ProFrac Holding Corp. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Fair Value of Financial Instruments (Tables)

Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2024

Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis

Our assets and liabilities measured at fair value on a recurring basis consist of the following:


	Fair Value Measurements Using
	Level 1		Level 2		Level 3
September 30, 2024:
Liabilities — Munger make-whole provision	$	—	$	—	$	9.9

December 31, 2023:
Assets — Investment in BPC	$	—	$	—	$	23.4

Liabilities — Munger make-whole provision	$	—	$	—	$	7.5

Reconciliation of Recurring Level 3 Fair Value Measurements

The following is a reconciliation of our recurring Level 3 fair value measurements:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2024			2023			2024			2023
Net asset (liability) balance at beginning of period	$	(8.8	)	$	34.5		$	15.9		$	46.6
Change in fair value of Level 3 fair value measurements		(1.1	)		(5.5	)		(0.9	)		(17.6	)
Transfer of investment in BPC to acquisition purchase consideration		—			—			(24.9	)		—
Net asset (liability) balance at end of period	$	(9.9	)	$	29.0		$	(9.9	)	$	29.0

Summary of Carrying Amounts and Fair Value of Financial Instruments

The carrying amounts of our term loan facility and ABL Credit Facility approximate fair value due to the variable interest rate. The fair value of our fixed rate debt, which includes the Monarch note and the Equify note was as follows:


	September 30, 2024		December 31, 2023
Carrying amount of fixed rate debt	$	38.7	$	74.7
Fair value of fixed rate debt	$	38.7	$	74.3