Capital Properties (CPTP) 10-Q 8 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	9 Months Ended
	Sep. 30, 2016shares
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Trading Symbol	CPTP
Entity Registrant Name	CAPITAL PROPERTIES INC /RI/
Entity Central Index Key	202,947
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding	6,599,912

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Sep. 30, 2016	Dec. 31, 2015
ASSETS
Properties and equipment (net of accumulated depreciation)	$ 19,343,000	$ 19,833,000
Cash	2,971,000	2,225,000
Income taxes receivable	92,000
Prepaid and other	517,000	623,000
Total assets	22,923,000	22,681,000
Liabilities:
Dividend notes payable	10,608,000	11,787,000
Accounts payable and accrued expenses:
Property taxes	295,000	282,000
Environmental remediation	77,000	79,000
Other	453,000	501,000
Income taxes payable		66,000
Deferred income taxes, net	4,597,000	4,720,000
Total liabilities	16,030,000	17,435,000
Shareholders' equity:
Common stock	66,000	66,000
Capital in excess of par	782,000	782,000
Retained earnings	6,045,000	4,398,000
Total shareholders' equity	6,893,000	5,246,000
Total liabilities and shareholders' equity	$ 22,923,000	$ 22,681,000

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	10,000,000	10,000,000
Common stock, shares issued	6,599,912	6,599,912
Common stock, shares outstanding	6,599,912	6,599,912

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Revenues:
Leasing	$ 1,242,000	$ 1,249,000	$ 3,860,000	$ 3,763,000
Petroleum storage facility	892,000	883,000	2,664,000	2,638,000
Total revenues	2,134,000	2,132,000	6,524,000	6,401,000
Expenses:
Leasing	193,000	207,000	622,000	653,000
Petroleum storage facility	648,000	561,000	1,814,000	1,865,000
General and administrative	294,000	255,000	941,000	828,000
Interest on notes:
Bank loan		14,000		62,000
Dividend notes	132,000	147,000	445,000	442,000
Total expenses	1,267,000	1,184,000	3,822,000	3,850,000
Income before income taxes	867,000	948,000	2,702,000	2,551,000
Income tax expense (benefit):
Current	343,000	345,000	1,178,000	1,145,000
Deferred	(5,000)	27,000	(123,000)	(144,000)
Total Income tax expense	338,000	372,000	1,055,000	1,001,000
Net income	$ 529,000	$ 576,000	$ 1,647,000	$ 1,550,000
Basic income per common share based upon 6,599,912 shares outstanding	$ 0.08	$ 0.08	$ 0.25	$ 0.23

Consolidated Statements of Inc5

Consolidated Statements of Income (Unaudited) (Parenthetical) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Statement [Abstract]
Basic income per common share, shares outstanding	6,599,912	6,599,912	6,599,912	6,599,912

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flows from operating activities:
Net income	$ 1,647,000	$ 1,550,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	507,000	606,000
Amortization of deferred costs	28,000	33,000
Deferred income taxes	(123,000)	(144,000)
Other, principally net changes in prepaids, accounts payable, accrued expenses and current income taxes	(117,000)	(131,000)
Net cash provided by operating activities	1,942,000	1,914,000
Cash flows from investing activities:
Purchases of properties and equipment	(17,000)	(349,000)
Cash flows from financing activities:
Partial redemption of dividend notes payable	(1,179,000)
Principal payments on note payable, bank		(2,214,000)
Cash used in financing activities	(1,179,000)	(2,214,000)
Increase (decrease) in cash	746,000	(649,000)
Cash, beginning	2,225,000	2,927,000
Cash, ending	2,971,000	2,278,000
Cash paid for:
Income taxes	1,336,000	1,158,000
Interest	$ 295,000	$ 350,000

Description of business

Description of business	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of business	1. Description of business: Capital Properties, Inc. and its wholly-owned subsidiaries, Tri-State Displays, Inc., Capital Terminal Company and Dunellen, LLC (collectively referred to as “the Company”), operate in two segments, leasing and petroleum storage. The leasing segment consists of the long-term leasing of certain of its real estate interests in downtown Providence, Rhode Island (upon the commencement of which the tenants are required to construct buildings thereon, with the exception of a parking garage and Parcels 6B and 6C), the leasing of a portion of its building (“Steeple Street Building”) under short-term leasing arrangements and the leasing of locations along interstate and primary highways in Rhode Island and Massachusetts to Lamar Outdoor Advertising, LLC (“Lamar”) which has constructed outdoor advertising boards thereon. The Company anticipates that the future development of its remaining properties in and adjacent to the Capital Center area will consist primarily of long-term ground leases. Pending this development, the Company leases these parcels for public parking under short-term leasing arrangements to Metropark, Ltd. (“Metropark”). The petroleum storage segment consists of operating the petroleum storage terminal (the “Terminal”) containing 1,004,000 shell barrels and the Wilkesbarre Pier (the “Pier”), both of which are owned by the Company and are collectively referred to as the “Facility,” located in East Providence, Rhode Island for Sprague Operating Resources LLC (“Sprague”), a wholly-owned subsidiary of Sprague Resources LP, which stores and distributes petroleum products. The principal difference between the two segments relates to the nature of the operations. In the leasing segment, the tenants under long-term land leases incur substantially all of the development and operating costs of the assets constructed on the Company’s land, including the payment of real property taxes on both the land and any improvements constructed thereon. In the petroleum storage segment, the Company is responsible for the operating and maintenance expenditures and real estate taxes up to $290,000, as well as capital improvements at the Facility.

Principles of consolidation and

Principles of consolidation and basis of presentation	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Principles of consolidation and basis of presentation	2. Principles of consolidation and basis of presentation: The accompanying condensed consolidated financial statements include the accounts and transactions of the Company and its subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. The accompanying condensed consolidated balance sheet as of December 31, 2015, has been derived from audited financial statements and the unaudited interim condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and note disclosures normally included in annual financial statements prepared in accordance with United States generally accepted accounting principles (“GAAP”) have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading. It is suggested that these condensed consolidated financial statements be read in conjunction with the consolidated financial statements and the notes thereto included in the Company’s latest Form 10-K. In the opinion of management, the accompanying condensed consolidated financial statements contain all adjustments (consisting solely of normal recurring adjustments) necessary to present fairly the financial position as of September 30, 2016, the results of operations for the three and nine months ended September 30, 2016 and 2015, and the cash flows for the nine months ended September 30, 2016 and 2015. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Environmental incidents: The Company accrues a liability when an environmental incident has occurred and the costs are estimable. The Company does not record a receivable for recoveries from third parties for environmental matters until it has determined that the amount of the collection is reasonably assured. The accrued liability is relieved when the Company pays the liability or a third party assumes the liability. Upon determination that collection is reasonably assured or a third party assumes the liability, the Company records the amount as a reduction of expense. The Company charges to expense those costs that do not extend the life, increase the capacity or improve the safety or efficiency of the property owned or used by the Company. New accounting standards: The Company reviews new accounting standards as issued. Although some of these accounting standards may be applicable to the Company, the Company expects that none of the new standards will have a significant impact on its consolidated financial statements.

Use of estimates

Use of estimates	9 Months Ended
	Sep. 30, 2016
Text Block [Abstract]
Use of estimates	3. Use of estimates: The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements. Estimates also affect the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates.

Properties and equipment

Properties and equipment	9 Months Ended
	Sep. 30, 2016
Property, Plant and Equipment [Abstract]
Properties and equipment	4. Properties and equipment: Properties and equipment consists of the following: September 30, December 31, 2016 2015 Properties on lease or held for lease: Land and land improvements $ 4,701,000 $ 4,701,000 Building and improvements, Steeple Street 5,820,000 5,808,000 10,521,000 10,509,000 Petroleum storage facility, on lease: Land and land improvements 6,081,000 6,076,000 Buildings and structures 1,867,000 1,867,000 Tanks and equipment 14,770,000 14,770,000 22,718,000 22,713,000 Office equipment 112,000 112,000 33,351,000 33,334,000 Less accumulated depreciation: Properties on lease or held for lease 1,365,000 1,214,000 Petroleum storage facility, on lease 12,550,000 12,199,000 Office equipment 93,000 88,000 14,008,000 13,501,000 $ 19,343,000 $ 19,833,000

Notes payable

Notes payable	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Notes payable	5. Notes payable: Dividend notes: In 2012, the Company issued $11,787,000 in principal face amount of 5% dividend notes due December 26, 2022 (the “Dividend Notes”). The Dividend Notes are unsecured general obligations of the Company bearing interest at the annual rate of 5% payable semi-annually on June 15 and December 15 to note holders of record on June 1 and December 1 of each year. The Dividend Notes may be redeemed in whole or in part at any time and from time to time at the option of the Company. The Dividend Notes are subject to mandatory redemption in an amount equal to the Net Proceeds from the sale of any real property owned by the Company or any of its subsidiaries. Net Proceeds is defined as the gross cash received by the Company from any such sale reduced by the sum of (a) costs relating to the sale, (b) federal and state income taxes as a result of the sale, and (c) the amount used by the Company to pay in whole or in part financial institution debts secured by a mortgage of the Company’s or any subsidiary’s real property regardless of whether such mortgage encumbers the property sold. The Company has obligated itself not to grant any mortgages on any of its property located in the Capital Center District in Providence, Rhode Island, and to cause its subsidiaries not to grant any such mortgages, in each case without the consent of the holders of two-thirds of the outstanding principal face amount of the Dividend Notes. The Dividend Notes contain other customary terms and conditions. On June 15, 2016, the Company redeemed 10 percent of the face value of its outstanding Dividend Notes ($1,179,000) to note holders of record on June 2, 2016. At September 30, 2016, the remaining balance is $10,608,000.

Description of leasing arrangem

Description of leasing arrangements	9 Months Ended
	Sep. 30, 2016
Leases [Abstract]
Description of leasing arrangements	6. Description of leasing arrangements Long-term land leases: As of September 30, 2016, the Company had entered into nine long-term land leases. Of the nine parcels, seven have had improvements constructed thereon. Under the nine land leases, the tenants are required to negotiate any tax stabilization treaties or other arrangements, appeal any changes in real property assessments, and pay real property taxes assessed on land and improvements under these arrangements. Accordingly, real property taxes payable by the tenants are excluded from leasing revenues and leasing expenses on the accompanying consolidated statements of income. Real property taxes attributable to the Company’s land under these leases totaled $305,000 and $910,000, respectively, for the three and nine months ended September 30, 2016, and $308,000 and $923,000, respectively, for the three and nine months ended September 30, 2015. With respect to the Parcel 6B and 6C leases, each lessee has the right to terminate its lease at any time during the remaining term of that lease upon thirty days’ notice. To date, no notice of termination has been received by the Company. The current annual rent on Parcel 6B and 6C are $195,000 and $200,000, respectively. Lamar lease: The Company, through a wholly-owned subsidiary, leases 23 outdoor advertising locations containing 44 billboard faces along interstate and primary highways in Rhode Island and Massachusetts to Lamar under a lease which expires in 2045. The Lamar lease provides, among other things, for the following: (1) the base rent will increase annually at the rate of 2.75% for each leased billboard location on June 1 of each year, and (2) in addition to base rent, for each 12-month period commencing each June 1, Lamar must pay to the Company within thirty days after the close of the lease year 30% of the gross revenues from each standard billboard and 20% of the gross revenues from each electronic billboard for such 12-month period, reduced by the sum of (a) commissions paid to third parties and (b) base monthly rent for each leased billboard display for each 12-month period. For the lease years ended May 31, 2016 and 2015, the percentage rent totaled $118,000 and $155,000, respectively, which amounts are included in leasing revenues on the accompanying consolidated statements of income for the nine months ended September 30, 2016 and 2015. Short-term leases: The Company leases the undeveloped parcels of land in or adjacent to the Capital Center area for public parking purposes to Metropark under a short-term cancellable lease. At September 30, 2016, the Company has three tenants occupying 54 percent of the Steeple Street Building under short-term leases of five years or less at a current annual rental of $125,000. The Company is recognizing the revenue from these leases on a straight-line basis over the terms of the leases. At September 30, 2016, there was no excess of straight-line over contractual rentals; at December 31, 2015, the excess of straight-line over contractual rentals was $1,000, which is included in prepaid and other on the accompanying consolidated balance sheet. The Company also reports as revenue from tenants reimbursements for common area costs and real property taxes. The Company is currently marketing the remaining portions of the building for lease.

