GUARANTOR AND NON-GUARANTOR SUBSIDIARIES FINANCIAL INFORMATION (Tables)

3 Months Ended

Mar. 31, 2018

Guarantor and Non-Guarantor Subsidiaries Financial Information [Abstract]

Schedule of condensed consolidating balance sheet

Following is the condensed consolidating balance sheet at March 31, 2018 (in thousands):

	Clean Harbors, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Total
Assets:
Cash and cash equivalents	$	51,781	$	99,662	$	34,909	$	—		$	186,352
Short-term marketable securities	—		—		37,792		—			37,792
Intercompany receivables	244,228		600,975		63,875		(909,078		)	—
Accounts receivable, net	—		457,231		94,610		—			551,841
Other current assets	—		265,477		52,050		(13,690		)	303,837
Property, plant and equipment, net	—		1,249,417		382,231		—			1,631,648
Investments in subsidiaries	3,095,335		535,503		—		(3,630,838		)	—
Intercompany debt receivable	—		89,947		21,000		(110,947		)	—
Goodwill	—		431,574		61,131		—			492,705
Permits and other intangibles, net	—		407,887		56,748		—			464,635
Other long-term assets	1,938		12,385		1,695		(12		)	16,006
Total assets	$	3,393,282	$	4,150,058	$	806,041	$	(4,664,565	)	$	3,684,816
Liabilities and Stockholders’ Equity:
Current liabilities	$	22,210	$	382,937	$	133,227	$	(13,690	)	$	524,684
Intercompany payables	600,287		306,401		2,390		(909,078		)	—
Closure, post-closure and remedial liabilities, net	—		149,316		17,388		—			166,704
Long-term obligations, net	1,625,259		—		—		—			1,625,259
Intercompany debt payable	—		21,000		89,947		(110,947		)	—
Other long-term liabilities	—		201,053		21,602		(12		)	222,643
Total liabilities	2,247,756		1,060,707		264,554		(1,033,727		)	2,539,290
Stockholders’ equity	1,145,526		3,089,351		541,487		(3,630,838		)	1,145,526
Total liabilities and stockholders’ equity	$	3,393,282	$	4,150,058	$	806,041	$	(4,664,565	)	$	3,684,816

Following is the condensed consolidating balance sheet at December 31, 2017 (in thousands):

	Clean Harbors, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Total
Assets:
Cash and cash equivalents	$	51,638	$	207,777	$	59,984	$	—		$	319,399
Short-term marketable securities	—		—		38,179		—			38,179
Intercompany receivables	238,339		590,100		52,909		(881,348		)	—
Accounts receivable, net	—		433,042		95,882		—			528,924
Other current assets	897		233,602		52,947		(19,892		)	267,554
Property, plant and equipment, net	—		1,174,975		412,390		—			1,587,365
Investments in subsidiaries	3,112,547		569,568		—		(3,682,115		)	—
Intercompany debt receivable	—		92,530		21,000		(113,530		)	—
Goodwill	—		415,641		62,882		—			478,523
Permits and other intangibles, net	—		408,655		60,473		—			469,128
Other long-term assets	2,084		12,064		3,350		—			17,498
Total assets	$	3,405,505	$	4,137,954	$	859,996	$	(4,696,885	)	$	3,706,570
Liabilities and Stockholders’ Equity:
Current liabilities	$	16,954	$	371,135	$	135,620	$	(19,892	)	$	503,817
Intercompany payables	574,812		289,531		17,005		(881,348		)	—
Closure, post-closure and remedial liabilities, net	—		148,872		16,851		—			165,723
Long-term obligations, net	1,625,537		—		—		—			1,625,537
Intercompany debt payable	—		21,000		92,530		(113,530		)	—
Other long-term liabilities	—		201,086		22,205		—			223,291
Total liabilities	2,217,303		1,031,624		284,211		(1,014,770		)	2,518,368
Stockholders’ equity	1,188,202		3,106,330		575,785		(3,682,115		)	1,188,202
Total liabilities and stockholders’ equity	$	3,405,505	$	4,137,954	$	859,996	$	(4,696,885	)	$	3,706,570

Schedule of condensed consolidating statement of income

Following is the consolidating statement of operations for the three months ended March 31, 2018 (in thousands):

	Clean Harbors, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Total
Revenues
Service revenues	$	—		$	481,483		$	152,401		$	(14,165	)	$	619,719
Product revenues	—			121,582			11,450			(2,973		)	130,059
Total revenues	—			603,065			163,851			(17,138		)	749,778
Cost of revenues (exclusive of items shown separately below)
Service cost of revenues	—			328,180			133,634			(14,165		)	447,649
Product cost of revenues	—			95,038			6,711			(2,973		)	98,776
Total cost of revenues	—			423,218			140,345			(17,138		)	546,425
Selling, general and administrative expenses	35			93,843			21,210			—			115,088
Accretion of environmental liabilities	—			2,176			254			—			2,430
Depreciation and amortization	—			53,704			21,140			—			74,844
(Loss) income from operations	(35		)	30,124			(19,098		)	—			10,991
Other expense, net	—			(85		)	(214		)	—			(299		)
Interest (expense) income, net	(20,999		)	505			224			—			(20,270		)
Equity in earnings of subsidiaries, net of taxes	2,514			(20,062		)	—			17,548			—
Intercompany interest income (expense)	—			1,361			(1,361		)	—			—
(Loss) income before (benefit) provision for income taxes	(18,520		)	11,843			(20,449		)	17,548			(9,578		)
(Benefit) provision for income taxes	(5,889		)	9,101			(159		)	—			3,053
Net (loss) income	(12,631		)	2,742			(20,290		)	17,548			(12,631		)
Other comprehensive loss	(16,746		)	(16,746		)	(14,007		)	30,753			(16,746		)
Comprehensive loss	$	(29,377	)	$	(14,004	)	$	(34,297	)	$	48,301		$	(29,377	)

