Company: EXEEZ
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000895126-25-000021
Chunk: 131

Company: EXPAND ENERGY Corp
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 131
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 asset and lease liability balances.On October 1, 2024, we completed the Southwestern Merger. As part of the purchase price allocation, we recognized additional operating lease liabilities of $134 million and a related ROU asset of $134 million related to drilling rigs, pressure pumping equipment, vehicles, office space, compressors, certain water transportation lines and other equipment. Regarding our drilling rigs and pressure pumping equipment, our policy is to treat both lease and non-lease components as a single lease component. See Note 2 for additional information about the Southwestern Merger.Our operating ROU assets are included in other long-term assets while operating lease liabilities are included in other current and other long-term liabilities on the consolidated balance sheet.The following table presents our ROU assets and lease liabilities as of December 31, 2024 and 2023. As of December 31, 2024 and 2023, we did not have any finance leases.Operating Leases December 31, 2024December 31, 2023ROU assets$145 $99 Lease liabilities:Current lease liabilities$71 $84 Long-term lease liabilities74 15 Total lease liabilities, net$145 $99 

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TABLE OF CONTENTSEXPAND ENERGY CORPORATION AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)

Additional information for the Company’s operating leases is presented below:Years Ended December 31, 202420232022Lease cost:Operating lease cost$88 $107 $51 Short-term lease cost62 40 74 Total lease cost$150 $147 $125 Other information:Operating cash outflows from operating leases$13 $10 $15 Investing cash outflows from operating leases$137 $137 $110 December 31, 2024December 31, 2023Weighted average remaining lease term - operating leases3.03 years1.24 yearsWeighted average discount rate - operating leases5.99 %7.02 %Maturity analysis of operating lease liabilities is presented below: December 31, 20242025$71 202637 202730 202814 20296 Thereafter1 Total lease payments159 Less imputed interest(14)Present value of lease liabilities145 Less current maturities(71)Present value of lease liabilities, less current maturities$74