Balance Sheet: Liabilities and Stockholders’ Equity

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.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Texas Pacific Land Corp., consolidated balance sheet: liabilities and stockholders’ equity

US$ in thousands

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Accounts payable and accrued expenses	22,501)	23,897)	17,907)	13,325)	19,193)
Ad valorem and other taxes payable	10,761)	8,043)	101)	—)	—)
Income taxes payable	4,795)	3,167)	29,083)	4,054)	5,271)
Unearned revenue	6,330)	4,488)	3,809)	3,997)	—)
Current liabilities	44,387)	39,595)	50,900)	21,376)	24,464)
Deferred taxes payable	42,365)	41,151)	38,948)	38,728)	40,827)
Unearned revenue, noncurrent	25,006)	21,708)	20,449)	22,171)	17,381)
Operating lease liabilities, noncurrent	1,170)	1,955)	1,445)	2,026)	3,367)
Accrued liabilities, noncurrent	274)	131)	611)	2,150)	—)
Noncurrent liabilities	68,815)	64,945)	61,453)	65,075)	61,575)
Total liabilities	113,202)	104,540)	112,353)	86,451)	86,039)
Preferred stock, $0.01 par value; none outstanding	—)	—)	—)	—)	—)
Common stock, $0.01 par value	78)	78)	78)	—)	—)
Treasury stock, at cost	(144,998)	(104,139)	(15,417)	—)	—)
Additional paid-in capital	14,613)	8,293)	28)	—)	—)
Accumulated other comprehensive income (loss)	1,831)	2,516)	(1,007)	(2,693)	(1,461)
Retained earnings	1,171,672)	866,139)	668,029)	—)	—)
Net proceeds from all sources	—)	—)	—)	487,877)	513,598)
Total equity	1,043,196)	772,887)	651,711)	485,184)	512,137)
Total liabilities and equity	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).

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Balance sheet item	Description	The company
Current liabilities	Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.	Texas Pacific Land Corp. current liabilities decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.
Noncurrent liabilities	Amount of obligation due after one year or beyond the normal operating cycle, if longer.	Texas Pacific Land Corp. noncurrent liabilities increased from 2021 to 2022 and from 2022 to 2023.
Total liabilities	Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.	Texas Pacific Land Corp. total liabilities decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.
Total equity	Total of all stockholders’ equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity stockholders’ equity attributable to the parent excludes the amount of stockholders’ equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.	Texas Pacific Land Corp. total equity increased from 2021 to 2022 and from 2022 to 2023.

Texas Pacific Land Corp. (NYSE:TPL)

Balance Sheet: Liabilities and Stockholders’ Equity