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GUARANTOR AND NON-GUARANTOR SUBSIDIARIES FINANCIAL INFORMATION (Tables)
6 Months Ended
Jun. 30, 2017
Guarantor and Non-Guarantor Subsidiaries Financial Information [Abstract]  
Schedule of condensed consolidating balance sheet
Following is the condensed consolidating balance sheet at June 30, 2017 (in thousands):
 
Clean
Harbors, Inc.
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Consolidating
Adjustments
 
Total
Assets:
 

 
 

 
 

 
 

 
 

Cash and cash equivalents
$
51,391

 
$
303,996

 
$
90,979

 
$

 
$
446,366

Intercompany receivables
220,885

 
314,705

 
38,312

 
(573,902
)
 

Accounts receivables, net

 
419,338

 
93,037

 

 
512,375

Other current assets
897

 
222,283

 
59,658

 
(6,845
)
 
275,993

Property, plant and equipment, net

 
1,198,630

 
403,823

 

 
1,602,453

Investments in subsidiaries
2,893,232

 
570,837

 

 
(3,464,069
)
 

Intercompany debt receivable

 
89,441

 
24,701

 
(114,142
)
 

Goodwill

 
416,775

 
56,044

 

 
472,819

Permits and other intangibles, net

 
421,793

 
61,035

 

 
482,828

Other long-term assets
2,363

 
7,555

 
4,598

 
(1,068
)
 
13,448

Total assets
$
3,168,768

 
$
3,965,353

 
$
832,187

 
$
(4,160,026
)
 
$
3,806,282

Liabilities and Stockholders’ Equity:
 

 
 

 
 

 
 

 
 

Current liabilities
$
123,095

 
$
375,919

 
$
127,131

 
$
(6,845
)
 
$
619,300

Intercompany payables
314,530

 
257,453

 
1,919

 
(573,902
)
 

Closure, post-closure and remedial liabilities, net

 
145,777

 
16,475

 

 
162,252

Long-term obligations
1,626,505

 

 

 

 
1,626,505

Intercompany debt payable
3,701

 
21,000

 
89,441

 
(114,142
)
 

Other long-term liabilities

 
278,833

 
19,523

 
(1,068
)
 
297,288

Total liabilities
2,067,831

 
1,078,982

 
254,489

 
(695,957
)
 
2,705,345

Stockholders’ equity
1,100,937

 
2,886,371

 
577,698

 
(3,464,069
)
 
1,100,937

Total liabilities and stockholders’ equity
$
3,168,768

 
$
3,965,353

 
$
832,187

 
$
(4,160,026
)
 
$
3,806,282


Following is the condensed consolidating balance sheet at December 31, 2016 (in thousands):
 
Clean
Harbors, Inc.
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Consolidating
Adjustments
 
Total
Assets:
 

 
 

 
 

 
 

 
 

Cash and cash equivalents
$
51,417

 
$
155,943

 
$
99,637

 
$

 
$
306,997

Intercompany receivables
200,337

 
354,836

 
49,055

 
(604,228
)
 

Accounts receivables, net

 
417,029

 
79,197

 

 
496,226

Other current assets
3,096

 
234,408

 
69,257

 
(17,113
)
 
289,648

Property, plant and equipment, net

 
1,211,210

 
400,617

 

 
1,611,827

Investments in subsidiaries
2,851,571

 
580,124

 

 
(3,431,695
)
 

Intercompany debt receivable

 
86,409

 
24,701

 
(111,110
)
 

Goodwill

 
412,638

 
52,516

 

 
465,154

Permits and other intangibles, net

 
435,594

 
63,127

 

 
498,721

Other long-term assets
2,446

 
7,582

 
4,387

 
(1,068
)
 
13,347

Total assets
$
3,108,867

 
$
3,895,773

 
$
842,494

 
$
(4,165,214
)
 
$
3,681,920

Liabilities and Stockholders’ Equity:
 

 
 

 
 

 
 

 
 

Current liabilities
$
21,805

 
$
366,831

 
$
133,145

 
$
(17,113
)
 
$
504,668

Intercompany payables
365,848

 
237,058

 
1,322

 
(604,228
)
 

Closure, post-closure and remedial liabilities, net

 
150,682

 
15,640

 

 
166,322

Long-term obligations
1,633,272

 

 

 

 
1,633,272

Intercompany debt payable
3,701

 
21,000

 
86,409

 
(111,110
)
 

Other long-term liabilities

 
275,649

 
18,836

 
(1,068
)
 
293,417

Total liabilities
2,024,626

 
1,051,220

 
255,352

 
(733,519
)
 
2,597,679

Stockholders’ equity
1,084,241

 
2,844,553

 
587,142

 
(3,431,695
)
 
