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10-Q Filing

TEXAS PACIFIC LAND TRUST CIK: 97517 Q2 2018
Filing Information
Form Type 10-Q
Accession Number 0000097517-18-000017
Period End Date 20180630
Filing Date 20180807
Fiscal Year 2018
Fiscal Period Q2
XBRL Instance tpl-20180630.xml
Filing Contents
Balance Sheet 54 line items
Line Item Tag Value Unit Period
Property, plant and equipment, net of accumulated depreciation of $1,270 and $463 as of June 30, 2018 and December 31, 2017, respectively AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $1.27M USD Point-in-time
Property, plant and equipment, net of accumulated depreciation of $1,270 and $463 as of June 30, 2018 and December 31, 2017, respectively AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $463.00K USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $50.10M USD Point-in-time
Number of counties with land surface rights NumberofCountieswithLandSurfaceRights 18.00 county 2 Qtrs
Number of counties with land surface rights NumberofCountieswithLandSurfaceRights 18.00 county Annual
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $79.58M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $85.89M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $49.42M USD Point-in-time
Accrued receivables OtherReceivables $17.77M USD Point-in-time
Accrued receivables OtherReceivables $35.66M USD Point-in-time
Other assets OtherAssets $1.06M USD Point-in-time
Other assets OtherAssets $849.00K USD Point-in-time
Prepaid income taxes PrepaidTaxes $1.20M USD Point-in-time
Prepaid income taxes PrepaidTaxes - USD Point-in-time
Property, plant and equipment, net of accumulated depreciation of $1,270 and $463 as of June 30, 2018 and December 31, 2017, respectively PropertyPlantAndEquipmentNet $19.52M USD Point-in-time
Property, plant and equipment, net of accumulated depreciation of $1,270 and $463 as of June 30, 2018 and December 31, 2017, respectively PropertyPlantAndEquipmentNet $50.27M USD Point-in-time
Certificates of proprietary interest, par value (in dollars per share) PreferredStockParOrStatedValuePerShare $100.00 USD Point-in-time
Certificates of proprietary interest, par value (in dollars per share) PreferredStockParOrStatedValuePerShare $100.00 USD Point-in-time
Real estate acquired RealEstateGrossAtCarryingValue $1.11M USD Point-in-time
Certificates of proprietary interest, outstanding (in shares) PreferredStockSharesOutstanding 0.00 shares Point-in-time
Real estate acquired RealEstateGrossAtCarryingValue $1.11M USD Point-in-time
Real estate acquired RealEstateGrossAtCarryingValue $3.78M USD Point-in-time
Certificates of proprietary interest, outstanding (in shares) PreferredStockSharesOutstanding 0.00 shares Point-in-time
Real estate acquired RealEstateGrossAtCarryingValue $1.11M USD Point-in-time
Sub-share certificates of proprietary interest, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.03 USD Point-in-time
Sub-share certificates of proprietary interest, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.03 USD Point-in-time
Sub-share certificates of proprietary interest, outstanding (in shares) CommonStockSharesOutstanding 7.82M shares Point-in-time
Sub-share certificates of proprietary interest, outstanding (in shares) CommonStockSharesOutstanding 7.79M shares Point-in-time
Total assets Assets $120.03M USD Point-in-time
Total assets Assets $176.67M USD Point-in-time
Accounts payable and accrued expenses AccountsPayableAndAccruedLiabilitiesCurrent $5.61M USD Point-in-time
Accounts payable and accrued expenses AccountsPayableAndAccruedLiabilitiesCurrent $9.59M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $851.00K USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $2.92M USD Point-in-time
Deferred taxes payable DeferredIncomeTaxLiabilitiesNet $114.00K USD Point-in-time
Deferred taxes payable DeferredIncomeTaxLiabilitiesNet $114.00K USD Point-in-time
Unearned revenue DeferredRevenueCurrent $11.31M USD Point-in-time
Unearned revenue DeferredRevenueCurrent $8.36M USD Point-in-time
Total liabilities Liabilities $14.94M USD Point-in-time
Total liabilities Liabilities $23.94M USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Certificates of Proprietary Interest, par value $100 each; none outstanding PreferredStockValue - USD Point-in-time
