Supplemental Guarantor Financial Information (Tables)

12 Months Ended

Dec. 31, 2014

Supplemental Guarantor Financial Information

December 31, 2014

(In thousands)

	Parent		Guarantor Subsidiaries		Other Subsidiaries		Eliminations			Consolidation
ASSETS

Current assets	$	4,846	$	649,719	$	610,574	$	—		$	1,265,139
Current assets associated with discontinued operations	—		—		537		—			537
Total current assets	4,846		649,719		611,111		—			1,265,676
Property, plant and equipment, net	—		1,124,786		2,202,106		—			3,326,892
Investments in affiliates	1,786,572		1,744,614		—		(3,531,186		)	—
Goodwill	—		—		3,738		—			3,738
Intangible and other assets, net	5,966		33,292		204,114		—			243,372
Intercompany receivables	727,896		12,023		529,274		(1,269,193		)	—
Long-term assets associated with discontinued operations	—		—		17,469		—			17,469
Total long-term assets	2,520,434		2,914,715		2,956,701		(4,800,379		)	3,591,471
Total assets	$	2,525,280	$	3,564,434	$	3,567,812	$	(4,800,379	)	$	4,857,147

LIABILITIES AND EQUITY

Current liabilities	$	2,520	$	353,851	$	252,281	$	—		$	608,652
Current liabilities associated with discontinued operations	—		—		2,066		—			2,066
Total current liabilities	2,520		353,851		254,347		—			610,718
Long-term debt	725,500		1,107		1,300,295		—			2,026,902
Intercompany payables	—		1,257,170		12,023		(1,269,193		)	—
Other long-term liabilities	—		165,734		100,431		—			266,165
Long-term liabilities associated with discontinued operations	—		—		317		—			317
Total liabilities	728,020		1,777,862		1,667,413		(1,269,193		)	2,904,102
Total equity	1,797,260		1,786,572		1,900,399		(3,531,186		)	1,953,045
Total liabilities and equity	$	2,525,280	$	3,564,434	$	3,567,812	$	(4,800,379	)	$	4,857,147

Condensed Consolidating Balance Sheet

December 31, 2013

(In thousands)

	Parent		Guarantor Subsidiaries		Other Subsidiaries		Eliminations			Consolidation
ASSETS

Current assets	$	141	$	710,801	$	509,747	$	—		$	1,220,689
Current assets associated with discontinued operations	—		—		442		—			442
Total current assets	141		710,801		510,189		—			1,221,131
Property, plant and equipment, net	—		1,143,111		1,677,161		—			2,820,272
Investments in affiliates	1,851,131		1,680,215		—		(3,531,346		)	—
Intangible and other assets, net	20,060		29,555		126,451		(11,230		)	164,836
Intercompany receivables	536,382		14,818		633,678		(1,184,878		)	—
Long-term assets associated with discontinued operations	—		—		20,918		—			20,918
Total long-term assets	2,407,573		2,867,699		2,458,208		(4,727,454		)	3,006,026
Total assets	$	2,407,714	$	3,578,500	$	2,968,397	$	(4,727,454	)	$	4,227,157

LIABILITIES AND EQUITY

Current liabilities	$	2,963	$	369,829	$	264,681	$	—		$	637,473
Current liabilities associated with discontinued operations	—		—		3,233		—			3,233
Total current liabilities	2,963		369,829		267,914		—			640,706
Long-term debt	742,661		1,539		757,955		—			1,502,155
Intercompany payables	—		1,170,060		14,818		(1,184,878		)	—
Other long-term liabilities	—		185,941		95,710		(11,230		)	270,421
Long-term liabilities associated with discontinued operations	—		—		447		—			447
Total liabilities	745,624		1,727,369		1,136,844		(1,196,108		)	2,413,729
Total equity	1,662,090		1,851,131		1,831,553		(3,531,346		)	1,813,428
Total liabilities and equity	$	2,407,714	$	3,578,500	$	2,968,397	$	(4,727,454	)	$	4,227,157

Condensed Consolidating Statement of Operations and Comprehensive Income

Condensed Consolidating Statement of Operations and Comprehensive Income (Loss)

Year Ended December 31, 2014

(In thousands)

