Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Income and Total Comprehensive Income

v3.20.4
Consolidated Statements of Income and Total Comprehensive Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Revenues:      
Total revenues $ 302,554 $ 490,496 $ 300,220
Expenses:      
Salaries and related employee expenses 32,173 35,041 18,433
Water service-related expenses 14,233 20,808 11,168
General and administrative expenses 9,751 9,540 4,685
Legal and professional fees 10,778 16,403 2,498
Land sales expenses 3,973 225 19
Depreciation, depletion and amortization 14,395 8,906 2,583
Total operating expenses 85,303 90,923 39,386
Operating income 217,251 399,573 260,834
Other income, net 2,411 2,682 916
Income before income taxes 219,662 402,255 261,750
Income tax expense (benefit):      
Current 46,002 57,492 37,200
Deferred (2,389) 26,035 14,814
Total income tax expense 43,613 83,527 52,014
Net income 176,049 318,728 209,736
Amortization of net actuarial costs, net of income taxes of $14, $10, and $14 for the years ended December 31, 2020, 2019 and 2018, respectively 53 36 50
Net actuarial loss on pension plan, net of income taxes of $(342), $(111), and $(38) as of December 31, 2020, 2019 and 2018, respectively (1,285) (419) (144)
Total other comprehensive loss (1,232) (383) (94)
Total comprehensive income $ 174,817 $ 318,345 $ 209,642
Net income per sub-share certificate - basic and diluted (in USD per share) $ 22.70 $ 41.09 $ 26.93
Weighted average number of Sub-share Certificates outstanding (in shares) 7,756,156 7,756,437 7,787,407
Oil and gas royalties      
Revenues:      
Total revenues $ 137,948 $ 154,729 $ 123,834
Easements and other surface-related income      
Revenues:      
Total revenues 92,038 115,362 88,739
Water sales and royalties      
Revenues:      
Total revenues 54,862 84,949 63,913
Sale of oil and gas royalty interests      
Revenues:      
Total revenues 0 0 18,875
Land sales      
Revenues:      
Total revenues 17,383 135,020 4,367
Other operating revenue      
Revenues:      
Total revenues $ 323 $ 436 $ 492