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10-Q Filing

TEXAS PACIFIC LAND TRUST CIK: 97517 Q3 2018
Filing Information
Form Type 10-Q
Accession Number 0000097517-18-000025
Period End Date 20180930
Filing Date 20181107
Fiscal Year 2018
Fiscal Period Q3
XBRL Instance tpl-20180930.xml
Filing Contents
Balance Sheet 54 line items
Line Item Tag Value Unit Period
Property, plant and equipment, accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $463.00K USD Point-in-time
Property, plant and equipment, accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $1.95M USD Point-in-time
Number of counties with land surface rights NumberofCountieswithLandSurfaceRights 18.00 county 3 Qtrs
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $69.50M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $79.58M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $110.62M USD Point-in-time
Number of counties with land surface rights NumberofCountieswithLandSurfaceRights 18.00 county Annual
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $49.42M USD Point-in-time
Accrued receivables OtherReceivables $39.62M USD Point-in-time
Accrued receivables OtherReceivables $17.77M USD Point-in-time
Other assets OtherAssets $849.00K USD Point-in-time
Other assets OtherAssets $7.70M 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 $1,952 and $463 as of September 30, 2018 and December 31, 2017, respectively PropertyPlantAndEquipmentNet $19.52M USD Point-in-time
Certificates of proprietary interest, par value (in dollars per share) PreferredStockParOrStatedValuePerShare $100.00 USD Point-in-time
Property, plant and equipment, net of accumulated depreciation of $1,952 and $463 as of September 30, 2018 and December 31, 2017, respectively PropertyPlantAndEquipmentNet $57.99M 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, outstanding (in shares) PreferredStockSharesOutstanding 0.00 shares 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 $1.11M USD Point-in-time
Real estate acquired RealEstateGrossAtCarryingValue $3.78M USD 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 7.78M shares Point-in-time
Total assets Assets $219.70M USD Point-in-time
Total assets Assets $120.03M USD Point-in-time
Accounts payable and accrued expenses AccountsPayableAndAccruedLiabilitiesCurrent $8.88M USD Point-in-time
Accounts payable and accrued expenses AccountsPayableAndAccruedLiabilitiesCurrent $5.61M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $3.06M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $851.00K 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 ContractWithCustomerLiability $12.60M USD Point-in-time
Unearned revenue ContractWithCustomerLiability $8.36M USD Point-in-time
Total liabilities Liabilities $14.94M USD Point-in-time
Total liabilities Liabilities $24.66M 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 7,781,831 and 7,821,599 Sub-share Certificates as of September 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 7,781,831 and 7,821,599 Sub-share Certificates as of September 30, 2018 and December 31, 2017, respectively CommonStockValue - USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-804.00K USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-765.00K USD Point-in-time
Net proceeds from all sources RetainedEarningsUnappropriated $105.90M USD Point-in-time
Net proceeds from all sources RetainedEarningsUnappropriated $195.81M USD Point-in-time
Total capital StockholdersEquity $195.04M USD Point-in-time
Total capital StockholdersEquity $105.10M USD Point-in-time
Total liabilities and capital LiabilitiesAndStockholdersEquity $120.03M USD Point-in-time
Total liabilities and capital LiabilitiesAndStockholdersEquity $219.70M USD Point-in-time
Income Statement 96 line items
Line Item Tag Value Unit Period
Oil and gas royalties RoyaltyRevenue $88.08M USD 3 Qtrs
