2023 Q4 Form 10-Q Financial Statement
#000181107423000053 Filed on November 01, 2023
Income Statement
| Concept | 2023 Q4 | 2023 Q3 | 2022 Q4 |
|---|---|---|---|
| Revenue | $166.7M | $158.0M | $152.7M |
| YoY Change | 9.14% | -17.34% | 3.76% |
| Cost Of Revenue | $9.070M | $8.553M | $4.418M |
| YoY Change | 105.3% | 34.74% | 61.59% |
| Gross Profit | $157.6M | $149.4M | $148.3M |
| YoY Change | 6.27% | -19.13% | 2.66% |
| Gross Profit Margin | 94.56% | 94.59% | 97.11% |
| Selling, General & Admin | $19.85M | $18.87M | $20.85M |
| YoY Change | -4.8% | 0.43% | 50.12% |
| % of Gross Profit | 12.59% | 12.63% | 14.06% |
| Research & Development | |||
| YoY Change | |||
| % of Gross Profit | |||
| Depreciation & Amortization | $3.876M | $3.584M | $3.153M |
| YoY Change | 22.93% | -8.5% | -32.84% |
| % of Gross Profit | 2.46% | 2.4% | 2.13% |
| Operating Expenses | $23.72M | $22.46M | $24.06M |
| YoY Change | -1.38% | -1.11% | 29.46% |
| Operating Profit | $133.9M | $127.0M | $124.2M |
| YoY Change | 7.75% | -21.66% | -1.3% |
| Interest Expense | |||
| YoY Change | |||
| % of Operating Profit | |||
| Other Income/Expense, Net | $11.27M | $7.979M | $3.922M |
| YoY Change | 187.33% | 315.57% | -1407.33% |
| Pretax Income | $145.1M | $134.9M | $128.2M |
| YoY Change | 13.25% | -17.71% | 2.06% |
| Income Tax | $32.02M | $29.36M | $28.42M |
| % Of Pretax Income | 22.06% | 21.76% | 22.18% |
| Net Earnings | $113.1M | $105.6M | $99.73M |
| YoY Change | 13.42% | -18.69% | 26.17% |
| Net Earnings / Revenue | 67.87% | 66.83% | 65.31% |
| Basic Earnings Per Share | $13.75 | ||
| Diluted Earnings Per Share | $14.74 | $13.74 | $12.94 |
| COMMON SHARES | |||
| Basic Shares Outstanding | 7.675M shares | 7.678M shares | 7.704M shares |
| Diluted Shares Outstanding | 7.682M shares |
Balance Sheet
| Concept | 2023 Q4 | 2023 Q3 | 2022 Q4 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $725.2M | $654.2M | $510.8M |
| YoY Change | 41.96% | 46.48% | 19.29% |
| Cash & Equivalents | $725.2M | $654.2M | $510.8M |
| Short-Term Investments | |||
| Other Short-Term Assets | $2.944M | $5.105M | $12.24M |
| YoY Change | -75.94% | 73.46% | 300.65% |
| Inventory | |||
| Prepaid Expenses | |||
| Receivables | $129.0M | $126.2M | $104.0M |
| Other Receivables | $0.00 | $0.00 | $0.00 |
| Total Short-Term Assets | $862.5M | $790.9M | $633.4M |
| YoY Change | 36.16% | 34.23% | 20.3% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $89.59M | $86.60M | $85.48M |
| YoY Change | 4.81% | 6.18% | 7.22% |
| Goodwill | |||
| YoY Change | |||
| Intangibles | $21.03M | $21.31M | $0.00 |
| YoY Change | |||
| Long-Term Investments | |||
| YoY Change | |||
| Other Assets | $5.380M | $5.380M | $6.348M |
| YoY Change | -15.25% | ||
| Total Long-Term Assets | $293.9M | $288.5M | $244.0M |
| YoY Change | 20.45% | 20.3% | 2.73% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $862.5M | $790.9M | $633.4M |
| Total Long-Term Assets | $293.9M | $288.5M | $244.0M |
| Total Assets | $1.156B | $1.079B | $877.4M |
| YoY Change | 31.79% | 30.2% | 14.84% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $22.50M | $29.03M | $23.90M |
| YoY Change | -5.84% | -5.53% | 32.7% |
| Accrued Expenses | $1.444M | $1.609M | $2.086M |
| YoY Change | -30.78% | -65.49% | 1.46% |
| Deferred Revenue | $6.330M | $6.102M | $4.488M |
| YoY Change | 41.04% | 32.34% | 17.83% |
| Short-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Long-Term Debt Due | |||
| YoY Change | |||
| Total Short-Term Liabilities | $44.39M | $47.37M | $39.60M |
| YoY Change | 12.1% | 8.65% | -22.21% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Other Long-Term Liabilities | $25.01M | $25.66M | $21.71M |
| YoY Change | 15.19% | 19.74% | 6.16% |
| Total Long-Term Liabilities | $25.01M | $25.66M | $21.71M |
| YoY Change | 15.19% | 19.74% | 6.16% |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $44.39M | $47.37M | $39.60M |
| Total Long-Term Liabilities | $25.01M | $25.66M | $21.71M |
| Total Liabilities | $113.2M | $114.8M | $104.5M |
| YoY Change | 8.29% | 6.45% | -6.95% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | $1.172B | $1.084B | $866.1M |
| YoY Change | 35.28% | 37.24% | 29.66% |
| Common Stock | $78.00K | $78.00K | $78.00K |
| YoY Change | 0.0% | 0.0% | 0.0% |
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | $145.0M | $133.9M | $104.1M |
| YoY Change | 39.24% | 83.54% | 575.48% |
| Treasury Stock Shares | |||
| Shareholders Equity | $1.043B | $964.6M | $772.9M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $1.156B | $1.079B | $877.4M |
| YoY Change | 31.79% | 30.2% | 14.84% |
Cashflow Statement
| Concept | 2023 Q4 | 2023 Q3 | 2022 Q4 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | $113.1M | $105.6M | $99.73M |
| YoY Change | 13.42% | -18.69% | 26.17% |
