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v3.6.0.2

Restatement of Previously Reported Consolidated Financial Statements (Tables) | 6 Months Ended
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Jun. 30, 2016
Accounting Changes and Error Corrections [Abstract] |
Schedule of Quantifying Prior Year Misstatements Corrected in Current Year Financial Statements | The effects of the restatement on our condensed consolidated balance sheet as of December 31, 2015 and January 1, 2016 are set forth in the following table (in thousands):
| December 31, 2015 and January 1, 2016
| As Previously Reported |  | Restatement Adjustments |  | As Restated
Additional paid-in capital | $ | 2,820,958 |  |  | 123,939 |  |  | $ | 2,944,897 |
Accumulated deficit | (2,013,799 | ) |  | (123,939 | ) |  | (2,137,738 | )
The effects of the restatement on our condensed consolidated statements of operations for the three and six months ended June 30, 2015 are set forth in the following table (in thousands, except per share amounts):
| Three Months Ended June 30, 2015 |  | Six Months Ended June 30, 2015
| As Previously Reported |  | Restatement Adjustments |  | Reclassification Adjustments(1) |  | As Restated and Reclassified |  | As Previously Reported |  | Restatement Adjustments |  | Reclassification Adjustments(1) |  | As Restated and Reclassified
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America contract operations | $ | 198,259 |  |  | $ | — |  |  | $ | — |  |  | $ | 198,259 |  |  | $ | 400,520 |  |  | $ | — |  |  | $ | — |  |  | $ | 400,520 |
International contract operations | 115,250 |  |  | — |  |  | (115,250 | ) |  | — |  |  | 235,941 |  |  | — |  |  | (235,941 | ) |  | — |
Aftermarket services | 90,834 |  |  | — |  |  | (34,031 | ) |  | 56,803 |  |  | 177,690 |  |  | — |  |  | (70,275 | ) |  | 107,415 |
Fabrication | 279,489 |  |  | (5,344 | ) |  | (274,145 | ) |  | — |  |  | 598,763 |  |  | (12,276 | ) |  | (586,487 | ) |  | — |
| 683,832 |  |  | (5,344 | ) |  | (423,426 | ) |  | 255,062 |  |  | 1,412,914 |  |  | (12,276 | ) |  | (892,703 | ) |  | 507,935 |
Costs and expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of sales (excluding depreciation and amortization expense): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America contract operations | 81,221 |  |  | — |  |  | — |  |  | 81,221 |  |  | 163,900 |  |  | — |  |  | — |  |  | 163,900 |
International contract operations | 44,745 |  |  | — |  |  | (44,745 | ) |  | — |  |  | 89,084 |  |  | — |  |  | (89,084 | ) |  | — |
Aftermarket services | 70,171 |  |  | — |  |  | (24,327 | ) |  | 45,844 |  |  | 136,105 |  |  | — |  |  | (49,484 | ) |  | 86,621 |
Fabrication | 240,854 |  |  | 16,590 |  |  | (257,444 | ) |  | — |  |  | 507,972 |  |  | 10,503 |  |  | (518,475 | ) |  | — |
Selling, general and administrative | 83,874 |  |  | — |  |  | (52,517 | ) |  | 31,357 |  |  | 170,560 |  |  | — |  |  | (106,635 | ) |  | 63,925 |
Depreciation and amortization | 94,325 |  |  | 97 |  |  | (36,883 | ) |  | 57,539 |  |  | 190,133 |  |  | 194 |  |  | (75,775 | ) |  | 114,552 |
Long-lived asset impairment | 15,420 |  |  | — |  |  | (5,910 | ) |  | 9,510 |  |  | 28,152 |  |  | — |  |  | (10,489 | ) |  | 17,663 |
Restructuring and other charges | 19,604 |  |  | — |  |  | (18,411 | ) |  | 1,193 |  |  | 24,394 |  |  | — |  |  | (23,201 | ) |  | 1,193 |
Interest expense | 28,398 |  |  | — |  |  | (319 | ) |  | 28,079 |  |  | 55,696 |  |  | — |  |  | (826 | ) |  | 54,870 |
Equity in income of non-consolidated affiliates | (5,062 | ) |  | — |  |  | 5,062 |  |  | — |  |  | (10,068 | ) |  | — |  |  | 10,068 |  |  | — |
Other income, net | 1,005 |  |  | (63 | ) |  | (3,424 | ) |  | (2,482 | ) |  | 8,846 |  |  | (961 | ) |  | (10,917 | ) |  | (3,032 | )
| 674,555 |  |  | 16,624 |  |  | (438,918 | ) |  | 252,261 |  |  | 1,364,774 |  |  | 9,736 |  |  | (874,818 | ) |  | 499,692 |
Income before income taxes | 9,277 |  |  | (21,968 | ) |  | 15,492 |  |  | 2,801 |  |  | 48,140 |  |  | (22,012 | ) |  | (17,885 | ) |  | 8,243 |
Provision for (benefit from) income taxes | 1,742 |  |  | 819 |  |  | (4,090 | ) |  | (1,529 | ) |  | 18,233 |  |  | 1,890 |  |  | (22,392 | ) |  | (2,269 | )
Income from continuing operations | 7,535 |  |  | (22,787 | ) |  | 19,582 |  |  | 4,330 |  |  | 29,907 |  |  | (23,902 | ) |  | 4,507 |  |  | 10,512 |
Income (loss) from discontinued operations, net of tax | 254 |  |  | — |  |  | (19,582 | ) |  | (19,328 | ) |  | 18,967 |  |  | — |  |  | (4,507 | ) |  | 14,460 |
Net income (loss) | 7,789 |  |  | (22,787 | ) |  | — |  |  | (14,998 | ) |  | 48,874 |  |  | (23,902 | ) |  | — |  |  | 24,972 |
Less: Net income attributable to the noncontrolling interest | (9,178 | ) |  | — |  |  | — |  |  | (9,178 | ) |  | (18,121 | ) |  | — |  |  | — |  |  | (18,121 | )
Net income (loss) attributable to Archrock stockholders | $ | (1,389 | ) |  | $ | (22,787 | ) |  | $ | — |  |  | $ | (24,176 | ) |  | $ | 30,753 |  |  | $ | (23,902 | ) |  | $ | — |  |  | $ | 6,851 |
Basic income (loss) per common share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income (loss) from continuing operations attributable to Archrock common stockholders | $ | (0.03 | ) |  | $ | (0.33 | ) |  | $ | 0.29 |  |  | $ | (0.07 | ) |  | $ | 0.17 |  |  | $ | (0.35 | ) |  | $ | 0.07 |  |  | $ | (0.11 | )
Income (loss) from discontinued operations attributable to Archrock common stockholders | 0.01 |  |  | — |  |  | (0.29 | ) |  | (0.28 | ) |  | 0.27 |  |  | — |  |  | (0.06 | ) |  | 0.21 |
Net income (loss) attributable to Archrock common stockholders | $ | (0.02 | ) |  | $ | (0.33 | ) |  | $ | — |  |  | $ | (0.35 | ) |  | $ | 0.44 |  |  | $ | (0.35 | ) |  | $ | 0.01 |  |  | $ | 0.10 |
Diluted income (loss) per common share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income (loss) from continuing operations attributable to Archrock common stockholders | $ | (0.03 | ) |  | $ | (0.33 | ) |  | $ | 0.29 |  |  | $ | (0.07 | ) |  | $ | 0.17 |  |  | $ | (0.35 | ) |  | $ | 0.07 |  |  | $ | (0.11 | )
Income (loss) from discontinued operations attributable to Archrock common stockholders | 0.01 |  |  | — |  |  | (0.29 | ) |  | (0.28 | ) |  | 0.27 |  |  | — |  |  | (0.06 | ) |  | 0.21 |
Net income (loss) attributable to Archrock common stockholders | $ | (0.02 | ) |  | $ | (0.33 | ) |  | $ | — |  |  | $ | (0.35 | ) |  | $ | 0.44 |  |  | $ | (0.35 | ) |  | $ | 0.01 |  |  | $ | 0.10 |
Weighted average common shares outstanding used in income (loss) per common share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic | 68,514 |  |  | — |  |  | — |  |  | 68,514 |  |  | 68,381 |  |  | — |  |  | — |  |  | 68,381 |
Diluted | 68,514 |  |  | — |  |  | — |  |  | 68,514 |  |  | 68,667 |  |  | — |  |  | (286 | ) |  | 68,381 |
Dividends declared and paid per common share | $ | 0.15 |  |  | $ | — |  |  | $ | — |  |  | $ | 0.15 |  |  | $ | 0.30 |  |  | $ | — |  |  | $ | — |  |  | $ | 0.30 |
(1) | As discussed in Note 3, in November 2015, we completed the Spin-off of our international contract operations, international aftermarket services and global fabrication businesses into a standalone public company operating as Exterran Corporation. The results of these businesses have been reclassified to discontinued operations in our financial statements for all periods presented.
The effects of the restatement on our condensed consolidated statements of comprehensive income (loss) for the three and six months ended June 30, 2015 are set forth in the following table (in thousands):
| Three Months Ended June 30, 2015 |  | Six Months Ended June 30, 2015
| As Previously Reported |  | Restatement Adjustments |  | As Restated |  | As Previously Reported |  | Restatement Adjustments |  | As Restated
Net income (loss) | $ | 7,789 |  |  | $ | (22,787 | ) |  | $ | (14,998 | ) |  | $ | 48,874 |  |  | $ | (23,902 | ) |  | $ | 24,972 |
Other comprehensive income (loss), net of tax: |  |  |  |  |  |  |  |  |  |  |
Derivative gain (loss), net of reclassifications to earnings | 1,422 |  |  | — |  |  | 1,422 |  |  | (3,228 | ) |  | — |  |  | (3,228 | )
Adjustments from changes in ownership of Partnership | (223 | ) |  | — |  |  | (223 | ) |  | (223 | ) |  | — |  |  | (223 | )
Amortization of terminated interest rate swaps | 590 |  |  | — |  |  | 590 |  |  | 1,225 |  |  | — |  |  | 1,225 |
Foreign currency translation adjustment | 3,659 |  |  | (334 | ) |  | 3,325 |  |  | (6,703 | ) |  | 2,283 |  |  | (4,420 | )
Total other comprehensive income (loss) | 5,448 |  |  | (334 | ) |  | 5,114 |  |  | (8,929 | ) |  | 2,283 |  |  | (6,646 | )
Comprehensive income (loss) | 13,237 |  |  | (23,121 | ) |  | (9,884 | ) |  | 39,945 |  |  | (21,619 | ) |  | 18,326 |
Less: Comprehensive income attributable to the noncontrolling interest | (10,838 | ) |  | — |  |  | (10,838 | ) |  | (16,808 | ) |  | — |  |  | (16,808 | )
Comprehensive income (loss) attributable to Archrock stockholders | $ | 2,399 |  |  | $ | (23,121 | ) |  | $ | (20,722 | ) |  | $ | 23,137 |  |  | $ | (21,619 | ) |  | $ | 1,518 |
The effects of the restatement on our condensed consolidated statement of equity as of June 30, 2015 are set forth in the following table (in thousands):
| June 30, 2015
| As Previously Reported |  | Restatement Adjustments |  | As Restated
Accumulated Other Comprehensive Income |  |  |  |  |
Balance at January 1, 2015 | 15,865 |  |  | 9,969 |  |  | 25,834 |
Comprehensive loss | (7,616 | ) |  | 2,283 |  |  | (5,333 | )
Balance at June 30, 2015 | 8,249 |  |  | 12,252 |  |  | 20,501 |
Accumulated Deficit |  |  |  |  |
Balance at January 1, 2015 | (1,866,397 | ) |  | (97,208 | ) |  | (1,963,605 | )
