2021 Q3 Form 10-Q Financial Statement

#000169402821000042 Filed on October 28, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2020 Q3
Revenue $653.7M $147.5M
YoY Change 343.22% -71.36%
Cost Of Revenue $593.7M $139.2M
YoY Change 326.38% -66.93%
Gross Profit $60.04M $8.258M
YoY Change 627.1% -91.22%
Gross Profit Margin 9.18% 5.6%
Selling, General & Admin $32.28M $18.80M
YoY Change 71.71% -25.69%
% of Gross Profit 53.76% 227.66%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $65.85M $44.50M
YoY Change 48.0% 5.13%
% of Gross Profit 109.67% 538.82%
Operating Expenses $98.13M $63.30M
YoY Change 55.03% -6.36%
Operating Profit -$39.57M -$55.40M
YoY Change -28.58% -308.51%
Interest Expense -$4.007M $3.595M
YoY Change -211.46% -3.52%
% of Operating Profit
Other Income/Expense, Net $940.0K -$3.595M
YoY Change -126.15%
Pretax Income -$38.63M -$59.00M
YoY Change -34.53% -358.77%
Income Tax $800.0K -$10.00M
% Of Pretax Income
Net Earnings -$38.89M -$34.50M
YoY Change 12.72% -413.71%
Net Earnings / Revenue -5.95% -23.39%
Basic Earnings Per Share -$0.22 -$0.41
Diluted Earnings Per Share -$0.22 -$0.41
COMMON SHARES
Basic Shares Outstanding 178.3M shares 84.94M shares
Diluted Shares Outstanding 178.3M shares 84.94M shares

Balance Sheet

Concept 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $34.71M $84.80M
YoY Change -59.07% -39.43%
Cash & Equivalents $34.70M $84.80M
Short-Term Investments
Other Short-Term Assets $85.57M $31.40M
YoY Change 172.51% 36.52%
Inventory $116.8M $76.99M
Prepaid Expenses
Receivables $325.2M $105.9M
Other Receivables $0.00 $400.0K
Total Short-Term Assets $671.6M $337.6M
YoY Change 98.9% -31.97%
LONG-TERM ASSETS
Property, Plant & Equipment $1.070B $582.9M
YoY Change 83.56% -8.74%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $72.87M $29.19M
YoY Change 149.64% -13.77%
Total Long-Term Assets $1.295B $721.1M
YoY Change 79.52% -9.74%
TOTAL ASSETS
Total Short-Term Assets $671.6M $337.6M
Total Long-Term Assets $1.295B $721.1M
Total Assets $1.966B $1.059B
YoY Change 85.7% -18.26%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $229.0M $70.01M
YoY Change 227.1% -23.08%
Accrued Expenses $230.9M $75.50M
YoY Change 205.79% -46.91%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $379.0K $358.0K
YoY Change 5.87% -10.72%
Total Short-Term Liabilities $509.1M $166.0M
YoY Change 206.63% -34.63%
LONG-TERM LIABILITIES
Long-Term Debt $121.1M $105.5M
YoY Change 14.81% -0.31%
Other Long-Term Liabilities $138.7M $101.8M
YoY Change 36.21% 26.3%
Total Long-Term Liabilities $121.1M $105.5M
YoY Change 14.81% -0.31%
TOTAL LIABILITIES
Total Short-Term Liabilities $509.1M $166.0M
Total Long-Term Liabilities $121.1M $105.5M
Total Liabilities $774.2M $382.5M
YoY Change 102.44% -22.23%
SHAREHOLDERS EQUITY
Retained Earnings -$100.4M $60.32M
YoY Change -266.4% -62.17%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.180B $507.6M
YoY Change
Total Liabilities & Shareholders Equity $1.966B $1.059B
YoY Change 85.7% -18.26%

Cashflow Statement

Concept 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income -$38.89M -$34.50M
YoY Change 12.72% -413.71%
Depreciation, Depletion And Amortization $65.85M $44.50M
YoY Change 48.0% 5.13%
Cash From Operating Activities $44.58M -$26.60M
YoY Change -267.58% -118.05%
INVESTING ACTIVITIES
Capital Expenditures -$55.15M -$12.30M
YoY Change 348.35% -55.76%
Acquisitions
YoY Change
Other Investing Activities $1.723M $1.000M
YoY Change 72.3% 400.0%
Cash From Investing Activities -$53.42M -$11.30M
YoY Change 372.78% -59.06%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 13.32M -1.800M
YoY Change -840.22% -85.25%
NET CHANGE
Cash From Operating Activities 44.58M -26.60M
Cash From Investing Activities -53.42M -11.30M
Cash From Financing Activities 13.32M -1.800M
Net Change In Cash 4.476M -39.70M
YoY Change -111.27% -136.9%
FREE CASH FLOW
Cash From Operating Activities $44.58M -$26.60M
Capital Expenditures -$55.15M -$12.30M
Free Cash Flow $99.72M -$14.30M
YoY Change -797.36% -108.16%

Facts In Submission

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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
83299000 shares
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
178311000 shares
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
84937000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
171402000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
83299000 shares
CY2021Q3 us-gaap Profit Loss
ProfitLoss
-39379000 USD
CY2020Q3 us-gaap Profit Loss
ProfitLoss
-49025000 USD
us-gaap Profit Loss
ProfitLoss
-130467000 USD
us-gaap Profit Loss
ProfitLoss
-112443000 USD
us-gaap Profit Loss
ProfitLoss
-112443000 USD
CY2021Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-2287000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
0 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
411000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
0 USD
CY2021Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-41666000 USD
CY2020Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-49025000 USD
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-130056000 USD
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-112443000 USD
