Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
ASSETS    
Cash and cash equivalents $ 119,647 $ 79,580
Accrued receivables 48,750 17,773
Other assets 7,683 849
Prepaid income taxes 9,398 1,202
Property, plant and equipment, net of accumulated depreciation of $3,012 and $463 in 2018 and 2017, respectively 64,802 19,516
Real estate acquired 10,492 1,115
Royalty interests acquired 24,303 0
Real estate and royalty interests assigned through the 1888 Declaration of Trust, no value assigned:    
Total assets 285,075 120,035
LIABILITIES AND CAPITAL    
Accounts payable and accrued expenses 10,505 5,608
Income taxes payable 1,607 851
Deferred taxes payable 14,903 114
Unearned revenue 13,369 8,364
Total liabilities 40,384 14,937
Commitments and contingencies 0 0
Capital:    
Certificates of Proprietary Interest, par value $100 each; none outstanding 0 0
Sub-share Certificates in Certificates of Proprietary Interest, par value $0.03 1/3 each; outstanding 7,762,414 and 7,821,599 Sub-shares in 2018 and 2017, respectively 0 0
Accumulated other comprehensive loss (1,078) (804)
Net proceeds from all sources 245,769 105,902
Total capital 244,691 105,098
Total liabilities and capital 285,075 120,035
Land (surface rights)    
Real estate and royalty interests assigned through the 1888 Declaration of Trust, no value assigned:    
Land (surface rights) 0 0
1/16th nonparticipating perpetual royalty interest    
Real estate and royalty interests assigned through the 1888 Declaration of Trust, no value assigned:    
1/16th nonparticipating perpetual royalty interest 0 0
1/128th nonparticipating perpetual royalty interest    
Real estate and royalty interests assigned through the 1888 Declaration of Trust, no value assigned:    
1/128th nonparticipating perpetual royalty interest $ 0 $ 0