0001522727-23-000019 | 10-Q | XBRL Viewer | USA Compression Partners LP

Partners’ Capital (Deficit) (Tables)

6 Months Ended

Jun. 30, 2023

Summary of change in common units outstanding

The change in common units outstanding was as follows:


			Common Units Outstanding
Number of common units outstanding, December 31, 2022			98,227,656

Issuance of common units under the DRIP			50,800

Number of common units outstanding, June 30, 2023			98,278,456

Schedule of distributions (in millions, except distribution per unit)

We have declared and paid per-unit quarterly distributions to our limited partner unitholders of record, including holders of our common and phantom units, as follows (dollars in millions, except distribution per unit):


Payment Date	Distribution per Limited Partner Unit		Amount Paid to Common Unitholders		Amount Paid to Phantom Unitholders		Total Distribution
February 4, 2022	$	0.525	$	51.1	$	1.2	$	52.3
May 6, 2022	0.525		51.1		1.2		52.3
August 5, 2022	0.525		51.4		1.1		52.5
November 4, 2022	0.525		51.5		1.0		52.5
Total 2022 distributions	$	2.10	$	205.1	$	4.5	$	209.6

February 3, 2023	$	0.525	$	51.6	$	1.1	$	52.7
May 5, 2023	0.525		51.6		1.1		52.7

Total 2023 distributions	$	1.05	$	103.2	$	2.2	$	105.4

Derivative Instrument

6 Months Ended

Jun. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments

Derivative Instrument

In April 2023, we entered into an interest-rate swap to manage interest-rate risk associated with the floating-rate Credit Agreement. The interest-rate swap’s notional principal amount is $700 million and has a mandatory termination date in April 2025. Under the interest-rate swap, we pay a fixed interest rate of 3.785% and receive floating interest rate payments that are indexed to the one-month SOFR.

We do not apply hedge accounting to our currently outstanding derivative. Our derivative is carried on the unaudited condensed consolidated balance sheets at fair value and are classified as current or long-term depending on the expected timing of settlement, and gains and losses associated with the derivative instrument is recognized currently in gain on derivative instrument within the unaudited condensed consolidated statements of operations. Cash flows related to cash settlements for the periods presented are classified as operating activities within the unaudited condensed consolidated statements of cash flows.

The following table summarizes the location and fair value of our derivative instrument on our unaudited condensed consolidated balance sheets (in thousands):


Balance Sheet Classification	June 30, 2023		December 31, 2022
Derivative instrument	$	10,294	$	—
Derivative instrument, long term	3,040		—

The following table summarizes the location and amounts recognized related to our derivative instrument within our unaudited condensed consolidated statements of operations (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
Income Statement Classification	2023		2022		2023		2022
Gain on derivative instrument	$	14,550	$	—	$	14,550	$	—

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net income	$ 34,525	$ 12,340
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	119,525	118,023
Provision for expected credit losses	0	(700)
Amortization of debt issuance costs	3,641	3,637
Unit-based compensation expense	9,628	6,708
Deferred income tax expense (benefit)	19	(183)
Loss (gain) on disposition of assets	(67)	852
Change in fair value of derivative instrument	(13,334)	0
Impairment of compression equipment	11,464	432
Changes in assets and liabilities:
Accounts receivable and related-party receivables, net	(5,811)	(4,598)
Inventories	(31,818)	(11,159)
Prepaid expenses and other current assets	(1,364)	(3,009)
Other assets	2,148	1,562
Accounts payable	583	(1,452)
Accrued liabilities and deferred revenue	1,070	6,829
Net cash provided by operating activities	130,209	129,282
Cash flows from investing activities:
Capital expenditures, net	(106,402)	(43,818)
Proceeds from disposition of property and equipment	1,093	764
Proceeds from insurance recovery	0	184
Net cash used in investing activities	(105,309)	(42,870)
Cash flows from financing activities:
Proceeds from revolving credit facility	511,766	382,884
Payments on revolving credit facility	(407,283)	(340,562)
Deferred financing costs	(379)	(549)
Other	(226)	(274)
Net cash used in financing activities	(24,904)	(86,412)
Decrease in cash and cash equivalents	(4)	0
Cash and cash equivalents, beginning of period	35	0
Cash and cash equivalents, end of period	31	0
Supplemental cash flow information:
Cash paid for interest, net of capitalized amounts	78,181	60,239
Cash paid for income taxes	887	798
Supplemental non-cash transactions:
Non-cash distributions to certain common unitholders (DRIP)	1,040	1,024
Transfers from inventories to property and equipment, net	24,053	6,692
Changes in capital expenditures included in accounts payable and accrued liabilities	1,125	11,023
Changes in financing costs included in accounts payable and accrued liabilities	6	(265)
Exercise and conversion of warrants into common units	0	5,167
Common units
Cash flows from financing activities:
Cash distributions	(104,407)	(103,536)
Preferred Units
Cash flows from financing activities:
Cash distributions	$ (24,375)	$ (24,375)

Partners’ Capital (Deficit) - Loss per Unit (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Phantom units
Partners' Capital
Basic and diluted weighted average common units outstanding difference (in shares)	1,177		1,118
Warrants
Partners' Capital
Basic and diluted weighted average common units outstanding difference (in shares)	246		361
Phantom units
Partners' Capital
Antidilutive securities excluded from computation of loss per share (in shares)		1,051		928
Warrants
Partners' Capital
Antidilutive securities excluded from computation of loss per share (in shares)		157		85

Property and Equipment, Identifiable Intangible Assets and Goodwill - Narrative (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023 USD ($) equipment hp	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) equipment hp	Jun. 30, 2022 USD ($) equipment hp	Dec. 31, 2022 USD ($)
Property and Equipment
Number of compressor units that are to be retired \| equipment	33		39	10
Number of horsepower that are to be retired \| hp	26,900		35,600	1,400
Impairment of long-lived assets	$ 10,273	$ 0	$ 11,464	$ 432
Accumulated amortization	290,300		290,300		$ 275,600
Compression and treating equipment
Property and Equipment
Impairment of long-lived assets	$ 10,300	$ 0	$ 11,500	$ 400

Transactions with Related Parties (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Transactions with Related Parties
Revenue from related party	$ 206,920	$ 171,461	$ 404,044	$ 334,873
USA Compression Partners, LP \| Energy Transfer LP
Transactions with Related Parties
Ownership interest percentage			47.00%
USA Compression GP, LLC \| Energy Transfer LP
Transactions with Related Parties
Ownership interest percentage			100.00%
Entities Affiliated With Energy Transfer LP
Transactions with Related Parties
Revenue from related party	5,836	$ 3,887	$ 10,543	$ 7,705
Receivables from related party	$ 2,900		$ 2,900		$ 52

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

Revenue Recognition (Tables)

6 Months Ended

Jun. 30, 2023

Revenue from Contract with Customer [Abstract]

Disaggregation of revenue

The following table disaggregates our revenue by type of service (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Contract operations revenue	$	202,403	$	167,853	$	395,545	$	329,339
Retail parts and services revenue	4,517		3,608		8,499		5,534
Total revenues	$	206,920	$	171,461	$	404,044	$	334,873

The following table disaggregates our revenue by timing of provision of services or transfer of goods (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Services provided over time:
Primary term	$	156,744	$	118,248	$	305,470	$	226,545
Month-to-month	45,659		49,605		90,075		102,794
Total services provided over time	202,403		167,853		395,545		329,339
Services provided or goods transferred at a point in time	4,517		3,608		8,499		5,534
Total revenues	$	206,920	$	171,461	$	404,044	$	334,873

Summary of deferred revenue

Components of deferred revenue were as follows (in thousands):


	Balance sheet location	June 30, 2023		December 31, 2022
Current (1)	Deferred revenue	$	62,981	$	62,345
Noncurrent	Other liabilities	1,303		2,789
Total		$	64,284	$	65,134

________________________________

(1)We recognized $3.9 million and $56.9 million of revenue during the three and six months ended June 30, 2023, respectively, related to our deferred revenue balance as of December 31, 2022.

Expected timing of recognizing remaining performance obligations

We expect to recognize these remaining performance obligations as follows (in thousands):


	2023 (remainder)		2024		2025		2026		Thereafter		Total
Remaining performance obligations	$	267,744	$	314,250	$	115,079	$	70,762	$	46,587	$	814,422

Trade Accounts Receivable - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Receivables [Abstract]
Allowance for credit losses		$ 1,237		$ 1,164
Expense (reversal) of provision	$ (200)	$ 0	$ (700)

Preferred Units

6 Months Ended

Jun. 30, 2023

Preferred Units and Warrants

Preferred Units

We had 500,000 Preferred Units outstanding as of June 30, 2023, and December 31, 2022, respectively, with a face value of $1,000 per Preferred Unit.

The Preferred Units rank senior to our common units with respect to distributions and liquidation rights. The holders of the Preferred Units are entitled to receive cumulative quarterly cash distributions equal to $24.375 per Preferred Unit.

We have declared and paid per-unit quarterly cash distributions to the holders of the Preferred Units of record as follows:


Payment Date	Distribution per Preferred Unit
February 4, 2022	$	24.375
May 6, 2022	24.375
August 5, 2022	24.375
November 4, 2022	24.375
Total 2022 distributions	$	97.50

February 3, 2023	$	24.375
May 5, 2023	24.375

Total 2023 distributions	$	48.75

Announced Quarterly Distribution

On July 13, 2023, we declared a cash distribution of $24.375 per unit on our Preferred Units. The distribution will be paid on August 4, 2023, to the holders of the Preferred Units of record as of the close of business on July 24, 2023.