| Depreciation, Depletion And Amortization | $3.876M | $3.584M | $3.153M |
| YoY Change | 22.93% | -8.5% | -32.84% |
| Cash From Operating Activities | $111.4M | $107.6M | $132.5M |
| YoY Change | -15.9% | -9.77% | 46.17% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | $4.398M | $5.243M | $6.810M |
| YoY Change | -35.42% | 189.99% | -235.79% |
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | $0.00 | $0.00 | $0.00 |
| YoY Change | -100.0% | -100.0% | |
| Cash From Investing Activities | -$4.398M | -$28.26M | -$6.810M |
| YoY Change | -35.42% | 346.59% | 35.98% |
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | |||
| YoY Change | |||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | -36.02M | -31.24M | -55.10M |
| YoY Change | -34.63% | -44.33% | 82.68% |
| NET CHANGE | |||
| Cash From Operating Activities | 111.4M | 107.6M | 132.5M |
| Cash From Investing Activities | -4.398M | -28.26M | -6.810M |
| Cash From Financing Activities | -36.02M | -31.24M | -55.10M |
| Net Change In Cash | 71.01M | 48.09M | 70.59M |
| YoY Change | 0.59% | -15.32% | 27.24% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | $111.4M | $107.6M | $132.5M |
| Capital Expenditures | $4.398M | $5.243M | $6.810M |
| Free Cash Flow | $107.0M | $102.4M | $125.7M |
| YoY Change | -14.85% | -12.84% | 31.39% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2023Q3 | us-gaap |
Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
|
3584000 | usd |
| CY2022Q3 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
1920000 | usd |
| CY2023Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
134937000 | usd |
| CY2022Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
163975000 | usd |
| CY2023Q3 | us-gaap |
Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
|
-7000 | usd |
| CY2022Q3 | us-gaap |
Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
|
3000 | usd |
| CY2023Q3 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-26000 | usd |
| CY2022Q3 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
8000 | usd |
| CY2023Q3 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
105548000 | usd |
| CY2022Q3 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
129845000 | usd |
| CY2023Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
13.75 | |
| CY2022Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
16.83 | |
| CY2023Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
13.74 | |
| CY2022Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
16.82 | |
| CY2023Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
7675521 | shares |
| CY2022Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
7714796 | shares |
| CY2023Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
7681774 | shares |
| CY2022Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
7720221 | shares |
| CY2023Q3 | us-gaap |
Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
|
3.25 | |
| CY2022Q3 | us-gaap |
Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
|
3.00 | |
| CY2022Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
7756156 | shares |
| CY2023Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
29363000 | usd |
| CY2022Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
34138000 | usd |
| CY2023Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
105574000 | usd |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
292535000 | usd | |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
346631000 | usd | |
| us-gaap |
Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
|
1034000 | usd | |
| us-gaap |
Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
|
840000 | usd | |
| us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
19554000 | usd | |
| us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
45065000 | usd | |
| us-gaap |
Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
|
9995000 | usd | |
| us-gaap |
Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
|
16901000 | usd | |
| us-gaap |
Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
1114000 | usd | |
| us-gaap |
Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
-20821000 | usd | |
| us-gaap |
Increase Decrease In Prepaid Taxes
IncreaseDecreaseInPrepaidTaxes
|
-4809000 | usd | |
| us-gaap |
Increase Decrease In Prepaid Taxes
IncreaseDecreaseInPrepaidTaxes
|
0 | usd | |
| us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
306858000 | usd | |
| us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
314645000 | usd | |
| us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
21403000 | usd | |
| us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
0 | usd | |
| us-gaap |
Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
|
0 | usd | |
| us-gaap |
Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
