Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Changes in Equity (Unaudited)

v3.23.3
Condensed Consolidated Statements of Changes in Equity (Unaudited) - USD ($)
$ in Millions
Total
IPO
Producers
Common Stock
Class A Common Stock
Common Stock
Class A Common Stock
IPO
Common Stock
Class A Common Stock
Producers
Common Stock
Class B Common Stock
Additional Paid-in Capital
Additional Paid-in Capital
IPO
Additional Paid-in Capital
Producers
(Accumulated Deficit) Retained Earnings
(Accumulated Deficit) Retained Earnings
IPO
Accumulated Other Comprehensive Income
Noncontrolling Interests
Members' Equity
Beginning balance at Dec. 31, 2021 $ 148.1                       $ 0.1 $ 1.0 $ 147.0
Member contributions 5.0                           5.0
Deemed distribution (3.7)                           (3.7)
Stock issued for acquisition 72.9                           72.9
Net (loss) income 20.0                         0.4 19.6
Foreign currency translation (0.1)                       (0.1)    
Ending balance at Mar. 31, 2022 242.2                         1.4 240.8
Beginning balance at Dec. 31, 2021 148.1                       0.1 1.0 147.0
Net (loss) income 226.7                            
Foreign currency translation 0.1                            
Ending balance at Sep. 30, 2022 (796.1)     $ 0.4     $ 1.0       $ (879.3)     81.8  
Ending balance, Shares at Sep. 30, 2022       41,200,000     101,100,000                
Beginning balance at Mar. 31, 2022 242.2                         1.4 240.8
Stock-based compensation 0.8             $ 0.3           0.5  
Stock-based compensation related to deemed contribution 11.3             11.3              
Net income prior to corporate reorganization 54.0                           54.0
Issuance of shares 1.0 $ 227.7     $ 0.2   $ 1.0   $ 227.5            
Issuance of shares, Shares         18,200,000   101,100,000                
Effect of corporate reorganization and reclassification to redeemable noncontrolling interest (377.5)     $ 0.2       (82.9)             $ (294.8)
Effect of corporate reorganization and reclassification to redeemable noncontrolling interest, Shares       20,900,000                      
Class A shares issued to settle asset purchase 16.7             16.7              
Class A shares issued to settle asset purchase, Shares       2,100,000                      
Net income (loss) after corporate reorganization (2.1)                   6.6     (8.7)  
Recognition of Flotek noncontrolling interest 99.6                         99.6  
Additional paid-in capital related to tax receivable agreement 0.6             0.6              
Adjustment of redeemable noncontrolling interest to redemption amount (159.4) $ (1,438.3)           (27.1) $ (146.4)   (132.3) $ (1,291.9)      
Ending balance at Jun. 30, 2022 (1,323.4)     $ 0.4     $ 1.0       (1,417.6)     92.8  
Ending balance, Shares at Jun. 30, 2022       41,200,000     101,100,000                
Stock-based compensation 1.3             0.6           0.7  
Stock-based compensation related to deemed contribution 3.0             3.0              
Net income (loss) 32.2                   44.0     (11.8)  
Net (loss) income 139.3                            
Foreign currency translation 0.2                            
Foreign currency translation 0.1                         0.1  
Other 0.1             0.1              
Adjustment of redeemable noncontrolling interest to redemption amount (490.6)             3.7     (494.3)        
Ending balance at Sep. 30, 2022 (796.1)     $ 0.4     $ 1.0       (879.3)     81.8  
Ending balance, Shares at Sep. 30, 2022       41,200,000     101,100,000                
Beginning balance at Dec. 31, 2022 (1,112.2)     $ 0.5     $ 1.0       (1,185.9)     72.2  
Beginning balance, Shares at Dec. 31, 2022       53,900,000     104,200,000                
Stock issued for acquisition     $ 9.6             $ 9.6          
Stock issued for acquisition, shares           700,000                  
Stock-based compensation 1.0             0.9           0.1  
Stock-based compensation related to deemed contribution 3.5             3.5              
Net income (loss) 17.8                   22.0     (4.2)  
Foreign currency translation 0.2                       0.1 0.1  
Flotek common stock issued to satisfy convertible notes held by third parties/ ProFrac Holdings Corp 12.7                         12.7  
Adjustment of redeemable noncontrolling interest to redemption amount 1,268.2             (9.2)     1,277.4        
Ending balance at Mar. 31, 2023 200.8     $ 0.5     $ 1.0 4.8     113.5   0.1 80.9  
Ending balance, Shares at Mar. 31, 2023       54,600,000     104,200,000                
Beginning balance at Dec. 31, 2022 (1,112.2)     $ 0.5     $ 1.0       (1,185.9)     72.2  
Beginning balance, Shares at Dec. 31, 2022       53,900,000     104,200,000                
Net (loss) income 37.3                            
Foreign currency translation (0.1)                            
Ending balance at Sep. 30, 2023 1,304.3     $ 1.5       1,171.3     77.5   (0.2) 54.2  
Ending balance, Shares at Sep. 30, 2023       159.4                      
Beginning balance at Mar. 31, 2023 200.8     $ 0.5     $ 1.0 4.8     113.5   0.1 80.9  
Beginning balance, Shares at Mar. 31, 2023       54,600,000     104,200,000                
Stock-based compensation 2.3             2.7           (0.4)  
Stock-based compensation related to deemed contribution 6.8             6.8              
Tax withholding related to net share settlement of equity awards (0.8)             (0.8)              
Deferred taxes related to Class B share conversion to Class A shares (74.7)             (74.7)              
Net income (loss) (4.4)                   (2.9)     (1.5)  
Other comprehensive income (loss) (0.4)                       (0.3) (0.1)  
Adjustment of redeemable noncontrolling interest to redemption amount (57.9)             (57.9)              
Conversion of Class B common stock to Class A common stock 1,313.3     $ 1.0     $ (1.0) 1,313.3              
Conversion of Class B common stock to Class A common stock, Shares       104,200,000     (104,200,000)                
Flotek common stock issued to satisfy convertible notes held by third parties/ ProFrac Holdings Corp               31.6           (31.6)  
Issuance of shares, Shares       600,000                      
Additional paid-in capital related to tax receivable agreement (58.9)             (58.9)              
Ending balance at Jun. 30, 2023 1,326.1     $ 1.5       1,166.9     110.6   (0.2) 47.3  
Ending balance, Shares at Jun. 30, 2023       159,400,000                      
Beginning balance at Mar. 31, 2023 200.8     $ 0.5     $ 1.0 4.8     113.5   0.1 80.9  
Beginning balance, Shares at Mar. 31, 2023       54,600,000     104,200,000                
Ending balance at Sep. 30, 2023 1,304.3     $ 1.5       1,171.3     77.5   (0.2) 54.2  
Ending balance, Shares at Sep. 30, 2023       159.4                      
Beginning balance at Jun. 30, 2023 1,326.1     $ 1.5       1,166.9     110.6   (0.2) 47.3  
Beginning balance, Shares at Jun. 30, 2023       159,400,000                      
Stock-based compensation 2.3             2.0           0.3  
Stock-based compensation related to deemed contribution 2.1             2.1              
Deferred taxes related to Class B share conversion to Class A shares (0.3)             (0.3)              
Adjustment of Series A preferred stock to redemption amount (8.6)                   (8.6)        
Net (loss) income (17.9)                   (24.5)     6.6  
Ending balance at Sep. 30, 2023 $ 1,304.3     $ 1.5       $ 1,171.3     $ 77.5   $ (0.2) $ 54.2  
Ending balance, Shares at Sep. 30, 2023       159.4