Solaris Energy Infrastructure (SEI) 10-Q9 Aug 242024 Q2 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2024	Jul. 31, 2024
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	001-38090
Entity Registrant Name	SOLARIS OILFIELD INFRASTRUCTURE, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	81-5223109
Entity Address, Address Line One	9651 Katy Freeway, Suite 300
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77024
City Area Code	281
Local Phone Number	501-3070
Title of 12(b) Security	Class A Common Stock, $0.01 par value
Trading Symbol	SOI
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001697500
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false
Class A Common Stock
Document and Entity Information
Entity Common Stock, Shares Outstanding		30,330,894
Class B Common Stock
Document and Entity Information
Entity Common Stock, Shares Outstanding		13,671,971

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 5,059	$ 5,833
Prepaid expenses and other current assets	6,544	4,342
Inventories	8,858	6,672
Assets held for sale		3,000
Total current assets	74,747	67,141
Property, plant and equipment, net	312,077	325,121
Non-current inventories	1,186	1,593
Non-current receivables, net of allowances of $692 and $862, respectively	1,069	1,663
Operating lease right-of-use assets	10,061	10,721
Goodwill	13,004	13,004
Intangible assets, net	339	702
Deferred tax assets	44,789	48,010
Other assets	492	342
Total assets	457,764	468,297
Current liabilities:
Accounts payable	15,845	12,654
Accrued liabilities	18,307	20,292
Current portion of payables related to Tax Receivable Agreement	2,684
Current portion of credit agreement	16,000
Current portion of operating lease liabilities	1,378	1,385
Current portion of finance lease liabilities	2,507	2,462
Other current liabilities	2,976	408
Total current liabilities	59,697	37,201
Operating lease liabilities, net of current	10,782	11,541
Credit agreement, net of current		30,000
Finance lease liabilities, net of current	1,212	2,401
Payables related to Tax Receivable Agreement, net of current	68,846	71,530
Other long-term liabilities	44	44
Total liabilities	140,581	152,717
Commitments and contingencies (Note 10)
Stockholders' equity:
Preferred stock, $0.01 par value, 50,000 shares authorized, none issued and outstanding
Additional paid-in capital	184,626	188,379
Retained earnings	19,692	17,314
Total stockholders' equity attributable to Solaris Oilfield Infrastructure, Inc.	204,601	205,983
Non-controlling interest	112,582	109,597
Total stockholders' equity	317,183	315,580
Total liabilities and stockholders' equity	457,764	468,297
Nonrelated Party
Current assets:
Accounts receivable	49,864	44,916
Related Party
Current assets:
Accounts receivable	4,422	2,378
Class A Common Stock
Stockholders' equity:
Common Stock	283	290
Class B Common Stock
Stockholders' equity:
Common Stock

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) shares in Thousands, $ in Thousands	Jun. 30, 2024 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares
Allowance for credit losses, current \| $	$ 401	$ 104
Allowance for credit losses, noncurrent \| $	$ 692	$ 862
Preferred stock, par value (in dollars per share) \| $ / shares	$ 0.01	$ 0.01
Preferred stock, shares authorized	50,000	50,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Class A Common Stock
Common stock, par value (in dollars per share) \| $ / shares	$ 0.01	$ 0.01
Common stock, shares authorized	600,000	600,000
Common stock, shares issued	30,338	30,448
Common stock, shares outstanding	30,338	30,448
Class B Common Stock
Common stock, par value (in dollars per share) \| $ / shares	$ 0	$ 0
Common stock, shares authorized	180,000	180,000
Common stock, shares issued	13,674	13,674
Common stock, shares outstanding	13,674	13,674
Common stock, conversion ratio	1	1

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue:
Revenue	$ 73,886	$ 77,202	$ 141,776	$ 159,924
Operating costs and expenses:
Cost of services (exclusive of depreciation and amortization)	46,131	45,652	86,018	98,875
Depreciation and amortization	9,565	9,071	19,499	17,488
Gain on reversal of property tax contingency	(2,483)		(2,483)
Selling, general and administrative	8,259	6,825	16,249	13,363
Other operating expense (income), net	560	(125)	683	(463)
Total operating costs and expenses	62,032	61,423	119,966	129,263
Operating income	11,854	15,779	21,810	30,661
Interest expense, net	(685)	(879)	(1,484)	(1,338)
Income before income tax expense	11,169	14,900	20,326	29,323
Provision for income taxes	(1,345)	(2,659)	(3,202)	(5,145)
Net income	9,824	12,241	17,124	24,178
Less: net income related to non-controlling interests	(3,616)	(4,709)	(6,599)	(9,077)
Net income attributable to Solaris Oilfield Infrastructure, Inc.	6,208	7,532	10,525	15,101
Less: income attributable to participating securities	(410)	(383)	(676)	(700)
Nonrelated Party
Revenue:
Revenue	69,640	69,925	134,275	147,753
Related Party
Revenue:
Revenue	4,246	7,277	7,501	12,171
Class A Common Stock
Operating costs and expenses:
Net income attributable to Class A common shareholders	$ 5,798	$ 7,149	$ 9,849	$ 14,401
Earnings per share of Class A common stock - basic (in dollars per share)	$ 0.20	$ 0.24	$ 0.35	$ 0.47
Earnings per share of Class A common stock - diluted (in dollars per share)	$ 0.20	$ 0.24	$ 0.35	$ 0.47
Basic weighted-average shares of Class A common stock outstanding (in shares)	28,335,491	29,541,772	28,461,172	30,373,401
Diluted weighted-average shares of Class A common stock outstanding (in shares)	28,335,491	29,541,772	28,461,172	30,373,401

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Common Stock Class A Common Stock	Common Stock Class B Common Stock	Additional Paid-in Capital	Retained Earnings	Non-controlling Interest	Total
Balance at beginning of period at Dec. 31, 2022	$ 317		$ 202,551	$ 12,847	$ 101,414	$ 317,129
Balance at beginning of period (in shares) at Dec. 31, 2022	32,937	13,674
Changes in Stockholders' Equity
Share repurchases and retirements	$ (17)		(10,543)	(3,295)	(572)	(14,427)
Share repurchases and retirements (in shares)	(1,641)
Net effect of deferred tax asset and payables related to the vesting of restricted stock			594			594
Stock-based compensation			1,494		660	2,154
Grants of restricted stock, net of forfeitures (in shares)	781
Vesting of restricted stock	$ 5		903		(908)
Cancelled shares withheld for taxes from vesting of restricted stock	$ (1)		(536)	(384)	(415)	(1,336)
Cancelled shares withheld for taxes from vesting of restricted stock (in shares)	(148)
Distributions to non-controlling interest unitholders					(1,985)	(1,985)
Dividends paid (Class A common stock)				(3,656)		(3,656)
Net income				7,569	4,368	11,937
Balance at end of period at Mar. 31, 2023	$ 304		194,463	13,081	102,562	310,410
Balance at end of period (in shares) at Mar. 31, 2023	31,929	13,674
Balance at beginning of period at Dec. 31, 2022	$ 317		202,551	12,847	101,414	317,129
Balance at beginning of period (in shares) at Dec. 31, 2022	32,937	13,674
Changes in Stockholders' Equity
Net income						24,178
Balance at end of period at Jun. 30, 2023	$ 290		186,647	15,233	106,286	308,456
Balance at end of period (in shares) at Jun. 30, 2023	30,477	13,674
Balance at beginning of period at Mar. 31, 2023	$ 304		194,463	13,081	102,562	310,410
Balance at beginning of period (in shares) at Mar. 31, 2023	31,929	13,674
Changes in Stockholders' Equity
Share repurchases and retirements	$ (14)		(9,222)	(1,990)	(104)	(11,330)
Share repurchases and retirements (in shares)	(1,438)
Stock-based compensation			1,399		647	2,046
Grants of restricted stock, net of forfeitures (in shares)	(11)
Vesting of restricted stock	$ 1		16		(17)
Cancelled shares withheld for taxes from vesting of restricted stock	$ (1)		(9)	(2)	(7)	(19)
Cancelled shares withheld for taxes from vesting of restricted stock (in shares)	(3)
Distributions to non-controlling interest unitholders					(1,504)	(1,504)
Dividends paid (Class A common stock)				(3,388)		(3,388)
Net income				7,532	4,709	12,241
Balance at end of period at Jun. 30, 2023	$ 290		186,647	15,233	106,286	308,456
Balance at end of period (in shares) at Jun. 30, 2023	30,477	13,674
Balance at beginning of period at Dec. 31, 2023	$ 290		188,379	17,314	109,597	315,580
Balance at beginning of period (in shares) at Dec. 31, 2023	30,448	13,674
Changes in Stockholders' Equity
Share repurchases and retirements	$ (11)		(7,031)	(858)	(233)	(8,133)
Share repurchases and retirements (in shares)	(1,108)
Net effect of deferred tax asset and payables related to the vesting of restricted stock			(422)			(422)
Stock-based compensation			1,581		770	2,351
Grants of restricted stock, net of forfeitures (in shares)	1,175
Vesting of restricted stock	$ 6		1,686		(1,692)
Vesting of performance-based restricted stock units			45		(45)
Vesting of performance-based restricted stock units (in shares)	17
Cancelled shares withheld for taxes from vesting of restricted stock	$ (2)		(1,515)		(22)	(1,539)
Cancelled shares withheld for taxes from vesting of restricted stock (in shares)	(182)
Distributions to non-controlling interest unitholders					(1,641)	(1,641)
Dividends paid (Class A common stock)				(3,648)		(3,648)
Net income				4,317	2,983	7,300
Balance at end of period at Mar. 31, 2024	$ 283		182,723	17,125	109,717	309,848
Balance at end of period (in shares) at Mar. 31, 2024	30,350	13,674
Balance at beginning of period at Dec. 31, 2023	$ 290		188,379	17,314	109,597	315,580
Balance at beginning of period (in shares) at Dec. 31, 2023	30,448	13,674
Changes in Stockholders' Equity
Net income						17,124
Balance at end of period at Jun. 30, 2024	$ 283		184,626	19,692	112,582	317,183
Balance at end of period (in shares) at Jun. 30, 2024	30,338	13,674
Balance at beginning of period at Mar. 31, 2024	$ 283		182,723	17,125	109,717	309,848
Balance at beginning of period (in shares) at Mar. 31, 2024	30,350	13,674
Changes in Stockholders' Equity
Stock-based compensation			1,905		919	2,824
Grants of restricted stock, net of forfeitures (in shares)	(8)
Vesting of restricted stock			29		(29)
Cancelled shares withheld for taxes from vesting of restricted stock			(31)			(31)
Cancelled shares withheld for taxes from vesting of restricted stock (in shares)	(4)
Distributions to non-controlling interest unitholders					(1,641)	(1,641)
Dividends paid (Class A common stock)				(3,641)		(3,641)
Net income				6,208	3,616	9,824
Balance at end of period at Jun. 30, 2024	$ 283		$ 184,626	$ 19,692	$ 112,582	$ 317,183
Balance at end of period (in shares) at Jun. 30, 2024	30,338	13,674

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY
Cash dividends paid (in dollars per share)	$ 0.12	$ 0.12	$ 0.11	$ 0.11

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net income	$ 17,124	$ 24,178
Adjustment to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	19,499	17,488
Loss (gain) on disposal of assets	44	(18)
Stock-based compensation	4,876	3,904
Amortization of debt issuance costs	87	71
Allowance for credit losses	126	(2)
Inventory write-off	325
Deferred income tax expense	2,908	4,853
Other	(100)	(162)
Changes in operating assets and liabilities:
Accounts receivable	(4,480)	8,442
Accounts receivable - related party	(2,044)	(1,863)
Prepaid expenses and other current assets	(2,439)	(520)
Inventories	(2,104)	(5,801)
Accounts payable	3,303	3,047
Accrued liabilities	1,109	(8,728)
Property tax contingency	(2,483)
Payments pursuant to Tax Receivable Agreement		(1,092)
Net cash provided by operating activities	35,751	43,797
Cash flows from investing activities:
Investment in property, plant and equipment	(4,021)	(40,130)
Cash received from insurance claims	326	69
Proceeds from disposal of property, plant and equipment	55	165
Net cash used in investing activities	(3,640)	(39,896)
Cash flows from financing activities:
Share repurchases and retirements	(8,092)	(25,757)
Distributions to non-controlling interest unitholders	(3,282)	(3,489)
Dividends paid to Class A common stock shareholders	(7,289)	(7,044)
Payments under finance leases	(1,214)	(1,326)
Proceeds from issuance of insurance notes payable	3,553	1,520
Payments under insurance premium financing	(991)	(823)
Payments related to debt issuance costs		(91)
Cancelled shares withheld for taxes from vesting of restricted stock	(1,570)	(1,355)
Borrowings under the credit agreement	4,000	35,000
Repayments of credit agreement	(18,000)
Net cash used in financing activities	(32,885)	(3,365)
Net (decrease) increase in cash and cash equivalents	(774)	536
Cash and cash equivalents at beginning of period	5,833	8,835
Cash and cash equivalents at end of period	5,059	9,371
Non-cash investing and financing activities:
Capitalized depreciation in property, plant and equipment	232	202
Capitalized stock-based compensation	300	296
Property, plant and equipment additions incurred but not paid at period-end	412	3,402
Reclassification of assets held for sale to property, plant and equipment	3,000
Additions to property, plant and equipment through finance leases	70	1,926
Cash paid for:
Interest	1,414	1,028
Income taxes	$ 520	$ 198

Description of Business

Description of Business	6 Months Ended
Description of Business	Jun. 30, 2024
Description of Business
Description of Business	1. Description of Business We design and manufacture specialized equipment, which combined with field technician support, last mile and mobilization logistics services and our software solutions, enables us to provide a service offering that helps oil and natural gas operators and their suppliers drive efficiencies that reduce operational footprint and costs during the completion phase of well development. We service most active oil and natural gas basins in the United States.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
Summary of Significant Accounting Policies	Jun. 30, 2024
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation and Consolidation Solaris Oilfield Infrastructure, Inc. (either individually or together with its subsidiaries, as the context requires, “Solaris Inc.” or the “Company”) is the managing member of Solaris Oilfield Infrastructure, LLC (“Solaris LLC”) and is responsible for all operational, management and administrative decisions relating to Solaris LLC’s business. Solaris Inc. consolidates the financial results of Solaris LLC and its subsidiaries and reports a non-controlling interest related to the portion of the units in Solaris LLC (the “Solaris LLC Units”) not owned by Solaris Inc., which will reduce net income attributable to the holders of Solaris Inc.’s Class A common stock. The accompanying interim unaudited condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and pursuant to the rules and regulations of the United States Securities and Exchange Commission (“SEC”). These financial statements reflect all normal recurring adjustments that are necessary for fair presentation. Operating results for the three and six months ended June 30, 2024 and 2023 are not necessarily indicative of the results that may be expected for the full year or for any interim period. The unaudited interim condensed consolidated financial statements do not include all information or notes required by GAAP for annual financial statements and should be read together with Solaris Inc.’s Annual Report on Form 10-K for the year ended December 31, 2023 and notes thereto. All material intercompany transactions and balances have been eliminated upon consolidation. Reclassifications Our current period presentation of outstanding shares of Class A common stock includes our unvested restricted stock grants. As a result, our prior period presentation was made to conform to current period presentation and had no effect on previously reported basic and diluted earnings per share. In addition, certain reclassifications of prior period balances have been made to conform to the current period presentation. Allowance for Credit Losses written off against the allowance for credit losses when our customers’ financial condition deteriorates, impairing their ability to make payments, including in cases of customer bankruptcies. The following activity related to our allowance for credit losses on customer receivables Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Balance at beginning of period $ 1.3 $ 0.4 $ 1.0 $ 0.4 Provision for credit losses, net of recoveries (0.2) — 0.1 — Write-offs — — — — Balance at end of period $ 1.1 $ 0.4 $ 1.1 $ 0.4 Revenue Recognition The Company recognizes revenue in accordance with Accounting Standards Codification (“ASC”) Topic 606, “Revenues from Contracts with Customers”. We recognize revenue based on the transfer of control, or the customer’s ability to benefit from our services and products, in an amount that reflects the consideration expected to be received in exchange for those services and products. We assess our customers’ ability and intention to pay, which is based on a variety of factors, including historical payment experience and financial condition, and we typically charge our customers on a weekly or monthly basis. Contracts with customers are normally on thirty- to sixty-day payment terms. Our contracts may contain bundled pricing covering multiple performance obligations, such as contracts containing a combination of systems, mobilization services and / or sand transportation coordination services. In these instances, we allocate the transaction price to each performance obligation identified in the contract based on relative stand-alone selling prices, or estimates of such prices, and recognize the related revenue as control of each individual product or service is transferred to the customer, in satisfaction of the corresponding performance obligations. Variable consideration typically may relate to discounts, price concessions and incentives. The Company estimates variable consideration based on the amount of consideration we expect to receive. The Company accrues revenue on an ongoing basis to reflect updated information for variable consideration as performance obligations are met. Disaggregation of Revenue The following table summarizes revenues from our contracts disaggregated by revenue generating activity contained therein for the three and six months ended June 30, 2024 and 2023: Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Wellsite services $ 73.7 $ 77.1 $ 141.4 $ 159.6 Transloading and Other 0.2 0.1 0.4 0.3 Total revenue $ 73.9 $ 77.2 $ 141.8 $ 159.9 Fair Value Measurements The Company’s financial assets and liabilities, as well as certain nonrecurring fair value measurements such as goodwill impairment and long-lived assets impairment, are to be measured using inputs from the three levels of the fair value hierarchy, of which the first two are considered observable and the last unobservable, which are as follows: ● Level 1 – Inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date; ● Level 2 – Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active or other inputs corroborated by observable market data for substantially the full term of assets or liabilities; and ● Level 3 – Unobservable inputs that reflect the Company’s assumptions that the market participants would use in pricing assets or liabilities based on the best information available. The carrying value of the Company’s financial instruments, consisting of cash and cash equivalents, accounts receivable, accounts payable, accrued liabilities and other current liabilities including insurance premium financing, approximate their fair value due to their short-term nature. The carrying amounts of the Company’s borrowings under the credit agreement approximate fair value based on their nature, terms, and variable interest rates.

Property, Plant and Equipment

Property, Plant and Equipment	6 Months Ended
Property, Plant and Equipment	Jun. 30, 2024
Property, Plant and Equipment
Property, Plant and Equipment	Property, plant and equipment consists of the following: June 30, December 31, 2024 2023 Systems and related equipment $ 444.0 $ 434.4 Systems in process 17.3 21.1 Vehicles 13.4 13.5 Machinery and equipment 5.8 5.8 Buildings 4.9 4.9 Computer hardware and software 3.9 3.9 Land 0.6 0.6 Furniture and fixtures 1.3 1.3 Property, plant and equipment, gross $ 491.2 $ 485.5 Less: accumulated depreciation (179.1) (160.4) Property, plant and equipment, net $ 312.1 $ 325.1 During the three months ended June 30, 2024 and 2023, we recorded depreciation expense of $9.4 million and $8.9 million, respectively. During the six months ended June 30, 2024 and 2023, we recorded depreciation expense of $19.1 million and $17.1 million, respectively. During the six months ended June 30, 2024, we reclassified $3.0 million of systems and related equipment from assets held for sale to property, plant and equipment as these assets no longer met the criteria for being classified as held for sale.

