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Supplemental Guarantor Financial Information (Tables) | 3 Months Ended
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Mar. 31, 2013
Supplemental Guarantor Financial Information |
Condensed Consolidating Balance Sheet | March 31, 2013 (In thousands)
|  | Parent |  | Guarantor Subsidiaries |  | Other Subsidiaries |  | Eliminations |  | Consolidation |
ASSETS |  |  |  |  |  |  |  |  |  |  |
Current assets |  | $ | 1,598 |  | $ | 781,103 |  | $ | 518,392 |  | $ | — |  | $ | 1,301,093 |
Current assets associated with discontinued operations |  | — |  | — |  | 20,994 |  | — |  | 20,994 |
Total current assets |  | 1,598 |  | 781,103 |  | 539,386 |  | — |  | 1,322,087 |
Property, plant and equipment, net |  | — |  | 1,163,519 |  | 1,695,903 |  | — |  | 2,859,422 |
Investments in affiliates |  | 1,722,665 |  | 1,529,139 |  | — |  | (3,251,804 | ) | — |
Intangible and other assets, net |  | 30,976 |  | 33,175 |  | 136,363 |  | (19,268 | ) | 181,246 |
Intercompany receivables |  | 715,860 |  | 83,499 |  | 551,744 |  | (1,351,103 | ) | — |
Long-term assets associated with discontinued operations |  | — |  | — |  | 297 |  | — |  | 297 |
Total long-term assets |  | 2,469,501 |  | 2,809,332 |  | 2,384,307 |  | (4,622,175 | ) | 3,040,965 |
Total assets |  | $ | 2,471,099 |  | $ | 3,590,435 |  | $ | 2,923,693 |  | $ | (4,622,175 | ) | $ | 4,363,052 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |  |  |  |  |
Current liabilities |  | $ | 13,121 |  | $ | 497,311 |  | $ | 262,209 |  | $ | — |  | $ | 772,641 |
Current liabilities associated with discontinued operations |  | — |  | — |  | 9,782 |  | — |  | 9,782 |
Total current liabilities |  | 13,121 |  | 497,311 |  | 271,991 |  | — |  | 782,423 |
Long-term debt |  | 896,728 |  | 378 |  | 732,548 |  | — |  | 1,629,654 |
Intercompany payables |  | — |  | 1,267,604 |  | 83,499 |  | (1,351,103 | ) | — |
Other long-term liabilities |  | — |  | 102,477 |  | 136,878 |  | (19,268 | ) | 220,087 |
Long-term liabilities associated with discontinued operations |  | — |  | — |  | 933 |  | — |  | 933 |
Total liabilities |  | 909,849 |  | 1,867,770 |  | 1,225,849 |  | (1,370,371 | ) | 2,633,097 |
Total equity |  | 1,561,250 |  | 1,722,665 |  | 1,697,844 |  | (3,251,804 | ) | 1,729,955 |
Total liabilities and equity |  | $ | 2,471,099 |  | $ | 3,590,435 |  | $ | 2,923,693 |  | $ | (4,622,175 | ) | $ | 4,363,052 |
December 31, 2012 (In thousands)
|  | Parent |  | Guarantor Subsidiaries |  | Other Subsidiaries |  | Eliminations |  | Consolidation |
ASSETS |  |  |  |  |  |  |  |  |  |  |
Current assets |  | $ | 142 |  | $ | 754,303 |  | $ | 461,810 |  | $ | (33 | ) | $ | 1,216,222 |
Current assets associated with discontinued operations |  | — |  | — |  | 21,746 |  | — |  | 21,746 |
Total current assets |  | 142 |  | 754,303 |  | 483,556 |  | (33 | ) | 1,237,968 |
Property, plant and equipment, net |  | — |  | 1,299,797 |  | 1,542,234 |  | — |  | 2,842,031 |
Investments in affiliates |  | 1,631,185 |  | 1,145,551 |  | — |  | (2,776,736 | ) | — |
Intangible and other assets, net |  | 33,234 |  | 37,748 |  | 123,681 |  | (19,815 | ) | 174,848 |
Intercompany receivables |  | 704,319 |  | 83,362 |  | 419,108 |  | (1,206,789 | ) | — |
Total long-term assets |  | 2,368,738 |  | 2,566,458 |  | 2,085,023 |  | (4,003,340 | ) | 3,016,879 |
Total assets |  | $ | 2,368,880 |  | $ | 3,320,761 |  | $ | 2,568,579 |  | $ | (4,003,373 | ) | $ | 4,254,847 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |  |  |  |  |
Current liabilities |  | $ | 5,844 |  | $ | 462,668 |  | $ | 294,529 |  | $ | (74 | ) | $ | 762,967 |
