|
During the year ended December 31, 2022, we recorded adjustments to the value of our redeemable noncontrolling interests as shown below:
|
|
|
|
|
|
|
Redeemable Noncontrolling Interests |
|
Balance as of December 31, 2021 |
|
$ |
- |
|
Effect of corporate reorganization and reclassification to redeemable noncontrolling interest |
|
|
377.5 |
|
Adjustment of redeemable noncontrolling interest to redemption amount at IPO (1) |
|
|
1,438.3 |
|
Net income |
|
|
206.0 |
|
Class A Common Stock issued to settle asset purchase |
|
|
21.4 |
|
Class A shares issued to acquire USWS |
|
|
147.4 |
|
Class A shares issued for vested stock awards |
|
|
(0.1 |
) |
Tax withholding related to net share settlement of equity awards |
|
|
(1.9 |
) |
Class B shares issued to acquire REV |
|
|
57.6 |
|
Change in accrued distribution related to income taxes |
|
|
(2.8 |
) |
Stock-based compensation |
|
|
4.0 |
|
Stock-based compensation related to deemed contribution |
|
|
41.6 |
|
Foreign currency translation adjustments |
|
|
0.1 |
|
Adjustment of redeemable noncontrolling interest to redemption amount (2) |
|
|
173.8 |
|
Balance as of December 31, 2022 |
|
$ |
2,462.9 |
|
(1)
Based on 101.1 million shares of Class B Common Stock outstanding and the $18.00 per share IPO price.
(2)
Based on 104.2 million shares of Class B Common Stock outstanding and the 10-day VWAP of Class A Common Stock of $23.63 at December 31, 2022.
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