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

Annual report pursuant to Section 13 and 15(d)

Note 4 - Real Estate Acquired

Note 4 - Real Estate Acquired

12 Months Ended

Dec. 31, 2011

Property, Plant and Equipment Disclosure [Text Block]

(4) Real Estate Acquired

Real estate acquired included the following activity for the years ended December 31, 2011 and 2010:

	2011						2010
	Acres			Book Value			Acres		Book Value
Balance at January 1:		10,793.23		$	1,161,504			10,793.23	$	1,161,504

Additions		—			—			—		—
Sales		(668.45	)		(36,445	)		—		—
Balance at December 31:		10,124.78		$	1,125,059			10,793.23	$	1,161,504

No valuation allowance was necessary at December 31, 2011 and 2010.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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