| Schedule of Computation of Basic and Diluted Earnings Per Share |
The following table sets forth the computation of basic and diluted EPS attributable to our Class A shares for the three and six months ended June 30, 2026 and 2025.
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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(in thousands, except for share and per share amounts) |
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2026 |
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2025 |
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2026 |
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2025 |
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Numerator |
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Net income |
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$ |
31,049 |
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$ |
18,475 |
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$ |
48,917 |
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$ |
33,934 |
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Less: Net income attributable to noncontrolling interest |
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18,762 |
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10,973 |
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27,915 |
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19,968 |
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Net income attributable to LandBridge Company LLC |
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12,287 |
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7,502 |
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21,002 |
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13,966 |
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Less: Earnings allocated to participating securities |
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231 |
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225 |
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396 |
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428 |
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Basic net income attributable to LandBridge Company LLC |
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$ |
12,056 |
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$ |
7,277 |
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$ |
20,606 |
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$ |
13,538 |
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Plus: Net income attributable to noncontrolling interest |
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18,762 |
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10,973 |
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27,915 |
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19,968 |
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Plus: Undistributed earnings reallocation adjustment to participating securities |
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(24 |
) |
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(6 |
) |
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(24 |
) |
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(6 |
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Diluted net income attributable to shareholders |
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$ |
30,794 |
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$ |
18,244 |
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$ |
48,497 |
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$ |
33,500 |
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Denominator |
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Basic weighted average shares outstanding |
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27,960,494 |
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24,069,705 |
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27,899,874 |
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23,664,811 |
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Dilutive Class B shares outstanding |
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49,030,558 |
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52,324,416 |
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49,134,875 |
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52,764,252 |
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Diluted weighted average shares outstanding |
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76,991,052 |
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76,394,121 |
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77,034,749 |
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76,429,063 |
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Basic net income per share of Class A shares |
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$ |
0.43 |
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$ |
0.30 |
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$ |
0.74 |
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$ |
0.57 |
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Diluted net income per share of Class A shares |
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$ |
0.40 |
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$ |
0.24 |
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$ |
0.63 |
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$ |
0.44 |
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