Changes in the Preferred Units’ balance are as follows (in thousands):


	Preferred Units
Balance as of December 31, 2022	$	477,309
Net income allocated to Preferred Units	24,375
Cash distributions on Preferred Units	(24,375)
Balance as of June 30, 2023	$	477,309

Redemption and Conversion Features

As of April 2, 2023, 100% of the Preferred Units are convertible, at the option of the holder, into common units in accordance with the terms of our Second Amended and Restated Agreement of Limited Partnership (the “Partnership Agreement”). The conversion rate for the Preferred Units is the quotient of (i) the sum of (a) $1,000, plus (b) any unpaid cash distributions on the applicable Preferred Unit, divided by (ii) $20.0115 for each Preferred Unit.

As of April 2, 2023, we have the option to redeem all or any portion of the Preferred Units then outstanding, subject to certain minimum redemption threshold amounts, for a redemption price set forth in the Partnership Agreement. On or after April 2, 2028, each holder of the Preferred Units will have the right to require us to redeem all or a portion of their Preferred Units, subject to certain minimum redemption threshold amounts, for a redemption price set forth in the Partnership Agreement, which we may elect to pay up to 50% in common units, subject to certain additional limits.

Revenue Recognition - Contract Asset and Deferred Revenue (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Deferred revenue	$ 62,981	$ 62,981	$ 62,345
Other liabilities	1,303	1,303	2,789
Total	64,284	64,284	$ 65,134
Revenue recognized related to deferred revenue	$ 3,900	$ 56,900

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Inventories

6 Months Ended

Jun. 30, 2023

Inventory Disclosure [Abstract]

Inventories

Components of inventories are as follows (in thousands):


	June 30, 2023		December 31, 2022
Serialized parts	$	49,914	$	46,923
Non-serialized parts	51,505		46,831
Total inventories	$	101,419	$	93,754

Long-term Debt - Narrative (Details)	6 Months Ended
Long-term Debt - Narrative (Details)	Jun. 30, 2023 USD ($)	Oct. 01, 2023 USD ($)	Sep. 30, 2023 USD ($)	Jul. 01, 2022	Dec. 08, 2021
USA Compression Partners, LP
Long-term Debt
Ownership interest percentage	100.00%
Revolving credit facility
Long-term Debt
Maximum borrowing capacity	$ 1,600,000,000
Outstanding borrowings	750,400,000
Borrowing base availability	849,600,000
Line of credit facility, current borrowing capacity	$ 327,600,000
Effective interest rate	7.74%
Weighted average interest rate	7.40%
Letters of credit	$ 0
Commitment fee percentage	0.375%
Minimum EBITDA to interest coverage ratio	2.5
Maximum funded debt to EBITDA ratio				5.50
Increase in maximum funded debt to EBITDA ratio in connection with certain future acquisitions					0.25
Debt instrument covenant maximum funded debt to EBITDA ratio with specified acquisition	5.50
Revolving credit facility \| Minimum
Long-term Debt
Debt Instrument Secured Indebtedness To EBITDA Ratio					0.0
Revolving credit facility \| Maximum
Long-term Debt
Debt Instrument Secured Indebtedness To EBITDA Ratio					3.0
Revolving credit facility \| Forecast
Long-term Debt
Capacity available for repayment of debt		$ 100,000,000	$ 250,000,000
Maximum funded debt to EBITDA ratio		5.25
Senior Notes 2026
Long-term Debt
Effective interest rate	6.875%
Senior Notes 2027
Long-term Debt
Effective interest rate	6.875%

Derivative Instrument - Fair value of our derivative instrument (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative instrument	$ 10,294	$ 0
Derivative instrument, long term	$ 3,040	$ 0

Trade Accounts Receivable	6 Months Ended
Trade Accounts Receivable	Jun. 30, 2023
Receivables [Abstract]
Trade Accounts Receivable	Trade Accounts Receivable The allowance for credit losses, which was $1.2 million at both June 30, 2023, and December 31, 2022, represents our best estimate of the amount of probable credit losses included within our existing accounts receivable balance. For the three and six months ended June 30, 2022, we recognized reversals of $0.2 million and $0.7 million, respectively, to our provision for expected credit losses. Favorable market conditions for customers, attributable to sustained increases in commodity prices, was the primary factor supporting the recorded decrease to the allowance for credit losses for the three and six months ended June 30, 2022.

Partners’ Capital (Deficit) - Change in Common Units Outstanding (Details)	6 Months Ended
	Jun. 30, 2023 shares
Increase (Decrease) in Partners' Capital
Beginning balance (in shares)	98,227,656
Issuance of common units under the DRIP (in shares)	50,800
Ending balance (in shares)	98,278,456

Long-term Debt (Tables)

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

Schedule of long-term debt

Our long-term debt, of which there is no current portion, consisted of the following (in thousands):


	June 30, 2023		December 31, 2022
Senior Notes 2026, aggregate principal	$	725,000	$	725,000
Senior Notes 2027, aggregate principal	750,000		750,000
Less: deferred financing costs, net of amortization	(12,647)		(14,307)
Total senior notes, net	1,462,353		1,460,693
Revolving credit facility	750,439		645,956
Total long-term debt, net	$	2,212,792	$	2,106,649

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

Commitments and Contingencies (Details) $ in Millions	3 Months Ended	6 Months Ended
Commitments and Contingencies (Details) $ in Millions	Jun. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)
Other commitments
Purchase obligation	$ 121.4	$ 121.4
Purchase obligation, to be paid in the remaining of current fiscal year	$ 95.7	$ 95.7
Revenue from Contract with Customer Benchmark \| Customer Concentration Risk \| One Unnamed Customer
Other commitments
Customer concentration risk	10.00%	10.00%
Minimum \| Oklahoma Tax Commission
Other commitments
Income tax examination, estimate of possible loss		$ 0.0
Minimum \| Internal Revenue Service (IRS)
Other commitments
Income tax examination, estimate of possible loss		0.0
Maximum \| Oklahoma Tax Commission
Other commitments
Income tax examination, estimate of possible loss		26.0
Maximum \| Internal Revenue Service (IRS)
Other commitments
Income tax examination, estimate of possible loss		$ 25.0

Organization and Description of Business	6 Months Ended
Organization and Description of Business	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	Organization and Description of Business Unless otherwise indicated, the terms “our,” “we,” “us,” “the Partnership,” and similar language refer to USA Compression Partners, LP, collectively with its consolidated subsidiaries. We are a Delaware limited partnership. Through our operating subsidiaries, we provide natural gas compression services to customers under fixed-term contracts in the natural gas and crude oil industries, using compression packages that we design, engineer, own, operate, and maintain. We also own and operate a fleet of equipment used to provide natural gas treating services, such as carbon dioxide and hydrogen sulfide removal, cooling, and dehydration. We provide compression services in shale plays throughout the U.S., including the Utica, Marcellus, Permian Basin, Delaware Basin, Eagle Ford, Mississippi Lime, Granite Wash, Woodford, Barnett, Haynesville, Niobrara, and Fayetteville shales. USA Compression GP, LLC, a Delaware limited liability company, serves as our general partner and is referred to herein as the “General Partner.” The General Partner is wholly owned by Energy Transfer. The accompanying unaudited condensed consolidated financial statements include the accounts of the Partnership and its subsidiaries, all of which are wholly owned by us.

Unaudited Condensed Consolidated Statements of Changes in Partners’ Capital (Deficit) (Parenthetical) - $ / shares	3 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022
Common units
Distribution and DERs (in dollars per share)	$ 0.525	$ 0.525	$ 0.525	$ 0.525

Preferred Units - Summary of Changes in Preferred Units (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($)
Increase (Decrease) in Temporary Equity [Roll Forward]
Beginning balance	$ 477,309
Ending balance	477,309
Series A Preferred Units
Increase (Decrease) in Temporary Equity [Roll Forward]
Beginning balance	477,309
Net income allocated to Preferred Units	24,375
Cash distributions on Preferred Units	(24,375)
Ending balance	$ 477,309

Revenue Recognition

6 Months Ended

Jun. 30, 2023

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Disaggregation of Revenue

The following table disaggregates our revenue by type of service (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Contract operations revenue	$	202,403	$	167,853	$	395,545	$	329,339
Retail parts and services revenue	4,517		3,608		8,499		5,534
Total revenues	$	206,920	$	171,461	$	404,044	$	334,873

The following table disaggregates our revenue by timing of provision of services or transfer of goods (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Services provided over time:
Primary term	$	156,744	$	118,248	$	305,470	$	226,545
Month-to-month	45,659		49,605		90,075		102,794
Total services provided over time	202,403		167,853		395,545		329,339
Services provided or goods transferred at a point in time	4,517		3,608		8,499		5,534
Total revenues	$	206,920	$	171,461	$	404,044	$	334,873

Deferred Revenue

We record deferred revenue when cash payments are received or due in advance of our performance. Components of deferred revenue were as follows (in thousands):


	Balance sheet location	June 30, 2023		December 31, 2022
Current (1)	Deferred revenue	$	62,981	$	62,345
Noncurrent	Other liabilities	1,303		2,789
Total		$	64,284	$	65,134

________________________________

(1)We recognized $3.9 million and $56.9 million of revenue during the three and six months ended June 30, 2023, respectively, related to our deferred revenue balance as of December 31, 2022.

