Texas Pacific Land Trust TPL Income Statement

Texas pacific land trust (TPL)

Income statement / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
Revenues:
Revenues:
Total revenues
395,766	490,496	470,365	445,003	431,537	300,220	246,976	225,785	184,234	154,634	138,437	100,726	84,623	66,109	57,063	60,976	56,574	79,415	77,991	74,564	78,356	55,202	54,411	54,592	48,963	44,109	38,880	30,985	29,736	32,587	36,549	38,066	38,159	34,300	26,951	24,870	0	0	0
Interest income from notes receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	402	484	573	630	671	706	734	765	813	879	957	1,020	0	0	0
Other income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	497	512	513	525	541	584	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Expenses:
Salaries and related employee expenses
39,197	35,041	30,727	26,240	22,334	18,433	12,585	9,206	5,951	3,774	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Water service-related expenses
23,010	20,808	18,990	17,575	14,440	11,168	7,881	4,375	1,797	491	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
General and administrative expenses
10,582	9,765	8,922	7,248	6,166	4,704	3,284	2,605	1,863	1,523	-70	94	521	931	1,209	1,124	929	788	0	0	0	-	-	-	-	589	739	674	684	601	461	503	524	571	2,124	2,352	0	0	0
Legal and professional fees
16,978	16,403	16,074	11,072	3,634	2,498	2,516	2,971	3,455	3,523	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation, depletion and amortization
11,037	8,906	6,350	4,425	3,457	2,583	1,582	1,085	687	376	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Taxes, other than income taxes
-	-	-	-	-	-	-	-	-	-	723	1,155	1,487	-	1,633	1,499	1,447	1,477	1,465	1,536	1,641	1,692	1,763	1,669	1,605	1,420	1,197	1,103	939	941	925	922	937	922	891	837	0	0	0
Trustees compensation
-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total operating expenses
100,804	90,923	81,063	66,560	50,031	39,386	27,659	20,121	13,696	9,687	5,938	4,440	3,619	3,198	4,737	4,517	4,270	4,159	3,877	3,802	3,826	3,785	4,049	4,003	4,037	3,978	3,678	3,518	3,365	3,284	3,455	3,494	3,530	3,563	3,016	3,190	0	0	0
Operating income
294,962	399,573	389,302	378,443	381,506	260,834	219,317	205,664	170,538	144,947	132,499	96,285	81,004	62,911	52,325	56,459	52,303	75,256	74,113	70,761	74,529	51,417	50,362	50,589	44,926	40,130	35,202	27,466	26,371	29,303	33,093	34,572	34,629	30,737	23,935	21,680	0	0	0
Other income
3,115	2,682	2,161	1,456	1,179	916	609	391	237	114	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest income earned from investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	25	24	26	27	25	21	17	14	13	12	12	12	13	15	17	19	20	19	19	18	21	23	0	0	0
Income before income taxes
298,077	402,255	391,463	379,899	382,685	261,750	219,926	206,055	170,775	145,061	132,496	96,272	80,990	62,896	52,350	56,484	52,329	75,283	74,138	70,783	74,547	51,431	50,376	50,601	44,938	40,142	35,215	27,481	26,388	29,322	33,114	34,592	34,648	30,755	23,957	21,703	0	0	0
Income tax expense (benefit):
Income tax expense:
Current
56,966	57,492	44,269	46,784	40,928	37,200	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	17,641	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred
4,980	26,035	34,908	30,089	35,814	14,814	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total income tax expense
62,027	83,527	79,129	76,825	76,694	52,014	48,250	52,139	49,012	47,830	43,943	31,791	26,736	20,621	17,022	18,624	17,176	25,244	24,860	23,600	24,866	16,666	16,327	16,487	14,607	12,924	11,402	8,788	8,540	9,675	11,019	11,550	11,475	10,161	7,695	6,894	0	0	0
Net income
236,131	318,728	312,286	303,026	305,943	209,736	171,676	153,916	121,763	97,231	88,553	64,480	54,253	42,275	35,328	37,860	35,152	50,039	49,278	47,183	49,681	34,765	34,049	34,114	30,330	27,218	23,813	18,693	17,847	19,647	22,094	23,042	23,173	20,594	16,262	14,809	0	0	0
Other comprehensive income — periodic pension costs, net of income taxes of $4 and $2, respectively
-379	-383	-106	-102	-98	-94	144	148	152	156	271	277	283	289	100	101	102	104	-684	-699	-715	-730	302	312	322	331	-99	-106	-112	-119	-294	-295	-316	-318	0	0	0	-	-
Total comprehensive income
235,752	318,345	312,180	302,924	305,845	209,642	171,820	154,064	121,915	97,387	88,824	64,758	54,537	42,564	35,428	37,961	35,255	50,143	48,594	46,483	48,965	34,034	34,351	34,426	30,652	27,550	23,713	18,587	17,734	19,528	21,780	22,726	22,856	20,276	0	0	0	-	-
Weighted average number of Sub-share Certificates outstanding (in shares)
7,756	7,753	7,756	7,756	7,759	7,741	7,786	7,803	7,818	7,765	7,851	7,882	7,919	7,824	7,984	8,048	8,098	-	8,190	8,244	8,297	-	8,406	8,439	8,451	-	8,602	8,686	8,755	-	8,940	9,025	9,122	-	9,340	9,432	9,518	9,681	9,767
Net income per Sub-share Certificate — basic and diluted (in dollars per share)
7.40	8.92	7.74	6.39	18.04	8.08	6.52	6.73	5.60	3.17	4.20	2.58	2.43	2.01	1.12	1.26	0.90	1.13	1.40	0.90	2.67	1.00	1.11	1.17	0.86	0.88	1.10	0.71	0.47	0.48	0.48	0.59	0.65	0.72	0.56	0.58	0.35	0.23	0.39
Cash dividends per Sub-share Certificate (in dollars per share)
16.00	-	0.00	0.00	6.00	-	0.00	0.00	4.05	-	0.00	0.00	1.35	-	0.00	0.00	0.31	-	0.00	0.00	0.29	-	0.00	0.00	0.27	-	-	-	-	-	0.00	0.00	0.23	-	0.00	0.00	0.21	-	-
Oil and gas royalties
Total revenues
163,876	154,729	146,869	139,863	130,500	123,834	103,244	92,472	74,377	58,418	50,704	38,678	33,362	28,385	27,506	25,112	23,945	24,860	20,547	22,194	24,358	29,346	25,917	27,817	29,546	24,496	21,373	18,622	15,308	14,670	18,417	16,948	15,555	14,685	18,846	18,090	0	0	0
Easements and other surface-related income
Total revenues
110,262	115,362	109,529	97,686	103,128	88,739	85,555	86,941	72,068	69,957	59,204	38,679	34,952	26,156	0	0	0	-	0	0	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Water sales and royalties
Total revenues
88,933	84,949	81,552	78,076	73,289	63,913	53,380	43,119	34,315	25,536	21,856	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Land sales
Total revenues
32,295	135,020	113,094	110,016	105,242	4,367	4,293	2,750	2,970	220	2,593	3,079	2,859	2,945	871	2,275	2,435	22,617	22,639	22,421	0	-	0	0	-	6,413	5,533	331	2,355	5,809	10,534	13,490	14,928	11,873	8,715	0	0	-	0
Other operating revenue
Total revenues
400	436	446	487	503	492	504	503	504	503	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-