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OPERATING SEGMENTS (Tables)
9 Months Ended
Sep. 30, 2018
OPERATING SEGMENTS  
Summary of financial information of our reportable segments

Summarized financial information of our reportable segments is as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30, 2018

 

 

 

 

Field &

 

 

 

 

 

 

 

 

Environmental

 

Industrial

 

 

 

 

 

 

$s in thousands

    

Services

    

Services

    

Corporate

    

Total

Revenue

 

$

107,197

 

$

44,219

 

$

 —

 

$

151,416

Depreciation, amortization and accretion

 

$

8,903

 

$

1,537

 

$

316

 

$

10,756

Capital expenditures

 

$

9,878

 

$

573

 

$

379

 

$

10,830

Total assets

 

$

614,228

 

$

157,989

 

$

80,957

 

$

853,174

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30, 2017

 

 

 

 

Field &

 

 

 

 

 

 

 

 

Environmental

 

Industrial

 

 

 

 

 

 

$s in thousands

    

Services

    

Services

    

Corporate

    

Total

Revenue

 

$

97,661

 

$

36,393

 

$

 —

 

$

134,054

Depreciation, amortization and accretion

 

$

9,342

 

$

1,316

 

$

118

 

$

10,776

Capital expenditures

 

$

7,594

 

$

561

 

$

647

 

$

8,802

Total assets

 

$

619,156

 

$

124,053

 

$

59,442

 

$

802,651

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended September 30, 2018

 

 

 

 

Field &

 

 

 

 

 

 

 

 

Environmental

 

Industrial

 

 

 

 

 

 

$s in thousands

    

Services

    

Services

    

Corporate

    

Total

Revenue

 

$

292,628

 

$

115,759

 

$

 —

 

$

408,387

Depreciation, amortization and accretion

 

$

26,089

 

$

4,307

 

$

762

 

$

31,158

Capital expenditures

 

$

20,818

 

$

3,460

 

$

1,513

 

$

25,791

Total assets

 

$

614,228

 

$

157,989

 

$

80,957

 

$

853,174

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended September 30, 2017

 

 

 

 

Field &

 

 

 

 

 

 

 

 

Environmental

 

Industrial

 

 

 

 

 

 

$s in thousands

    

Services

    

Services

    

Corporate

    

Total

Revenue

 

$

268,555

 

$

101,790

 

$

 —

 

$

370,345

Depreciation, amortization and accretion

 

$

27,238

 

$

4,225

 

$

375

 

$

31,838

Capital expenditures

 

$

21,204

 

$

2,900

 

$

2,250

 

$

26,354

Total assets

 

$

619,156

 

$

124,053

 

$

59,442

 

$

802,651

 

Reconciliation of Net Income to Adjusted EBITDA and adjusted EBITDA by operating segment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30, 

 

Nine Months Ended September 30, 

$s in thousands

    

2018

    

2017

 

2018

    

2017

Net income

 

$

13,427

 

$

8,365

 

$

35,890

 

$

18,599

Income tax expense

 

 

3,400

 

 

4,668

 

 

11,178

 

 

10,465

Interest expense

 

 

3,066

 

 

2,783

 

 

8,782

 

 

15,387

Interest income

 

 

(34)

 

 

(18)

 

 

(97)

 

 

(49)

Foreign currency (gain) loss

 

 

303

 

 

(275)

 

 

456

 

 

(521)

Other income

 

 

(177)

 

 

(234)

 

 

(2,493)

 

 

(537)

Impairment charges

 

 

3,666

 

 

 —

 

 

3,666

 

 

 —

Depreciation and amortization of plant and equipment

 

 

7,342

 

 

7,386

 

 

20,991

 

 

21,007

Amortization of intangibles

 

 

2,327

 

 

2,300

 

 

6,925

 

 

7,586

Stock-based compensation

 

 

1,193

 

 

995

 

 

3,272

 

 

2,954

Accretion and non-cash adjustment of closure & post-closure liabilities

 

 

1,087

 

 

1,090

 

 

3,242

 

 

3,245

Adjusted EBITDA

 

$

35,600

 

$

27,060

 

$

91,812

 

$

78,136

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Three Months Ended September 30, 

    

Nine Months Ended September 30, 

$s in thousands

 

2018

    

2017

 

2018

    

2017

Adjusted EBITDA:

 

 

 

 

 

 

 

 

 

 

 

 

Environmental Services

 

$

43,210

 

$

35,524

 

$

117,742

 

$

102,022

Field & Industrial Services

 

 

6,236

 

 

3,646

 

 

13,143

 

 

9,829

Corporate

 

 

(13,846)

 

 

(12,110)

 

 

(39,073)

 

 

(33,715)

Total

 

$

35,600

 

$

27,060

 

$

91,812

 

$

78,136

 

Schedule of long-lived assets by geographic location

 

 

 

 

 

 

 

 

    

September 30, 

 

December 31, 

$s in thousands

 

2018

    

2017

United States

 

$

402,923

 

$

396,066

Canada

 

 

60,468

 

 

61,178

Total long-lived assets

 

$

463,391

 

$

457,244