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Subsequent Event | 12 Months Ended
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Dec. 31, 2011
Subsequent Event [Abstract] |
SUBSEQUENT EVENT | 24. SUBSEQUENT EVENT In February 2012, we entered into a Contribution, Conveyance and Assumption Agreement to sell to the Partnership contract operations customer service agreements with approximately 40 customers and a fleet of approximately 400 compressor units used to provide compression services under those agreements, comprising approximately 188,000 horsepower, or 5% (by then available horsepower) of our combined U.S. contract operations business. In addition, the assets to be sold include approximately 140 compressor units, comprising approximately 75,000 horsepower, that we currently lease to the Partnership, and a natural gas processing plant with a capacity of 10 million cubic feet per day used to provide processing services pursuant to a long-term services agreement. Total consideration for the transaction is expected to be approximately $184 million excluding transaction costs. In connection with this transaction, we expect to enter into an amendment to our omnibus agreement with the Partnership that would, among other things, increase the cap on SG&A costs we allocate to the Partnership based on such costs we incur on the Partnership’s behalf and extend the term of the caps on the Partnership’s obligation to reimburse us for SG&A costs and operating costs we allocate to the Partnership based on such costs we incur on the Partnership’s behalf for an additional year such that the caps would now terminate on December 31, 2013. EXTERRAN HOLDINGS, INC. SELECTED QUARTERLY UNAUDITED FINANCIAL DATA In the opinion of management, the summarized quarterly financial data below contains all appropriate adjustments, all of which are normally recurring adjustments, considered necessary to present fairly our financial position and the results of operations for the respective periods (in thousands, except per share amounts):
|  | March 31 |  |  | June 30 |  |  | September 30 |  |  | December 31 |
2011(1): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenue from external customers |  | $ | 618,479 |  |  | $ | 657,572 |  |  | $ | 704,478 |  |  | $ | 702,941 |
Gross profit(3) |  |  | 105,058 |  |  |  | 91,594 |  |  |  | 105,714 |  |  |  | 102,483 |
Net loss attributable to Exterran stockholders |  |  | (30,030 | ) |  |  | (28,026 | ) |  |  | (215,974 | ) |  |  | (66,578 | )
Loss per common share attributable to Exterran stockholders: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | (0.48 | ) |  | $ | (0.45 | ) |  | $ | (3.44 | ) |  | $ | (1.06 | )
Diluted |  |  | (0.48 | ) |  |  | (0.45 | ) |  |  | (3.44 | ) |  |  | (1.06 | )
2010(2): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenue from external customers |  | $ | 576,308 |  |  | $ | 643,822 |  |  | $ | 625,623 |  |  | $ | 615,780 |
Gross profit(3) |  |  | 128,000 |  |  |  | 113,251 |  |  |  | 104,688 |  |  |  | 46,925 |
Net income (loss) attributable to Exterran stockholders |  |  | 16,662 |  |  |  | 17,526 |  |  |  | (17,985 | ) |  |  | (118,028 | )
Income (loss) per common share attributable to Exterran stockholders: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.27 |  |  | $ | 0.28 |  |  | $ | (0.29 | ) |  | $ | (1.90 | )
Diluted |  |  | 0.27 |  |  |  | 0.28 |  |  |  | (0.29 | ) |  |  | (1.90 | )
(1) | In the third quarter of 2011, we recorded a $196.1 million goodwill impairment charge (see Note 8) and $2.9 million of restructuring charges (see Note 14). In the fourth quarter of 2011, we recorded $8.7 million of restructuring charges.
(2) | In the fourth quarter of 2010, we recorded a $142.2 million long-lived asset impairment charge, primarily for idle units we retired from our fleet and expect to sell (see Note 13).
(3) | Gross profit is defined as revenue less cost of sales, direct depreciation and amortization expense and long-lived asset impairment charges.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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