Oil and gas royalties RoyaltyRevenue $31.25M USD 1 Quarter
Oil and gas royalties RoyaltyRevenue $20.48M USD 1 Quarter
Oil and gas royalties RoyaltyRevenue $43.25M USD 3 Qtrs
Easements and sundry income EasementsandSundryIncome $66.84M USD 3 Qtrs
Easements and sundry income EasementsandSundryIncome $23.45M USD 1 Quarter
Easements and sundry income EasementsandSundryIncome $51.25M USD 3 Qtrs
Easements and sundry income EasementsandSundryIncome $22.07M USD 1 Quarter
Water sales and royalties WaterSalesAndRoyalties $19.58M USD 3 Qtrs
Water sales and royalties WaterSalesAndRoyalties $7.92M USD 1 Quarter
Water sales and royalties WaterSalesAndRoyalties $18.18M USD 1 Quarter
Water sales and royalties WaterSalesAndRoyalties $47.43M USD 3 Qtrs
Land sales LandSales $4.29M USD 3 Qtrs
Land sales LandSales $1.54M USD 1 Quarter
Land sales LandSales - USD 1 Quarter
Land sales LandSales $220.00K USD 3 Qtrs
Other operating income OtherOperatingIncome $374.00K USD 3 Qtrs
Other operating income OtherOperatingIncome $375.00K USD 3 Qtrs
Other operating income OtherOperatingIncome $126.00K USD 1 Quarter
Other operating income OtherOperatingIncome $125.00K USD 1 Quarter
Total income Revenues $73.17M USD 1 Quarter
Total income Revenues $207.02M USD 3 Qtrs
Total income Revenues $51.98M USD 1 Quarter
Total income Revenues $114.68M USD 3 Qtrs
Salaries and related employee benefits LaborAndRelatedExpense $671.00K USD 1 Quarter
Salaries and related employee benefits LaborAndRelatedExpense $1.64M USD 3 Qtrs
Salaries and related employee benefits LaborAndRelatedExpense $3.70M USD 1 Quarter
Salaries and related employee benefits LaborAndRelatedExpense $9.55M USD 3 Qtrs
Water service-related expenses WaterProductionCosts $7.60M USD 3 Qtrs
Water service-related expenses WaterProductionCosts $3.71M USD 1 Quarter
Water service-related expenses WaterProductionCosts $211.00K USD 3 Qtrs
Water service-related expenses WaterProductionCosts $201.00K USD 1 Quarter
General and administrative expenses GeneralAndAdministrativeExpense $1.12M USD 3 Qtrs
General and administrative expenses GeneralAndAdministrativeExpense $511.00K USD 1 Quarter
General and administrative expenses GeneralAndAdministrativeExpense $3.39M USD 3 Qtrs
General and administrative expenses GeneralAndAdministrativeExpense $1.41M USD 1 Quarter
Legal and professional fees ProfessionalFees $1.01M USD 1 Quarter
Legal and professional fees ProfessionalFees $1.62M USD 3 Qtrs
Legal and professional fees ProfessionalFees $2.63M USD 3 Qtrs
Legal and professional fees ProfessionalFees $556.00K USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $1.52M USD 3 Qtrs
Depreciation and amortization DepreciationDepletionAndAmortization $209.00K USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $313.00K USD 3 Qtrs
Depreciation and amortization DepreciationDepletionAndAmortization $706.00K USD 1 Quarter
Taxes, other than income taxes TaxesExcludingIncomeAndExciseTaxes $66.00K USD 1 Quarter
Taxes, other than income taxes TaxesExcludingIncomeAndExciseTaxes $183.00K USD 3 Qtrs
Taxes, other than income taxes TaxesExcludingIncomeAndExciseTaxes $130.00K USD 1 Quarter
Taxes, other than income taxes TaxesExcludingIncomeAndExciseTaxes $387.00K USD 3 Qtrs
Trustees compensation TrusteeFees $6.00K USD 3 Qtrs
Trustees compensation TrusteeFees $2.00K USD 1 Quarter
Trustees compensation TrusteeFees $2.00K USD 1 Quarter
Trustees compensation TrusteeFees $6.00K USD 3 Qtrs
Total expenses OperatingExpenses $10.21M USD 1 Quarter
Total expenses OperatingExpenses $24.07M USD 3 Qtrs
Total expenses OperatingExpenses $2.67M USD 1 Quarter
Total expenses OperatingExpenses $6.10M USD 3 Qtrs
Operating income OperatingIncomeLoss $62.96M USD 1 Quarter
Operating income OperatingIncomeLoss $182.94M USD 3 Qtrs
Operating income OperatingIncomeLoss $108.58M USD 3 Qtrs
Operating income OperatingIncomeLoss $49.31M USD 1 Quarter
