Quarterly report pursuant to Section 13 or 15(d)

Acquisitions and investments (Tables)

v3.22.2
Acquisitions and investments (Tables)
 3 Months Ended
Mar. 31, 2022
Business Acquisition [Line Items]  
Summary of Unaudited Pro Forma Results of Operations

The following unaudited pro forma results of operations have been prepared as though the FTSI acquisition had been completed on January 1, 2021. Pro forma amounts are based on the purchase price allocation of the significant acquisition and are not necessarily indicative of the results that may be reported in the future.

 

 

 

Three Months Ended March 31,

 

(In thousands)

 

2022

 

 

2021

 

Revenue

 

$

421,615

 

 

$

245,493

 

Net loss

 

$

(1,223

)

 

$

(49,626

)

 
FTS International, Inc  
Business Acquisition [Line Items]  
Summary of Preliminary Allocation of Purchase Price

The following table summarizes the preliminary allocation of the purchase price:

 

(In thousands)

 

 

 

 

Assets acquired:

 

 

 

 

Cash and cash equivalents

 

$

53,771

 

Accounts receivable

 

 

89,268

 

Prepaid expense and other assets

 

 

4,037

 

Inventories

 

 

42,344

 

Property, plant and equipment

 

 

307,113

 

Operating lease ROU asset

 

 

2,748

 

Intangible assets

 

 

1,239

 

Other assets

 

 

1,583

 

Total assets acquired

 

 

502,103

 

Liabilities assumed:

 

 

 

 

Accounts payable

 

 

62,985

 

Accrued expenses

 

 

19,308

 

Operating lease liability current

 

 

1,235

 

Current portion of debt

 

 

10,136

 

Other current liabilities

 

 

309

 

Operating lease liability non-current

 

 

1,512

 

Other non-current liabilities

 

 

928

 

Total liabilities assumed

 

 

96,413

 

Net assets acquired

 

$

405,690