Performance Obligations

As of June 30, 2023, the aggregate amount of transaction price allocated to unsatisfied performance obligations related to our contract operations revenue was $814.4 million. We expect to recognize these remaining performance obligations as follows (in thousands):


	2023 (remainder)		2024		2025		2026		Thereafter		Total
Remaining performance obligations	$	267,744	$	314,250	$	115,079	$	70,762	$	46,587	$	814,422

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

Partners’ Capital (Deficit) - Cash Distributions (Details) - Cash Distributions - USD ($) $ / shares in Units, $ in Millions							6 Months Ended	12 Months Ended
	May 05, 2023	Feb. 03, 2023	Nov. 04, 2022	Aug. 05, 2022	May 06, 2022	Feb. 04, 2022	Jun. 30, 2023	Dec. 31, 2022
Cash Distributions
Total distribution	$ 52.7	$ 52.7	$ 52.5	$ 52.5	$ 52.3	$ 52.3	$ 105.4	$ 209.6
Phantom Unitholders
Cash Distributions
Total distribution	$ 1.1	$ 1.1	$ 1.0	$ 1.1	$ 1.2	$ 1.2	$ 2.2	$ 4.5
Limited partner \| Common units
Cash Distributions
Distribution per limited partner unit (in dollars per share)	$ 0.525	$ 0.525	$ 0.525	$ 0.525	$ 0.525	$ 0.525	$ 1.05	$ 2.10
Total distribution	$ 51.6	$ 51.6	$ 51.5	$ 51.4	$ 51.1	$ 51.1	$ 103.2	$ 205.1

Revenue Recognition - Performance Obligation (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 814,422
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 267,744
Remaining performance obligation, expected timing of satisfaction, period	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 314,250
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 115,079
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 70,762
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 46,587
Remaining performance obligation, expected timing of satisfaction, period

Property and Equipment, Identifiable Intangible Assets and Goodwill - Property, Plant and Equipment Useful Lives (Details)	Jun. 30, 2023
Compression and treating equipment, acquired new
Property and Equipment
Estimated useful lives	25 years
Buildings
Property and Equipment
Estimated useful lives	5 years
Leasehold improvements
Property and Equipment
Estimated useful lives	5 years
Minimum \| Compression and treating equipment, acquired used
Property and Equipment
Estimated useful lives	5 years
Minimum \| Furniture and fixtures
Property and Equipment
Estimated useful lives	3 years
Minimum \| Vehicles and computer equipment
Property and Equipment
Estimated useful lives	1 year
Maximum \| Compression and treating equipment, acquired used
Property and Equipment
Estimated useful lives	25 years
Maximum \| Furniture and fixtures
Property and Equipment
Estimated useful lives	10 years
Maximum \| Vehicles and computer equipment
Property and Equipment
Estimated useful lives	10 years

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates Our unaudited condensed consolidated financial statements have been prepared in conformity with GAAP, which includes the use of estimates and assumptions by management that affect the reported amounts of assets, liabilities, revenues, expenses, and disclosure of contingent assets and liabilities that existed as of the date of the unaudited condensed consolidated financial statements. Although these estimates were based on management’s available knowledge of current and expected future events, actual results could differ from these estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents consist of all cash balances. We consider investments in highly liquid financial instruments purchased with an original maturity of 90 days or less to be cash equivalents.
Trade Accounts Receivable	Trade Accounts Receivable Trade accounts receivable are recorded at their invoiced amounts.
Allowance for Credit Losses	Allowance for Credit Losses We evaluate allowance for credit losses with reference to our trade accounts receivable balances, which are measured at amortized cost. Due to the short-term nature of our trade accounts receivable, we consider the amortized cost of trade accounts receivable to equal the receivable’s carrying amounts, excluding the allowance for credit losses. Our determination of the allowance for credit losses requires us to make estimates and judgments regarding our customers’ ability to pay amounts due. We continuously evaluate the financial strength of our customers and the overall business climate in which our customers operate, and make adjustments to the allowance for credit losses as necessary. We evaluate the financial strength of our customers by reviewing the aging of their receivables owed to us, our collection experiences with the customer, correspondence, financial information, and third-party credit ratings. We evaluate the business climate in which our customers operate by reviewing various publicly available materials regarding our customers’ industry, including the solvency of various companies in the industry.
Inventories	Inventories Inventories consist of serialized and non-serialized parts primarily used on compression units. All inventories are stated at the lower of cost or net realizable value. Serialized parts inventories are determined using the specific-identification cost method, while non-serialized parts inventories are determined using the weighted-average cost method. Purchases of inventories are considered operating activities within the unaudited condensed consolidated statements of cash flows.
Property and Equipment	Property and Equipment Property and equipment are carried at cost except for (i) certain acquired assets which are recorded at fair value on their respective acquisition dates and (ii) impaired assets which are recorded at fair value as of the last impairment evaluation date for which an adjustment was required. Overhauls and major improvements that increase the value or extend the life of compression equipment are capitalized and depreciated over three to five years. Ordinary maintenance and repairs are charged to cost of operations, exclusive of depreciation and amortization. When property and equipment is retired or sold, the associated carrying value and the related accumulated depreciation are removed from our accounts and any related gains or losses are recorded within the unaudited condensed consolidated statements of operations within the period of sale or disposition. Capitalized interest is calculated by multiplying our monthly effective interest rate on outstanding variable-rate indebtedness by the amount of qualifying costs, which include upfront payments to acquire certain compression units. Capitalized interest was $0.3 million and $0.6 million for the three and six months ended June 30, 2023, respectively, and $0.2 million and $0.3 million for the three and six months ended June 30, 2022, respectively.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets The carrying value of long-lived assets that are not expected to be recovered from future cash flows are written down to estimated fair value. We test long-lived assets for impairment when events or circumstances indicate that a long-lived asset’s carrying value may not be recoverable or will no longer be utilized within the operating fleet. The most common circumstance requiring compression units to be evaluated for impairment involves idle units that do not meet the desired performance characteristics of our revenue-generating horsepower. The carrying value of a long-lived asset is not recoverable if the asset’s carrying value exceeds the sum of the undiscounted cash flows expected to be generated from the use and eventual disposition of the asset. If the carrying value of the long-lived asset exceeds the sum of the undiscounted cash flows associated with the asset, an impairment loss equal to the amount of the carrying value exceeding the fair value of the asset is recognized. The fair value of the asset is measured using quoted market prices or, in the absence of quoted market prices, based on an estimate of discounted cash flows, the expected net sale proceeds compared to the other similarly configured fleet units that we recently sold or a review of other units recently offered for sale by third parties, or the estimated component value of the equipment we plan to continue using.
Identifiable Intangible Assets	Identifiable Intangible Assets Identifiable intangible assets are recorded at cost and amortized using the straight-line method over their estimated useful lives, which is the period over which the assets are expected to contribute directly or indirectly to our future cash flows. The estimated useful lives of our intangible assets range from 15 to 25 years.
Revenue Recognition	Revenue Recognition Revenue is recognized when obligations under the terms of a contract with our customer are satisfied; generally, this occurs with the provision of services or the transfer of goods. Revenue is measured at the amount of consideration we expect to receive in exchange for providing services or transferring goods. Incidental items, if any, that are immaterial in the context of the contract are recognized as expenses.
Income Taxes	Income TaxesUSA Compression Partners, LP is organized as a partnership for U.S. federal and state income tax purposes. As a result, our partners are responsible for U.S. federal and state income taxes on their distributive share of our items of income, gain, loss, or deduction. Texas also imposes an entity-level income tax on partnerships that is based on Texas-sourced taxable margin (the “Texas Margin Tax”). Texas Margin Tax impacts are included within our unaudited condensed consolidated financial statements. Our wholly owned finance subsidiary, USA Compression Finance Corp. (“Finance Corp”), is a corporation for U.S. federal and state income tax purposes and any resulting tax impacts attributable to Finance Corp are included within our unaudited condensed consolidated financial statements.
Pass Through Taxes	Pass-Through Taxes Sales taxes incurred on behalf of, and passed through to, customers are accounted for on a net basis.
Fair-Value Measurements	Fair-Value Measurements Accounting standards applicable to fair-value measurements establish a framework for measuring fair value and stipulate disclosures about fair-value measurements. The standards apply to recurring and non-recurring financial and non-financial assets and liabilities that require or permit fair-value measurements. Among the required disclosures is the fair-value hierarchy of inputs we use to value an asset or a liability. The three levels of the fair-value hierarchy are described as follows: Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that we have the ability to access at the measurement date. Level 2 inputs are those other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable inputs for the asset or liability. As of June 30, 2023, and December 31, 2022, our financial instruments primarily consisted of cash and cash equivalents, trade accounts receivable, trade accounts payable, long-term debt, and, as of June 30, 2023, a derivative instrument. The book values of cash and cash equivalents, trade accounts receivable, and trade accounts payable are representative of fair value due to their short-term maturities. Our revolving credit facility applies floating interest rates to amounts drawn under the facility; therefore, the carrying amount of our revolving credit facility approximates its fair value. The fair value of our Senior Notes 2026 and Senior Notes 2027 were estimated using quoted prices in inactive markets and are considered Level 2 measurements.The fair value of our derivative instrument, which is an interest-rate swap, was estimated based on inputs from actively quoted public markets, including interest-rate forward curves, and is considered a Level 2 measurement.
Operating Segment	Operating Segment We operate in a single business segment, the compression services business.

