Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Changes in Equity (Unaudited)

v3.24.3
Condensed Consolidated Statements of Changes in Equity (Unaudited) - USD ($)
$ in Millions
Total
Producers
Performance Proppants
Common Stock
Class A Common Stock
Common Stock
Class A Common Stock
Producers
Common Stock
Class A Common Stock
Performance Proppants
Common Stock
Class B Common Stock
Additional Paid-in Capital
Additional Paid-in Capital
Producers
Additional Paid-in Capital
Performance Proppants
(Accumulated Deficit) Retained Earnings
Accumulated Other Comprehensive Income (loss)
Noncontrolling Interests
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   $ 6.2 $ 3.4           $ 6.2 $ 3.4      
Stock issued for acquisition, shares         400,000 300,000              
Net income (loss) 17.8                   22.0   (4.2)
Stock-based compensation 1.0             0.9         0.1
Stock-based compensation related to deemed contribution 3.5             3.5          
Conversion of Flotek notes to equity/common stock issued to satisfy convertible notes 12.7                       12.7
Foreign currency translation adjustments 0.2                     $ 0.1 0.1
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            
Net income (loss) (4.4)                   (2.9)   (1.5)
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)          
Share issuance, shares       600,000                  
Conversion of Flotek notes to equity/common stock issued to satisfy convertible notes               14.3         (14.3)
Foreign currency translation adjustments (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)            
Additional paid-in capital related to tax receivable agreement (58.6)             (58.6)          
Deferred taxes related to conversion of Class B common stock to Class A common stock/ Deferred taxes related to Class B share conversion to Class A shares (9.5)             (9.5)          
Ending balance at Jun. 30, 2023 1,391.6     $ 1.5       1,215.1     110.6 (0.2) 64.6
Ending balance, Shares at Jun. 30, 2023       159,400,000                  
Net income (loss) (17.9)                   (24.5)   6.6
Stock-based compensation 2.3             2.0         0.3
Stock-based compensation related to deemed contribution 2.1             2.1          
Deferred taxes related to conversion of Class B common stock to Class A common stock/ 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)    
Ending balance at Sep. 30, 2023 1,369.8     $ 1.5       1,219.5     77.5 (0.2) 71.5
Ending balance, Shares at Sep. 30, 2023       159,400,000                  
Beginning balance at Dec. 31, 2023 1,269.9     $ 1.5       1,225.4     (16.0) 0.3 58.7
Beginning balance, Shares at Dec. 31, 2023       159,400,000                  
Net income (loss) 3.0                   1.8 1.2
Stock-based compensation 2.1             1.9         0.2
Tax withholding related to net share settlement of equity awards (0.1)             (0.1)          
Share issuance, shares       200,000                  
Adjustment of convertible Series A redeemable preferred stock to redemption amount (1.2)                   (1.2)    
Ending balance at Mar. 31, 2024 1,273.7     $ 1.5       1,227.2     (15.4) 0.3 60.1
Ending balance, Shares at Mar. 31, 2024       159,600,000                  
Net income (loss) (65.6)                   (66.7)   1.1
Stock-based compensation 2.9             2.8         0.1
Tax withholding related to net share settlement of equity awards (1.4)             (1.4)          
Tax withholding related to net share settlement of equity awards, shares       (200,000)                  
Share issuance, shares       800,000                  
Foreign currency translation adjustments 0.4                     (0.1) 0.5
Adjustment of convertible Series A redeemable preferred stock to redemption amount (1.2)                   (1.2)    
Noncontrolling interest of acquired business 2.2                       2.2
Ending balance at Jun. 30, 2024 1,211.0     $ 1.5       1,228.6     (83.3) 0.2 64.0
Ending balance, Shares at Jun. 30, 2024       160,200,000                  
Net income (loss) (43.5)                   (45.2)   1.7
Stock-based compensation 1.1             0.9         0.2
Foreign currency translation adjustments (0.2)                     0.1 (0.3)
Adjustment of convertible Series A redeemable preferred stock to redemption amount (1.2)                   (1.2)    
Ending balance at Sep. 30, 2024 $ 1,167.2     $ 1.5       $ 1,229.5     $ (129.7) $ 0.3 $ 65.6
Ending balance, Shares at Sep. 30, 2024       160,200,000