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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenue:        
Revenue $ 941,370 $ 581,288 $ 1,711,851 $ 1,132,140
Revenue—related parties 1,249 0 23,538 1,180
Total revenue 942,619 581,288 1,735,389 1,133,320
Operating costs and expenses:        
Cost of services (exclusive of depreciation, depletion, and amortization shown separately below) 713,718 521,956 1,383,737 1,020,891
General and administrative 42,162 29,403 80,480 55,762
Transaction, severance, and other costs 2,192 2,996 3,526 10,617
Depreciation, depletion, and amortization 77,379 63,214 151,967 125,270
(Gain) loss on disposal of assets (3,436) (277) 1,236 (997)
Total operating costs and expenses 832,015 617,292 1,620,946 1,211,543
Operating income (loss) 110,604 (36,004) 114,443 (78,223)
Other expense:        
Loss on remeasurement of liability under tax receivable agreements 168 (3,305) 4,333 (3,305)
Interest expense, net 4,862 3,767 9,186 7,521
Total other expense 5,030 462 13,519 4,216
Net income (loss) before income taxes 105,574 (36,466) 100,924 (82,439)
Income tax expense 235 16,006 1,065 8,649
Net income (loss) 105,339 (52,472) 99,859 (91,088)
Less: Net income (loss) attributable to non-controlling interests 183 (1,912) 79 (6,323)
Net income (loss) attributable to Liberty Energy Inc. stockholders $ 105,156 $ (50,560) $ 99,780 $ (84,765)
Net income (loss) attributable to Liberty Energy Inc. stockholders per common share:        
Basic (in dollars per share) $ 0.56 $ (0.29) $ 0.54 $ (0.50)
Diluted (in dollars per share) $ 0.55 $ (0.29) $ 0.52 $ (0.50)
Weighted average common shares outstanding:        
Basic (in shares) 186,719 172,523 185,367 167,891
Diluted (in shares) 190,441 172,523 190,623 167,891