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
Mar. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 28.3 $ 25.3
Accounts receivable, net 381.8 346.1
Accounts receivable - related party, net 11.9 6.8
Inventories 219.8 236.6
Prepaid expenses and other current assets 22.8 23.3
Total current assets 664.6 638.1
Property, plant, and equipment (net of accumulated depreciation of $1,083.8 and $1,010.2, respectively) 1,689.8 1,779.0
Operating lease right-of-use assets, net 77.7 87.2
Goodwill 342.3 325.9
Intangible assets, net 164.7 173.5
Investments ($24.9 and $23.4 at fair value, respectively) 30.4 28.9
Deferred tax assets 0.1 0.3
Other assets 37.4 37.8
Total assets 3,007.0 3,070.7
Current liabilities:    
Accounts payable 281.8 319.0
Accounts payable - related party 16.6 21.9
Accrued expenses 89.0 65.6
Current portion of long-term debt 136.4 126.4
Current portion of operating lease liabilities 19.6 24.5
Other current liabilities 64.4 84.1
Other current liabilities - related party 15.8 7.4
Total current liabilities 623.6 648.9
Long-term debt 895.1 923.5
Long-term debt - related party 17.1 18.6
Operating lease liabilities 63.2 67.8
Tax receivable agreement liability 64.8 68.1
Other liabilities 9.6 15.2
Total liabilities 1,673.4 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 59.9 58.7
Stockholders' equity:    
Preferred stock, $0.01 par value, 50.0 shares authorized, no shares issued and outstanding
Additional paid-in capital 1,227.2 1,225.4
Accumulated deficit (15.4) (16.0)
Accumulated other comprehensive income 0.3 0.3
Total stockholders' equity attributable to ProFrac Holding Corp. 1,213.6 1,211.2
Noncontrolling interests 60.1 58.7
Total stockholders' equity 1,273.7 1,269.9
Total liabilities, mezzanine equity, and stockholders' equity 3,007.0 3,070.7
Common Class A    
Stockholders' equity:    
Common stock, value $ 1.5 $ 1.5