Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

v3.22.4
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2022
Accounting Policies [Abstract]  
Schedule of Allowance for Doubtful Accounts Receivable Following is a roll forward of the allowance for doubtful accounts for the years ended December 31, 2022, 2021 and 2020 (in thousands):
Balance, January 1, 2020 $ 5,154 
Additions charged to bad debt expense 22,705 
Additions charged to other selling, general and administrative expense 3,950 
Additions charged to other, net - related parties 1,427 
Recoveries of receivables previously charged to bad debt expense (747)
Deductions for uncollectible receivables written off (2,350)
Balance, December 31, 2020 30,139 
Additions charged to bad debt expense 41,873 
Additions charged to revenue 27,071 
Additions charged to other selling, general and administrative expense 273 
Additions charged to other, net - related parties 515 
Additions charged to other income (expense), net 1,474 
Recoveries of receivables previously charged to bad debt expense (211)
Deductions for uncollectible receivables written off (83,049)
Balance, December 31, 2021 18,085 
Additions charged to bad debt expense 3,550 
Recoveries of receivables previously charged to bad debt expense (161)
Deductions for uncollectible receivables written off (17,887)
Balance, December 31, 2022 $ 3,587 
Following is a roll forward of the allowance for doubtful accounts specifically related to Gulfport (in thousands):
Balance, January 1, 2021 22,581 
Additions charged to bad debt expense 41,196 
Additions charged to revenue 27,070 
Additions charged to other income (expense), net - related parties 1,842 
Deductions for uncollectible receivables written off (80,975)
Balance, December 31, 2021 11,714 
Recoveries of receivables previously charged to bad debt expense (147)
Deductions for uncollectible receivables written off (11,567)
Balance, December 31, 2022 $ — 
Schedule of Asset Retirement Obligations Following is a roll forward of the Company’s asset retirement obligations for the years ended December 31, 2022 and 2021 (in thousands):
December 31,
2022 2021
Balance as of beginning of period $ 3,720  $ 4,746 
Additions and revisions of prior estimates 176  (385)
Accretion expense 136  146 
Liabilities settled —  (782)
Foreign currency translation adjustment (51) (5)
Asset retirement obligation as of end of period $ 3,981  $ 3,720 
Schedules of Significant Customers Following is a summary of our significant customers based on accounts receivable balances at December 31, 2022 and 2021 and revenues derived for the years ended December 31, 2022, 2021 and 2020:
REVENUES ACCOUNTS RECEIVABLE
Years Ended December 31, At December 31,
2022 2021 2020 2022 2021
Customer A(a)
10  % 6  % —  % —  % —  %
Customer B(b)
—  % —  % —  % 83  % 83  %
Customer C(c)
—  % 7  % 16  % —  % —  %
Customer D(d)
—  % 3  % 15  % —  % —  %
a.Customer A is a third-party customer. Revenues and the related accounts receivable balances earned from Customer A were derived from the Company’s well completion services segment.
b.Customer B is a third-party customer. Revenues and the related accounts receivable balances earned from Customer B were derived from the Company’s infrastructure services segment. Accounts receivable for Customer B also includes receivables due for interest charged on delinquent accounts receivable.
c.Customer C was a related-party customer until June 29, 2021. Revenues earned from this customer prior to June 29, 2021 are included in services revenue - related parties and product revenue - related parties on the consolidated statements of comprehensive loss. The related accounts receivable are included in accounts receivable, net on the consolidated balance sheet at December 31, 2021. Revenues and the related accounts receivable balances earned from Customer C were derived from the Company’s well completion services segment, natural sand proppant services segment and other businesses. Accounts receivable for Customer C also included receivables due for interest charged on delinquent accounts receivable.
d.Customer D is a third-party customer. Revenues and the related accounts receivable balances earned from Customer D were derived from the Company’s infrastructure services segment.