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Segments

12 Months Ended

Dec. 31, 2023

Segments

Segments

29. Segments

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

​

​

​

(in thousands)

Operations

Services

Other (1)

Total

2023

​

​

​

​

Revenue

​

$

809,439

​

$

180,898

​

$

—

​

$

990,337

Gross margin

​

502,691

​

38,627

​

—

​

541,318

Capital expenditures

​

​

294,315

​

3,300

​

1,017

​

298,632

​

​

​

​

​

​

​

​

​

​

​

​

​

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

(1) Corporate–related items.

​

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

​

​	​	​	​	​	​	​
​		December 31,
(in thousands)		2023		​	2022
Contract operations assets	​	$	2,518,282	​	$	2,431,145
Aftermarket services assets	​		57,459	​		61,282
Segment assets	​	​	2,575,741	​	​	2,492,427
Other assets (1)	​	​	72,341	​	​	97,737
Assets of discontinued operations	​	​	7,868	​	​	8,586
Total assets	​	$	2,655,950	​	$	2,598,750

(1) Corporate–related items.

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

​

​	​	​	​	​	​	​	​	​	​
​	​	​
​	​	Year Ended December 31,
(in thousands)	​	2023			2022			2021
Total gross margin	​	$	541,318	​	$	426,084	​	$	422,544
Less:	​			​			​
Selling, general and administrative	​		116,639	​		117,184	​		107,167
Depreciation and amortization	​		166,241	​		164,259	​		178,946
Long-lived and other asset impairment	​		12,041	​		21,442	​		21,397
Restructuring charges	​	​	1,775	​	​	—	​	​	2,903
Interest expense	​		111,488	​		101,259	​		108,135
Gain on sale of assets, net	​	​	(10,199)	​	​	(40,494)	​	​	(30,258)
Other expense (income), net	​		1,086	​		1,845	​		(4,707)
Income before income taxes	​	$	142,247	​	$	60,589	​	$	38,961

​

X

- 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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-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Paragraph 32
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Section 50
-Paragraph 42
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

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-Topic 280
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-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

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