XML 39 R21.htm IDEA: XBRL DOCUMENT v3.24.0.1
REMEDIAL LIABILITIES
12 Months Ended
Dec. 31, 2023
Environmental Remediation Obligations [Abstract]  
REMEDIAL LIABILITIES REMEDIAL LIABILITIES
The changes to remedial liabilities from January 1, 2022 through December 31, 2023 were as follows (in thousands):
Remedial
Liabilities for
Landfill Sites
Remedial
Liabilities for
Inactive Sites
Remedial
Liabilities
(Including
Superfund) for
Non-Landfill
Operations
Total
Balance at January 1, 2022$1,780 $59,787 $50,306 $111,873 
Liabilities assumed in acquisition of real estate— — 8,092 8,092 
Measurement period adjustments from prior period acquisition— — 338 338 
Accretion86 2,498 1,607 4,191 
Changes in estimates recorded to consolidated statement of operations877 612 1,497 
Environmental expenditures(50)(3,370)(5,375)(8,795)
Currency translation and other— (43)(863)(906)
Balance at December 31, 20221,824 59,749 54,717 116,290 
Accretion89 2,540 1,561 4,190 
Changes in estimates recorded to consolidated statement of operations19 1,713 1,896 3,628 
Expenditures(52)(3,840)(9,384)(13,276)
Currency translation and other— 115 296 411 
Balance at December 31, 2023$1,880 $60,277 $49,086 $111,243 
In the year ended December 31, 2023, the Company increased its remedial liabilities for an inactive site and an active site by $1.1 million each due to changes in the estimates of the related liabilities to account for new information obtained regarding the ultimate remediation of these sites. In the year ended December 31, 2022, the $8.1 million liability assumed in acquisition relates to real estate that the Company acquired in 2022. In purchasing the property, the Company assumed a known associated remedial liability, which was contemplated in the purchase price.
Anticipated payments at December 31, 2023 (based on current estimated costs and anticipated timing of necessary regulatory approvals to commence work on remedial activities) for each of the next five years and thereafter were as follows (in thousands):
Years ending December 31, 
2024$13,898 
202519,253 
20269,006 
20277,001 
20287,767 
Thereafter71,737 
Undiscounted remedial liabilities128,662 
Less: Discount at risk free rates(17,419)
Total remedial liabilities$111,243 
The following table presents the Company's estimated remedial liabilities and reasonably possible additional liabilities as of December 31, 2023 disaggregated by facility/site type (in thousands, except percentages):
Type of Facility or SiteRemedial
Liabilities
% of Total
Reasonably Possible
Additional Liabilities (1)
Inactive facilities not used in active conduct of the Company's business, most of which were assumed through prior period acquisitions (24 facilities)
$60,277 54.2 %$11,585 
Facilities now used in active conduct of the Company's business (45 facilities)
43,299 38.9 9,080 
Superfund sites (13 sites)
7,667 6.9 1,150 
Total$111,243 100.0 %$21,815 
___________________________________
(1)Amounts represent the high end of the range of management's best estimate of the reasonably possible additional liabilities.
The following table presents the Company's estimated remedial liabilities and reasonably possible additional liabilities as of December 31, 2023 disaggregated by facilities/sites which represent at least 5% of the total and with all other facilities/ sites combined (in thousands, except percentages):
LocationType of Facility or Site
Remedial
Liabilities(1)
% of Total
Reasonably
Possible
Additional
Liabilities(2)
Baton Rouge, LAClosed incinerator and landfill$27,883 25.1 %$4,868 
Bridgeport, NJClosed incinerator17,472 15.7 3,288 
Mercier, QuebecIdled incinerator11,501 10.3 1,735 
Linden, NJOperating solvent recycling center9,614 8.6 2,187 
Various
All other incinerators, landfills, wastewater treatment facilities and service centers (65 facilities)
37,106 33.4 8,587 
Various
Superfund sites (each representing less than 5% of total liabilities) (13 sites)
7,667 6.9 1,150 
Total $111,243 100.0 %$21,815 
_________________________________
(1)$25.0 million of the $111.2 million remedial liabilities include estimates related to the legal and administrative proceedings discussed in Note 18, "Commitments and Contingencies."
(2)Amounts represent the high end of the range of management's best estimate of the reasonably possible additional liabilities.
Revisions to remediation reserve requirements may result in upward or downward adjustments to income from operations in any given period. The Company believes that its extensive experience in the environmental services business, as well as its involvement with a large number of sites, provides a reasonable basis for estimating its aggregate liability. It is possible, however, that future changes in available technology, regulatory or enforcement developments, the results of environmental studies or other factors could necessitate the recording of additional liabilities or the revision of currently recorded liabilities that could be material. Since the Company's satisfaction of the liabilities will occur over many years, the Company cannot reasonably predict the nature or extent of possible future events or the impact that those events, if any, might have on the current estimates of remedial liabilities.