Company: WBI
Filing Date: 2025-09-18
Form Type: 424B4
Source: 0001193125-25-206805
Chunk: 423

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-09-18
Form: 424B4
Chunk 423
---
 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. The following table reflects the changes in our contract liabilities, which are included in other current liabilities and other long-term liabilities on our consolidated balance sheets:

|                                                 |     | Contract Liabilities |       |   |
|:------------------------------------------------|:----|:---------------------|------:|:--|
| Balance, December 31, 2023                      |     | $                    | 1,274 |   |
| Cash received but not yet recognized in revenue |     |                      | 1,513 |   |
| Revenue recognized from prior period deferral   |     |                      |  (133 | ) |
| Balance, December 31, 2024                      |     | $                    | 2,654 |   |

<div align='center'>F-71</div>

### Notes to the Consolidated Financial Statements
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 $15.7 million and $17.1 million, respectively, in other assets on the consolidated balance sheets related to customer relationships. We recognized amortization of $1.5 million for both the years ended December 31, 2024 and 2023. The remaining weighted average amortization period for customer relationships was 11.8 years and 12.8 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 $0.1 million and $0.6 million