XML 27 R6.htm IDEA: XBRL DOCUMENT v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities    
Net (loss) income $ (41,479) $ 63,172
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation, depletion, amortization and accretion 8,875 8,762
Share-based compensation 95,335 (17,230)
Gain on disposal of assets   (239)
Deferred income tax benefit (411)  
Bad debt expense 5 (7)
Changes in operating assets and liabilities:    
Accounts receivable 2,113 (1,474)
Related party receivable (1,074) (613)
Prepaid expenses and other assets (328) 43
Accounts payable 272 362
Related party payable 233 (109)
Unearned revenue 940 (989)
Accrued liabilities and other liabilities (434) 803
Income taxes payable 1,901 173
Net cash provided by operating activities 67,636 53,042
Cash flows from investing activities    
Acquisitions (723,367)  
Capital expenditures (985) (2,783)
Proceeds from disposal of assets   11
Net cash used in investing activities (724,352) (2,772)
Cash flows from financing activities    
Proceeds from issuance of Class A shares, net of underwriting discounts and fees 278,263  
Proceeds from issuance of Private Placement, net of placement agent fees 339,291  
Purchase of OpCo Units from LandBridge Holdings, net of placement agent fees (145,411)  
Contributions from member 120,000  
Dividends, dividend equivalents, and distributions paid (178,244) (105,165)
Proceeds from term loan 362,500 100,000
Repayments on term loan (102,500) (62,417)
Proceeds from revolver 55,000 50,000
Repayments of revolver (60,000) (15,000)
Other financing activities (462) (404)
Debt issuance costs (4,326) (3,106)
Offering costs (8,186) (1,706)
Net cash provided by (used in) financing activities 655,925 (37,798)
Net (decrease) increase in cash and cash equivalents (791) 12,472
Cash and cash equivalents - beginning of period 37,823 25,351
Cash and cash equivalents - end of period 37,032 37,823
Revolving Credit Facility    
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Amortization of deferred financing fees / debt issuance costs 411 129
Term Loan    
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Amortization of deferred financing fees / debt issuance costs $ 1,277 $ 259