Certificates of Proprietary Interest, par value $100 each; none outstanding PreferredStockValue - USD Point-in-time
Sub-share Certificates in Certificates of Proprietary Interest, par value $.03 1/3 each; outstanding 7,792,537 and 7,821,599 Sub-share Certificates as of June 30, 2018 and December 31, 2017, respectively CommonStockValue - USD Point-in-time
Sub-share Certificates in Certificates of Proprietary Interest, par value $.03 1/3 each; outstanding 7,792,537 and 7,821,599 Sub-share Certificates as of June 30, 2018 and December 31, 2017, respectively CommonStockValue - USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-778.00K USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-804.00K USD Point-in-time
Net proceeds from all sources RetainedEarningsUnappropriated $153.51M USD Point-in-time
Net proceeds from all sources RetainedEarningsUnappropriated $105.90M USD Point-in-time
Total capital StockholdersEquity $152.73M USD Point-in-time
Total capital StockholdersEquity $105.10M USD Point-in-time
Total liabilities and capital LiabilitiesAndStockholdersEquity $176.67M USD Point-in-time
Total liabilities and capital LiabilitiesAndStockholdersEquity $120.03M USD Point-in-time
Income Statement 96 line items
Line Item Tag Value Unit Period
Oil and gas royalties RoyaltyRevenue $56.83M USD 2 Qtrs
Oil and gas royalties RoyaltyRevenue $30.28M USD 1 Quarter
Oil and gas royalties RoyaltyRevenue $12.18M USD 1 Quarter
Oil and gas royalties RoyaltyRevenue $22.77M USD 2 Qtrs
Easements and sundry income EasementsandSundryIncome $44.78M USD 2 Qtrs
Easements and sundry income EasementsandSundryIncome $12.93M USD 1 Quarter
Easements and sundry income EasementsandSundryIncome $27.79M USD 2 Qtrs
Easements and sundry income EasementsandSundryIncome $27.80M USD 1 Quarter
Water sales and royalties WaterSalesAndRoyalties $29.25M USD 2 Qtrs
Water sales and royalties WaterSalesAndRoyalties $6.84M USD 1 Quarter
Water sales and royalties WaterSalesAndRoyalties $11.67M USD 2 Qtrs
Water sales and royalties WaterSalesAndRoyalties $15.64M USD 1 Quarter
Land sales LandSales $2.75M USD 2 Qtrs
Land sales LandSales $220.00K USD 1 Quarter
Land sales LandSales $220.00K USD 2 Qtrs
Land sales LandSales - USD 1 Quarter
Other operating income OtherOperatingIncome $249.00K USD 2 Qtrs
Other operating income OtherOperatingIncome $125.00K USD 1 Quarter
Other operating income OtherOperatingIncome $249.00K USD 2 Qtrs
Other operating income OtherOperatingIncome $124.00K USD 1 Quarter
Total income Revenues $133.85M USD 2 Qtrs
Total income Revenues $73.84M USD 1 Quarter
Total income Revenues $62.70M USD 2 Qtrs
Total income Revenues $32.29M USD 1 Quarter
Salaries and related employee benefits LaborAndRelatedExpense $580.00K USD 1 Quarter
Salaries and related employee benefits LaborAndRelatedExpense $966.00K USD 2 Qtrs
Salaries and related employee benefits LaborAndRelatedExpense $5.84M USD 2 Qtrs
Salaries and related employee benefits LaborAndRelatedExpense $3.56M USD 1 Quarter
Water service-related expenses WaterProductionCosts $10.00K USD 1 Quarter
Water service-related expenses WaterProductionCosts $3.89M USD 2 Qtrs
Water service-related expenses WaterProductionCosts $2.59M USD 1 Quarter
Water service-related expenses WaterProductionCosts $10.00K USD 2 Qtrs
General and administrative expenses GeneralAndAdministrativeExpense $611.00K USD 2 Qtrs
General and administrative expenses GeneralAndAdministrativeExpense $1.18M USD 1 Quarter
General and administrative expenses GeneralAndAdministrativeExpense $271.00K USD 1 Quarter
General and administrative expenses GeneralAndAdministrativeExpense $1.99M USD 2 Qtrs
Legal and professional fees ProfessionalFees $1.07M USD 2 Qtrs
Legal and professional fees ProfessionalFees $904.00K USD 1 Quarter
Legal and professional fees ProfessionalFees $1.62M USD 2 Qtrs
Legal and professional fees ProfessionalFees $420.00K USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $104.00K USD 2 Qtrs
Depreciation and amortization DepreciationDepletionAndAmortization $483.00K USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $85.00K USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $813.00K USD 2 Qtrs
Taxes, other than income taxes TaxesExcludingIncomeAndExciseTaxes $113.00K USD 1 Quarter
Taxes, other than income taxes TaxesExcludingIncomeAndExciseTaxes $257.00K USD 2 Qtrs
