EX-12.1 3 a2210830zex-12_1.htm EX-12.1

EXHIBIT 12.1

 

Ratio of Earnings to Fixed Charges

CLEAN HARBORS, INC.

Offer to Exchange 5.25% Senior Notes due 2020

Registered under the Securities Act of 1933 for

All Outstanding Unregistered 5.25% Senior Notes due 2020

 

 

 

For the Six Months
Ended June 30,

 

For the Year Ended December 31,

 

 

 

2012

 

2011

 

2011

 

2010

 

2009

 

2008

 

2007

 

 

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from operations before income taxes

 

$

86,620

 

$

80,273

 

$

184,678

 

$

184,477

 

$

61,472

 

$

93,977

 

72,238

 

Add (Subtract):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capitalized interest

 

(49

)

(393

)

(451

)

(541

)

(236

)

(157

)

(1,179

)

Amortization of capitalized interest

 

362

 

377

 

678

 

616

 

567

 

541

 

435

 

Fixed charges (see calculation below)

 

27,790

 

21,672

 

46,260

 

35,620

 

23,511

 

18,736

 

22,897

 

Income from operations before income taxes as adjusted

 

$

114,723

 

$

101,929

 

$

231,165

 

$

220,172

 

$

85,314

 

$

113,098

 

$

94,391

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense, net

 

$

22,240

 

$

17,120

 

$

39,389

 

$

27,936

 

$

15,999

 

$

8,403

 

$

13,157

 

Interest income

 

402

 

546

 

798

 

874

 

825

 

623

 

4,023

 

Capitalized interest

 

49

 

393

 

451

 

541

 

236

 

157

 

1,179

 

Amortization of capitalized interest

 

(362

)

(377

)

(678

)

(616

)

(567

)

(541

)

(435

)

Preferred stock dividend

 

 

 

 

 

 

 

332

 

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

 

5,461

 

3,990

 

6,300

 

6,885

 

7,018

 

5,624

 

4,641

 

Fixed charges

 

$

27,790

 

$

21,672

 

$

46,260

 

$

35,620

 

$

23,511

 

$

18,736

 

$

22,897

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

4.1x

 

4.7x

 

5.0x

 

6.2x

 

3.6x

 

6.0x

 

4.1x