Archrock, Inc. AROC Cash Flow

Archrock, inc. (AROC)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10
Cash flows from operating activities:
Net income (loss)
-61,187	46,044	20,407	11,423	19,456	12,968	9,974	4,149	2,069	49,142	-12,683	-4,036	-14,013	-46,079	-10,054	-2,384	-6,726	-142,830	-7,839	-14,998	39,970	-9,254	42,158	20,863	34,894	-1,950	45,261	24,504	58,791	3,096	119,346	-166,898	7,287	-64,383	-214,547	-30,224	-30,464	-128,271	-18,356	16,653	16,733
Adjustments to reconcile net income to cash provided by operating activities:
Loss from discontinued operations, net of tax
-	-	-	-	-273	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss from discontinued operations, net of tax
-	-	-	-	-	0	0	0	0	-	-	-	-	-	-	-	-	9,107	10,110	-19,328	33,788	51,275	18,003	17,769	18,727	82,123	15,121	-1,106	33,516	-30,887	110,916	-42,891	-1,162	1,203	-3,236	-3,873	-2,138	-7,318	-1,325	38,957	10,425
Depreciation and amortization
49,822	50,087	48,409	45,482	44,106	43,381	43,779	43,331	44,455	46,080	47,463	47,248	47,772	51,095	52,068	51,896	53,927	56,488	58,087	57,539	57,013	-83,466	98,256	111,956	85,522	-57,226	81,305	80,751	82,646	86,909	85,248	88,909	85,111	85,420	88,762	88,133	90,478	95,687	98,503	106,188	91,775
Goodwill impairment
99,830	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Long-lived asset impairment
6,195	25,842	7,097	8,632	3,092	9,804	6,660	6,953	4,710	8,284	7,105	5,508	8,245	47,054	16,713	13,808	9,860	87,383	19,933	9,510	8,153	16,789	12,385	9,847	3,807	-8,012	4,571	16,574	3,563	745	3,204	128,543	4,122	-	-	-	-	139,176	2,246	745	1,707
Inventory write-downs
282	238	170	270	222	415	167	553	465	735	681	494	490	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of operating lease ROU assets
781	780	726	713	712	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of deferred financing costs
1,533	1,642	1,528	1,532	1,509	1,509	1,510	1,509	1,585	1,536	1,536	1,734	2,170	1,536	2,016	1,614	1,105	1,827	1,475	1,509	1,618	1,292	1,414	1,707	1,581	1,575	1,573	1,574	2,968	1,452	1,452	1,453	2,886	1,620	2,964	1,443	2,950	1,570	1,196	1,257	1,280
Amortization of debt discount
187	184	181	179	366	361	355	350	344	339	334	333	319	318	314	309	304	299	295	290	286	281	278	5,458	6,363	6,078	6,015	5,747	5,567	5,303	5,249	5,011	4,960	4,735	4,686	4,486	4,416	4,236	4,181	3,994	3,953
Gain on sale of property, plant and equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,598	211	-	1,725	2	2,750	247	2,687	1,325	1,241
Equity in income of non-consolidated affiliates
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,951	4,909	4,693	-	4,778	4,722	4,665	4,623	4,793	4,728	37,339	-	-	-	-	-	-	-	-
Amortization of terminated interest rate swaps
-	-	-	-	-	0	0	107	184	203	281	31	37	45	55	62	80	342	837	907	977	1,060	1,117	1,154	1,199	1,280	1,342	1,052	500	585	2,270	3,945	3,888	5,286	5,259	4,873	4,849	-	-	-	-
Debt extinguishment loss
-	-	-	-	-	-	-	-	-	0	-582	0	291	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest rate swaps
-196	8	261	392	410	297	161	-70	-257	-155	-1,048	-475	-505	-475	-466	-326	-323	-334	-276	-129	136	-139	-107	-87	-64	-	-	-	-	-	-	-	-	-	-	-	-	-11	-183	-295	-262
(Gain) loss on remeasurement of intercompany balances
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2,766	2,801	81	-	-426	-4,044	3,575	-2,448	163	-10,008	4,887	-1,059	-14,141	2,839	-1,813	3,901	5,128	-1,340	-1,434
Stock-based compensation expense
3,006	1,960	2,276	1,512	2,357	1,821	1,804	1,969	1,794	2,344	2,042	1,922	2,153	1,863	1,903	1,915	3,288	3,245	1,778	2,523	2,483	-6,291	3,986	4,034	7,269	-5,704	3,735	4,256	4,131	3,538	3,541	3,864	4,438	4,519	5,173	4,864	5,462	5,970	5,582	6,365	5,349
Non-cash restructuring charges
61	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash restructuring charges
-	-	-	-	-	-	-	-	-	-248	422	366	457	-114	1,085	-1,994	3,181	1,515	0	1,000	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Provision for doubtful accounts
