Kimbell Royalty Partners LP

About this filing

Consolidated Statements of Cash Flows

For the period ended Mar 31, 2024. Filed May 2, 2024.

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2024 · Filed May 2, 2024

KRP$15.15+0.7%Stored close · as of Nov 10, 2026

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

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Contents

· · Three Months Ended March 31,

Reconciliation of Cash and Cash Equivalents and Cash Held at Consolidated Variable Interest Entities to the Consolidated Statements of Cash Flows

Cash and cash equivalents

$39,679,620

$19,077,381

Cash held at consolidated variable interest entities

$39,679,620

$19,178,311


· · Three Months Ended March 31,
	2024	2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$9,336,939		$28,899,538
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and depletion expense	38,166,806		17,563,648
Impairment of oil and natural gas properties	5,963,575		—
Amortization of right-of-use assets	86,324		83,157
Amortization of loan origination costs	530,130		516,098
Unit-based compensation	3,684,080		3,170,000
Loss (gain) on derivative instruments, net of settlements	8,737,714		(12,499,601)
Changes in operating assets and liabilities:
Oil, natural gas and NGL receivables	4,316,194		11,058,014
Accounts receivable and other current assets	(1,149,530)		513,812
Accounts payable	312,764		(290,521)
Other current liabilities	(847,611)		255,526
Operating lease liabilities	(91,769)		(85,018)
Consolidated variable interest entities related:
Interest earned on marketable securities in trust account	—		(2,438,837)
Other assets and liabilities	—		307,790
Net cash provided by operating activities	69,045,616		47,053,606
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of property and equipment	(69,763)		(39,798)
Purchase of oil and natural gas properties	(21,605)		(281,844)
Net cash used in investing activities	(91,368)		(321,642)
CASH FLOWS FROM FINANCING ACTIVITIES
Distribution to common unitholders	(32,097,985)		(31,176,160)
Distribution to OpCo unitholders	(9,462,525)		(7,436,615)
Distribution on Series A preferred units	(4,915,069)		—
Distribution on Class B units	(20,847)		(15,484)
Borrowings on long-term debt	4,959,776		4,000,000
Repayments on long-term debt	(13,800,000)		(13,100,000)
Payment of loan origination costs	(16,499)		—
Restricted units repurchased for tax withholding	(4,914,149)		(4,851,962)
Net cash used in financing activities	(60,267,298)		(52,580,221)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	8,686,950		(5,848,257)
CASH AND CASH EQUIVALENTS, beginning of period	30,992,670		25,026,568
CASH AND CASH EQUIVALENTS, end of period	$39,679,620		$19,178,311
Supplemental cash flow information:
Cash paid for interest	$6,696,655		$5,106,816
Non-cash investing and financing activities:
Noncash deemed distribution to Series A preferred units	$394,643		$—
Distribution on Series A preferred units in accounts payable	$4,861,644		$—
Recognition of tenant improvement asset	$31,250		$31,250

CONSOLIDATED STATEMENTS OF CASH FLOWS — (Continued)

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.