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SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2022

SEGMENT INFORMATION

SEGMENT INFORMATION

NOTE 28. SEGMENT INFORMATION

We manage our business segments primarily based on the type of product or service provided. We have two segments which we operate within the U.S.: contract operations and aftermarket services. The contract operations segment primarily provides natural gas compression services to meet specific customer requirements. The aftermarket services segment provides a full range of services to support the compression needs of customers, from parts sales and normal maintenance services to full operation of a customer’s owned assets.

We evaluate the performance of our segments based on gross margin, defined as revenue less cost of sales (excluding depreciation and amortization) for each segment. Segment revenue includes only sales to external customers.

Summarized financial information for our segments is shown below:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Contract

Aftermarket

​

​

​

​

Operations

Services

Other (1)

Total

2022

​

​

​

​

Revenue

​

$

677,801

​

$

167,767

​

$

—

​

$

845,568

Gross margin

​

398,903

​

27,181

​

—

​

426,084

Capital expenditures

​

​

237,246

​

1,964

​

657

​

239,867

​

​

​

​

​

​

​

​

​

​

​

​

​

2021

​

​

​

​

Revenue

​

$

648,311

​

$

133,150

​

$

—

​

$

781,461

Gross margin

​

403,825

​

18,719

​

—

​

422,544

Capital expenditures

​

94,863

​

2,675

​

347

​

97,885

​

​

​

​

​

​

​

​

​

​

​

​

​

2020

​

​

​

​

Revenue

​

$

738,918

​

$

136,052

​

$

—

​

$

874,970

Gross margin

​

477,831

​

19,946

​

—

​

497,777

Capital expenditures

​

133,492

​

5,308

​

1,502

​

140,302

(1) Corporate–related items.

​

The reconciliations of total assets by segment to total assets per the consolidated balance sheets are as follows:

​

​	​	​	​	​	​	​
​		December 31,
​		2022		​	2021
Contract operations assets	​	$	2,431,145	​	$	2,429,805
Aftermarket services assets	​		61,282	​		49,420
Segment assets	​	​	2,492,427	​	​	2,479,225
Other assets (1)	​	​	97,737	​	​	100,930
Assets of discontinued operations	​	​	8,586	​	​	9,811
Total assets	​	$	2,598,750	​	$	2,589,966

(1) Corporate–related items.

The reconciliations of total gross margin to income (loss) before income taxes are as follows:

​

​	​	​	​	​	​	​	​	​	​
​	​	Year Ended December 31,
​	​	2022			2021			2020
Total gross margin	​	$	426,084	​	$	422,544	​	$	497,777
Less:	​			​			​
Selling, general and administrative	​		117,184	​		107,167	​		105,100
Depreciation and amortization	​		164,259	​		178,946	​		193,138
Long-lived and other asset impairment	​		21,442	​		21,397	​		79,556
Goodwill impairment	​	​	—	​	​	—	​	​	99,830
Restructuring charges	​	​	—	​	​	2,903	​	​	8,450
Interest expense	​		101,259	​		108,135	​		105,716
Debt extinguishment loss	​	​	—	​	​	—	​	​	3,971
Gain on sale of assets, net	​	​	(40,494)	​	​	(30,258)	​	​	(10,643)
Other expense (income), net	​		1,845	​		(4,707)	​		(1,359)
Income (loss) before income taxes	​	$	60,589	​	$	38,961	​	$	(85,982)

​

X

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- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
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