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Note 6 - Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2021

Notes Tables

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

		Years Ended December 31,
		2021				2020
Identifiable Assets, net of accumulated depreciation
Timber		$	2,214,985			$	2,196,942
General corporate assets			14,840,102				14,119,755
Total		$	17,055,087			$	16,316,697
Capital expenditures:
Timber		$	18,606			$	9,321
Surface			4,063				-
General corporate assets			-				-
Total segment costs and expenses		$	22,669			$	9,321
Depreciation and depletion
Oil and gas		$	-			$	-
Timber			563				974
General corporate assets			2,027				2,303
Total		$	2,590			$	3,277

		Years Ended December 31,
		2021				2020
Revenues:
Oil and gas		$	364,907			$	257,247
Timber sales			151,102				134,720
Surface revenue			228,536				279,977
Total segment revenues		$	744,545			$	671,944
Cost and expenses:
Oil and gas costs		$	41,685			$	29,379
Timber costs			11,684				9,409
Surface costs			-				1,154
Total segment costs and expenses		$	53,369			$	39,942
Net income from operations:
Oil and gas		$	323,222			$	227,868
Timber			139,418				125,311
Surface			228,536				278,823
Total segment net income from operations		$	691,176			$	632,002
Unallocated other income (expense) before income taxes			392,143				(193,778	)
Income before income taxes		$	1,083,319			$	438,224

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
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-Publisher FASB
-Name Accounting Standards Codification
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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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