Balance Sheet: Assets

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.

Texas Pacific Land Corp., consolidated balance sheet: assets

US$ in thousands

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cash and cash equivalents	725,169)	510,834)	428,242)	281,046)	303,645)
Accounts receivable and accrued receivables, net	128,971)	103,983)	95,217)	48,216)	62,995)
Prepaid expenses and other current assets	2,944)	7,427)	3,054)	1,290)	—)
Tax like-kind exchange escrow	5,380)	6,348)	—)	1,978)	—)
Prepaid income taxes	—)	4,809)	—)	—)	—)
Current assets	862,464)	633,401)	526,513)	332,530)	366,640)
Real estate acquired	130,024)	109,704)	109,071)	108,536)	107,075)
Property, plant and equipment, net	89,587)	85,478)	79,722)	79,267)	88,323)
Royalty interests acquired, net	46,609)	45,025)	44,390)	45,646)	29,060)
Intangible assets, net	21,025)	—)	—)	—)	—)
Land (surface rights)	—)	—)	—)	—)	—)
1/16th nonparticipating perpetual royalty interest	—)	—)	—)	—)	—)
1/128th nonparticipating perpetual royalty interest	—)	—)	—)	—)	—)
Real estate and royalty interests assigned through the Declaration of Trust, no value assigned	—)	—)	—)	—)	—)
Operating lease right-of-use assets	1,861)	2,525)	1,826)	2,473)	3,098)
Other assets	4,828)	1,294)	2,542)	3,183)	3,980)
Noncurrent assets	293,934)	244,026)	237,551)	239,105)	231,536)
Total assets	1,156,398)	877,427)	764,064)	571,635)	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).

Assets: Selected Items

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Balance sheet item	Description	The company
Current assets	Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.	Texas Pacific Land Corp. current assets increased from 2021 to 2022 and from 2022 to 2023.
Property, plant and equipment, net	Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	Texas Pacific Land Corp. property, plant and equipment, net increased from 2021 to 2022 and from 2022 to 2023.
Noncurrent assets	Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer.	Texas Pacific Land Corp. noncurrent assets increased from 2021 to 2022 and from 2022 to 2023.
Total assets	Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.	Texas Pacific Land Corp. total assets increased from 2021 to 2022 and from 2022 to 2023.

Current Assets: Selected Items

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Balance sheet item	Description	The company
Cash and cash equivalents	Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.	Texas Pacific Land Corp. cash and cash equivalents increased from 2021 to 2022 and from 2022 to 2023.
Accounts receivable and accrued receivables, net	Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.	Texas Pacific Land Corp. accounts receivable and accrued receivables, net increased from 2021 to 2022 and from 2022 to 2023.

Texas Pacific Land Corp. (NYSE:TPL)

Balance Sheet: Assets

Assets: Selected Items

Current Assets: Selected Items