Company: BSM
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001628280-25-007730
Chunk: 125

Company: Black Stone Minerals, L.P.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 8
Chunk 125
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 Distributions— (398,824)Charges to partners' equity for accrued distribution equivalent rights— (2,221)Distributions on Series B cumulative convertible preferred units— (21,776)Net income (loss)— 422,549 BALANCE AT DECEMBER 31, 2023209,991 918,208 Repurchases of common units(291)(4,449)Issuance of common units for acquisition of oil and natural gas properties64 1,039 Restricted units granted, net of forfeitures931 — Equity-based compensation— 10,441 Distributions— (336,931)Charges to partners' equity for accrued distribution equivalent rights— (1,207)Distributions on Series B cumulative convertible preferred units— (29,466)Net income (loss)— 271,326 BALANCE AT DECEMBER 31, 2024210,695 $828,961 

The accompanying notes to consolidated financial statements are an integral part of these financial statements.

F-7

BLACK STONE MINERALS, L.P. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOWS(in thousands)

 Year Ended December 31, 202420232022CASH FLOWS FROM OPERATING ACTIVITIES   Net income (loss)$271,326 $422,549 $476,480 Adjustments to reconcile net income (loss) to net cash provided by operating activities:   Depreciation, depletion, and amortization45,196 45,683 47,804 Accretion of asset retirement obligations1,298 1,042 861 Amortization of deferred charges1,079 1,039 1,954 (Gain) loss on commodity derivative instruments5,730 (91,117)120,680 Net cash (paid) received on settlement of commodity derivative instruments45,214 82,723 (203,166)Equity-based compensation8,564 10,829 17,388 (Gain) loss on sale of assets, net— (73)(17)Changes in operating assets and liabilities: Accounts receivable11,244 53,053 (39,513)Prepaid expenses and other current assets(789)(414)51 Accounts payable, accrued liabilities, and other1,042 (3,827)3,012 Settlement