XML 58 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Cash flows from operating activities:    
Net income $ 97,915 $ 128,556
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 295,734 244,702
Long-lived asset impairment 26,039 24,708
Amortization of deferred financing costs 4,702 6,115
Income from discontinued operations, net of tax (54,499) (47,531)
Amortization of debt discount 12,099 17,329
Provision for doubtful accounts 1,691 834
Gain on sale of property, plant and equipment (5,582) (23,880)
Equity in income of non-consolidated affiliates (14,553) (14,165)
Amortization of terminated interest rate swaps 3,470 2,894
Interest rate swaps 258 295
(Gain) loss on remeasurement of intercompany balances (116) 895
Stock-based compensation expense 15,289 12,122
Deferred income tax provision (15,450) 14,865
Changes in assets and liabilities, net of acquisitions:    
Accounts receivable and notes (43,328) 417
Inventory (10,095) (75,182)
Costs and estimated earnings versus billings on uncompleted contracts (12,106) (95,174)
Other current assets (7,627) 13,380
Accounts payable and other liabilities 10,818 4,620
Deferred revenue (22,445) 21,097
Other (6,046) (14,713)
Net cash provided by continuing operations 276,168 222,184
Net cash provided by discontinued operations 3,954 6,054
Net cash provided by operating activities 280,122 228,238
Cash flows from investing activities:    
Capital expenditures (385,739) (307,863)
Proceeds from sale of property, plant and equipment 19,736 83,978
Payments for MidCon acquisitions (494,755)  
Return of investments in non-consolidated affiliates 14,750 14,165
Increase in restricted cash (245)  
Cash invested in non-consolidated affiliates (197)  
Net cash used in continuing operations (846,450) (209,720)
Net cash provided by discontinued operations 49,835 58,449
Net cash used in investing activities (796,615) (151,271)
Cash flows from financing activities:    
Proceeds from borrowings of long-term debt 1,849,799 1,778,037
Repayments of long-term debt (1,406,000) (1,796,250)
Payments for debt issuance costs (6,923) (11,929)
Payments above face value for redemption of convertible debt (15,007)  
Payments for settlement of interest rate swaps that include financing elements (2,844) (1,271)
Net proceeds from the sale of Partnership units 169,471  
Proceeds from stock options exercised 11,637 5,975
Proceeds from stock issued pursuant to our employee stock purchase plan 1,324 1,213
Purchases of treasury stock (6,372) (3,594)
Dividends to Exterran stockholders (30,047)  
Stock-based compensation excess tax benefit 8,269 1,075
Distributions to noncontrolling partners in the Partnership (54,893) (46,244)
Net cash provided by (used in) financing activities 518,414 (72,988)
Effect of exchange rate changes on cash and cash equivalents (3,797) (1,516)
Net increase (decrease) in cash and cash equivalents (1,876) 2,463
Cash and cash equivalents at beginning of period 35,665 34,601
Cash and cash equivalents at end of period 33,789 37,064
Supplemental disclosure of non-cash transactions:    
Treasury shares issued for redemption of convertible debt 219,211  
Shares acquired from exercise of call options (89,407)  
Treasury shares issued for exercise of warrants $ 6,851