EX-12.1 3 a2211939zex-12_1.htm EX-12.1
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EXHIBIT 12.1

Ratio of Earnings to Fixed Charges

CLEAN HARBORS, INC. AND SUBSIDIARIES

 
  For the Nine Months
Ended September 30,
  For the Year Ended December 31,  
 
  2012   2011   2011   2010   2009   2008   2007  
 
  (In thousands)
 

Income from operations before income taxes

  $ 105,287   $ 136,302   $ 184,678   $ 184,477   $ 61,472   $ 93,977     72,238  

Add (Subtract):

                                           

Capitalized interest

    (111 )   (310 )   (122 )   (541 )   (236 )   (157 )   (1,179 )

Amortization of capitalized interest

    357     361     657     616     567     542     435  

Fixed charges (see calculation below)

    40,584     33,351     45,951     35,620     23,511     18,736     22,771  
                               

Income from operations before income taxes as adjusted

  $ 146,117   $ 169,704   $ 231,165   $ 220,172   $ 85,314   $ 113,098   $ 94,265  
                               

Fixed charges:

                                           

Interest expense, net

  $ 33,836   $ 28,047   $ 39,389   $ 27,936   $ 15,999   $ 8,403   $ 13,157  

Interest income

    623     700     798     874     825     5,094     4,023  

Capitalized interest

    111     310     122     541     236     157     1,179  

Amortization of capitalized interest

    (357 )   (361 )   (657 )   (616 )   (567 )   (542 )   (435 )

Preferred stock dividend

                            206  

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

    6,371     4,655     6,300     6,885     7,018     5,624     4,641  
                               

Fixed charges

  $ 40,584   $ 33,351   $ 45,951   $ 35,620   $ 23,511   $ 18,736   $ 22,771  
                               

Ratio of earnings to fixed charges

    3.6x     5.1x     5.0x     6.2x     3.6x     6.0x     4.1x  



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Ratio of Earnings to Fixed Charges CLEAN HARBORS, INC. AND SUBSIDIARIES