GENESIS ENERGY LP
For the period ended Dec 31, 2025. Filed Feb 18, 2026.
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FY2025 · Filed Feb 18, 2026
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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 pre-tax income from discontinued operations to net income (loss) from discontinued operations, net of tax is as follows:
| For the Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Major classes of line items constituting income (loss) from discontinued operations: | |||
| Revenues | $200,532 | $1,305,382 | $1,455,673 |
| Operating costs | (168,871) | (1,154,667) | (1,249,080) |
| General and administrative | (156) | (1,103) | (1,227) |
| Depreciation, depletion and amortization | (18,862) | (106,472) | (81,073) |
| Interest expense, net | (4,179) | (25,360) | (25,598) |
| Pretax income from discontinued operations | 8,464 | 17,780 | 98,695 |
| Loss from the sale of the Alkali Business | (432,193) | — | — |
| Total pretax income (loss) from discontinued operations | (423,729) | 17,780 | 98,695 |
| Income tax benefit (expense) | (16) | (22) | 475 |
| Net income (loss) from discontinued operations, net of tax | $(423,745) | $17,758 | $99,170 |
A summary of our cash flows associated with our discontinued operations is as follows:
| For the Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Net cash flows provided by operating activities | $31,453 | $186,823 | $149,414 |
| Net cash flows used in investing activities | (11,666) | (174,811) | (152,036) |
| Net cash flows used in financing activities | — | (11,618) | — |
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