Archrock, Inc.
For the period ended Dec 31, 2025. Filed Feb 26, 2026.
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FY2025 · Filed Feb 26, 2026
AROC$27.88-3.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 8. Consolidated Statements of Cash Flows
| | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|
| · · Year Ended December 31, | |||||||||
| · · 2025 · · 2024 · · 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 |
| Cash paid in TOPS Acquisition, net of cash acquired | | | — | | | (866,170) | | | — |
| Cash paid in NGCS Acquisition, net of cash acquired | | | (294,613) | | | — | | | — |
| 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 | |||
Consolidated Statements of Cash Flows
(in thousands)
| Supplemental disclosure of cash flow information: · · · · · · | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Interest paid | | $160,986 | | $120,544 | | $107,765 | |||
| | | | | | | | | | |
| Supplemental disclosure of non-cash investing transactions: | | | | | | | | | |
| Accrued capital expenditures | | $8,900 | | $19,742 | | $25,689 | |||
| Issuance of Archrock common stock pursuant to TOPS Acquisition | | | — | | | 139,054 | | | — |
| Issuance of Archrock common stock pursuant to NGCS Acquisition | | | 52,966 | | | — | | | — |
ARCHROCK, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
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