Supplemental Guarantor Financial Information (Tables)

6 Months Ended

Jun. 30, 2013

Supplemental Guarantor Financial Information

Condensed Consolidating Balance Sheet

June 30, 2013

(In thousands)

	Parent		GuarantorSubsidiaries		OtherSubsidiaries		Eliminations			Consolidation
ASSETS
Current assets	$	51	$	806,027	$	529,903	$	—		$	1,335,981
Current assets associated with discontinued operations	—		—		23,290		—			23,290
Total current assets	51		806,027		553,193		—			1,359,271
Property, plant and equipment, net	—		1,171,225		1,664,622		—			2,835,847
Investments in affiliates	1,749,550		1,544,979		—		(3,294,529		)	—
Intangible and other assets, net	26,812		31,874		131,907		(16,071		)	174,522
Intercompany receivables	733,708		78,127		558,340		(1,370,175		)	—
Total long-term assets	2,510,070		2,826,205		2,354,869		(4,680,775		)	3,010,369
Total assets	$	2,510,121	$	3,632,232	$	2,908,062	$	(4,680,775	)	$	4,369,640
LIABILITIES AND EQUITY
Current liabilities	$	3,300	$	460,973	$	276,998	$	—		$	741,271
Current liabilities associated with discontinued operations	—		—		9,657		—			9,657
Total current liabilities	3,300		460,973		286,655		—			750,928
Long-term debt	927,841		324		714,682		—			1,642,847
Intercompany payables	—		1,292,048		78,127		(1,370,175		)	—
Other long-term liabilities	—		129,337		109,483		(16,071		)	222,749
Long-term liabilities associated with discontinued operations	—		—		938		—			938
Total liabilities	931,141		1,882,682		1,189,885		(1,386,246		)	2,617,462
Total equity	1,578,980		1,749,550		1,718,177		(3,294,529		)	1,752,178
Total liabilities and equity	$	2,510,121	$	3,632,232	$	2,908,062	$	(4,680,775	)	$	4,369,640

December 31, 2012

(In thousands)

	Parent		GuarantorSubsidiaries		OtherSubsidiaries		Eliminations			Consolidation
ASSETS
Current assets	$	142	$	754,303	$	461,810	$	(33	)	$	1,216,222
Current assets associated with discontinued operations	—		—		21,746		—			21,746
Total current assets	142		754,303		483,556		(33		)	1,237,968
Property, plant and equipment, net	—		1,299,797		1,542,234		—			2,842,031
Investments in affiliates	1,631,185		1,145,551		—		(2,776,736		)	—
Intangible and other assets, net	33,234		37,748		123,681		(19,815		)	174,848
Intercompany receivables	704,319		83,362		419,108		(1,206,789		)	—
Total long-term assets	2,368,738		2,566,458		2,085,023		(4,003,340		)	3,016,879
Total assets	$	2,368,880	$	3,320,761	$	2,568,579	$	(4,003,373	)	$	4,254,847
LIABILITIES AND EQUITY
Current liabilities	$	5,844	$	462,668	$	294,529	$	(74	)	$	762,967
Current liabilities associated with discontinued operations	—		—		11,572		—			11,572
Total current liabilities	5,844		462,668		306,101		(74		)	774,539
Long-term debt	884,423		—		680,500		—			1,564,923
Intercompany payables	—		1,123,427		83,362		(1,206,789		)	—
Other long-term liabilities	—		103,481		128,375		(19,774		)	212,082
Long-term liabilities associated with discontinued operations	—		—		1,044		—			1,044
Total liabilities	890,267		1,689,576		1,199,382		(1,226,637		)	2,552,588
Total equity	1,478,613		1,631,185		1,369,197		(2,776,736		)	1,702,259
Total liabilities and equity	$	2,368,880	$	3,320,761	$	2,568,579	$	(4,003,373	)	$	4,254,847

Condensed Consolidating Statement of Operations and Comprehensive Income (Loss)

Three Months Ended June 30, 2013

(In thousands)

