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

Leases (Tables)

12 Months Ended

Dec. 31, 2024

finance lease balances are as follows:


		December 31,
	Consolidated Balance Sheet Location	2024		2023
Assets:
Finance lease right-of-use assets	Property, plant, and equipment, net	$	19.4	$	11.4
Liabilities:
Current portion of finance lease liabilities	Current portion of long-term debt	$	7.7	$	4.2
Finance lease liabilities	Long-term debt	$	12.2	$	6.5

The components of our lease costs are as follows:


	Year Ended December 31,
	2024		2023		2022
Operating lease costs	$	36.9	$	45.8	$	18.6
Short-term lease costs		27.7		32.3		10.5
Finance lease costs:
Amortization of right-of-use assets		7.3		5.1		0.4
Interest on lease liabilities		1.2		1.0		0.1
Total lease costs	$	73.1	$	84.2	$	29.6

The weighted-average remaining lease term and discount rates used in the measurement of our right-of-use assets and lease liabilities are as follows:


	Year Ended December 31,
	2024			2023			2022
Weighted-average remaining lease term:
Operating leases	5.9 years			6.4 years			5.9 years
Finance leases	6.3 years			3.7 years			4.0 years
Weighted average discount rate:
Operating leases		8.1	%		5.9	%		6.9	%
Finance leases		5.5	%		7.8	%		7.1	%

The following table includes other supplemental information for our leases:


	Year Ended December 31,
	2024		2023		2022
Cash paid for amounts included in the measurement of lease obligations:
Operating leases	$	37.6	$	46.4	$	18.2
Finance leases	$	8.4	$	6.2	$	0.9
Right-of-use assets obtained in exchange for new lease obligations:
Operating leases	$	103.4	$	11.9	$	50.8
Finance leases	$	9.9	$	8.6	$	3.6
Operating lease right-of-use assets recognized upon adoption of the leasing standard	$	—	$	—	$	35.8

As of December 31, 2024, the future maturities of our lease liabilities are as follows: