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

Business Combinations and Dispositions (Tables)

v3.25.4
Business Combinations and Dispositions (Tables)
 12 Months Ended
Dec. 31, 2025
Business Acquisition [Line Items]  
Summary of Allocation of Purchase Price

The following table represents our allocation of total purchase consideration of AST, BPC and NRG to the identifiable assets acquired and liabilities assumed based on the fair values on their acquisition dates:

 

 

AST

 

 

BPC

 

 

NRG

 

Cash and cash equivalents

 

$

—

 

 

$

0.1

 

 

$

0.4

 

Accounts receivable

 

 

26.0

 

 

 

5.0

 

 

 

1.2

 

Prepaid expenses and other assets

 

 

4.0

 

 

 

0.3

 

 

 

0.3

 

Operating lease assets

 

 

—

 

 

 

1.5

 

 

 

10.7

 

Inventories

 

 

13.1

 

 

 

12.2

 

 

 

3.9

 

Property, plant and equipment

 

 

158.4

 

 

 

39.8

 

 

 

2.0

 

Intangible assets

 

 

—

 

 

 

5.8

 

 

 

—

 

Total identifiable assets acquired

 

 

201.5

 

 

 

64.7

 

 

 

18.5

 

Accounts payable

 

 

13.9

 

 

 

6.3

 

 

 

1.5

 

Accrued expenses

 

 

2.9

 

 

 

0.2

 

 

 

—

 

Current portion of long-term debt

 

 

—

 

 

 

0.5

 

 

 

—

 

Current portion of operating lease liabilities

 

 

—

 

 

 

0.4

 

 

 

1.0

 

Other current liabilities

 

 

8.1

 

 

 

3.6

 

 

 

—

 

Non-current portion of debt

 

 

—

 

 

 

20.4

 

 

 

—

 

Deferred tax liability

 

 

25.6

 

 

 

—

 

 

 

—

 

Operating lease liabilities

 

 

—

 

 

 

1.2

 

 

 

10.0

 

Other liabilities

 

 

—

 

 

 

1.3

 

 

 

—

 

Total liabilities assumed

 

 

50.5

 

 

 

33.9

 

 

 

12.5

 

Less: noncontrolling interest

 

 

—

 

 

 

2.2

 

 

 

—

 

Goodwill

 

 

22.4

 

 

 

11.2

 

 

 

—

 

Total purchase consideration

 

$

173.4

 

 

$

39.8

 

 

$

6.0

 
Summary of Unaudited Pro Forma Results of Operations Pro forma amounts presented below are for illustrative purposes only and do not reflect future events that occurred after December 31, 2024, or any operating efficiencies or inefficiencies that may result from these significant acquisitions. The results of operations are not necessarily indicative of results that would have been achieved had we controlled AST, BPC, NRG, Producers and Performance Proppants during the periods presented.

 

Year Ended December 31,

 

 

 

2024

 

 

2023

 

Revenues

 

$

2,354.9

 

 

$

3,100.7

 

Net loss

 

$

(209.8

)

 

$

(7.4

)
Producers and Performance Proppants  
Business Acquisition [Line Items]  
Summary of Allocation of Purchase Price

The following table represents our allocation of total purchase consideration of Producers and Performance Proppants to the identifiable assets acquired and liabilities assumed based on the fair values on their acquisition dates:

 

 

Producers

 

 

Performance Proppants

 

Cash and cash equivalents

 

$

0.3

 

 

$

2.0

 

Accounts receivable

 

 

6.6

 

 

 

17.1

 

Prepaid expenses and other assets

 

 

1.1

 

 

 

0.6

 

Inventories

 

 

2.0

 

 

 

7.5

 

Property, plant and equipment

 

 

29.5

 

 

 

476.9

 

Intangible assets

 

 

—

 

 

 

5.6

 

Total identifiable assets acquired

 

 

39.5

 

 

 

509.7

 

Accounts payable

 

 

10.9

 

 

 

16.7

 

Accrued expenses

 

 

2.8

 

 

 

3.3

 

Current portion of long-term debt

 

 

0.2

 

 

 

2.1

 

Other current liabilities

 

 

—

 

 

 

49.6

 

Non-current portion of debt

 

 

0.1

 

 

 

0.6

 

Other non-current liabilities

 

 

—

 

 

 

42.3

 

Total liabilities assumed

 

 

14.0

 

 

 

114.6

 

Goodwill

 

 

11.0

 

 

 

67.7

 

Total purchase consideration

 

$

36.5

 

 

$

462.8