Petroleum storage facility and

Petroleum storage facility and environmental incidents	9 Months Ended
	Sep. 30, 2016
Text Block [Abstract]
Petroleum storage facility and environmental incidents	7. Petroleum storage facility and environmental incidents: Leasing of the Facility: On May 1, 2014, the Company entered into a Petroleum Storage Services Agreement (“the Agreement”) with Sprague Operating Resources, LLC (“Sprague”) for the lease of its entire storage capacity of 1,004,000 barrels for a term of five years. The base rent is $3,500,000, subject to annual cost-of-living adjustments on May 1 of each year. On May 1, 2016, the annual rent increased $39,000. There was no change in the base rent on May 1, 2015 because the cost-of-living decreased from May 1, 2014. In addition, the Company will receive an additional $.15 for each barrel of throughput at the facility in excess of 3,500,000 barrels in any contract year (May 1 to April 30). The total throughput for the years ended April 30, 2016 and 2015 did not exceed 3,500,000 barrels. Sprague had the right to extend the Agreement for two additional terms of five years each, provided that Sprague gives at least twelve months’ notice prior to the expiration of the initial or the extension term, as applicable. Commencing April 1, 2016 and on each April 1 thereafter during the initial term and any extension term, either party during the following thirty days had the right to terminate the Agreement as of April 30 of the year next following the year in which notice of termination is given. On April 28, 2016, the Company received notice from Sprague that, effective April 30, 2017, Sprague is terminating the Agreement. The Company is reviewing its options for the petroleum storage facility upon termination of the Sprague lease. Commencing May 1, 2015, Sprague is obligated to reimburse the Company for any real property taxes in excess of $290,000. For the year 2016, there was an increase in the assessment but a decrease in the tax rate, resulting in no additional payment being due from Sprague. For the year 2015, there was no increase in the assessment or tax rate and therefore no additional payment was due from Sprague. The Company incurred $108,000 in fees in connection with the execution of the Agreement, which amounts are being amortized on the straight-line method over the three-year non-cancellable portion of the term of the Agreement and are included in petroleum storage facility expenses on the accompanying consolidated statements of income for the three and nine months ended September 30, 2016 and 2015. At September 30, 2016 and December 31, 2015, unamortized deferred agreement costs were $20,000 and $48,000, respectively, which are included in prepaid and other on the accompanying consolidated balance sheets. Wilkesbarre Pier: The Pier is a deep-water pier in East Providence, Rhode Island owned by the Company which is integral to the operation of the Terminal. The Pier and the Terminal are connected by two petroleum pipelines which the Company has a permanent right to use. Environmental incident (2002): In 2002, during testing of monitoring wells at the Terminal, the Company’s consulting engineer discovered free floating phase product in a groundwater monitoring well located on that portion of the Terminal purchased in 2000. Laboratory analysis indicated that the product was gasoline, which is not a product the Company ever stored at the Terminal. The Company commenced an environmental investigation and analysis, the results of which indicate that the gasoline did not come from the Terminal. The Company notified the Rhode Island Department of Environmental Management (“RIDEM”). RIDEM subsequently identified Power Test Realty Partnership (“Power Test”), the owner of an adjacent parcel, as a potentially responsible party for the contamination. Getty Properties Corp. is the general partner of Power Test. Power Test challenged that determination and, after an administrative hearing, in October 2008 a RIDEM Hearing Officer determined that Power Test is responsible for the discharge of the petroleum product under the Rhode Island Oil Pollution Control Act, R.I.G.L. Section 46-12.5.1-3 and Rule 6(a) and 12(b) of the Oil Pollution Control Regulations. The RIDEM Decision and Order requires Power Test to remediate the contamination as directed by RIDEM. In November 2008, Power Test appealed the decision. In March 2016, the Rhode Island Supreme Court affirmed the RIDEM decision. In April 2009, the Company sued Power Test and Getty Properties Corp. in the Rhode Island Superior Court seeking remediation of the site or, in the alternative, the cost of the remediation. On May 1, 2009, Power Test and Getty Properties Corp. removed the action to the United States District Court for the District of Rhode Island (“the Court”). On May 22, 2009, Power Test and Getty Properties Corp. answered the Complaint and filed a Counterclaim against Dunellen, LLC and Capital Terminal Company alleging that Dunellen, LLC and Capital Terminal Company are responsible for the contamination. Getty Properties Corp. and Power Test joined Getty Petroleum Marketing, Inc., the tenant under a long-term lease with Getty Properties Corp. of the adjacent property, as a defendant. The Company amended its Complaint to add Getty Petroleum Marketing, Inc. as a defendant. Getty Petroleum Marketing, Inc. moved for summary judgment against the Company, Getty Properties Corp. and Power Test. On December 5, 2011, Getty Petroleum Marketing, Inc. filed for bankruptcy under Chapter 11 of the United States Bankruptcy Act. Thereafter, with Bankruptcy Court approval, Getty Petroleum Marketing, Inc. rejected its lease with Getty Properties Corp. On August 24, 2012, the Bankruptcy Court approved a plan to liquidate Getty Petroleum Marketing, Inc. On January 15, 2013, the Court granted Getty Petroleum Marketing, Inc.’s motion for summary judgment against the Company, Getty Properties Corp. and Power Test, dismissing the Company’s third-party complaint. The parties agreed to stay the litigation pending a determination by the Rhode Island Supreme Court on the Power Test appeal. On September 12, 2016, the parties entered into a Tolling Agreement under which the statute of limitations is tolled to not later than sixty days following implementation by Power Test of the RIDEM approved remediation plan. On September 19, 2016, the parties dismissed the litigation without prejudice. Since January 2003, the Company has not incurred significant costs in connection with this matter, other than ongoing litigation costs, and is unable to determine the costs it might incur to remedy the situation, as well as any costs to investigate, defend and seek reimbursement from the responsible party with respect to this contamination. Environmental remediation (1994): In 1994, a leak was discovered in a 25,000 barrel storage tank at the Terminal which allowed the escape of a small amount of fuel oil. All required notices were made to RIDEM. In 2000, the tank was demolished and testing of the groundwater indicated that there was no large pooling of contaminants. In 2001, RIDEM approved a plan pursuant to which the Company installed a passive system consisting of three wells and commenced monitoring the wells. In 2003, RIDEM decided that the passive monitoring system previously approved was not sufficient and required the Company to design an active remediation system for the removal of product from the contaminated site. The Company and its consulting engineers began the pre-design testing of the site in the fourth quarter of 2004. The consulting engineers estimated a total cost of $200,000 to design, install and operate the system, which amount was accrued in 2004. Through 2006, the Company had expended $119,000 and has not incurred any significant costs since then. In 2011, RIDEM notified the company to proceed with the next phase of the approval process, notifying the abutters of the proposed remediation system even though RIDEM has not yet taken any action on the Company’s proposed plan. As designed, the system will pump out the contaminants which will be disposed of in compliance with applicable regulations. After a period of time, the groundwater will be tested to determine if sufficient contaminants have been removed. In 2014, the Company engaged new consultants to work with RIDEM to develop the next phase of the approval process. While the Company and its consulting engineers believe that the proposed active remediation system will correct the situation, it is possible that RIDEM could require the Company to expand remediation efforts, which could result in the Company incurring costs in excess of the remaining accrual of $77,000.

