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ProFrac Holding Corp

For the period ended Dec 31, 2023. Filed Mar 15, 2024.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Mar 15, 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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Contents

Item 8. Consolidated Statements of Cash Flows

CONSOLIDATED STAT EMENTS OF CASH FLOWS

Year Ended December 31,
202320222021
Cash flows from operating activities:
Net income (loss)$(59.2)$342.7$(43.5)
Adjustments to reconcile net income (loss) to net cash provided by operating activities :
Depreciation, depletion and amortization438.4267.3140.7
Amortization of acquired contract liabilities(57.5)(6.6)—
Stock-based compensation29.867.4—
Loss (gain) on disposal of assets, net(1.7)2.19.8
Non-cash loss on extinguishment of debt17.410.70.5
Amortization of debt issuance costs24.36.72.2
Acquisition earnout adjustment(6.6)——
Loss (gain) on investments, net38.5(16.5)—
Deferred tax expense0.13.7—
Other non-cash items, net—2.0(1.3)
Changes in operating assets and liabilities:
Accounts receivable204.8(203.3)(89.6)
Inventories19.1(105.1)(16.1)
Prepaid expenses and other assets26.5(26.4)3.8
Accounts payable(68.2)42.931.6
Accrued expenses(43.8)18.56.1
Other liabilities(8.4)9.1(0.3)
Net cash provided by operating activities553.5415.243.9
Cash flows from investing activities:
Acquisitions, net of cash acquired(454.5)(640.7)(4.3)
Investment in property, plant & equipment(267.0)(356.2)(87.4)
Proceeds from sale of assets6.248.317.5
Investment in unconsolidated affiliate—(47.2)(4.2)
Initial investment in Flotek—(10.0)—
Other investments(0.5)(22.8)—
Net cash used in investing activities(715.8)(1,028.6)(78.4)
Cash flows from financing activities:
Proceeds from issuance of long-term debt1,220.0818.9160.3
Repayments of long-term debt(946.7)(531.7)(146.9)
Borrowings from revolving credit agreements1,575.8567.963.5
Repayments to revolving credit agreements(1,685.2)(402.7)(35.5)
Payment of debt issuance costs(62.3)(38.6)(2.0)
Tax withholding related to net share settlement of equity awards(0.8)——
Proceeds from issuance of Series A preferred stock50.0——
Payment of Series A preferred stock issuance costs(1.1)——
Member contribution—5.0—
Proceeds from issuance of common stock—329.1—
Payment of common stock issuance costs—(27.4)—
Payment of THRC related equity—(72.9)—
Other—(1.7)(2.5)
Net cash provided by financing activities149.7645.936.9
Net increase (decrease) in cash, cash equivalents, and restricted cash(12.6)32.52.4
Cash, cash equivalents, and restricted cash beginning of period37.95.43.0
Cash, cash equivalents, and restricted cash end of period$25.3$37.9$5.4
Supplemental cash flow information
Cash payments for interest$139.1$35.0$23.5
Cash payments (refunds received) for income taxes$0.3$4.8$(0.2)
Non-cash investing and financing activities
Capital expenditures included in accounts payable$44.9$26.9$24.9
ContentsView on SEC.gov

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