|
4174000 | usd | |
| tpl |
Decrease Increase In Accounts Payable Related To Capital Expenditures
DecreaseIncreaseInAccountsPayableRelatedToCapitalExpenditures
|
-243000 | usd | |
| tpl |
Decrease Increase In Accounts Payable Related To Capital Expenditures
DecreaseIncreaseInAccountsPayableRelatedToCapitalExpenditures
|
-868000 | usd | |
| tpl |
Stock Repurchase Program Share Repurchases Not Yet Settled
StockRepurchaseProgramShareRepurchasesNotYetSettled
|
481000 | usd | |
| tpl |
Stock Repurchase Program Share Repurchases Not Yet Settled
StockRepurchaseProgramShareRepurchasesNotYetSettled
|
1090000 | usd | |
| tpl |
Noncash Or Part Noncash Acquisition Operating Lease Right Of Use Assets
NoncashOrPartNoncashAcquisitionOperatingLeaseRightOfUseAssets
|
0 | usd | |
| tpl |
Noncash Or Part Noncash Acquisition Operating Lease Right Of Use Assets
NoncashOrPartNoncashAcquisitionOperatingLeaseRightOfUseAssets
|
1364000 | usd | |
| us-gaap |
Nature Of Operations
NatureOfOperations
|
Organization and Description of Business Segments<div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Organization</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Texas Pacific Land Corporation (which, together with its subsidiaries as the context requires, may be referred to as “TPL”, the “Company”, “our”, “we” or “us”) is a Delaware corporation and one of the largest landowners in the State of Texas with approximately 868,000 surface acres of land in West Texas, with the majority of our ownership concentrated in the Permian Basin. Additionally, we own a 1/128th nonparticipating perpetual oil and gas royalty interest (“NPRI”) under approximately 85,000 acres of land, a 1/16th NPRI under approximately 371,000 acres of land, and approximately 4,000 additional net royalty acres (normalized to 1/8th) in the western part of Texas.</span></div><div style="text-align:justify;text-indent:36pt"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">TPL’s income is derived primarily from oil, gas and produced water royalties, sales of water and land, easements, and commercial leases of the Company’s land.</span></div><div style="text-align:justify;text-indent:36pt"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 11, 2021, we completed our reorganization from a business trust, Texas Pacific Land Trust, organized under a Declaration of Trust dated February 1, 1888 (the “Declaration of Trust”), into Texas Pacific Land Corporation, a corporation formed and existing under the laws of the state of Delaware (the “Corporate Reorganization”).</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Basis of Presentation</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and on the same basis as the audited financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2022. The condensed consolidated financial statements herein include all adjustments which are, in the opinion of management, necessary to fairly state the financial position of the Company as of September 30, 2023 and the results of its operations for the three and nine months ended September 30, 2023 and 2022, respectively, and its cash flows for the nine months ended September 30, 2023 and 2022, respectively. Such adjustments are of a normal nature and all intercompany accounts and transactions have been eliminated in consolidation. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted from this report, and accordingly these interim financial statements and footnotes should be read in conjunction with the audited financial statements and footnotes included in our Annual Report on Form 10-K for the year ended December 31, 2022. The results for the interim periods shown in this report are not necessarily indicative of future financial results.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We operate our business in two segments: Land and Resource Management and Water Services and Operations. Our segments provide management with a comprehensive financial view of our key businesses. The segments enable the alignment of strategies and objectives of TPL and provide a framework for timely and rational allocation of resources within businesses. See Note 12, “Business Segment Reporting” for further information regarding our segments.</span></div> | ||
| us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
2 | segment | |
| us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates in the Preparation of Financial Statements</span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates. In the event estimates and/or assumptions prove to be different from actual amounts, adjustments are made in subsequent periods to reflect more current information.</span></div> | ||
| CY2023Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
654158000 | usd |
