ProFrac Holding Corp. Quarterly report pursuant to Section 13 or 15(d)

Description of Business and Basis of Presentation (Tables)

3 Months Ended

Mar. 31, 2023

Cash, cash equivalents and restricted cash are recorded in our unaudited condensed consolidated balance sheet as follows:


	March 31, 2023		March 31, 2022
Cash and cash equivalents	$	69.9	$	28.6
Restricted cash included in prepaid expenses and other current assets		2.8		2.1
Total cash, cash equivalents and restricted cash	$	72.7	$	30.7

Activity related to the value of our redeemable noncontrolling interests is as follows:


Balance as of December 31, 2022	$	2,462.9
Class A shares issued to acquire Producers		6.7
Class A shares issued to acquire Performance Proppants		2.8
Net income		42.0
Stock-based compensation		1.9
Stock-based compensation related to deemed contribution		6.7
Foreign currency translation adjustments		0.1
Adjustment of redeemable noncontrolling interest to redemption amount (1)		(1,268.2	)
Balance as of March 31, 2023	$	1,254.9

(1)

Based on 104.2 million shares of Class B common stock outstanding and the 10-day VWAP of Class A common stock of $12.04 at March 31, 2023.