10-Q Filing

TEXAS PACIFIC LAND TRUST CIK: 97517 Q3 2016

Filing Information

Form Type	10-Q
Accession Number	`0001437749-16-041007`
Period End Date	20160930
Filing Date	20161103
Fiscal Year	2016
Fiscal Period	Q3
XBRL Instance	tpl-20160930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 72 Cash Flow Statement 44 Comprehensive Income 4

Balance Sheet 58 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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$46.17M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$45.50M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$26.81M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$45.01M	USD	Point-in-time
Land (surface rights), acres	`SurfaceRightsInAcres`	877,606.00	acre	Point-in-time
Land (surface rights), acres	`SurfaceRightsInAcres`	878,268.00	acre	Point-in-time
Accrued receivables	`OtherReceivables`	$3.79M	USD	Point-in-time
Accrued receivables	`OtherReceivables`	$7.00M	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
Other assets	`OtherAssets`	$121.43K	USD	Point-in-time
Other assets	`OtherAssets`	$68.21K	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	-	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$202.49K	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`	$94.97K	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
Notes receivable for land sales	`NotesAndLoansReceivableNetNoncurrent`	$139.11K	USD	Point-in-time
Water wells, vehicles, furniture, and equipment at cost less accumulated depreciation	`PropertyPlantAndEquipmentNet`	$584.96K	USD	Point-in-time
Sub-share certificates of proprietary interest, outstanding (in shares)	`CommonStockSharesOutstanding`	8.12M	shares	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, outstanding (in shares)	`CommonStockSharesOutstanding`	7.95M	shares	Point-in-time
Real estate acquired: (10,065 acres at September 30, 2016 and 10,065 at December 31, 2015)	`RealEstateGrossAtCarryingValue`	$1.11M	USD	Point-in-time
Real estate acquired: (10,065 acres at September 30, 2016 and 10,065 at December 31, 2015)	`RealEstateGrossAtCarryingValue`	$1.11M	USD	Point-in-time
Land (surface rights) situated in eighteen counties in Texas 877,606 acres in 2016 and 878,268 acres in 2015	`Land`	-	USD	Point-in-time
Land (surface rights) situated in eighteen counties in Texas 877,606 acres in 2016 and 878,268 acres in 2015	`Land`	-	USD	Point-in-time
Assets	`Assets`	$50.44M	USD	Point-in-time
Assets	`Assets`	$54.56M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$868.81K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.34M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$634.91K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Other taxes payable	`TaxesPayableCurrentAndNoncurrent`	$325.26K	USD	Point-in-time
Other taxes payable	`TaxesPayableCurrentAndNoncurrent`	$167.29K	USD	Point-in-time
Unearned revenue	`DeferredRevenueCurrent`	$2.58M	USD	Point-in-time
Unearned revenue	`DeferredRevenueCurrent`	$9.55M	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesNoncurrent`	$185.21K	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesNoncurrent`	$163.21K	USD	Point-in-time
Pension plan liability	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$380.66K	USD	Point-in-time
Pension plan liability	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$333.24K	USD	Point-in-time
Total liabilities	`Liabilities`	$4.75M	USD	Point-in-time
Total liabilities	`Liabilities`	$11.78M	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: 7,950,961 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: 7,950,961 Sub-shares in 2016 and 8,118,064 Sub-shares in 2015	`CommonStockValue`	-	USD	Point-in-time
Other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.18M	USD	Point-in-time
Other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.25M	USD	Point-in-time
Net proceeds from all sources	`RetainedEarningsUnappropriated`	$46.94M	USD	Point-in-time
Net proceeds from all sources	`RetainedEarningsUnappropriated`	$43.96M	USD	Point-in-time
Total capital	`StockholdersEquity`	$45.69M	USD	Point-in-time
Total capital	`StockholdersEquity`	$42.78M	USD	Point-in-time
LiabilitiesAndStockholdersEquity	`LiabilitiesAndStockholdersEquity`	$50.44M	USD	Point-in-time
LiabilitiesAndStockholdersEquity	`LiabilitiesAndStockholdersEquity`	$54.56M	USD	Point-in-time

