Texas Pacific Land Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Note 4 - Real Estate Acquired

Note 4 - Real Estate Acquired

12 Months Ended

Dec. 31, 2012

Property, Plant and Equipment Disclosure [Text Block]

(4) Real Estate Acquired

Real estate acquired included the following activity for the years ended December 31, 2012 and 2011:

	2012				2011
	Acres		Book Value		Acres			Book Value
Balance at January 1:		10,124.78	$	1,125,059		10,793.23		$	1,161,504

Additions		—		—		—			—
Sales		—		—		(668.45	)		(36,445	)
Balance at December 31:		10,124.78	$	1,125,059		10,124.78		$	1,125,059

No valuation allowance was necessary at December 31, 2012 and 2011.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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