10-Q Filing

TEXAS PACIFIC LAND TRUST CIK: 97517 Q2 2016

Filing Information

Form Type	10-Q
Accession Number	`0001437749-16-036421`
Period End Date	20160630
Filing Date	20160804
Fiscal Year	2016
Fiscal Period	Q2
XBRL Instance	tpl-20160630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 72 Cash Flow Statement 44 Comprehensive Income 4

Balance Sheet 56 line items

Line Item	Tag	Value	Unit	Period
Real estate acquired, acres	`LandInAcres`	10,065.00	acre	Point-in-time
Real estate acquired, acres	`LandInAcres`	10,065.00	acre	Point-in-time
Land (surface rights), acres	`SurfaceRightsInAcres`	878,268.00	acre	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$45.01M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$38.81M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$26.81M	USD	Point-in-time
Land (surface rights), acres	`SurfaceRightsInAcres`	878,259.00	acre	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$45.62M	USD	Point-in-time
Accrued receivables	`OtherReceivables`	$3.79M	USD	Point-in-time
Accrued receivables	`OtherReceivables`	$6.13M	USD	Point-in-time
Other assets	`OtherAssets`	$121.43K	USD	Point-in-time
Other assets	`OtherAssets`	$125.94K	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
Notes receivable for land sales	`NotesAndLoansReceivableNetNoncurrent`	$139.11K	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
Notes receivable for land sales	`NotesAndLoansReceivableNetNoncurrent`	$111.78K	USD	Point-in-time
Water wells, vehicles, furniture, and equipment at cost less accumulated depreciation	`PropertyPlantAndEquipmentNet`	$260.90K	USD	Point-in-time
Sub-share 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`	$480.18K	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`	8.01M	shares	Point-in-time
Real estate acquired: (10,065 acres at June 30, 2016 and 10,065 at December 31, 2015)	`RealEstateGrossAtCarryingValue`	$1.11M	USD	Point-in-time
Real estate acquired: (10,065 acres at June 30, 2016 and 10,065 at December 31, 2015)	`RealEstateGrossAtCarryingValue`	$1.11M	USD	Point-in-time
Sub-share certificates of proprietary interest, outstanding (in shares)	`CommonStockSharesOutstanding`	8.12M	shares	Point-in-time
Land (surface rights) situated in eighteen counties in Texas 878,259 acres in 2016 and 878,268 acres in 2015	`Land`	-	USD	Point-in-time
Land (surface rights) situated in eighteen counties in Texas 878,259 acres in 2016 and 878,268 acres in 2015	`Land`	-	USD	Point-in-time
Assets	`Assets`	$50.44M	USD	Point-in-time
Assets	`Assets`	$53.58M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$868.81K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$903.75K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$721.46K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$634.91K	USD	Point-in-time
Other taxes payable	`TaxesPayableCurrentAndNoncurrent`	$167.29K	USD	Point-in-time
Other taxes payable	`TaxesPayableCurrentAndNoncurrent`	$261.27K	USD	Point-in-time
Unearned revenue	`DeferredRevenueCurrent`	$5.77M	USD	Point-in-time
Unearned revenue	`DeferredRevenueCurrent`	$2.58M	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesNoncurrent`	$178.68K	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesNoncurrent`	$163.21K	USD	Point-in-time
Pension plan liability	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$333.24K	USD	Point-in-time
Pension plan liability	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$364.85K	USD	Point-in-time
Total liabilities	`Liabilities`	$4.75M	USD	Point-in-time
Total liabilities	`Liabilities`	$8.20M	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: 8,014,633 Sub-shares in 2016 and 8,118,064 Sub-shares in 2015	`CommonStockValue`	-	USD	Point-in-time
Sub-share Certificates in Certificates of Proprietary Interest, par value $.03 1/3 each; outstanding: 8,014,633 Sub-shares in 2016 and 8,118,064 Sub-shares in 2015	`CommonStockValue`	-	USD	Point-in-time
Other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.20M	USD	Point-in-time
Other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.25M	USD	Point-in-time
Net proceeds from all sources	`RetainedEarningsUnappropriated`	$46.58M	USD	Point-in-time
Net proceeds from all sources	`RetainedEarningsUnappropriated`	$46.94M	USD	Point-in-time
Total capital	`StockholdersEquity`	$45.69M	USD	Point-in-time
Total capital	`StockholdersEquity`	$45.38M	USD	Point-in-time
LiabilitiesAndStockholdersEquity	`LiabilitiesAndStockholdersEquity`	$50.44M	USD	Point-in-time
LiabilitiesAndStockholdersEquity	`LiabilitiesAndStockholdersEquity`	$53.58M	USD	Point-in-time