Income Statement 72 line items

Line Item	Tag	Value	Unit	Period
Oil and gas royalties	`RoyaltyRevenue`	$20.93M	USD	3 Qtrs
Oil and gas royalties	`RoyaltyRevenue`	$8.45M	USD	1 Quarter
Oil and gas royalties	`RoyaltyRevenue`	$18.29M	USD	3 Qtrs
Oil and gas royalties	`RoyaltyRevenue`	$6.06M	USD	1 Quarter
Land sales	`LandSales`	$571.50K	USD	3 Qtrs
Land sales	`LandSales`	$485.50K	USD	1 Quarter
Land sales	`LandSales`	$1.89M	USD	1 Quarter
Land sales	`LandSales`	$22.32M	USD	3 Qtrs
Easements and sundry income	`OtherRealEstateRevenue`	$5.20M	USD	1 Quarter
Easements and sundry income	`OtherRealEstateRevenue`	$23.70M	USD	3 Qtrs
Easements and sundry income	`OtherRealEstateRevenue`	$20.47M	USD	3 Qtrs
Easements and sundry income	`OtherRealEstateRevenue`	$10.09M	USD	1 Quarter
Other income	`OtherSalesRevenueNet`	$139.02K	USD	1 Quarter
Other income	`OtherSalesRevenueNet`	$400.75K	USD	3 Qtrs
Other income	`OtherSalesRevenueNet`	$124.62K	USD	1 Quarter
Other income	`OtherSalesRevenueNet`	$373.65K	USD	3 Qtrs
Revenues	`Revenues`	$64.70M	USD	3 Qtrs
Revenues	`Revenues`	$42.35M	USD	3 Qtrs
Revenues	`Revenues`	$18.18M	USD	1 Quarter
Revenues	`Revenues`	$14.27M	USD	1 Quarter
Taxes, other than income taxes	`TaxesExcludingIncomeAndExciseTaxes`	$1.24M	USD	3 Qtrs
Taxes, other than income taxes	`TaxesExcludingIncomeAndExciseTaxes`	$497.24K	USD	1 Quarter
Taxes, other than income taxes	`TaxesExcludingIncomeAndExciseTaxes`	$362.56K	USD	1 Quarter
Taxes, other than income taxes	`TaxesExcludingIncomeAndExciseTaxes`	$1.08M	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.70M	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$676.33K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$590.98K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$2.12M	USD	3 Qtrs
CostsAndExpenses	`CostsAndExpenses`	$1.17M	USD	1 Quarter
CostsAndExpenses	`CostsAndExpenses`	$2.78M	USD	3 Qtrs
CostsAndExpenses	`CostsAndExpenses`	$953.54K	USD	1 Quarter
CostsAndExpenses	`CostsAndExpenses`	$3.36M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$13.09M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$61.92M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$38.99M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$17.23M	USD	1 Quarter
Interest income earned from investments	`InvestmentIncomeInterest`	$7.29K	USD	1 Quarter
Interest income earned from investments	`InvestmentIncomeInterest`	$21.24K	USD	3 Qtrs
Interest income earned from investments	`InvestmentIncomeInterest`	$19.29K	USD	3 Qtrs
Interest income earned from investments	`InvestmentIncomeInterest`	$7.50K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$61.94M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$17.23M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$39.01M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$13.10M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$12.67M	USD	3 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	$4.17M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$20.89M	USD	3 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	$5.77M	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.93M	USD	1 Quarter
Net income	`NetIncomeLoss`	$26.33M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$11.46M	USD	1 Quarter
Net income	`NetIncomeLoss`	$41.04M	USD	3 Qtrs
Other comprehensive income periodic pension costs, net of income taxes of $12,909, $4,527, $38,728, and $13,582 respectively	`OtherComprehensiveIncomeLossNetOfTax`	$23.98K	USD	1 Quarter
Other comprehensive income periodic pension costs, net of income taxes of $12,909, $4,527, $38,728, and $13,582 respectively	`OtherComprehensiveIncomeLossNetOfTax`	$22.86K	USD	1 Quarter
Other comprehensive income periodic pension costs, net of income taxes of $12,909, $4,527, $38,728, and $13,582 respectively	`OtherComprehensiveIncomeLossNetOfTax`	$68.57K	USD	3 Qtrs
Other comprehensive income periodic pension costs, net of income taxes of $12,909, $4,527, $38,728, and $13,582 respectively	`OtherComprehensiveIncomeLossNetOfTax`	$71.92K	USD	3 Qtrs
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$41.12M	USD	3 Qtrs
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$8.95M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$26.40M	USD	3 Qtrs
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$11.49M	USD	1 Quarter
Average number of sub-share certificates and equivalent sub-share certificates outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.23M	shares	3 Qtrs
Average number of sub-share certificates and equivalent sub-share certificates outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.19M	shares	1 Quarter
Average number of sub-share certificates and equivalent sub-share certificates outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.98M	shares	1 Quarter
Average number of sub-share certificates and equivalent sub-share certificates outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.03M	shares	3 Qtrs
Basic and dilutive earnings per sub-share certificate on net income (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$1.40	USD	1 Quarter
Basic and dilutive earnings per sub-share certificate on net income (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$4.99	USD	3 Qtrs
Basic and dilutive earnings per sub-share certificate on net income (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$1.12	USD	1 Quarter
Basic and dilutive earnings per sub-share certificate on net income (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$3.28	USD	3 Qtrs
Cash dividends per sub-share certificate	`PaymentsOfCapitalDistribution`	$0.31	USD	3 Qtrs
Cash dividends per sub-share certificate	`PaymentsOfCapitalDistribution`	$0.29	USD	3 Qtrs
Cash dividends per sub-share certificate	`PaymentsOfCapitalDistribution`	-	USD	1 Quarter
Cash dividends per sub-share certificate	`PaymentsOfCapitalDistribution`	-	USD	1 Quarter

