Basis of presentation and summary of significant accounting policies	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of presentation and summary of significant accounting policies	2. Basis of presentation and summary of significant accounting policies: Principles of consolidation: The accompanying condensed consolidated financial statements include the accounts and transactions of the Company. All significant intercompany accounts and transactions have been eliminated in consolidation. The accompanying condensed consolidated balance sheet as of December 31, 2022 has been derived from audited financial statements. 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 accounting principles generally accepted in the United States (“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 for the year ended December 31, 2022. 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, 2023 and the results of operations for the three and nine months ended September 30, 2023 and 2022, and cash flows for the nine months ended September 30, 2023 and 2022. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. 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 financial statements. Estimates also affect the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates. 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. Fair value of financial instruments: The Company believes that the fair values of its financial instruments, including cash and cash equivalents, investments, receivables and payables, approximate their respective book values because of their short-term nature. The fair values described herein were determined using quoted prices in an active market (Level 1) and significant other observable inputs (Level 2) as defined by GAAP. Reclassification of Prior Period Presentation: General and administrative expenses for the three and nine months ended September 30, 2022 have been reduced by $75,000 and $145,000, respectively to reclassify costs associated with the litigation of the cost sharing provision of the Terminal Sales Agreement (Note 8) to loss from sale of discontinued operations. This change results in reporting of a loss from sale of discontinued operations of $55,000 and $106,000 for the three and nine months ended September 30, 2022, respectively, which amounts are net of an income tax benefit of $20,000 and $39,000 for the same periods presented. The change also increased net cash provided by operating activities and cash used in investing activities by $106,000 for the nine months ended September 30, 2022.

CAPITAL PROPERTIES INC /RI/ 10-Q