1,084,241

Total liabilities and stockholders’ equity
$
3,108,867

 
$
3,895,773

 
$
842,494

 
$
(4,165,214
)
 
$
3,681,920

Schedule of condensed consolidating statement of income
Following is the consolidating statement of operations for the three months ended June 30, 2017 (in thousands):
 
Clean
Harbors, Inc.
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Consolidating
Adjustments
 
Total
Revenues
 
 
 
 
 
 
 
 


Service revenues
$

 
$
474,801

 
$
147,924

 
$
(11,785
)
 
$
610,940

Product revenues

 
125,859

 
18,730

 
(2,741
)
 
141,848

   Total revenues

 
600,660

 
166,654

 
(14,526
)
 
752,788

Cost of revenues (exclusive of items shown separately below)
 
 
 
 
 
 
 
 


Service cost of revenues

 
306,960

 
117,181

 
(11,785
)
 
412,356

Product cost of revenues

 
98,645

 
11,543

 
(2,741
)
 
107,447

   Total cost of revenues

 
405,605

 
128,724

 
(14,526
)
 
519,803

Selling, general and administrative expenses
27

 
92,504

 
19,763

 

 
112,294

Accretion of environmental liabilities

 
2,181

 
235

 

 
2,416

Depreciation and amortization

 
51,937

 
19,594

 

 
71,531

(Loss) income from operations
(27
)
 
48,433

 
(1,662
)
 

 
46,744

Other expense
(76
)
 
(406
)
 
(351
)
 

 
(833
)
Loss on early extinguishment of debt
(6,045
)
 

 

 

 
(6,045
)
Gain on sale of business

 
31,722

 

 

 
31,722

Interest (expense) income
(22,614
)
 
240

 
(118
)
 

 
(22,492
)
Equity in earnings of subsidiaries, net of taxes
43,167

 
(5,332
)
 

 
(37,835
)
 

Intercompany interest income (expense)

 
1,268

 
(1,268
)
 

 

Income (loss) before (benefit) provision for income taxes
14,405

 
75,925

 
(3,399
)
 
(37,835
)
 
49,096

(Benefit) provision for income taxes
(11,475
)
 
31,981

 
2,710

 

 
23,216

Net income (loss)
25,880

 
43,944

 
(6,109
)
 
(37,835
)
 
25,880

Other comprehensive income
15,098

 
15,098

 
12,837

 
(27,935
)
 
15,098

Comprehensive income
$
40,978

 
$
59,042

 
$
6,728

 
$
(65,770
)
 
$
40,978
















Following is the consolidating statement of operations for the three months ended June 30, 2016 (in thousands):
 
Clean
Harbors, Inc.
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Consolidating
Adjustments
 
Total
Revenues
 
 
 
 
 
 
 
 
 
Service revenues
$

 
$
456,013

 
$
139,413

 
$
(10,864
)
 
$
584,562

Product revenues

 
95,648

 
19,391

 
(2,091
)
 
112,948

   Total revenues

 
551,661

 
158,804

 
(12,955
)
 
697,510

Cost of revenues (exclusive of items shown separately below)
 
 
 
 
 
 
 
 
 
Service cost of revenues
(587
)
 
292,343

 
107,792

 
(10,864
)
 
388,684

Product cost of revenues

 
79,108

 
14,301

 
(2,091
)
 
91,318

   Total cost of revenues
(587
)
 
371,451

 
122,093

 
(12,955
)
 
480,002

Selling, general and administrative expenses
37

 
83,882

 
23,144

 

 
107,063

Accretion of environmental liabilities

 
2,313

 
235

 

 
2,548

Depreciation and amortization

 
50,696

 
22,697

 

 
73,393

Income (loss) from operations
550

 
43,319

 
(9,365
)
 

 
34,504

Other income (expense)

 
400

 
(589
)
 

 
(189
)
Interest (expense) income
(22,962
)
 
1,284

 
31

 

 
(21,647
)
Equity in earnings of subsidiaries, net of taxes
17,413

 
(9,195
)
 

 
(8,218
)
 

Intercompany interest income (expense)

 
5,497

 
(5,497
)
 

 

(Loss) income before (benefit) provision for income taxes
(4,999
)
 
41,305

 
(15,420
)
 
(8,218
)
 
12,668

(Benefit) provision for income taxes
(8,965
)
 
23,892

 
(6,225
)
 

 
8,702

Net income (loss)
3,966

 
17,413

 
(9,195
)
 
(8,218
)
 
3,966

Other comprehensive loss
(1,178
)
 
(1,178
)
 
(597
)
 
1,775

 
(1,178
)
Comprehensive income (loss)
$
2,788

 
$
16,235

 
$
(9,792
)
 
$
(6,443
)
 
$
2,788

















    
    
Following is the consolidating statement of operations for the six months ended June 30, 2017 (in thousands):
 