| CY2022Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
510834000 | usd |
| CY2023Q3 | us-gaap |
Escrow Deposit
EscrowDeposit
|
5380000 | usd |
| CY2022Q4 | us-gaap |
Escrow Deposit
EscrowDeposit
|
6348000 | usd |
| CY2023Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
659538000 | usd |
| CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
517182000 | usd |
| us-gaap |
Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
|
<div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Reclassifications</span></div><div style="text-align:justify;text-indent:36pt"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain financial information on the condensed consolidated balance sheet as of December 31, 2022 and condensed consolidated statement of income and total comprehensive income for the three and nine months ended September 30, 2022 has been revised to conform to the current year presentation. These revisions include a balance sheet reclassification of $454,000 of other taxes payable previously included in accounts payable and accrued expenses to ad valorem and other taxes payable and an income statement reclassification of $33,000 and $97,000 of property taxes previously included in general and administrative expenses to ad valorem and other taxes for the three and nine months ended September 30, 2022, respectively.</span></div> | ||
| CY2022Q3 | tpl |
Increase Decrease In Accrued Taxes Other Than Income Taxes
IncreaseDecreaseInAccruedTaxesOtherThanIncomeTaxes
|
33000 | usd |
| tpl |
Increase Decrease In Accrued Taxes Other Than Income Taxes
IncreaseDecreaseInAccruedTaxesOtherThanIncomeTaxes
|
97000 | usd | |
| CY2023Q3 | tpl |
Surface Rights In Acres
SurfaceRightsInAcres
|
798999 | acre |
| CY2023Q3 | tpl |
Land Surface Rights Carrying Value
LandSurfaceRightsCarryingValue
|
0 | usd |
| CY2022Q4 | tpl |
Surface Rights In Acres
SurfaceRightsInAcres
|
817060 | acre |
| CY2022Q4 | tpl |
Land Surface Rights Carrying Value
LandSurfaceRightsCarryingValue
|
0 | usd |
| CY2023Q3 | us-gaap |
Area Of Real Estate Property
AreaOfRealEstateProperty
|
69447 | acre |
| CY2023Q3 | us-gaap |
Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
|
130024000 | usd |
| CY2022Q4 | us-gaap |
Area Of Real Estate Property
AreaOfRealEstateProperty
|
57306 | acre |
| CY2022Q4 | us-gaap |
Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
|
109704000 | usd |
| CY2023Q3 | tpl |
Total Real Estateand Land Surface Rights Acres
TotalRealEstateandLandSurfaceRightsAcres
|
868446 | acre |
| CY2023Q3 | tpl |
Total Real Estate Including Land Surface Rights
TotalRealEstateIncludingLandSurfaceRights
|
130024000 | usd |
| CY2022Q4 | tpl |
Total Real Estateand Land Surface Rights Acres
TotalRealEstateandLandSurfaceRightsAcres
|
874366 | acre |
| CY2022Q4 | tpl |
Total Real Estate Including Land Surface Rights
TotalRealEstateIncludingLandSurfaceRights
|
109704000 | usd |
| CY2022Q4 | tpl |
Total Royalty Interests Gross
TotalRoyaltyInterestsGross
|
47928000 | usd |
| CY2023Q3 | tpl |
Accumulated Depreciation Royalty Interests
AccumulatedDepreciationRoyaltyInterests
|
4281000 | usd |
| CY2022Q4 | tpl |
Accumulated Depreciation Royalty Interests
AccumulatedDepreciationRoyaltyInterests
|
2903000 | usd |
| CY2023Q3 | tpl |
Total Royalty Interests
TotalRoyaltyInterests
|
47213000 | usd |
| CY2022Q4 | tpl |
Total Royalty Interests
TotalRoyaltyInterests
|
45025000 | usd |
| CY2023Q3 | us-gaap |
Depletion
Depletion
|
500000 | usd |
| CY2023Q3 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
145798000 | usd |
| CY2022Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
135482000 | usd |
| CY2023Q3 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
59198000 | usd |
| CY2022Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
50004000 | usd |
| CY2023Q3 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
86600000 | usd |
| CY2022Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
85478000 | usd |
| CY2023Q3 | us-gaap |
Depreciation
Depreciation
|
3000000 | usd |
| CY2022Q3 | us-gaap |
Depreciation
Depreciation
|
3600000 | usd |
| us-gaap |
Depreciation
Depreciation
|
9300000 | usd | |
| CY2023Q3 | tpl |
Royalty Interest Acquired
RoyaltyInterestAcquired
|
51494000 | usd |
| CY2022Q4 | tpl |
Royalty Interest Acquired
RoyaltyInterestAcquired
|
47928000 | usd |
| CY2023Q3 | tpl |
Total Royalty Interests Gross
TotalRoyaltyInterestsGross
|
51494000 | usd |
| CY2023Q3 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
21403000 | usd |
| CY2023Q3 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
95000 | usd |
| CY2023Q3 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
21308000 | usd |
| CY2023Q3 | us-gaap |
Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
|
P19Y | |
| us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
