| Reconciliation of Adjusted EBITDAX to Income from operations before income taxes |
The following table presents a reconciliation of reportable segment Adjusted EBITDAX to income from operations before income taxes (in thousands): | | | | | | | | | | | | | | | | | | | Year Ended December 31, | | 2024 | | 2023 | | 2022 | | Adjusted EBITDAX | $ | 3,651,621 | | | $ | 2,369,190 | | | $ | 2,347,585 | | | Exploration | (14,322) | | | (2,178) | | | (6,981) | | | Depreciation, depletion, and amortization | (2,056,427) | | | (1,171,192) | | | (816,446) | | | Abandonment and impairment of unproved properties | — | | | — | | | (17,975) | | Unused commitments(1) | (1,730) | | | (5,013) | | | (3,641) | | | Transaction costs | (31,419) | | | (84,328) | | | (24,683) | | Stock-based compensation(2) | (48,272) | | | (34,931) | | | (31,367) | | | Non-recurring general and administrative expense | — | | | — | | | (18,037) | | | Derivative gain (loss), net | 37,490 | | | 9,307 | | | (335,160) | | | Derivative cash settlement (gain) loss, net | (6,435) | | | 68,246 | | | 576,802 | | | Interest expense | (456,303) | | | (182,740) | | | (32,199) | | Interest income(3) | 11,058 | | | 33,347 | | | — | | Gain (loss) on property transactions, net | (2,566) | | | (254) | | | 15,880 | | | Income from operations before income taxes | $ | 1,082,695 | | | $ | 999,454 | | | $ | 1,653,778 | |
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