Annual report pursuant to Section 13 and 15(d)

Summary of significant accounting policies (Tables)

v3.23.1
Summary of significant accounting policies (Tables)
 12 Months Ended
Dec. 31, 2022
Concentration Risk [Line Items]  
Summary of Reconciliation of Cash, Cash Equivalents, and Restricted Cash

The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the consolidated statements of cash flows for the periods indicated:

 

 

December 31,

 

 

 

2022

 

 

2021

 

 

2020

 

Cash and cash equivalents

 

$

35.1

 

 

$

5.4

 

 

$

3.0

 

Restricted cash included in prepaid expenses and other current assets

 

 

2.8

 

 

 

-

 

 

 

-

 

Total cash, cash equivalents, and restricted cash shown in the
   consolidated statements of cash flows

 

$

37.9

 

 

$

5.4

 

 

$

3.0

 

 
Summary of Allowance For Credit Losses

The following table summarizes the rollforward of our allowance for credit losses:

 

 

December 31,

 

 

 

2022

 

 

2021

 

Balance at beginning of period

 

$

(0.7

)

 

$

(1.9

)

Provision for credit losses, net of recoveries

 

 

(1.9

)

 

 

1.2

 

Write-offs

 

 

-

 

 

 

-

 

Balance at end of period

 

$

(2.6

)

 

$

(0.7

)
Summary of Estimated Useful Life

Land

 

Indefinite

Machinery and equipment

 

2 - 15 years

Office equipment, software, and other

 

3 - 7 years

Buildings and leasehold improvements

 

2 - 40 years
Summary of Changes in Carrying Amount of Goodwill by Reportable Segment

The changes in the carrying amount of goodwill by reportable segment were as follows:

 

 

Stimulation
Services

 

 

Manufacturing

 

 

Proppant
Production

 

 

Other

 

 

Total

 

Balances as of December 31, 2021

 

$

-

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

-

 

Acquisition of Flotek

 

 

-

 

 

 

-

 

 

 

-

 

 

 

81.7

 

 

 

81.7

 

Acquisition of Monahans

 

 

-

 

 

 

-

 

 

 

3.3

 

 

 

-

 

 

 

3.3

 

Acquisition of USWS

 

 

127.3

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

127.3

 

Acquisition of Monarch

 

 

-

 

 

 

-

 

 

 

2.2

 

 

 

-

 

 

 

2.2

 

Acquisition of REV

 

 

26.0

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

26.0

 

Balances as of December 31, 2022

 

$

153.3

 

 

$

-

 

 

$

5.5

 

 

$

81.7

 

 

$

240.5