Company: MGY
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001698990-25-000006
Chunk: 99

Company: Magnolia Oil & Gas Corp
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 99
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,027 366,027 31,303 397,330 Balance, December 31, 2024228,164 $23 5,523 $1 $1,880,243 38,808 $(721,279)$754,591 $1,913,579 $53,747 $1,967,326 

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

50

 Magnolia Oil & Gas Corporation

Consolidated Statements of Cash Flows

(In thousands)

Years EndedDecember 31, 2024December 31, 2023December 31, 2022CASH FLOWS FROM OPERATING ACTIVITIESNET INCOME$397,330 $442,604 $1,050,249 Adjustments to reconcile net income to net cash provided by operating activities:Depreciation, depletion and amortization414,487 324,790 243,152 Impairment of oil and natural gas properties— 15,735 — Asset retirement obligations accretion6,729 4,039 3,245 Amortization of deferred financing costs4,459 4,256 5,854 Gain on sale of assets— (3,946)— Deferred income tax expense (benefit)70,272 75,356 (65,720)Gain on revaluation of contingent consideration(4,312)(7,643)— Stock based compensation18,663 16,166 13,314 Loss on extinguishment of debt8,796 — — Other2,922 274 554 Changes in operating assets and liabilities:Accounts receivable36,712 (19,404)(21,001)Accounts payable(18,389)(9,211)74,937 Accrued liabilities(9,624)3,391 8,593 Drilling advances(2,263)3,472 (2,869)Other assets and liabilities, net(4,932)5,910 (13,621)Net cash provided by operating activities920,850 855,789 1,296,687 CASH FLOWS FROM INVESTING ACTIVITIESAcquisitions(165,424)(355,499)(90,126)Additions to oil and natural gas properties(486,729)(424,890)(465,139)Changes in working capital associated with additions to oil