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Supplemental Guarantor Financial Information (Tables) | 3 Months Ended
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Mar. 31, 2015
Supplemental Guarantor Financial Information |
Condensed Consolidating Balance Sheet | Condensed Consolidating Balance Sheet March 31, 2015 (In thousands)
|  | Parent |  | Guarantor Subsidiaries |  | Other Subsidiaries |  | Eliminations |  | Consolidation |
ASSETS |  |  |  |  |  |  |  |  |  |  |
Current assets |  | $ | 4,951 |  | $ | 626,161 |  | $ | 624,415 |  | $ | — |  | $ | 1,255,527 |
Current assets associated with discontinued operations |  | — |  | — |  | 453 |  | — |  | 453 |
Total current assets |  | 4,951 |  | 626,161 |  | 624,868 |  | — |  | 1,255,980 |
Property, plant and equipment, net |  | — |  | 1,124,005 |  | 2,210,156 |  | — |  | 3,334,161 |
Investments in affiliates |  | 1,799,536 |  | 1,689,947 |  | — |  | (3,489,483 | ) | — |
Goodwill |  | — |  | — |  | 3,738 |  | — |  | 3,738 |
Intangible and other assets, net |  | 5,379 |  | 33,015 |  | 194,265 |  | — |  | 232,659 |
Intercompany receivables |  | 712,765 |  | 11,758 |  | 516,276 |  | (1,240,799 | ) | — |
Total long-term assets |  | 2,517,680 |  | 2,858,725 |  | 2,924,435 |  | (4,730,282 | ) | 3,570,558 |
Total assets |  | $ | 2,522,631 |  | $ | 3,484,886 |  | $ | 3,549,303 |  | $ | (4,730,282 | ) | $ | 4,826,538 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |  |  |  |  |
Current liabilities |  | $ | 8,901 |  | $ | 302,920 |  | $ | 258,195 |  | $ | — |  | $ | 570,016 |
Current liabilities associated with discontinued operations |  | — |  | — |  | 1,771 |  | — |  | 1,771 |
Total current liabilities |  | 8,901 |  | 302,920 |  | 259,966 |  | — |  | 571,787 |
Long-term debt |  | 704,000 |  | 994 |  | 1,342,581 |  | — |  | 2,047,575 |
Intercompany payables |  | — |  | 1,229,041 |  | 11,758 |  | (1,240,799 | ) | — |
Other long-term liabilities |  | — |  | 152,395 |  | 102,860 |  | — |  | 255,255 |
Long-term liabilities associated with discontinued operations |  | — |  | — |  | 340 |  | — |  | 340 |
Total liabilities |  | 712,901 |  | 1,685,350 |  | 1,717,505 |  | (1,240,799 | ) | 2,874,957 |
Total equity |  | 1,809,730 |  | 1,799,536 |  | 1,831,798 |  | (3,489,483 | ) | 1,951,581 |
Total liabilities and equity |  | $ | 2,522,631 |  | $ | 3,484,886 |  | $ | 3,549,303 |  | $ | (4,730,282 | ) | $ | 4,826,538 |
Condensed Consolidating Balance Sheet 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 Statement of Operations and Comprehensive Income | Condensed Consolidating Statement of Operations and Comprehensive Income Three Months Ended March 31, 2015 (In thousands)
|  | Parent |  | Guarantor Subsidiaries |  | Other Subsidiaries |  | Eliminations |  | Consolidation |
Revenues |  | $ | — |  | $ | 372,777 |  | $ | 416,988 |  | $ | (60,683 | ) | $ | 729,082 |
Costs of sales (excluding depreciation and amortization expense) |  | — |  | 278,108 |  | 242,645 |  | (60,683 | ) | 460,070 |
Selling, general and administrative |  | 63 |  | 40,352 |  | 46,271 |  | — |  | 86,686 |
Depreciation and amortization |  | — |  | 32,433 |  | 63,375 |  | — |  | 95,808 |
Long-lived asset impairment |  | — |  | 7,847 |  | 4,885 |  | — |  | 12,732 |
Restructuring charges |  | — |  | 4,790 |  | — |  | — |  | 4,790 |
