Target Hospitality Corp

For the period ended Dec 31, 2023. Filed Mar 13, 2024.

About this filing

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 13, 2024

TH$11.06-2.6%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated Balance Sheets

($ in thousands)


· · December 31, · · December 31,
· 2023 · 2022
Assets · · · ·
Current assets: · ·
Cash and cash equivalents	$103,929	$181,673
Accounts receivable, less allowance for credit losses of $550 and $4, respectively	67,092	42,153
Prepaid expenses and other assets	9,479	12,553
Total current assets	180,500	236,379

Specialty rental assets, net	349,064	357,129
Other property, plant and equipment, net	34,631	31,898
Operating lease right-of-use assets, net	19,698	27,298
Goodwill	41,038	41,038
Other intangible assets, net	66,282	75,182
Deferred financing costs revolver, net	2,479	896
Other non-current assets	661	1,907
Total assets	$694,353	$771,727

Liabilities
Current liabilities:
Accounts payable	$20,926	$17,563
Accrued liabilities	33,652	39,642
Deferred revenue and customer deposits	1,794	120,040
Current portion of operating lease obligations	11,914	12,516
Current portion of finance lease and other financing obligations (Note 8)	1,369	1,135
Current warrant liabilities	675	—
Total current liabilities	70,330	190,896

Other liabilities:
Long-term debt (Note 8):
Principal amount	181,446	334,500
Less: unamortized original issue discount	(2,619)	(971)
Less: unamortized term loan deferred financing costs	(734)	(4,681)
Long-term debt, net	178,093	328,848
Long-term finance lease and other financing obligations	1,024	1,088
Long-term operating lease obligations	8,426	11,104
Other non-current liabilities	—	6,309
Deferred revenue and customer deposits	3,675	5,479
Deferred tax liability	53,074	15,172
Asset retirement obligations	2,424	2,247
Warrant liabilities	—	9,737
Total liabilities	317,046	570,880

Commitments and contingencies (Note 12)
Stockholders' equity:
Common Stock, $0.0001 par, 400,000,000 authorized, 111,091,266 issued and 101,660,601 outstanding as of December 31, 2023 and 109,747,366 issued and 100,316,701 outstanding as of December 31, 2022.	10	10
Common Stock in treasury at cost, 9,430,665 shares as of December 31, 2023 and as of December 31, 2022.	(23,559)	(23,559)
Additional paid-in-capital	142,379	139,287
Accumulated other comprehensive loss	(2,638)	(2,574)
Accumulated earnings	261,115	87,683
Total stockholders' equity	377,307	200,847
Total liabilities and stockholders' equity	$694,353	$771,727

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.