XML 18 R7.htm IDEA: XBRL DOCUMENT v3.24.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income $ 112,473 $ 71,996
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 135,065 123,546
Long-lived and other asset impairment 9,478 8,383
Non-cash restructuring charges   211
Unrealized change in fair value of investment in unconsolidated affiliate   1,996
Inventory write-downs 568 381
Amortization of operating lease right-of-use assets 2,789 2,488
Amortization of deferred financing costs 3,575 4,599
Amortization of debt premium (1,504) (1,504)
Amortization of capitalized implementation costs 2,259 1,841
Debt extinguishment loss 3,181  
Stock-based compensation expense 11,215 9,715
Provision for (benefit from) credit losses 95 (234)
Gain on sale of assets, net (5,175) (8,018)
Deferred income tax provision 40,483 26,411
Amortization of contract costs 17,771 15,636
Deferred revenue recognized in earnings (9,707) (11,043)
Changes in operating assets and liabilities:    
Accounts receivable, net (4,883) (7,315)
Inventory 3,449 (1,672)
Other assets (3,303) (1,635)
Contract costs (15,970) (18,854)
Accounts payable and other liabilities (7,126) 10,745
Deferred revenue 10,598 10,733
Other (78) 62
Net cash provided by operating activities 305,253 238,468
Cash flows from investing activities:    
Capital expenditures (261,044) (261,977)
Proceeds from sale of property, equipment and other assets 24,204 54,663
Proceeds from insurance and other settlements 45 1,157
Cash paid in TOPS Acquisition, net of cash acquired (866,568)  
Investments in unconsolidated entities (1,307) (2,000)
Net cash used in investing activities (1,104,670) (208,157)
Cash flows from financing activities:    
Borrowings of long-term debt 1,133,425 577,725
Repayments of long-term debt (974,275) (522,075)
Proceeds from 2032 Notes offering 700,000  
Partial repayment of 2027 Notes (201,987)  
Payments of debt issuance costs (12,308) (5,734)
Dividends paid to stockholders (79,684) (71,606)
Repurchases of common stock (13,337) (6,495)
Taxes paid related to net share settlement of equity awards (6,568) (3,784)
Net proceeds from issuance of common stock 255,747  
Proceeds from stock issued under ESPP 815 574
Net cash provided by (used in) financing activities 801,828 (31,395)
Net increase (decrease) in cash and cash equivalents 2,411 (1,084)
Cash and cash equivalents, beginning of period 1,338 1,566
Cash and cash equivalents, end of period 3,749 $ 482
Supplemental disclosure of non-cash investing transactions:    
Issuance of Archrock common stock pursuant to TOPS Acquisition $ 139,054