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Recent Accounting Developments (Tables)
 6 Months Ended
Jun. 30, 2018
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]  
Schedule of New Accounting Pronouncements and Changes in Accounting Principles
The following table summarizes the cumulative impact of the adoption of the Revenue Recognition Update on the opening balance sheet (in thousands):
 
December 31, 2017
 
Adjustments Due to the Revenue Recognition Update
 
January 1, 2018
Assets
 
 
 
 
 
Accounts receivable, trade
$
113,416

 
$
7,883

 
$
121,299

Inventory
90,691

 
(6,917
)
 
83,774

Contract costs
—

 
21,524

 
21,524

 
 
 
 
 
 
Liabilities
 
 
 
 
 
Accrued liabilities
$
71,116

 
$
209

 
$
71,325

Deferred revenue
4,858

 
3,188

 
8,046

Deferred income taxes
97,943

 
4,427

 
102,370

 
 
 
 
 
 
Equity
 
 
 
 
 
Accumulated deficit
$
(2,241,243
)
 
$
14,666

 
$
(2,226,577
)

The following tables summarize the impact of the application of the Revenue Recognition Update on our condensed consolidated balance sheet and condensed consolidated statement of operations (in thousands):

 
June 30, 2018
 
 
Balance Sheet
As Reported
 
Balance Excluding the Impact of the Revenue Recognition Update
 
Effect of Change
Assets
 
 
 
 
 
Accounts receivable, trade
$
130,596

 
$
115,923

 
$
14,673

Inventory
82,470

 
97,463

 
(14,993
)
Contract costs
31,240

 
—

 
31,240

 
 
 
 
 
 
Liabilities
 
 
 
 
 
Accounts payable, trade
$
91,818

 
$
91,776

 
$
42

Accrued liabilities
67,152

 
66,930

 
222

Deferred revenue
8,859

 
7,037

 
1,822

Deferred income taxes
2,568

 
2,329

 
239

Other long-term liabilities
17,536

 
17,514

 
22

 
 
 
 
 
 
Equity
 
 
 
 
 
Additional paid-in capital (1)
$
3,150,118

 
$
3,140,754

 
$
9,364

Accumulated deficit
(2,252,349
)
 
(2,271,558
)
 
19,209

——————
(1) 
Represents the impact of the Revenue Recognition Update on net income attributable to noncontrolling interest which was reclassed to additional paid-in capital pursuant to the Merger.

 
Three Months Ended June 30, 2018
 
 
Statement of Operations
As Reported
 
Balance Excluding the Impact of the Revenue Recognition Update
 
Effect of Change
Revenue:
 
 
 
 
 
Contract operations
$
165,450

 
$
166,341

 
$
(891
)
Aftermarket services
61,420

 
56,660

 
4,760

Total revenue
226,870

 
223,001

 
3,869

Cost of sales (excluding depreciation and amortization):
 
 
 
 
 
Contract operations
67,809

 
71,956

 
(4,147
)
Aftermarket services
50,793

 
47,103

 
3,690

Selling, general and administrative
26,649

 
27,025

 
(376
)
Benefit from income taxes
(1,567
)
 
(4,097
)
 
2,530

Less: Net income attributable to the noncontrolling interest
(2,212
)
 
(1,735
)
 
(477
)
Net income attributable to Archrock stockholders
1,937

 
242

 
1,695



 
Six Months Ended June 30, 2018
 
 
Statement of Operations
As Reported
 
Balance Excluding the Impact of the Revenue Recognition Update
 
Effect of Change
Revenue:
 
 
 
 
 
Contract operations
$
326,647

 
$
329,325

 
$
(2,678
)
Aftermarket services
112,263

 
101,442

 
10,821

Total Revenue
438,910

 
430,767

 
8,143

Cost of sales (excluding depreciation and amortization):
 
 
 
 
 
Contract operations
132,404

 
141,150

 
(8,746
)
Aftermarket services
93,130

 
85,011

 
8,119

Selling, general and administrative
54,157

 
55,127

 
(970
)
Benefit from income taxes
(1,213
)
 
(4,454
)
 
3,241

Less: Net income attributable to the noncontrolling interest
(8,097
)
 
(6,141
)
 
(1,956
)
Net loss attributable to Archrock stockholders
(1,879
)
 
(6,422
)
 
4,543