EX-12.1 3 a2194816zex-12_1.htm EXHIBIT 12.1

EXHIBIT 12.1

 

Ratio of Earnings to Fixed Charges

CLEAN HARBORS, INC.

Offer to Exchange 75/8% Senior Secured Notes due 2016

Registered under the Securities Act of 1933 for

All Outstanding Unregistered 75/8% Senior Secured Notes due 2016

 

 

 

For the Six Months
Ended June 30,

 

For the Year Ended December 31,

 

 

 

2009

 

2008

 

2008

 

2007

 

2006

 

2005

 

2004

 

 

 

(Dollars in thousands)

 

Income from operations before income taxes

 

$

24,198

 

$

43,902

 

$

93,977

 

$

72,238

 

$

52,953

 

$

29,116

 

$

8,643

 

Add (Subtract):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capitalized interest

 

(110

)

(287

)

(157

)

(1,179

)

(682

)

(91

)

(1,922

)

Amortization of capitalized interest

 

282

 

277

 

541

 

435

 

294

 

246

 

24

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges (see calculation below)

 

5,981

 

9,609

 

18,736

 

22,897

 

20,259

 

26,803

 

31,985

 

Income from operations before income taxes as adjusted

 

$

30,351

 

$

53,508

 

$

113,098

 

$

94,391

 

$

72,824

 

$

56,074

 

$

38,730

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense, net

 

$

2,989

 

$

5,900

 

$

8,403

 

$

13,157

 

$

12,447

 

$

22,754

 

$

22,297

 

Interest income

 

623

 

1,431

 

623

 

4,023

 

3,589

 

1,403

 

692

 

Capitalized interest

 

110

 

287

 

157

 

1,179

 

682

 

91

 

1,922

 

Amortization of capitalized interest

 

(282

)

(270

)

(541

)

(435

)

(294

)

(246

)

(24

)

Preferred stock dividend

 

 

 

 

332

 

314

 

317

 

5,684

 

Portion of operating lease rental expenses deemed to be representative of the interest factor

 

2,541

 

2,275

 

5,624

 

4,641

 

3,521

 

2,484

 

1,414

 

Fixed charges

 

$

5,981

 

$

9,609

 

$

18,736

 

$

22,897

 

$

20,259

 

$

26,803

 

$

31,985

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

5.1x

 

5.6x

 

6.0x

 

4.1x

 

3.6x

 

2.1x

 

1.2x