Current liabilities associated with discontinued operations |  | — |  | — |  | 11,572 |  | — |  | 11,572 |
Total current liabilities |  | 5,844 |  | 462,668 |  | 306,101 |  | (74 | ) | 774,539 |
Long-term debt |  | 884,423 |  | — |  | 680,500 |  | — |  | 1,564,923 |
Intercompany payables |  | — |  | 1,123,427 |  | 83,362 |  | (1,206,789 | ) | — |
Other long-term liabilities |  | — |  | 103,481 |  | 128,375 |  | (19,774 | ) | 212,082 |
Long-term liabilities associated with discontinued operations |  | — |  | — |  | 1,044 |  | — |  | 1,044 |
Total liabilities |  | 890,267 |  | 1,689,576 |  | 1,199,382 |  | (1,226,637 | ) | 2,552,588 |
Total equity |  | 1,478,613 |  | 1,631,185 |  | 1,369,197 |  | (2,776,736 | ) | 1,702,259 |
Total liabilities and equity |  | $ | 2,368,880 |  | $ | 3,320,761 |  | $ | 2,568,579 |  | $ | (4,003,373 | ) | $ | 4,254,847 |
Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) | Three Months Ended March 31, 2013 (In thousands)
|  | Parent |  | Guarantor Subsidiaries |  | Other Subsidiaries |  | Eliminations |  | Consolidation |
Revenue |  | $ | — |  | $ | 535,427 |  | $ | 378,871 |  | $ | (102,921 | ) | $ | 811,377 |
Costs of sales (excluding depreciation and amortization expense) |  | — |  | 429,448 |  | 259,570 |  | (102,921 | ) | 586,097 |
Selling, general and administrative |  | 102 |  | 45,689 |  | 39,188 |  | — |  | 84,979 |
Depreciation and amortization |  | — |  | 34,032 |  | 48,614 |  | — |  | 82,646 |
Long-lived asset impairment |  | — |  | 1,895 |  | 1,668 |  | — |  | 3,563 |
Interest expense |  | 20,023 |  | 485 |  | 7,366 |  | — |  | 27,874 |
Other (income) expense: |  |  |  |  |  |  |  |  |  |  |
Intercompany charges, net |  | (9,085 | ) | 8,147 |  | 938 |  | — |  | — |
Equity in income of affiliates |  | (57,703 | ) | (53,188 | ) | (4,665 | ) | 110,891 |  | (4,665 | )
Other, net |  | 9 |  | (7,007 | ) | (2,811 | ) | — |  | (9,809 | )
Income before income taxes |  | 46,654 |  | 75,926 |  | 29,003 |  | (110,891 | ) | 40,692 |
Provision for (benefit from) income taxes |  | (3,551 | ) | 18,223 |  | 479 |  | — |  | 15,151 |
Income from continuing operations |  | 50,205 |  | 57,703 |  | 28,524 |  | (110,891 | ) | 25,541 |
Income from discontinued operations, net of tax |  | — |  | — |  | 33,250 |  | — |  | 33,250 |
Net Income |  | 50,205 |  | 57,703 |  | 61,774 |  | (110,891 | ) | 58,791 |
Less: Net income attributable to the noncontrolling interest |  | — |  | — |  | (8,586 | ) | — |  | (8,586 | )
Net income attributable to Exterran stockholders |  | 50,205 |  | 57,703 |  | 53,188 |  | (110,891 | ) | 50,205 |
Other comprehensive loss attributable to Exterran stockholders |  | (5,443 | ) | (5,335 | ) | (4,863 | ) | 10,198 |  | (5,443 | )
Comprehensive income attributable to Exterran stockholders |  | $ | 44,762 |  | $ | 52,368 |  | $ | 48,325 |  | $ | (100,693 | ) | $ | 44,762 |
Three Months Ended March 31, 2012 (In thousands)
|  | Parent |  | Guarantor Subsidiaries |  | Other Subsidiaries |  | Eliminations |  | Consolidation |
Revenue |  | $ | — |  | $ | 329,991 |  | $ | 347,577 |  | $ | (62,327 | ) | $ | 615,241 |
Costs of sales (excluding depreciation and amortization expense) |  | — |  | 257,120 |  | 230,665 |  | (62,327 | ) | 425,458 |
Selling, general and administrative |  | 208 |  | 49,351 |  | 45,280 |  | — |  | 94,839 |
Depreciation and amortization |  | — |  | 36,263 |  | 48,848 |  | — |  | 85,111 |
Long-lived asset impairment |  | — |  | 2,916 |  | 1,206 |  | — |  | 4,122 |
Restructuring charges |  | — |  | 2,202 |  | 845 |  | — |  | 3,047 |
Interest expense |  | 28,683 |  | 3,053 |  | 6,255 |  | — |  | 37,991 |
Other (income) expense: |  |  |  |  |  |  |  |  |  |  |
Intercompany charges, net |  | (17,275 | ) | 14,802 |  | 2,473 |  | — |  | — |