Income Statement 72 line items

Line Item	Tag	Value	Unit	Period
Oil and gas royalties	`RoyaltyRevenue`	$6.87M	USD	1 Quarter
Oil and gas royalties	`RoyaltyRevenue`	$12.48M	USD	2 Qtrs
Oil and gas royalties	`RoyaltyRevenue`	$12.22M	USD	2 Qtrs
Oil and gas royalties	`RoyaltyRevenue`	$5.70M	USD	1 Quarter
Land sales	`LandSales`	$20.43M	USD	2 Qtrs
Land sales	`LandSales`	-	USD	1 Quarter
Land sales	`LandSales`	$160.00K	USD	1 Quarter
Land sales	`LandSales`	$86.00K	USD	2 Qtrs
Easements and sundry income	`OtherRealEstateRevenue`	$5.80M	USD	1 Quarter
Easements and sundry income	`OtherRealEstateRevenue`	$9.20M	USD	1 Quarter
Easements and sundry income	`OtherRealEstateRevenue`	$13.61M	USD	2 Qtrs
Easements and sundry income	`OtherRealEstateRevenue`	$15.27M	USD	2 Qtrs
Other income	`OtherSalesRevenueNet`	$261.74K	USD	2 Qtrs
Other income	`OtherSalesRevenueNet`	$249.03K	USD	2 Qtrs
Other income	`OtherSalesRevenueNet`	$125.34K	USD	1 Quarter
Other income	`OtherSalesRevenueNet`	$124.59K	USD	1 Quarter
Revenues	`Revenues`	$11.79M	USD	1 Quarter
Revenues	`Revenues`	$16.19M	USD	1 Quarter
Revenues	`Revenues`	$46.52M	USD	2 Qtrs
Revenues	`Revenues`	$28.08M	USD	2 Qtrs
Taxes, other than income taxes	`TaxesExcludingIncomeAndExciseTaxes`	$394.22K	USD	1 Quarter
Taxes, other than income taxes	`TaxesExcludingIncomeAndExciseTaxes`	$740.80K	USD	2 Qtrs
Taxes, other than income taxes	`TaxesExcludingIncomeAndExciseTaxes`	$342.30K	USD	1 Quarter
Taxes, other than income taxes	`TaxesExcludingIncomeAndExciseTaxes`	$718.58K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$503.80K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$698.42K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.11M	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.45M	USD	2 Qtrs
CostsAndExpenses	`CostsAndExpenses`	$846.10K	USD	1 Quarter
CostsAndExpenses	`CostsAndExpenses`	$2.19M	USD	2 Qtrs
CostsAndExpenses	`CostsAndExpenses`	$1.83M	USD	2 Qtrs
CostsAndExpenses	`CostsAndExpenses`	$1.09M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$44.69M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$10.94M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$15.10M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$25.89M	USD	2 Qtrs
Interest income earned from investments	`InvestmentIncomeInterest`	$7.26K	USD	1 Quarter
Interest income earned from investments	`InvestmentIncomeInterest`	$13.95K	USD	2 Qtrs
Interest income earned from investments	`InvestmentIncomeInterest`	$5.84K	USD	1 Quarter
Interest income earned from investments	`InvestmentIncomeInterest`	$11.79K	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$25.91M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$10.95M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$15.10M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$44.70M	USD	2 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	$3.53M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$15.12M	USD	2 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	$8.50M	USD	2 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	$4.98M	USD	1 Quarter
Net income	`NetIncomeLoss`	$29.58M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$17.40M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$10.12M	USD	1 Quarter
Net income	`NetIncomeLoss`	$7.42M	USD	1 Quarter
Other comprehensive income periodic pension costs, net of income taxes of $12,307, $12,909, $24,614, and $25,819 respectively	`OtherComprehensiveIncomeLossNetOfTax`	$45.71K	USD	2 Qtrs
Other comprehensive income periodic pension costs, net of income taxes of $12,307, $12,909, $24,614, and $25,819 respectively	`OtherComprehensiveIncomeLossNetOfTax`	$23.98K	USD	1 Quarter
Other comprehensive income periodic pension costs, net of income taxes of $12,307, $12,909, $24,614, and $25,819 respectively	`OtherComprehensiveIncomeLossNetOfTax`	$47.95K	USD	2 Qtrs
Other comprehensive income periodic pension costs, net of income taxes of $12,307, $12,909, $24,614, and $25,819 respectively	`OtherComprehensiveIncomeLossNetOfTax`	$22.86K	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$7.44M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$17.45M	USD	2 Qtrs
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$29.63M	USD	2 Qtrs
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$10.15M	USD	1 Quarter
Average number of sub-share certificates and equivalent sub-share certificates outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.05M	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`	8.26M	shares	2 Qtrs
Average number of sub-share certificates and equivalent sub-share certificates outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.06M	shares	2 Qtrs
Basic and dilutive earnings per sub-share certificate on net income (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$1.26	USD	1 Quarter
Basic and dilutive earnings per sub-share certificate on net income (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$2.16	USD	2 Qtrs
Basic and dilutive earnings per sub-share certificate on net income (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$3.58	USD	2 Qtrs
Basic and dilutive earnings per sub-share certificate on net income (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.90	USD	1 Quarter
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 dividends per sub-share certificate	`PaymentsOfCapitalDistribution`	$0.31	USD	2 Qtrs

