Texas Pacific Land Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Changes in Equity (Tables)

Changes in Equity (Tables)

9 Months Ended

Sep. 30, 2022

The following tables present changes in our equity for the nine months ended September 30, 2022 and 2021 (in thousands, except shares and per share amounts):


	Common Stock			Treasury Stock			Additional Paid-in Capital		Accum. Other Comp. Inc/(Loss)		Retained Earnings		Total Equity
	Shares	Amount		Shares	Amount
For the nine months ended September 30, 2022:
Balances as of December 31, 2021	7,744,695	$	78	11,461	$	(15,417)	$	28	$	(1,007)	$	668,029	$	651,711
Net income	—	—		—	—		—		—		97,900		97,900
Dividends paid — $3.00 per share of common stock	—	—		—	—		—		—		(23,224)		(23,224)
Share-based compensation, net of forfeitures	595	—		(595)	800		1,477		—		(796)		1,481
Periodic pension costs, net of income taxes of $2	—	—		—	—		—		8		—		8
Balances as of March 31, 2022	7,745,290	78		10,866	(14,617)		1,505		(999)		741,909		727,876
Net income	—	—		—	—		—		—		118,894		118,894
Dividends paid — $3.00 per share of common stock	—	—		—	—		—		—		(23,188)		(23,188)
Special dividends paid — $20.00 per share of common stock	—	—		—	—		—		—		(154,586)		(154,586)
Share-based compensation, net of forfeitures	104	—		(104)	140		1,851		—		(180)		1,811
Repurchases of common stock	(17,478)	—		17,478	(25,534)		—		—		—		(25,534)
Periodic pension costs, net of income taxes of $2	—	—		—	—		—		8		—		8
Balances as of June 30, 2022	7,727,916	$	78	28,240	$	(40,011)	$	3,356	$	(991)	$	682,849	$	645,281
Net income	—	—		—	—		—		—		129,837		129,837
Dividends paid — $3.00 per share of common stock	—	—		—	—		—		—		(23,132)		(23,132)
Share-based compensation, net of forfeitures	—	—		—	—		2,121		—		(30)		2,091
Repurchases of common stock	(19,071)	—		19,071	(32,915)		—		—		—		(32,915)
Periodic pension costs, net of income taxes of $3	—	—		—	—		—		8		—		8
Balances as of September 30, 2022	7,708,845	$	78	47,311	$	(72,926)	$	5,477	$	(983)	$	789,524	$	721,170


	Sub-share Certificates	Common Stock				Treasury Stock					Accum. Other Comp. Inc/(Loss)		Retained Earnings		Net Proceeds From All Sources		Total Equity
	Shares	Shares	Amount		Shares			Amount
For the nine months ended September 30, 2021:
Balances as of December 31, 2020	7,756,156	—	$	—		$	—		$	—	$	(2,693)	$	—	$	487,877	$	485,184
Net income	—	—	—			—			—		—		50,052		—		50,052
Dividends paid — $2.75 per share of common stock	—	—	—			—			—		—		(21,329)		—		(21,329)
Conversion of Sub-shares into shares of common stock	(7,756,156)	7,756,156	78			—			—		—		487,799		(487,877)		—
Periodic pension costs, net of income taxes of $8	—	—	—			—			—		28		—		—		28
Balances as of March 31, 2021	—	7,756,156	78			—			—		(2,665)		516,522		—		513,935
Net income	—	—	—			—			—		—		57,046		—		57,046
Dividends paid — $2.75 per share of common stock	—	—	—			—			—		—		(21,329)		—		(21,329)
Repurchases of common stock	—	(1,633)	—			1,633			(2,504)		—		—		—		(2,504)
Periodic pension costs, net of income taxes of $8	—	—	—			—			—		29		—		—		29
Balances as of June 30, 2021	—	7,754,523	78			1,633			(2,504)		(2,636)		552,239		—		547,177
Net income	—	—	—			—			—		—		83,837		—		83,837
Dividends paid — $2.75 per share of common stock	—	—	—			—			—		—		(21,312)		—		(21,312)
Repurchases of common stock	—	(6,179)	—			6,179			(8,689)		—		—		—		(8,689)
Periodic pension costs, net of income taxes of $8	—	—	—			—			—		29		—		—		29
Balances as of September 30, 2021	—	7,748,344	$	78		7,812			$	(11,193)	$	(2,607)	$	614,764	$	—	$	601,042