Accrued Liabilities

Accrued Liabilities	6 Months Ended
Accrued Liabilities	Jun. 30, 2024
Accrued Liabilities
Accrued Liabilities	4. Accrued Liabilities Accrued liabilities consist of the following: June 30, December 31, 2024 2023 Property, plant and equipment $ — $ 0.8 Employee-related expenses 5.8 7.6 Selling, general and administrative 1.9 1.3 Cost of services 7.8 3.5 Excise, franchise and sales taxes 1.2 1.5 Ad valorem taxes 1.6 5.6 Accrued liabilities $ 18.3 $ 20.3

Senior Secured Credit Facility

Senior Secured Credit Facility	6 Months Ended
Senior Secured Credit Facility	Jun. 30, 2024
Senior Secured Credit Facility
Senior Secured Credit Facility	5. Senior Secured Credit Facility Our senior secured credit facility matures on April 25, 2025. As of June 30, 2024, the outstanding balance of $16.0 million is classified under current liabilities as the “current portion of credit agreement”. As of June 30, 2024, we were in compliance with all covenants of our senior secured credit facility and had the capacity to draw an additional $47.8 million. In July 2024, we borrowed a total of $33.0 million, reducing the availability under the facility to $14.8 million. Of the $33.0 million borrowed, $29.8 million was loaned to Mobile Energy Rental LLC (“MER”) in connection with a certain financing agreement with MER. Refer to Note 12. “Subsequent Events” for additional information.

Other Current Liabilities

Other Current Liabilities	6 Months Ended
Other Current Liabilities	Jun. 30, 2024
Other Current Liabilities
Other Current Liabilities	6. Other Current Liabilities In the second quarter of 2024, we entered into insurance premium financing agreements with an aggregate financed amount of $3.6 million. The notes carry an annual interest rate of 8.1% and include payments of approximately $0.3 million due monthly from May 2024 to April 2025. The remaining principal outstanding on these loans as of June 30, 2024 was $3.0 million. In the second quarter of 2023, we entered into insurance premium financing agreements with a financed amount of $1.5 million. The note carried an annual interest rate of 8.0% and included payments of approximately $0.1 million due monthly from June 2023 to April 2024. The remaining principal outstanding on these loans as of December 31, 2023 was $0.4 million.

Equity

Equity	6 Months Ended
Equity	Jun. 30, 2024
Equity
Equity	Dividends Solaris LLC paid dividend distributions totaling $5.3 million and $4.9 million to all Solaris LLC unitholders in the three months ended June 30, 2024 and 2023, respectively, of which $3.6 million and $3.4 million was paid to Solaris Inc. Solaris LLC paid dividend distributions totaling $10.6 million and $10.1 million to all Solaris LLC unitholders in the six months ended June 30, 2024 and 2023, respectively, of which $7.3 million and $7.0 million was paid to Solaris Inc. Solaris Inc. used the proceeds from the distributions to pay quarterly cash dividends to all holders of shares of Class A common stock. On March 1, 2023, the Company’s board of directors authorized a share repurchase plan to repurchase up to $50.0 million of the Company’s Class A common stock until the plan terminates pursuant to its provisions. During the three months ended June 30, 2024, Solaris Inc. did not purchase and retire any shares of the Company’s Class A common stock. During the six months ended June 30, 2024, Solaris Inc. purchased and retired 1,108,349 shares of the Company’s Class A common stock at an aggregate cost of $8.1 million, or $7.30 per share, under the share repurchase program. As of June 30, 2024, we had purchased and retired 4,272,127 shares of Class A common stock for $34.6 million, or $8.09 per share, resulting in $15.4 million remaining available for future repurchases authorized under the share repurchase plan. The 1% U.S. federal excise tax on certain repurchases of stock by publicly traded U.S. corporations enacted as part of the Inflation Reduction Act of 2022 applies to our share repurchase program. As of June 30, 2024, we recorded accrued stock repurchase excise tax of $0.3 million in accrued liabilities in the condensed consolidated balance sheets. Earnings Per Share Basic earnings per share of Class A common stock is computed by dividing net income attributable to Class A common stockholders by the weighted-average number of shares of Class A common stock outstanding during the same period. Diluted earnings per share is computed giving effect to all potentially dilutive shares. The following table sets forth the calculation of earnings per share for the three and six months ended June 30, 2024 and 2023: Three Months Ended June 30, Six Months Ended June 30, Basic earnings per share: 2024 2023 2024 2023 Numerator (in millions) Net income attributable to Solaris Oilfield Infrastructure, Inc. $ 6.2 $ 7.5 $ 10.5 $ 15.1 Less: income attributable to participating securities (1) (0.4) (0.4) (0.7) (0.7) Net income attributable to Class A common stockholders $ 5.8 $ 7.1 $ 9.8 $ 14.4 Denominator Weighted average number of unrestricted outstanding Class A common stock used to calculate basic earnings per share 28,335,491 29,541,772 28,461,172 30,373,401 Diluted weighted-average shares of Class A common stock outstanding used to calculate diluted earnings per share 28,335,491 29,541,772 28,461,172 30,373,401 Earnings per share of Class A common stock - basic $ 0.20 $ 0.24 $ 0.35 $ 0.47 Earnings per share of Class A common stock - diluted $ 0.20 $ 0.24 $ 0.35 $ 0.47 (1) The Company’s unvested restricted stock awards are participating securities because they entitle the holders to non-forfeitable rights to dividends until the awards vest or are forfeited. The following number of weighted-average potentially dilutive shares were excluded from the calculation of diluted earnings per share because the effect of including such potentially dilutive shares would have been antidilutive upon conversion: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Class B common stock 13,671,971 13,671,971 13,671,971 13,671,971 Restricted stock awards 2,010,964 1,517,774 1,833,239 1,446,662 Performance-based restricted stock units 300,142 175,353 210,149 175,746 Stock options 6,605 5,500 6,605 5,467 Total 15,989,682 15,370,598 15,721,964 15,299,846

Income Taxes

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2024
Income Taxes
Income Taxes	8 Income Taxes and six months ended June 30, 2024 and 2023, our effective tax rate differed from the statutory rate primarily due to Solaris LLC’s treatment as a partnership for United States federal income tax purposes. Based on our cumulative earnings history and forecasted future sources of taxable income, we believe that we will be able to realize our deferred tax assets in the future. As the Company reassesses this position in the future, changes in cumulative earnings history, excluding non-recurring charges, or changes to forecasted taxable income may alter this expectation and may result in an increase in the valuation allowance and an increase in the effective tax rate. Section 382 of the Internal Revenue Code of 1986, contains rules that limit the ability of a company that undergoes an “ownership change” to utilize its net operating loss and tax credit carryovers and certain built-in losses recognized in years after the “ownership change.” An “ownership change” is generally defined as any change in ownership of more than 50% of a corporation’s stock over a rolling three-year period by stockholders that own (directly or indirectly) 5% or more of the stock of a corporation, or arising from a new issuance of stock by a corporation. If an ownership change occurs, Section 382 generally imposes an annual limitation on the use of pre-ownership change net operating loss carryovers to offset taxable income earned after the ownership change. We do not believe the Section 382 annual limitation related to historical ownership changes impacts our ability to utilize our net operating losses; however, if we were to experience a future ownership change our ability to use net operating losses may be impacted. Payables Related to the Tax Receivable Agreement