752	1,621	644	-93	428	156	636	288	620	2,191	1,698	842	369	544	702	976	1,378	1,697	1,144	24	298	133	304	306	1,081	-340	1,573	-290	-449	6,946	435	1,272	101	251	1,282	-644	599	1,050	530	2,219	950
(Gain) loss on sale of assets, net
944	6,372	7,859	1,801	-16	2,780	706	993	1,195	1,223	2,663	1,032	757	3,914	2,062	-420	443	602	-802	1,488	357	63	2,089	1,131	2,362	155	4,974	11,526	7,380	-	-	-	-	-	-	-	-	-	-	-	-
Gain on March 2020 Disposition
3,172	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on non-cash consideration in March 2016 Acquisition
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-635	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income tax benefit
-15,966	-39,267	1,489	1,064	-2,883	3,724	2,841	-1,622	295	-54,149	-4,112	-1,673	174	-12,065	-4,807	-4,399	-3,685	52,737	4,115	-3,056	-2,578	-18,136	-2,875	-619	-11,956	-34,302	4,251	8,255	2,359	-17,033	-7,269	-43,233	-9,729	30,783	-54,439	-20,200	-7,467	-82,232	-20,515	-11,500	-9,921
Amortization of contract costs
6,805	6,496	6,110	5,607	5,117	4,607	4,051	3,397	2,884	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred revenue recognized in earnings
7,700	8,800	8,300	12,451	12,749	11,008	6,146	6,074	5,200	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Changes in assets and liabilities:
Accounts receivable, trade
-4,803	-10,253	1,990	1,861	3,154	-563	11,133	14,997	-4,539	-2,946	11,125	8,835	-10,125	1,737	-7,772	-12,860	-13,508	10,256	-8,373	8,412	-19,318	-6,219	13,943	71,403	-42,018	14,172	-8,573	2,535	5,621	-66,083	7,080	140,225	-69,691	5,214	51,657	-4,735	2,825	-23,564	10,173	18,099	-39,409
Inventory
-1,068	-3,452	-424	1,564	-3,724	-410	-3,850	-1,137	1,187	-3,018	1,470	-230	2,014	-19,289	604	-7,016	-3,595	-12,615	-1,091	2,915	-1,198	-39,735	6,697	-5,142	8,540	-45,241	7,088	24,766	43,328	-17,948	-10,202	38,661	24,289	-21,978	-7,704	1,903	560	-9,333	-12,037	-64,314	-8,783
Other assets
439	8,814	-455	2,348	-15,165	16,500	-767	117	-601	774	-1,212	1,304	-145	832	-653	-3,903	-1,823	-1,321	-578	1,123	-466	-3,826	344	1,438	5,845	12,688	-12,442	-783	-155	6,584	-1,109	-8,610	-6,317	5,676	6,553	9,529	-5,408	1,667	4,424	-13,931	-10,112
Costs and estimated earnings versus billings on uncompleted contracts
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,776	-30,454	44,336	-	-23,433	54,774	63,833	-22,196	11,530	-83,322	49,629	-16,081	-8,355	39,026	7,011	-75,589	39,276	47,727	-14,324
Contract costs, net
5,537	6,262	6,847	7,554	6,574	7,145	9,292	7,920	8,078	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable and other liabilities
12,936	-21,724	2,894	4,971	1,131	-1,497	6,603	1,767	8,091	-10,842	18,319	3,714	-1,575	-7,781	16,649	-20,643	-10,110	-20,970	29,570	-9,619	393	-11,424	37,386	-8,558	-18,010	-39,227	-27,033	4,702	26,951	28,429	11,052	-679	-8,735	15,746	68,175	-15,067	-33,642	-23,462	31,693	26,918	-25,639
Deferred revenue
5,800	9,210	7,643	10,280	9,467	14,806	9,984	6,386	5,395	793	-249	114	72	1,080	-138	-262	-288	-1,439	-907	-7,390	7,335	21,346	5,140	-11,857	-15,728	-23,201	15,646	8,155	-2,704	-2,545	-1,026	23,715	-14,856	-53,311	7,394	-21,087	-10,317	-17,543	2,090	-33,011	-39,921
Other
-69	99	-46	-36	-29	47	53	-96	202	-38	91	-380	223	206	-291	-151	252	-27,568	16,680	-2,566	-2,517	1,940	2,140	3,239	667	-14,357	4,206	7,171	3,336	1,762	10,823	-9,434	2,639	20,579	12,042	6,269	-2,375	-14,792	2,633	5,335	1,874
Net cash provided by continuing operations
-	-	-	-	-	-	-	-	-	-	-	46,511	54,742	-	83,038	65,600	71,503	79,393	92,818	46,324	105,166	-60,151	156,031	67,284	52,853	-102,086	147,089	55,871	19,224	241,271	89,387	14,955	37,649	36,582	74,395	-32,320	25,452	123,240	56,374	88,613	107,050
Net cash used in discontinued operations
-	-	-	-	-	-	-	-	-	-	-	0	45	-	0	97	-164	33,613	35,671	6,354	29,468	159,399	1,488	1,427	1,039	229,551	534	2,002	3,518	4,271	1,269	112	1,011	9,562	4,782	1,328	662	-	-	-	-
