Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Income and Total Comprehensive Income

v3.10.0.1
Consolidated Statements of Income and Total Comprehensive Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Revenues:      
Revenue $ 300,220 $ 154,634 $ 66,109
Expenses:      
Salaries and related employee expenses 18,433 3,774 1,446
Water service-related expenses 11,168 491 0
General and administrative expenses 4,704 1,523 931
Legal and professional fees 2,498 3,523 778
Depreciation and amortization 2,583 376 43
Total Expenses 39,386 9,687 3,198
Operating income 260,834 144,947 62,911
Other income (expense) 916 114 (15)
Income before income taxes 261,750 145,061 62,896
Income taxes:      
Current 37,200 46,864 22,041
Deferred 14,814 966 (1,420)
Income Taxes 52,014 47,830 20,621
Net income 209,736 97,231 42,275
Amortization of net actuarial costs and prior service costs, net of income taxes of $14, $38, and $49, respectively 50 70 91
Net actuarial (loss) gain on pension plan net of income taxes of ($38), $46, and $107, respectively (144) 86 198
Total other comprehensive gain (loss) (94) 156 289
Total comprehensive income $ 209,642 $ 97,387 $ 42,564
Net income per Sub-share Certificate - basic and diluted (in dollars per share) $ 26.93 $ 12.38 $ 5.29
Weighted average number of Sub-share Certificates outstanding (in shares) 7,787,407 7,854,705 7,989,030
Oil and gas royalties      
Revenues:      
Revenue $ 123,834 $ 58,418 $ 28,385
Easements and sundry income      
Revenues:      
Revenue 88,739 69,957 26,156
Water sales and royalties      
Revenues:      
Revenue 63,913 25,536 8,125
Sale of oil and gas royalty interests      
Revenues:      
Revenue 18,875 0 0
Land sales      
Revenues:      
Revenue 4,367 220 2,945
Other operating income      
Revenues:      
Revenue $ 492 $ 503 $ 498