Cash Flow Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$29.58M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$17.40M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$10.12M	USD	1 Quarter
Net income	`NetIncomeLoss`	$7.42M	USD	1 Quarter
Deferred taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-15.47K	USD	2 Qtrs
Deferred taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-811.00	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$9.30K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$12.97K	USD	2 Qtrs
Loss (gain) on disposal of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$712.00	USD	2 Qtrs
Loss (gain) on disposal of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-8.20K	USD	2 Qtrs
Accrued receivables and other assets	`IncreaseDecreaseInReceivables`	$924.32K	USD	2 Qtrs
Accrued receivables and other assets	`IncreaseDecreaseInReceivables`	$2.35M	USD	2 Qtrs
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	-	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`	$-27.33K	USD	2 Qtrs
Accounts payable, accrued expenses and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$3.40M	USD	2 Qtrs
Accounts payable, accrued expenses and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.56M	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$86.55K	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$1.95M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$18.61M	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`	$18.00K	USD	2 Qtrs
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$258.46K	USD	2 Qtrs
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$38.59K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-13.59K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-240.46K	USD	2 Qtrs
Purchase of Sub-share Certificates in Certificates of Proprietary Interest	`StockRepurchasedDuringPeriodValue`	$-15.26M	USD	2 Qtrs
Purchase of Sub-share Certificates in Certificates of Proprietary Interest	`StockRepurchasedDuringPeriodValue`	$-15.53M	USD	2 Qtrs
Dividends paid	`PaymentsOfDividends`	$2.40M	USD	2 Qtrs
Dividends paid	`PaymentsOfDividends`	$2.51M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-17.93M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-17.76M	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$603.88K	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$11.99M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$45.01M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$38.81M	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`	$45.62M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$45.01M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$38.81M	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`	$45.62M	USD	Point-in-time

Comprehensive Income 4 line items

Line Item	Tag	Value	Unit	Period
Other comprehensive income, tax	`OtherComprehensiveIncomeLossTaxPortionAttributableToParent1`	$12.31K	USD	1 Quarter
Other comprehensive income, tax	`OtherComprehensiveIncomeLossTaxPortionAttributableToParent1`	$25.82K	USD	2 Qtrs
Other comprehensive income, tax	`OtherComprehensiveIncomeLossTaxPortionAttributableToParent1`	$12.91K	USD	1 Quarter
Other comprehensive income, tax	`OtherComprehensiveIncomeLossTaxPortionAttributableToParent1`	$24.61K	USD	2 Qtrs

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