XML 19 R8.htm IDEA: XBRL DOCUMENT v3.19.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net income $ 30,879 $ 6,218
Adjustments to reconcile net income to cash provided by operating activities:    
Loss from discontinued operations, net of tax 273 0
Depreciation and amortization 89,588 87,786
Long-lived asset impairment 11,724 11,663
Inventory write-downs 492 1,018
Amortization of operating lease ROU assets 1,425 0
Amortization of deferred financing costs 3,041 3,094
Amortization of debt discount 545 694
Amortization of terminated interest rate swaps 0 291
Debt extinguishment loss 3,653 2,450
Interest rate swaps (802) 327
Stock-based compensation expense 3,869 3,763
Provision for doubtful accounts 335 908
Gain on sale of assets (1,785) (2,188)
Deferred income tax benefit (1,819) (1,327)
Amortization of contract costs 10,724 6,281
Deferred revenue recognized in earnings (25,227) (11,274)
Changes in assets and liabilities:    
Accounts receivable, trade (5,015) (10,458)
Inventory 2,160 (50)
Other assets 12,817 484
Contract costs (14,128) (15,998)
Accounts payable and other liabilities 6,102 9,858
Deferred revenue 19,747 11,781
Other 65 (106)
Net cash provided by operating activities 148,663 105,215
Cash flows from investing activities:    
Capital expenditures (234,972) (132,172)
Proceeds from sale of property, plant and equipment 21,954 19,193
Proceeds from insurance and other settlements 676 252
Net cash used in investing activities (212,342) (112,727)
Cash flows from financing activities:    
Proceeds from borrowings of long-term debt 1,254,000 383,830
Repayments of long-term debt (1,151,000) (343,636)
Payments for debt issuance costs (8,829) (3,332)
Proceeds from (payments for) settlement of interest rate swaps that include financing elements 800  
Proceeds from (payments for) settlement of interest rate swaps that include financing elements   (207)
Dividends paid to Archrock stockholders (34,437) (24,018)
Distributions paid to noncontrolling partners in the Partnership 0 (11,766)
Proceeds from stock options exercised 0 262
Proceeds from stock issued under employee stock purchase plan 407 416
Purchases of treasury stock (857) (1,041)
Net cash provided by financing activities 60,084 508
Net decrease in cash and cash equivalents (3,595) (7,004)
Cash and cash equivalents, beginning of period 5,610 10,536
Cash and cash equivalents, end of period 2,015 3,532
Supplemental disclosure of non-cash transactions:    
Issuance of Archrock common stock pursuant to Merger, net of tax $ 0 $ 53,391