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

Consolidated Statements of Changes in Equity

v3.25.4
Consolidated Statements of Changes in Equity - USD ($)
$ in Millions
Total
Producers
Performance Proppants
Common Stock
Class A Common Stock
Common Stock
Class A Common Stock
Producers
Common Stock
Class A Common Stock
Performance Proppants
Common Stock
Class B Common Stock
Additional Paid-in Capital
Additional Paid-in Capital
Producers
Additional Paid-in Capital
Performance Proppants
Additional Paid-in Capital
Class A Common Stock
(Accumulated Deficit) Retained Earnings
Accumulated Other Comprehensive Income
Noncontrolling Interests
Noncontrolling Interests
Class A Common Stock
Beginning balance at Dec. 31, 2022 $ (1,112.2)     $ 0.5     $ 1.0         $ (1,185.9)   $ 72.2  
Beginning balance, Shares at Dec. 31, 2022       53,900,000     104,200,000                
Stock issued for acquisition   $ 6.2 $ 3.4           $ 6.2 $ 3.4          
Stock issued for acquisition, shares         400,000 300,000                  
Net income (loss) (101.0)                     (97.7)   (3.3)  
Stock-based compensation 8.1             $ 7.8           0.3  
Stock-based compensation related to deemed contribution 12.4             12.4              
Flotek common stock issued to satisfy convertible notes held by third parties 12.7                         12.7  
Adjustment of redeemable noncontrolling interest to redemption amount 1,210.3             (67.1)       1,277.4      
Conversion of Class B shares to Class A shares 1,313.3     $ 1.0     $ (1.0) 1,313.3              
Conversion of Class B shares to Class A shares, Shares       104,200,000     (104,200,000)                
Class A shares issued for vested stock awards       600,000                      
Tax withholding related to net share settlement of equity awards (0.8)             (0.8)              
Foreign currency translation adjustments 0.2                       $ 0.3 (0.1)  
Adjustment to additional paid-in capital related to tax receivable agreement (67.6)             (67.6)              
Change in equity ownership of Flotek               23.1           (23.1)  
Change in accrued distribution related to income taxes (5.3)             (5.3)              
Adjustment of convertible preferred stock to redemption amount (9.8)                     (9.8)      
Ending balance at Dec. 31, 2023 1,269.9     $ 1.5       1,225.4       (16.0) 0.3 58.7  
Ending balance, Shares at Dec. 31, 2023       159,400,000                      
Net income (loss) (207.8)                     (215.1)   7.3  
Stock-based compensation 7.3             6.5           0.8  
Class A shares issued for vested stock awards       800,000                      
Tax withholding related to net share settlement of equity awards (1.5)             (1.5)              
Tax withholding related to net share settlement of equity awards, shares       (200,000)                      
Foreign currency translation adjustments                         (0.2) 0.2  
Share issuance, shares       200,000                      
Noncontrolling interest of acquired business 2.2                         2.2  
Deemed contribution 26.5             26.5              
Adjustment to additional paid-in capital related to tax receivable agreement (14.9)             (14.9)              
Other (0.8)             (0.8)              
Adjustment of convertible preferred stock to redemption amount (4.8)                     (4.8)      
Ending balance at Dec. 31, 2024 1,076.1     $ 1.5       1,241.2       (235.9) 0.1 69.2  
Ending balance, Shares at Dec. 31, 2024       160,200,000                      
Net income (loss) (355.5)                     (369.0)   13.5  
Stock-based compensation 4.0             3.1           0.9  
Class A shares issued for vested stock awards       300,000                      
Cash settlement of vested stock awards, shares       (200,000)                      
Cash settlement of vested stock awards, value (1.2)             (1.2)              
Foreign currency translation adjustments 0.1                       0.1    
Change in Flotek noncontrolling interest               (7.6)           7.6  
Change in other noncontrolling interest (3.0)             0.4           (3.4)  
Subsidiary transactions with noncontrolling interests (1.4)                         (1.4)  
Transfer of foreign currency translation of disposed subsidiary (0.2)                       $ (0.2)    
Realization of deferred tax assets from Flotek transaction 17.8             10.4           7.4  
Share issuance 79.6     $ 0.3             $ 78.7       $ 0.6
Share issuance, shares       20,600,000                      
Deemed contribution 0.9             0.9              
Adjustment of convertible preferred stock to redemption amount (5.3)                     (5.3)      
Ending balance at Dec. 31, 2025 $ 811.9     $ 1.8       $ 1,325.9       $ (610.2)   $ 94.4  
Ending balance, Shares at Dec. 31, 2025       180,900,000