Clean
Harbors, Inc.
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Consolidating
Adjustments
 
Total
Revenues
 
 
 
 
 
 
 
 
 
Service revenues
$

 
$
918,106

 
$
278,995

 
$
(25,947
)
 
$
1,171,154

Product revenues

 
242,509

 
34,061

 
(5,995
)
 
270,575

   Total revenues

 
1,160,615

 
313,056

 
(31,942
)
 
1,441,729

Cost of revenues (exclusive of items shown separately below)
 
 
 
 
 
 
 
 
 
Service cost of revenues

 
601,105

 
228,285

 
(25,947
)
 
803,443

Product cost of revenues

 
195,150

 
23,790

 
(5,995
)
 
212,945

   Total cost of revenues

 
796,255

 
252,075

 
(31,942
)
 
1,016,388

Selling, general and administrative expenses
51

 
184,675

 
39,789

 

 
224,515

Accretion of environmental liabilities

 
4,236

 
470

 

 
4,706

Depreciation and amortization

 
103,837

 
40,106

 

 
143,943

(Loss) income from operations
(51
)
 
71,612

 
(19,384
)
 

 
52,177

Other expense
(222
)
 
(1,795
)
 
(365
)
 

 
(2,382
)
Loss on early extinguishment of debt
(6,045
)
 

 

 

 
(6,045
)
Gain on sale of business

 
31,722

 

 

 
31,722

Interest (expense) income
(45,273
)
 
359

 
(154
)
 

 
(45,068
)
Equity in earnings of subsidiaries, net of taxes
35,530

 
(27,156
)
 

 
(8,374
)
 

Intercompany interest income (expense)

 
2,565

 
(2,565
)
 

 

(Loss) income before (benefit) provision for income taxes
(16,061
)
 
77,307

 
(22,468
)
 
(8,374
)
 
30,404

(Benefit) provision for income taxes
(20,548
)
 
41,618

 
4,847

 

 
25,917

Net income (loss)
4,487

 
35,689

 
(27,315
)
 
(8,374
)
 
4,487

Other comprehensive income
21,149

 
21,149

 
17,869

 
(39,018
)
 
21,149

Comprehensive income (loss)
$
25,636

 
$
56,838

 
$
(9,446
)
 
$
(47,392
)
 
$
25,636
















Following is the consolidating statement of operations for the six months ended June 30, 2016 (in thousands):
 
Clean
Harbors, Inc.
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Consolidating
Adjustments
 
Total
Revenues
 
 
 
 
 
 
 
 
 
Service revenues
$

 
$
884,490

 
$
253,436

 
$
(23,133
)
 
$
1,114,793

Product revenues

 
185,236

 
38,104

 
(4,540
)
 
218,800

   Total revenues

 
1,069,726

 
291,540

 
(27,673
)
 
1,333,593

Cost of revenues (exclusive of items shown separately below)
 
 
 
 
 
 
 
 
 
Service cost of revenues
(587
)
 
575,307

 
211,083

 
(23,133
)
 
762,670

Product cost of revenues

 
158,462

 
27,689

 
(4,540
)
 
181,611

   Total cost of revenues
(587
)
 
733,769

 
238,772

 
(27,673
)
 
944,281

Selling, general and administrative expenses
61

 
164,537

 
46,949

 

 
211,547

Accretion of environmental liabilities

 
4,603

 
450

 

 
5,053

Depreciation and amortization

 
99,391

 
42,904

 

 
142,295

Income (loss) from operations
526

 
67,426

 
(37,535
)
 

 
30,417

Other income (expense)

 
312

 
(851
)
 

 
(539
)
Interest (expense) income
(43,105
)
 
2,395

 
83

 

 
(40,627
)
Equity in earnings of subsidiaries, net of taxes
8,642

 
(35,690
)
 

 
27,048

 

Intercompany interest income (expense)

 
10,656

 
(10,656
)
 

 

(Loss) income before (benefit) provision for income taxes
(33,937
)
 
45,099

 
(48,959
)
 
27,048

 
(10,749
)
(Benefit) provision for income taxes
(17,032
)
 
36,457

 
(13,269
)
 

 
6,156

Net (loss) income
(16,905
)
 
8,642

 
(35,690
)
 
27,048

 
(16,905
)
Other comprehensive income
44,659

 
44,659

 
28,330

 
(72,989
)
 
44,659

Comprehensive income (loss)
$
27,754

 
$
53,301

 
$
(7,360
)
 
$
(45,941
)
 
$
27,754


Schedule of condensed consolidating statement of cash flows
Following is the condensed consolidating statement of cash flows for the six months ended June 30, 2017 (in thousands):
 
Clean
Harbors, Inc.
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Consolidating Adjustments
 
Total
Net cash (used in) from operating activities
$
(93,808
)
 