Comprehensive income | 30,753 |  |  | (23,902 | ) |  | 6,851 |
Balance at June 30, 2015 | (1,856,387 | ) |  | (121,110 | ) |  | (1,977,497 | )
Total |  |  |  |  |
Balance at January 1, 2015 | 1,953,045 |  |  | (87,239 | ) |  | 1,865,806 |
Comprehensive income | 39,945 |  |  | (21,619 | ) |  | 18,326 |
Balance at June 30, 2015 | 1,931,522 |  |  | (108,858 | ) |  | 1,822,664 |
The effects of the restatement on our condensed consolidated statement of cash flows for the six months ended June 30, 2015 are set forth in the following table (in thousands):
| Six Months Ended June 30, 2015
| As Previously Reported |  | Restatement Adjustments |  | Reclassification Adjustments(1) |  | As Restated and Reclassified
Cash flows from operating activities: |  |  |  |  |  |  |
Net income | $ | 48,874 |  |  | $ | (23,902 | ) |  | $ | — |  |  | $ | 24,972 |
Adjustments to reconcile net income to cash provided by operating activities: |  |  |  |  |  |  |
Depreciation and amortization | 190,133 |  |  | 194 |  |  | (75,775 | ) |  | 114,552 |
Long-lived asset impairment | 28,152 |  |  | — |  |  | (10,489 | ) |  | 17,663 |
Amortization of deferred financing costs | 3,127 |  |  | — |  |  | — |  |  | 3,127 |
Income from discontinued operations, net of tax | (18,967 | ) |  | — |  |  | 4,507 |  |  | (14,460 | )
Amortization of debt discount | 576 |  |  | — |  |  | — |  |  | 576 |
Provision for doubtful accounts | 1,496 |  |  | — |  |  | (1,174 | ) |  | 322 |
Gain on sale of property, plant and equipment | (2,891 | ) |  | — |  |  | 1,046 |  |  | (1,845 | )
Equity in income of non-consolidated affiliates | (10,068 | ) |  | — |  |  | 10,068 |  |  | — |
Amortization of terminated interest rate swaps | 1,884 |  |  | — |  |  | — |  |  | 1,884 |
Interest rate swaps | (7 | ) |  | — |  |  | — |  |  | (7 | )
Loss on remeasurement of intercompany balances | 7,999 |  |  | — |  |  | (7,999 | ) |  | — |
Stock-based compensation expense | 9,722 |  |  | — |  |  | (4,716 | ) |  | 5,006 |
Non-cash restructuring charges | — |  |  | — |  |  | 1,000 |  |  | 1,000 |
Deferred income tax provision | (13,234 | ) |  | 1,889 |  |  | 5,711 |  |  | (5,634 | )
Changes in assets and liabilities: |  |  |  |  |  |  |
Accounts receivable and notes | 51,147 |  |  | 2,038 |  |  | (42,279 | ) |  | 10,906 |
Inventory | 2,595 |  |  | — |  |  | (4,312 | ) |  | (1,717 | )
Costs and estimated earnings versus billings on uncompleted contracts | (22,438 | ) |  | 10,238 |  |  | 12,200 |  |  | — |
Other current assets | (6,945 | ) |  | (37 | ) |  | 6,325 |  |  | (657 | )
Accounts payable and other liabilities | (73,079 | ) |  | 10,490 |  |  | 53,363 |  |  | (9,226 | )
Deferred revenue | (2,986 | ) |  | — |  |  | 2,931 |  |  | (55 | )
Other | (9,129 | ) |  | (910 | ) |  | 15,122 |  |  | 5,083 |
Net cash provided by continuing operations | 185,961 |  |  | — |  |  | (34,471 | ) |  | 151,490 |
Net cash provided by discontinued operations | 1,351 |  |  | — |  |  | 34,471 |  |  | 35,822 |
Net cash provided by operating activities | 187,312 |  |  | — |  |  | — |  |  | 187,312 |
Cash flows from investing activities: |  |  |  |  |  |  |
Capital expenditures | (254,180 | ) |  | — |  |  | 93,232 |  |  | (160,948 | )
