Texas Pacific Land Corporation Annual report pursuant to Section 13 and 15(d)

Business Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2019

Segment financial results were as follows (in thousands):


	Years Ended December 31,
	2019		2018		2017
Revenues:
Land and resource management	$	363,328	$	211,476	$	123,340
Water services and operations	127,168		88,744		31,294
Total consolidated revenues	$	490,496	$	300,220	$	154,634

Net income:
Land and resource management	$	258,366	$	159,611	$	78,468
Water services and operations	60,362		50,125		18,763
Total consolidated net income	$	318,728	$	209,736	$	97,231

Capital Expenditures:
Land and resource management	$	1,603	$	2,790	$	920
Water services and operations	30,606		45,088		17,827
Total capital expenditures	$	32,209	$	47,878	$	18,747

Depreciation, depletion and amortization:
Land and resource management	$	1,201	$	506	$	136
Water services and operations	7,705		2,077		240
Total depreciation, depletion and amortization	$	8,906	$	2,583	$	376

The following table presents total assets and property, plant and equipment, net by segment (in thousands):


	December 31, 2019		December 31, 2018
Assets:
Land and resource management	$	467,758	$	198,922
Water services and operations	130,418		86,153
Total consolidated assets	$	598,176	$	285,075

Property, plant and equipment, net:
Land and resource management	$	4,359	$	3,720
Water services and operations	83,964		61,082
Total consolidated property, plant and equipment, net	$	88,323	$	64,802