INFINITY NATURAL RESOURCES, INC.INR

INFINITY NATURAL RESOURCES, INC. Segments Disclosure

10-KFiled Mar 10, 20262 min read
Segment Information
The Company has one reportable segment, which is engaged in the acquisition, exploration, development and production of crude oil and natural gas in the United States. All of the Company’s oil and natural gas sales come from customers in the United States. The segment’s revenues are primarily derived from our interests in the sales of crude oil and natural gas production. The Company’s chief operating decision maker (“CODM”) is our chief executive officer, who manages the Company’s business activities as a single operating and reporting segment.
The accounting policies of the one reportable segment are the same as those described in the summary of significant accounting policies. The CODM uses net income, as reported in our statement of operations, to measure segment profit or loss, assess performance, and make strategic capital resources allocations. The measure of segment assets is reported on our balance sheet as total assets. The significant expense categories regularly provided to the CODM are the expenses as noted on the face of the statements of operations.
The following table provides information about the Company’s one reportable segment and includes the reconciliation to consolidated net income:
 For the Year Ended December 31,
 202520242023
Total revenues356,431 259,022 161,730 
Less:
Gathering, processing, and transportation54,779 49,290 31,097 
Lease operating26,675 28,154 18,371 
Production and ad valorem taxes5,918 1,071 886 
Depreciation, depletion, and amortization103,751 73,726 53,796 
General and administrative153,413 13,045 4,885 
Other segment (income)/expenses(1)
(52,064)44,450 (33,977)
Segment income$63,959 $49,286 $86,672 
Other segment (income) / expenses are comprised of net interest expense of $9,666, 21,529 and 11,910 for December 31, 2025, 2024 and 2023, respectively, gain/(loss) on derivative instruments of $58,407, (22,047) and 45,322 for December 31, 2025, 2024 and 2023, respectively, other income/(loss) of $(1,535), (874) and 565 for December 31, 2025, 2024 and 2023, respectively, and Income tax expense / (benefit) of $(4,858) and $0 for December 31, 2025, 2024 and 2023.

About Segments Disclosures

Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.

Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.

Other Available Disclosures

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