	Parent			GuarantorSubsidiaries			OtherSubsidiaries			Eliminations			Consolidation
Revenues	$	—		$	514,181		$	380,966		$	(57,803	)	$	837,344
Costs of sales (excluding depreciation and amortization expense)	—			392,652			245,836			(57,803		)	580,685
Selling, general and administrative	58			44,833			46,226			—			91,117
Depreciation and amortization	—			31,436			49,315			—			80,751
Long-lived asset impairment	—			3,694			12,880			—			16,574
Interest expense	18,900			833			10,517			—			30,250
Intercompany charges, net	(8,999		)	7,111			1,888			—			—
Equity in income of affiliates	(15,817		)	(101		)	(4,722		)	15,918			(4,722		)
Other (income) expense, net	10			390			(7,639		)	—			(7,239		)
Income before income taxes	5,848			33,333			26,665			(15,918		)	49,928
Provision for (benefit from) income taxes	(3,487		)	17,516			9,820			—			23,849
Income from continuing operations	9,335			15,817			16,845			(15,918		)	26,079
Loss from discontinued operations, net of tax	—			—			(1,575		)	—			(1,575		)
Net income	9,335			15,817			15,270			(15,918		)	24,504
Less: Net income attributable to the noncontrolling interest	—			—			(15,169		)	—			(15,169		)
Net income attributable to Exterran stockholders	9,335			15,817			101			(15,918		)	9,335
Other comprehensive income attributable to Exterran stockholders	2,793			3,120			3,109			(6,229		)	2,793
Comprehensive income attributable to Exterran stockholders	$	12,128		$	18,937		$	3,210		$	(22,147	)	$	12,128

Three Months Ended June 30, 2012

(In thousands)

	Parent			GuarantorSubsidiaries			OtherSubsidiaries			Eliminations			Consolidation
Revenues	$	—		$	411,262		$	257,037		$	(37,564	)	$	630,735
Costs of sales (excluding depreciation and amortization expense)	—			315,099			158,865			(37,564		)	436,400
Selling, general and administrative	133			45,184			48,817			—			94,134
Depreciation and amortization	—			34,278			54,631			—			88,909
Long-lived asset impairment	—			97,626			30,917			—			128,543
Restructuring charges	—			746			520			—			1,266
Interest expense	26,554			3,743			6,671			—			36,968
Intercompany charges, net	(16,595		)	16,149			446			—			—
Equity in (income) loss of affiliates	146,205			85,477			(4,728		)	(231,682		)	(4,728		)
Other (income) expense, net	10			(1,945		)	10,687			—			8,752
Loss before income taxes	(156,307		)	(185,095		)	(49,789		)	231,682			(159,509		)
Provision for (benefit from) income taxes	(3,699		)	(38,890		)	7,087			—			(35,502		)
Loss from continuing operations	(152,608		)	(146,205		)	(56,876		)	231,682			(124,007		)
Loss from discontinued operations, net of tax	—			—			(42,891		)	—			(42,891		)
Net loss	(152,608		)	(146,205		)	(99,767		)	231,682			(166,898		)
Less: Net loss attributable to the noncontrolling interest	—			—			14,290			—			14,290
Net loss attributable to Exterran stockholders	(152,608		)	(146,205		)	(85,477		)	231,682			(152,608		)
Other comprehensive loss attributable to Exterran stockholders	(259		)	(1,103		)	(4,391		)	5,494			(259		)
Comprehensive loss attributable to Exterran stockholders	$	(152,867	)	$	(147,308	)	$	(89,868	)	$	237,176		$	(152,867	)

Six months Ended June 30, 2013

(In thousands)

