Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 24.0 $ 25.3
Accounts receivable, net 378.8 346.1
Accounts receivable - related party, net 11.6 6.8
Inventories 258.8 236.6
Prepaid expenses and other current assets 30.7 23.3
Total current assets 703.9 638.1
Property, plant, and equipment (net of accumulated depreciation of $1,183.5 and $1,010.2, respectively) 1,866.7 1,779.0
Operating lease right-of-use assets, net 103.2 87.2
Goodwill 300.8 325.9
Intangible assets, net 160.4 173.5
Investments ($23.4 at fair value at December 31, 2023) 7.5 28.9
Deferred tax assets 0.1 0.3
Other assets 20.9 37.8
Total assets 3,163.5 3,070.7
Current liabilities:    
Accounts payable 334.5 319.0
Accounts payable - related party 16.7 21.9
Accrued expenses 94.2 65.6
Current portion of long-term debt 174.4 126.4
Current portion of operating lease liabilities 14.5 24.5
Other current liabilities 55.9 84.1
Other current liabilities - related party 9.7 7.4
Total current liabilities 699.9 648.9
Long-term debt 1,008.9 923.5
Long-term debt - related party 15.8 18.6
Operating lease liabilities 94.2 67.8
Tax receivable agreement liability 64.8 68.1
Other liabilities 7.8 15.2
Total liabilities 1,891.4 1,742.1
Commitments and contingencies (NOTE 9)
Mezzanine equity:    
Series A redeemable convertible preferred stock, $0.01 par value, 50 thousand shares authorized, issued and outstanding 61.1 58.7
Stockholders' equity:    
Preferred stock, $0.01 par value, 50.0 shares authorized, no shares issued and outstanding
Additional paid-in capital 1,228.6 1,225.4
Accumulated deficit (83.3) (16.0)
Accumulated other comprehensive income 0.2 0.3
Total stockholders' equity attributable to ProFrac Holding Corp. 1,147.0 1,211.2
Noncontrolling interests 64.0 58.7
Total stockholders' equity 1,211.0 1,269.9
Total liabilities, mezzanine equity, and stockholders' equity 3,163.5 3,070.7
Common Class A    
Stockholders' equity:    
Common stock, value $ 1.5 $ 1.5