XML 21 R7.htm IDEA: XBRL DOCUMENT v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Net income $ 322,290 $ 172,231 $ 104,998
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 256,761 193,194 166,241
Long-lived and other asset impairment 18,290 10,681 12,041
Non-cash restructuring charges     221
Equity in net loss of unconsolidated affiliate 503    
Unrealized change in fair value of investment in unconsolidated affiliate 25 1,484 973
Inventory write-downs 913 550 545
Amortization of operating lease right-of-use assets 4,675 3,852 3,319
Amortization of deferred financing costs 6,360 5,072 5,729
Amortization of debt premium (2,006) (2,006) (2,006)
Amortization of capitalized implementation costs 3,335 3,009 2,624
Debt extinguishment loss 890 3,181  
Stock-based compensation expense 19,027 14,646 12,998
Provision for credit losses 1,164 381 224
Gain on sale of assets, net (47,081) (17,887) (10,199)
Deferred income tax provision 97,791 58,090 35,658
Amortization of contract costs 22,061 23,877 21,289
Deferred revenue recognized in earnings (23,983) (15,001) (16,464)
Changes in operating assets and liabilities:      
Accounts receivable, net (9,291) 524 (9,123)
Inventory (10,477) (1,920) 4,189
Other assets (45,212) (2,537) (1,895)
Contract costs (23,560) (23,902) (24,292)
Accounts payable and other liabilities 3,501 (15,850) (12,166)
Deferred revenue 26,031 18,052 15,386
Other 100 (130) (103)
Net cash provided by operating activities 622,107 429,591 310,187
Cash flows from investing activities:      
Capital expenditures (502,465) (359,032) (298,632)
Proceeds from sale of business 71,000    
Proceeds from sale of property, equipment and other assets 120,839 67,591 72,206
Proceeds from insurance and other settlements 3,811 45 1,222
Investments in unconsolidated affiliates (5,471) (2,497) (7,287)
Net cash used in investing activities (606,899) (1,160,063) (232,491)
Cash flows from financing activities:      
Borrowings of long-term debt 2,143,151 1,429,500 802,825
Repayments of long-term debt (1,633,001) (1,308,200) (767,050)
Redemption and partial repayment of 2027 Notes (300,000) (201,987)  
Proceeds from 2032 Notes offering   700,000  
Payments of debt issuance costs (1,890) (12,338) (6,031)
Dividends paid to stockholders (141,602) (110,374) (95,796)
Repurchases of common stock (70,239) (13,337) (8,860)
Taxes paid related to net share settlement of equity awards (15,004) (6,574) (3,829)
Net proceeds from issuance of common stock   255,747  
Proceeds from stock issued under ESPP 1,633 1,117 817
Contribution to Enerflex (1,123)    
Net cash (used in) provided by financing activities (18,075) 733,554 (77,924)
Net (decrease) increase in cash and cash equivalents (2,867) 3,082 (228)
Cash and cash equivalents, beginning of period 4,420 1,338 1,566
Cash and cash equivalents, end of period 1,553 4,420 1,338
Supplemental disclosure of cash flow information:      
Interest paid 160,986 120,544 107,765
Income taxes paid, net 3,290 2,210 1,311
Supplemental disclosure of non-cash investing transactions:      
Accrued capital expenditures 8,900 19,742 $ 25,689
TOPS      
Cash flows from investing activities:      
Cash paid in Acquisition, net of cash acquired   (866,170)  
Supplemental disclosure of non-cash investing transactions:      
Issuance of Archrock common stock pursuant to Acquisition   $ 139,054  
NGCS      
Cash flows from investing activities:      
Cash paid in Acquisition, net of cash acquired (294,613)    
Supplemental disclosure of non-cash investing transactions:      
Issuance of Archrock common stock pursuant to Acquisition $ 52,966