Net cash provided by operating activities
99,129	66,522	74,962	67,263	81,400	55,242	65,490	42,760	62,455	50,609	49,757	46,511	54,787	54,241	83,038	65,697	71,339	113,006	128,489	52,678	134,634	99,248	157,519	68,711	53,892	127,465	147,623	57,873	22,742	245,542	90,656	15,067	38,660	46,144	79,177	-30,992	26,114	118,156	56,374	84,733	107,050
Cash flows from investing activities:
Capital expenditures
71,946	81,731	68,495	102,275	132,697	77,919	109,011	62,200	69,972	69,445	52,839	68,494	30,915	20,563	24,809	21,600	50,600	50,082	45,112	70,612	90,336	-1,898	147,529	138,996	99,214	-16,333	92,929	107,944	106,990	100,006	100,871	112,382	115,472	100,859	66,989	52,890	51,412	63,145	59,063	61,538	47,861
Proceeds from March 2020 Disposition
24,179	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of property, plant and equipment and other assets
2,543	25,287	33,720	10,799	11,155	9,866	4,868	4,348	14,845	24,273	13,792	3,123	5,766	14,828	10,116	12,771	4,177	2,431	2,200	8,826	5,310	-7,582	6,337	2,536	10,863	-3,931	12,867	56,166	14,945	7,993	1,963	16,248	9,785	5,956	6,453	3,134	27,499	-3,772	7,096	13,018	5,386
Proceeds from insurance and other settlements
1,083	866	2,154	438	238	0	0	116	136	252	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Escrow deposit for business acquisition
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	17,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid in Elite Acquisition
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	13,779	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Return of investments in non-consolidated affiliates
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,951	4,909	4,890	-	4,778	4,722	4,665	4,623	4,793	4,728	37,563	-	-	-	-	-	-	-	-
Increase in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1	1	147	15	-1	-635	120	-304	-5,494	-8,959	-4,022	5,545
Cash invested in non-consolidated affiliates
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	197	-	-	-	-	0	0	0	224	-	-	-	-	-	-	-	-
Net cash used in continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-47,651	-42,912	-61,786	-85,026	-19,992	-270,475	-475,317	-100,658	-1,763	-75,284	-47,056	-87,380	-87,389	-94,116	-91,553	-68,363	-	-	-	-	-171,049	66,357	-44,846	-48,020
Net cash used in discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-6,458	-29,011	-31,724	-24,311	-113,244	16,559	16,550	16,726	-43,417	29,114	-1,339	30,674	14,929	122,014	108	-1,081	-	-	-	-	5,084	0	39,509	50,000
Net cash used in investing activities
-44,141	-55,364	-246,854	-91,038	-121,304	-68,053	-104,143	-57,736	-54,991	-44,920	-39,047	-65,371	-25,149	-5,735	-14,693	-8,829	-60,202	-54,109	-71,923	-93,510	-109,337	-133,236	-253,916	-458,767	-83,932	-45,180	-46,170	-48,395	-56,706	-72,460	27,898	-91,445	-69,444	-100,099	-64,331	-51,145	-23,609	-165,965	66,357	-5,337	1,980
Cash flows from financing activities:
Borrowings of long-term debt
227,500	710,000	431,250	564,000	690,000	178,000	153,000	228,000	155,830	175,500	97,500	158,500	810,500	148,500	129,000	155,500	103,500	428,258	289,500	348,500	417,000	390,500	460,000	1,057,299	332,500	330,000	304,000	270,000	1,204,037	330,000	369,000	334,500	844,500	290,873	599,458	398,428	604,981	1,241,916	471,107	332,221	53,000
Repayments of long-term debt
259,500	685,500	235,250	522,000	629,000	165,000	97,000	197,000	146,636	152,194	148,000	153,000	817,000	179,000	221,000	194,000	81,000	915,258	303,500	306,500	396,500	321,500	355,000	795,500	255,500	399,500	388,500	262,499	1,145,251	476,018	472,517	245,056	913,048	231,593	599,320	438,297	766,961	1,320,314	585,319	398,821	173,943
Payments for debt issuance costs
596	13,597	0	1,308	7,521	0	0	1,016	2,316	0	0	396	14,459	61	222	1,890	222	3,390	1,399	0	1,311	-	-	-	-	218	0	556	11,373	462	0	24	525	177	7,666	0	980	-	-	-	-