Concentrations

Concentrations	6 Months Ended
Concentrations	Jun. 30, 2024
Concentrations
Concentrations	9. Concentrations For the three months ended June 30, 2024, three customers accounted for 18%, 13% and 12% of the Company’s revenues. For the three months ended June 30, 2023, two customers accounted for 15% and 11% of the Company’s revenues. For the six months ended June 30, 2024, three customers accounted for 14%, 13%, and 11% of the Company’s revenues. For the six months ended June 30, 2023, three customers accounted for 13%, 11% and 11% of the Company’s revenues. As of June 30, 2024, three customers accounted for 17%, 12% and 11% of the Company’s accounts receivable. As of December 31, 2023, two customers accounted for 12% and 10% of the Company’s accounts receivable. For the three months ended June 30, 2024, one supplier accounted for 18% of the Company’s total purchases. For the three months ended June 30, 2023, one supplier accounted for 15% of the Company’s total purchases. For the six months ended June 30, 2024, one supplier accounted for 14% of the Company’s total purchases. For the six months ended June 30, 2023, no supplier accounted for more than 10% of the Company’s total purchases. As of June 30, 2024, three suppliers accounted for 18%, 11% and 10% of the Company’s accounts payable. As of December 31, 2023, two suppliers accounted for 17% and 12% of the Company’s accounts payable.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2024
Commitments and Contingencies
Commitments and Contingencies	10. Commitments and Contingencies Tax Matters We are subject to a number of state and local taxes that are not income-based. As many of these taxes are subject to assessment and audit by the taxing authorities, it is possible that an assessment or audit could result in additional taxes due. We accrue additional taxes when we determine that it is probable that we will have incurred a liability and we can reasonably estimate the amount of the liability. On June 16, 2022, Cause Number CV20-09-372, styled Solaris Oilfield Site Services v. Brown County Appraisal District, was presented to the 35th District Court of Brown County, Texas. The 35 th Litigation and Claims In the normal course of business, the Company is subjected to various claims, legal actions, contract negotiations and disputes. The Company provides for losses, if any, in the year in which they can be reasonably estimated. In management’s opinion, there are currently no such matters outstanding that would have a material effect on the accompanying condensed consolidated financial statements other than the following. On February 28, 2024, the Company was served with a lawsuit by Masaba Inc. in the Wyoming District Court related to alleged intellectual property infringement. The complaint seeks, among other relief, unspecified compensatory damages, rescission, pre-judgment and post-judgment interest, costs and expenses. The Company believes these claims are without merit and will vigorously defend against them. At this time, we are unable to predict the ultimate outcome of this case or estimate the range of possible loss, if any. Other Commitments The Company has executed a guarantee of lease agreement with Solaris Energy Management, LLC, a related party of the Company, related to the rental of office space. The total future guarantee under the guarantee of lease agreement with Solaris Energy Management, LLC is $2.6 million as of June 30, 2024. Refer to Note 11. “Related Party Transactions” below for additional information regarding related party transactions recognized.

Related Party Transactions

Related Party Transactions	6 Months Ended
Related Party Transactions	Jun. 30, 2024
Related Party Transactions
Related Party Transactions	11. Related Party Transactions The Company incurs costs for services provided by Solaris Energy Management, LLC, a company owned by William A. Zartler, the Chief Executive Officer and Chairman of the Board. 2023, Solaris LLC paid $0.1 million and $0.3 million, respectively, for these services. For the six months ended June 30, 2024 and 2023, Solaris LLC paid $0.2 million and $0.8 million, respectively, for these services. As of June 30, 2024 and December 31, 2023, the Company included $0.1 million and $0.1 million, respectively, in prepaid expenses and other current assets on the condensed consolidated balance sheets. As of June 30, 2024, THRC Holdings, LP, an entity managed by THRC Management, LLC (collectively, “THRC”), owned shares representing 10.5% of the outstanding shares of the Company’s Class A common stock. THRC is affiliated with certain of the Company’s customers, such as ProFrac Services, LLC, and with certain of the Company’s suppliers, including Automatize Logistics, LLC, IOT-EQ, LLC and Cisco Logistics, LLC (collectively, “THRC Affiliates”). For the three months ended June 30, 2024 and 2023, the Company recognized revenues of $4.2 million and $7.3 million, respectively, from services provided to THRC Affiliates. For the six months ended June 30, 2024 and 2023, the Company recognized revenues of $7.5 million and $12.2 million, respectively, from services provided to THRC Affiliates. Accounts receivable from THRC Affiliates as of June 30, 2024 and December 31, 2023 was $4.4 million and $2.4 million, respectively. For the three and six months ended June 30, 2024, the Company did not incur costs for services provided by THRC Affiliates. For the three and six months ended June 30, 2023, the Company incurred costs of $0.6 million and $1.7 million, respectively, for services provided by THRC Affiliates. There was $0.1 million in accounts payable related to THRC Affiliates as of June 30, 2024 and none as of December 31, 2023. The Company is the dedicated wellsite sand storage provider (“Services”) for certain THRC Affiliates. The Company provides volume-based pricing for the Services and may be required to pay up to $0.5 million in payments throughout a term ending in 2024, contingent upon the ability of these affiliates to meet minimum Services revenue thresholds. As of June 30, 2024, there was $0.1 million of accounts payable to THRC Affiliates related to the Services and no accounts payable as of December 31, 2023.

Subsequent Events

Subsequent Events	6 Months Ended
Subsequent Events	Jun. 30, 2024
Subsequent Events
Subsequent Events	12. Subsequent Events MER Acquisition On July 9, 2024, Solaris Inc. and Solaris LLC entered into a definitive agreement to acquire MER, a premier provider of distributed power solutions serving the energy and commercial and industrial end-markets (the “MER Acquisition”). Transaction consideration includes $60.0 million of cash, subject to certain adjustments based on the Company’s capital expenditures prior to the close of the transaction (including the obligation by the Company to assume MER’s acquisition of approximately $308.0 million of on-order turbines); and the issuance of approximately 16.5 million Solaris LLC Units and an equal number of shares of the Company’s Class B common stock to MER’s founders and management team, who will join the Company post-closing. The Company’s board of directors has approved the MER Acquisition. The proposed transaction is contingent upon shareholder approval of the issuance of shares of the Company’s Class B common stock, receipt of regulatory approvals and other customary closing conditions. The Company anticipates the transaction to close by the end of the third quarter of 2024. Senior Secured Bridge Term Loan Facility On July 9, 2024, in connection with the planned MER Acquisition, the Company secured committed financing from Banco Santander, Texas Capital Securities and Woodforest National Bank in the form of a $300.0 million senior secured bridge term loan facility with a 364-day term (the “Bridge Loan”). The Company paid $4.8 million in loan structuring and commitment fees on the same day. Funds from the Bridge Loan are undrawn and only available to the Company if we close on the loan. The Company expects to obtain alternative financing for its cash needs relating to the MER acquisition prior to closing the transaction; if this alternative financing is obtained, the Company would not close on the Bridge Loan. Secured Demand Note On July 30, 2024, Solaris LLC entered into a definitive agreement whereby Solaris LLC loaned $29.8 million (the “Loan”) to MER to fund certain progress payments to meet MER’s outstanding commitments. In connection with this financing agreement, the Company drew $30.0 million from its existing senior secured credit facility. The Loan bears interest at 10% and is fully secured by substantially all of MER’s assets. If the Loan is not called, payment would be due on December 6, 2024. Dividends On July 25, 2024, the Company’s board of directors approved a quarterly cash dividend of $0.12 per share of Class A common stock, to be paid on September 6, 2024 to holders of record as of August 23, 2024, and a distribution of $0.12 per unit to Solaris LLC unitholders, which is subject to the same payment and record dates.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 6,208	$ 7,532	$ 10,525	$ 15,101