	Parent			Guarantor Subsidiaries			Other Subsidiaries			Eliminations			Consolidation
Revenues	$	—		$	1,468,314		$	1,652,704		$	(221,280	)	$	2,899,738
Costs of sales (excluding depreciation and amortization expense)	—			1,090,198			999,526			(221,280		)	1,868,444
Selling, general and administrative	241			174,950			202,563			—			377,754
Depreciation and amortization	—			140,071			246,000			—			386,071
Long-lived asset impairment	—			30,018			16,661			—			46,679
Restructuring charges	—			6,851			702			—			7,553
Interest expense	54,617			2,016			57,545			—			114,178
Intercompany charges, net	(35,998		)	39,874			(3,876		)	—			—
Equity in income of affiliates	(110,465		)	(145,917		)	(14,553		)	256,382			(14,553		)
Other (income) expense, net	40			3,364			(1,657		)	—			1,747
Income before income taxes	91,565			126,889			149,793			(256,382		)	111,865
Provision for (benefit from) income taxes	(6,601		)	16,424			48,834			—			58,657
Income from continuing operations	98,166			110,465			100,959			(256,382		)	53,208
Income from discontinued operations, net of tax	—			—			72,674			—			72,674
Net income	98,166			110,465			173,633			(256,382		)	125,882
Less: Net income attributable to the noncontrolling interest	—			—			(27,716		)	—			(27,716		)
Net income attributable to Exterran stockholders	98,166			110,465			145,917			(256,382		)	98,166
Other comprehensive loss attributable to Exterran stockholders	(14,213		)	(15,599		)	(14,941		)	30,540			(14,213		)
Comprehensive income attributable to Exterran stockholders	$	83,953		$	94,866		$	130,976		$	(225,842	)	$	83,953

Condensed Consolidating Statement of Operations and Comprehensive Income (Loss)

Year Ended December 31, 2013

(In thousands)

	Parent			Guarantor Subsidiaries			Other Subsidiaries			Eliminations			Consolidation
Revenues	$	—		$	1,890,064		$	1,555,835		$	(285,495	)	$	3,160,404
Costs of sales (excluding depreciation and amortization expense)	—			1,453,000			1,029,893			(285,495		)	2,197,398
Selling, general and administrative	252			176,210			181,711			—			358,173
Depreciation and amortization	—			130,478			197,027			—			327,505
Long-lived asset impairment	—			11,134			17,503			—			28,637
Interest expense	76,160			1,837			37,748			—			115,745
Intercompany charges, net	(35,126		)	32,232			2,894			—			—
Equity in income of affiliates	(150,351		)	(96,473		)	(19,000		)	246,824			(19,000		)
Other (income) expense, net	39			(17,635		)	(6,905		)	—			(24,501		)
Income before income taxes	109,026			199,281			114,964			(246,824		)	176,447
Provision for (benefit from) income taxes	(14,138		)	48,930			49,927			—			84,719
Income from continuing operations	123,164			150,351			65,037			(246,824		)	91,728
Income from discontinued operations, net of tax	—			—			64,014			—			64,014
Net income	123,164			150,351			129,051			(246,824		)	155,742
Less: Net income attributable to the noncontrolling interest	—			—			(32,578		)	—			(32,578		)
Net income attributable to Exterran stockholders	123,164			150,351			96,473			(246,824		)	123,164
Other comprehensive income attributable to Exterran stockholders	6,169			5,966			6,693			(12,659		)	6,169
Comprehensive income attributable to Exterran stockholders	$	129,333		$	156,317		$	103,166		$	(259,483	)	$	129,333

Condensed Consolidating Statement of Operations and Comprehensive Income (Loss)

Year Ended December 31, 2012

(In thousands)

	Parent			Guarantor Subsidiaries			Other Subsidiaries			Eliminations			Consolidation
Revenues	$	—		$	1,766,798		$	1,219,072		$	(191,624	)	$	2,794,246
Costs of sales (excluding depreciation and amortization expense)	—			1,393,194			763,268			(191,624		)	1,964,838
Selling, general and administrative	788			203,067			171,792			—			375,647
Depreciation and amortization	—			136,236			209,941			—			346,177
Long-lived asset impairment	—			100,617			35,997			—			136,614
Restructuring charges	—			4,019			2,452			—			6,471
Interest expense	99,236			9,551			25,589			—			134,376
Intercompany charges, net	(57,651		)	49,753			7,898			—			—
Equity in (income) loss of affiliates	11,744			(49,638		)	(51,483		)	37,894			(51,483		)
Other (income) expense, net	40			(9,848		)	10,314			—			506
Income (loss) before income taxes	(54,157		)	(70,153		)	43,304			(37,894		)	(118,900		)
Provision for (benefit from) income taxes	(14,671		)	(58,409		)	27,325			—			(45,755		)
Income (loss) from continuing operations	(39,486		)	(11,744		)	15,979			(37,894		)	(73,145		)
Income from discontinued operations, net of tax	—			—			35,976			—			35,976
Net income (loss)	(39,486		)	(11,744		)	51,955			(37,894		)	(37,169		)
Less: Net income attributable to the noncontrolling interest	—			—			(2,317		)	—			(2,317		)
Net income (loss) attributable to Exterran stockholders	(39,486		)	(11,744		)	49,638			(37,894		)	(39,486		)
Other comprehensive income attributable to Exterran stockholders	17,850			10,292			3,888			(14,180		)	17,850
Comprehensive income (loss) attributable to Exterran stockholders	$	(21,636	)	$	(1,452	)	$	53,526		$	(52,074	)	$	(21,636	)