Interest expense |  | 9,321 |  | 107 |  | 17,870 |  | — |  | 27,298 |
Intercompany charges, net |  | (8,734 | ) | 7,792 |  | 942 |  | — |  | — |
Equity in income of affiliates |  | (32,575 | ) | (37,687 | ) | (5,006 | ) | 70,262 |  | (5,006 | )
Other (income) expense, net |  | 10 |  | 791 |  | 7,040 |  | — |  | 7,841 |
Income before income taxes |  | 31,915 |  | 38,244 |  | 38,966 |  | (70,262 | ) | 38,863 |
Provision for (benefit from) income taxes |  | (227 | ) | 5,669 |  | 11,049 |  | — |  | 16,491 |
Income from continuing operations |  | 32,142 |  | 32,575 |  | 27,917 |  | (70,262 | ) | 22,372 |
Income from discontinued operations, net of tax |  | — |  | — |  | 18,713 |  | — |  | 18,713 |
Net income |  | 32,142 |  | 32,575 |  | 46,630 |  | (70,262 | ) | 41,085 |
Less: Net income attributable to the noncontrolling interest |  | — |  | — |  | (8,943 | ) | — |  | (8,943 | )
Net income attributable to Exterran stockholders |  | 32,142 |  | 32,575 |  | 37,687 |  | (70,262 | ) | 32,142 |
Other comprehensive loss attributable to Exterran stockholders |  | (11,404 | ) | (12,308 | ) | (12,117 | ) | 24,425 |  | (11,404 | )
Comprehensive income attributable to Exterran stockholders |  | $ | 20,738 |  | $ | 20,267 |  | $ | 25,570 |  | $ | (45,837 | ) | $ | 20,738 |
Condensed Consolidating Statement of Operations and Comprehensive Income Three Months Ended March 31, 2014 (In thousands)
|  | Parent |  | Guarantor Subsidiaries |  | Other Subsidiaries |  | Eliminations |  | Consolidation |
Revenues |  | $ | — |  | $ | 340,903 |  | $ | 346,638 |  | $ | (44,533 | ) | $ | 643,008 |
Costs of sales (excluding depreciation and amortization expense) |  | — |  | 245,916 |  | 208,139 |  | (44,533 | ) | 409,522 |
Selling, general and administrative |  | 46 |  | 45,812 |  | 46,720 |  | — |  | 92,578 |
Depreciation and amortization |  | — |  | 35,407 |  | 50,115 |  | — |  | 85,522 |
Long-lived asset impairment |  | — |  | 1,321 |  | 2,486 |  | — |  | 3,807 |
Restructuring charges |  | — |  | 4,443 |  | 379 |  | — |  | 4,822 |
Interest expense |  | 18,480 |  | 258 |  | 9,570 |  | — |  | 28,308 |
Intercompany charges, net |  | (8,963 | ) | 8,243 |  | 720 |  | — |  | — |
Equity in income of affiliates |  | (38,822 | ) | (42,431 | ) | (4,693 | ) | 81,253 |  | (4,693 | )
Other (income) expense, net |  | 10 |  | 595 |  | (3,039 | ) | — |  | (2,434 | )
Income before income taxes |  | 29,249 |  | 41,339 |  | 36,241 |  | (81,253 | ) | 25,576 |
Provision for (benefit from) income taxes |  | (3,347 | ) | 2,517 |  | 10,239 |  | — |  | 9,409 |
Income from continuing operations |  | 32,596 |  | 38,822 |  | 26,002 |  | (81,253 | ) | 16,167 |
Income from discontinued operations, net of tax |  | — |  | — |  | 18,727 |  | — |  | 18,727 |
Net income |  | 32,596 |  | 38,822 |  | 44,729 |  | (81,253 | ) | 34,894 |
Less: Net income attributable to the noncontrolling interest |  | — |  | — |  | (2,298 | ) | — |  | (2,298 | )
Net income attributable to Exterran stockholders |  | 32,596 |  | 38,822 |  | 42,431 |  | (81,253 | ) | 32,596 |
Other comprehensive income attributable to Exterran stockholders |  | 1,318 |  | 998 |  | 1,153 |  | (2,151 | ) | 1,318 |
Comprehensive income attributable to Exterran stockholders |  | $ | 33,914 |  | $ | 39,820 |  | $ | 43,584 |  | $ | (83,404 | ) | $ | 33,914 |