Property and Equipment, Identifiable Intangible Assets and Goodwill

6 Months Ended

Jun. 30, 2023

Property and Equipment and Identifiable Intangible Assets

Property and Equipment, Identifiable Intangible Assets and Goodwill

Property and Equipment and Identifiable Intangible Assets

Property and Equipment

Property and equipment consisted of the following (in thousands):


	June 30, 2023		December 31, 2022
Compression and treating equipment	$	3,753,445	$	3,658,000
Computer equipment	31,952		34,941
Automobiles and vehicles	41,244		34,947
Leasehold improvements	9,043		8,997
Buildings	3,464		3,464
Furniture and fixtures	817		795
Land	77		77
Total property and equipment, gross	3,840,042		3,741,221
Less: accumulated depreciation and amortization	(1,652,787)		(1,568,297)
Total property and equipment, net	$	2,187,255	$	2,172,924

Depreciation is calculated using the straight-line method over the estimated useful lives of the assets as follows:


Compression and treating equipment, acquired new			25 years
Compression and treating equipment, acquired used			5 - 25 years
Furniture and fixtures			3 - 10 years
Vehicles and computer equipment			1 - 10 years
Buildings			5 years
Leasehold improvements			5 years

Depreciation expense on property and equipment and loss (gain) on disposition of assets were as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Depreciation expense	$	52,694	$	51,614	$	104,835	$	103,334
Loss (gain) on disposition of assets	309		1,031		(67)		852

On a quarterly basis, we evaluate the future deployment of our idle fleet assets under current market conditions. For the three and six months ended June 30, 2023, we retired 33 and 39 compression units, respectively, representing approximately 26,900 and 35,600 of aggregate horsepower, respectively, that previously were used to provide compression services in our business. As a result, we recorded impairments of compression equipment of $10.3 million and $11.5 million for the three and six months ended June 30, 2023, respectively.

For the six months ended June 30, 2022, we retired 10 compression units representing approximately 1,400 of aggregate horsepower that previously were used to provide compression services in our business. As a result, we recorded an impairment of compression equipment of $0.4 million for the six months ended June 30, 2022. No impairment was recorded for the three months ended June 30, 2022.

The primary circumstances supporting these impairments were: (i) unmarketability of certain compression units into the foreseeable future, (ii) excessive maintenance costs associated with certain fleet assets, and (iii) prohibitive retrofitting costs that likely would prevent certain compression units from securing customer acceptance. These compression units were written down to their estimated salvage values, if any.

Identifiable Intangible Assets

Identifiable intangible assets, net consisted of the following (in thousands):


	Customer Relationships		Trade Names		Total
Net balance as of December 31, 2022	$	250,744	$	24,288	$	275,032
Amortization expense	(13,052)		(1,638)		(14,690)
Net balance as of June 30, 2023	$	237,692	$	22,650	$	260,342

Accumulated amortization of intangible assets was $290.3 million and $275.6 million as of June 30, 2023, and December 31, 2022, respectively.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures. Also the disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Unaudited Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenues:
Total revenues	$ 206,920	$ 171,461	$ 404,044	$ 334,873
Costs and expenses:
Cost of operations, exclusive of depreciation and amortization	69,922	55,158	136,587	108,890
Depreciation and amortization	60,039	58,959	119,525	118,023
Selling, general, and administrative	14,950	13,914	34,051	29,179
Loss (gain) on disposition of assets	309	1,031	(67)	852
Impairment of compression equipment	10,273	0	11,464	432
Total costs and expenses	155,493	129,062	301,560	257,376
Operating income	51,427	42,399	102,484	77,497
Other income (expense):
Interest expense, net	(42,045)	(33,079)	(81,835)	(64,917)
Gain on derivative instrument	14,550	0	14,550	0
Other	57	21	81	41
Total other expense	(27,438)	(33,058)	(67,204)	(64,876)
Net income before income tax expense	23,989	9,341	35,280	12,621
Income tax expense	405	255	755	281
Net income	23,584	9,086	34,525	12,340
Less: distributions on Preferred Units	(12,188)	(12,188)	(24,375)	(24,375)
Net Income (Loss) Allocated to Limited Partners	$ 11,396	$ (3,102)	$ 10,150	$ (12,035)
Weighted average common units outstanding - basic (in shares)	98,271	97,728	98,259	97,547
Weighted average common units outstanding - diluted (in shares)	99,694	97,728	99,738	97,547
Basic net income (loss) per common unit (in dollars per share)	$ 0.12	$ (0.03)	$ 0.10	$ (0.12)
Diluted net income (loss) per common unit (in dollars per share)	0.11	(0.03)	0.10	(0.12)
Distributions declared per common unit for respective periods (in dollars per share)	$ 0.525	$ 0.525	$ 1.05	$ 1.05
Contract operations
Revenues:
Total revenues	$ 196,982	$ 163,969	$ 385,521	$ 321,637
Parts and service
Revenues:
Total revenues	4,102	3,605	7,980	5,531
Related party
Revenues:
Total revenues	$ 5,836	$ 3,887	$ 10,543	$ 7,705

Property and Equipment, Identifiable Intangible Assets and Goodwill - Depreciation and Loss (Gain) on Disposition (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Property and Equipment and Identifiable Intangible Assets
Depreciation expense	$ 52,694	$ 51,614	$ 104,835	$ 103,334
Loss (gain) on disposition of assets	$ 309	$ 1,031	$ (67)	$ 852

Basis of Presentation and Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2023

Accounting Policies [Abstract]

Schedule of aggregate principal amount and fair value of senior notes

The following table summarizes the aggregate principal amount and fair value of our Senior Notes 2026 and Senior Notes 2027 (in thousands):


	June 30, 2023		December 31, 2022
Senior Notes 2026, aggregate principal	$	725,000	$	725,000
Fair value of Senior Notes 2026	703,250		706,875
Senior Notes 2027, aggregate principal	750,000		750,000
Fair value of Senior Notes 2027	710,625		725,625

Schedule of interest rate swap

The following table summarizes the gross fair value of our interest-rate swap (in thousands):


	June 30, 2023		December 31, 2022
Interest-rate swap	$	13,334	$	—

Derivative Instrument - Derivative instrument, gain (loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Gain on derivative instrument	$ 14,550	$ 0	$ 14,550	$ 0

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Serialized parts	$ 49,914	$ 46,923
Non-serialized parts	51,505	46,831
Total inventories	$ 101,419	$ 93,754

Property and Equipment, Identifiable Intangible Assets and Goodwill - Summary of Property and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Property and Equipment
Total property and equipment, gross	$ 3,840,042	$ 3,741,221
Less: accumulated depreciation and amortization	(1,652,787)	(1,568,297)
Total property and equipment, net	2,187,255	2,172,924
Compression and treating equipment
Property and Equipment
Total property and equipment, gross	3,753,445	3,658,000
Computer equipment
Property and Equipment
Total property and equipment, gross	31,952	34,941
Automobiles and vehicles
Property and Equipment
Total property and equipment, gross	41,244	34,947
Leasehold improvements
Property and Equipment
Total property and equipment, gross	9,043	8,997
Buildings
Property and Equipment
Total property and equipment, gross	3,464	3,464
Furniture and fixtures
Property and Equipment
Total property and equipment, gross	817	795
Land
Property and Equipment
Total property and equipment, gross	$ 77	$ 77

Preferred Units (Tables)

6 Months Ended

Jun. 30, 2023

Preferred Units and Warrants

Dividends Declared

We have declared and paid per-unit quarterly cash distributions to the holders of the Preferred Units of record as follows:


Payment Date	Distribution per Preferred Unit
February 4, 2022	$	24.375
May 6, 2022	24.375
August 5, 2022	24.375
November 4, 2022	24.375
Total 2022 distributions	$	97.50

February 3, 2023	$	24.375
May 5, 2023	24.375

Total 2023 distributions	$	48.75

Changes in the Preferred Units balance

Changes in the Preferred Units’ balance are as follows (in thousands):


	Preferred Units
Balance as of December 31, 2022	$	477,309
Net income allocated to Preferred Units	24,375
Cash distributions on Preferred Units	(24,375)
Balance as of June 30, 2023	$	477,309

Other Liabilities (Tables)

6 Months Ended

Jun. 30, 2023

Other Liabilities Disclosure [Abstract]

Components of other current liabilities

Components of other current liabilities included the following (in thousands):


	June 30, 2023		December 31, 2022
Accrued interest expense	$	32,839	$	32,763

Accrued unit-based compensation liability	25,005		17,743
Accrued capital expenditures	11,153		10,028

Basis of Presentation and Summary of Significant Accounting Policies - Property and Equipment, Intangible Assets, and Goodwill (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Property and Equipment
Capitalized interest	$ 0.3	$ 0.2	$ 0.6	$ 0.3
Minimum
Property and Equipment
Amortization period of identifiable intangible assets	15 years		15 years
Maximum
Property and Equipment
Amortization period of identifiable intangible assets	25 years		25 years
Compression equipment overhauls \| Minimum
Property and Equipment
Estimated useful lives	3 years		3 years
Compression equipment overhauls \| Maximum
Property and Equipment
Estimated useful lives	5 years		5 years

