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Subsequent Events | 9 Months Ended
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Sep. 30, 2015
Subsequent Events [Abstract] |
Subsequent Events | 21. Subsequent Events On October 5, 2015, we and our wholly owned subsidiary, Archrock Services, L.P., amended the terms of the Archrock Credit Agreement to increase the borrowing capacity from $300.0 million to $350.0 million. Availability under the Archrock Credit Facility was subject to the satisfaction of certain conditions precedent, including (i) the payoff and termination of our existing Credit Facility and (ii) the consummation of the Spin-off on or before January 4, 2016 (the date on which those conditions are satisfied is referred to as the “Archrock Initial Availability Date”). As a result of the completion of the Spin-off, the Archrock Initial Availability Date was November 3, 2015. See Note 2 and discussion below for additional information regarding the Spin-off. On October 5, 2015, EESLP and Exterran Corporation amended and restated the Exterran Corporation Credit Agreement to provide for a new $925.0 million credit facility, consisting of a $680.0 million revolving credit facility and a $245.0 million term loan facility. Availability under the Exterran Corporation Credit Facility was subject to the satisfaction of certain conditions precedent, including the consummation of the Spin-off on or before January 4, 2016 (the date on which those conditions are satisfied is referred to as the “Initial Availability Date”). As a result of the completion of the Spin-off, the Initial Availability Date was November 3, 2015. See Note 2 and discussion below for additional information regarding the Spin-off. In October 2015, we received an additional installment payment, including an annual charge, of $19.1 million from PDVSA Gas relating to the 2012 sale of our Venezuelan subsidiary’s previously nationalized assets. As we have not recognized amounts payable to us by PDVSA Gas relating to the 2012 sale of our Venezuelan subsidiary’s previously nationalized assets as a receivable but rather as income from discontinued operations in the periods such payments are received, the installment payment received in October 2015 will be recognized as income from discontinued operations in the fourth quarter of 2015. On November 3, 2015, we completed the Spin-off of our international contract operations, international aftermarket services and global fabrication businesses into an independent, publicly traded company. Upon the completion of the Spin-off, we and Exterran Corporation are independent, publicly traded companies with separate public ownership, boards of directors and management, and we continue to own and operate the U.S. contract operations and U.S. aftermarket services businesses that we previously owned. Effective on November 3, 2015, we were renamed Archrock, Inc. and beginning on November 4, 2015 we trade on the New York Stock exchange under the symbol “AROC.” Additionally, we continue to hold interests in the Partnership, which include the sole general partner interest and certain limited partner interests, as well as all of the incentive distribution rights in the Partnership. Effective on November 3, 2015, the Partnership was renamed Archrock Partners, L.P. and trades on the Nasdaq Global Select Market under the symbol “APLP.” To effect the Spin-off, we distributed on the Distribution Date, on a pro rata basis, all of the shares of Exterran Corporation common stock to our stockholders as of the Record Date. Exterran Holdings shareholders received one share of Exterran Corporation common stock for every two shares of our common stock held at the close of business on the Record Date. Financial results of Exterran Corporation prior to the Spin-off will be reported as discontinued operations beginning in our Annual Report on Form 10-K for the year ending December 31, 2015. In connection with the completion of the Spin-off, we received $532.6 million from subsidiaries of Exterran Corporation in accordance with the separation and distribution agreement. On November 3, 2015, we terminated our existing Credit Facility and repaid all borrowings and accrued and unpaid interest outstanding on the repayment date. On November 4, 2015, we called the principal amount and accrued and unpaid interest outstanding under our 7.25% Notes. The cash received from Exterran Corporation and borrowings under our Archrock Credit Facility were used to repay the outstanding borrowings and accrued but unpaid interest on our existing Credit Facility and will be used to redeem our 7.25% Notes, which are expected to be redeemed 30 days after the call date.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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