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

Business Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2019

Segment financial results were as follows for the three and six months ended June 30, 2019 and 2018 (in thousands):



	Three Months Ended June 30,				Six Months Ended June 30,
	2019		2018		2019		2018
Revenues:
Land and resource management	$	58,688	$	52,376	$	219,147	$	95,129
Water services and operations	28,622		21,468		59,487		38,722
Total consolidated revenues	$	87,310	$	73,844	$	278,634	$	133,851

Net income:
Land and resource management	$	37,194	$	40,505	$	160,311	$	73,315
Water services and operations	12,392		11,998		29,273		22,979
Total consolidated net income	$	49,586	$	52,503	$	189,584	$	96,294

Capital expenditures:
Land and resource management	$	881	$	303	$	1,415	$	1,555
Water services and operations	12,472		19,420		21,185		30,009
Total capital expenditures	$	13,353	$	19,723	$	22,600	$	31,564

Depreciation and amortization:
Land and resource management	$	261	$	100	$	438	$	170
Water services and operations	1,190		383		2,217		643
Total depreciation and amortization	$	1,451	$	483	$	2,655	$	813

The following table presents total assets and property, plant and equipment, net by segment as of June 30, 2019 and December 31, 2018 (in thousands):



	June 30, 2019		December 31, 2018
Assets:
Land and resource management	$	337,941	$	198,922
Water services and operations	125,671		86,153
Total consolidated assets	$	463,612	$	285,075

Property, plant and equipment, net:
Land and resource management	$	4,739	$	3,720
Water services and operations	80,053		61,082
Total consolidated property, plant and equipment, net	$	84,792	$	64,802