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Segment Information | 6 Months Ended
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Jun. 30, 2024
Segment Information |
Segments | 16. Segment Information We manage our business segments primarily based on the type of product or service provided. We have two segments that we operate within the U.S.: 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. We evaluate the performance of our segments based on adjusted gross margin, defined as revenue less cost of sales, exclusive of 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, 2024 |  | ​ |  |  | ​ |  |  | ​ |
Revenue | ​ | $ | 225,468 | ​ | $ | 45,058 | ​ | $ | 270,526
Adjusted gross margin | ​ |  | 146,190 | ​ |  | 9,900 | ​ |  | 156,090
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Three months ended June 30, 2023 | ​ |  |  | ​ |  |  | ​ |  |
Revenue | ​ | $ | 201,120 | ​ | $ | 46,423 | ​ | $ | 247,543
Adjusted gross margin | ​ |  | 125,087 | ​ |  | 11,080 | ​ |  | 136,167
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Six months ended June 30, 2024 | ​ |  |  | ​ |  |  | ​ |  |
Revenue | ​ | $ | 448,519 | ​ | $ | 90,495 | ​ | $ | 539,014
Adjusted gross margin | ​ |  | 291,498 | ​ |  | 20,337 | ​ |  | 311,835
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Six months ended June 30, 2023 | ​ |  |  | ​ |  |  | ​ |  |
Revenue | ​ | $ | 388,865 | ​ | $ | 88,512 | ​ | $ | 477,377
Adjusted gross margin | ​ |  | 233,350 | ​ |  | 19,261 | ​ |  | 252,611
​ The following table reconciles total adjusted gross margin to income before income taxes: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended |  | Six Months Ended
​ | ​ | June 30, | ​ | June 30,
(in thousands) |  | 2024 |  | 2023 |  | 2024 |  | 2023
Total adjusted gross margin | ​ | $ | 156,090 | ​ | $ | 136,167 | ​ | $ | 311,835 | ​ | $ | 252,611
Less: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Selling, general and administrative | ​ |  | 31,163 | ​ |  | 28,649 | ​ |  | 62,828 | ​ |  | 55,074
Depreciation and amortization | ​ |  | 43,853 | ​ |  | 41,210 | ​ |  | 86,688 | ​ |  | 81,391
Long-lived and other asset impairment | ​ |  | 4,401 | ​ |  | 2,892 | ​ |  | 6,969 | ​ |  | 5,461
Restructuring charges | ​ | ​ | — | ​ | ​ | (85) | ​ | ​ | — | ​ | ​ | 962
Interest expense | ​ |  | 27,859 | ​ |  | 28,630 | ​ |  | 55,193 | ​ |  | 55,211
Transaction-related costs | ​ | ​ | 1,782 | ​ | ​ | — | ​ | ​ | 1,782 | ​ | ​ | —
Gain on sale of assets, net | ​ | ​ | (576) | ​ | ​ | (1,176) | ​ | ​ | (2,957) | ​ | ​ | (4,781)
Other expense, net | ​ |  | 128 | ​ |  | 1,463 | ​ |  | 267 | ​ |  | 2,066
Income before income taxes | ​ | $ | 47,480 | ​ | $ | 34,584 | ​ | $ | 101,065 | ​ | $ | 57,227
​

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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/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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