Condensed Consolidating Statement of Cash Flows

Year Ended December 31, 2014

(In thousands)

	Parent			Guarantor Subsidiaries			Other Subsidiaries			Eliminations			Consolidation
Cash flows from operating activities:
Net cash provided by (used in) continuing operations	$	(9,613	)	$	146,923		$	236,470		$	—		$	373,780
Net cash provided by discontinued operations	—			—			5,589			—			5,589
Net cash provided by (used in) operating activities	(9,613		)	146,923			242,059			—			379,369
Cash flows from investing activities:
Capital expenditures	—			(152,847		)	(388,848		)	—			(541,695		)
Proceeds from sale of property, plant and equipment	—			9,767			14,606			—			24,373
Proceeds from sale of businesses	—			—			1,516			—			1,516
Payment for business acquisitions	—			(11,743		)	(483,012		)	—			(494,755		)
Capital distributions received from consolidated subsidiaries	—			55,489			—			(55,489		)	—
Increase in restricted cash	—			—			(221		)	—			(221		)
Return of investments in non-consolidated affiliates	—			—			14,750			—			14,750
Investment in consolidated subsidiaries	—			(17,423		)	—			17,423			—
Cash invested in non-consolidated affiliates	—			—			(197		)	—			(197		)
Return of investments in consolidated subsidiaries	262,754			—			—			(262,754		)	—
Net cash provided by (used in) continuing operations	262,754			(116,757		)	(841,406		)	(300,820		)	(996,229		)
Net cash provided by discontinued operations	—			—			66,378			—			66,378
Net cash provided by (used in) investing activities	262,754			(116,757		)	(775,028		)	(300,820		)	(929,851		)
Cash flows from financing activities:
Proceeds from borrowings of long-term debt	1,312,501			—			927,798			—			2,240,299
Repayments of long-term debt	(1,341,000		)	—			(386,500		)	—			(1,727,500		)
Payments for debt issuance costs	—			—			(6,986		)	—			(6,986		)
Payments above face value for redemption of convertible debt	(15,007		)	—			—			—			(15,007		)
Payments for settlement of interest rate swaps that include financing elements	—			—			(3,793		)	—			(3,793		)
Net proceeds from the sale of Partnership units	—			—			169,471			—			169,471
Proceeds from stock options exercised	12,819			—			—			—			12,819
Proceeds from stock issued pursuant to our employee stock purchase plan	1,812			—			—			—			1,812
Purchases of treasury stock	(7,044		)	—			—			—			(7,044		)
Dividends to Exterran stockholders	(40,319		)	—			—			—			(40,319		)
Stock-based compensation excess tax benefit	9,585			—			—			—			9,585
Distributions to noncontrolling partners in the Partnership	—			—			(130,345		)	55,489			(74,856		)
Net proceeds from sale of general partner units	—			—			3,573			(3,573		)	—
Capital distributions to affiliates	—			(262,754		)	—			262,754			—
Capital contributions received from parent	—			—			13,850			(13,850		)	—
Borrowings (repayments) between consolidated subsidiaries, net	(186,457		)	231,689			(45,232		)	—			—
Net cash provided by (used in) financing activities	(253,110		)	(31,065		)	541,836			300,820			558,481
Effect of exchange rate changes on cash and cash equivalents	—			—			(3,925		)	—			(3,925		)
Net increase (decrease) in cash and cash equivalents	31			(899		)	4,942			—			4,074
Cash and cash equivalents at beginning of period	11			1,554			34,100			—			35,665
Cash and cash equivalents at end of period	42			$	655		$	39,042		$	—		$	39,739

Condensed Consolidating Statement of Cash Flows

Year Ended December 31, 2013

(In thousands)