	Parent			GuarantorSubsidiaries			OtherSubsidiaries			Eliminations			Consolidation
Revenues	$	—		$	1,049,608		$	759,837		$	(160,724	)	$	1,648,721
Costs of sales (excluding depreciation and amortization expense)	—			822,100			505,406			(160,724		)	1,166,782
Selling, general and administrative	160			90,522			85,414			—			176,096
Depreciation and amortization	—			65,468			97,929			—			163,397
Long-lived asset impairment	—			5,589			14,548			—			20,137
Interest expense	38,923			1,318			17,883			—			58,124
Intercompany charges, net	(18,084		)	15,258			2,826			—			—
Equity in income of affiliates	(73,520		)	(53,289		)	(9,387		)	126,809			(9,387		)
Other (income) expense, net	19			(6,617		)	(10,450		)	—			(17,048		)
Income before income taxes	52,502			109,259			55,668			(126,809		)	90,620
Provision for (benefit from) income taxes	(7,038		)	35,739			10,299			—			39,000
Income from continuing operations	59,540			73,520			45,369			(126,809		)	51,620
Income from discontinued operations, net of tax	—			—			31,675			—			31,675
Net income	59,540			73,520			77,044			(126,809		)	83,295
Less: Net income attributable to the noncontrolling interest	—			—			(23,755		)	—			(23,755		)
Net income attributable to Exterran stockholders	59,540			73,520			53,289			(126,809		)	59,540
Other comprehensive loss attributable to Exterran stockholders	(2,650		)	(2,215		)	(1,754		)	3,969			(2,650		)
Comprehensive income attributable to Exterran stockholders	$	56,890		$	71,305		$	51,535		$	(122,840	)	$	56,890

Six months Ended June 30, 2012

(In thousands)

	Parent			GuarantorSubsidiaries			OtherSubsidiaries			Eliminations			Consolidation
Revenues	$	—		$	741,253		$	604,614		$	(99,891	)	$	1,245,976
Costs of sales (excluding depreciation and amortization expense)	—			572,219			389,531			(99,891		)	861,859
Selling, general and administrative	341			94,535			94,097			—			188,973
Depreciation and amortization	—			70,541			103,479			—			174,020
Long-lived asset impairment	—			100,542			32,123			—			132,665
Restructuring charges	—			2,948			1,365			—			4,313
Interest expense	55,237			6,796			12,926			—			74,959
Intercompany charges, net	(33,870		)	30,951			2,919			—			—
Equity in (income) loss of affiliates	132,903			47,656			(42,067		)	(180,559		)	(42,067		)
Other (income) expense, net	20			(3,996		)	6,633			—			2,657
Income (loss) before income taxes	(154,631		)	(180,939		)	3,608			180,559			(151,403		)
Provision for (benefit from) income taxes	(7,518		)	(48,036		)	19,709			—			(35,845		)
Loss from continuing operations	(147,113		)	(132,903		)	(16,101		)	180,559			(115,558		)
Loss from discontinued operations, net of tax	—			—			(44,053		)	—			(44,053		)
Net loss	(147,113		)	(132,903		)	(60,154		)	180,559			(159,611		)
Less: Net loss attributable to the noncontrolling interest	—			—			12,498			—			12,498
Net loss attributable to Exterran stockholders	(147,113		)	(132,903		)	(47,656		)	180,559			(147,113		)
Other comprehensive income (loss) attributable to Exterran stockholders	6,269			4,053			(3,160		)	(893		)	6,269
Comprehensive loss attributable to Exterran stockholders	$	(140,844	)	$	(128,850	)	$	(50,816	)	$	179,666		$	(140,844	)

Condensed Consolidating Statement of Cash Flows

Six months Ended June 30, 2013

(In thousands)