CY2021Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-513000 USD
CY2020Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-14523000 USD
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-6592000 USD
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-33890000 USD
CY2021Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-41153000 USD
CY2020Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-34502000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-123464000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-78553000 USD
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.05
us-gaap Distribution Made To Limited Partner Distributions Declared Per Unit
DistributionMadeToLimitedPartnerDistributionsDeclaredPerUnit
0.05
us-gaap Profit Loss
ProfitLoss
-130467000 USD
us-gaap Profit Loss
ProfitLoss
-112443000 USD
lbrt Depreciation And Amortization Excluding Amortization Of Debt Issuance Costs
DepreciationAndAmortizationExcludingAmortizationOfDebtIssuanceCosts
191122000 USD
lbrt Depreciation And Amortization Excluding Amortization Of Debt Issuance Costs
DepreciationAndAmortizationExcludingAmortizationOfDebtIssuanceCosts
134258000 USD
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
1076000 USD
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
520000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1704000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1668000 USD
us-gaap Inventory Write Down
InventoryWriteDown
0 USD
us-gaap Inventory Write Down
InventoryWriteDown
770000 USD
lbrt Lease Non Cash Portion Expense
LeaseNonCashPortionExpense
2834000 USD
lbrt Lease Non Cash Portion Expense
LeaseNonCashPortionExpense
2681000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
15091000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
12894000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
6124000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-21324000 USD
lbrt Gain Loss On Tax Receivable Agreements
GainLossOnTaxReceivableAgreements
8252000 USD
lbrt Gain Loss On Tax Receivable Agreements
GainLossOnTaxReceivableAgreements
-169000 USD
us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
745000 USD
us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
4678000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
121282000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-94573000 USD
us-gaap Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
0 USD
us-gaap Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
-9254000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
6878000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-10788000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
5001000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-16270000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
135981000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-82815000 USD
lbrt Operating Lease Liability Prepayment
OperatingLeaseLiabilityPrepayment
503000 USD
lbrt Operating Lease Liability Prepayment
OperatingLeaseLiabilityPrepayment
895000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
80142000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
70006000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
123008000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
82772000 USD
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
3689000 USD
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
1501000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-119319000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-81271000 USD
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
100000000 USD
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
0 USD
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
84000000 USD
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
0 USD
us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
1313000 USD
us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
1313000 USD
lbrt Finance Lease Principal Payments Net Of Interest Expense
FinanceLeasePrincipalPaymentsNetOfInterestExpense
6144000 USD
lbrt Finance Lease Principal Payments Net Of Interest Expense
FinanceLeasePrincipalPaymentsNetOfInterestExpense
6862000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
0 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
4262000 USD
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
0 USD
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
1532000 USD
lbrt Payments For Distributions And Advances To Minority Shareholders
PaymentsForDistributionsAndAdvancesToMinorityShareholders
-1372000 USD
lbrt Payments For Distributions And Advances To Minority Shareholders
PaymentsForDistributionsAndAdvancesToMinorityShareholders
2234000 USD
lbrt Payments For Restricted Stock Unit Vesting
PaymentsForRestrictedStockUnitVesting
168000 USD
lbrt Payments For Restricted Stock Unit Vesting
PaymentsForRestrictedStockUnitVesting
0 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
3585000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
403000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
1013000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
