Long-Term Debt (Tables)

3 Months Ended

Mar. 31, 2018

Debt Disclosure [Abstract]

Schedule of long-term debt

The Archrock Credit Facility must maintain the following consolidated financial ratios, as defined in the Archrock Credit Facility agreement:

EBITDA to Interest Expense	2.25 to 1.0
Total Debt to EBITDA (1)	4.25 to 1.0

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⁽¹⁾  Subject to a temporary increase to 4.75 to 1.0 for any quarter during which an acquisition meeting certain thresholds is completed and for the following two quarters after the quarter in which the acquisition closes.

Long-term debt consisted of the following (in thousands):

	March 31, 2018			December 31, 2017
Credit Facility	$	52,500		$	56,000
Partnership Credit Facility	687,000			674,306
Partnership’s 6% senior notes due April 2021	350,000			350,000
Less: Debt discount, net of amortization	(2,344		)	(2,523		)
Less: Deferred financing costs, net of amortization	(3,082		)	(3,338		)
	344,574			344,139
Partnership’s 6% senior notes due October 2022	350,000			350,000
Less: Debt discount, net of amortization	(3,276		)	(3,441		)
Less: Deferred financing costs, net of amortization	(3,746		)	(3,951		)
	342,978			342,608
Long-term debt	$	1,427,052		$	1,417,053

The Partnership must maintain the following consolidated financial ratios, as defined in the Partnership Credit Facility agreement:

EBITDA to Interest Expense	2.5 to 1.0
Senior Secured Debt to EBITDA	3.5 to 1.0
Total Debt to EBITDA
Through fiscal year 2018	5.95 to 1.0
Through fiscal year 2019	5.75 to 1.0
Through second quarter of 2020	5.50 to 1.0
Thereafter (1)	5.25 to 1.0

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⁽¹⁾  Subject to a temporary increase to 5.5 to 1.0 for any quarter during which an acquisition meeting certain thresholds is completed and for the following two quarters after the quarter in which the acquisition closes.