Income taxes

Income taxes	9 Months Ended
	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Income taxes	8. Income taxes: Deferred income taxes are recorded based upon differences between financial statement and tax basis amounts of assets and liabilities. The tax effects of temporary differences which give rise to deferred tax assets and liabilities were as follows: September 30, December 31, 2016 2015 Gross deferred tax liabilities: Property having a financial statement basis in excess of tax basis $ 4,633,000 $ 4,725,000 Insurance premiums and accrued leasing revenues 92,000 137,000 4,725,000 4,862,000 Deferred tax assets (128,000 ) (142,000 ) $ 4,597,000 $ 4,720,000

Operating segment disclosures

Operating segment disclosures	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Operating segment disclosures	9. Operating segment disclosures: The Company operates in two segments, leasing and petroleum storage. The Company makes decisions relative to the allocation of resources and evaluates performance based on each segment’s respective income before income taxes, excluding interest expense and certain corporate expenses. Inter-segment revenues are immaterial in amount. The following financial information is used for making operating decisions and assessing performance of each of the Company’s segments for the three and nine months ended September 30, 2016 and 2015: Three Months Ended Nine Months Ended September 30 September 30 2016 2015 2016 2015 Leasing: Revenues: Long-term land leases: Contractual $ 1,003,000 $ 993,000 $ 2,996,000 $ 2,868,000 Contingent 25,000 32,000 194,000 232,000 Short-term leases 214,000 224,000 670,000 663,000 Total revenues $ 1,242,000 $ 1,249,000 $ 3,860,000 $ 3,763,000 Property tax expense $ 112,000 $ 106,000 $ 336,000 $ 316,000 Depreciation $ 42,000 $ 44,000 $ 151,000 $ 151,000 Income before income taxes $ 1,049,000 $ 1,042,000 $ 3,238,000 $ 3,110,000 Assets $ 9,656,000 $ 9,670,000 $ 9,656,000 $ 9,670,000 Properties and equipment, additions $ — $ 6,000 $ 12,000 $ 263,000 Petroleum storage: Revenues, contractual $ 892,000 $ 883,000 $ 2,664,000 $ 2,638,000 Property tax expense $ 73,000 $ 73,000 $ 214,000 $ 217,000 Depreciation $ 116,000 $ 124,000 $ 351,000 $ 450,000 Income (loss) before income taxes $ 244,000 $ 322,000 $ 850,000 $ 773,000 Assets $ 11,214,000 $ 11,071,000 $ 11,214,000 $ 11,071,000 Properties and equipment, additions $ — $ 15,000 $ 5,000 $ 86,000 The following is a reconciliation of the segment information to the amounts reported in the accompanying consolidated financial statements for the three and nine months ended September 30, 2016 and 2015: Three Months Ended Nine Months Ended September 30 September 30 2016 2015 2016 2015 Revenues for operating segments: Leasing $ 1,242,000 $ 1,249,000 $ 3,860,000 $ 3,763,000 Petroleum storage 892,000 883,000 2,664,000 2,638,000 Total consolidated revenues $ 2,134,000 $ 2,132,000 $ 6,524,000 $ 6,401,000 Property tax expense: Property tax expense for operating segments: Leasing $ 112,000 $ 106,000 $ 336,000 $ 316,000 Petroleum storage 73,000 73,000 214,000 217,000 185,000 179,000 550,000 533,000 Unallocated corporate property tax expense — — 2,000 2,000 Total consolidated property tax expense $ 185,000 $ 179,000 $ 552,000 $ 535,000 Depreciation: Depreciation for operating segments: Leasing $ 42,000 $ 44,000 $ 151,000 $ 151,000 Petroleum storage segment: 116,000 124,000 351,000 450,000 158,000 168,000 502,000 601,000 Unallocated corporate depreciation 2,000 2,000 5,000 5,000 Total consolidated depreciation $ 160,000 $ 170,000 $ 507,000 $ 606,000 Income before income taxes: Income before income taxes for operating segments: Leasing $ 1,049,000 $ 1,042,000 $ 3,238,000 $ 3,110,000 Petroleum storage 244,000 322,000 850,000 773,000 1,293,000 1,364,000 4,088,000 3,883,000 Unallocated corporate expenses (294,000 ) (255,000 ) (941,000 ) (828,000 ) Interest expense (132,000 ) (161,000 ) (445,000 ) (504,000 ) Total consolidated income before income taxes $ 867,000 $ 948,000 $ 2,702,000 $ 2,551,000 Assets: Assets for operating segments: Leasing $ 9,656,000 $ 9,670,000 $ 9,656,000 $ 9,670,000 Petroleum storage 11,214,000 11,071,000 11,214,000 11,071,000 20,870,000 20,741,000 20,870,000 20,741,000 Corporate cash 1,942,000 1,885,000 1,942,000 1,885,000 Other unallocated amounts 111,000 27,000 111,000 27,000 Total consolidated assets $ 22,923,000 $ 22,653,000 $ 22,923,000 $ 22,653,000 Properties and equipment: Additions to properties and equipment for operating segments: Leasing $ — $ 6,000 $ 12,000 $ 263,000 Petroleum storage — 15,000 5,000 86,000 Total consolidated additions $ — $ 21,000 $ 17,000 $ 349,000

Fair value of financial instrum

Fair value of financial instruments	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Fair value of financial instruments	10. Fair value of financial instruments: The Company believes that the fair values of its financial instruments, including cash, receivables and payables, approximate their respective book values because of their short-term nature. Upon review of current market conditions and other factors, the Company believes that the fair value of the dividend notes payable approximates their book value. The fair values described herein were determined using significant other observable inputs (Level 2) as defined by GAAP.

Principles of consolidation a17

Principles of consolidation and basis of presentation (Policies)	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Environmental incidents	Environmental incidents: The Company accrues a liability when an environmental incident has occurred and the costs are estimable. The Company does not record a receivable for recoveries from third parties for environmental matters until it has determined that the amount of the collection is reasonably assured. The accrued liability is relieved when the Company pays the liability or a third party assumes the liability. Upon determination that collection is reasonably assured or a third party assumes the liability, the Company records the amount as a reduction of expense. The Company charges to expense those costs that do not extend the life, increase the capacity or improve the safety or efficiency of the property owned or used by the Company.
New accounting standards	New accounting standards: The Company reviews new accounting standards as issued. Although some of these accounting standards may be applicable to the Company, the Company expects that none of the new standards will have a significant impact on its consolidated financial statements.
Use of estimates	The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements. Estimates also affect the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates.
Fair value of financial instruments	The Company believes that the fair values of its financial instruments, including cash, receivables and payables, approximate their respective book values because of their short-term nature. Upon review of current market conditions and other factors, the Company believes that the fair value of the dividend notes payable approximates their book value. The fair values described herein were determined using significant other observable inputs (Level 2) as defined by GAAP.

Properties and equipment (Table

Properties and equipment (Tables)	9 Months Ended
	Sep. 30, 2016
Property, Plant and Equipment [Abstract]
Properties and Equipment	Properties and equipment consists of the following: September 30, December 31, 2016 2015 Properties on lease or held for lease: Land and land improvements $ 4,701,000 $ 4,701,000 Building and improvements, Steeple Street 5,820,000 5,808,000 10,521,000 10,509,000 Petroleum storage facility, on lease: Land and land improvements 6,081,000 6,076,000 Buildings and structures 1,867,000 1,867,000 Tanks and equipment 14,770,000 14,770,000 22,718,000 22,713,000 Office equipment 112,000 112,000 33,351,000 33,334,000 Less accumulated depreciation: Properties on lease or held for lease 1,365,000 1,214,000 Petroleum storage facility, on lease 12,550,000 12,199,000 Office equipment 93,000 88,000 14,008,000 13,501,000 $ 19,343,000 $ 19,833,000

Income taxes (Tables)

Income taxes (Tables)	9 Months Ended
	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Deferred Tax Assets and Liabilities	The tax effects of temporary differences which give rise to deferred tax assets and liabilities were as follows: September 30, December 31, 2016 2015 Gross deferred tax liabilities: Property having a financial statement basis in excess of tax basis $ 4,633,000 $ 4,725,000 Insurance premiums and accrued leasing revenues 92,000 137,000 4,725,000 4,862,000 Deferred tax assets (128,000 ) (142,000 ) $ 4,597,000 $ 4,720,000

