ProFrac Holding Corp. Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

12 Months Ended

Dec. 31, 2023

finance lease balances are as follows:


		December 31,
	Consolidated Balance Sheet Location	2023		2022
Assets:
Finance lease right-of-use assets	Property, plant, and equipment, net	$	11.4	$	10.3
Liabilities:
Current portion of finance lease liabilities	Current portion of long-term debt	$	4.2	$	2.3
Finance lease liabilities	Long-term debt	$	6.5	$	7.0

The components of our lease costs are as follows:


	Year Ended December 31,
	2023		2022
Operating lease costs	$	45.8	$	18.6
Short-term lease costs		32.3		10.5
Finance lease costs:
Amortization of right-of-use assets		5.1		0.4
Interest on lease liabilities		1.0		0.1
Total lease costs	$	84.2	$	29.6

The weighted-average remaining lease term and discount rates used in the measurement of our right-of-use assets and lease liabilities are as follows:


	Year Ended December 31,
	2023			2022
Weighted-average remaining lease term:
Operating leases	6.4 years			5.9 years
Finance leases	3.7 years			4.0 years
Weighted average discount rate:
Operating leases		5.9	%		6.9	%
Finance leases		7.8	%		7.1	%

The following table includes other supplemental information for our leases:


	Year Ended December 31,
	2023		2022
Cash paid for amounts included in the measurement of lease obligations:
Operating leases	$	46.4	$	18.2
Finance leases	$	6.2	$	0.9
Right-of-use assets obtained in exchange for new lease obligations:
Operating leases	$	11.9	$	50.8
Finance leases	$	8.6	$	3.6
Operating lease right-of-use assets recognized upon adoption of the leasing standard	$	—	$	35.8

As of December 31, 2023, the future maturities of our leases liabilities are as follows: