Kosmos Energy Ltd.
For the period ended Dec 31, 2025. Filed Mar 2, 2026.
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FY2025 · Filed Mar 2, 2026
KOS$2.11+1.9%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Years Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Operating activities | |||
| Net income (loss) | $(699,786) | $189,851 | $213,520 |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
| Depletion, depreciation and amortization (including deferred financing costs) | 564,660 | 465,483 | 454,848 |
| Deferred income taxes | (6,738) | (52,174) | (107,560) |
| Unsuccessful well costs and leasehold impairments | 202,492 | 74,489 | 2,208 |
| Impairment of long-lived assets | 177,563 | — | 222,278 |
| Change in fair value of derivatives | (45,008) | 14,747 | 28,349 |
| Cash settlements on derivatives, net (including $10.4 million and $(12.5) million and $(16.4) million on commodity hedges during 2025, 2024, and 2023) | 6,181 | (19,652) | (32,426) |
| Equity-based compensation | 27,953 | 37,951 | 42,693 |
| Gain on sale of assets | (2,200) | — | — |
| Debt modifications and extinguishments | 195 | 25,173 | 1,503 |
| Other | (21,881) | (13,735) | 5,709 |
| Changes in assets and liabilities: | |||
| (Increase) decrease in receivables | 92,173 | (63,331) | (16,223) |
| (Increase) decrease in inventories and prepaid expenses | (6,590) | 4,988 | (45,667) |
| Increase (decrease) in accounts payable and accrued liabilities | (155,002) | 14,459 | (4,062) |
| Net cash provided by operating activities | 134,012 | 678,249 | 765,170 |
| Investing activities | |||
| Oil and gas assets | (314,408) | (933,659) | (932,603) |
| Notes receivable and other investing activities | (86,791) | (32,397) | (62,247) |
| Net cash used in investing activities | (401,199) | (966,056) | (994,850) |
| Financing activities | |||
| Borrowings under long-term debt | 675,000 | 325,000 | 300,000 |
| Payments on long-term debt | (225,000) | (350,000) | (145,000) |
| Net proceeds from issuance of senior notes | — | 885,285 | — |
| Repurchase and redemption of senior notes | (150,000) | (499,515) | — |
| Purchase of capped call transactions | — | (49,800) | — |
| Dividends | — | — | (166) |
| Other financing costs | (346) | (36,647) | (13,214) |
| Net cash provided by financing activities | 299,654 | 274,323 | 141,620 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 32,467 | (13,484) | (88,060) |
| Cash, cash equivalents and restricted cash at beginning of period | 85,277 | 98,761 | 186,821 |
| Cash, cash equivalents and restricted cash at end of period | $117,744 | $85,277 | $98,761 |
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