Proceeds from (payments for) settlement of interest rate swaps that include financing elements
88	-	-	-	-393	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from (payments for) settlement of interest rate swaps that include financing elements
-	-	-	-	-	129	-146	2	205	380	364	460	581	714	754	778	812	913	938	935	942	949	950	981	913	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends paid to stockholders
22,171	22,031	22,062	17,206	17,231	17,156	17,114	15,486	8,532	8,535	8,536	8,534	8,458	8,459	6,699	6,711	13,052	10,417	10,424	10,403	10,340	10,272	10,057	10,001	9,989	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Distributions paid to noncontrolling partners in the Partnership
-	-	-	-	-	0	0	0	11,766	11,771	11,770	10,462	10,446	10,446	10,443	10,446	20,737	20,734	20,554	20,346	20,145	19,963	19,602	19,422	15,869	15,715	15,565	15,417	15,262	15,109	14,958	14,810	12,207	12,080	11,949	9,373	6,468	6,399	3,878	3,881	3,872
Net proceeds from sale of Partnership units
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-38	114,568	0	0	127,672	162,236	-	-	-	-
Proceeds from stock options exercised
-	-	-	-	-	-	-	-	-	0	53	0	939	0	0	0	0	0	101	433	572	1,182	870	2,247	8,520	2,346	186	3,213	2,576	-	-	-	-	0	39	248	239	72	112	314	342
Proceeds from stock issued under employee stock purchase plan
202	172	192	189	218	187	200	193	223	161	195	0	0	-	-	-	-	0	0	491	419	488	427	493	404	419	408	460	345	355	392	483	405	452	495	462	478	350	650	574	650
Purchases of treasury stock
799	0	1,150	0	857	31	687	0	1,041	580	28	0	2,180	555	211	10	739	214	35	58	3,678	672	57	966	5,349	945	79	147	3,368	530	50	85	1,757	485	41	49	2,366	51	39	301	1,670
Stock-based compensation excess tax benefit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	328	213	1,367	-2,118	449	1,350	6,470	-106	49	-285	1,311	929	2	14	194	198	20	-53	869	25	356	67	734
Contribution from Exterran Corporation
-	-	-	-	-	-	-	-	-	0	0	25,000	19,720	0	19,514	24,509	5,153	532,578	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by (used in) continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-47,025	12,663	-13,558	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-157	35	764	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by (used in ) financing activities
-55,452	-10,899	173,303	24,082	36,002	14,997	38,545	14,951	-14,443	2,201	-10,659	10,648	-21,965	-50,735	-90,815	-33,826	-7,909	-51,465	-47,182	12,698	-12,794	40,067	76,080	382,060	60,274	-83,714	-100,458	-5,545	33,015	-160,392	-118,012	74,984	32,130	47,188	-18,964	79,038	-7,972	12,930	-117,011	-69,827	-124,759
Net decrease in cash and cash equivalents
-464	259	1,411	307	-3,902	2,186	-108	-25	-6,979	7,890	51	-8,212	7,673	-2,229	-22,470	23,042	3,228	8,408	9,191	-28,686	12,272	5,951	-20,114	-7,587	25,825	-1,400	123	3,743	-1,403	12,530	692	-2,113	1,589	-7,316	-5,564	-2,747	-6,831	-34,813	7,518	6,446	-16,342
Effect of exchange rate changes on cash and cash equivalents
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-193	-552	-231	-128	203	409	-4,409	29	-872	-190	-454	-160	150	-719	243	-549	-1,446	352	-1,364	66	1,798	-3,123	-613
Less: Net increase in cash and cash equivalents - discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8,897	-28,401	12,089	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Supplemental disclosure of non-cash transactions:
Non-cash consideration in March 2016 Acquisition
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	3,165	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issuance of Archrock common stock pursuant to Elite Acquisition, net of tax
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	1,799	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Treasury shares issued for exercise of warrants
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	88	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-