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Note D - Marketable Equity Securities | 6 Months Ended
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Jun. 30, 2022
Notes to Financial Statements |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | NOTE D: MARKETABLE EQUITY SECURITIES The Company’s investments in marketable securities consist of equity securities with readily determinable fair values. The cost of securities sold is based on the specific identification method, and interest and dividends on securities are included in non-operating income. Marketable equity securities are carried at fair value, with gains and losses in fair market value included in the determination of net income. The fair value of marketable equity securities is determined based on quoted market prices in active markets, as described in Note J. The following table sets forth market value, cost, and unrealized gains on equity securities as of June 30, 2022 and December 31, 2021.
|  | June 30, 2022 |  |  | December 31, 2021 |
|  | (in thousands) |
Fair market value |  | $ | 37,585 |  |  | $ | 39,424 |
Cost |  |  | 29,151 |  |  |  | 29,385 |
Unrealized gain |  | $ | 8,434 |  |  | $ | 10,039 |
The following table sets forth the gross unrealized gains and losses on the Company’s marketable securities as of June 30, 2022 and December 31, 2021.
|  | June 30, 2022 |  |  | December 31, 2021 |
|  | (in thousands) |
Gross unrealized gains |  | $ | 10,830 |  |  | $ | 12,458 |
Gross unrealized losses |  |  | 2,396 |  |  |  | 2,419 |
Net unrealized gain |  | $ | 8,434 |  |  | $ | 10,039 |
The following table shows the Company’s net realized gains during the three and six months ending on June 30, 2022 and 2021, respectively, on certain marketable equity securities.
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
|  | (in thousands) |
Sales proceeds |  | $ | - |  |  | $ | 760 |  |  | $ | - |  |  | $ | 1,421 |
Cost of securities sold |  |  | - |  |  |  | 418 |  |  |  | - |  |  |  | 540 |
Realized gain / (loss) |  | $ | - |  |  | $ | 342 |  |  | $ | - |  |  | $ | 881 |
For the quarter ended June 30, 2022, the Company recognized dividends received of approximately $357,000 in non-operating income in its condensed consolidated statements of operations. For the quarter ended June 30, 2021, the Company recognized dividends received of approximately $309,000 in non-operating income in its condensed consolidated statements of operations. For the six months ended June 30, 2022, the Company recognized dividends received of approximately $666,000 in non-operating income in its condensed consolidated statements of operations. For the six months ended June 30, 2021, the Company recognized dividends received of approximately $660,000 in non-operating income in its condensed consolidated statements of operations. The Company’s equity securities are periodically used as collateral against any outstanding margin account borrowings. As of June 30, 2022, and December 31, 2021, the Company had outstanding borrowings of approximately $640,000 and $1,214,000, respectively, under its margin account. Margin account borrowings are used for the purchase of marketable equity securities and as a source of short-term liquidity and are included in accrued expenses and other liabilities on our condensed consolidated balance sheets. Our marketable equity securities portfolio had a net unrealized pre-tax loss in market value of approximately $3,349,000 during the second quarter of 2022, and a net unrealized pre-tax gain in market value of approximately $1,632,000 during the second quarter of 2021, which were reported as non-operating income in its condensed consolidated statements of operations for the respective periods.

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2209399 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2324412 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI https://asc.fasb.org/topic&trid=2196928 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2176304 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 1403 -Paragraph (b) + Details
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