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 31	$ 35
Inventories	101,419	93,754
Derivative instrument	10,294	0
Prepaid expenses and other assets	10,147	8,784
Total current assets	211,576	186,447
Property and equipment, net	2,187,255	2,172,924
Lease right-of-use assets	17,485	18,195
Derivative instrument, long term	3,040	0
Identifiable intangible assets, net	260,342	275,032
Other assets	11,340	13,126
Total assets	2,691,038	2,665,724
Current liabilities:
Accounts payable	36,627	35,303
Accrued liabilities	87,891	76,016
Deferred revenue	62,981	62,345
Total current liabilities	187,499	173,664
Long-term debt, net	2,212,792	2,106,649
Operating lease liabilities	15,132	16,146
Other liabilities	6,496	8,255
Total liabilities	2,421,919	2,304,714
Commitments and contingencies
Preferred Units	477,309	477,309
Partners’ deficit:
Common units, 98,278 and 98,228 units issued and outstanding, respectively	(217,002)	(125,111)
Warrants	8,812	8,812
Total partners’ deficit	(208,190)	(116,299)
Total liabilities, Preferred Units, and partners’ deficit	2,691,038	2,665,724
Nonrelated Party
Current assets:
Accounts receivable and related-party receivables	86,810	83,822
Related Party
Current assets:
Accounts receivable and related-party receivables	$ 2,875	$ 52

Other Current Liabilities

6 Months Ended

Jun. 30, 2023

Other Liabilities, Current [Abstract]

Other Current Liabilities

Components of other current liabilities included the following (in thousands):


	June 30, 2023		December 31, 2022
Accrued interest expense	$	32,839	$	32,763

Accrued unit-based compensation liability	25,005		17,743
Accrued capital expenditures	11,153		10,028

Preferred Units - Narrative (Details) - $ / shares								6 Months Ended	12 Months Ended
Preferred Units - Narrative (Details) - $ / shares	Jul. 13, 2023	May 05, 2023	Feb. 03, 2023	Nov. 04, 2022	Aug. 05, 2022	May 06, 2022	Feb. 04, 2022	Jun. 30, 2023	Dec. 31, 2022	Apr. 02, 2023
Preferred stock, dividend paid per share (in dollars per share)		$ 24.375	$ 24.375	$ 24.375	$ 24.375	$ 24.375	$ 24.375	$ 48.75	$ 97.50
Preferred unit, percent of amount eligible for conversion										100.00%
Subsequent Event
Preferred stock, dividend declared per share (in dollars per share)	$ 24.375
Series A Preferred Units
Units issued (in shares)								500,000	500,000
Face value (in dollars per share)								$ 1,000	$ 1,000
Distribution per unit (in dollars per share)								24.375
Conversion rate numerator value plus unpaid cash distributions on the applicable preferred unit								1,000
Conversion rate denominator for each Preferred Unit								$ 20.0115
Preferred units, if redeemed, percentage electable to be paid in common units (up to)								50.00%

Revenue Recognition - Disaggregated Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Total revenues	$ 206,920	$ 171,461	$ 404,044	$ 334,873
Services provided over time:
Disaggregation of Revenue [Line Items]
Total revenues	202,403	167,853	395,545	329,339
Primary term
Disaggregation of Revenue [Line Items]
Total revenues	156,744	118,248	305,470	226,545
Month-to-month
Disaggregation of Revenue [Line Items]
Total revenues	45,659	49,605	90,075	102,794
Services provided or goods transferred at a point in time
Disaggregation of Revenue [Line Items]
Total revenues	4,517	3,608	8,499	5,534
Contract operations revenue
Disaggregation of Revenue [Line Items]
Total revenues	202,403	167,853	395,545	329,339
Retail parts and services revenue
Disaggregation of Revenue [Line Items]
Total revenues	$ 4,517	$ 3,608	$ 8,499	$ 5,534

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

+ References

+ Details

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies (a)Major Customers One customer accounted for approximately 10% of total revenues for the three and six months ended June 30, 2023. No customer accounted for 10% or more of total revenues for the three and six months ended June 30, 2022. (b)Litigation From time to time, we and our subsidiaries may be involved in various claims and litigation arising in the ordinary course of business. In management’s opinion, the resolution of such matters is not expected to have a material adverse effect on our consolidated financial position, results of operations, or cash flows. (c)Equipment Purchase Commitments Our future capital commitments are comprised of binding commitments under purchase orders for new compression units ordered but not received. The commitments as of June 30, 2023, were $121.4 million, all of which is expected to be settled within the next twelve months and $95.7 million of which is expected to be settled by year-end 2023. (d)Tax Contingencies Our compliance with state and local sales tax regulations is subject to audit by various taxing authorities. Certain taxing authorities have either claimed or issued an assessment that specific operational processes, which we and others in our industry regularly conduct, result in transactions that are subject to state sales taxes. We and others in our industry have disputed these claims and assessments based on either existing tax statutes or published guidance by the taxing authorities. We currently are protesting certain assessments made by the Oklahoma Tax Commission (“OTC”). We believe it is reasonably possible that we could incur losses related to this assessment depending on whether the administrative law judge assigned by the OTC accepts our position that the transactions are not taxable and we ultimately lose any and all subsequent legal challenges to such determination. We estimate that the range of losses we could incur is from $0 to approximately $26.0 million, including penalties and interest. Our U.S. federal income tax returns for the 2019 and 2020 tax years currently are under examination by the Internal Revenue Service (“IRS”). The IRS has issued preliminary partnership examination changes, along with imputed underpayment computations, for the 2019 and 2020 tax years. Under the Bipartisan Budget Act, there are several procedural steps, including an appeals process, to complete before a final imputed underpayment, if any, is determined. Based on to-date discussions with the IRS, we estimate a potential range of loss from a final imputed underpayment of $0 to approximately $25 million, including interest, for potential adjustments resulting from the IRS examination. Once a final partnership imputed underpayment, if any, is determined, our General Partner may either elect to pay the imputed underpayment (including any applicable penalties and interest) directly to the IRS or, if eligible, issue a revised information statement to each unitholder, and former unitholder, with respect to an audited and adjusted return. (e)Environmental Our operations are subject to federal, state, and local laws, rules, and regulations regarding water quality, hazardous and solid waste management, air quality control, and other environmental matters. These laws, rules, and regulations require that we conduct our operations in a specified manner and to obtain and comply with a wide variety of environmental registrations, licenses, permits, inspections, and other approvals. Failure to comply with applicable environmental laws, rules, and regulations may expose us to significant fines, penalties, and/or interruptions in operations. Our environmental policies and procedures are designed to achieve compliance with such applicable laws, rules, and regulations. These evolving laws, rules, and regulations, and claims for damages to property, employees, other persons, and the environment resulting from current or past operations may result in significant expenditures and liabilities in the future.

Derivative Instrument - Narrative (Details) - Interest Rate Swap $ in Millions	Apr. 30, 2023 USD ($)
Derivative [Line Items]
Interest-rate swap, notional amount	$ 700
Interest-rate swap, fixed interest rate	3.785%

Derivative Instrument (Tables)

6 Months Ended

Jun. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair value of our derivative instruments

The following table summarizes the location and fair value of our derivative instrument on our unaudited condensed consolidated balance sheets (in thousands):


Balance Sheet Classification	June 30, 2023		December 31, 2022
Derivative instrument	$	10,294	$	—
Derivative instrument, long term	3,040		—

Derivative instruments, gain (loss)

The following table summarizes the location and amounts recognized related to our derivative instrument within our unaudited condensed consolidated statements of operations (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
Income Statement Classification	2023		2022		2023		2022
Gain on derivative instrument	$	14,550	$	—	$	14,550	$	—

Property and Equipment, Identifiable Intangible Assets and Goodwill - Identifiable Intangible Assets (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($)
Identifiable intangible assets, net
Net balance, beginning of period	$ 275,032
Amortization expense	(14,690)
Net balance, end of period	260,342
Customer Relationships
Identifiable intangible assets, net
Net balance, beginning of period	250,744
Amortization expense	(13,052)
Net balance, end of period	237,692
Trade Names
Identifiable intangible assets, net
Net balance, beginning of period	24,288
Amortization expense	(1,638)
Net balance, end of period	$ 22,650

Long-term Debt

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

Long-term Debt

Our long-term debt, of which there is no current portion, consisted of the following (in thousands):


	June 30, 2023		December 31, 2022
Senior Notes 2026, aggregate principal	$	725,000	$	725,000
Senior Notes 2027, aggregate principal	750,000		750,000
Less: deferred financing costs, net of amortization	(12,647)		(14,307)
Total senior notes, net	1,462,353		1,460,693
Revolving credit facility	750,439		645,956
Total long-term debt, net	$	2,212,792	$	2,106,649

Revolving Credit Facility

The Credit Agreement matures on December 8, 2026, except that if any portion of the Senior Notes 2026 are outstanding on December 31, 2025, the Credit Agreement will mature on December 31, 2025.