Cash Flow Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$8.93M	USD	1 Quarter
Net income	`NetIncomeLoss`	$26.33M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$11.46M	USD	1 Quarter
Net income	`NetIncomeLoss`	$41.04M	USD	3 Qtrs
Deferred taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-22.00K	USD	3 Qtrs
Deferred taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$237.64K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$13.80K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$18.67K	USD	3 Qtrs
(Gain) loss on disposal of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-8.20K	USD	3 Qtrs
(Gain) loss on disposal of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$712.00	USD	3 Qtrs
Accrued receivables and other assets	`IncreaseDecreaseInReceivables`	$797.63K	USD	3 Qtrs
Accrued receivables and other assets	`IncreaseDecreaseInReceivables`	$3.16M	USD	3 Qtrs
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$-815.94K	USD	3 Qtrs
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$202.49K	USD	3 Qtrs
Notes receivable for land sales	`IncreaseDecreaseInNotesReceivables`	$-784.00K	USD	3 Qtrs
Notes receivable for land sales	`IncreaseDecreaseInNotesReceivables`	$-44.14K	USD	3 Qtrs
Accounts payable, accrued expenses and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$7.71M	USD	3 Qtrs
Accounts payable, accrued expenses and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.42M	USD	3 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-634.91K	USD	3 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$2.47M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$42.66M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$30.14M	USD	3 Qtrs
Proceeds from sale of fixed assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$18.00K	USD	3 Qtrs
Proceeds from sale of fixed assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$25.00K	USD	3 Qtrs
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$111.65K	USD	3 Qtrs
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$368.94K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-86.65K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-350.94K	USD	3 Qtrs
Purchase of Sub-share Certificates in Certificates of Proprietary Interest	`PaymentsForRepurchaseOfCommonStock`	$20.82M	USD	3 Qtrs
Purchase of Sub-share Certificates in Certificates of Proprietary Interest	`PaymentsForRepurchaseOfCommonStock`	$26.80M	USD	3 Qtrs
Dividends paid	`PaymentsOfDividends`	$2.51M	USD	3 Qtrs
Dividends paid	`PaymentsOfDividends`	$2.40M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-29.31M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-23.22M	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$19.36M	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$484.21K	USD	3 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$46.17M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$45.50M	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`	$45.01M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$46.17M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$45.50M	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`	$45.01M	USD	Point-in-time

Comprehensive Income 4 line items

Line Item	Tag	Value	Unit	Period
Other comprehensive income, tax	`OtherComprehensiveIncomeLossTaxPortionAttributableToParent1`	$13.58K	USD	3 Qtrs
Other comprehensive income, tax	`OtherComprehensiveIncomeLossTaxPortionAttributableToParent1`	$12.91K	USD	1 Quarter
Other comprehensive income, tax	`OtherComprehensiveIncomeLossTaxPortionAttributableToParent1`	$4.53K	USD	1 Quarter
Other comprehensive income, tax	`OtherComprehensiveIncomeLossTaxPortionAttributableToParent1`	$38.73K	USD	3 Qtrs

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