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Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2024
Fair value  
Schedule of carrying value and estimated fair value of debt instruments

(in thousands)

    

June 30, 2024

    

December 31, 2023

Carrying amount of fixed rate debt (1)

$

1,298,256

$

1,297,844

Fair value of fixed rate debt

 

1,295,000

 

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 June 30, 2024

$0 - $211 per horsepower

$51 per horsepower

As of December 31, 2023

$0 - $294 per horsepower

$50 per horsepower

(1)Calculated based on an estimated discount for market liquidity of 26% and 33% as of June 30, 2024 and December 31, 2023, respectively.
Schedule of non-recurring fair value assets

(in thousands)

June 30, 2024

December 31, 2023

Impaired compressors

$

594

$

1,423

ECOTEC | Equity investment  
Fair value  
Schedule of significant unobservable inputs

Significant

Three Months Ended

Three Months Ended

Unobservable

June 30, 2024

June 30, 2023

Inputs

Range

Median

Range

Median

Valuation technique:

      

Discounted cash flow

WACC

0.4% - 20.0%

13.5%

0.0% - 17.4%

10.0%

Guideline public company

Revenue multiple

1.5x - 7.2x

3.8x

1.6x - 10.0x

4.0x

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

Three Months Ended

Six Months Ended

June 30, 

June 30, 

(in thousands)

2024

2023

2024

2023

Balance at beginning of period

      

$

14,905

      

$

14,549

$

14,905

      

$

12,803

Purchases of equity interests

2,000

Unrealized loss (1)

(1,742)

(1,996)

Balance at end of period

$

14,905

$

12,807

$

14,905

$

12,807

(1)Included in other expense, net in our unaudited condensed consolidated statement of operations.