GENESIS ENERGY LP

For the period ended Dec 31, 2025. Filed Feb 18, 2026.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 18, 2026

GEL$13.00+2.1%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Item 8. Consolidated Statements of Cash Flows

	Year Ended December 31,
	2025	2024	2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$(393,240)	$(33,007)	$146,347
Adjustments to reconcile net income (loss) to net cash provided by operating activities -
Depreciation, depletion and amortization	250,934	313,158	280,189
Impairment expense	—	43,003	—
Loss from disposal of discontinued operations (Note 4)	432,193	—	—
Amortization and write-off of debt issuance costs, premium and discount	12,908	14,639	12,889
Equity in earnings of investments in equity investees	(47,629)	(58,291)	(66,198)
Cash distributions of earnings of equity investees	47,145	58,291	64,972
Non-cash effect of long-term incentive compensation plans	15,251	5,234	25,379
Deferred and other tax liabilities	573	291	(624)
Unrealized losses (gains) on derivative transactions	(117)	(7,837)	36,635
Other, net	23,993	25,389	17,363
Net changes in components of operating assets and liabilities (See Note 16)	(89,185)	31,064	4,174
Net cash provided by operating activities	252,826	391,934	521,126
CASH FLOWS FROM INVESTING ACTIVITIES:
Payments to acquire fixed and intangible assets	(186,888)	(587,145)	(620,019)
Proceeds from disposal of discontinued operations, net of cash divested (Note 4)	996,642	—	—
Cash distributions received from equity investees—return of investment	22,393	23,461	26,050
Investments in equity investees	(892)	(285)	(4,489)
Proceeds from asset sales	1,039	11,805	478
Other, net	—	—	4,332
Net cash provided by (used in) investing activities	832,294	(552,164)	(593,648)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings on senior secured credit facility	866,600	1,407,500	1,183,566
Repayments on senior secured credit facility	(1,151,200)	(1,414,800)	(1,090,666)
Proceeds from issuance of senior unsecured notes (Note 11)	—	1,300,000	1,093,766
Repayment of senior unsecured notes (Note 11)	(414,370)	(926,903)	(875,969)
Repayment of Alkali senior secured notes	—	(11,618)	—
Debt issuance costs	(1,494)	(27,858)	(24,765)
Redemption of Class A Convertible Preferred Units (Note 12)	(262,500)	—	(75,000)
Contributions from noncontrolling interests	68,454	36,045	75,240
Distributions to noncontrolling interests	(58,527)	(36,585)	(44,579)
Distributions to Class A Convertible Preferred unitholders (Note 12)	(71,572)	(87,576)	(93,930)
Distributions to common unitholders (Note 12)	(80,828)	(75,317)	(73,530)
Repurchase of Class A Common Units (Note 12)	—	—	(1,044)
Other, net	(2,798)	(1,144)	904
Net cash provided by (used in) financing activities	(1,108,235)	161,744	73,993
Net increase (decrease) in cash and cash equivalents and restricted cash	(23,115)	1,514	1,471
Cash and cash equivalents and restricted cash at beginning of period	29,552	28,038	26,567
Cash, cash equivalents, and restricted cash at beginning of period: discontinued operations	22,200	21,806	24,429
Cash and cash equivalents at beginning of period: continuing operations	7,352	6,232	2,138
Cash, cash equivalents and restricted cash at end of period	6,437	29,552	28,038
Cash, cash equivalents and restricted cash at end of period: discontinued operations	—	22,200	21,806
Cash and cash equivalents at end of period: continuing operations	$6,437	$7,352	$6,232

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