Texas pacific land trust (TPL)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11
Cash flows from operating activities:
Net income

57,401

69,122

60,022

49,586

139,998

62,680

50,762

52,503

43,791

24,620

33,002

20,350

19,259

15,942

8,929

10,123

7,280

8,995

11,461

7,416

22,166

8,234

9,366

9,914

7,249

7,519

9,431

6,130

4,137

4,113

4,311

5,284

5,938

6,560

5,258

5,415

3,359

Adjustments to reconcile net income to net cash provided by operating activities:
Deferred taxes

55

-5,831

-4,818

5,725

-21,000

-14,789

0

0

0

-1,437

78

2,665

-2,406

1,285

-6

-4

-10

-107

238

5

-6

352

121

781

125

-698

935

259

104

467

168

-56

99

163

1,771

-1,092

487

Depreciation, depletion and amortization

3,335

3,620

2,631

1,451

1,204

1,064

706

483

330

63

209

85

19

24

5

5

7

11

4

4

4

2

5

6

5

2

4

5

4

6

3

3

3

3

3

3

3

(Gain) loss on disposal of fixed assets

-

-

-

-

-

-

-

-

-

-

0

0

4

0

0

0

-8

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities:
Operating assets, excluding income taxes

5,377

-

-

-

19,331

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating assets, excluding income taxes

-

-

-

-

-

-

10,597

8,007

10,102

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Prepaid income taxes

0

0

0

0

-9,398

9,398

0

0

-1,202

1,202

0

0

0

-

-

-

-

-0

0

0

-815

-

-

-

-

0

0

0

-416

-

-

-

-

-

-

-

-

Operating liabilities, excluding income taxes

3,909

-

-

-

4,579

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating liabilities, excluding income taxes

-

-

-

-

-

-

597

7,130

-172

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued receivables and other assets

-

-

-

-

-

-

-

-

-

-5,014

11,264

2,018

3,758

-439

812

1,885

462

-233

-126

834

89

-1,486

74

-228

951

601

-129

270

497

227

262

86

-669

234

611

-12

-196

Income taxes payable

9,426

907

-2,965

569

5,153

-1,452

137

-7,551

9,622

-6,235

6,000

-6,367

5,616

1,950

-721

-3,232

3,319

-2,240

523

-8,835

10,780

-710

-711

-2,034

3,508

-2,892

2,717

-1,115

1,403

59

52

-3,073

1,821

615

224

-1,627

2,018

Notes receivable for land sales

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-16

-23

-4

0

-711

-53

-18

-0

-363

-2,234

-366

-344

-3,056

-750

-332

-1,296

-515

134

-306

-538

-5,259

379

1,428

Accounts payable, accrued expenses and other liabilities

-

-

-

-

-

-

-

-

-

-129

3,028

1,193

846

-7,803

4,312

2,289

1,111

1,154

136

277

-1,838

1,853

399

265

34

-272

47

176

-296

200

123

151

-70

-72

-120

-62

232

Cash provided by operating activities

68,639

58,567

64,252

57,970

162,001

64,614

41,605

44,558

44,671

27,971

30,897

10,578

24,384

10,815

11,534

7,328

11,278

6,901

12,725

-1,923

31,863

9,699

9,227

9,837

10,088

4,797

14,451

5,420

5,395

5,049

4,195

2,097

8,568

7,282

6,253

4,035

6,359

Cash flows from investing activities:
Proceeds from sale of fixed assets

0

0

87

0

30

0

25

0

0

-1

0

0

28

0

0

0

18

0

0

0

25

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of land

3,890

-

-

-

47,189

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of land

-

-

-

-

-

-

0

1,912

751

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of royalty interests

16,936

0

0

1,599

3,418

24,303

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of fixed assets

3,617

4,630

4,979

13,353

9,247

7,872

8,442

19,723

11,841

10,777

4,360

1,698

1,912

608

110

108

149

109

73

0

38

1

2

48

0

-

-

-

-

4

0

20

24

-

-

-

-

Cash used in investing activities

-24,443

-4,803

-4,892

-42,173

-59,824

-38,889

-8,417

-21,635

-12,592

-10,778

-4,360

-1,698

-1,884

-608

-110

-108

-131

-109

-73

0

-13

-1

-2

-27

-0

-

-

-

-

-4

0

-7

-24

-

-

-

-

Cash flows from financing activities:
Purchase of Sub-share Certificates in Certificates of Proprietary Interest

0

0

0

0

4,353

12,896

8,466

10,326

6,709

7,109

7,144

11,342

8,672

6,285

11,544

8,323

6,931

7,950

36,351

-8,870

-6,660

36,920

-7,238

-3,939

-2,779

-

-

-

-

-

-

-

-4,823

-

-

-4,053

-3,382

Dividends paid

124,098

0

0

0

46,546

0

0

0

31,652

0

0

-1

10,682

-0

0

0

2,507

0

0

0

2,402

0

0

0

2,280

-18,056

8,122

6,056

3,876

-10,157

4,466

7,894

2,091

0

0

0

2,000

Cash used in financing activities

-124,098

0

0

0

-50,899

-12,896

-8,466

-10,326

-38,361

-7,109

-7,144

-11,341

-19,354

-6,285

-11,544

-8,323

-9,438

-7,950

-5,288

-8,870

-9,063

-9,006

-7,238

-3,939

-5,059

-7,160

-8,122

-6,056

-3,876

-7,934

-4,466

-5,162

-6,915

-4,561

-4,033

-4,053

-5,382

Net (decrease) increase in cash, cash equivalents and restricted cash

-79,902

53,764

59,360

15,797

51,278

12,829

24,722

12,597

-6,282

10,084

19,393

-2,461

3,146

3,921

-119

-1,104

1,707

-1,158

7,363

-10,794

22,786

690

1,986

5,869

5,028

-2,382

6,328

-650

1,518

-2,889

-270

-3,072

1,628

2,717

2,220

-34

976

Supplemental disclosure of cash flow information:
Income taxes paid

4,600

13,102

12,886

18,451

0

11,625

12,300

21,951

0

17,900

10,400

19,077

1,625

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Supplemental non-cash investing information:
Operating lease right-of-use assets

0

-

-

-

3,712

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-