The Credit Agreement has an aggregate commitment of $1.6 billion (subject to availability under our borrowing base). The Partnership’s obligations under the Credit Agreement are guaranteed by the guarantors party to the Credit Agreement, which currently consists of all of the Partnership’s subsidiaries. In addition, under the Credit Agreement the Partnership’s Secured Obligations (as defined therein) are secured by: (i) substantially all of the Partnership’s assets and substantially all of the assets of the guarantors party to the Credit Agreement, excluding real property and other customary exclusions; and (ii) all of the equity interests of the Partnership’s U.S. restricted subsidiaries (subject to customary exceptions).

As of June 30, 2023, we had outstanding borrowings under the Credit Agreement of $750.4 million, $849.6 million of availability and, subject to compliance with the applicable financial covenants, available borrowing capacity of $327.6 million. Our weighted-average interest rate in effect for all borrowings under the Credit Agreement for the six months ended June 30, 2023, was 7.40%, and our weighted-average interest rate under the Credit Agreement as of June 30, 2023, was 7.74%. There were no letters of credit issued under the Credit Agreement as of June 30, 2023. We pay an annualized commitment fee of 0.375% on the unused portion of the aggregate commitment.

The Credit Agreement permits us to make distributions of available cash to unitholders so long as (i) no default under the facility has occurred, is continuing, or would result from the distribution; (ii) immediately prior to and after giving effect to such distribution, we are in compliance with the facility’s financial covenants; and (iii) immediately prior to and after giving effect to such distribution, (a) on or before September 30, 2023, we have availability under the Credit Agreement of at least $250 million and (b) after September 30, 2023, we have availability under the Credit Agreement of at least $100 million.

The Credit Agreement also contains various financial covenants, including covenants requiring us to maintain:

•a minimum EBITDA (as defined in the Credit Agreement) interest coverage ratio of 2.5 to 1.0, determined as of the last day of each fiscal quarter, with EBITDA and interest expense annualized for the most-recent fiscal quarter;

•a ratio of total secured indebtedness to EBITDA not greater than 3.0 to 1.0 or less than 0.0 to 1.0, determined as of the last day of each fiscal quarter, with EBITDA annualized for the most-recent fiscal quarter; and

•a maximum funded debt-to-EBITDA ratio, determined as of the last day of each fiscal quarter with EBITDA annualized for the most-recent fiscal quarter, of (i) 5.50 to 1.00 through the third quarter of 2023 and (ii) 5.25 to 1.00 thereafter. In addition, the Partnership may increase the applicable ratio by 0.25 for any fiscal quarter during which a Specified Acquisition (as defined in the Credit Agreement) occurs and for the following two fiscal quarters, but in no event shall the maximum ratio exceed 5.50 to 1.00 for any fiscal quarter as a result of such increase.

As of June 30, 2023, we were in compliance with all of our covenants under the Credit Agreement.

The Credit Agreement is a “revolving credit facility” that includes a lockbox arrangement, whereby remittances from customers are forwarded to a bank account controlled by the administrative agent and are applied to reduce borrowings under the facility.

Senior Notes 2026

On March 23, 2018, the Partnership and Finance Corp co-issued the Senior Notes 2026. The Senior Notes 2026 mature on April 1, 2026, and accrue interest at the rate of 6.875% per year. Interest on the Senior Notes 2026 is payable semi-annually in arrears on each of April 1 and October 1.

The indenture governing the Senior Notes 2026 (the “2026 Indenture”) contains certain financial covenants that we must comply with in order to make certain restricted payments as described in the 2026 Indenture. As of June 30, 2023, we were in compliance with such financial covenants under the 2026 Indenture.

The Senior Notes 2026 are fully and unconditionally guaranteed (the “2026 Guarantees”), jointly and severally, on a senior unsecured basis by all of our existing subsidiaries (other than Finance Corp), and will be fully and unconditionally guaranteed, jointly and severally, by each of our future restricted subsidiaries that either borrows under, or guarantees, the Credit Agreement or guarantees certain of our other indebtedness (collectively, the “Guarantors”). The Senior Notes 2026 and the 2026 Guarantees are general unsecured obligations and rank equally in right of payment with all of the Guarantors’, Finance Corp’s, and our existing and future senior indebtedness and senior to the Guarantors’, Finance Corp’s, and our future subordinated indebtedness, if any. The Senior Notes 2026 and the 2026 Guarantees effectively are subordinated in right of payment to all of the Guarantors’, Finance Corp’s, and our existing and future secured debt, including debt under the Credit Agreement and guarantees thereof, to the extent of the value of the assets securing such debt, and are structurally subordinate to all indebtedness of any of our subsidiaries that do not guarantee the Senior Notes 2026.

Senior Notes 2027

On March 7, 2019, the Partnership and Finance Corp co-issued the Senior Notes 2027. The Senior Notes 2027 mature on September 1, 2027, and accrue interest at the rate of 6.875% per year. Interest on the Senior Notes 2027 is payable semi-annually in arrears on each of March 1 and September 1.

The indenture governing the Senior Notes 2027 (the “2027 Indenture”) contains certain financial covenants that we must comply with in order to make certain restricted payments as described in the 2027 Indenture. As of June 30, 2023, we were in compliance with such financial covenants under the 2027 Indenture.

The Senior Notes 2027 are fully and unconditionally guaranteed (the “2027 Guarantees”), jointly and severally, on a senior unsecured basis by the Guarantors. The Senior Notes 2027 and the 2027 Guarantees are general unsecured obligations and rank equally in right of payment with all of the Guarantors’, Finance Corp’s, and our existing and future senior indebtedness and senior to the Guarantors’, Finance Corp’s, and our future subordinated indebtedness, if any. The Senior Notes 2027 and the 2027 Guarantees effectively are subordinated in right of payment to all of the Guarantors’, Finance Corp’s, and our existing and future secured debt, including debt under the Credit Agreement and guarantees thereof, to the extent of the value of the assets securing such debt, and are structurally subordinate to all indebtedness of any of our subsidiaries that do not guarantee the Senior Notes 2027.

We have no assets or operations independent of our subsidiaries, and there are no significant restrictions on our ability to obtain funds from our subsidiaries by dividend or loan. Each of the Guarantors is 100% owned by us. None of the assets of our subsidiaries represent restricted net assets pursuant to Rule 4-08(e)(3) of Regulation S-X under the Securities Act of 1933, as amended.

Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Other Liabilities, Current [Abstract]
Accrued interest expense	$ 32,839	$ 32,763
Accrued unit-based compensation liability	25,005	17,743
Accrued capital expenditures	$ 11,153	$ 10,028

Basis of Presentation and Summary of Significant Accounting Policies - Schedule of Interest Rate Derivative (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Interest Rate Swap
Derivatives, Fair Value [Line Items]
Interest-rate swap	$ 13,334	$ 0

- Definition

Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset.

+ References

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+ Details

Basis of Presentation and Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2023

Accounting Policies [Abstract]

Basis of Presentation and Summary of Significant Accounting Policies

Basis of Presentation and Significant Accounting Policies

Basis of Presentation

Our accompanying unaudited condensed consolidated financial statements have been prepared in accordance with GAAP and pursuant to SEC rules and regulations.

In the opinion of our management, financial information presented herein reflects all normal recurring adjustments necessary for the fair presentation of these interim unaudited condensed consolidated financial statements in accordance with GAAP. Operating results for the three and six months ended June 30, 2023, are not necessarily indicative of the results that may be expected for the year ending December 31, 2023. Certain information and footnote disclosures normally included in annual consolidated financial statements prepared in accordance with GAAP have been condensed or omitted in accordance with SEC rules and regulations. Therefore, these unaudited condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements contained in our annual report on Form 10-K for the year ended December 31, 2022, filed on February 14, 2023 (our “2022 Annual Report”).

Use of Estimates

Our unaudited condensed consolidated financial statements have been prepared in conformity with GAAP, which includes the use of estimates and assumptions by management that affect the reported amounts of assets, liabilities, revenues, expenses, and disclosure of contingent assets and liabilities that existed as of the date of the unaudited condensed consolidated financial statements. Although these estimates were based on management’s available knowledge of current and expected future events, actual results could differ from these estimates.

Significant Accounting Policies

Cash and Cash Equivalents

Cash and cash equivalents consist of all cash balances. We consider investments in highly liquid financial instruments purchased with an original maturity of 90 days or less to be cash equivalents.

Trade Accounts Receivable

Trade accounts receivable are recorded at their invoiced amounts.

Allowance for Credit Losses

We evaluate allowance for credit losses with reference to our trade accounts receivable balances, which are measured at amortized cost. Due to the short-term nature of our trade accounts receivable, we consider the amortized cost of trade accounts receivable to equal the receivable’s carrying amounts, excluding the allowance for credit losses.

Our determination of the allowance for credit losses requires us to make estimates and judgments regarding our customers’ ability to pay amounts due. We continuously evaluate the financial strength of our customers and the overall business climate in which our customers operate, and make adjustments to the allowance for credit losses as necessary. We evaluate the financial strength of our customers by reviewing the aging of their receivables owed to us, our collection experiences with the customer, correspondence, financial information, and third-party credit ratings. We evaluate the business climate in which our customers operate by reviewing various publicly available materials regarding our customers’ industry, including the solvency of various companies in the industry.

Inventories

Inventories consist of serialized and non-serialized parts primarily used on compression units. All inventories are stated at the lower of cost or net realizable value. Serialized parts inventories are determined using the specific-identification cost method, while non-serialized parts inventories are determined using the weighted-average cost method. Purchases of inventories are considered operating activities within the unaudited condensed consolidated statements of cash flows.

