10-Q Filing

TEXAS PACIFIC LAND TRUST CIK: 97517 Q2 2015

Filing Information

Form Type	10-Q
Accession Number	`0001437749-15-015018`
Period End Date	20150630
Filing Date	20150806
Fiscal Year	2015
Fiscal Period	Q2
XBRL Instance	tpl-20150630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 52 Income Statement 72 Cash Flow Statement 43 Comprehensive Income 4

Balance Sheet 52 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$24.14M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$26.81M	USD	Point-in-time
Acres	`LandInAcres`	10,125.00	acre	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$13.24M	USD	Point-in-time
Acres	`LandInAcres`	10,065.00	acre	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$38.81M	USD	Point-in-time
Accrued receivables	`OtherReceivables`	$4.15M	USD	Point-in-time
Accrued receivables	`OtherReceivables`	$3.22M	USD	Point-in-time
Other assets	`OtherAssets`	$121.40K	USD	Point-in-time
Other assets	`OtherAssets`	$114.49K	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$815.94K	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
Prepaid income taxes	`PrepaidTaxes`	-	USD	Point-in-time
Notes receivable for land sales	`NotesAndLoansReceivableNetNoncurrent`	$850.67K	USD	Point-in-time
Notes receivable for land sales	`NotesAndLoansReceivableNetNoncurrent`	$923.12K	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
Water wells, vehicles, furniture, and equipment at cost less accumulated depreciation	`PropertyPlantAndEquipmentNet`	$94.11K	USD	Point-in-time
Sub-share Certificates in Certificates of Proprietary Interest, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.03	USD	Point-in-time
Sub-share Certificates in Certificates of Proprietary Interest, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.03	USD	Point-in-time
Water wells, vehicles, furniture, and equipment at cost less accumulated depreciation	`PropertyPlantAndEquipmentNet`	$89.11K	USD	Point-in-time
Sub-share Certificates in Certificates of Proprietary Interest, outstanding (in shares)	`CommonStockSharesOutstanding`	8.21M	shares	Point-in-time
Real estate acquired	`RealEstateGrossAtCarryingValue`	$1.11M	USD	Point-in-time
Sub-share Certificates in Certificates of Proprietary Interest, outstanding (in shares)	`CommonStockSharesOutstanding`	8.32M	shares	Point-in-time
Real estate acquired	`RealEstateGrossAtCarryingValue`	$1.13M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$828.67K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$841.88K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$406.94K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$2.35M	USD	Point-in-time
Other taxes payable	`TaxesPayableCurrentAndNoncurrent`	$159.30K	USD	Point-in-time
Other taxes payable	`TaxesPayableCurrentAndNoncurrent`	$221.21K	USD	Point-in-time
Unearned revenue	`DeferredRevenueCurrent`	$2.25M	USD	Point-in-time
Unearned revenue	`DeferredRevenueCurrent`	$3.94M	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesNoncurrent`	$293.14K	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesNoncurrent`	$293.95K	USD	Point-in-time
Pension plan liability	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$759.82K	USD	Point-in-time
Pension plan liability	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$754.26K	USD	Point-in-time
Total liabilities	`Liabilities`	$6.72M	USD	Point-in-time
Total liabilities	`Liabilities`	$6.38M	USD	Point-in-time
Certificates of Proprietary Interest, par value $100 each; outstanding 0 Certificates	`PreferredStockValue`	-	USD	Point-in-time
Certificates of Proprietary Interest, par value $100 each; outstanding 0 Certificates	`PreferredStockValue`	-	USD	Point-in-time
Sub-share Certificates in Certificates of Proprietary Interest, par value $.03 1/3 each; outstanding: 8,212,117 Sub-shares in 2015 and 8,322,399 Sub-shares in 2014	`CommonStockValue`	-	USD	Point-in-time
Sub-share Certificates in Certificates of Proprietary Interest, par value $.03 1/3 each; outstanding: 8,212,117 Sub-shares in 2015 and 8,322,399 Sub-shares in 2014	`CommonStockValue`	-	USD	Point-in-time
Other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.35M	USD	Point-in-time
Other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.30M	USD	Point-in-time
Net proceeds from all sources	`RetainedEarningsUnappropriated`	$28.07M	USD	Point-in-time
Net proceeds from all sources	`RetainedEarningsUnappropriated`	$39.72M	USD	Point-in-time
Total capital	`StockholdersEquity`	$38.42M	USD	Point-in-time
Total capital	`StockholdersEquity`	$26.72M	USD	Point-in-time
LiabilitiesAndStockholdersEquity	`LiabilitiesAndStockholdersEquity`	$33.10M	USD	Point-in-time
LiabilitiesAndStockholdersEquity	`LiabilitiesAndStockholdersEquity`	$45.14M	USD	Point-in-time

