Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Income and Total Comprehensive Income

v3.19.2
Condensed Consolidated Statements of Income and Total Comprehensive Income - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Revenues:        
Total revenues $ 87,310 $ 73,844 $ 278,634 $ 133,851
Expenses:        
Salaries and related employee expenses 7,741 3,835 14,205 6,399
Water service-related expenses 5,723 2,588 10,301 3,894
General and administrative expenses 2,095 1,013 4,237 1,692
Legal and professional fees 7,858 420 9,641 1,067
Depreciation and amortization 1,451 483 2,655 813
Total operating expenses 24,868 8,339 41,039 13,865
Operating income 62,442 65,505 237,595 119,986
Other income 437 160 830 290
Income before income taxes 62,879 65,665 238,425 120,276
Income tax expense (benefit):        
Current 19,018 13,162 33,566 23,982
Deferred (5,725) 0 15,275 0
Total income tax expense 13,293 13,162 48,841 23,982
Net income 49,586 52,503 189,584 96,294
Other comprehensive income — periodic pension costs, net of income taxes of $2, $3, $5 and $7, respectively 9 13 18 26
Total comprehensive income $ 49,595 $ 52,516 $ 189,602 $ 96,320
Weighted average number of Sub-share Certificates outstanding (in shares) 7,756,156 7,803,162 7,757,199 7,808,064
Net income per Sub-share Certificate — basic and diluted (in dollars per share) $ 6.39 $ 6.73 $ 24.44 $ 12.33
Cash dividends per Sub-share Certificate (in dollars per share) $ 0 $ 0 $ 6.00 $ 4.05
Oil and gas royalties        
Revenues:        
Total revenues $ 39,641 $ 30,278 $ 72,854 $ 56,825
Easements and other surface-related income        
Revenues:        
Total revenues 22,357 27,799 53,724 44,777
Water sales and royalties        
Revenues:        
Total revenues 20,430 15,643 43,413 29,250
Land sales        
Revenues:        
Total revenues 4,774 0 108,399 2,750
Other operating revenue        
Revenues:        
Total revenues $ 108 $ 124 $ 244 $ 249