Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Income and Total Comprehensive Income

v3.19.3
Condensed Consolidated Statements of Income and Total Comprehensive Income - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenues:        
Total revenues $ 98,530 $ 73,168 $ 377,164 $ 207,019
Expenses:        
Salaries and related employee expenses 8,537 4,050 22,742 10,449
Water service-related expenses 5,122 3,707 15,423 7,601
General and administrative expenses 2,864 1,190 7,102 2,882
Legal and professional fees 5,558 556 15,198 1,623
Depreciation and amortization 2,631 706 5,286 1,519
Total operating expenses 24,712 10,209 65,751 24,074
Operating income 73,818 62,959 311,413 182,945
Other income 941 236 1,771 526
Income before income taxes 74,759 63,195 313,184 183,471
Income tax expense (benefit):        
Current 9,918 12,433 43,485 36,415
Deferred 4,819 0 20,093 0
Total income tax expense 14,737 12,433 63,578 36,415
Net income 60,022 50,762 249,606 147,056
Other comprehensive income — periodic pension costs, net of income taxes of $2, $3, $7 and $10, respectively 9 13 27 39
Total comprehensive income $ 60,031 $ 50,775 $ 249,633 $ 147,095
Weighted average number of Sub-share Certificates outstanding 7,756,156 7,786,692 7,756,643 7,797,262
Net income per Sub-share Certificate — basic and diluted $ 7.74 $ 6.52 $ 32.18 $ 18.86
Cash dividends per Sub-share Certificate (in dollars per share) $ 0 $ 0 $ 6.00 $ 4.05
Oil and gas royalties        
Revenues:        
Total revenues $ 38,259 $ 31,253 $ 111,113 $ 88,078
Easements and other surface-related income        
Revenues:        
Total revenues 33,911 22,068 87,635 66,845
Water sales and royalties        
Revenues:        
Total revenues 21,654 18,178 65,067 47,428
Land sales        
Revenues:        
Total revenues 4,621 1,543 113,020 4,293
Other operating revenue        
Revenues:        
Total revenues $ 85 $ 126 $ 329 $ 375