ProFrac Holding Corp
For the period ended Mar 31, 2024. Filed May 10, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 10, 2024
ACDC$3.53+3.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| Three Months EndedMarch 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net income | $3.0 | $59.8 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation, depletion and amortization | 112.8 | 110.3 |
| Amortization of acquired contract liabilities | (16.5) | (8.1) |
| Stock-based compensation | 2.1 | 13.1 |
| Loss (gain) on disposal of assets, net | (1.4) | 1.5 |
| Non-cash loss (gain) on extinguishment of debt | 0.8 | (4.1) |
| Amortization of debt issuance costs | 3.2 | 6.1 |
| Acquisition earnout adjustment | — | (3.0) |
| Unrealized loss (gain) on investments, net | (1.2) | 9.7 |
| Deferred tax expense | 0.2 | — |
| Other non-cash items, net | — | 0.1 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (41.2) | (41.9) |
| Inventories | 16.6 | (24.7) |
| Prepaid expenses and other assets | 1.4 | (1.8) |
| Accounts payable | (20.3) | 136.5 |
| Accrued expenses | 23.3 | (3.1) |
| Other liabilities | (3.7) | (16.9) |
| Net cash provided by operating activities | 79.1 | 233.5 |
| Cash flows from investing activities: | ||
| Acquisitions, net of cash acquired | — | (443.6) |
| Investment in property, plant & equipment | (59.9) | (83.2) |
| Proceeds from sale of assets | 6.6 | 1.0 |
| Net cash used in investing activities | (53.3) | (525.8) |
| Cash flows from financing activities: | ||
| Proceeds from issuance of long-term debt | — | 320.0 |
| Repayments of long-term debt | (37.5) | (18.2) |
| Borrowings from revolving credit agreements | 501.1 | 406.7 |
| Repayments of revolving credit agreements | (485.2) | (363.0) |
| Payment of debt issuance costs | (1.1) | (18.4) |
| Tax withholding related to net share settlement of equity awards | (0.1) | — |
| Net cash provided by (used in) financing activities | (22.8) | 327.1 |
| Net increase in cash, cash equivalents, and restricted cash | 3.0 | 34.8 |
| Cash, cash equivalents, and restricted cash beginning of period | 25.3 | 37.9 |
| Cash, cash equivalents, and restricted cash end of period | $28.3 | $72.7 |
| Non-cash investing and financing activities | ||
| Capital expenditures included in accounts payable | $22.6 | $54.2 |
| Operating lease liabilities incurred from obtaining right-of-use assets | $5.7 | $6.1 |
Notes to Unaudited Condensed Consolidated Financial Statements
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.