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Note 4 - Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2021

Notes Tables

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

		Six Months Ended				Year Ended
		June 30,				December 31,
		2021				2020
Identifiable Assets, net of accumulated depreciation
Timber		$	2,210,626			$	2,196,942
General corporate assets			14,664,529				14,119,755
Total			16,875,155				16,316,697
Capital expenditures:
Timber			14,114				9,321
Surface			-				-
General corporate assets			-				-
Total segment costs and expenses		$	14,114			$	9,321
Depreciation and depletion
Oil and gas			-				-
Timber			430				974
General corporate assets			1,010				2,303
Total		$	1,440			$	3,277

		Three Months Ended June 30,								Six Months Ended June 30,
		2021				2020				2021				2020
Revenues:
Oil and gas		$	99,202			$	67,929			$	149,347			$	182,979
Timber sales			49,414				3,747				102,941				11,635
Surface revenue			62,690				117,021				113,894				174,474
Total segment revenues			211,306				188,697				366,182				369,088
Cost and expenses:
Oil and gas costs			9,445				11,072				17,666				22,809
Timber costs			4,255				754				5,213				3,205
Surface costs			-				258				-				258
Total segment costs and expenses			13,700				12,084				22,879				26,272
Net income from operations:
Oil and gas			89,757				56,857				131,681				160,170
Timber			45,159				2,993				97,728				8,430
Surface			62,690				116,763				113,894				174,216
Total segment net income from operations			197,606				176,613				343,303				342,816
Unallocated other income (expense) before income taxes			40,013				57,860				347,309				(34,513	)
Income before income taxes		$	237,619			$	234,473			$	690,612			$	308,303

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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
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-Name Accounting Standards Codification
-Topic 280
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

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- References

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