21400000 | usd | |
| CY2023Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
|
1100000 | usd |
| CY2023Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
|
1100000 | usd |
| CY2023Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
|
1100000 | usd |
| CY2023Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
|
1100000 | usd |
| CY2023Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
| CY2023Q3 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
2789000 | usd |
| CY2022Q3 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
2121000 | usd |
| CY2023Q3 | us-gaap |
Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
|
600000 | usd |
| CY2022Q3 | us-gaap |
Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
|
400000 | usd |
| CY2023Q3 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
|
11400000 | usd |
| us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
|
P1Y3M18D | ||
| CY2023Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
134937000 | usd |
| CY2022Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
163975000 | usd |
| us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
372429000 | usd | |
| us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
440702000 | usd | |
| CY2023Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
29363000 | usd |
| CY2022Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
34138000 | usd |
| us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
79894000 | usd | |
| us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
94071000 | usd | |
| CY2023Q3 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.218 | |
| CY2022Q3 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.208 | |
| us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.215 | ||
| us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.213 | ||
| CY2023Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
105574000 | usd |
| CY2022Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
129837000 | usd |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
292535000 | usd | |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
346631000 | usd | |
| CY2023Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
7675521 | shares |
| CY2022Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
7714796 | shares |
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
7684691 | shares | |
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
7729866 | shares | |
| CY2023Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
13.75 | |
| CY2022Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
16.83 | |
| us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
38.07 | ||
| us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
44.84 | ||
| CY2023Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
7675521 | shares |
| CY2022Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
7714796 | shares |
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
7684691 | shares | |
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
7729866 | shares | |
| CY2023Q3 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
6253 | shares |
| CY2022Q3 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
5425 | shares |
| us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
6294 | shares | |
| us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
3639 | shares | |
| CY2023Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
7681774 | shares |
| CY2022Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
7720221 | shares |
| us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
7690985 | shares | |
| us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
7733505 | shares | |
| CY2023Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
13.74 | |
| CY2022Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
16.82 | |
| us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
38.04 | ||
| us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
44.82 | ||
| CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
772887000 | usd |
| CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
86568000 | usd |
| CY2023Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
2370000 | usd |
| CY2023Q1 | us-gaap |
Excise Taxes Collected
ExciseTaxesCollected
|
67000 | usd |
| CY2023Q1 | us-gaap |
Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
|
6749000 | usd |
| CY2023Q1 | us-gaap |
Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
|
939000 | usd |
| CY2023Q1 | us-gaap |
Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
|
-6000 | usd |
| CY2023Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-25000 | usd |
| CY2023Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
829051000 | usd |
| CY2023Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