Income Statement 72 line items

Line Item	Tag	Value	Unit	Period
Oil and gas royalties	`RoyaltyRevenue`	$12.22M	USD	2 Qtrs
Oil and gas royalties	`RoyaltyRevenue`	$5.70M	USD	1 Quarter
Oil and gas royalties	`RoyaltyRevenue`	$7.86M	USD	1 Quarter
Oil and gas royalties	`RoyaltyRevenue`	$15.11M	USD	2 Qtrs
Land sales	`LandSales`	$1.67M	USD	1 Quarter
Land sales	`LandSales`	$1.67M	USD	2 Qtrs
Land sales	`LandSales`	$20.43M	USD	2 Qtrs
Land sales	`LandSales`	$160.00K	USD	1 Quarter
Easements and sundry income	`OtherRealEstateRevenue`	$5.86M	USD	1 Quarter
Easements and sundry income	`OtherRealEstateRevenue`	$13.61M	USD	2 Qtrs
Easements and sundry income	`OtherRealEstateRevenue`	$5.80M	USD	1 Quarter
Easements and sundry income	`OtherRealEstateRevenue`	$10.03M	USD	2 Qtrs
Other income	`OtherSalesRevenueNet`	$182.50K	USD	1 Quarter
Other income	`OtherSalesRevenueNet`	$350.85K	USD	2 Qtrs
Other income	`OtherSalesRevenueNet`	$261.74K	USD	2 Qtrs
Other income	`OtherSalesRevenueNet`	$125.34K	USD	1 Quarter
Revenues	`Revenues`	$46.52M	USD	2 Qtrs
Revenues	`Revenues`	$15.58M	USD	1 Quarter
Revenues	`Revenues`	$11.79M	USD	1 Quarter
Revenues	`Revenues`	$27.16M	USD	2 Qtrs
Taxes, other than income taxes	`TaxesExcludingIncomeAndExciseTaxes`	$874.38K	USD	2 Qtrs
Taxes, other than income taxes	`TaxesExcludingIncomeAndExciseTaxes`	$718.58K	USD	2 Qtrs
Taxes, other than income taxes	`TaxesExcludingIncomeAndExciseTaxes`	$447.70K	USD	1 Quarter
Taxes, other than income taxes	`TaxesExcludingIncomeAndExciseTaxes`	$342.30K	USD	1 Quarter
General and administrative expenses	`CurrentIncomeTaxExpenseBenefit`	$503.80K	USD	1 Quarter
General and administrative expenses	`CurrentIncomeTaxExpenseBenefit`	$422.65K	USD	1 Quarter
General and administrative expenses	`CurrentIncomeTaxExpenseBenefit`	$1.11M	USD	2 Qtrs
General and administrative expenses	`CurrentIncomeTaxExpenseBenefit`	$938.38K	USD	2 Qtrs
CostsAndExpenses	`CostsAndExpenses`	$870.35K	USD	1 Quarter
CostsAndExpenses	`CostsAndExpenses`	$846.10K	USD	1 Quarter
CostsAndExpenses	`CostsAndExpenses`	$1.81M	USD	2 Qtrs
CostsAndExpenses	`CostsAndExpenses`	$1.83M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$25.35M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$10.94M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$14.71M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$44.69M	USD	2 Qtrs
Interest income earned from investments	`InvestmentIncomeInterest`	$13.95K	USD	2 Qtrs
Interest income earned from investments	`InvestmentIncomeInterest`	$3.38K	USD	1 Quarter
Interest income earned from investments	`InvestmentIncomeInterest`	$7.26K	USD	1 Quarter
Interest income earned from investments	`InvestmentIncomeInterest`	$6.72K	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$10.95M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$44.70M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$25.35M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$14.71M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$4.80M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$3.53M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$15.12M	USD	2 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	$8.19M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$17.16M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$7.42M	USD	1 Quarter
Net income	`NetIncomeLoss`	$29.58M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$9.91M	USD	1 Quarter
Other comprehensive income periodic pension costs, net of income taxes of $12,909, $4,527, $25,819, and $9,054 respectively	`OtherComprehensiveIncomeLossNetOfTax`	$23.98K	USD	1 Quarter
Other comprehensive income periodic pension costs, net of income taxes of $12,909, $4,527, $25,819, and $9,054 respectively	`OtherComprehensiveIncomeLossNetOfTax`	$16.82K	USD	2 Qtrs
Other comprehensive income periodic pension costs, net of income taxes of $12,909, $4,527, $25,819, and $9,054 respectively	`OtherComprehensiveIncomeLossNetOfTax`	$8.41K	USD	1 Quarter
Other comprehensive income periodic pension costs, net of income taxes of $12,909, $4,527, $25,819, and $9,054 respectively	`OtherComprehensiveIncomeLossNetOfTax`	$47.95K	USD	2 Qtrs
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$17.18M	USD	2 Qtrs
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$9.92M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$7.44M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$29.63M	USD	2 Qtrs
Average number of sub-share certificates and equivalent sub-share certificates outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.44M	shares	1 Quarter
Average number of sub-share certificates and equivalent sub-share certificates outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.24M	shares	1 Quarter
Average number of sub-share certificates and equivalent sub-share certificates outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.44M	shares	2 Qtrs
Average number of sub-share certificates and equivalent sub-share certificates outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.26M	shares	2 Qtrs
Basic and dilutive earnings per sub-share certificate on net income (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.90	USD	1 Quarter
Basic and dilutive earnings per sub-share certificate on net income (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$1.17	USD	1 Quarter
Basic and dilutive earnings per sub-share certificate on net income (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$2.03	USD	2 Qtrs
Basic and dilutive earnings per sub-share certificate on net income (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$3.58	USD	2 Qtrs
Cash dividends per sub-share certificate	`PaymentsOfCapitalDistribution`	$0.27	USD	2 Qtrs
Cash dividends per sub-share certificate	`PaymentsOfCapitalDistribution`	$0.29	USD	2 Qtrs
Cash dividends per sub-share certificate	`PaymentsOfCapitalDistribution`	-	USD	1 Quarter
Cash dividends per sub-share certificate	`PaymentsOfCapitalDistribution`	-	USD	1 Quarter

