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Segment Information

6 Months Ended

Jun. 30, 2023

Segment Information

Segment Information

15. Segment Information

​

We manage our business segments primarily based on the type of product or service provided. We have two segments: contract operations and aftermarket services. Our contract operations segment primarily provides natural gas compression services to meet specific customer requirements. Our 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. All of our operations are located in the U.S.

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 reporting segments is shown below:

​

​	​	​	​	​	​	​	​	​	​
​		Contract			Aftermarket			​	​
(in thousands)		Operations			Services			Total
Three months ended June 30, 2023		​			​			​
Revenue	​	$	201,120	​	$	46,423	​	$	247,543
Gross margin	​		125,087	​		11,080	​		136,167
​	​	​	​	​	​	​	​	​	​
Three months ended June 30, 2022	​			​			​
Revenue	​	$	166,298	​	$	49,530	​	$	215,828
Gross margin	​		97,943	​		7,820	​		105,763
​	​	​	​	​	​	​	​	​	​
Six months ended June 30, 2023	​			​			​
Revenue	​	$	388,865	​	$	88,512	​	$	477,377
Gross margin	​		233,350	​		19,261	​		252,611
​	​	​	​	​	​	​	​	​	​
Six months ended June 30, 2022	​			​			​
Revenue	​	$	329,954	​	$	83,075	​	$	413,029
Gross margin	​		197,098	​		12,727	​		209,825

​

The following table reconciles total gross margin to income before income taxes:

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Three Months Ended

Six Months Ended

​

​

June 30,

​

June 30,

(in thousands)

2023

2022

2023

2022

Total gross margin

​

$

136,167

​

$

105,763

​

$

252,611

​

$

209,825

Less:

​

​

​

​

Selling, general and administrative

​

28,649

​

27,691

​

55,074

​

55,464

Depreciation and amortization

​

41,210

​

41,356

​

81,391

​

84,395

Long-lived and other asset impairment

​

2,892

​

4,647

​

5,461

​

12,063

Restructuring charges

​

​

(85)

​

​

—

​

​

962

​

​

—

Interest expense

​

28,630

​

24,456

​

55,211

​

49,702

Gain on sale of assets, net

​

​

(1,176)

​

​

(18,948)

​

​

(4,781)

​

​

(21,060)

Other expense (income), net

​

1,463

​

497

​

2,066

​

533

Income before income taxes

​

$

34,584

​

$

26,064

​

$

57,227

​

$

28,728

​

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- References

No definition available.

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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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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