Company: WBI
Filing Date: 2025-09-18
Form Type: 424B4
Source: 0001193125-25-206805
Chunk: 366

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-09-18
Form: 424B4
Chunk 366
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 estimated amount the Company would have to pay to transfer its debt, including any premium or discount attributable to the difference between the stated interest rate and market rate of interest at the balance sheet date. The estimated fair value of our debt approximates the principal amount outstanding because the interest rates applicable to such amounts are variable and reflective of market rates and the debt may be repaid, in full or in part, at any time without penalty. Refer to Note 7 – Debt . Recurring fair value measurements were performed for management incentive units prior to the Division and award modification (when the incentive units were accounted for as liability awards), as disclosed in Note 10 – Share-Based Compensation . Cash and Cash Equivalents The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. The Company maintains cash balances that may at times exceed federally insured limits. Accounts Receivable The Company extends credit to customers and other parties in the normal course of business. Accounts receivable consists of trade receivables recorded at the invoiced amount, plus accrued revenue that is earned but not yet billed, less an estimated allowance for doubtful accounts. Account receivables are generally due within 45 days or less. An allowance for expected credit losses is determined based upon historical write-off experience, aging of accounts receivables, current macroeconomic industry conditions and customer collectability patterns. Accounts receivable are charged against the allowance when determined to be uncollectible. When the Company recovers amounts that were previously written off, those amounts are offset against the allowance and reduce expense in the year of recovery. As of December 31, 2024 and 2023, the Company had $2.4 million and an immaterial amount, respectively, in allowance for doubtful accounts. The Company wrote off an immaterial amount and approximately $0.1 million during the years ended December 31, 2024 and 2023, respectively. As of December 31, 2024, the Company had two customers that accounted for approximately 34% and 10% of outstanding receivables, respectively. As of December 31, 2023, the Company had two customers that accounted for approximately 24% and 10% of outstanding receivables, respectively. Property, Plant and Equipment Property, plant, and equipment is stated at cost or, upon acquisition, at its fair value. Expenditures for construction activities, major improvements and betterments that extend the useful life of an asset are capitalized, while expenditures for maintenance and