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Earnings per Share | 6 Months Ended
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Jun. 30, 2024
Earnings Per Share [Abstract] |
Earnings per Share | NOTE 8. EARNINGS PER SHARE The calculation of earnings per share ("EPS") for our Class A common stock is as follows:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) attributable to ProFrac Holding Corp. |  | $ | (66.7 | ) |  | $ | (2.9 | ) |  | $ | (64.9 | ) |  | $ | 19.1 |
Adjust Series A redeemable convertible preferred stock to its maximum redemption value |  |  | (1.2 | ) |  |  | — |  |  |  | (2.4 | ) |  |  | — |
Net income (loss) used for basic earnings per Class A common share |  |  | (67.9 | ) |  |  | (2.9 | ) |  |  | (67.3 | ) |  |  | 19.1 |
Net income reallocated to dilutive Class A common shares |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Net income(loss) used for diluted earnings per Class A common share |  | $ | (67.9 | ) |  | $ | (2.9 | ) |  | $ | (67.3 | ) |  | $ | 19.1 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Weighted average Class A common shares |  |  | 160.0 |  |  |  | 148.8 |  |  |  | 159.7 |  |  |  | 101.9 |
Dilutive potential of employee restricted stock units |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 0.2 |
Weighted average Class A common shares — diluted |  |  | 160.0 |  |  |  | 148.8 |  |  |  | 159.7 |  |  |  | 102.1 |
Basic and diluted earnings per Class A common share |  | $ | (0.42 | ) |  | $ | (0.02 | ) |  | $ | (0.42 | ) |  | $ | 0.19 |
Antidilutive shares: |  |  |  |  |  |  |  |  |  |  |  |
Common stock equivalents related to Preferred Stock |  |  | 2.7 |  |  |  | — |  |  |  | 2.6 |  |  |  | — |
Employee restricted stock units which are antidilutive due to net loss position |  |  | 0.1 |  |  |  | — |  |  |  | 0.2 |  |  |  | — |
Total antidilutive shares |  |  | 2.8 |  |  |  | — |  |  |  | 2.8 |  |  |  | — |
The dilutive potential of employee restricted stock units is calculated using the treasury stock method. The dilutive potential of our Series A redeemable convertible preferred stock, par value $0.01 per share (the "Preferred Stock") is calculated using the if-converted method.

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