Equity in income of affiliates |  | (13,302 | ) | (37,822 | ) | (37,339 | ) | 51,124 |  | (37,339 | )
Other, net |  | 10 |  | (2,050 | ) | (4,054 | ) | — |  | (6,094 | )
Income before income taxes |  | 1,676 |  | 4,156 |  | 53,398 |  | (51,124 | ) | 8,106 |
Provision for (benefit from) income taxes |  | (3,819 | ) | (9,146 | ) | 12,622 |  | — |  | (343 | )
Income from continuing operations |  | 5,495 |  | 13,302 |  | 40,776 |  | (51,124 | ) | 8,449 |
Loss from discontinued operations, net of tax |  | — |  | — |  | (1,162 | ) | — |  | (1,162 | )
Net income |  | 5,495 |  | 13,302 |  | 39,614 |  | (51,124 | ) | 7,287 |
Less: Net income attributable to the noncontrolling interest |  | — |  | — |  | (1,792 | ) | — |  | (1,792 | )
Net income attributable to Exterran stockholders |  | 5,495 |  | 13,302 |  | 37,822 |  | (51,124 | ) | 5,495 |
Other comprehensive income attributable to Exterran stockholders |  | 6,528 |  | 5,156 |  | 1,231 |  | (6,387 | ) | 6,528 |
Comprehensive income attributable to Exterran stockholders |  | $ | 12,023 |  | $ | 18,458 |  | $ | 39,053 |  | $ | (57,511 | ) | $ | 12,023 |
Condensed Consolidating Statement of Cash Flows | Three Months Ended March 31, 2013 (In thousands)
|  | Parent |  | Guarantor Subsidiaries |  | Other Subsidiaries |  | Eliminations |  | Consolidation |
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |
Net cash provided by (used in) continuing operations |  | $ | 6,851 |  | $ | 19,866 |  | $ | (7,289 | ) | $ | — |  | $ | 19,428 |
Net cash provided by discontinued operations |  | — |  | — |  | 3,314 |  | — |  | 3,314 |
Net cash provided by (used in) operating activities |  | 6,851 |  | 19,866 |  | (3,975 | ) | — |  | 22,742 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | — |  | (68,670 | ) | (41,698 | ) | 3,378 |  | (106,990 | )
Proceeds from sale of property, plant and equipment |  | — |  | 13,522 |  | 4,801 |  | (3,378 | ) | 14,945 |
Capital distributions received from consolidated subsidiaries |  | — |  | 8,069 |  | — |  | (8,069 | ) | — |
Return of investments in non-consolidated affiliates |  | — |  | — |  | 4,665 |  | — |  | 4,665 |
Investment in consolidated subsidiaries |  | — |  | (5,357 | ) | — |  | 5,357 |  | — |
Net cash used in continuing operations |  | — |  | (52,436 | ) | (32,232 | ) | (2,712 | ) | (87,380 | )
Net cash provided by discontinued operations |  | — |  | — |  | 30,674 |  | — |  | 30,674 |
Net cash used in investing activities |  | — |  | (52,436 | ) | (1,558 | ) | (2,712 | ) | (56,706 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |
Proceeds from borrowings of long-term debt |  | 405,001 |  | — |  | 799,036 |  | — |  | 1,204,037 |
Repayments of long-term debt |  | (398,251 | ) | — |  | (747,000 | ) | — |  | (1,145,251 | )
Payments for debt issuance costs |  | — |  | — |  | (11,373 | ) | — |  | (11,373 | )
Proceeds from stock options exercised |  | 2,576 |  | — |  | — |  | — |  | 2,576 |
Proceeds from stock issued pursuant to our employee stock purchase plan |  | 345 |  | — |  | — |  | — |  | 345 |
Purchases of treasury stock |  | (3,368 | ) | — |  | — |  | — |  | (3,368 | )
Stock-based compensation excess tax benefit |  | 1,311 |  | — |  | — |  | — |  | 1,311 |
Distributions to noncontrolling partners in the Partnership |  | — |  | — |  | (23,331 | ) | 8,069 |  | (15,262 | )
Capital contributions received from parent |  | — |  | — |  | 5,357 |  | (5,357 | ) | — |
Borrowings (repayments) between consolidated subsidiaries, net |  | (14,391 | ) | 22,693 |  | (8,302 | ) | — |  | — |
Net cash provided by (used in) financing activities |  | (6,777 | ) | 22,693 |  | 14,387 |  | 2,712 |  | 33,015 |