Taxes, other than income taxes TaxesExcludingIncomeAndExciseTaxes $62.00K USD 1 Quarter
Taxes, other than income taxes TaxesExcludingIncomeAndExciseTaxes $117.00K USD 2 Qtrs
Trustees compensation TrusteeFees $4.00K USD 2 Qtrs
Trustees compensation TrusteeFees $2.00K USD 1 Quarter
Trustees compensation TrusteeFees $4.00K USD 2 Qtrs
Trustees compensation TrusteeFees $2.00K USD 1 Quarter
Total expenses OperatingExpenses $1.91M USD 1 Quarter
Total expenses OperatingExpenses $13.87M USD 2 Qtrs
Total expenses OperatingExpenses $3.43M USD 2 Qtrs
Total expenses OperatingExpenses $8.34M USD 1 Quarter
Operating income OperatingIncomeLoss $30.38M USD 1 Quarter
Operating income OperatingIncomeLoss $119.99M USD 2 Qtrs
Operating income OperatingIncomeLoss $59.27M USD 2 Qtrs
Operating income OperatingIncomeLoss $65.50M USD 1 Quarter
Other income NonoperatingIncomeExpense $160.00K USD 1 Quarter
Other income NonoperatingIncomeExpense $13.00K USD 2 Qtrs
Other income NonoperatingIncomeExpense $290.00K USD 2 Qtrs
Other income NonoperatingIncomeExpense $6.00K USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $59.28M USD 2 Qtrs
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $30.39M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $65.67M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $120.28M USD 2 Qtrs
Income taxes IncomeTaxExpenseBenefit $13.16M USD 1 Quarter
Income taxes IncomeTaxExpenseBenefit $19.67M USD 2 Qtrs
Income taxes IncomeTaxExpenseBenefit $10.04M USD 1 Quarter
Income taxes IncomeTaxExpenseBenefit $23.98M USD 2 Qtrs
Net income NetIncomeLoss $20.35M USD 1 Quarter
Net income NetIncomeLoss $39.61M USD 2 Qtrs
Net income NetIncomeLoss $52.50M USD 1 Quarter
Net income NetIncomeLoss $96.29M USD 2 Qtrs
Other comprehensive income periodic pension costs, net of income taxes of $3, $9, $7, and $19, respectively OtherComprehensiveIncomeLossNetOfTax $26.00K USD 2 Qtrs
Other comprehensive income periodic pension costs, net of income taxes of $3, $9, $7, and $19, respectively OtherComprehensiveIncomeLossNetOfTax $17.00K USD 1 Quarter
Other comprehensive income periodic pension costs, net of income taxes of $3, $9, $7, and $19, respectively OtherComprehensiveIncomeLossNetOfTax $13.00K USD 1 Quarter
Other comprehensive income periodic pension costs, net of income taxes of $3, $9, $7, and $19, respectively OtherComprehensiveIncomeLossNetOfTax $35.00K USD 2 Qtrs
Total comprehensive income ComprehensiveIncomeNetOfTax $20.37M USD 1 Quarter
Total comprehensive income ComprehensiveIncomeNetOfTax $96.32M USD 2 Qtrs
Total comprehensive income ComprehensiveIncomeNetOfTax $52.52M USD 1 Quarter
Total comprehensive income ComprehensiveIncomeNetOfTax $39.64M USD 2 Qtrs
Weighted average number of Sub-share Certificates outstanding (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 7.88M shares 1 Quarter
Weighted average number of Sub-share Certificates outstanding (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 7.81M shares 2 Qtrs
Weighted average number of Sub-share Certificates outstanding (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 7.89M shares 2 Qtrs
Weighted average number of Sub-share Certificates outstanding (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 7.80M shares 1 Quarter
Net income per Sub-share Certificate basic and diluted (in usd per share) EarningsPerShareBasicAndDiluted $6.73 USD 1 Quarter
Net income per Sub-share Certificate basic and diluted (in usd per share) EarningsPerShareBasicAndDiluted $12.33 USD 2 Qtrs
Net income per Sub-share Certificate basic and diluted (in usd per share) EarningsPerShareBasicAndDiluted $2.58 USD 1 Quarter
Net income per Sub-share Certificate basic and diluted (in usd per share) EarningsPerShareBasicAndDiluted $5.02 USD 2 Qtrs
Cash dividends per Sub-share Certificate (in usd per share) CommonStockDividendsPerShareCashPaid $4.05 USD 2 Qtrs
Cash dividends per Sub-share Certificate (in usd per share) CommonStockDividendsPerShareCashPaid - USD 1 Quarter
Cash dividends per Sub-share Certificate (in usd per share) CommonStockDividendsPerShareCashPaid $1.35 USD 2 Qtrs
Cash dividends per Sub-share Certificate (in usd per share) CommonStockDividendsPerShareCashPaid - USD 1 Quarter
Cash Flow Statement 50 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $20.35M USD 1 Quarter
