Company: MGY
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001698990-25-000013
Chunk: 23

Company: Magnolia Oil & Gas Corp
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 8
Chunk 23
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 basic188,653 182,368 Add: Dilutive effect of stock based compensation and other11 56 Weighted average number of common shares outstanding during the period - diluted188,664 182,424 Net income per share of Class A Common Stock - diluted$0.54 $0.46 For the three months ended March 31, 2025 and 2024, the Company excluded 5.5 million and 21.8 million, respectively, of weighted average shares of Class A Common Stock issuable upon the exchange of Class B Common Stock (and corresponding Magnolia LLC Units) as the effect was anti-dilutive.

13. Related Party Transactions

For the three months ended March 31, 2025 and 2024, there were no material related party transactions with an entity that held more than 10% of the Company’s common stock or qualified as a principal owner of the Company, as defined in ASC 850, “Related Party Disclosures.”

14. Supplemental Cash Flow

Supplemental cash flow disclosures are presented below:Three Months Ended(In thousands)March 31, 2025March 31, 2024Supplemental cash items:Cash paid for income taxes$— $— Cash paid for interest441 12,588 Supplemental non-cash investing and financing activity:Accrued capital expenditures40,955 54,375 Net liabilities assumed in connection with acquisitions— 6,968 Supplemental non-cash lease operating activity:Right-of-use assets obtained in exchange for operating lease obligations16,877 2,440 

15. Subsequent Events

On April 29, 2025, the Company’s board of directors declared a quarterly cash dividend of $0.15 per share of Class A Common Stock, and Magnolia LLC declared a cash distribution of $0.15 per Magnolia LLC Unit to each holder of Magnolia LLC Units, each payable on June 2, 2025 to shareholders or members of record, as applicable, as of May 12, 2025.

15

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

FORWARD-LOOKING STATEMENTS

This report includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”).