Operating segment disclosures (

Operating segment disclosures (Tables)	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Financial Information Used for Making Operating Decisions and Assessing Performance	The following financial information is used for making operating decisions and assessing performance of each of the Company’s segments for the three and nine months ended September 30, 2016 and 2015: Three Months Ended Nine Months Ended September 30 September 30 2016 2015 2016 2015 Leasing: Revenues: Long-term land leases: Contractual $ 1,003,000 $ 993,000 $ 2,996,000 $ 2,868,000 Contingent 25,000 32,000 194,000 232,000 Short-term leases 214,000 224,000 670,000 663,000 Total revenues $ 1,242,000 $ 1,249,000 $ 3,860,000 $ 3,763,000 Property tax expense $ 112,000 $ 106,000 $ 336,000 $ 316,000 Depreciation $ 42,000 $ 44,000 $ 151,000 $ 151,000 Income before income taxes $ 1,049,000 $ 1,042,000 $ 3,238,000 $ 3,110,000 Assets $ 9,656,000 $ 9,670,000 $ 9,656,000 $ 9,670,000 Properties and equipment, additions $ — $ 6,000 $ 12,000 $ 263,000 Petroleum storage: Revenues, contractual $ 892,000 $ 883,000 $ 2,664,000 $ 2,638,000 Property tax expense $ 73,000 $ 73,000 $ 214,000 $ 217,000 Depreciation $ 116,000 $ 124,000 $ 351,000 $ 450,000 Income (loss) before income taxes $ 244,000 $ 322,000 $ 850,000 $ 773,000 Assets $ 11,214,000 $ 11,071,000 $ 11,214,000 $ 11,071,000 Properties and equipment, additions $ — $ 15,000 $ 5,000 $ 86,000
Reconciliation of Segment Information	The following is a reconciliation of the segment information to the amounts reported in the accompanying consolidated financial statements for the three and nine months ended September 30, 2016 and 2015: Three Months Ended Nine Months Ended September 30 September 30 2016 2015 2016 2015 Revenues for operating segments: Leasing $ 1,242,000 $ 1,249,000 $ 3,860,000 $ 3,763,000 Petroleum storage 892,000 883,000 2,664,000 2,638,000 Total consolidated revenues $ 2,134,000 $ 2,132,000 $ 6,524,000 $ 6,401,000 Property tax expense: Property tax expense for operating segments: Leasing $ 112,000 $ 106,000 $ 336,000 $ 316,000 Petroleum storage 73,000 73,000 214,000 217,000 185,000 179,000 550,000 533,000 Unallocated corporate property tax expense — — 2,000 2,000 Total consolidated property tax expense $ 185,000 $ 179,000 $ 552,000 $ 535,000 Depreciation: Depreciation for operating segments: Leasing $ 42,000 $ 44,000 $ 151,000 $ 151,000 Petroleum storage segment: 116,000 124,000 351,000 450,000 158,000 168,000 502,000 601,000 Unallocated corporate depreciation 2,000 2,000 5,000 5,000 Total consolidated depreciation $ 160,000 $ 170,000 $ 507,000 $ 606,000 Income before income taxes: Income before income taxes for operating segments: Leasing $ 1,049,000 $ 1,042,000 $ 3,238,000 $ 3,110,000 Petroleum storage 244,000 322,000 850,000 773,000 1,293,000 1,364,000 4,088,000 3,883,000 Unallocated corporate expenses (294,000 ) (255,000 ) (941,000 ) (828,000 ) Interest expense (132,000 ) (161,000 ) (445,000 ) (504,000 ) Total consolidated income before income taxes $ 867,000 $ 948,000 $ 2,702,000 $ 2,551,000 Assets: Assets for operating segments: Leasing $ 9,656,000 $ 9,670,000 $ 9,656,000 $ 9,670,000 Petroleum storage 11,214,000 11,071,000 11,214,000 11,071,000 20,870,000 20,741,000 20,870,000 20,741,000 Corporate cash 1,942,000 1,885,000 1,942,000 1,885,000 Other unallocated amounts 111,000 27,000 111,000 27,000 Total consolidated assets $ 22,923,000 $ 22,653,000 $ 22,923,000 $ 22,653,000 Properties and equipment: Additions to properties and equipment for operating segments: Leasing $ — $ 6,000 $ 12,000 $ 263,000 Petroleum storage — 15,000 5,000 86,000 Total consolidated additions $ — $ 21,000 $ 17,000 $ 349,000

Description of Business - Addit

Description of Business - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)BarrelsSegment	Sep. 30, 2015USD ($)
Description Of Business [Line Items]
Number of segments | Segment			2
Real estate taxes	$ 185,000	$ 179,000	$ 552,000	$ 535,000
Petroleum Storage [Member]
Description Of Business [Line Items]
Real estate taxes	$ 73,000	$ 73,000	214,000	$ 217,000
Petroleum Storage [Member] | Maximum [Member]
Description Of Business [Line Items]
Real estate taxes			$ 290,000
Facility [Member]
Description Of Business [Line Items]
Number of shell barrels at terminal | Barrels			1,004,000

Properties and Equipment - Prop

Properties and Equipment - Properties and Equipment (Detail) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Properties and equipment gross	$ 33,351,000	$ 33,334,000
Accumulated depreciation total	14,008,000	13,501,000
Properties and equipment net	19,343,000	19,833,000
Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Properties and equipment gross	112,000	112,000
Accumulated depreciation total	93,000	88,000
Properties on Lease or Held for Lease [Member]
Property, Plant and Equipment [Line Items]
Properties on lease or held for lease	10,521,000	10,509,000
Less accumulated depreciation:	1,365,000	1,214,000
Properties on Lease or Held for Lease [Member] | Land and Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Properties on lease or held for lease	4,701,000	4,701,000
Properties on Lease or Held for Lease [Member] | Building and Improvements, Steeple Street [Member]
Property, Plant and Equipment [Line Items]
Properties on lease or held for lease	5,820,000	5,808,000
Petroleum Storage Facility, on Lease [Member]
Property, Plant and Equipment [Line Items]
Properties on lease or held for lease	22,718,000	22,713,000
Less accumulated depreciation:	12,550,000	12,199,000
Petroleum Storage Facility, on Lease [Member] | Land and Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Properties on lease or held for lease	6,081,000	6,076,000
Petroleum Storage Facility, on Lease [Member] | Buildings and Structures [Member]
Property, Plant and Equipment [Line Items]
Properties on lease or held for lease	1,867,000	1,867,000
Petroleum Storage Facility, on Lease [Member] | Tanks and Equipment [Member]
Property, Plant and Equipment [Line Items]
Properties on lease or held for lease	$ 14,770,000	$ 14,770,000

