Supplemental Guarantor Financial Information (Tables)

3 Months Ended

Mar. 31, 2013

Supplemental Guarantor Financial Information

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