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Contract Assets (Tables) | 6 Months Ended
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Jun. 30, 2022
Revenue Recognition [Abstract] |
Schedule of outstanding contract assets | Contract assets are as follows (in thousands):
| June 30, 2022 |  | December 31, 2021
Contract assets | 83,060 |  |  | — |
Less accumulated amortization | (737) |  |  | — |
Contract assets, (net) | $ | 82,323 |  |  | $ | — |
The below table reflects our estimated amortization per year (in thousands) based on our current forecasted revenues from the ProFrac Agreements.
Years ending December 31, |  | Amortization |  |
2022 (excluding the six months ended June 30, 2022) | $ | 2,655 |  |  |
2023 |  | 7,922 |  |  |
2024 |  | 8,696 |  |  |
2025 |  | 8,696 |  |  |
2026 |  | 8,696 |  |  |
Thereafter through May 2032 |  | 45,658 |  |  |
Total contract assets |  | $ | 82,323 |  |  |

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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045 + Details
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