Notes Payable - Additional Info

Notes Payable - Additional Information (Detail) - USD ($)	Jun. 15, 2016	Sep. 30, 2016	Dec. 31, 2012	Dec. 31, 2015
Debt Instrument [Line Items]
Consent of the dividend notes holders required for to grant any mortgages		67.00%
Dividend notes payable outstanding		$ (1,179,000)
Dividend notes payable		$ 10,608,000		$ 11,787,000
Dividend Notes [Member]
Debt Instrument [Line Items]
Dividend notes			$ 11,787,000
Dividend notes annual interest rate			5.00%
Maturity date of long term loan			Dec. 26, 2022
Dividend notes description		The Dividend Notes are unsecured general obligations of the Company bearing interest at the annual rate of 5% payable semi-annually on June 15 and December 15 to note holders of record on June 1 and December 1 of each year.
Dividend notes redemption price percentage	10.00%
Dividend notes payable outstanding		$ (1,179,000)
Dividend notes payable		$ 10,608,000

Description of Leasing Arrang24

Description of Leasing Arrangements - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)Billboard_FacesLandLeasesParcelsTenants	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)Billboard_FacesLandLeasesParcelsTenantsLocation	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Operating Leased Assets [Line Items]
Number of long-term land leases | LandLeases	9		9
Number of parcels upon which improvements have been completed | Parcels	7		7
Estimated real property taxes attributable to the company land	$ 305,000	$ 308,000	$ 910,000	$ 923,000
Lamar Lease [Member]
Operating Leased Assets [Line Items]
Number of advertising locations | Location			23
Number of billboard faces along interstate and primary highways leased | Billboard_Faces	44		44
Lease expiration year			2,045
Annual increment in base rent of lease, percentage			2.75%
Period for advance receipt of percentage of gross revenue on leases			12 months
Period to recognize specified lease revenue			30 days
Percentage of revenue due in proportion of gross revenues from each standard billboard			30.00%
Percentage of revenue due in proportion of gross revenues from each standard billboard			20.00%
Percentage rents			$ 118,000	$ 155,000
Parcel (6B) [Member]
Operating Leased Assets [Line Items]
Annual rent			195,000
Parcel (6C) [Member]
Operating Leased Assets [Line Items]
Annual rent			$ 200,000
Parcel (6B) and (6C) [Member]
Operating Leased Assets [Line Items]
Notice period of lease			30 days
Steeple Street Building [Member]
Operating Leased Assets [Line Items]
Annual rent			$ 125,000
Number of tenants occupying 54% of building | Tenants	3		3
Percentage of building occupied by three tenants	54.00%		54.00%
Term of short term leases			Five years or less
Short term leases rent receivable over contractual rent	$ 0		$ 0		$ 1,000

Petroleum Storage Facility an25

Petroleum Storage Facility and Environmental Incidents - Additional Information (Detail)	May 01, 2016USD ($)	Apr. 30, 2016bbl	Apr. 28, 2016	Apr. 30, 2015bbl	May 01, 2014USD ($)$ / bblTermsBarrelsbbl	Sep. 30, 2016USD ($)Pipelinebbl	Dec. 31, 2014USD ($)	Dec. 31, 2006USD ($)	Dec. 31, 2004USD ($)	Dec. 31, 2015USD ($)
Environmental Incident 1994 [Member]
Oil and Gas In Process Activities [Line Items]
Volume of storage tank with leakage at the Terminal | bbl						25,000
Estimated cost related to design install and operate the system									$ 200,000
Expense incurred related to design install and operate the system								$ 119,000
Remaining accrual for environmental remediation							$ 77,000
Wilkesbarre Pier [Member]
Oil and Gas In Process Activities [Line Items]
Number of petroleum pipelines connections between Pier and the Terminal | Pipeline						2
Sprague Operating Resources LLC [Member] | Petroleum Storage Services Agreement [Member]
Oil and Gas In Process Activities [Line Items]
Number of shell barrels at terminal | Barrels					1,004,000
Annual base rent					$ 3,500,000
Additional amount per barrel of Throughput Agreement | $ / bbl					0.15
Minimum barrel threshold in throughput agreement | bbl					3,500,000
Increase in annual base rent	$ 39,000
Agreement additional extended term | Terms					2
Agreement period					5 years
Notice period of lease					30 days
Notice prior to expiration of initial or extension term					12 months
Maximum barrel threshold in throughput agreement | bbl		3,500,000		3,500,000
Lease agreement termination date			Apr. 30, 2017
Real property taxes eligible for reimbursement in excess of minimum established amount						$ 290,000
Real Property Taxes Reimbursement Eligibility commencement date						May 1, 2015
Execution of petroleum storage services agreement fee						$ 108,000
Non-cancellable agreement term						3 years
Unamortized deferred agreement cost						$ 20,000				$ 48,000

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets and Liabilities (Detail) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Gross deferred tax liabilities:
Property having a financial statement basis in excess of tax basis	$ 4,633,000	$ 4,725,000
Insurance premiums and accrued leasing revenues	92,000	137,000
Gross deferred tax liabilities	4,725,000	4,862,000
Deferred tax assets	(128,000)	(142,000)
Deferred tax liabilities, net of deferred tax assets	$ 4,597,000	$ 4,720,000

Operating Segment Disclosures -

Operating Segment Disclosures - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2016Segment
Segment Reporting [Abstract]
Number of segments	2

