Company: WBI
Filing Date: 2025-09-08
Form Type: S-1/A
Source: 0000950170-25-113383
Chunk: 375

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-09-08
Form: S-1/A
Chunk 375
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 represents a separate performance obligation; therefore, future volumes are wholly unsatisfied and disclosure of the transaction price allocated to remaining performance obligations is not required.

<div align='center'>F-30

WaterBridge NDB Operating LLC and Subsidiaries

Notes to the Consolidated Financial Statements</div>

Contract Liabilities Contract liabilities primarily relate to revenue agreements where the Company receives a reimbursement for infrastructure constructed on behalf of the customer, but owned by the Company, in advance of the related performance obligation being satisfied. Contract liabilities are recognized as earned over time or at a point in time based on the provisions set forth in the agreement. Customer Relationships Customer relationships represent our right to future consideration related to up-front payments made associated with customer contract dedications where we typically do not receive a distinct good or service in exchange for these payments. Contract relationships are amortized as a reduction to produced water handling revenues within our consolidated statements of operations on a straight-line basis over the primary term of the underlying agreement. As of December 31, 2024 and 2023, the Company recorded $19.9 million and $18.6 million, respectively, in other assets on the consolidated balance sheets related to customer relationships. We recognized amortization of $1.7 million and $1.3 million for the years ended December 31, 2024 and 2023, respectively. The remaining weighted average amortization period for customer relationships was 10.8 years and 11.9 years as of December 31, 2024 and 2023, respectively. Income Taxes The Company is a limited liability company classified as a pass-through entity for federal income tax purposes. As a result, the net taxable income of the Company and any related tax credits, for federal income tax purposes, are deemed to pass to the members and are included in their tax returns even though such net taxable income or tax credits may not have actually been distributed. The Company is subject to Texas margin taxes. We estimate our state tax liability utilizing management estimates related to the deductibility of certain expenses and other factors. We recorded $0.3 million and $0.1 million in Texas margin tax liability as of December 31, 2024 and 2023, respectively. Concentrations of Risk The Company provides services to customers involved in the E&P industry in the Northern Delaware Basin in west Texas and southern New Mexico and the Eagle Ford Basin in south Texas and is almost entirely dependent upon the continued activity of such customers. In the normal course of business, we maintain cash balances