EX-12.1 10 a2214091zex-12_1.htm EX-12.1

EXHIBIT 12.1

 

Ratio of Earnings to Fixed Charges

 

CLEAN HARBORS, INC. AND SUBSIDIARIES

 

 

 

For the Year Ended December 31,

 

 

 

2012

 

2011

 

2010

 

2009

 

2008

 

 

 

(In thousands, except ratio)

 

Income from operations before income taxes

 

$

127,730

 

$

184,678

 

$

184,477

 

$

61,472

 

$

93,977

 

Add (Subtract): 

 

 

 

 

 

 

 

 

 

 

 

Capitalized interest 

 

(155

)

(451

)

(541

)

(236

)

(157

)

Amortization of capitalized interest 

 

715

 

678

 

616

 

567

 

541

 

Fixed charges (see calculation below) 

 

54,977

 

46,260

 

35,620

 

23,511

 

18,736

 

Income from operations before income taxes as adjusted 

 

$

183,267

 

$

231,165

 

$

220,172

 

$

85,314

 

$

113,098

 

Fixed charges: 

 

 

 

 

 

 

 

 

 

 

 

Interest expense, net 

 

$

47,287

 

$

39,389

 

$

27,936

 

$

15,999

 

$

8,403

 

Interest income 

 

846

 

798

 

874

 

825

 

623

 

Capitalized interest 

 

155

 

451

 

541

 

236

 

157

 

Amortization of capitalized interest 

 

(715

)

(678

)

(616

)

(567

)

(541

)

Preferred stock dividend 

 

 

 

 

 

 

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

 

7,404

 

6,300

 

6,885

 

7,018

 

5,624

 

Fixed charges 

 

$

54,977

 

$

46,260

 

$

35,620

 

$

23,511

 

$

18,736

 

Ratio of earnings to fixed charges  

 

3.3x

 

5.0x

 

6.2x

 

3.6x

 

6.0x