	Parent			Guarantor Subsidiaries			Other Subsidiaries			Eliminations			Consolidation
Cash flows from operating activities:
Net cash provided by (used in) continuing operations	$	(5,873	)	$	189,563		$	164,978		$	—		$	348,668
Net cash provided by discontinued operations	—			—			7,036			—			7,036
Net cash provided by (used in) operating activities	(5,873		)	189,563			172,014			—			355,704
Cash flows from investing activities:
Capital expenditures	—			(167,632		)	(231,431		)	7,338			(391,725		)
Proceeds from sale of property, plant and equipment	—			28,274			80,375			(7,338		)	101,311
Capital distributions received from consolidated subsidiaries	—			45,237			—			(45,237		)	—
Decrease in restricted cash	—			—			14			—			14
Return of investments in non-consolidated affiliates	—			—			19,000			—			19,000
Investment in consolidated subsidiaries	—			(25,180		)	—			25,180			—
Net cash used in continuing operations	—			(119,301		)	(132,042		)	(20,057		)	(271,400		)
Net cash provided by discontinued operations	—			—			74,949			—			74,949
Net cash used in investing activities	—			(119,301		)	(57,093		)	(20,057		)	(196,451		)
Cash flows from financing activities:
Proceeds from borrowings of long-term debt	1,102,500			—			1,005,537			—			2,108,037
Repayments of long-term debt	(1,267,250		)	—			(928,500		)	—			(2,195,750		)
Payments for debt issuance costs	—			—			(12,147		)	—			(12,147		)
Payments for settlement of interest rate swaps that include financing elements	—			—			(2,207		)	—			(2,207		)
Proceeds from stock options exercised	8,321			—			—			—			8,321
Proceeds from stock issued pursuant to our employee stock purchase plan	1,632			—			—			—			1,632
Purchases of treasury stock	(4,539		)	—			—			—			(4,539		)
Stock-based compensation excess tax benefit	1,910			—			—			—			1,910
Distributions to noncontrolling partners in the Partnership	—			—			(107,196		)	45,237			(61,959		)
Capital contributions received from parent	—			—			25,180			(25,180		)	—
Borrowings (repayments) between consolidated subsidiaries, net	163,286			(79,169		)	(84,117		)	—			—
Net cash provided by (used in) financing activities	5,860			(79,169		)	(103,450		)	20,057			(156,702		)
Effect of exchange rate changes on cash and cash equivalents	—			—			(1,487		)	—			(1,487		)
Net increase (decrease) in cash and cash equivalents	(13		)	(8,907		)	9,984			—			1,064
Cash and cash equivalents at beginning of period	24			10,461			24,116			—			34,601
Cash and cash equivalents at end of period	$	11		$	1,554		$	34,100		$	—		$	35,665

Condensed Consolidating Statement of Cash Flows

Year Ended December 31, 2012

(In thousands)

	Parent			Guarantor Subsidiaries			Other Subsidiaries			Eliminations			Consolidation
Cash flows from operating activities:
Net cash provided by (used in) continuing operations	$	(6,877	)	$	127,305		$	262,834		$	—		$	383,262
Net cash provided by discontinued operations	—			—			6,663			—			6,663
Net cash provided by (used in) operating activities	(6,877		)	127,305			269,497			—			389,925
Cash flows from investing activities:
Capital expenditures	—			(205,356		)	(223,375		)	—			(428,731		)
Contract operations acquisition	—			77,415			(77,415		)	—			—
Proceeds from sale of property, plant and equipment	—			14,511			21,478			—			35,989
Capital distributions received from consolidated subsidiaries	—			30,782			—			(30,782		)	—
Increase in restricted cash	—			—			(162		)	—			(162		)
Return of investments in non-consolidated affiliates	—			—			51,707			—			51,707
Cash invested in non-consolidated affiliates	—			—			(224		)	—			(224		)
Investment in consolidated subsidiaries	—			(27,184		)	—			27,184			—
Net cash used in continuing operations	—			(109,832		)	(227,991		)	(3,598		)	(341,421		)
Net cash provided by discontinued operations	—			—			135,970			—			135,970
Net cash used in investing activities	—			(109,832		)	(92,021		)	(3,598		)	(205,451		)
Cash flows from financing activities:
Proceeds from borrowings of long-term debt	1,164,000			—			714,000			—			1,878,000
Repayments of long-term debt	(1,422,150		)	—			(684,489		)	—			(2,106,639		)
Payments for debt issuance costs	—			—			(1,011		)	—			(1,011		)
Net proceeds from the sale of Partnership units	—			—			114,530			—			114,530
Proceeds from stock options exercised	562			—			—			—			562
Proceeds from stock issued pursuant to our employee stock purchase plan	1,635			—			—			—			1,635
Purchases of treasury stock	(2,422		)	—			—			—			(2,422		)
Stock-based compensation excess tax benefit	1,139			—			—			—			1,139
Distributions to noncontrolling partners in the Partnership	—			—			(87,866		)	30,782			(57,084		)
Net proceeds from sale of general partner units	—			—			2,426			(2,426		)	—
Capital contributions received from parent	—			—			24,758			(24,758		)	—
Borrowings (repayments) between consolidated subsidiaries, net	264,044			(9,822		)	(254,222		)	—			—
Net cash provided by (used in) financing activities	6,808			(9,822		)	(171,874		)	3,598			(171,290		)
Effect of exchange rate changes on cash and cash equivalents	—			—			(486		)	—			(486		)
Net increase (decrease) in cash and cash equivalents	(69		)	7,651			5,116			—			12,698
Cash and cash equivalents at beginning of period	93			2,810			19,000			—			21,903
Cash and cash equivalents at end of period	$	24		$	10,461		$	24,116		$	—		$	34,601