Mammoth Energy Services, Inc. Annual report pursuant to Section 13 and 15(d)

Reporting Segments and Geographic Areas (Tables)

12 Months Ended

Dec. 31, 2023

The following tables set forth certain financial information with respect to the Company’s reportable segments (in thousands):


Year Ended December 31, 2023	Well Completion		Infrastructure		Sand		Drilling		All Other		Eliminations		Total
Revenue from external customers	$	130,771	$	110,537	$	39,106	$	7,126	$	21,952	$	—	$	309,492
Intersegment revenues	517		—		25		—		2,102		(2,644)		—
Total revenue	131,288		110,537		39,131		7,126		24,054		(2,644)		309,492
Cost of revenue, exclusive of depreciation, depletion, amortization and accretion	107,405		90,478		26,324		7,095		16,538		—		247,840
Intersegment cost of revenues	1,246		149		—		26		1,223		(2,644)		—
Total cost of revenue	108,651		90,627		26,324		7,121		17,761		(2,644)		247,840
Selling, general and administrative	7,212		22,078		3,655		746		3,767		—		37,458
Depreciation, depletion, amortization and accretion	16,794		8,390		7,737		4,514		7,675		—		45,110
Gains on disposal of assets, net	(2,091)		(510)		(13)		(1,577)		(1,850)		—		(6,041)
Impairment of goodwill	—		—		—		—		1,810		—		1,810

Operating income (loss)	722		(10,048)		1,428		(3,678)		(5,109)		—		(16,685)
Interest expense and financing charges, net	4,502		9,753		540		489		912		—		16,196
Other expense (income), net	2		(39,252)		(18)		(33)		(2,714)		—		(42,015)
(Loss) income before income taxes	$	(3,782)	$	19,451	$	906	$	(4,134)	$	(3,307)	$	—	$	9,134
Total expenditures for property, plant and equipment	$	17,931	$	716	$	223	$	110	$	312	$	103	$	19,395
As of December 31, 2023:
Intangible assets, net	$	619	$	105	$	—	$	—	$	189	$	—	$	913
Total assets	$	50,965	$	462,429	$	121,162	$	13,492	$	69,005	$	(18,574)	$	698,479


Year Ended December 31, 2022	Well Completion		Infrastructure		Sand		Drilling		All Other		Eliminations		Total
Revenue from external customers	$	169,872	$	111,452	$	48,916	$	8,380	$	23,466	$	—	$	362,086
Intersegment revenue	791		—		2,475		—		1,708		(4,974)		—
Total revenue	170,663		111,452		51,391		8,380		25,174		(4,974)		362,086
Cost of revenue, exclusive of depreciation, depletion, amortization and accretion	124,848		91,577		36,783		7,514		17,865		—		278,587
Intersegment cost of revenues	3,894		72		—		85		923		(4,974)		—
Total cost of revenue	128,742		91,649		36,783		7,599		18,788		(4,974)		278,587
Selling, general and administrative	8,642		19,147		7,171		606		3,988		—		39,554
Depreciation, depletion, amortization and accretion	22,103		16,171		8,732		5,811		11,454		—		64,271
Gains on disposal of assets, net	(615)		(795)		(89)		—		(2,409)		—		(3,908)


Operating income (loss)	11,791		(14,720)		(1,206)		(5,636)		(6,647)		—		(16,418)
Interest expense and financing charges, net	1,940		7,390		753		435		988		—		11,506
Other income, net	(343)		(40,470)		(14)		—		(85)		—		(40,912)
Income (loss) before income taxes	$	10,194	$	18,360	$	(1,945)	$	(6,071)	$	(7,550)	$	—	$	12,988
Total expenditures for property, plant and equipment	$	11,421	$	885	$	88	$	95	$	401	$	(153)	$	12,737
As of December 31, 2022:
Intangible assets, net	$	1,307	$	135	$	—	$	—	$	340	$	—	$	1,782
Total assets	$	82,897	$	450,841	$	129,467	$	20,276	$	115,980	$	(74,783)	$	724,678


Year Ended December 31, 2021	Well Completion		Infrastructure		Sand		Drilling		All Other		Eliminations		Total
Revenue from external customers	$	84,190	$	93,403	$	30,880	$	3,117	$	17,372	$	—	$	228,962
Intersegment revenues	144		—		3,980		5		2,694		(6,823)		—
Total revenue	84,334		93,403		34,860		3,122		20,066		(6,823)		228,962
Cost of revenue, exclusive of depreciation, depletion, amortization and accretion	58,782		90,363		27,232		4,258		17,691		—		198,326
Intersegment cost of revenues	5,770		196		—		403		454		(6,823)		—
Total cost of revenue	64,552		90,559		27,232		4,661		18,145		(6,823)		198,326
Selling, general and administrative	49,275		18,267		5,351		803		4,550		—		78,246
Depreciation, depletion, amortization and accretion	26,377		21,880		9,005		6,784		14,429		—		78,475
Gains on disposal of assets, net	(770)		(286)		(30)		(205)		(3,856)		—		(5,147)
Impairment of goodwill	—		891		—		—		—		—		891
Impairment of other long-lived assets	—		665		—		—		547		—		1,212
Operating loss	(55,100)		(38,573)		(6,698)		(8,921)		(13,749)		—		(123,041)
Interest expense and financing charges, net	1,107		3,925		474		237		663		—		6,406
Other expense (income), net	1,843		(6,499)		(844)		25		321		—		(5,154)
Loss before income taxes	$	(58,050)	$	(35,999)	$	(6,328)	$	(9,183)	$	(14,733)	$	—	$	(124,293)
Total expenditures for property, plant and equipment	$	4,327	$	627	$	484	$	23	$	382	$	—	5,843
As of December 31, 2021:
Intangible assets, net	$	1,995	$	165	$	—	$	—	$	401	$	—	$	2,561
Total assets	$	56,036	$	427,626	$	156,519	$	25,188	$	126,482	$	(70,959)	$	720,892

The following table presents consolidated revenues by country based on sales destination of the products or services (in thousands):

The following table presents long-lived assets, excluding deferred income tax assets, by country (in thousands):