XML 16 R6.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Condensed Consolidated Statements of Equity (Unaudited) - USD ($)
$ in Millions
Total
Cumulus Digital Holdings
[7]
TeraWulf
[8]
Common stock shares
Additional paid-in capital
Accumulated earnings (deficit)
Accumulated other comprehensive income (loss)
Treasury Stock
Member's Equity
Non controlling Interest
Non controlling Interest
Cumulus Digital Holdings
[7]
Non controlling Interest
TeraWulf
[8]
Beginning balance at Dec. 31, 2022             $ (167)          
Member's Equity, Beginning balance at Dec. 31, 2022 $ (482)               $ (573) $ 91    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Net income (loss) 46               48 (2)    
Other comprehensive income (loss) 9               9      
Non-cash contributions [1] 38                 38    
Non-cash distributions [2] (2)                 (2)    
Member's Equity, Ending balance at Mar. 31, 2023 (391)               (516) 125    
Beginning balance at Dec. 31, 2022             (167)          
Member's Equity, Beginning balance at Dec. 31, 2022 (482)               (573) 91    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Net income (loss) 465                      
Other comprehensive income (loss) 6           6          
Ending balance at May. 17, 2023 2,431       $ 2,321 $ 0 0     110    
Member's Equity, Beginning balance at Mar. 31, 2023 (391)               (516) 125    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Net income (loss) 419               431 (12)    
Other comprehensive income (loss) (3)               (3)      
Non-cash distributions [2] (3)                 (3)    
Cancellation of member's equity [3] 88               88      
Issuance of member's equity [3] 2,313               2,313      
Issuance of warrants [3] 8               8      
Common equity from member's equity exchange 0       2,321       $ (2,321)      
Ending balance at May. 17, 2023 2,431       2,321 0 0     110    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Net income (loss) 31                      
Other comprehensive income (loss) (3)           (3)          
Ending balance at Jun. 30, 2023 2,460       2,325 29 (3)     109    
Ending balance (in shares) at Jun. 30, 2023 [4]       59,029,000                
Beginning balance at May. 18, 2023 2,431       2,321 0 0     110    
Beginning balance (in shares) at May. 18, 2023 [4]       59,029,000                
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Net income (loss) 31         29       2    
Other comprehensive income (loss) (3)           (3)          
Non-cash distributions [2] (3)                 (3)    
Other 4       4              
Ending balance at Jun. 30, 2023 2,460       2,325 29 (3)     109    
Ending balance (in shares) at Jun. 30, 2023 [4]       59,029,000                
Beginning balance at Dec. 31, 2023 $ 2,534       2,346 134 (23) $ 0   77    
Beginning balance (in shares) at Dec. 31, 2023 59,028,843     59,029,000 [5]                
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Net income (loss) $ 319         294       25    
Other comprehensive income (loss) (4)           (4)          
Share repurchase (in shares) [5]       (493,000)                
Share repurchase (39)             (39)        
Purchase of noncontrolling interest [6] (39)       (15)         (24)    
Non-cash distributions   $ (1) $ (12)               $ (1) $ (12)
Stock-based compensation 8       8              
Ending balance at Mar. 31, 2024 2,766       2,339 428 (27) (39)   65    
Ending balance (in shares) at Mar. 31, 2024 [5]       58,536,000                
Beginning balance at Dec. 31, 2023 $ 2,534       2,346 134 (23) 0   77    
Beginning balance (in shares) at Dec. 31, 2023 59,028,843     59,029,000 [5]                
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Net income (loss) $ 777                      
Other comprehensive income (loss) $ (6)           (6)          
Share repurchase (in shares) (5,773,889)                      
Retirement of treasury stock               (661)        
Ending balance at Jun. 30, 2024 $ 2,572       2,092 448 (29) 0   61    
Ending balance (in shares) at Jun. 30, 2024 53,254,954     53,255,000 [5]                
Beginning balance at Mar. 31, 2024 $ 2,766       2,339 428 (27) (39)   65    
Beginning balance (in shares) at Mar. 31, 2024 [5]       58,536,000                
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Net income (loss) 458         454       4    
Other comprehensive income (loss) (2)           (2)          
Share repurchase (in shares) [5]       (5,281,000)                
Share repurchase (622)             (622)        
Non-cash distributions [8] (8)                 (8)    
Retirement of treasury stock 0       (227) (434)   661        
Cash settlement of restricted stock units (28)       (28)              
Stock-based compensation 8       8              
Ending balance at Jun. 30, 2024 $ 2,572       $ 2,092 $ 448 $ (29) $ 0   $ 61    
Ending balance (in shares) at Jun. 30, 2024 53,254,954     53,255,000 [5]                
[1] Relates to contributions of cryptocurrency mining machines by TeraWulf to Nautilus.
[2] Relates primarily to distributions of cryptocurrency mining machines or Bitcoin to TeraWulf.
[3] Pursuant to the Plan of Reorganization: (i) existing equity interests were canceled; and (ii) new equity interests and equity-classified warrants were issued.
[4] Shares in thousands.
[5] Shares in thousands.
[6] TES acquisition of remaining noncontrolling interests in Cumulus Digital Holdings. See Note 17 for additional information.
[7] Distribution to noncontrolling interest owners of Cumulus Digital Holdings.
[8] Related primarily to distribution of Bitcoin to TeraWulf.