Annual report pursuant to Section 13 and 15(d)

Organization and Description of Business (Tables)

v3.24.0.1
Organization and Description of Business (Tables)
12 Months Ended
Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Redeemable Noncontrolling Interests

Activity related to the redeemable noncontrolling interest is as follows:

 

 

Redeemable Noncontrolling Interests

 

Balance, 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, December 31, 2022

 

$

2,462.9

 

Class A shares issued in acquisitions

 

 

9.5

 

Net income

 

 

41.8

 

Stock-based compensation

 

 

2.0

 

Stock-based compensation related to deemed contribution

 

 

7.3

 

Foreign currency translation adjustments

 

 

0.1

 

Adjustment of redeemable noncontrolling interest to redemption amount (3)

 

 

(1,210.3

)

Conversion of Class B common stock to Class A common stock

 

 

(1,313.3

)

Balance, December 31, 2023

 

$

 

 

(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.
(3)
Based on 104.2 million shares of Class B common stock outstanding and the 10-day VWAP of Class A common stock of $12.60 at April 7, 2023.