Other income NonoperatingIncomeExpense $18.00K USD 1 Quarter
Other income NonoperatingIncomeExpense $526.00K USD 3 Qtrs
Other income NonoperatingIncomeExpense $31.00K USD 3 Qtrs
Other income NonoperatingIncomeExpense $236.00K USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $108.61M USD 3 Qtrs
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $49.32M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $183.47M USD 3 Qtrs
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $63.20M USD 1 Quarter
Income taxes IncomeTaxExpenseBenefit $36.41M USD 3 Qtrs
Income taxes IncomeTaxExpenseBenefit $16.32M USD 1 Quarter
Income taxes IncomeTaxExpenseBenefit $35.99M USD 3 Qtrs
Income taxes IncomeTaxExpenseBenefit $12.43M USD 1 Quarter
Net income NetIncomeLoss $147.06M USD 3 Qtrs
Net income NetIncomeLoss $33.00M USD 1 Quarter
Net income NetIncomeLoss $72.61M USD 3 Qtrs
Net income NetIncomeLoss $50.76M USD 1 Quarter
Other comprehensive income periodic pension costs, net of income taxes of $3, $9, $10, and $28, respectively OtherComprehensiveIncomeLossNetOfTax $17.00K USD 1 Quarter
Other comprehensive income periodic pension costs, net of income taxes of $3, $9, $10, and $28, respectively OtherComprehensiveIncomeLossNetOfTax $52.00K USD 3 Qtrs
Other comprehensive income periodic pension costs, net of income taxes of $3, $9, $10, and $28, respectively OtherComprehensiveIncomeLossNetOfTax $39.00K USD 3 Qtrs
Other comprehensive income periodic pension costs, net of income taxes of $3, $9, $10, and $28, respectively OtherComprehensiveIncomeLossNetOfTax $13.00K USD 1 Quarter
Total comprehensive income ComprehensiveIncomeNetOfTax $72.66M USD 3 Qtrs
Total comprehensive income ComprehensiveIncomeNetOfTax $50.77M USD 1 Quarter
Total comprehensive income ComprehensiveIncomeNetOfTax $147.09M USD 3 Qtrs
Total comprehensive income ComprehensiveIncomeNetOfTax $33.02M USD 1 Quarter
Weighted average number of Sub-share Certificates outstanding (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 7.87M shares 3 Qtrs
Weighted average number of Sub-share Certificates outstanding (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 7.79M shares 1 Quarter
Weighted average number of Sub-share Certificates outstanding (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 7.80M shares 3 Qtrs
Weighted average number of Sub-share Certificates outstanding (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 7.85M shares 1 Quarter
Net income per Sub-share Certificate basic and diluted (in dollars per share) EarningsPerShareBasicAndDiluted $6.52 USD 1 Quarter
Net income per Sub-share Certificate basic and diluted (in dollars per share) EarningsPerShareBasicAndDiluted $9.22 USD 3 Qtrs
Net income per Sub-share Certificate basic and diluted (in dollars per share) EarningsPerShareBasicAndDiluted $18.86 USD 3 Qtrs
Net income per Sub-share Certificate basic and diluted (in dollars per share) EarningsPerShareBasicAndDiluted $4.20 USD 1 Quarter
Cash dividends per Sub-share Certificate (in dollars per share) CommonStockDividendsPerShareCashPaid - USD 1 Quarter
Cash dividends per Sub-share Certificate (in dollars per share) CommonStockDividendsPerShareCashPaid $1.35 USD 3 Qtrs
Cash dividends per Sub-share Certificate (in dollars per share) CommonStockDividendsPerShareCashPaid $4.05 USD 3 Qtrs
Cash dividends per Sub-share Certificate (in dollars per share) CommonStockDividendsPerShareCashPaid - USD 1 Quarter
Cash Flow Statement 50 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $147.06M USD 3 Qtrs
Net income NetIncomeLoss $33.00M USD 1 Quarter
Net income NetIncomeLoss $72.61M USD 3 Qtrs
Net income NetIncomeLoss $50.76M USD 1 Quarter
Deferred taxes IncreaseDecreaseInDeferredIncomeTaxes $337.00K USD 3 Qtrs
Deferred taxes IncreaseDecreaseInDeferredIncomeTaxes - USD 3 Qtrs
