Excelerate Energy Inc
For the period ended Sep 30, 2024. Filed Nov 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 7, 2024
EE$37.54+0.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows (Unaudited)
For the Nine Months Ended September 30, 2024 and 2023
| Nine months ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities · (In thousands) | ||
| Net income | $106,963 | $106,800 |
| Adjustments to reconcile net income to net cash from operating activities | ||
| Depreciation and amortization | 76,341 | 89,126 |
| Amortization of operating lease right-of-use assets | 1,300 | 12,006 |
| ARO accretion expense | 1,384 | 1,323 |
| Amortization of debt issuance costs | 2,258 | 4,875 |
| Deferred income taxes | 5,190 | (5,102) |
| Share of net earnings in equity method investee | (1,685) | (258) |
| Distributions from equity method investee | 1,800 | 4,725 |
| Long-term incentive compensation expense | 5,263 | 2,560 |
| (Gain) loss on non-cash items | (44) | 1,370 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 15,779 | 31,531 |
| Other current assets and other assets | (15,837) | 143,003 |
| Accounts payable and accrued liabilities | (29,789) | (86,847) |
| Current portion of deferred revenue | 2,253 | (120,374) |
| Net investments in sales-type leases | 15,263 | 10,681 |
| Other long-term liabilities | 8,379 | (145) |
| Net cash provided by operating activities | $194,818 | $195,274 |
| Cash flows from investing activities | ||
| Purchases of property and equipment | (49,706) | (304,426) |
| Sales of property and equipment | — | 4,101 |
| Net cash used in investing activities | $(49,706) | $(300,325) |
| Cash flows from financing activities | ||
| Repurchase of Class A Common Stock | (27,214) | — |
| Proceeds from Term Loan Facility | — | 250,000 |
| Repayments of long-term debt | (31,893) | (20,492) |
| Repayments of long-term debt – related party | (6,773) | (6,221) |
| Payment of debt issuance costs | — | (7,307) |
| Principal payments under finance lease liabilities | (15,252) | (15,661) |
| Taxes withheld for long-term incentive compensation | (253) | — |
| Dividends paid | (2,067) | (1,969) |
| Distributions | (8,591) | (8,153) |
| Minority owner contribution – Albania Power Project | 1,012 | 3,108 |
| Net cash provided by (used in) financing activities | $(91,031) | $193,305 |
| Effect of exchange rate on cash, cash equivalents, and restricted cash | (54) | (43) |
| Net increase in cash, cash equivalents and restricted cash | 54,027 | 88,211 |
| Cash, cash equivalents and restricted cash | ||
| Beginning of period | $572,458 | $537,971 |
| End of period | $626,485 | $626,182 |
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