Property and Equipment

Property and equipment are carried at cost except for (i) certain acquired assets which are recorded at fair value on their respective acquisition dates and (ii) impaired assets which are recorded at fair value as of the last impairment evaluation date for which an adjustment was required. Overhauls and major improvements that increase the value or extend the life of compression equipment are capitalized and depreciated over three to five years. Ordinary maintenance and repairs are charged to cost of operations, exclusive of depreciation and amortization.

When property and equipment is retired or sold, the associated carrying value and the related accumulated depreciation are removed from our accounts and any related gains or losses are recorded within the unaudited condensed consolidated statements of operations within the period of sale or disposition.

Capitalized interest is calculated by multiplying our monthly effective interest rate on outstanding variable-rate indebtedness by the amount of qualifying costs, which include upfront payments to acquire certain compression units. Capitalized interest was $0.3 million and $0.6 million for the three and six months ended June 30, 2023, respectively, and $0.2 million and $0.3 million for the three and six months ended June 30, 2022, respectively.

Impairment of Long-Lived Assets

The carrying value of long-lived assets that are not expected to be recovered from future cash flows are written down to estimated fair value. We test long-lived assets for impairment when events or circumstances indicate that a long-lived asset’s carrying value may not be recoverable or will no longer be utilized within the operating fleet. The most common circumstance requiring compression units to be evaluated for impairment involves idle units that do not meet the desired performance characteristics of our revenue-generating horsepower.

The carrying value of a long-lived asset is not recoverable if the asset’s carrying value exceeds the sum of the undiscounted cash flows expected to be generated from the use and eventual disposition of the asset. If the carrying value of the long-lived asset exceeds the sum of the undiscounted cash flows associated with the asset, an impairment loss equal to the amount of the carrying value exceeding the fair value of the asset is recognized. The fair value of the asset is measured using quoted market prices or, in the absence of quoted market prices, based on an estimate of discounted cash flows, the expected net sale proceeds compared to the other similarly configured fleet units that we recently sold or a review of other units recently offered for sale by third parties, or the estimated component value of the equipment we plan to continue using.

Refer to Note 5 for more detailed information about impairment charges during the three and six months ended June 30, 2023, and 2022.

Identifiable Intangible Assets

Identifiable intangible assets are recorded at cost and amortized using the straight-line method over their estimated useful lives, which is the period over which the assets are expected to contribute directly or indirectly to our future cash flows. The estimated useful lives of our intangible assets range from 15 to 25 years.

Revenue Recognition

Revenue is recognized when obligations under the terms of a contract with our customer are satisfied; generally, this occurs with the provision of services or the transfer of goods. Revenue is measured at the amount of consideration we expect to receive

in exchange for providing services or transferring goods. Incidental items, if any, that are immaterial in the context of the contract are recognized as expenses.

Income Taxes

USA Compression Partners, LP is organized as a partnership for U.S. federal and state income tax purposes. As a result, our partners are responsible for U.S. federal and state income taxes on their distributive share of our items of income, gain, loss, or deduction. Texas also imposes an entity-level income tax on partnerships that is based on Texas-sourced taxable margin (the “Texas Margin Tax”). Texas Margin Tax impacts are included within our unaudited condensed consolidated financial statements. Our wholly owned finance subsidiary, USA Compression Finance Corp. (“Finance Corp”), is a corporation for U.S. federal and state income tax purposes and any resulting tax impacts attributable to Finance Corp are included within our unaudited condensed consolidated financial statements.

Pass-Through Taxes

Sales taxes incurred on behalf of, and passed through to, customers are accounted for on a net basis.

Fair-Value Measurements

Accounting standards applicable to fair-value measurements establish a framework for measuring fair value and stipulate disclosures about fair-value measurements. The standards apply to recurring and non-recurring financial and non-financial assets and liabilities that require or permit fair-value measurements. Among the required disclosures is the fair-value hierarchy of inputs we use to value an asset or a liability. The three levels of the fair-value hierarchy are described as follows:

Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that we have the ability to access at the measurement date.

Level 2 inputs are those other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.

Level 3 inputs are unobservable inputs for the asset or liability.

As of June 30, 2023, and December 31, 2022, our financial instruments primarily consisted of cash and cash equivalents, trade accounts receivable, trade accounts payable, long-term debt, and, as of June 30, 2023, a derivative instrument. The book values of cash and cash equivalents, trade accounts receivable, and trade accounts payable are representative of fair value due to their short-term maturities. Our revolving credit facility applies floating interest rates to amounts drawn under the facility; therefore, the carrying amount of our revolving credit facility approximates its fair value.

The fair value of our Senior Notes 2026 and Senior Notes 2027 were estimated using quoted prices in inactive markets and are considered Level 2 measurements. The following table summarizes the aggregate principal amount and fair value of our Senior Notes 2026 and Senior Notes 2027 (in thousands):


	June 30, 2023		December 31, 2022
Senior Notes 2026, aggregate principal	$	725,000	$	725,000
Fair value of Senior Notes 2026	703,250		706,875
Senior Notes 2027, aggregate principal	750,000		750,000
Fair value of Senior Notes 2027	710,625		725,625

The fair value of our derivative instrument, which is an interest-rate swap, was estimated based on inputs from actively quoted public markets, including interest-rate forward curves, and is considered a Level 2 measurement. The following table summarizes the gross fair value of our interest-rate swap (in thousands):


	June 30, 2023		December 31, 2022
Interest-rate swap	$	13,334	$	—

See Note 7 below for additional information on the interest-rate swap.

Operating Segment

We operate in a single business segment, the compression services business.

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ 23,584	$ 9,086	$ 34,525	$ 12,340

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Basis of Presentation and Summary of Significant Accounting Policies - Fair Value of Senior Notes (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Senior Notes 2026
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Aggregate principal	$ 725,000	$ 725,000
Fair value	703,250	706,875
Senior Notes 2027
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Aggregate principal	750,000	750,000
Fair value	$ 710,625	$ 725,625

Transactions with Related Parties

6 Months Ended

Jun. 30, 2023

Transactions with Related Parties

We provide natural gas compression and treating services to entities affiliated with Energy Transfer, which as of June 30, 2023, owned approximately 47% of our limited partner interests and 100% of the General Partner.

Revenue recognized from those entities affiliated with Energy Transfer on our unaudited condensed consolidated statements of operations were as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Related-party revenues	$	5,836	$	3,887	$	10,543	$	7,705

We had approximately $2.9 million and $52 thousand of related-party receivables on our unaudited condensed consolidated balance sheets as of June 30, 2023, and December 31, 2022, respectively, from those entities affiliated with Energy Transfer.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

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+ Details

Property and Equipment, Identifiable Intangible Assets and Goodwill (Tables)

6 Months Ended

Jun. 30, 2023

Property and Equipment and Identifiable Intangible Assets

Schedule of property and equipment

Property and equipment consisted of the following (in thousands):


	June 30, 2023		December 31, 2022
Compression and treating equipment	$	3,753,445	$	3,658,000
Computer equipment	31,952		34,941
Automobiles and vehicles	41,244		34,947
Leasehold improvements	9,043		8,997
Buildings	3,464		3,464
Furniture and fixtures	817		795
Land	77		77
Total property and equipment, gross	3,840,042		3,741,221
Less: accumulated depreciation and amortization	(1,652,787)		(1,568,297)
Total property and equipment, net	$	2,187,255	$	2,172,924

Depreciation expense on property and equipment and loss (gain) on disposition of assets were as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Depreciation expense	$	52,694	$	51,614	$	104,835	$	103,334
Loss (gain) on disposition of assets	309		1,031		(67)		852

Schedule of estimated useful lives of property, plant, and equipment

Depreciation is calculated using the straight-line method over the estimated useful lives of the assets as follows:


Compression and treating equipment, acquired new			25 years
Compression and treating equipment, acquired used			5 - 25 years
Furniture and fixtures			3 - 10 years
Vehicles and computer equipment			1 - 10 years
Buildings			5 years
Leasehold improvements			5 years

Schedule of identifiable intangible assets

Identifiable intangible assets, net consisted of the following (in thousands):


	Customer Relationships		Trade Names		Total
Net balance as of December 31, 2022	$	250,744	$	24,288	$	275,032
Amortization expense	(13,052)		(1,638)		(14,690)
Net balance as of June 30, 2023	$	237,692	$	22,650	$	260,342

