Adjustments to Current Assets
Adjustments to Total Assets
Adjustments to Current Liabilities
Adjustments to Total Liabilities
Adjustments to Stockholders’ Equity
Adjustments to Capitalization Table
Adjustments to Revenues
Adjustments to Reported Income

Texas Pacific Land Corp., adjusted current assets

US$ in thousands

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Current assets	862,464)	633,401)	526,513)	332,530)	366,640)
Adjustments
Add: Allowance for expected credit loss	200)	200)	100)	100)	—)
After Adjustment
Adjusted current assets	862,664)	633,601)	526,613)	332,630)	366,640)

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).

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Texas Pacific Land Corp., adjusted total assets

US$ in thousands

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Total assets	1,156,398)	877,427)	764,064)	571,635)	598,176)
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	—)
Add: Allowance for expected credit loss	200)	200)	100)	100)	—)
After Adjustment
Adjusted total assets	1,156,598)	877,627)	764,164)	571,735)	598,176)

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).

¹ Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

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Texas Pacific Land Corp., adjusted current liabilities

US$ in thousands

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Current liabilities	44,387)	39,595)	50,900)	21,376)	24,464)
Adjustments
Less: Unearned revenue, current	6,330)	4,488)	3,809)	3,997)	—)
After Adjustment
Adjusted current liabilities	38,057)	35,107)	47,091)	17,379)	24,464)

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).

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Texas Pacific Land Corp., adjusted total liabilities

US$ in thousands

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Total liabilities	113,202)	104,540)	112,353)	86,451)	86,039)
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	—)
Less: Deferred taxes payable²	42,365)	41,151)	38,948)	38,728)	40,827)
Less: Unearned revenue	31,336)	26,196)	24,258)	26,168)	17,381)
After Adjustment
Adjusted total liabilities	39,501)	37,193)	49,147)	21,555)	27,831)

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).

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Deferred taxes payable. See details »

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Texas Pacific Land Corp., adjusted total equity

US$ in thousands

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Total equity	1,043,196)	772,887)	651,711)	485,184)	512,137)
Adjustments
Less: Deferred taxes payable¹	(42,365)	(41,151)	(38,948)	(38,728)	(40,827)
Add: Allowance for expected credit loss	200)	200)	100)	100)	—)
Add: Unearned revenue	31,336)	26,196)	24,258)	26,168)	17,381)
After Adjustment
Adjusted total equity	1,117,097)	840,434)	715,017)	550,180)	570,345)

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).

¹ Deferred taxes payable. See details »

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Texas Pacific Land Corp., adjusted capitalization table

US$ in thousands

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Total reported debt	—)	—)	—)	—)	—)
Total equity	1,043,196)	772,887)	651,711)	485,184)	512,137)
Total reported capital	1,043,196)	772,887)	651,711)	485,184)	512,137)
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	—)
Add: Operating lease liabilities, current²	854)	833)	674)	795)	—)
Add: Operating lease liabilities, noncurrent³	1,170)	1,955)	1,445)	2,026)	3,367)
Adjusted total debt	2,024)	2,788)	2,119)	2,821)	3,367)
Adjustments to Equity
Less: Deferred taxes payable⁴	(42,365)	(41,151)	(38,948)	(38,728)	(40,827)
Add: Allowance for expected credit loss	200)	200)	100)	100)	—)
Add: Unearned revenue	31,336)	26,196)	24,258)	26,168)	17,381)
Adjusted total equity	1,117,097)	840,434)	715,017)	550,180)	570,345)
After Adjustment
Adjusted total capital	1,119,121)	843,222)	717,136)	553,001)	573,712)

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).

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Operating lease liabilities, current. See details »

³ Operating lease liabilities, noncurrent. See details »

⁴ Deferred taxes payable. See details »

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Texas Pacific Land Corp., adjusted revenues

US$ in thousands

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Revenues	631,595)	667,422)	450,958)	302,554)	490,496)
Adjustment
Add: Increase (decrease) in unearned revenue	5,140)	1,938)	(1,910)	8,787)	4,012)
After Adjustment
Adjusted revenues	636,735)	669,360)	449,048)	311,341)	494,508)

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).

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Texas Pacific Land Corp., adjusted net income

US$ in thousands

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Net income	405,645)	446,362)	269,980)	176,049)	318,728)
Adjustments
Add: Deferred income tax expense (benefit)¹	1,399)	1,263)	(228)	(2,389)	26,035)
Add: Increase (decrease) in allowance for expected credit loss	—)	100)	—)	100)	—)
Add: Increase (decrease) in unearned revenue	5,140)	1,938)	(1,910)	8,787)	4,012)
Add: Other comprehensive income (loss)	(685)	3,523)	1,686)	(1,232)	(383)
After Adjustment
Adjusted net income	411,499)	453,186)	269,528)	181,315)	348,392)

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).

¹ Deferred income tax expense (benefit). See details »

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Texas Pacific Land Corp. (NYSE:TPL)

Adjustments to Financial Statements

Adjustments to Current Assets

Adjustments to Total Assets

Adjustments to Current Liabilities

Adjustments to Total Liabilities

Adjustments to Stockholders’ Equity

Adjustments to Capitalization Table

Adjustments to Revenues

Adjustments to Reported Income