GUARANTOR AND NON-GUARANTOR SUBSIDIARIES FINANCIAL INFORMATION (Tables)

9 Months Ended

Sep. 30, 2018

Guarantor and Non-Guarantor Subsidiaries Financial Information [Abstract]

Schedule of condensed consolidating balance sheet

Following is the condensed consolidating balance sheet at September 30, 2018 (in thousands):

	Clean Harbors, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Total
Assets:
Cash and cash equivalents	$	52,158	$	105,518	$	57,821	$	—		$	215,497
Short-term marketable securities	368		—		37,012		—			37,380
Intercompany receivables	256,615		667,371		51,517		(975,503		)	—
Accounts receivable, net	—		511,333		97,312		—			608,645
Other current assets	—		264,204		53,281		(2,186		)	315,299
Property, plant and equipment, net	—		1,251,472		362,957		—			1,614,429
Investments in subsidiaries	3,185,768		599,352		—		(3,785,120		)	—
Intercompany debt receivable	—		15,491		21,000		(36,491		)	—
Goodwill	—		453,052		61,050		—			514,102
Permits and other intangibles, net	—		398,117		53,238		—			451,355
Other long-term assets	1,720		13,055		2,844		3			17,622
Total assets	$	3,496,629	$	4,278,965	$	798,032	$	(4,799,297	)	$	3,774,329
Liabilities and Stockholders’ Equity:
Current liabilities	$	22,515	$	428,273	$	127,698	$	(2,186	)	$	576,300
Intercompany payables	660,634		306,805		8,064		(975,503		)	—
Closure, post-closure and remedial liabilities, net	—		145,795		17,042		—			162,837
Long-term obligations, net	1,616,156		—		—		—			1,616,156
Intercompany debt payable	—		21,000		15,491		(36,491		)	—
Other long-term liabilities	—		200,278		21,431		3			221,712
Total liabilities	2,299,305		1,102,151		189,726		(1,014,177		)	2,577,005
Stockholders’ equity	1,197,324		3,176,814		608,306		(3,785,120		)	1,197,324
Total liabilities and stockholders’ equity	$	3,496,629	$	4,278,965	$	798,032	$	(4,799,297	)	$	3,774,329

Following is the condensed consolidating balance sheet at December 31, 2017 (in thousands):

	Clean Harbors, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Total
Assets:
Cash and cash equivalents	$	51,638	$	207,777	$	59,984	$	—		$	319,399
Short-term marketable securities	—		—		38,179		—			38,179
Intercompany receivables	238,339		590,100		52,909		(881,348		)	—
Accounts receivable, net	—		433,042		95,882		—			528,924
Other current assets	897		233,602		52,947		(19,892		)	267,554
Property, plant and equipment, net	—		1,174,975		412,390		—			1,587,365
Investments in subsidiaries	3,112,547		569,568		—		(3,682,115		)	—
Intercompany debt receivable	—		92,530		21,000		(113,530		)	—
Goodwill	—		415,641		62,882		—			478,523
Permits and other intangibles, net	—		408,655		60,473		—			469,128
Other long-term assets	2,084		12,064		3,350		—			17,498
Total assets	$	3,405,505	$	4,137,954	$	859,996	$	(4,696,885	)	$	3,706,570
Liabilities and Stockholders’ Equity:
Current liabilities	$	16,954	$	371,135	$	135,620	$	(19,892	)	$	503,817
Intercompany payables	574,812		289,531		17,005		(881,348		)	—
Closure, post-closure and remedial liabilities, net	—		148,872		16,851		—			165,723
Long-term obligations, net	1,625,537		—		—		—			1,625,537
Intercompany debt payable	—		21,000		92,530		(113,530		)	—
Other long-term liabilities	—		201,086		22,205		—			223,291
Total liabilities	2,217,303		1,031,624		284,211		(1,014,770		)	2,518,368
Stockholders’ equity	1,188,202		3,106,330		575,785		(3,682,115		)	1,188,202
Total liabilities and stockholders’ equity	$	3,405,505	$	4,137,954	$	859,996	$	(4,696,885	)	$	3,706,570

Schedule of condensed consolidating statement of income

Following is the consolidating statement of operations for the three months ended September 30, 2018 (in thousands):

	Clean Harbors, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Total
Revenues
Service revenues	$	—		$	547,997		$	152,007		$	(14,821	)	$	685,183
Product revenues	—			140,757			20,652			(3,411		)	157,998
Total revenues	—			688,754			172,659			(18,232		)	843,181
Cost of revenues (exclusive of items shown separately below)
Service cost of revenues	—			359,703			119,730			(14,821		)	464,612
Product cost of revenues	—			109,009			10,475			(3,411		)	116,073
Total cost of revenues	—			468,712			130,205			(18,232		)	580,685
Selling, general and administrative expenses	118			101,703			19,398			—			121,219
Accretion of environmental liabilities	—			2,199			251			—			2,450
Depreciation and amortization	—			53,764			19,318			—			73,082
(Loss) income from operations	(118		)	62,376			3,487			—			65,745
Other expense, net	—			(609		)	(387		)	—			(996		)
Loss on early extinguishment of debt	(2,469		)	—			—			—			(2,469		)
Interest (expense) income, net	(20,303		)	195			192			—			(19,916		)
Equity in earnings of subsidiaries, net of taxes	47,570			260			—			(47,830		)	—
Intercompany interest income (expense)	—			199			(199		)	—			—
Income before (benefit) provision for income taxes	24,680			62,421			3,093			(47,830		)	42,364
(Benefit) provision for income taxes	(6,409		)	15,543			2,141			—			11,275
Net income	31,089			46,878			952			(47,830		)	31,089
Other comprehensive income	8,590			8,590			—			(8,590		)	8,590
Comprehensive income	$	39,679		$	55,468		$	952		$	(56,420	)	$	39,679

Following is the consolidating statement of operations for the three months ended September 30, 2017 (in thousands):

	Clean Harbors, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Total
Revenues
Service revenues	$	—		$	473,428		$	152,997		$	(14,073	)	$	612,352
Product revenues	—			127,355			19,435			(3,296		)	143,494
Total revenues	—			600,783			172,432			(17,369		)	755,846
Cost of revenues (exclusive of items shown separately below)
Service cost of revenues	—			306,291			120,151			(14,073		)	412,369
Product cost of revenues	—			97,353			13,169			(3,296		)	107,226
Total cost of revenues	—			403,644			133,320			(17,369		)	519,595
Selling, general and administrative expenses	19			92,299			20,934			—			113,252
Accretion of environmental liabilities	—			2,092			255			—			2,347
Depreciation and amortization	—			50,917			22,072			—			72,989
(Loss) income from operations	(19		)	51,831			(4,149		)	—			47,663
Other expense, net	—			(305		)	(127		)	—			(432		)
Loss on early extinguishment of debt	(1,846		)	—			—			—			(1,846		)
Loss on sale of business	—			(77		)	—			—			(77		)
Interest (expense) income, net	(21,135		)	517			(57		)	—			(20,675		)
Equity in earnings of subsidiaries, net of taxes	25,858			(5,620		)	—			(20,238		)	—
Intercompany interest income (expense)	—			1,372			(1,372		)	—			—
Income (loss) before (benefit) provision for income taxes	2,858			47,718			(5,705		)	(20,238		)	24,633
(Benefit) provision for income taxes	(9,200		)	20,824			951			—			12,575
Net income (loss)	12,058			26,894			(6,656		)	(20,238		)	12,058
Other comprehensive income	23,709			23,709			20,263			(43,972		)	23,709
Comprehensive income	$	35,767		$	50,603		$	13,607		$	(64,210	)	$	35,767

Following is the consolidating statement of operations for the nine months ended September 30, 2018 (in thousands):