Unaudited Condensed Consolidated Statements of Changes in Partners’ Capital (Deficit) - USD ($) $ in Thousands	Total	Common units	Warrants
Beginning balance partners’ capital (deficit) at Dec. 31, 2021	$ 101,108	$ 87,129	$ 13,979
Increase (Decrease) in Partners' Capital
Distributions and DERs	(51,137)	(51,137)	0
Issuance of common units under the DRIP	516	516	0
Unit-based compensation for equity-classified awards	64	64	0
Net income (loss) attributable to common unitholders’ interests	(8,933)	(8,933)	0
Ending balance partners’ capital (deficit) at Mar. 31, 2022	41,618	27,639	13,979
Beginning balance partners’ capital (deficit) at Dec. 31, 2021	101,108	87,129	13,979
Increase (Decrease) in Partners' Capital
Net income (loss) attributable to common unitholders’ interests	(12,035)
Ending balance partners’ capital (deficit) at Jun. 30, 2022	(12,065)	(20,877)	8,812
Beginning balance partners’ capital (deficit) at Mar. 31, 2022	41,618	27,639	13,979
Increase (Decrease) in Partners' Capital
Distributions and DERs	(51,154)	(51,154)	0
Issuance of common units under the DRIP	508	508	0
Unit-based compensation for equity-classified awards	65	65	0
Exercise and conversion of warrants into common units	0	5,167	(5,167)
Net income (loss) attributable to common unitholders’ interests	(3,102)	(3,102)	0
Ending balance partners’ capital (deficit) at Jun. 30, 2022	(12,065)	(20,877)	8,812
Beginning balance partners’ capital (deficit) at Dec. 31, 2022	(116,299)	(125,111)	8,812
Increase (Decrease) in Partners' Capital
Distributions and DERs	(51,602)	(51,602)	0
Issuance of common units under the DRIP	617	617	0
Unit-based compensation for equity-classified awards	69	69	0
Net income (loss) attributable to common unitholders’ interests	(1,246)	(1,246)	0
Ending balance partners’ capital (deficit) at Mar. 31, 2023	(168,461)	(177,273)	8,812
Beginning balance partners’ capital (deficit) at Dec. 31, 2022	(116,299)	(125,111)	8,812
Increase (Decrease) in Partners' Capital
Net income (loss) attributable to common unitholders’ interests	10,150
Ending balance partners’ capital (deficit) at Jun. 30, 2023	(208,190)	(217,002)	8,812
Beginning balance partners’ capital (deficit) at Mar. 31, 2023	(168,461)	(177,273)	8,812
Increase (Decrease) in Partners' Capital
Distributions and DERs	(51,617)	(51,617)	0
Issuance of common units under the DRIP	423	423	0
Unit-based compensation for equity-classified awards	69	69	0
Net income (loss) attributable to common unitholders’ interests	11,396	11,396	0
Ending balance partners’ capital (deficit) at Jun. 30, 2023	$ (208,190)	$ (217,002)	$ 8,812

Inventories (Tables)

6 Months Ended

Jun. 30, 2023

Inventory Disclosure [Abstract]

Summary of components of inventories

Components of inventories are as follows (in thousands):


	June 30, 2023		December 31, 2022
Serialized parts	$	49,914	$	46,923
Non-serialized parts	51,505		46,831
Total inventories	$	101,419	$	93,754

Cover - shares	6 Months Ended
Cover - shares	Jun. 30, 2023	Jul. 27, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	001-35779
Entity Registrant Name	USA Compression Partners, LP
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	75-2771546
Entity Address, Address Line One	111 Congress Avenue
Entity Address, Address Line Two	Suite 2400
Entity Address, City or Town	Austin
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	78701
City Area Code	512
Local Phone Number	473-2662
Title of 12(b) Security	Common units representing limited partner interests
Trading Symbol	USAC
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Units outstanding (in units)		98,278,456
Entity Central Index Key	0001522727
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Amendment Flag	false

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Allowance for credit losses	$ 1,237	$ 1,164
Common units issued (in shares)	98,278	98,228
Common units outstanding (in shares)	98,278	98,228

Related Party Disclosures (Tables)

6 Months Ended

Jun. 30, 2023

Summary of Revenue Recognized from such Affiliated ETO Entities

Revenue recognized from those entities affiliated with Energy Transfer on our unaudited condensed consolidated statements of operations were as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Related-party revenues	$	5,836	$	3,887	$	10,543	$	7,705

Long-term Debt - Summary of Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Less: deferred financing costs, net of amortization	$ (12,647)	$ (14,307)
Total long-term debt, net	2,212,792	2,106,649
Senior Notes
Debt Instrument [Line Items]
Total long-term debt, net	1,462,353	1,460,693
Senior Notes 2026
Debt Instrument [Line Items]
Long-term debt, aggregate principal	725,000	725,000
Senior Notes 2027
Debt Instrument [Line Items]
Long-term debt, aggregate principal	750,000	750,000
Revolving credit facility
Debt Instrument [Line Items]
Total long-term debt, net	$ 750,439	$ 645,956

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Partners’ Capital (Deficit) - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions		6 Months Ended
	Jul. 13, 2023	Jun. 30, 2023	Apr. 27, 2023	Dec. 31, 2022
Partners' Capital
Partners' capital (in units)		98,278,456		98,227,656
Number of shares that can be purchased on the warrant		10,000,000		10,000,000
Warrant strike price (in dollars per share)		$ 19.59	$ 17.03	$ 19.59
Number of warrant exercised (in shares)			5,000,000
Common units issued from exercise of warrants (in shares)			534,308
Distribution reinvestment plan ("DRIP")
Partners' Capital
Common units issued (in shares)		50,800
Limited partner \| Common units \| Cash Distributions \| Subsequent Event
Partners' Capital
Cash distribution announced per unit (in dollars per share)	$ 0.525
Limited partner \| Common units \| Distribution reinvestment plan ("DRIP")
Partners' Capital
Non-cash distributions		$ 1.0
Limited partner \| Common units \| Entities Affiliated With Energy Transfer LP
Partners' Capital
Partners' capital (in units)		46,056,228
General partner \| Common units \| Energy Transfer LP
Partners' Capital
Partners' capital (in units)		8,000,000

Partners’ Capital (Deficit)

6 Months Ended

Jun. 30, 2023

Partners' Capital Notes [Abstract]

Partners’ Capital (Deficit)

Partners’ Deficit

Common Units

The change in common units outstanding was as follows:


			Common Units Outstanding
Number of common units outstanding, December 31, 2022			98,227,656

Issuance of common units under the DRIP			50,800

Number of common units outstanding, June 30, 2023			98,278,456

As of June 30, 2023, Energy Transfer held 46,056,228 common units, including 8,000,000 common units held by the General Partner and controlled by Energy Transfer.

Cash Distributions


Payment Date	Distribution per Limited Partner Unit		Amount Paid to Common Unitholders		Amount Paid to Phantom Unitholders		Total Distribution
February 4, 2022	$	0.525	$	51.1	$	1.2	$	52.3
May 6, 2022	0.525		51.1		1.2		52.3
August 5, 2022	0.525		51.4		1.1		52.5
November 4, 2022	0.525		51.5		1.0		52.5
Total 2022 distributions	$	2.10	$	205.1	$	4.5	$	209.6

February 3, 2023	$	0.525	$	51.6	$	1.1	$	52.7
May 5, 2023	0.525		51.6		1.1		52.7

Total 2023 distributions	$	1.05	$	103.2	$	2.2	$	105.4

Announced Quarterly Distribution

On July 13, 2023, we announced a cash distribution of $0.525 per unit on our common units. The distribution will be paid on August 4, 2023, to common unitholders of record as of the close of business on July 24, 2023.

DRIP

During the six months ended June 30, 2023, distributions of $1.0 million were reinvested under the DRIP resulting in the issuance of 50,800 common units.

Warrants

As of June 30, 2023, and December 31, 2022, we had warrants outstanding to purchase 10,000,000 common units with a strike price of $19.59 per common unit that may be exercised by the holders at any time prior to April 2, 2028.

On April 27, 2022, a tranche of warrants with the right to purchase 5,000,000 common units with a strike price of $17.03 per common unit was exercised in full by the holders. The exercise of the warrants was net settled by the Partnership for 534,308 common units.

Income (Loss) Per Unit

The computation of income (loss) per unit is based on the weighted-average number of participating securities, which includes our common units and certain equity-based awards outstanding during the applicable period. Basic income (loss) per unit is determined by dividing net income (loss) allocated to participating securities after deducting the amount distributed on Preferred Units, by the weighted-average number of participating securities outstanding during the period. Income (loss) attributable to unitholders is allocated to participating securities based on their respective shares of the distributed and

undistributed earnings for the period. To the extent cash distributions exceed net income (loss) attributable to unitholders for the period, the excess distributions are allocated to all participating securities outstanding based on their respective ownership percentages.

Diluted income (loss) per unit is computed using the treasury stock method, which considers the potential issuance of limited partner units associated with our long-term incentive plan and warrants. Unvested phantom units and unexercised warrants are not included in basic income (loss) per unit, as they are not considered to be participating securities, but are included in the calculation of diluted income (loss) per unit to the extent they are dilutive, and in the case of warrants to the extent they are considered “in the money.”

For the three months ended June 30, 2023, approximately 1,177,000 and 246,000 incremental unvested phantom units and “in the money” outstanding warrants, respectively, represent the difference between our basic and diluted weighted-average common units outstanding. For the six months ended June 30, 2023, approximately 1,118,000 and 361,000 incremental unvested phantom units and “in the money” outstanding warrants, respectively, represent the difference between our basic and diluted weighted-average common units outstanding.

For the three and six months ended June 30, 2022, approximately 1,051,000 and 928,000 incremental unvested phantom units, respectively, were excluded from the calculation of diluted income (loss) per unit because the impact was anti-dilutive. For the three and six months ended June 30, 2022, approximately 157,000 and 85,000 incremental “in the money” then-outstanding warrants, respectively, were excluded from the calculation of diluted income (loss) per unit because the impact was anti-dilutive. Our outstanding warrants not “in the money” were excluded from the calculation for the three and six months ended June 30, 2022.