5149000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-16606000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-34028000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-27871000 USD
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-245000 USD
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
0 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
68978000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
112690000 USD
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
34705000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
84819000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
658000 USD
us-gaap Interest Paid Net
InterestPaidNet
9686000 USD
us-gaap Interest Paid Net
InterestPaidNet
8411000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
25484000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
7824000 USD
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="margin-top:6pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Reclassifications</span></div><div style="margin-top:6pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain amounts in the prior period financial statements have been reclassified from general and administrative to transaction, severance and other costs in the accompanying unaudited condensed consolidated statements of operation to conform to the presentation of the current period financial statements. These reclassifications had no effect on the previously reported net income.</span></div>
CY2021Q3 lbrt Transaction Costs
TransactionCosts
1600000 USD
lbrt Transaction Costs
TransactionCosts
10700000 USD
CY2021Q3 us-gaap Inventory Net
InventoryNet
116795000 USD
CY2020Q4 us-gaap Inventory Net
InventoryNet
118568000 USD
CY2021Q3 us-gaap Inventory Write Down
InventoryWriteDown
0 USD
us-gaap Inventory Write Down
InventoryWriteDown
0 USD
CY2020Q3 us-gaap Inventory Write Down
InventoryWriteDown
0 USD
us-gaap Inventory Write Down
InventoryWriteDown
800000 USD
CY2021Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1764120000 USD
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1589762000 USD
CY2021Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
796118000 USD
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
622530000 USD
CY2021Q3 lbrt Property Plantand Equipment Before Construction In Progress Net
PropertyPlantandEquipmentBeforeConstructionInProgressNet
968002000 USD
CY2020Q4 lbrt Property Plantand Equipment Before Construction In Progress Net
PropertyPlantandEquipmentBeforeConstructionInProgressNet
967232000 USD
CY2021Q3 us-gaap Construction In Progress Gross
ConstructionInProgressGross
101888000 USD
CY2020Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
153718000 USD
CY2021Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1069890000 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1120950000 USD
CY2021Q3 us-gaap Depreciation
Depreciation
61100000 USD
CY2020Q3 us-gaap Depreciation
Depreciation
42400000 USD
us-gaap Depreciation
Depreciation
175900000 USD
us-gaap Depreciation
Depreciation
126300000 USD
CY2021Q3 us-gaap Depletion
Depletion
300000 USD
us-gaap Depletion
Depletion
1000000 USD
CY2021Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
1213000 USD
CY2020Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
1629000 USD
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
4565000 USD
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
6422000 USD
CY2021Q3 lbrt Finance Lease Interest On Lease Liabilities
FinanceLeaseInterestOnLeaseLiabilities
347000 USD
CY2020Q3 lbrt Finance Lease Interest On Lease Liabilities
FinanceLeaseInterestOnLeaseLiabilities
345000 USD
lbrt Finance Lease Interest On Lease Liabilities
FinanceLeaseInterestOnLeaseLiabilities
1318000 USD
lbrt Finance Lease Interest On Lease Liabilities
FinanceLeaseInterestOnLeaseLiabilities
1403000 USD
CY2021Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
12869000 USD
CY2020Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
6841000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
29702000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
18511000 USD
CY2021Q3 us-gaap Variable Lease Cost
VariableLeaseCost
1273000 USD
CY2020Q3 us-gaap Variable Lease Cost
VariableLeaseCost
637000 USD
us-gaap Variable Lease Cost
VariableLeaseCost
3116000 USD
us-gaap Variable Lease Cost
VariableLeaseCost
2208000 USD
CY2021Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
1479000 USD
CY2020Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
0 USD
us-gaap Short Term Lease Cost
ShortTermLeaseCost
3483000 USD
us-gaap Short Term Lease Cost
ShortTermLeaseCost
0 USD
CY2021Q3 us-gaap Sublease Income
SubleaseIncome
0 USD
CY2020Q3 us-gaap Sublease Income
SubleaseIncome
48000 USD
us-gaap Sublease Income
SubleaseIncome
0 USD
us-gaap Sublease Income
SubleaseIncome
64000 USD
CY2021Q3 us-gaap Lease Cost
LeaseCost
17181000 USD
CY2020Q3 us-gaap Lease Cost
LeaseCost
9404000 USD
us-gaap Lease Cost
LeaseCost
42184000 USD
us-gaap Lease Cost
LeaseCost
28480000 USD
CY2021Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
12136000 USD
CY2020Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
6212000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
