Condensed Consolidated Statements of Income and Total Comprehensive Income - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2018 |
Sep. 30, 2017 |
Sep. 30, 2018 |
Sep. 30, 2017 |
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| Income: | ||||
| Oil and gas royalties | $ 31,253 | $ 20,481 | $ 88,078 | $ 43,252 |
| Easements and sundry income | 22,068 | 23,454 | 66,845 | 51,247 |
| Water sales and royalties | 18,178 | 7,917 | 47,428 | 19,584 |
| Land sales | 1,543 | 0 | 4,293 | 220 |
| Other operating income | 126 | 125 | 375 | 374 |
| Total income | 73,168 | 51,977 | 207,019 | 114,677 |
| Expenses: | ||||
| Salaries and related employee benefits | 3,703 | 671 | 9,548 | 1,637 |
| Water service-related expenses | 3,707 | 201 | 7,601 | 211 |
| General and administrative expenses | 1,405 | 511 | 3,390 | 1,122 |
| Legal and professional fees | 556 | 1,011 | 1,623 | 2,630 |
| Depreciation and amortization | 706 | 209 | 1,519 | 313 |
| Taxes, other than income taxes | 130 | 66 | 387 | 183 |
| Trustees’ compensation | 2 | 2 | 6 | 6 |
| Total expenses | 10,209 | 2,671 | 24,074 | 6,102 |
| Operating income | 62,959 | 49,306 | 182,945 | 108,575 |
| Other income | 236 | 18 | 526 | 31 |
| Income before income taxes | 63,195 | 49,324 | 183,471 | 108,606 |
| Income taxes | 12,433 | 16,322 | 36,415 | 35,995 |
| Net income | 50,762 | 33,002 | 147,056 | 72,611 |
| Other comprehensive income — periodic pension costs, net of income taxes of $3, $9, $10, and $28, respectively | 13 | 17 | 39 | 52 |
| Total comprehensive income | $ 50,775 | $ 33,019 | $ 147,095 | $ 72,663 |
| Weighted average number of Sub-share Certificates outstanding (in shares) | 7,786,692 | 7,851,916 | 7,797,262 | 7,872,554 |
| Net income per Sub-share Certificate — basic and diluted (in dollars per share) | $ 6.52 | $ 4.20 | $ 18.86 | $ 9.22 |
| Cash dividends per Sub-share Certificate (in dollars per share) | $ 0 | $ 0 | $ 4.05 | $ 1.35 |
| X | ||||||||||
- Definition Income generated from easement contracts and leasing arrangements with respect to land owned. No definition available.
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| X | ||||||||||
- Definition Income generated from water sales and royalties. No definition available.
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| X | ||||||||||
- Definition Aggregate dividends paid during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. No definition available.
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| X | ||||||||||
- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate amount of expenditures for salaries, wages, profit sharing and incentive compensation, and other employee benefits, including equity-based compensation, and pension and other postretirement benefit expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Revenue from the sale of land in the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
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| X | ||||||||||
- Definition Amount after tax and reclassification adjustments of other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The total amount of other operating income, the components of which are not separately disclosed on the income statement, from items that are associated with the entity's normal revenue producing operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Revenue earned during the period from the leasing or otherwise lending to a third party the entity's rights or title to certain property. Royalty revenue is derived from a percentage or stated amount of sales proceeds or revenue generated by the third party using the entity's property. Examples of property from which royalties may be derived include patents and oil and mineral rights. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition All taxes not related to income of the entity or excise or sales taxes levied on the revenue of the entity that are not reported elsewhere. These taxes could include production, real estate, personal property, and pump tax. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Fees charged annually for the professional services of a trustee, usually quoted as a percentage of the funds being managed. The fee for appointing an offshore Trustee is included in the trust price. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Cost incurred related to water production and may include cost of treatment plants, pumps, pipes and reservoir, purchased water, power and pump taxes as well as the cost of reducing water leakage. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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