Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Income and Total Comprehensive Income

v3.21.2
Condensed Consolidated Statements of Income and Total Comprehensive Income - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenues:        
Total revenues $ 123,693 $ 74,383 $ 303,780 $ 228,260
Expenses:        
Salaries and related employee expenses 8,542 7,678 31,792 27,235
Water service-related expenses 3,650 2,260 10,499 11,205
General and administrative expenses 2,844 1,883 8,491 7,290
Legal and professional fees 1,551 1,987 4,904 6,955
Land sales expenses 0 67 0 2,773
Depreciation, depletion and amortization 3,866 3,760 11,562 10,773
Total operating expenses 20,453 17,635 67,248 66,231
Operating income 103,240 56,748 236,532 162,029
Other income, net 513 1,287 924 2,296
Income before income taxes 103,753 58,035 237,456 164,325
Income tax expense 19,916 11,760 46,521 33,067
Net income 83,837 46,275 190,935 131,258
Other comprehensive income — periodic pension costs, net of income taxes of $8, $4, $23 and $11, respectively 29 13 86 40
Total comprehensive income $ 83,866 $ 46,288 $ 191,021 $ 131,298
Weighted average number of Sub-share Certificates outstanding, basic (in shares) 7,751,329 7,756,156 7,754,439 7,756,156
Weighted average number of Sub-share Certificates outstanding, diluted (in shares) 7,751,329 7,756,156 7,754,439 7,756,156
Net income per Sub-share Certificate — basic (in dollars per share) $ 10.82 $ 5.97 $ 24.62 $ 16.92
Net income per Sub-share Certificate — diluted (in dollars per share) 10.82 5.97 24.62 16.92
Cash dividends per Sub-share Certificate (in dollars per share) $ 2.75 $ 0 $ 8.25 $ 16.00
Oil and gas royalties        
Revenues:        
Total revenues $ 79,098 $ 31,758 $ 186,835 $ 94,631
Water sales        
Revenues:        
Total revenues 19,554 12,139 44,983 47,525
Produced water royalties        
Revenues:        
Total revenues 15,140 12,246 43,147 37,863
Easements and other surface-related income        
Revenues:        
Total revenues 9,832 6,690 27,856 32,107
Land sales        
Revenues:        
Total revenues 0 11,463 746 15,855
Other operating revenue        
Revenues:        
Total revenues $ 69 $ 87 $ 213 $ 279