Kosmos Energy Ltd
For the period ended Dec 31, 2023. Filed Feb 26, 2024.
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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.
FY2023 · Filed Feb 26, 2024
KOS$2.11+1.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
| Years Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Operating activities | |||
| Net income (loss) | $213,520 | $226,551 | $(77,836) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
| Depletion, depreciation and amortization (including deferred financing costs) | 454,848 | 508,657 | 477,801 |
| Deferred income taxes | (107,560) | (197,487) | (69,174) |
| Unsuccessful well costs and leasehold impairments | 2,208 | 86,941 | 18,819 |
| Impairment of long-lived assets | 222,278 | 449,969 | — |
| Change in fair value of derivatives | 28,349 | 275,465 | 277,705 |
| Cash settlements on derivatives, net (including $(16.4) million and $(327.9) million and $(224.4) million on commodity hedges during 2023, 2022, and 2021) | (32,426) | (344,468) | (231,767) |
| Equity-based compensation | 42,693 | 34,546 | 31,651 |
| Gain on sale of assets | — | (50,471) | (1,564) |
| Loss on extinguishment of debt | 1,503 | 192 | 19,625 |
| Other | 5,709 | (10,099) | (3,538) |
| Changes in assets and liabilities: | |||
| (Increase) decrease in receivables | (16,223) | 68,829 | (34,246) |
| (Increase) decrease in inventories and prepaid expenses | (45,667) | (704) | 637 |
| Increase (decrease) in accounts payable and accrued liabilities | (4,062) | 82,555 | (33,769) |
| Net cash provided by operating activities | 765,170 | 1,130,476 | 374,344 |
| Investing activities | |||
| Oil and gas assets | (932,603) | (787,297) | (472,631) |
| Acquisition of oil and gas properties | — | (22,078) | (465,367) |
| Proceeds on sale of assets | — | 168,703 | 6,354 |
| Notes receivable from partners | (62,247) | (63,183) | (41,733) |
| Net cash used in investing activities | (994,850) | (703,855) | (973,377) |
| Financing activities | |||
| Borrowings under long-term debt | 300,000 | — | 725,000 |
| Payments on long-term debt | (145,000) | (405,000) | (1,050,000) |
| Net proceeds from issuance of senior notes | — | — | 839,375 |
| Net proceeds from issuance of common stock | — | — | 136,006 |
| Dividends | (166) | (655) | (512) |
| Other financing costs | (13,214) | (9,041) | (25,704) |
| Net cash provided by (used in) financing activities | 141,620 | (414,696) | 624,165 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | (88,060) | 11,925 | 25,132 |
| Cash, cash equivalents and restricted cash at beginning of period | 186,821 | 174,896 | 149,764 |
| Cash, cash equivalents and restricted cash at end of period | $98,761 | $186,821 | $174,896 |
| Supplemental cash flow information | |||
| Cash paid for: | |||
| Interest, net of capitalized interest | $74,642 | $85,791 | $91,032 |
| Income taxes, net of refund received | $281,872 | $247,889 | $137,421 |
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