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2024
Summary of Significant Accounting Policies
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation Solaris Oilfield Infrastructure, Inc. (either individually or together with its subsidiaries, as the context requires, “Solaris Inc.” or the “Company”) is the managing member of Solaris Oilfield Infrastructure, LLC (“Solaris LLC”) and is responsible for all operational, management and administrative decisions relating to Solaris LLC’s business. Solaris Inc. consolidates the financial results of Solaris LLC and its subsidiaries and reports a non-controlling interest related to the portion of the units in Solaris LLC (the “Solaris LLC Units”) not owned by Solaris Inc., which will reduce net income attributable to the holders of Solaris Inc.’s Class A common stock. The accompanying interim unaudited condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and pursuant to the rules and regulations of the United States Securities and Exchange Commission (“SEC”). These financial statements reflect all normal recurring adjustments that are necessary for fair presentation. Operating results for the three and six months ended June 30, 2024 and 2023 are not necessarily indicative of the results that may be expected for the full year or for any interim period. The unaudited interim condensed consolidated financial statements do not include all information or notes required by GAAP for annual financial statements and should be read together with Solaris Inc.’s Annual Report on Form 10-K for the year ended December 31, 2023 and notes thereto. All material intercompany transactions and balances have been eliminated upon consolidation.
Reclassifications	Reclassifications Our current period presentation of outstanding shares of Class A common stock includes our unvested restricted stock grants. As a result, our prior period presentation was made to conform to current period presentation and had no effect on previously reported basic and diluted earnings per share. In addition, certain reclassifications of prior period balances have been made to conform to the current period presentation.
Allowance for Credit Losses	Allowance for Credit Losses written off against the allowance for credit losses when our customers’ financial condition deteriorates, impairing their ability to make payments, including in cases of customer bankruptcies. The following activity related to our allowance for credit losses on customer receivables Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Balance at beginning of period $ 1.3 $ 0.4 $ 1.0 $ 0.4 Provision for credit losses, net of recoveries (0.2) — 0.1 — Write-offs — — — — Balance at end of period $ 1.1 $ 0.4 $ 1.1 $ 0.4
Revenue Recognition	Revenue Recognition The Company recognizes revenue in accordance with Accounting Standards Codification (“ASC”) Topic 606, “Revenues from Contracts with Customers”. We recognize revenue based on the transfer of control, or the customer’s ability to benefit from our services and products, in an amount that reflects the consideration expected to be received in exchange for those services and products. We assess our customers’ ability and intention to pay, which is based on a variety of factors, including historical payment experience and financial condition, and we typically charge our customers on a weekly or monthly basis. Contracts with customers are normally on thirty- to sixty-day payment terms. Our contracts may contain bundled pricing covering multiple performance obligations, such as contracts containing a combination of systems, mobilization services and / or sand transportation coordination services. In these instances, we allocate the transaction price to each performance obligation identified in the contract based on relative stand-alone selling prices, or estimates of such prices, and recognize the related revenue as control of each individual product or service is transferred to the customer, in satisfaction of the corresponding performance obligations. Variable consideration typically may relate to discounts, price concessions and incentives. The Company estimates variable consideration based on the amount of consideration we expect to receive. The Company accrues revenue on an ongoing basis to reflect updated information for variable consideration as performance obligations are met. Disaggregation of Revenue The following table summarizes revenues from our contracts disaggregated by revenue generating activity contained therein for the three and six months ended June 30, 2024 and 2023: Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Wellsite services $ 73.7 $ 77.1 $ 141.4 $ 159.6 Transloading and Other 0.2 0.1 0.4 0.3 Total revenue $ 73.9 $ 77.2 $ 141.8 $ 159.9
Fair Value Measurements	Fair Value Measurements The Company’s financial assets and liabilities, as well as certain nonrecurring fair value measurements such as goodwill impairment and long-lived assets impairment, are to be measured using inputs from the three levels of the fair value hierarchy, of which the first two are considered observable and the last unobservable, which are as follows: ● Level 1 – Inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date; ● Level 2 – Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active or other inputs corroborated by observable market data for substantially the full term of assets or liabilities; and ● Level 3 – Unobservable inputs that reflect the Company’s assumptions that the market participants would use in pricing assets or liabilities based on the best information available. The carrying value of the Company’s financial instruments, consisting of cash and cash equivalents, accounts receivable, accounts payable, accrued liabilities and other current liabilities including insurance premium financing, approximate their fair value due to their short-term nature. The carrying amounts of the Company’s borrowings under the credit agreement approximate fair value based on their nature, terms, and variable interest rates.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
Summary of Significant Accounting Policies (Tables)	Jun. 30, 2024
Summary of Significant Accounting Policies
Schedule of allowance for credit losses	Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Balance at beginning of period $ 1.3 $ 0.4 $ 1.0 $ 0.4 Provision for credit losses, net of recoveries (0.2) — 0.1 — Write-offs — — — — Balance at end of period $ 1.1 $ 0.4 $ 1.1 $ 0.4
Schedule of disaggregated revenues from contracts	Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Wellsite services $ 73.7 $ 77.1 $ 141.4 $ 159.6 Transloading and Other 0.2 0.1 0.4 0.3 Total revenue $ 73.9 $ 77.2 $ 141.8 $ 159.9

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	6 Months Ended
Property, Plant and Equipment (Tables)	Jun. 30, 2024
Property, Plant and Equipment
Schedule of property plant and equipment	June 30, December 31, 2024 2023 Systems and related equipment $ 444.0 $ 434.4 Systems in process 17.3 21.1 Vehicles 13.4 13.5 Machinery and equipment 5.8 5.8 Buildings 4.9 4.9 Computer hardware and software 3.9 3.9 Land 0.6 0.6 Furniture and fixtures 1.3 1.3 Property, plant and equipment, gross $ 491.2 $ 485.5 Less: accumulated depreciation (179.1) (160.4) Property, plant and equipment, net $ 312.1 $ 325.1

