Archrock Inc
For the period ended Mar 31, 2024. Filed May 1, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 1, 2024
AROC$27.88-3.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
(in thousands)
| | | | | | | |
|---|---|---|---|---|---|---|
| · · Three Months Ended | ||||||
| · · March 31, | ||||||
| · 2024 · 2023 | ||||||
| Cash flows from operating activities: · · · · | ||||||
| Net income | | $40,532 | | $16,485 | ||
| Adjustments to reconcile net income to net cash provided by operating activities: | | | ||||
| Depreciation and amortization | | 42,835 | | 40,181 | ||
| Long-lived and other asset impairment | | 2,568 | | 2,569 | ||
| Non-cash restructuring charges | | | — | | | 927 |
| Unrealized change in fair value of investment in unconsolidated affiliate | | | — | | | 254 |
| Inventory write-downs | | 199 | | 216 | ||
| Amortization of operating lease right-of-use assets | | | 947 | | | 823 |
| Amortization of deferred financing costs | | | 1,193 | | | 1,288 |
| Amortization of debt premium | | | (501) | | | (501) |
| Amortization of capitalized implementation costs | | | 738 | | | 597 |
| Stock-based compensation expense | | 3,964 | | 3,327 | ||
| Benefit from credit losses | | (75) | | (340) | ||
| Gain on sale of assets, net | | (2,381) | | (3,605) | ||
| Deferred income tax provision | | 12,460 | | 5,881 | ||
| Amortization of contract costs | | | 5,768 | | | 5,090 |
| Deferred revenue recognized in earnings | | | (2,859) | | | (4,476) |
| Changes in operating assets and liabilities: | | | | | ||
| Accounts receivable, net | | | 19,819 | | | 7,632 |
| Inventory | | | 1,246 | | | (4,131) |
| Other assets | | | (1,785) | | | 609 |
| Contract costs | | | (3,996) | | | (6,352) |
| Accounts payable and other liabilities | | | 13,958 | | | 18,219 |
| Deferred revenue | | | 3,070 | | | 3,179 |
| Other | | | 2 | | | (16) |
| Net cash provided by operating activities | | 137,702 | | 87,856 | ||
| | | | | | | |
| Cash flows from investing activities: | | | ||||
| Capital expenditures | | (99,755) | | (84,392) | ||
| Proceeds from sale of property, equipment and other assets | | 13,844 | | 28,726 | ||
| Proceeds from insurance and other settlements | | | 45 | | | — |
| Investments in unconsolidated entities | | | (57) | | | (2,000) |
| Net cash used in investing activities | | (85,923) | | (57,666) | ||
| | | | | | | |
| Cash flows from financing activities: | | | ||||
| Borrowings of long-term debt | | 244,525 | | 158,850 | ||
| Repayments of long-term debt | | (263,050) | | (160,100) | ||
| Dividends paid to stockholders | | (26,000) | | (23,852) | ||
| Repurchases of common stock | | | (1,230) | | | — |
| Taxes paid related to net share settlement of equity awards | | | (6,451) | | | (3,773) |
| Proceeds from stock issued under ESPP | | 244 | | 170 | ||
| Net cash used in financing activities | | (51,962) | | (28,705) | ||
| Net increase (decrease) in cash and cash equivalents | | (183) | | 1,485 | ||
| Cash and cash equivalents, beginning of period | | 1,338 | | 1,566 | ||
| Cash and cash equivalents, end of period | | $1,155 | | $3,051 | ||
| | | | | | | |
Notes to Condensed Consolidated Financial Statements
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