27420000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
16696000 USD
CY2021Q3 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
2064000 USD
CY2020Q3 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
2242000 USD
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
7099000 USD
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
8266000 USD
CY2021Q3 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
10999000 USD
CY2020Q3 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
9838000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
70205000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
29492000 USD
lbrt Finance Lease Right Of Use Asset Write Off
FinanceLeaseRightOfUseAssetWriteOff
13700000 USD
lbrt Finance Lease Liability Write Off
FinanceLeaseLiabilityWriteOff
10600000 USD
lbrt Operating Lease Right Of Use Asset Increase Decrease
OperatingLeaseRightOfUseAssetIncreaseDecrease
11800000 USD
lbrt Operating Lease Liability Increase Decrease
OperatingLeaseLiabilityIncreaseDecrease
8800000 USD
CY2021Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y10M24D
CY2021Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P1Y6M
CY2020Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P1Y6M
CY2021Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.041
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.048
CY2021Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.079
CY2020Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.058
CY2021Q3 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
3342000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
11902000 USD
CY2021Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
8491000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
39936000 USD
CY2021Q3 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
4356000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
26771000 USD
CY2021Q3 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
0 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
20271000 USD
CY2021Q3 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
0 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
17571000 USD
CY2021Q3 lbrt Finance Lease Liability Payments Due After Year Four
FinanceLeaseLiabilityPaymentsDueAfterYearFour
0 USD
CY2021Q3 lbrt Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
26488000 USD
CY2021Q3 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
16189000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
142939000 USD
CY2021Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
1076000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
14294000 USD
CY2021Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
15113000 USD
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
128645000 USD
CY2021Q3 us-gaap Operating Lease Residual Value Of Leased Asset
OperatingLeaseResidualValueOfLeasedAsset
11500000 USD
CY2021Q3 lbrt Accrued Vendor Invoices Current
AccruedVendorInvoicesCurrent
118632000 USD
CY2020Q4 lbrt Accrued Vendor Invoices Current
AccruedVendorInvoicesCurrent
61210000 USD
CY2021Q3 lbrt Operational Accruals Current
OperationalAccrualsCurrent
63694000 USD
CY2020Q4 lbrt Operational Accruals Current
OperationalAccrualsCurrent
28932000 USD
CY2021Q3 lbrt Accrued Benefits And Other Current
AccruedBenefitsAndOtherCurrent
48546000 USD
CY2020Q4 lbrt Accrued Benefits And Other Current
AccruedBenefitsAndOtherCurrent
28241000 USD
CY2021Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
230872000 USD
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
118383000 USD
CY2021Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
1399000 USD
CY2020Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
2440000 USD
CY2021Q3 us-gaap Long Term Debt
LongTermDebt
121504000 USD
CY2020Q4 us-gaap Long Term Debt
LongTermDebt
105775000 USD
CY2021Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
379000 USD
CY2020Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
364000 USD
CY2021Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
121125000 USD
CY2020Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
105411000 USD
CY2021Q3 us-gaap Long Term Debt
LongTermDebt
121504000 USD
CY2020Q4 us-gaap Long Term Debt
LongTermDebt
105775000 USD
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
438000 USD
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
1750000 USD
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
1750000 USD
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
118965000 USD
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
0 USD
CY2021Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
122903000 USD
CY2021Q3 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
300000 USD
CY2020Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
21300000 USD
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
34700000 USD
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
69000000 USD
lbrt Contract With Customer Customer Payment Terms
ContractWithCustomerCustomerPaymentTerms
P45D
CY2021Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
900000 USD
CY2020Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
4900000 USD
