Annual report [Section 13 and 15(d), not S-K Item 405]

Significant accounting policies (Tables)

v3.25.0.1
Significant accounting policies (Tables)
 12 Months Ended
Dec. 31, 2024
Concentration Risk [Line Items]  
Summary of Allowance For Credit Losses

The following table summarizes our allowance for credit losses:

 

 

Year Ended December 31,

 

 

 

2024

 

 

2023

 

Balance at beginning of period

 

$

(2.7

)

 

$

(2.6

)

Provision for credit losses, net of recoveries

 

 

—

 

 

 

(0.1

)

Write-offs

 

 

—

 

 

 

—

 

Balance at end of period

 

$

(2.7

)

 

$

(2.7

)
Summary of Estimated Useful Life

Land

 

Indefinite

Machinery and equipment

 

2 - 15 years

Office equipment, software, and other

 

3 - 7 years

Buildings and leasehold improvements

 

2 - 40 years
Summary of Changes in Carrying Amount of Goodwill by Reportable Segment

The changes in the carrying amount of goodwill by reportable segment were as follows:

 

Stimulation
Services

 

 

Proppant
Production

 

 

Manufacturing

 

 

Other

 

 

Total

 

Balance, December 31, 2023

 

$

169.7

 

 

$

74.5

 

 

$

—

 

 

$

81.7

 

 

$

325.9

 

Adjustment

 

 

16.4

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

16.4

 

Impairment of goodwill

 

 

—

 

 

 

(74.5

)

 

 

—

 

 

 

—

 

 

 

(74.5

)

Acquisitions

 

 

16.7

 

 

 

—

 

 

 

9.5

 

 

 

—

 

 

 

26.2

 

Measurement period adjustments

 

 

6.3

 

 

 

—

 

 

 

1.7

 

 

 

—

 

 

 

8.0

 

Balance, December 31, 2024

 

$

209.1

 

 

$

—

 

 

$

11.2

 

 

$

81.7

 

 

$

302.0

 

The adjustment to goodwill in our Stimulation Services reportable segment was to correct an immaterial error related to the accounting for our acquisition of U.S. Well Services, which decreased property, plant, and equipment and increased goodwill.

The measurement period adjustment for the Stimulation Services segment included an adjustment to recognize an unfavorable purchase commitment and its related tax effects assumed in the AST acquisition. The measurement period adjustments for the Manufacturing segment relate to updated values of other liabilities assumed in the acquisition of BPC.