Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Changes in Equity (Unaudited)

v3.25.3
Condensed Consolidated Statements of Changes in Equity (Unaudited) - USD ($)
$ in Millions
Total
Class A Common Stock
Common Stock
Common Stock
Class A Common Stock
Additional Paid-in Capital
Additional Paid-in Capital
Class A Common Stock
Accumulated Deficit
Accumulated Other Comprehensive Income
Noncontrolling Interests
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       0.2          
Adjustment of convertible 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
Class A shares issued for vested stock awards 0.8                
Tax withholding related to net share settlement of equity awards, shares       (0.2)          
Tax withholding related to net share settlement of equity awards $ (1.4)       (1.4)        
Foreign currency translation adjustments 0.4             (0.1) 0.5
Adjustment of Series A 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 Series A 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          
Beginning balance at Dec. 31, 2024 1,076.1     $ 1.5 1,241.2   (235.9) 0.1 69.2
Beginning balance, Shares at Dec. 31, 2024       160,200,000          
Net income (loss) (15.4)           (17.5)   2.1
Stock-based compensation $ 1.1       0.9       0.2
Class A shares issued for vested stock awards 100,000                
Cash settlement of vested stock awards, shares (100,000)                
Cash settlement of vested stock awards, value $ (1.0)       (1.0)        
Foreign currency translation adjustments 0.1             0.1  
Purchase of noncontrolling interest (0.3)               (0.3)
Adjustment of convertible preferred stock to redemption amount (1.3)           (1.3)    
Ending balance at Mar. 31, 2025 1,059.3     $ 1.5 1,241.1   (254.7) 0.2 71.2
Ending balance, Shares at Mar. 31, 2025       160,200,000          
Net income (loss) (107.2)           (108.0)   0.8
Stock-based compensation $ 0.8       0.5       0.3
Class A shares issued for vested stock awards 100,000                
Cash settlement of vested stock awards, shares (100,000)                
Cash settlement of vested stock awards, value $ (0.2)       (0.2)        
Change in Flotek noncontrolling interest         (5.9)       5.9
Change in other noncontrolling interest (2.7)       0.4       (3.1)
Transfer of foreign currency translation of disposed subsidiary (0.2)             $ (0.2)  
Adjustment of convertible preferred stock to redemption amount (1.3)           (1.3)    
Ending balance at Jun. 30, 2025 948.5     $ 1.5 1,235.9   (364.0)   75.1
Ending balance, Shares at Jun. 30, 2025       160,200,000          
Net income (loss) (92.4)           (100.9)   8.5
Stock-based compensation 1.1       0.9       0.2
Subsidiary transactions with noncontrolling interests 0.6               0.6
Change in Flotek noncontrolling interest         (0.2)       0.2
Realization of deferred tax assets from Flotek transaction 17.5       10.2       7.3
Share issuance   $ 79.0   $ 0.3   $ 78.7      
Share issuance, shares       20.6          
Deemed contribution 0.9       0.9        
Adjustment of convertible preferred stock to redemption amount (1.3)           (1.3)    
Ending balance at Sep. 30, 2025 $ 953.9   $ 1.8   $ 1,326.4   $ (466.2)   $ 91.9
Ending balance, Shares at Sep. 30, 2025       180,800,000