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Contract Assets (Tables)

6 Months Ended

Jun. 30, 2024

Revenue Recognition [Abstract]

Schedule of Outstanding Contract Assets

Contract assets are as follows (in thousands):

			June 30, 2024						December 31, 2023
Contract assets			$	83,060					$	83,060
Less accumulated amortization			(11,153)						(8,404)
Contract assets, net			71,907						74,656
Less current contract assets			(5,786)						(5,836)
Contract assets, long term			$	66,121					$	68,820

The below table reflects our estimated amortization per year (in thousands) based on the Company’s current forecasted revenues from the ProFrac Agreement.

Years ending December 31,						Amortization
2024 (excluding the six months ended June 30, 2024)						$	2,738
2025						6,332
2026						8,990
2027						10,256
2028						10,256
Thereafter through May 2032						33,335
Total contract assets						$	71,907

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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
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

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- References

No definition available.

+ Details

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