Business Context and Reporting Period
This Form 8-K is filed by Exterran Holdings, Inc. (not Archrock, Inc.) on June 3, 2009. The report addresses a retrospective accounting change adopted as of January 1, 2009, to comply with Statement of Financial Accounting Standards No. 160 (SFAS No. 160) regarding the classification of noncontrolling interests.
Key Financial Metrics
The filing does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. It explicitly states that the adoption of SFAS No. 160 had no effect on:
- Net income attributable to controlling interests
- Earnings per share
- Cash flow
- Any asset or liability account
Updated historical consolidated financial information for the years ended December 31, 2008, 2007, and 2006 is included in Exhibit 99.1.
Material Changes Versus Prior Period
The only material change reported is the retrospective reclassification of "minority interest" to "noncontrolling interest" in the consolidated financial statements. This change affects presentation and classification only; it does not alter the underlying financial performance or position of the company.
Guidance, Outlook, and Risks
The filing contains no new guidance, outlook, or management commentary regarding future operations. It notes that disclosures have not been updated for events occurring after the filing of the Annual Report on Form 10-K (filed February 26, 2009). Investors are directed to read this report in conjunction with the unupdated portions of the 10-K.
Important Facts for Investor Verification
- Verify the updated financial statements in Exhibit 99.1 for the correct presentation of noncontrolling interests.
- Confirm that the registrant is Exterran Holdings, Inc., as the metadata reference to Archrock, Inc. is incorrect for this specific filing.
- Review the original Form 10-K for operational updates and risk factors not covered in this accounting adjustment report.