CY2020Q4 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
773000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
745000 USD
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
634000 USD
CY2021Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
884000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
15100000 USD
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4500000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
12900000 USD
CY2021Q3 lbrt Purchase Obligation To Be Paid After Year Four
PurchaseObligationToBePaidAfterYearFour
0 USD
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-38890000 USD
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-34502000 USD
us-gaap Net Income Loss
NetIncomeLoss
-123655000 USD
us-gaap Net Income Loss
NetIncomeLoss
-78553000 USD
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
178311000 shares
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
84937000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
171402000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
83299000 shares
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.22
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.41
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.72
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.94
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-38890000 USD
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-34502000 USD
us-gaap Net Income Loss
NetIncomeLoss
-123655000 USD
us-gaap Net Income Loss
NetIncomeLoss
-78553000 USD
CY2021Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2021Q3 us-gaap Dilutive Securities
DilutiveSecurities
0 USD
CY2020Q3 us-gaap Dilutive Securities
DilutiveSecurities
0 USD
us-gaap Dilutive Securities
DilutiveSecurities
0 USD
us-gaap Dilutive Securities
DilutiveSecurities
0 USD
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-38890000 USD
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-34502000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-123655000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-78553000 USD
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
178311000 shares
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
84937000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
171402000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
83299000 shares
CY2021Q3 lbrt Incremental Common Shares Attributable To Dilutive Effect Of Restricted Stock Units
IncrementalCommonSharesAttributableToDilutiveEffectOfRestrictedStockUnits
0 shares
CY2020Q3 lbrt Incremental Common Shares Attributable To Dilutive Effect Of Restricted Stock Units
IncrementalCommonSharesAttributableToDilutiveEffectOfRestrictedStockUnits
0 shares
lbrt Incremental Common Shares Attributable To Dilutive Effect Of Restricted Stock Units
IncrementalCommonSharesAttributableToDilutiveEffectOfRestrictedStockUnits
0 shares
lbrt Incremental Common Shares Attributable To Dilutive Effect Of Restricted Stock Units
IncrementalCommonSharesAttributableToDilutiveEffectOfRestrictedStockUnits
0 shares
CY2020Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
178311000 shares
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
84937000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
171402000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
83299000 shares
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.22
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.41
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.72
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.94
us-gaap Effective Income Tax Rate Reconciliation Deductions
EffectiveIncomeTaxRateReconciliationDeductions
0.078
us-gaap Effective Income Tax Rate Reconciliation Deductions
EffectiveIncomeTaxRateReconciliationDeductions
-0.158
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
800000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
9400000 USD
CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-10000000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-21100000 USD
CY2020Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
5400000 USD
CY2018Q1 lbrt Tax Receivable Agreement Number Of Agreements
TaxReceivableAgreementNumberOfAgreements
2 agreement
us-gaap Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
0.06
us-gaap Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
0.06
CY2020Q4 lbrt Accrued Income Taxes Related Parties Noncurrent
AccruedIncomeTaxesRelatedPartiesNoncurrent
27200000 USD
CY2021Q3 us-gaap Purchase Obligation Future Minimum Payments Remainder Of Fiscal Year
PurchaseObligationFutureMinimumPaymentsRemainderOfFiscalYear
16430000 USD
CY2021Q3 us-gaap Purchase Obligation Due In Next Twelve Months
PurchaseObligationDueInNextTwelveMonths
16678000 USD
CY2021Q3 us-gaap Purchase Obligation Due In Second Year
PurchaseObligationDueInSecondYear
662000 USD
CY2021Q3 us-gaap Purchase Obligation Due In Third Year
PurchaseObligationDueInThirdYear
0 USD
CY2021Q3 us-gaap Purchase Obligation Due In Fourth Year
PurchaseObligationDueInFourthYear
0 USD
CY2021Q3 us-gaap Purchase Obligation
PurchaseObligation
33770000 USD

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