGEMENTS

The Company leases land primarily to agriculture operators and leases space in commercial buildings primarily to restaurant and retail tenants with terms continuing through 2048. These operating leases generally provide for minimum rents for commercial properties and land assets and, in some cases, licensing fees for use of trade names, percentage rentals based on tenant revenues, and reimbursement of common area maintenance and other expenses. Certain leases allow the lessee an option to extend or terminate the agreement. There are no leases allowing a lessee an option to purchase the underlying asset. Leasing income subject to Accounting Standards Codification Topic 842 for the three and nine months ended September 30, 2024 and 2023 were as follows:

		Three Months Ended								Nine Months Ended
		September 30,								September 30,
		(unaudited)								(unaudited)
		2024				2023				2024				2023
		(in thousands)								(in thousands)
Minimum rentals		$	1,083			$	849			$	3,105			$	2,493
Percentage rentals			734				233				1,783				1,263
Licensing fees			67				188				136				706
Other			374				349				725				916
Total		$	2,258			$	1,619			$	5,749			$	5,378

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- Definition

The entire disclosure for lessor's operating leases.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 30
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/842-30/tableOfContent

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