Archrock Inc
For the period ended Dec 31, 2024. Filed Feb 25, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 25, 2025
AROC$28.99+5.3%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Glossary
The following terms and abbreviations appearing in the text of this report, including the Financial Statements, have the meanings indicated below.
| 2020 Plan | | 2020 Stock Incentive Plan |
|---|---|---|
| 2027 Notes | | $500.0 million of 6.875% senior notes due April 2027 |
| 2027 Notes Tender Offer | | $200.0 million partial redemption of the 2027 Notes, completed in August 2024 |
| 2028 Notes | | $800.0 million of 6.25% senior notes due April 2028 |
| 2032 Notes | | $700.0 million of 6.625% senior notes due September 2032, issued in August 2024 |
| Amended and Restated Credit Agreement | | Amended and Restated Credit Agreement, dated May 16, 2023, which amended and restated that Credit Agreement, dated as of March 30, 2017, and which governs the Credit Facility |
| AMNAX | | Alerian Midstream Energy Index |
| AMZ | | Alerian MLP Index |
| Archrock ELT | | Archrock ELT LLC, an indirect, wholly owned subsidiary of Archrock |
| Archrock, our, we, us | | Archrock, Inc., individually and together with its wholly owned subsidiaries |
| ARRC | | Alternative Reference Rates Committee |
| ASU | | Accounting Standards Update |
| ATM Agreement | | Equity Distribution Agreement, dated February 23, 2021, entered into with Wells Fargo Securities, LLC and BofA Securities, Inc., as sales agents, relating to the at–the–market offer and sale of shares of our common stock from time to time |
| Bcf/d | | Billion cubic feet per day |
| BoLM | | U.S. Department of the Interior’s Bureau of Land Management |
| CAA | | Clean Air Act |
| CERCLA | | Comprehensive Environmental Response, Compensation, and Liability Act |
| CIS CSC | | Center for Internal Security Critical Security Controls |
| CISSP | | Certified Information Systems Security Professional |
| Code | | Internal Revenue Code of 1986, as amended |
| CODM | | Chief operating decision maker |
| Congress | | The United States Congress is the legislature of the federal government of the United States, composed of a lower body, the House of Representatives, and an upper body, the Senate |
| COP | | Conference of the Parties of the United Nations Framework Convention on Climate Change |
| Credit Facility | | $1.1 billion asset-based revolving credit facility due May 2028, as governed by the Amended and Restated Credit Agreement |
| CWA | | Clean Water Act |
| Debt Agreements | | Credit Facility, 2027 Notes, 2028 Notes and 2032 Notes, collectively |
| DOE | | Department of Energy |
| DSDP | | Directors’ Stock and Deferral Plan |
| EBITDA | | Earnings before interest, taxes, depreciation and amortization |
| ECOTEC | | Ecotec International Holdings, LLC |
| EIA | | U.S. Energy Information Administration |
| EIA Outlook | | February 2025 EIA Short Term Outlook |
| EPA | | U.S. Environmental Protection Agency |
| ERP | | Enterprise Resource Planning |
| ESG | | Environmental, Social and Governance |
| ESPP | | Employee Stock Purchase Plan |
| Exchange Act | | Securities Exchange Act of 1934, as amended |
| FASB | | Financial Accounting Standards Board |
| Federal Funds Effective Rate | | The target interest rate depository institutions charge each other for overnight loans of funds |
| Financial Statements | | Consolidated financial statements included in Part IV Item 15 of this Form 10–K |
|---|---|---|
| First Amendment to the Amended and Restated Credit Agreement | | First Amendment to the Amended and Restated Credit Agreement, dated August 28, 2024, which amended the Amended and Restated Credit Agreement |
| GAAP | | Accounting principles generally accepted in the U.S. |
| GHG | | Greenhouse gases (carbon dioxide, methane and water vapor for example) |
| Hilcorp | | Hilcorp Energy Company |
| Ionada | | Ionada PLC |
| IRS | | Internal Revenue Service |
| IT | | Information Technology |
| July 2024 Equity Offering | | Public underwriting offering whereby Archrock sold approximately 12.7 million shares of its common stock, completed in July 2024 |
| LIBOR | | London Interbank Offered Rate |
| LNG | | Liquified natural gas |
| MMb/d | | Million barrels per day |
| NAAQS | | National Ambient Air Quality Standards |
| NOL | | Net operating loss |
| NSPS | | New Source Performance Standards |
| OOOOb and OOOOc | | Subpart of the NSPS commonly referred to as the EPA’s methane rule for new and existing sources |
| OSHA | | Occupational Safety and Health Act |
| OTC | | Over–the–counter, as related to aftermarket services parts and components |
| Paris Agreement | | Resulting agreement of the 21st Conference of the Parties of the United Nations Framework Convention on Climate Change held in Paris, France |
| ppb | | Parts per billion |
| Prime Rate | | Rate of interest last quoted by The Wall Street Journal as the prime rate in the U.S. |
| RCRA | | Resource Conservation and Recovery Act |
| ROU | | Right–of–use, as related to operating leases |
| S&P 500 | | S&P 500 Composite Stock Price Index |
| SEC | | U.S. Securities and Exchange Commission |
| SG&A | | Selling, general and administrative |
| Share Repurchase Program | | Share repurchase program approved by our Board of Directors on April 27, 2023 that allowed us to repurchase up to $50.0 million of outstanding common stock for a period of twelve months, which prior to its expiration was extended on April 25, 2024 for an additional 24-month period and a replenishment of the authorized share repurchase amount to $50.0 million |
| SOFR | | Secured Overnight Financing Rate |
| Spin–off | | Spin–off of our international contract operations, international aftermarket services and global fabrication businesses into a standalone public company operating as Exterran Corporation in November 2015. Exterran Corporation was subsequently acquired by Enerflex Ltd. in October 2022. |
| TOPS | | Total Operations and Production Services, LLC, a portfolio company managed by certain affiliates of Apollo Global Management, Inc. |
| TOPS Acquisition | | Transaction completed on August 30, 2024 (“acquisition date”) pursuant to that certain purchase and sale agreement, dated as of July 22, 2024, by and among Archrock, Archrock ELT, TOPS Pledge1, LLC, TOPS Pledge2, LLC and for limited purposes therein, TOPS Holdings, LLC, whereby Archrock acquired all of the issued and outstanding equity interests in TOPS |
| UNFCCC | | United Nations Framework Convention on Climate Change |
| U.S. | | United States of America |
| VOC | | Volatile organic compounds |
| WACC | | Weighted average cost of capital |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.