Registration of securities issued in business combination transactions

Supplemental balance sheet information

v3.22.2.2
Supplemental balance sheet information
6 Months Ended
Jun. 30, 2022
Balance Sheet Related Disclosures [Abstract]  
Supplemental balance sheet information
4. Supplemental balance sheet information
Inventories
The following table summarizes the components of our inventories as of June 30, 2022, and December 31, 2021:
 
(In thousands)
  
June 30,

2022
    
December 31,

2021
 
Raw materials and supplies
   $ 82,865      $ 13,911  
Work in process
     8,769        3,288  
Finished products and parts
     100,743        56,743  
    
 
 
    
 
 
 
Total
   $ 192,377      $ 73,942  
    
 
 
    
 
 
 
The increase in inventory from December 31, 2021, to June 30, 2022 was partially due to acquired inventory of $54.5 million related to our acquisitions of FTS International, Inc. (“FTSI”) and Flotek Industries, Inc. (“Flotek”). The remaining increase is related to our increased activity levels in 2022.
Accrued Expenses
The following table summarizes our accrued expenses as of June 30, 2022, and December 31, 2021:
 
(In thousands)
  
June 30,

2022
    
December 31,

2021
 
Accrual for purchased materials
   $ 64,617      $ 15,600  
Employee compensation and benefits
     27,134        8,107  
Sales, use, and property taxes
     12,007        5,974  
Interest
     9,058        879  
Income taxes
     3,600        —    
Tax receivable agreement
     3,448        —    
Tax distribution to redeemable noncontrolling interests
     15,644        —    
Other
     23,796        7,589  
    
 
 
    
 
 
 
Total
   $ 159,304      $ 38,149