GENESIS ENERGY LP
For the period ended Jun 30, 2025. Filed Jul 31, 2025.
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Jun 30, 2025 · Filed Jul 31, 2025
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4. Discontinued Operations
- Discontinued Operations
On February 28, 2025, we completed the sale of the Alkali Business to an indirect affiliate of WE Soda Ltd for a gross purchase price of $1.425 billion. The sale generated proceeds of approximately $1.0 billion, which reflects the net proceeds after the payment of transaction costs and expenses, the assumption of $413.4 million of our then outstanding 5.875% senior secured notes due 2042 (the “Alkali senior secured notes”) by an indirect affiliate of WE Soda Ltd, and cash divested.
A reconciliation of the line items constituting pretax income from discontinued operations to net income (loss) from discontinued operations, net of tax is as follows:
| Three Months EndedJune 30, | Six Months EndedJune 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Major classes of line items constituting income (loss) from discontinued operations: | ||||
| Revenues | $— | $326,082 | $200,532 | $661,740 |
| Operating costs | — | (290,447) | (168,871) | (587,413) |
| General and administrative | — | (247) | (156) | (556) |
| Depreciation, depletion and amortization | — | (26,446) | (18,862) | (50,826) |
| Interest expense, net | — | (6,331) | (4,179) | (12,731) |
| Pretax income from discontinued operations | — | 2,611 | 8,464 | 10,214 |
| Loss from the sale of the Alkali Business | — | — | (432,193) | — |
| Total pretax income (loss) from discontinued operations | — | 2,611 | (423,729) | 10,214 |
| Income tax expense | — | (33) | (16) | (33) |
| Net income (loss) from discontinued operations, net of tax | $— | $2,578 | $(423,745) | $10,181 |
A summary of our cash flows associated with our discontinued operations is as follows:
| Six Months EndedJune 30, | ||
|---|---|---|
| 2025 | 2024 | |
| Net cash flows provided by operating activities | $31,453 | $136,985 |
| Net cash flows used in investing activities | (11,666) | (124,911) |
| Net cash flows used in financing activities | — | (5,815) |
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