Proceeds from sale of property, plant and equipment | 19,348 |  |  | — |  |  | (5,212 | ) |  | 14,136 |
Return of investments in non-consolidated affiliates | 10,068 |  |  | — |  |  | (10,068 | ) |  | — |
Proceeds received from settlement of note receivable | 5,357 |  |  |  |  | (5,357 | ) |  | — |
Net cash used in continuing operations | (219,407 | ) |  | — |  |  | 72,595 |  |  | (146,812 | )
Net cash provided by (used in) discontinued operations | 16,560 |  |  | — |  |  | (72,595 | ) |  | (56,035 | )
Net cash used in investing activities | (202,847 | ) |  | — |  |  | — |  |  | (202,847 | )
Cash flows from financing activities: |  |  |  |  |  |  |
Proceeds from borrowings of long-term debt | 765,500 |  |  | — |  |  | — |  |  | 765,500 |
Repayments of long-term debt | (703,000 | ) |  | — |  |  | — |  |  | (703,000 | )
Payments for debt issuance costs | (1,311 | ) |  | — |  |  | — |  |  | (1,311 | )
Payments for settlement of interest rate swaps that include financing elements | (1,877 | ) |  | — |  |  | — |  |  | (1,877 | )
Net proceeds from the sale of Partnership units | 1,268 |  |  |  |  |  |  | 1,268 |
Proceeds from stock options exercised | 1,005 |  |  | — |  |  | — |  |  | 1,005 |
Proceeds from stock issued pursuant to our employee stock purchase plan | 910 |  |  | — |  |  | — |  |  | 910 |
Purchases of treasury stock | (3,736 | ) |  | — |  |  | — |  |  | (3,736 | )
Dividends to Archrock stockholders | (20,743 | ) |  | — |  |  | — |  |  | (20,743 | )
Stock-based compensation excess tax benefit | 2,379 |  |  | — |  |  | (799 | ) |  | 1,580 |
Distributions to noncontrolling partners in the Partnership | (40,491 | ) |  | — |  |  | — |  |  | (40,491 | )
Net cash used in continuing operations | (96 | ) |  | — |  |  | (799 | ) |  | (895 | )
Net cash provided by discontinuing operations | — |  |  | — |  |  | 799 |  |  | 799 |
Net cash used in financing activities | (96 | ) |  | — |  |  | — |  |  | (96 | )
Effect of exchange rate changes on cash and cash equivalents | (783 | ) |  | — |  |  | — |  |  | (783 | )
Net increase in cash and cash equivalents - total operations | (16,414 | ) |  | — |  |  | — |  |  | (16,414 | )
Less: Net decrease in cash and cash equivalents - discontinued operations | — |  |  | — |  |  | (16,312 | ) |  | (16,312 | )
Cash and cash equivalents at beginning of period | 39,739 |  |  | — |  |  | (39,361 | ) |  | 378 |
Cash and cash equivalents at end of period | $ | 23,325 |  |  | $ | — |  |  | $ | (23,049 | ) |  | $ | 276 |
(1) | As discussed in Note 3, in November 2015, we completed the Spin-off of our international contract operations, international aftermarket services and global fabrication businesses into a standalone public company operating as Exterran Corporation. The results of these businesses have been reclassified to discontinued operations in our financial statements for all periods presented.

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- Definition Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22663-107794 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22644-107794 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22658-107794 + Details
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