Following is the consolidating statement of operations for the three months ended March 31, 2017 (in thousands):

	Clean Harbors, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Total
Revenues
Service revenues	$	—		$	443,305		$	131,071		$	(14,162	)	$	560,214
Product revenues	—			116,650			15,331			(3,254		)	128,727
Total revenues	—			559,955			146,402			(17,416		)	688,941
Cost of revenues (exclusive of items shown separately below)
Service cost of revenues	—			294,145			111,104			(14,162		)	391,087
Product cost of revenues	—			96,505			12,247			(3,254		)	105,498
Total cost of revenues	—			390,650			123,351			(17,416		)	496,585
Selling, general and administrative expenses	24			92,171			20,026			—			112,221
Accretion of environmental liabilities	—			2,055			235			—			2,290
Depreciation and amortization	—			51,900			20,512			—			72,412
(Loss) income from operations	(24		)	23,179			(17,722		)	—			5,433
Other expense, net	(146		)	(1,389		)	(14		)	—			(1,549		)
Interest (expense) income, net	(22,659		)	119			(36		)	—			(22,576		)
Equity in earnings of subsidiaries, net of taxes	(7,637		)	(21,824		)	—			29,461			—
Intercompany interest income (expense)	—			1,297			(1,297		)	—			—
(Loss) income before (benefit) provision for income taxes	(30,466		)	1,382			(19,069		)	29,461			(18,692		)
(Benefit) provision for income taxes	(9,073		)	9,637			2,137			—			2,701
Net loss	(21,393		)	(8,255		)	(21,206		)	29,461			(21,393		)
Other comprehensive income	6,051			6,051			5,032			(11,083		)	6,051
Comprehensive loss	$	(15,342	)	$	(2,204	)	$	(16,174	)	$	18,378		$	(15,342	)

Schedule of condensed consolidating statement of cash flows

Following is the condensed consolidating statement of cash flows for the three months ended March 31, 2018 (in thousands):

	Clean Harbors, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Total
Net cash from (used in) operating activities	$	143		$	69,536		$	(17,776	)	$	—		$	51,903
Cash flows used in investing activities:
Additions to property, plant and equipment	—			(37,319		)	(6,923		)	—			(44,242		)
Proceeds from sale and disposal of fixed assets	—			292			506			—			798
Acquisitions, net of cash acquired	—			(120,000		)	—			—			(120,000		)
Additions to intangible assets, including costs to obtain or renew permits	—			(1,234		)	(11		)	—			(1,245		)
Proceeds from sale of available-for-sale securities	—			—			3,264			—			3,264
Purchases of available-for-sale securities	—			—			(3,003		)	—			(3,003		)
Intercompany	—			(15,812		)	—			15,812			—
Net cash used in investing activities	—			(174,073		)	(6,167		)	15,812			(164,428		)
Cash flows used in financing activities:
Change in uncashed checks	—			(3,578		)	(265		)	—			(3,843		)
Tax payments related to withholdings on vested restricted stock	(548		)	—			—			—			(548		)
Repurchases of common stock	(14,264		)	—			—			—			(14,264		)
Principal payment on debt	(1,000		)	—			—			—			(1,000		)
Intercompany	15,812			—			—			(15,812		)	—
Net cash used in financing activities	—			(3,578		)	(265		)	(15,812		)	(19,655		)
Effect of exchange rate change on cash	—			—			(867		)	—			(867		)
Increase (decrease) in cash and cash equivalents	143			(108,115		)	(25,075		)	—			(133,047		)
Cash and cash equivalents, beginning of period	51,638			207,777			59,984			—			319,399
Cash and cash equivalents, end of period	$	51,781		$	99,662		$	34,909		$	—		$	186,352

Following is the condensed consolidating statement of cash flows for the three months ended March 31, 2017 (in thousands):

	Clean Harbors, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Total
Net cash (used in) from operating activities	$	(1,663	)	$	41,144		$	17,638		$	—		$	57,119
Cash flows from (used in) investing activities:
Additions to property, plant and equipment	—			(33,136		)	(9,326		)	—			(42,462		)
Proceeds from sale and disposal of fixed assets	—			664			366			—			1,030
Acquisitions, net of cash acquired	—			(11,946		)	—			—			(11,946		)
Proceeds from sale of business	1,837			—			181			—			2,018
Additions to intangible assets, including costs to obtain or renew permits	—			(573		)	(178		)	—			(751		)
Proceeds from sale of investments	243			—			—			—			243
Intercompany	—			(7,771		)	—			7,771			—
Net cash from (used in) investing activities	2,080			(52,762		)	(8,957		)	7,771			(51,868		)
Cash flows used in financing activities:
Change in uncashed checks	—			(5,165		)	(2,392		)	—			(7,557		)
Proceeds from exercise of stock options	46			—			—			—			46
Tax payments related to withholdings on vested restricted stock	(1,021		)	—			—			—			(1,021		)
Repurchases of common stock	(6,796		)	—			—			—			(6,796		)
Deferred financing costs paid	(108		)	—			—			—			(108		)
Intercompany	7,771			—			—			(7,771		)	—
Net cash used in financing activities	(108		)	(5,165		)	(2,392		)	(7,771		)	(15,436		)
Effect of exchange rate change on cash	—			—			554			—			554
Increase (decrease) in cash and cash equivalents	309			(16,783		)	6,843			—			(9,631		)
Cash and cash equivalents, beginning of period	51,417			155,943			99,637			—			306,997
Cash and cash equivalents, end of period	$	51,726		$	139,160		$	106,480		$	—		$	297,366