Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Income and Total Comprehensive Income

v3.20.2
Condensed Consolidated Statements of Income and Total Comprehensive Income - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues:        
Total revenues $ 54,568 $ 87,310 $ 151,162 $ 278,634
Expenses:        
Salaries and related employee expenses 8,937 7,741 19,557 14,205
Water service-related expenses 2,165 5,723 8,945 10,301
General and administrative expenses 2,448 2,095 5,407 4,237
Legal and professional fees 2,610 7,858 4,968 9,641
Depreciation, depletion and amortization 3,678 1,451 7,013 2,655
Total operating expenses 19,838 24,868 45,890 41,039
Operating income 34,730 62,442 105,272 237,595
Other income 193 437 1,019 830
Income before income taxes 34,923 62,879 106,291 238,425
Income tax expense (benefit):        
Current 7,985 19,018 22,007 33,566
Deferred (645) (5,725) (700) 15,275
Total income tax expense 7,340 13,293 21,307 48,841
Net income 27,583 49,586 84,984 189,584
Other comprehensive income — periodic pension costs, net of income taxes of $3, $2, $7 and $5, respectively 13 9 27 18
Total comprehensive income $ 27,596 $ 49,595 $ 85,011 $ 189,602
Weighted average number of Sub-share Certificates outstanding (in shares) 7,756,156 7,756,156 7,756,156 7,757,199
Net income per Sub-share Certificate — basic and diluted (in dollars per share) $ 3.56 $ 6.39 $ 10.96 $ 24.44
Cash dividends per Sub-share Certificate (in dollars per share) $ 0 $ 0 $ 16.00 $ 6.00
Oil and gas royalties        
Revenues:        
Total revenues $ 20,513 $ 39,641 $ 62,873 $ 72,854
Easements and other surface-related income        
Revenues:        
Total revenues 24,767 22,357 51,034 53,724
Water sales and royalties        
Revenues:        
Total revenues 8,419 20,430 35,386 43,413
Land sales        
Revenues:        
Total revenues 787 4,774 1,687 108,399
Other operating revenue        
Revenues:        
Total revenues $ 82 $ 108 $ 182 $ 244