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Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2024
Fair value |
Schedule of carrying value and estimated fair value of debt instruments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | March 31, 2024 |  | December 31, 2023
(in thousands) | ​ | ​ | ​ | ​ | ​ | ​
Carrying amount of fixed rate debt (1) | ​ | $ | 1,298,066 | ​ | $ | 1,297,844
Fair value of fixed rate debt | ​ |  | 1,294,000 | ​ |  | 1,289,000
(1) Carrying amounts are shown net of unamortized premium and deferred financing costs. See Note 6 (“Long-Term Debt”).
Compressors |
Fair value |
Schedule of significant unobservable inputs | ​
​ | ​ | ​ | ​ | ​
​ |  | Range |  | Weighted Average (1)
Estimated net sale proceeds: | ​ | ​ | ​ | ​
As of March 31, 2024 | ​ | $0 - $211 per horsepower | ​ | $50 per horsepower
As of December 31, 2023 | ​ | $0 - $294 per horsepower | ​ | $50 per horsepower
(1) | Calculated based on an estimated discount for market liquidity 30% and 33% as of March 31, 2024 and December 31, 2023, respectively.
Schedule of non-recurring fair value assets | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ | March 31, 2024 | ​ | December 31, 2023
(in thousands) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Impaired compressors | ​ | ​ | ​ | $ | 263 | ​ | $ | 1,423
Ionada | Equity investment |
Fair value |
Schedule of reconciliation of changes in the carrying value of investment measured at fair value on nonrecurring basis | ​
​ | ​ | ​ | ​
​ | ​ | Three Months Ended
​ | ​ | March 31,
(in thousands) | ​ | 2024
Balance at beginning of period |  | $ | 4,205
Purchases of equity interests | ​ | ​ | —
Transaction costs capitalized as investment activity | ​ | ​ | 57
Cost basis | ​ | ​ | 4,262
Adjustments | ​ | ​ | —
Carrying value | ​ | $ | 4,262
ECOTEC | Equity investment |
Fair value |
Schedule of significant unobservable inputs | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Significant | ​ | Three Months Ended | ​ | Three Months Ended
​ | ​ | Unobservable | ​ | March 31, 2024 | ​ | March 31, 2023
​ | ​ | Inputs | ​ | Range | ​ | Median | ​ | Range | ​ | Median
Valuation technique: |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Discounted cash flow | ​ | WACC | ​ | 0.4% - 20.0% | ​ | ​ | 13.5% | ​ | 0.0% - 22.1% | ​ | ​ | 11.3%
Guideline public company | ​ | Revenue multiple | ​ | 1.5x - 7.2x | ​ | ​ | 3.8x | ​ | 1.7x - 8.0x | ​ | ​ | 3.9x
Schedule of changes in assets measured at fair value on a recurring basis | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Three Months Ended
​ | ​ | ​ | March 31,
(in thousands) | ​ | ​ | ​ | 2024 | ​ | ​ | 2023
Balance at beginning of period |  | ​ | $ | 14,905 |  | $ | 12,803
Purchases of equity interests | ​ | ​ | ​ | — | ​ | ​ | 2,000
Unrealized loss (1) | ​ | ​ | ​ | — | ​ | ​ | (254)
Balance at end of period | ​ | ​ | $ | 14,905 | ​ | $ | 14,549
(1) | Included in other expense (income), net in our unaudited condensed consolidated statement of operations.
​

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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-3 + Details
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