Archrock Inc

For the period ended Sep 30, 2024. Filed Nov 12, 2024.

About this filing

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.

Sep 30, 2024 · Filed Nov 12, 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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Contents

Condensed Consolidated Statements of Cash Flows

(in thousands)


· · Nine Months Ended
· · September 30,
· 2024 · 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	$—

Notes to Condensed Consolidated Financial Statements

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.