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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2024

Fair value

Schedule of carrying value and estimated fair value of debt instruments

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​	​	​	​	​	​	​
​		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

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​	​	​	​	​
​		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

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​		​	​	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

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​	​	​	​
​	​	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

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Significant

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Three Months Ended

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Three Months Ended

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Unobservable

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March 31, 2024

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March 31, 2023

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Inputs

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Range

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Median

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Range

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Median

Valuation technique:

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Discounted cash flow

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WACC

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0.4% - 20.0%

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13.5%

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0.0% - 22.1%

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11.3%

Guideline public company

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Revenue multiple

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1.5x - 7.2x

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3.8x

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1.7x - 8.0x

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3.9x

Schedule of changes in assets measured at fair value on a recurring basis

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​	​	​	​	​	​	​	​
​	​	​	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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X

- Definition

Tabular disclosure of investment in equity security without readily determinable fair value.

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