Net income NetIncomeLoss $39.61M USD 2 Qtrs
Net income NetIncomeLoss $52.50M USD 1 Quarter
Net income NetIncomeLoss $96.29M USD 2 Qtrs
Deferred taxes IncreaseDecreaseInDeferredIncomeTaxes - USD 2 Qtrs
Deferred taxes IncreaseDecreaseInDeferredIncomeTaxes $259.00K USD 2 Qtrs
Depreciation and amortization DepreciationDepletionAndAmortization $104.00K USD 2 Qtrs
Depreciation and amortization DepreciationDepletionAndAmortization $483.00K USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $85.00K USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $813.00K USD 2 Qtrs
Gain on disposal of fixed assets GainLossOnSaleOfPropertyPlantEquipment - USD 2 Qtrs
Gain on disposal of fixed assets GainLossOnSaleOfPropertyPlantEquipment $4.00K USD 2 Qtrs
Accrued receivables and other assets IncreaseDecreaseInReceivables $18.11M USD 2 Qtrs
Accrued receivables and other assets IncreaseDecreaseInReceivables $5.78M USD 2 Qtrs
Prepaid income taxes IncreaseDecreaseInPrepaidTaxes - USD 2 Qtrs
Prepaid income taxes IncreaseDecreaseInPrepaidTaxes $-1.20M USD 2 Qtrs
Accounts payable, accrued expenses and other liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $6.96M USD 2 Qtrs
Accounts payable, accrued expenses and other liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $2.04M USD 2 Qtrs
Income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $2.07M USD 2 Qtrs
Income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $-751.00K USD 2 Qtrs
Cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $89.23M USD 2 Qtrs
Cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $34.96M USD 2 Qtrs
Proceeds from sale of fixed assets ProceedsFromSaleOfPropertyPlantAndEquipment - USD 2 Qtrs
Proceeds from sale of fixed assets ProceedsFromSaleOfPropertyPlantAndEquipment $28.00K USD 2 Qtrs
Acquisition of land PaymentsToAcquireLand $2.66M USD 2 Qtrs
Acquisition of land PaymentsToAcquireLand - USD 2 Qtrs
Purchase of fixed assets PaymentsToAcquirePropertyPlantAndEquipment $31.56M USD 2 Qtrs
Purchase of fixed assets PaymentsToAcquirePropertyPlantAndEquipment $1.70M USD 1 Quarter
Purchase of fixed assets PaymentsToAcquirePropertyPlantAndEquipment $3.61M USD 2 Qtrs
Purchase of fixed assets PaymentsToAcquirePropertyPlantAndEquipment $19.72M USD 1 Quarter
Cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-3.58M USD 2 Qtrs
Cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-34.23M USD 2 Qtrs
Purchase of Sub-share Certificates in Certificates of Proprietary Interest PaymentsForRepurchaseOfCommonStock $20.01M USD 2 Qtrs
Purchase of Sub-share Certificates in Certificates of Proprietary Interest PaymentsForRepurchaseOfCommonStock $17.04M USD 2 Qtrs
Dividends paid PaymentsOfDividends $10.68M USD 2 Qtrs
Dividends paid PaymentsOfDividends $31.65M USD 2 Qtrs
Cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-30.70M USD 2 Qtrs
Cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-48.69M USD 2 Qtrs
Net increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $6.32M USD 2 Qtrs
Net increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $685.00K USD 2 Qtrs
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $50.10M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $79.58M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $85.89M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $49.42M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $50.10M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $79.58M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $85.89M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $49.42M USD Point-in-time
Income taxes paid IncomeTaxesPaidNet $21.95M USD 2 Qtrs
Income taxes paid IncomeTaxesPaidNet $20.70M USD 2 Qtrs
Comprehensive Income 4 line items
Line Item Tag Value Unit Period
Other comprehensive income, tax OtherComprehensiveIncomeLossTaxPortionAttributableToParent1 $7.00K USD 2 Qtrs
Other comprehensive income, tax OtherComprehensiveIncomeLossTaxPortionAttributableToParent1 $3.00K USD 1 Quarter
Other comprehensive income, tax OtherComprehensiveIncomeLossTaxPortionAttributableToParent1 $19.00K USD 2 Qtrs
Other comprehensive income, tax OtherComprehensiveIncomeLossTaxPortionAttributableToParent1 $9.00K USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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