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	6 Months Ended
Accrued Liabilities (Tables)	Jun. 30, 2024
Accrued Liabilities
Schedule of accrued liabilities	June 30, December 31, 2024 2023 Property, plant and equipment $ — $ 0.8 Employee-related expenses 5.8 7.6 Selling, general and administrative 1.9 1.3 Cost of services 7.8 3.5 Excise, franchise and sales taxes 1.2 1.5 Ad valorem taxes 1.6 5.6 Accrued liabilities $ 18.3 $ 20.3

Equity (Tables)

Equity (Tables)	6 Months Ended
Equity (Tables)	Jun. 30, 2024
Equity
Schedule of earnings per share calculation	Three Months Ended June 30, Six Months Ended June 30, Basic earnings per share: 2024 2023 2024 2023 Numerator (in millions) Net income attributable to Solaris Oilfield Infrastructure, Inc. $ 6.2 $ 7.5 $ 10.5 $ 15.1 Less: income attributable to participating securities (1) (0.4) (0.4) (0.7) (0.7) Net income attributable to Class A common stockholders $ 5.8 $ 7.1 $ 9.8 $ 14.4 Denominator Weighted average number of unrestricted outstanding Class A common stock used to calculate basic earnings per share 28,335,491 29,541,772 28,461,172 30,373,401 Diluted weighted-average shares of Class A common stock outstanding used to calculate diluted earnings per share 28,335,491 29,541,772 28,461,172 30,373,401 Earnings per share of Class A common stock - basic $ 0.20 $ 0.24 $ 0.35 $ 0.47 Earnings per share of Class A common stock - diluted $ 0.20 $ 0.24 $ 0.35 $ 0.47 (1) The Company’s unvested restricted stock awards are participating securities because they entitle the holders to non-forfeitable rights to dividends until the awards vest or are forfeited.
Schedule of antidilutive shares	Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Class B common stock 13,671,971 13,671,971 13,671,971 13,671,971 Restricted stock awards 2,010,964 1,517,774 1,833,239 1,446,662 Performance-based restricted stock units 300,142 175,353 210,149 175,746 Stock options 6,605 5,500 6,605 5,467 Total 15,989,682 15,370,598 15,721,964 15,299,846

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Credit Losses (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Summary of Significant Accounting Policies
Allowance for credit losses, beginning	$ 1.3	$ 0.4	$ 1	$ 0.4
Provision for credit losses, net of recoveries	(0.2)	0	0.1	0
Write-offs	0	0	0	0
Allowance for credit losses, ending	$ 1.1	$ 0.4	$ 1.1	$ 0.4

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Revenues Disaggregated (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Revenue	$ 73,886	$ 77,202	$ 141,776	$ 159,924
Wellsite services
Disaggregation of Revenue [Line Items]
Revenue	73,700	77,100	141,400	159,600
Transloading and Other
Disaggregation of Revenue [Line Items]
Revenue	$ 200	$ 100	$ 400	$ 300

Property, Plant and Equipment_2

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Property, Plant and Equipment
Property, plant and equipment, gross	$ 491,200		$ 491,200		$ 485,500
Less: accumulated depreciation	(179,100)		(179,100)		(160,400)
Property, plant and equipment, net	312,077		312,077		325,121
Depreciation expense	9,400	$ 8,900	19,100	$ 17,100
Reclassification of assets held for sale to property, plant and equipment			3,000
Systems and related equipment
Property, Plant and Equipment
Property, plant and equipment, gross	444,000		444,000		434,400
Systems in process
Property, Plant and Equipment
Property, plant and equipment, gross	17,300		17,300		21,100
Vehicles
Property, Plant and Equipment
Property, plant and equipment, gross	13,400		13,400		13,500
Machinery and equipment
Property, Plant and Equipment
Property, plant and equipment, gross	5,800		5,800		5,800
Buildings
Property, Plant and Equipment
Property, plant and equipment, gross	4,900		4,900		4,900
Computer hardware and software
Property, Plant and Equipment
Property, plant and equipment, gross	3,900		3,900		3,900
Land
Property, Plant and Equipment
Property, plant and equipment, gross	600		600		600
Furniture and fixtures
Property, Plant and Equipment
Property, plant and equipment, gross	$ 1,300		$ 1,300		$ 1,300

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Accrued Liabilities
Property, plant and equipment		$ 800
Employee related expenses	$ 5,800	7,600
Selling, general and administrative	1,900	1,300
Cost of services	7,800	3,500
Excise, franchise and sales taxes	1,200	1,500
Ad valorem taxes	1,600	5,600
Accrued liabilities	$ 18,307	$ 20,292

Senior Secured Credit Facility

Senior Secured Credit Facility (Details) - USD ($) $ in Millions		1 Months Ended
	Jul. 30, 2024	Jul. 31, 2024	Jun. 30, 2024
Subsequent Event \| Mobile Energy Rentals LLC
Senior Secured Credit Facility
Amount drawn	$ 30
Amount financed	$ 29.8
Interest rate	10%
2023 Credit Agreement
Senior Secured Credit Facility
Outstanding credit facility			$ 16
Remaining borrowing capacity			$ 47.8
2023 Credit Agreement \| Subsequent Event
Senior Secured Credit Facility
Amount drawn		$ 33
Remaining borrowing capacity		14.8
2023 Credit Agreement \| Subsequent Event \| Mobile Energy Rentals LLC
Senior Secured Credit Facility
Amount financed		$ 29.8

Other Current Liabilities (Deta

Other Current Liabilities (Details) - Insurance premium financing agreements - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Other Current Liabilities
Outstanding amount	$ 3		$ 0.4
Fixed rate loan	$ 3.6	$ 1.5
Interest rate	8.10%	8%
Periodic payment	$ 0.3	$ 0.1

Equity - Dividends (Details)

Equity - Dividends (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Equity - Dividends (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Equity
Distributions paid to unit holders			$ 3,282	$ 3,489
Dividend paid to common stock	$ 3,600	$ 3,400	7,289	7,044
Solaris LLC
Equity
Distributions paid to unit holders	$ 5,300	$ 4,900	$ 10,600	$ 10,100

Equity - Share Repurchase (Deta

Equity - Share Repurchase (Details) - USD ($) $ / shares in Units, $ in Millions	6 Months Ended	16 Months Ended
	Jun. 30, 2024	Jun. 30, 2024	Mar. 01, 2023
Equity
Remaining authorized for future repurchases	$ 15.4	$ 15.4
Stock repurchase excise tax, percentage	1%	1%
Accrued stock repurchase excise tax	$ 0.3	$ 0.3
Class A Common Stock
Equity
Repurchased and retired (in shares)	1,108,349	4,272,127
Repurchased and retired	$ 8.1	$ 34.6
Average price (in dollars per share)	$ 7.30	$ 8.09
Class A Common Stock \| Maximum
Equity
Share Repurchase, Authorized			$ 50