Condensed Consolidating Statement of Cash Flows | Condensed Consolidating Statement of Cash Flows Three Months Ended March 31, 2015 (In thousands)
|  | Parent |  | Guarantor Subsidiaries |  | Other Subsidiaries |  | Eliminations |  | Consolidation |
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |
Net cash provided by continuing operations |  | $ | 4,465 |  | $ | 23,727 |  | $ | 104,276 |  | $ | — |  | $ | 132,468 |
Net cash provided by discontinued operations |  | — |  | — |  | 2,166 |  | — |  | 2,166 |
Net cash provided by operating activities |  | 4,465 |  | 23,727 |  | 106,442 |  | — |  | 134,634 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | — |  | (39,963 | ) | (99,820 | ) | — |  | (139,783 | )
Proceeds from sale of property, plant and equipment |  | — |  | 982 |  | 7,928 |  | — |  | 8,910 |
Capital distributions received from consolidated subsidiaries |  | — |  | 15,178 |  | — |  | (15,178 | ) | — |
Return of investments in non-consolidated affiliates |  | — |  | — |  | 5,006 |  | — |  | 5,006 |
Return of investments in consolidated subsidiaries |  | 10,340 |  | — |  | — |  | (10,340 | ) | — |
Net cash provided by (used in) continuing operations |  | 10,340 |  | (23,803 | ) | (86,886 | ) | (25,518 | ) | (125,867 | )
Net cash provided by discontinued operations |  | — |  | — |  | 16,530 |  | — |  | 16,530 |
Net cash provided by (used in) investing activities |  | 10,340 |  | (23,803 | ) | (70,356 | ) | (25,518 | ) | (109,337 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |
Proceeds from borrowings of long-term debt |  | 277,000 |  | — |  | 140,000 |  | — |  | 417,000 |
Repayments of long-term debt |  | (298,500 | ) | — |  | (98,000 | ) | — |  | (396,500 | )
Payments for debt issuance costs |  | — |  | — |  | (1,311 | ) | — |  | (1,311 | )
Payments for settlement of interest rate swaps that include financing elements |  | — |  | — |  | (942 | ) | — |  | (942 | )
Proceeds from stock options exercised |  | 572 |  | — |  | — |  | — |  | 572 |
Proceeds from stock issued pursuant to our employee stock purchase plan |  | 419 |  | — |  | — |  | — |  | 419 |
Purchases of treasury stock |  | (3,678 | ) | — |  | — |  | — |  | (3,678 | )
Dividends to Exterran stockholders |  | (10,340 | ) | — |  | — |  | — |  | (10,340 | )
Stock-based compensation excess tax benefit |  | 2,131 |  | — |  | — |  | — |  | 2,131 |
Distributions to noncontrolling partners in the Partnership |  | — |  | — |  | (35,323 | ) | 15,178 |  | (20,145 | )
Capital distributions to affiliates |  | — |  | (10,340 | ) | — |  | 10,340 |  | — |
Borrowings (repayments) between consolidated subsidiaries, net |  | 17,647 |  | 12,432 |  | (30,079 | ) | — |  | — |
Net cash provided by (used in) financing activities |  | (14,749 | ) | 2,092 |  | (25,655 | ) | 25,518 |  | (12,794 | )
Effect of exchange rate changes on cash and cash equivalents |  | — |  | — |  | (231 | ) | — |  | (231 | )
Net increase in cash and cash equivalents |  | 56 |  | 2,016 |  | 10,200 |  | — |  | 12,272 |
Cash and cash equivalents at beginning of period |  | 42 |  | 655 |  | 39,042 |  | — |  | 39,739 |
Cash and cash equivalents at end of period |  | $ | 98 |  | $ | 2,671 |  | $ | 49,242 |  | $ | — |  | $ | 52,011 |
Condensed Consolidating Statement of Cash Flows Three Months Ended March 31, 2014 (In thousands)
|  | Parent |  | Guarantor Subsidiaries |  | Other Subsidiaries |  | Eliminations |  | Consolidation |
