ProFrac Holding Corp. Quarterly report pursuant to Section 13 or 15(d)

Redeemable Noncontrolling Interest (Tables)

9 Months Ended

Sep. 30, 2023

Activity related to the redeemable noncontrolling interest is as follows:


Balance as of December 31, 2022	$	2,462.9
Class A shares issued in acquisitions		9.5
Net income		42.0
Stock-based compensation		1.9
Stock-based compensation related to deemed contribution		6.7
Foreign currency translation adjustments		0.1
Adjustment of redeemable noncontrolling interest to redemption amount (1)		(1,268.2	)
Balance as of March 31, 2023		1,254.9
Net loss		(0.2	)
Stock-based compensation		0.1
Stock-based compensation related to deemed contribution		0.6
Foreign currency translation adjustments		—
Adjustment of redeemable noncontrolling interest to redemption amount (2)		57.9
Conversion of Class B common stock to Class A common stock		(1,313.3	)
Balance as of June 30, 2023 and September 30, 2023	$	—

(1)

Based on 104.2 million shares of Class B common stock outstanding and the 10-day VWAP of Class A common stock of $12.04 at March 31, 2023.

(2)

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.