Supplemental Guarantor Financial Information (Tables)

3 Months Ended

Mar. 31, 2015

Supplemental Guarantor Financial Information

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

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

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