Cash Flow Statement 43 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$17.16M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$7.42M	USD	1 Quarter
Net income	`NetIncomeLoss`	$29.58M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$9.91M	USD	1 Quarter
Deferred taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$907.24K	USD	2 Qtrs
Deferred taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-811.00	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$9.30K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$11.94K	USD	2 Qtrs
(Gain) loss on disposal of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$712.00	USD	2 Qtrs
(Gain) loss on disposal of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-5.08K	USD	2 Qtrs
Accrued receivables and other assets	`IncreaseDecreaseInReceivables`	$924.32K	USD	2 Qtrs
Accrued receivables and other assets	`IncreaseDecreaseInReceivables`	$723.06K	USD	2 Qtrs
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$-815.94K	USD	2 Qtrs
Notes receivable for land sales	`IncreaseDecreaseInNotesReceivables`	$-72.44K	USD	2 Qtrs
Notes receivable for land sales	`IncreaseDecreaseInNotesReceivables`	$-2.60M	USD	2 Qtrs
Accounts payable, accrued expenses and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$299.44K	USD	2 Qtrs
Accounts payable, accrued expenses and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.56M	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$1.95M	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$1.47M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$19.93M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$29.94M	USD	2 Qtrs
Proceeds from sale of fixed assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$25.00K	USD	2 Qtrs
Proceeds from sale of fixed assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$21.00K	USD	2 Qtrs
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$38.59K	USD	2 Qtrs
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$49.34K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-13.59K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-28.34K	USD	2 Qtrs
Purchase of Sub-share Certificates in Certificates of Proprietary Interest	`StockRepurchasedDuringPeriodValue`	$-15.53M	USD	2 Qtrs
Purchase of Sub-share Certificates in Certificates of Proprietary Interest	`StockRepurchasedDuringPeriodValue`	$-6.72M	USD	2 Qtrs
Dividends paid	`PaymentsOfDividends`	$2.40M	USD	2 Qtrs
Dividends paid	`PaymentsOfDividends`	$2.28M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-9.00M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-17.93M	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$10.90M	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$11.99M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$24.14M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$26.81M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$13.24M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$38.81M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$24.14M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$26.81M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$13.24M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$38.81M	USD	Point-in-time

Comprehensive Income 4 line items

Line Item	Tag	Value	Unit	Period
Other comprehensive income, tax	`OtherComprehensiveIncomeLossTaxPortionAttributableToParent1`	$4.53K	USD	1 Quarter
Other comprehensive income, tax	`OtherComprehensiveIncomeLossTaxPortionAttributableToParent1`	$12.91K	USD	1 Quarter
Other comprehensive income, tax	`OtherComprehensiveIncomeLossTaxPortionAttributableToParent1`	$25.82K	USD	2 Qtrs
Other comprehensive income, tax	`OtherComprehensiveIncomeLossTaxPortionAttributableToParent1`	$9.05K	USD	2 Qtrs

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