	Parent			GuarantorSubsidiaries			OtherSubsidiaries			Eliminations			Consolidation
Cash flows from operating activities:
Net cash provided by (used in) continuing operations	$	(3,235	)	$	40,425		$	38,901		$	—		$	76,091
Net cash provided by discontinued operations	—			—			4,524			—			4,524
Net cash provided by (used in) operating activities	(3,235		)	40,425			43,425			—			80,615
Cash flows from investing activities:
Capital expenditures	—			(115,664		)	(102,648		)	3,378			(214,934		)
Proceeds from sale of property, plant and equipment	—			16,934			57,555			(3,378		)	71,111
Capital distributions received from consolidated subsidiaries	—			20,250			—			(20,250		)	—
Return of investments in non-consolidated affiliates	—			—			9,387			—			9,387
Investment in consolidated subsidiaries	—			(9,454		)	—			9,454			—
Net cash used in continuing operations	—			(87,934		)	(35,706		)	(10,796		)	(134,436		)
Net cash provided by discontinued operations	—			—			29,335			—			29,335
Net cash used in investing activities	—			(87,934		)	(6,371		)	(10,796		)	(105,101		)
Cash flows from financing activities:
Proceeds from borrowings of long-term debt	631,501			—			842,536			—			1,474,037
Repayments of long-term debt	(599,250		)	—			(808,500		)	—			(1,407,750		)
Payments for debt issuance costs	—			—			(11,929		)	—			(11,929		)
Payments for settlement of interest rate swaps that include financing element	—			—			(314		)	—			(314		)
Proceeds from stock options exercised	5,789			—			—			—			5,789
Proceeds from stock issued pursuant to our employee stock purchase plan	805			—			—			—			805
Purchases of treasury stock	(3,515		)	—			—			—			(3,515		)
Stock-based compensation excess tax benefit	1,026			—			—			—			1,026
Distributions to noncontrolling partners in the Partnership	—			—			(50,929		)	20,250			(30,679		)
Capital contributions received from parent	—			—			9,454			(9,454		)	—
Borrowings (repayments) between consolidated subsidiaries, net	(33,107		)	39,726			(6,619		)	—			—
Net cash provided by (used in) financing activities	3,249			39,726			(26,301		)	10,796			27,470
Effect of exchange rate changes on cash and cash equivalents	—			—			(644		)	—			(644		)
Net increase (decrease) in cash and cash equivalents	14			(7,783		)	10,109			—			2,340
Cash and cash equivalents at beginning of period	24			10,461			24,116			—			34,601
Cash and cash equivalents at end of period	$	38		$	2,678		$	34,225		$	—		$	36,941

Six months Ended June 30, 2012

(In thousands)

	Parent			Guarantor Subsidiaries			Other Subsidiaries			Eliminations			Consolidation
Cash flows from operating activities:
Net cash provided by (used in) continuing operations	$	2,324		$	(11,787	)	$	62,067		$	—		$	52,604
Net cash provided by discontinued operations	—			—			1,123			—			1,123
Net cash provided by (used in) operating activities	2,324			(11,787		)	63,190			—			53,727
Cash flows from investing activities:
Capital expenditures	—			(143,969		)	(83,885		)	—			(227,854		)
Contract operations acquisition	—			77,415			(77,415		)	—			—
Proceeds from sale of property, plant and equipment	—			7,719			18,314			—			26,033
Capital distributions received from consolidated subsidiaries	—			15,043			—			(15,043		)	—
Increase in restricted cash	—			—			(162		)	—			(162		)
Return of investments in non-consolidated subsidiaries	—			—			42,291			—			42,291
Cash invested in non-consolidated affiliates	—			—			(224		)	—			(224		)
Investment in consolidated subsidiaries	—			(16,552		)	—			16,552			—
Net cash used in continuing operations	—			(60,344		)	(101,081		)	1,509			(159,916		)
Net cash used in discontinued operations	—			—			(973		)	—			(973		)
Net cash used in investing activities	—			(60,344		)	(102,054		)	1,509			(160,889		)
Cash flows from financing activities:
Proceeds from borrowings of long-term debt	570,000			—			609,000			—			1,179,000
Repayments of long-term debt	(541,650		)	—			(616,454		)	—			(1,158,104		)
Payments for debt issuance costs	—			—			(549		)	—			(549		)
Net proceeds from the sale of Partnership units	—			—			114,530			—			114,530
Proceeds from stock issued pursuant to our employee stock purchase plan	888			—			—			—			888
Purchases of treasury stock	(1,842		)	—			—			—			(1,842		)
Stock-based compensation excess tax benefit	208			—			—			—			208
Distributions to noncontrolling partners in the Partnership	—			—			(42,060		)	15,043			(27,017		)
Net proceeds from sale of general partner units	—			—			2,426			(2,426		)	—
Capital contributions received from parent	—			—			14,126			(14,126		)	—
Borrowings (repayments) between consolidated  subsidiaries, net	(29,744		)	69,909			(40,165		)	—			—
Net cash provided by (used in) financing activities	(2,140		)	69,909			40,854			(1,509		)	107,114
Effect of exchange rate changes on cash and cash equivalents	—			—			(476		)	—			(476		)
Net increase (decrease) in cash and cash equivalents	184			(2,222		)	1,514			—			(524		)
Cash and cash equivalents at beginning of period	93			2,810			19,000			—			21,903
Cash and cash equivalents at end of period	$	277		$	588		$	20,514		$	—		$	21,379