Balance Sheet: Assets
Quarterly Data
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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Texas Pacific Land Corp. pages available for free this week:
- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Analysis of Liquidity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Dividend Discount Model (DDM)
- Price to Operating Profit (P/OP) since 2005
- Price to Book Value (P/BV) since 2005
- Price to Sales (P/S) since 2005
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Texas Pacific Land Corp., consolidated balance sheet: assets (quarterly data)
US$ in thousands
Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
- Cash and Cash Equivalents
- Cash and cash equivalents demonstrated a generally upward trend from March 2019 to June 2024, starting at approximately $113 million and peaking above $894 million in June 2024. The figure experienced some short-term declines, notably in the latter half of 2020 and again in the final quarter of 2024 with a sharp decrease to about $534 million.
- Accounts Receivable and Accrued Receivables, Net
- Accounts receivable showed fluctuations throughout the period but overall increased from about $66 million in the first quarter of 2019 to roughly $123 million in the third quarter of 2024. Peaks were observed at the end of 2021 and mid-2022, followed by some variability, reflecting changing credit conditions or sales volume.
- Prepaid Expenses and Other Current Assets
- This item was unavailable in early periods but appeared in late 2019 with relatively low values, then generally increased through 2023 before spiking dramatically to over $48 million in the third quarter of 2024, signaling a significant rise in prepaid or other current assets toward the end of the analysis period.
- Tax Like-Kind Exchange Escrow
- The amounts peaked near $61 million in early 2019 before decreasing sharply to negligible levels by mid-2019. Some intermittent amounts were recorded through mid-2023, though they remained relatively low, indicating a winding down or reclassification of these escrow balances.
- Prepaid Income Taxes
- Prepaid income taxes appeared sporadically in the dataset with modest amounts around $4 million during 2022 and 2024, suggesting minimal but consistent prepayments in select periods.
- Current Assets
- Total current assets initially rose from about $240 million in early 2019 to a peak of over $963 million in June 2024 before falling back to approximately $709 million in September 2024, broadly mirroring the movement in cash and receivables but with more pronounced variation at the end of the period.
- Real Estate Acquired
- Real estate acquired increased from $57 million in early 2019 to about $143 million by late 2024, showing steady growth with a notable step up after mid-2023, indicating ongoing investment in land holdings.
- Property, Plant and Equipment, Net
- The net book value of property, plant, and equipment showed moderate growth from about $73 million in early 2019 to roughly $119 million by late 2024. Some dips occurred in 2020, possibly reflecting disposals or depreciation ahead of a recovery and gradual asset additions later.
- Royalty Interests Acquired, Net
- Royalty interests remained largely stable between $27 million and approximately $46 million in most quarters until a significant spike to $164 million in September 2024, representing a substantial acquisition or revaluation of royalty interests during the latter part of the period.
- Intangible Assets, Net
- Intangible assets were reported only from early 2023 onwards, consistently in the range of $20 million to nearly $36 million by late 2024, indicating new recognition or acquisitions of intangible assets within the recent periods.
- Other Assets
- Other assets fluctuated over time but remained relatively minor, ranging mostly between $2.5 million and $8.6 million. A slight increase towards mid-2023 was followed by a stabilization around $5 million in later quarters.
- Noncurrent Assets
- Noncurrent assets expanded steadily from approximately $164 million in early 2019 to about $467 million in late 2024, suggesting ongoing capital investments and asset growth in long-term holdings.
- Total Assets
- Total assets increased significantly from approximately $405 million in March 2019 to a peak of around $1.32 billion in June 2024, before declining to about $1.18 billion by September 2024. This trend demonstrates overall asset growth driven by increases in cash, receivables, property, and royalty interests, with some volatility in the final quarter shown.