Texas Pacific Land Corporation Annual report pursuant to Section 13 and 15(d)

Business Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2020

Segment financial results were as follows (in thousands):


	Years Ended December 31,
	2020		2019		2018
Revenues:
Land and resource management	$	195,132	$	363,328	$	211,476
Water services and operations	107,422		127,168		88,744
Total consolidated revenues	$	302,554	$	490,496	$	300,220

Net income:
Land and resource management	$	127,977	$	258,366	$	159,611
Water services and operations	48,072		60,362		50,125
Total consolidated net income	$	176,049	$	318,728	$	209,736

Capital Expenditures:
Land and resource management	$	152	$	1,603	$	2,790
Water services and operations	4,934		30,606		45,088
Total capital expenditures	$	5,086	$	32,209	$	47,878

Depreciation, depletion and amortization:
Land and resource management	$	1,514	$	1,201	$	506
Water services and operations	12,881		7,705		2,077
Total depreciation, depletion and amortization	$	14,395	$	8,906	$	2,583

The following table presents total assets and property, plant and equipment, net by segment (in thousands):


	December 31, 2020		December 31, 2019
Assets:
Land and resource management	$	460,053	$	467,758
Water services and operations	111,582		130,418
Total consolidated assets	$	571,635	$	598,176

Property, plant and equipment, net:
Land and resource management	$	3,527	$	4,359
Water services and operations	75,740		83,964
Total consolidated property, plant and equipment, net	$	79,267	$	88,323