	Clean Harbors, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Total
Revenues
Service revenues	$	—		$	1,574,001		$	469,843		$	(42,163	)	$	2,001,681
Product revenues	—			400,230			49,465			(9,277		)	440,418
Total revenues	—			1,974,231			519,308			(51,440		)	2,442,099
Cost of revenues (exclusive of items shown separately below)
Service cost of revenues	—			1,049,527			378,320			(42,163		)	1,385,684
Product cost of revenues	—			306,489			27,798			(9,277		)	325,010
Total cost of revenues	—			1,356,016			406,118			(51,440		)	1,710,694
Selling, general and administrative expenses	286			300,568			61,448			—			362,302
Accretion of environmental liabilities	—			6,569			759			—			7,328
Depreciation and amortization	—			160,332			60,354			—			220,686
(Loss) income from operations	(286		)	150,746			(9,371		)	—			141,089
Other expense, net	—			(425		)	(24		)	—			(449		)
Loss on early extinguishment of debt	(2,469		)	—			—			—			(2,469		)
Interest (expense) income, net	(62,518		)	938			625			—			(60,955		)
Equity in earnings of subsidiaries, net of taxes	96,202			(17,572		)	—			(78,630		)	—
Intercompany interest income (expense)	—			2,644			(2,644		)	—			—
Income (loss) before (benefit) provision for income taxes	30,929			136,331			(11,414		)	(78,630		)	77,216
(Benefit) provision for income taxes	(18,276		)	42,872			3,415			—			28,011
Net income (loss)	49,205			93,459			(14,829		)	(78,630		)	49,205
Other comprehensive loss	(13,098		)	(13,098		)	(24,442		)	37,540			(13,098		)
Comprehensive income (loss)	$	36,107		$	80,361		$	(39,271	)	$	(41,090	)	$	36,107

Following is the consolidating statement of operations for the nine months ended September 30, 2017 (in thousands):

	Clean Harbors, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Total
Revenues
Service revenues	$	—		$	1,391,534		$	431,992		$	(40,020	)	$	1,783,506
Product revenues	—			369,864			53,496			(9,291		)	414,069
Total revenues	—			1,761,398			485,488			(49,311		)	2,197,575
Cost of revenues (exclusive of items shown separately below)
Service cost of revenues	—			907,396			348,436			(40,020		)	1,215,812
Product cost of revenues	—			292,503			36,959			(9,291		)	320,171
Total cost of revenues	—			1,199,899			385,395			(49,311		)	1,535,983
Selling, general and administrative expenses	70			276,974			60,723			—			337,767
Accretion of environmental liabilities	—			6,328			725			—			7,053
Depreciation and amortization	—			154,754			62,178			—			216,932
(Loss) income from operations	(70		)	123,443			(23,533		)	—			99,840
Other expense, net	(222		)	(2,100		)	(492		)	—			(2,814		)
Loss on early extinguishment of debt	(7,891		)	—			—			—			(7,891		)
Gain on sale of business	—			31,645			—			—			31,645
Interest (expense) income, net	(66,408		)	876			(211		)	—			(65,743		)
Equity in earnings of subsidiaries, net of taxes	61,388			(32,776		)	—			(28,612		)	—
Intercompany interest income (expense)	—			3,937			(3,937		)	—			—
(Loss) income before (benefit) provision for income taxes	(13,203		)	125,025			(28,173		)	(28,612		)	55,037
(Benefit) provision for income taxes	(29,748		)	62,442			5,798			—			38,492
Net income (loss)	16,545			62,583			(33,971		)	(28,612		)	16,545
Other comprehensive income	44,858			44,858			38,132			(82,990		)	44,858
Comprehensive income	$	61,403		$	107,441		$	4,161		$	(111,602	)	$	61,403

Schedule of condensed consolidating statement of cash flows

Following is the condensed consolidating statement of cash flows for the nine months ended September 30, 2018 (in thousands):