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |
Net cash provided by (used in) continuing operations |  | $ | 4,856 |  | $ | (20,344 | ) | $ | 68,341 |  | $ | — |  | $ | 52,853 |
Net cash provided by discontinued operations |  | — |  | — |  | 1,039 |  | — |  | 1,039 |
Net cash provided by (used in) operating activities |  | 4,856 |  | (20,344 | ) | 69,380 |  | — |  | 53,892 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | — |  | (32,264 | ) | (66,950 | ) | — |  | (99,214 | )
Proceeds from sale of property, plant and equipment |  | — |  | 5,490 |  | 5,373 |  | — |  | 10,863 |
Escrow deposit for business acquisition |  | — |  | — |  | (17,000 | ) | — |  | (17,000 | )
Capital distributions received from consolidated subsidiaries |  | — |  | 12,971 |  | — |  | (12,971 | ) | — |
Return of investments in non-consolidated affiliates |  | — |  | — |  | 4,890 |  | — |  | 4,890 |
Investment in consolidated subsidiaries |  | — |  | (6,156 | ) | — |  | 6,156 |  | — |
Cash invested in non-consolidated affiliates |  | — |  | — |  | (197 | ) | — |  | (197 | )
Return of investments in consolidated subsidiaries |  | 7,481 |  | — |  | — |  | (7,481 | ) | — |
Net cash provided by (used in) continuing operations |  | 7,481 |  | (19,959 | ) | (73,884 | ) | (14,296 | ) | (100,658 | )
Net cash provided by discontinued operations |  | — |  | — |  | 16,726 |  | — |  | 16,726 |
Net cash provided by (used in) investing activities |  | 7,481 |  | (19,959 | ) | (57,158 | ) | (14,296 | ) | (83,932 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |
Proceeds from borrowings of long-term debt |  | 241,500 |  | — |  | 91,000 |  | — |  | 332,500 |
Repayments of long-term debt |  | (208,000 | ) | — |  | (47,500 | ) | — |  | (255,500 | )
Payments for settlement of interest rate swaps that include financing elements |  | — |  | — |  | (913 | ) | — |  | (913 | )
Proceeds from stock options exercised |  | 8,520 |  | — |  | — |  | — |  | 8,520 |
Proceeds from stock issued pursuant to our employee stock purchase plan |  | 404 |  | — |  | — |  | — |  | 404 |
Purchases of treasury stock |  | (5,349 | ) | — |  | — |  | — |  | (5,349 | )
Dividends to Exterran stockholders |  | (9,989 | ) | — |  | — |  | — |  | (9,989 | )
Stock-based compensation excess tax benefit |  | 6,470 |  | — |  | — |  | — |  | 6,470 |
Distributions to noncontrolling partners in the Partnership |  | — |  | — |  | (28,840 | ) | 12,971 |  | (15,869 | )
Capital distributions to affiliates |  | — |  | (7,481 | ) | — |  | 7,481 |  | — |
Capital contributions received from consolidated subsidiaries |  | — |  | — |  | 6,156 |  | (6,156 | ) | — |
Borrowings (repayments) between consolidated subsidiaries, net |  | (45,862 | ) | 48,373 |  | (2,511 | ) | — |  | — |
Net cash provided by (used in) financing activities |  | (12,306 | ) | 40,892 |  | 17,392 |  | 14,296 |  | 60,274 |
Effect of exchange rate changes on cash and cash equivalents |  | — |  | — |  | (4,409 | ) | — |  | (4,409 | )
Net increase in cash and cash equivalents |  | 31 |  | 589 |  | 25,205 |  | — |  | 25,825 |
Cash and cash equivalents at beginning of period |  | 11 |  | 1,554 |  | 34,100 |  | — |  | 35,665 |
Cash and cash equivalents at end of period |  | $ | 42 |  | $ | 2,143 |  | $ | 59,305 |  | $ | — |  | $ | 61,490 |

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