Operating Segment Disclosures28

Operating Segment Disclosures - Financial Information Used for Making Operating Decisions and Assessing Performance (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Revenues:
Total revenues	$ 1,242,000	$ 1,249,000	$ 3,860,000	$ 3,763,000
Property tax expense	185,000	179,000	552,000	535,000
Depreciation	160,000	170,000	507,000	606,000
Income (loss) before income taxes	867,000	948,000	2,702,000	2,551,000
Assets	22,923,000	22,653,000	22,923,000	22,653,000	$ 22,681,000
Revenues, contractual	2,134,000	2,132,000	6,524,000	6,401,000
Leasing [Member]
Revenues:
Total revenues	1,242,000	1,249,000	3,860,000	3,763,000
Property tax expense	112,000	106,000	336,000	316,000
Depreciation	42,000	44,000	151,000	151,000
Income (loss) before income taxes	1,049,000	1,042,000	3,238,000	3,110,000
Assets	9,656,000	9,670,000	9,656,000	9,670,000
Properties and equipment, additions		6,000	12,000	263,000
Leasing [Member] | Long Term Land Leases [Member]
Revenues:
Contractual Leases	1,003,000	993,000	2,996,000	2,868,000
Contingent Leases	25,000	32,000	194,000	232,000
Leasing [Member] | Short Term Leases [Member]
Revenues:
Contractual Leases	214,000	224,000	670,000	663,000
Petroleum Storage [Member]
Revenues:
Property tax expense	73,000	73,000	214,000	217,000
Depreciation	116,000	124,000	351,000	450,000
Income (loss) before income taxes	244,000	322,000	850,000	773,000
Assets	11,214,000	11,071,000	11,214,000	11,071,000
Properties and equipment, additions		15,000	5,000	86,000
Petroleum Storage [Member] | Contractual [Member]
Revenues:
Revenues, contractual	$ 892,000	$ 883,000	$ 2,664,000	$ 2,638,000

Operating Segment Disclosures29

Operating Segment Disclosures - Reconciliation of Segment Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Revenues for operating segments:
Total consolidated revenues	$ 2,134,000	$ 2,132,000	$ 6,524,000	$ 6,401,000
Property tax expense for operating segments:
Total consolidated property tax expense	185,000	179,000	552,000	535,000
Depreciation for operating segments:
Total consolidated depreciation	160,000	170,000	507,000	606,000
Income before income taxes for operating segments:
Interest expense	(132,000)	(161,000)	(445,000)	(504,000)
Income (loss) before income taxes	867,000	948,000	2,702,000	2,551,000
Assets for operating segments:
Total assets for operating segments	22,923,000	22,653,000	22,923,000	22,653,000	$ 22,681,000
Operating Segments [Member]
Property tax expense for operating segments:
Total consolidated property tax expense	185,000	179,000	550,000	533,000
Depreciation for operating segments:
Total consolidated depreciation	158,000	168,000	502,000	601,000
Income before income taxes for operating segments:
Income (loss) before income taxes	1,293,000	1,364,000	4,088,000	3,883,000
Assets for operating segments:
Total assets for operating segments	20,870,000	20,741,000	20,870,000	20,741,000
Additions to properties and equipment for operating segments:
Total consolidated additions		21,000	17,000	349,000
Unallocated [Member]
Property tax expense for operating segments:
Total consolidated property tax expense			2,000	2,000
Depreciation for operating segments:
Total consolidated depreciation	2,000	2,000	5,000	5,000
Income before income taxes for operating segments:
Income (loss) before income taxes	(294,000)	(255,000)	(941,000)	(828,000)
Assets for operating segments:
Corporate cash	1,942,000	1,885,000	1,942,000	1,885,000
Other assets	111,000	27,000	111,000	27,000
Leasing [Member]
Property tax expense for operating segments:
Total consolidated property tax expense	112,000	106,000	336,000	316,000
Depreciation for operating segments:
Total consolidated depreciation	42,000	44,000	151,000	151,000
Income before income taxes for operating segments:
Income (loss) before income taxes	1,049,000	1,042,000	3,238,000	3,110,000
Assets for operating segments:
Total assets for operating segments	9,656,000	9,670,000	9,656,000	9,670,000
Additions to properties and equipment for operating segments:
Total consolidated additions		6,000	12,000	263,000
Leasing [Member] | Operating Segments [Member]
Revenues for operating segments:
Total consolidated revenues	1,242,000	1,249,000	3,860,000	3,763,000
Property tax expense for operating segments:
Total consolidated property tax expense	112,000	106,000	336,000	316,000
Depreciation for operating segments:
Total consolidated depreciation	42,000	44,000	151,000	151,000
Income before income taxes for operating segments:
Income (loss) before income taxes	1,049,000	1,042,000	3,238,000	3,110,000
Assets for operating segments:
Total assets for operating segments	9,656,000	9,670,000	9,656,000	9,670,000
Additions to properties and equipment for operating segments:
Total consolidated additions		6,000	12,000	263,000
Petroleum Storage [Member]
Property tax expense for operating segments:
Total consolidated property tax expense	73,000	73,000	214,000	217,000
Depreciation for operating segments:
Total consolidated depreciation	116,000	124,000	351,000	450,000
Income before income taxes for operating segments:
Income (loss) before income taxes	244,000	322,000	850,000	773,000
Assets for operating segments:
Total assets for operating segments	11,214,000	11,071,000	11,214,000	11,071,000
Additions to properties and equipment for operating segments:
Total consolidated additions		15,000	5,000	86,000
Petroleum Storage [Member] | Operating Segments [Member]
Revenues for operating segments:
Total consolidated revenues	892,000	883,000	2,664,000	2,638,000
Property tax expense for operating segments:
Total consolidated property tax expense	73,000	73,000	214,000	217,000
Depreciation for operating segments:
Total consolidated depreciation	116,000	124,000	351,000	450,000
Income before income taxes for operating segments:
Income (loss) before income taxes	244,000	322,000	850,000	773,000
Assets for operating segments:
Total assets for operating segments	$ 11,214,000	11,071,000	11,214,000	11,071,000
Additions to properties and equipment for operating segments:
Total consolidated additions		$ 15,000	$ 5,000	$ 86,000