Archrock Inc
For the period ended Dec 31, 2023. Filed Feb 21, 2024.
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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.
FY2023 · Filed Feb 21, 2024
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.
| 2013 Plan | | 2013 Stock Incentive Plan |
|---|---|---|
| 2020 Plan | | 2020 Stock Incentive Plan |
| 2023 Share Repurchase Program | | Share repurchase program approved by our Board of Directors on April 27, 2023 that allows us to repurchase up to $50.0 million of outstanding common stock until April 27, 2024 |
| 2027 Notes | | $500.0 million of 6.875% senior notes due April 2027 |
| 2028 Notes | | $800.0 million of 6.25% senior notes due April 2028 |
| 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, 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 |
| 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 |
| COP28 | | 28th Conference of the Parties of the United Nations Framework Convention on Climate Change |
| Credit Facility | | $750.0 million 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 and 2028 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 | | January 2024 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 |
| FCA | | United Kingdom Financial Conduct Authority |
| 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 2023 Form 10–K |
| 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 |
| 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 |
| OECD | | Organisation for Economic Co-operation and Development |
| 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 |
| POTUS | | President of the United States of America |
| 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 |
| SOFR | | Secured Overnight Financing Rate |
| Spin–off | | Spin–off of our international contract operations, international aftermarket services and global fabrication businesses, completed in November 2015 into a standalone public company operating as Exterran Corporation |
| 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.