Equity - EPS (Details)

Equity - EPS (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Numerator
Net income attributable to Solaris Oilfield Infrastructure Inc.	$ 6,208	$ 7,532	$ 10,525	$ 15,101
Less: income attributable to participating securities	(410)	(383)	(676)	(700)
Class A Common Stock
Numerator
Net income attributable to Class A common shareholders	$ 5,798	$ 7,149	$ 9,849	$ 14,401
Denominator
Weighted average number of unrestricted outstanding Class A common stock used to calculate basic earnings per share	28,335,491	29,541,772	28,461,172	30,373,401
Diluted weighted-average shares of Class A common stock outstanding used to calculate diluted earnings per share	28,335,491	29,541,772	28,461,172	30,373,401
Earnings per share of Class A common stock - basic (in dollars per share)	$ 0.20	$ 0.24	$ 0.35	$ 0.47
Earnings per share of Class A common stock - diluted (in dollars per share)	$ 0.20	$ 0.24	$ 0.35	$ 0.47

Equity - Antidilutive (Details)

Equity - Antidilutive (Details) - shares	3 Months Ended		6 Months Ended
Equity - Antidilutive (Details) - shares	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Potentially dilutive shares
Excluded from EPS calculation (in shares)	15,989,682	15,370,598	15,721,964	15,299,846
Class B Common Stock
Potentially dilutive shares
Excluded from EPS calculation (in shares)	13,671,971	13,671,971	13,671,971	13,671,971
Restricted stock awards
Potentially dilutive shares
Excluded from EPS calculation (in shares)	2,010,964	1,517,774	1,833,239	1,446,662
Performance-based restricted stock units
Potentially dilutive shares
Excluded from EPS calculation (in shares)	300,142	175,353	210,149	175,746
Employee Stock Option
Potentially dilutive shares
Excluded from EPS calculation (in shares)	6,605	5,500	6,605	5,467

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income tax expense	$ 1,345	$ 2,659	$ 3,202	$ 5,145
Effective tax rate	12%	17.80%	15.80%	17.50%
Tax Receivable Agreement
Benefit of remaining cash savings (as a percent)			85%
Tax Receivable Agreement \| Related Party
Total notes payable	$ 71,500		$ 71,500
Liability Related to Tax Receivable Agreement, Current	$ 2,700		$ 2,700

Concentrations (Details)

Concentrations (Details)	3 Months Ended		6 Months Ended		12 Months Ended
Concentrations (Details)	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Revenue \| Customer \| One Customer
Concentrations
Concentration risk (as a percent)	18%	15%	14%	13%
Revenue \| Customer \| Two Customers
Concentrations
Concentration risk (as a percent)	13%	11%	13%	11%
Revenue \| Customer \| Three Customers
Concentrations
Concentration risk (as a percent)	12%		11%	11%
Accounts receivable \| Customer \| One Customer
Concentrations
Concentration risk (as a percent)			17%		12%
Accounts receivable \| Customer \| Two Customers
Concentrations
Concentration risk (as a percent)			12%		10%
Accounts receivable \| Customer \| Three Customers
Concentrations
Concentration risk (as a percent)			11%
Purchases \| Supplier \| One Supplier
Concentrations
Concentration risk (as a percent)	18%	15%	14%
Accounts payables \| Supplier \| One Supplier
Concentrations
Concentration risk (as a percent)			18%		17%
Accounts payables \| Supplier \| Two Suppliers
Concentrations
Concentration risk (as a percent)			11%		12%
Accounts payables \| Supplier \| Supplier Three
Concentrations
Concentration risk (as a percent)			10%

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Thousands	3 Months Ended	6 Months Ended
Commitments and Contingencies (Details) $ in Thousands	Jun. 30, 2024 USD ($)	Jun. 30, 2024 USD ($)
Settlement agreement with brown country		$ 900
Reversal of Property tax expenses	$ 4,300	4,300
Property tax contingency	2,483	2,483
Reduction in costs of Services		1,800
Related Party \| Solaris Energy Management, LLC
Other commitments	$ 2,600	$ 2,600

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Related Party Transactions
Revenue	$ 73,886	$ 77,202	$ 141,776	$ 159,924
Other current liabilities	2,976		2,976		$ 408
Related Party
Related Party Transactions
Revenue	4,246	7,277	7,501	12,171
Related Party \| William A. Zartler
Related Party Transactions
Payment made to related party	100	300	200	800
Related Party \| William A. Zartler \| Prepaid operating expenses and other current assets
Related Party Transactions
Due from related party	100		100		100
Related Party \| Solaris Energy Management, LLC
Related Party Transactions
Other commitments	2,600		2,600
Related Party \| THRC Affiliates
Related Party Transactions
Payment made to related party	0	600	0	1,700
Due from related party	4,400		4,400		2,400
Revenue	4,200	$ 7,300	7,500	$ 12,200
Other current liabilities	100		100		0
Related Party \| THRC Affiliates - Services
Related Party Transactions
Other current liabilities	100		100		$ 0
Other commitments	$ 500		$ 500
THRC \| Solaris Oilfield Infrastructure \| Class A Common Stock
Related Party Transactions
Noncontrolling interest (as a percent)	10.50%		10.50%

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent event - USD ($) $ / shares in Units, shares in Millions, $ in Millions			1 Months Ended
	Jul. 30, 2024	Jul. 09, 2024	Jul. 31, 2024	Jul. 25, 2024
Q3 2024 dividend
Subsequent Events
Dividends payable, date declared				Jul. 25, 2024
Dividends payable, date paid				Sep. 06, 2024
Dividends payable, date of record				Aug. 23, 2024
Q3 2024 dividend \| Class A Common Stock
Subsequent Events
Quarterly cash dividend, per share				$ 0.12
Q3 2024 dividend \| Solaris LLC \| Class A Common Stock
Subsequent Events
Quarterly cash dividend, per share				$ 0.12
2023 Credit Agreement
Subsequent Events
Amount drawn			$ 33
Senior Secured Bridge Term Loan Facility
Subsequent Events
Maximum borrowing capacity		$ 300
Expiration period for line of credit		364 days
Loan commitment fees paid by the company		$ 4.8
Mobile Energy Rentals LLC
Subsequent Events
Cash consideration		60
Liabilities assumed		$ 308
Equity consideration (in shares)		16.5
Amount financed	$ 29.8
Interest rate	10%
Amount drawn	$ 30
Mobile Energy Rentals LLC \| 2023 Credit Agreement
Subsequent Events
Amount financed			$ 29.8