Depreciation and amortization DepreciationDepletionAndAmortization $1.52M USD 3 Qtrs
Depreciation and amortization DepreciationDepletionAndAmortization $209.00K USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $313.00K USD 3 Qtrs
Depreciation and amortization DepreciationDepletionAndAmortization $706.00K USD 1 Quarter
Gain on disposal of fixed assets GainLossOnSaleOfPropertyPlantEquipment $2.00K USD 3 Qtrs
Gain on disposal of fixed assets GainLossOnSaleOfPropertyPlantEquipment $4.00K USD 3 Qtrs
Accrued receivables and other assets IncreaseDecreaseInReceivables $28.70M USD 3 Qtrs
Accrued receivables and other assets IncreaseDecreaseInReceivables $17.04M USD 3 Qtrs
Prepaid income taxes IncreaseDecreaseInPrepaidTaxes $-1.20M USD 3 Qtrs
Prepaid income taxes IncreaseDecreaseInPrepaidTaxes - USD 3 Qtrs
Accounts payable, accrued expenses and other liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $5.07M USD 3 Qtrs
Accounts payable, accrued expenses and other liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $7.55M USD 3 Qtrs
Income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $5.25M USD 3 Qtrs
Income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $2.21M USD 3 Qtrs
Cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $65.86M USD 3 Qtrs
Cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $130.83M USD 3 Qtrs
Proceeds from sale of fixed assets ProceedsFromSaleOfPropertyPlantAndEquipment $28.00K USD 3 Qtrs
Proceeds from sale of fixed assets ProceedsFromSaleOfPropertyPlantAndEquipment $25.00K USD 3 Qtrs
Acquisition of land PaymentsToAcquireLand $2.66M USD 3 Qtrs
Acquisition of land PaymentsToAcquireLand - USD 3 Qtrs
Purchase of fixed assets PaymentsToAcquirePropertyPlantAndEquipment $40.01M USD 3 Qtrs
Purchase of fixed assets PaymentsToAcquirePropertyPlantAndEquipment $8.44M USD 1 Quarter
Purchase of fixed assets PaymentsToAcquirePropertyPlantAndEquipment $4.36M USD 1 Quarter
Purchase of fixed assets PaymentsToAcquirePropertyPlantAndEquipment $7.97M USD 3 Qtrs
Cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-7.94M USD 3 Qtrs
Cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-42.64M USD 3 Qtrs
Purchase of Sub-share Certificates in Certificates of Proprietary Interest PaymentsForRepurchaseOfCommonStock $25.50M USD 3 Qtrs
Purchase of Sub-share Certificates in Certificates of Proprietary Interest PaymentsForRepurchaseOfCommonStock $27.16M USD 3 Qtrs
Dividends paid PaymentsOfDividends $31.65M USD 3 Qtrs
Dividends paid PaymentsOfDividends $10.68M USD 3 Qtrs
Cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-37.84M USD 3 Qtrs
Cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-57.15M USD 3 Qtrs
Net increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $31.04M USD 3 Qtrs
Net increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $20.08M USD 3 Qtrs
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $69.50M 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 $110.62M 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 $69.50M 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 $110.62M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $49.42M USD Point-in-time
Income taxes paid IncomeTaxesPaidNet $34.25M USD 3 Qtrs
Income taxes paid IncomeTaxesPaidNet $31.10M USD 3 Qtrs
Comprehensive Income 4 line items
Line Item Tag Value Unit Period
Other comprehensive income, tax OtherComprehensiveIncomeLossTaxPortionAttributableToParent1 $9.00K USD 1 Quarter
Other comprehensive income, tax OtherComprehensiveIncomeLossTaxPortionAttributableToParent1 $28.00K USD 3 Qtrs
Other comprehensive income, tax OtherComprehensiveIncomeLossTaxPortionAttributableToParent1 $3.00K USD 1 Quarter
Other comprehensive income, tax OtherComprehensiveIncomeLossTaxPortionAttributableToParent1 $10.00K USD 3 Qtrs

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

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