TEXAS PACIFIC LAND TRUST Income Statement

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Financial Statements

In millions of USD; shares in millions, except per-share amounts

	FY2019 12 months to Dec 31, 2019	FY2018 12 months to Dec 31, 2018	FY2017 12 months to Dec 31, 2017	FY2016 12 months to Dec 31, 2016	FY2015 12 months to Dec 31, 2015
Oil and gas royalties
Grazing lease rentals
Easements and sundry income
Water sales and royalties
Land sales
Interest income from notes receivable
Revenue
Revenues
Oil and gas royalties
Easements and other surface-related income
Water sales and royalties
Sale of oil and gas royalty interests
Land sales
Other operating revenue
Total revenues
Expenses:
Taxes, other than income taxes
Salaries and related employee expenses
Water service-related expenses
General and administrative expenses
Basis in real estate sold
Legal and professional fees
Depreciation
Trustees’ compensation
Total Expenses
Depreciation, depletion and amortization
Total operating expenses

Operating income
Interest income earned from investments
Other income (expense)
Other income
Income before income taxes
Income tax expense:
Current
Deferred
Income Taxes
Net income
Amortization of net actuarial costs, net of income taxes of $10, $14, and $38 for the years ended December 31, 2019, 2018 and 2017, respectively
Net actuarial (loss) gain on pension plan net of income taxes of $(111), $(38), and $46 as of December 31, 2019, 2018 and 2017, respectively
Total other comprehensive (loss) gain
Total comprehensive income
Net income per Sub-share Certificate - basic and diluted (in USD per share)
Weighted average number of Sub-share Certificates outstanding (in shares)

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