Effect of exchange rate changes on cash and cash equivalents |  | — |  | — |  | (454 | ) | — |  | (454 | )
Net increase (decrease) in cash and cash equivalents |  | 74 |  | (9,877 | ) | 8,400 |  | — |  | (1,403 | )
Cash and cash equivalents at beginning of period |  | 24 |  | 10,461 |  | 24,116 |  | — |  | 34,601 |
Cash and cash equivalents at end of period |  | $ | 98 |  | $ | 584 |  | $ | 32,516 |  | $ | — |  | $ | 33,198 |
Three Months Ended March 31, 2012 (In thousands)
|  | Parent |  | Guarantor Subsidiaries |  | Other Subsidiaries |  | Eliminations |  | Consolidation |
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |
Net cash provided by (used in) continuing operations |  | $ | 1,894 |  | $ | (13,878 | ) | $ | 49,633 |  | $ | — |  | $ | 37,649 |
Net cash provided by discontinued operations |  | — |  | — |  | 1,011 |  | — |  | 1,011 |
Net cash provided by (used in) operating activities |  | 1,894 |  | (13,878 | ) | 50,644 |  | — |  | 38,660 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | — |  | (68,175 | ) | (47,297 | ) | — |  | (115,472 | )
Contract operations acquisition |  | — |  | 77,415 |  | (77,415 | ) | — |  | — |
Proceeds from sale of property, plant and equipment |  | — |  | 4,094 |  | 5,691 |  | — |  | 9,785 |
Capital distributions received from consolidated subsidiaries |  | — |  | 7,373 |  | — |  | (7,373 | ) | — |
Increase in restricted cash |  | — |  | — |  | (15 | ) | — |  | (15 | )
Return of investment in non-consolidated subsidiaries |  | — |  | — |  | 37,563 |  | — |  | 37,563 |
Cash invested in non-consolidated affiliates |  | — |  | — |  | (224 | ) | — |  | (224 | )
Investment in consolidated subsidiaries |  | — |  | (10,231 | ) | — |  | 10,231 |  | — |
Net cash provided by (used in) continuing operations |  | — |  | 10,476 |  | (81,697 | ) | 2,858 |  | (68,363 | )
Net cash used in discontinued operations |  | — |  | — |  | (1,081 | ) | — |  | (1,081 | )
Net cash provided by (used in) investing activities |  | — |  | 10,476 |  | (82,778 | ) | 2,858 |  | (69,444 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |
Proceeds from borrowings of long-term debt |  | 279,500 |  | — |  | 565,000 |  | — |  | 844,500 |
Repayments of long-term debt |  | (438,000 | ) | — |  | (475,048 | ) | — |  | (913,048 | )
Payments for debt issuance costs |  | — |  | — |  | (525 | ) | — |  | (525 | )
Net proceeds from the sale of Partnership units |  | — |  | — |  | 114,568 |  | — |  | 114,568 |
Proceeds from stock issued pursuant to our employee stock purchase plan |  | 405 |  | — |  | — |  | — |  | 405 |
Purchases of treasury stock |  | (1,757 | ) | — |  | — |  | — |  | (1,757 | )
Stock-based compensation excess tax benefit |  | 194 |  | — |  | — |  | — |  | 194 |
Distributions to noncontrolling partners in the Partnership |  | — |  | — |  | (19,580 | ) | 7,373 |  | (12,207 | )
Net proceeds from sale of general partner units |  | — |  | — |  | 2,426 |  | (2,426 | ) | — |
Capital contributions received from parent |  | — |  | — |  | 7,805 |  | (7,805 | ) | — |
Borrowings (repayments) between consolidated subsidiaries, net |  | 157,942 |  | 1,691 |  | (159,633 | ) | — |  | — |
Net cash provided by (used in) financing activities |  | (1,716 | ) | 1,691 |  | 35,013 |  | (2,858 | ) | 32,130 |
Effect of exchange rate changes on cash and cash equivalents |  | — |  | — |  | 243 |  | — |  | 243 |
Net increase (decrease) in cash and cash equivalents |  | 178 |  | (1,711 | ) | 3,122 |  | — |  | 1,589 |
Cash and cash equivalents at beginning of period |  | 93 |  | 2,810 |  | 19,000 |  | — |  | 21,903 |
Cash and cash equivalents at end of period |  | $ | 271 |  | $ | 1,099 |  | $ | 22,122 |  | $ | — |  | $ | 23,492 |

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