	Clean Harbors, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Total
Net cash from operating activities	$	8,877		$	216,369		$	21,969		$	—		$	247,215
Cash flows used in investing activities:
Additions to property, plant and equipment	—			(125,098		)	(25,624		)	—			(150,722		)
Proceeds from sale and disposal of fixed assets	—			3,788			2,323			—			6,111
Acquisitions, net of cash acquired	—			(151,023		)	—			—			(151,023		)
Additions to intangible assets, including costs to obtain or renew permits	—			(3,262		)	(238		)	—			(3,500		)
Proceeds from sale of available-for-sale securities	—			—			20,123			—			20,123
Purchases of available-for-sale securities	(1,450		)	—			(19,021		)	—			(20,471		)
Intercompany	—			(40,031		)	—			40,031			—
Net cash used in investing activities	(1,450		)	(315,626		)	(22,437		)	40,031			(299,482		)
Cash flows used in financing activities:
Change in uncashed checks	—			(3,002		)	(474		)	—			(3,476		)
Tax payments related to withholdings on vested restricted stock	(2,566		)	—			—			—			(2,566		)
Repurchases of common stock	(33,581		)	—			—			—			(33,581		)
Deferred financing costs paid	(3,938		)	—			—			—			(3,938		)
Premiums paid on early extinguishment of debt	(1,219		)	—			—			—			(1,219		)
Principal payment on debt	(403,884		)	—			—			—			(403,884		)
Issuance of senior secured notes, net of discount	348,250			—			—			—			348,250
Borrowing from revolving credit facility	50,000			—			—			—			50,000
Intercompany	40,031			—			—			(40,031		)	—
Net cash used in financing activities	(6,907		)	(3,002		)	(474		)	(40,031		)	(50,414		)
Effect of exchange rate change on cash	—			—			(1,221		)	—			(1,221		)
Increase (decrease) in cash and cash equivalents	520			(102,259		)	(2,163		)	—			(103,902		)
Cash and cash equivalents, beginning of period	51,638			207,777			59,984			—			319,399
Cash and cash equivalents, end of period	$	52,158		$	105,518		$	57,821		$	—		$	215,497

Following is the condensed consolidating statement of cash flows for the nine months ended September 30, 2017 (in thousands):

	Clean Harbors, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Total
Net cash from operating activities	$	16,196		$	169,715		$	35,558		$	—		$	221,469
Cash flows from (used in) investing activities:
Additions to property, plant and equipment	—			(105,564		)	(22,172		)	—			(127,736		)
Proceeds from sale and disposal of fixed assets	—			1,625			3,750			—			5,375
Acquisitions, net of cash acquired	—			(11,427		)	(33,005		)	—			(44,432		)
Proceeds from sale of business, net of transactional costs	—			46,158			181			—			46,339
Additions to intangible assets, including costs to obtain or renew permits	—			(1,018		)	(330		)	—			(1,348		)
Proceeds from sale of available-for-sale securities	376			—			—			—			376
Intercompany	—			(27,740		)	—			27,740			—
Intercompany debt	—			—			3,701			(3,701		)	—
Net cash from (used in) investing activities	376			(97,966		)	(47,875		)	24,039			(121,426		)
Cash flows used in financing activities:
Change in uncashed checks	—			(6,140		)	(2,517		)	—			(8,657		)
Proceeds from exercise of stock options	46			—			—			—			46
Tax payments related to withholdings on vested restricted stock	(2,321		)	—			—			—			(2,321		)
Repurchases of common stock	(24,465		)	—			—			—			(24,465		)
Deferred financing costs paid	(5,746		)	—			—			—			(5,746		)
Premiums paid on early extinguishment of debt	(6,028		)	—			—			—			(6,028		)
Principal payment on debt	(401,000		)	—			—			—			(401,000		)
Issuance of senior secured notes, net of discount	399,000			—			—			—			399,000
Intercompany	27,740			—			—			(27,740		)	—
Intercompany debt	(3,701		)	—			—			3,701			—
Net cash used in financing activities	(16,475		)	(6,140		)	(2,517		)	(24,039		)	(49,171		)
Effect of exchange rate change on cash	—			—			3,789			—			3,789
Increase (decrease) in cash and cash equivalents	97			65,609			(11,045		)	—			54,661
Cash and cash equivalents, beginning of period	51,417			155,943			99,637			—			306,997
Cash and cash equivalents, end of period	$	51,514		$	221,552		$	88,592		$	—		$	361,658