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Note 7 - Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2020

Notes Tables

Schedule of Segment Reporting Information, by Segment [Table Text Block]

		Years Ended December 31,
		2020				2019
Identifiable Assets, net of accumulated depreciation
Timber		$	2,196,942			$	2,188,594
General corporate assets			14,119,755				13,673,936
Total			16,316,697				15,862,530
Capital expenditures:
Timber			9,321				26,815
Surface			-				-
General corporate assets			-				-
Total segment costs and expenses		$	9,321			$	26,815
Depreciation and depletion
Oil and gas			-				-
Timber			974				611
General corporate assets			2,303				1,751
Total		$	3,277			$	2,362

		Years Ended December 31,
		2020				2019
Revenues:
Oil and gas		$	257,247			$	500,426
Timber sales			134,720				72,847
Surface revenue			279,977				237,998
Total segment revenues			671,944				811,271
Cost and expenses:
Oil and gas costs			29,379				57,454
Timber costs			9,409				21,144
Surface costs			1,154				1,274
Total segment costs and expenses			39,942				79,872
Net income from operations:
Oil and gas			227,868				442,972
Timber			125,311				51,703
Surface			278,823				236,724
Total segment net income from operations			632,002				731,399
Unallocated other income (expense) before income taxes			(193,778	)			(430,211	)
Income before income taxes		$	438,224			$	301,188

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Publisher FASB
-Name Accounting Standards Codification
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
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