$
206,496

 
$
4,243

 
$

 
$
116,931

Cash flows from (used in) investing activities:
 

 
 

 
 

 
 
 
 

Additions to property, plant and equipment

 
(75,152
)
 
(13,590
)
 

 
(88,742
)
Proceeds from sales of fixed assets

 
984

 
1,137

 

 
2,121

Acquisitions, net of cash acquired

 
(9,277
)
 

 

 
(9,277
)
Proceeds on sale of businesses, net of transactional costs

 
46,210

 
181

 

 
46,391

Additions to intangible assets, including costs to obtain or renew permits

 
(888
)
 
(351
)
 

 
(1,239
)
Proceeds from sale of investments
376

 

 

 

 
376

Intercompany

 
(14,343
)
 

 
14,343

 

Net cash from (used in) investing activities
376

 
(52,466
)
 
(12,623
)
 
14,343

 
(50,370
)
 
 
 
 
 
 
 
 
 
 
Cash flows from (used in) financing activities:
 

 
 

 
 

 
 
 
 

Change in uncashed checks

 
(5,977
)
 
(2,384
)
 

 
(8,361
)
Proceeds from exercise of stock options
46

 

 

 

 
46

Issuance of restricted shares, net of shares remitted
(2,132
)
 

 

 

 
(2,132
)
Repurchases of common stock
(12,257
)
 

 

 

 
(12,257
)
Deferred financing costs paid
(4,727
)
 

 

 

 
(4,727
)
Premiums paid on early extinguishment of debt
(4,665
)
 

 

 

 
(4,665
)
Principal payment on debt
(296,202
)
 

 

 

 
(296,202
)
Issuance of senior secured notes, net of discount
399,000

 

 

 

 
399,000

Intercompany
14,343

 

 

 
(14,343
)
 

Net cash from (used in) financing activities
93,406

 
(5,977
)
 
(2,384
)
 
(14,343
)
 
70,702

Effect of exchange rate change on cash

 

 
2,106

 

 
2,106

(Decrease) increase in cash and cash equivalents
(26
)
 
148,053

 
(8,658
)
 

 
139,369

Cash and cash equivalents, beginning of period
51,417

 
155,943

 
99,637

 

 
306,997

Cash and cash equivalents, end of period
$
51,391

 
$
303,996

 
$
90,979

 
$

 
$
446,366


Following is the condensed consolidating statement of cash flows for the six months ended June 30, 2016 (in thousands):
 
Clean
Harbors, Inc.
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Consolidating Adjustments
 
Total
Net cash from operating activities
$
42,990

 
$
65,860

 
$
11,201

 
$

 
$
120,051

Cash flows used in investing activities:
 

 
 

 
 

 
 
 
 

Additions to property, plant and equipment

 
(105,175
)
 
(18,354
)
 

 
(123,529
)
Proceeds from sales of fixed assets

 
694

 
1,974

 

 
2,668

Acquisitions, net of cash acquired

 
(48,989
)
 
(10,000
)
 

 
(58,989
)
Additions to intangible assets, including costs to obtain or renew permits

 
(908
)
 
(65
)
 

 
(973
)
Purchases of available-for-sale securities
(102
)
 

 
(496
)
 

 
(598
)
Intercompany

 
(11,827
)
 

 
11,827

 

Investment in subsidiaries
(250,625
)
 

 

 
250,625

 

Net cash used in investing activities
(250,727
)
 
(166,205
)
 
(26,941
)
 
262,452

 
(181,421
)
 
 
 
 
 
 
 
 
 
 
Cash flows from (used in) financing activities:
 

 
 

 
 

 
 
 
 

Change in uncashed checks

 
(9,266
)
 
(1,756
)
 

 
(11,022
)
Proceeds from exercise of stock options
184

 

 

 

 
184

Issuance of restricted shares, net of shares remitted
(1,879
)
 

 

 

 
(1,879
)
Repurchases of common stock
(10,134
)
 

 

 

 
(10,134
)
Excess tax benefit of stock-based compensation
2

 

 

 

 
2

Deferred financing costs paid
(2,614
)
 

 

 

 
(2,614
)
Issuance of senior unsecured notes, including premium
250,625

 
250,625

 

 
(250,625
)
 
250,625

Intercompany
11,827

 

 

 
(11,827
)
 

Net cash from (used in) financing activities
248,011

 
241,359

 
(1,756
)
 
(262,452
)
 
225,162

Effect of exchange rate change on cash

 

 
4,423

 

 
4,423

Increase (decrease) in cash and cash equivalents
40,274

 
141,014

 
(13,073
)
 

 
168,215

Cash and cash equivalents, beginning of period
11,017

 
83,479

 
90,212

 

 
184,708

Cash and cash equivalents, end of period
$
51,291

 
$
224,493

 
$
77,139

 
$

 
$
352,923