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Note 4 - Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2021

Notes Tables

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

		Nine Months Ended				Year Ended
		September 30,				December 31,
		2021				2020
Identifiable Assets, net of accumulated depreciation
Timber		$	2,214,057			$	2,196,942
General corporate assets			14,874,074				14,119,755
Total			17,088,131				16,316,697
Capital expenditures:
Timber			17,650				9,321
Surface			4,063				-
General corporate assets			-				-
Total segment costs and expenses		$	21,713			$	9,321
Depreciation and depletion
Oil and gas			-				-
Timber			534				974
General corporate assets			1,517				2,303
Total		$	2,051			$	3,277

		Three Months Ended September 30,								Nine Months Ended September 30,
		2021				2020				2021				2020
Revenues:
Oil and gas		$	108,208			$	50,811			$	257,555			$	233,789
Timber sales			11,936				59,416				114,877				71,052
Surface revenue			53,402				50,615				167,297				225,089
Total segment revenues			173,546				160,842				539,729				529,930
Cost and expenses:
Oil and gas costs			12,264				5,226				29,930				28,034
Timber costs			3,255				666				8,468				3,870
Surface costs			-				198				-				456
Total segment costs and expenses			15,519				6,090				38,398				32,360
Net income from operations:
Oil and gas			95,944				45,585				227,625				205,755
Timber			8,681				58,750				106,409				67,182
Surface			53,402				50,417				167,297				224,633
Total segment net income from operations			158,027				154,752				501,331				497,570
Unallocated other income (expense) before income taxes			123,295				(74,507	)			470,602				(109,022	)
Income before income taxes		$	281,322			$	80,245			$	971,933			$	388,548

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
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-Section 50
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