100393000 | usd |
| CY2023Q2 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
2806000 | usd |
| CY2023Q2 | us-gaap |
Excise Taxes Collected
ExciseTaxesCollected
|
165000 | usd |
| CY2023Q2 | us-gaap |
Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
|
19708000 | usd |
| CY2023Q2 | us-gaap |
Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
|
-8000 | usd |
| CY2023Q2 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-26000 | usd |
| CY2023Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
887550000 | usd |
| CY2023Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
105574000 | usd |
| CY2023Q3 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
2752000 | usd |
| CY2023Q3 | us-gaap |
Excise Taxes Collected
ExciseTaxesCollected
|
50000 | usd |
| CY2023Q3 | us-gaap |
Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
|
5995000 | usd |
| CY2023Q3 | us-gaap |
Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
|
345000 | usd |
| CY2023Q3 | us-gaap |
Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
|
-7000 | usd |
| CY2023Q3 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-26000 | usd |
| CY2023Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
964558000 | usd |
| CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
651711000 | usd |
| CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
97900000 | usd |
| CY2022Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
1481000 | usd |
| CY2022Q1 | us-gaap |
Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
|
2000 | usd |
| CY2022Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
8000 | usd |
| CY2022Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
727876000 | usd |
| CY2022Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
118894000 | usd |
| CY2022Q2 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
1811000 | usd |
| CY2022Q2 | us-gaap |
Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
|
25534000 | usd |
| CY2022Q2 | us-gaap |
Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
|
2000 | usd |
| CY2022Q2 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
8000 | usd |
| CY2022Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
645281000 | usd |
| CY2022Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
129837000 | usd |
| CY2022Q3 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
2091000 | usd |
| CY2022Q3 | us-gaap |
Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
|
32915000 | usd |
| CY2022Q3 | us-gaap |
Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
|
3000 | usd |
| CY2022Q3 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
8000 | usd |
| CY2022Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
721170000 | usd |
| CY2022Q4 | us-gaap |
Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
|
250000000 | usd |
| CY2023Q3 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
157967000 | usd |
| CY2022Q3 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
191111000 | usd |
| us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
464938000 | usd | |
| us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
514716000 | usd | |
| CY2023Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
105574000 | usd |
| CY2022Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
129837000 | usd |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
346631000 | usd | |
| CY2023Q3 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
5243000 | usd |
| CY2022Q3 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
1808000 | usd |
| us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
10387000 | usd | |
| us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
12155000 | usd | |
| CY2023Q3 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
3584000 | usd |
| CY2022Q3 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
3917000 | usd |
| us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
10881000 | usd | |
| us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
12223000 | usd | |
| CY2023Q3 | us-gaap |
Assets
Assets
|
1079318000 | usd |
| CY2022Q4 | us-gaap |
Assets
Assets
|
877427000 | usd |
| CY2023Q3 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
86600000 | usd |
| CY2022Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
85478000 | usd |
| CY2023Q3 | tpl |
Share Of Oil And Gas Produced
ShareOfOilAndGasProduced
|
21800 | boe |
| CY2022Q3 | tpl |
Share Of Oil And Gas Produced
ShareOfOilAndGasProduced
|
23400 | boe |
| tpl |
Share Of Oil And Gas Produced
ShareOfOilAndGasProduced
|
22600 | boe | |
| tpl |
Share Of Oil And Gas Produced
ShareOfOilAndGasProduced
|
21300 | boe | |
| CY2023Q3 | tpl |
Number Of Oil And Gas Wells
NumberOfOilAndGasWells
|
596 | well |
| CY2022Q4 | tpl |
Number Of Oil And Gas Wells
NumberOfOilAndGasWells
|
584 | well |
