Stock Analysis on Net
Stock Analysis on Net

Texas Pacific Land Corp. (NYSE:TPL)

This company has been moved to the archive! The financial data has not been updated since November 6, 2024.

Statement of Comprehensive Income 

Comprehensive income is the change in equity (net assets) of a business enterprise during a period from transactions and other events and circumstances from non-owners sources. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners.

Texas Pacific Land Corp., consolidated statement of comprehensive income

US$ in thousands

Microsoft Excel
12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Net income 405,645 446,362 269,980 176,049 318,728
Amortization of net actuarial costs, net of income taxes (103) 32 114 53 36
Net actuarial gain (loss) on pension plan, net of income taxes (582) 3,491 1,572 (1,285) (419)
Other comprehensive income (loss) (685) 3,523 1,686 (1,232) (383)
Comprehensive income 404,960 449,885 271,666 174,817 318,345

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Net Income
Net income exhibited a fluctuating trend over the five-year period. It decreased from 318,728 thousand US dollars in 2019 to 176,049 thousand US dollars in 2020, indicating a significant decline. However, this was followed by a recovery in 2021, reaching 269,980 thousand US dollars. The upward trajectory continued strongly in 2022 with net income rising to 446,362 thousand US dollars, representing the peak within the timeframe. In 2023, net income slightly decreased to 405,645 thousand US dollars, although it remained substantially higher than in the earlier years.
Amortization of Net Actuarial Costs (Net of Income Taxes)
This measure showed variability without a clear directional trend. It started at a low figure of 36 thousand US dollars in 2019 and increased moderately to 53 thousand in 2020. The value more than doubled in 2021 to 114 thousand US dollars but then decreased sharply to 32 thousand in 2022. The figure turned negative in 2023, registering a value of -103 thousand US dollars, indicating a possible reversal or adjustment in actuarial cost amortization in this final year.
Net Actuarial Gain (Loss) on Pension Plan (Net of Income Taxes)
The net actuarial gain/loss on the pension plan fluctuated notably. The item began with a loss of 419 thousand US dollars in 2019, which deepened to a loss of 1,285 thousand in 2020. In 2021, it reversed dramatically to a gain of 1,572 thousand US dollars and improved further to a gain of 3,491 thousand in 2022. In 2023, the trend reversed again, resulting in a loss of 582 thousand US dollars.
Other Comprehensive Income (Loss)
Other comprehensive income or loss closely mirrored the pattern of net actuarial gain/loss on the pension plan. Starting with a loss of 383 thousand US dollars in 2019, the loss increased to 1,232 thousand in 2020. In 2021 and 2022, other comprehensive income was positive at 1,686 thousand and 3,523 thousand US dollars respectively, reflecting an improving position. However, in 2023, it returned to a negative value of 685 thousand US dollars.
Comprehensive Income
Comprehensive income varied in line with net income and other comprehensive components. It decreased substantially from 318,345 thousand US dollars in 2019 to 174,817 thousand US dollars in 2020. Thereafter, it increased consistently, reaching 271,666 thousand in 2021 and peaking at 449,885 thousand US dollars in 2022. In 2023, comprehensive income slightly declined to 404,960 thousand US dollars, remaining elevated compared to earlier years.