Company: EXEEZ
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0000895126-25-000084
Chunk: 39

Company: EXPAND ENERGY Corp
Filing Date: 2025-07-29
Form: 10-Q
Item: Part I, Item 1
Chunk 39
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 potential in-service date in the fourth quarter of 2025. We have a 35% interest in the joint venture entity. We have accounted for this investment as an equity method investment, and its carrying value, which is reflected within other long-term assets on the condensed consolidated balance sheets, was $314 million and $307 million as of June 30, 2025 and December 31, 2024, respectively. As of June 30, 2025, the carrying value of our investment included approximately $25 million of capitalized interest related to the project.

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Table of ContentsEXPAND ENERGY CORPORATION AND SUBSIDIARIESNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)(Unaudited)

13.Supplemental Cash Flow InformationSupplemental disclosures to the condensed consolidated statements of cash flows are presented below.Six Months Ended June 30,20252024Changes in assets and liabilitiesAccounts receivable$165 $239 Accounts payable(87)(129)Other current assets(30)6 Other current liabilities22 (171)Total$70 $(55)Supplemental cash flow information:Interest paid, net of capitalized interest$110 $45 Income taxes paid (refunds received), net$82 $(2)Supplemental disclosure of significant   non-cash investing and financing activities:Change in accrued drilling and completion costs$160 $(62)Operating lease obligations recognized$26 $— 

14.Segment InformationOperating segments are defined as components of an enterprise that engage in activities from which it may earn revenues and incur expenses for which separate operational financial information is available and is regularly evaluated by the CODM, who is our Chief Executive Officer (“CEO”), for the purpose of allocating an enterprise’s resources and assessing its operating performance. Our revenues are derived from the production, marketing and sale of natural gas, oil and NGL. Additional information on our revenues, including the disaggregation of our revenues, is found in Note 7. As of June 30, 2025, we considered each of our operating areas as operating segments, however, we have aggregated those operating segments into one reportable segment due to the similar nature of the exploration and production business across Expand Energy and its consolidated subsidiaries and the fact that our marketing activities are ancillary to our operations.Our CEO uses consolidated net income (loss), for purposes of allocating resources and in assessing Expand Energy’s operating performance. Additionally, our CEO is regularly provided information