GUARANTOR AND NON-GUARANTOR SUBSIDIARIES FINANCIAL INFORMATION (Tables)

6 Months Ended

Jun. 30, 2018

Guarantor and Non-Guarantor Subsidiaries Financial Information [Abstract]

Schedule of condensed consolidating balance sheet

Following is the condensed consolidating balance sheet at June 30, 2018 (in thousands):

	Clean Harbors, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Total
Assets:
Cash and cash equivalents	$	51,960	$	92,833	$	52,275	$	—		$	197,068
Short-term marketable securities	—		—		36,862		—			36,862
Intercompany receivables	250,206		651,218		61,125		(962,549		)	—
Accounts receivable, net	—		497,775		92,805		—			590,580
Other current assets	—		260,489		60,225		(8,742		)	311,972
Property, plant and equipment, net	—		1,243,171		366,211		—			1,609,382
Investments in subsidiaries	3,135,271		599,091		—		(3,734,362		)	—
Intercompany debt receivable	—		15,224		21,000		(36,224		)	—
Goodwill	—		437,229		60,022		—			497,251
Permits and other intangibles, net	—		402,096		53,824		—			455,920
Other long-term assets	2,283		12,337		1,811		(5		)	16,426
Total assets	$	3,439,720	$	4,211,463	$	806,160	$	(4,741,882	)	$	3,715,461
Liabilities and Stockholders’ Equity:
Current liabilities	$	16,627	$	406,111	$	129,672	$	(8,742	)	$	543,668
Intercompany payables	637,318		309,423		15,808		(962,549		)	—
Closure, post-closure and remedial liabilities, net	—		146,922		16,850		—			163,772
Long-term obligations, net	1,624,727		—		—		—			1,624,727
Intercompany debt payable	—		21,000		15,224		(36,224		)	—
Other long-term liabilities	—		200,999		21,252		(5		)	222,246
Total liabilities	2,278,672		1,084,455		198,806		(1,007,520		)	2,554,413
Stockholders’ equity	1,161,048		3,127,008		607,354		(3,734,362		)	1,161,048
Total liabilities and stockholders’ equity	$	3,439,720	$	4,211,463	$	806,160	$	(4,741,882	)	$	3,715,461

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 June 30, 2018 (in thousands):

	Clean Harbors, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Total
Revenues
Service revenues	$	—		$	544,521		$	165,435		$	(13,177	)	$	696,779
Product revenues	—			137,891			17,363			(2,893		)	152,361
Total revenues	—			682,412			182,798			(16,070		)	849,140
Cost of revenues (exclusive of items shown separately below)
Service cost of revenues	—			361,644			124,956			(13,177		)	473,423
Product cost of revenues	—			102,442			10,612			(2,893		)	110,161
Total cost of revenues	—			464,086			135,568			(16,070		)	583,584
Selling, general and administrative expenses	133			105,022			20,840			—			125,995
Accretion of environmental liabilities	—			2,194			254			—			2,448
Depreciation and amortization	—			52,864			19,896			—			72,760
(Loss) income from operations	(133		)	58,246			6,240			—			64,353
Other income, net	—			269			577			—			846
Interest (expense) income, net	(21,216		)	238			209			—			(20,769		)
Equity in earnings of subsidiaries, net of taxes	46,118			2,230			—			(48,348		)	—
Intercompany interest income (expense)	—			1,084			(1,084		)	—			—
Income before (benefit) provision for income taxes	24,769			62,067			5,942			(48,348		)	44,430
(Benefit) provision for income taxes	(5,978		)	18,228			1,433			—			13,683
Net income	30,747			43,839			4,509			(48,348		)	30,747
Other comprehensive loss	(4,942		)	(4,942		)	(10,435		)	15,377			(4,942		)
Comprehensive income (loss)	$	25,805		$	38,897		$	(5,926	)	$	(32,971	)	$	25,805

Following is the consolidating statement of operations for the three months ended June 30, 2017 (in thousands):

	Clean Harbors, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Total
Revenues
Service revenues	$	—		$	474,801		$	147,924		$	(11,785	)	$	610,940
Product revenues	—			125,859			18,730			(2,741		)	141,848
Total revenues	—			600,660			166,654			(14,526		)	752,788
Cost of revenues (exclusive of items shown separately below)
Service cost of revenues	—			306,960			117,181			(11,785		)	412,356
Product cost of revenues	—			98,645			11,543			(2,741		)	107,447
Total cost of revenues	—			405,605			128,724			(14,526		)	519,803
Selling, general and administrative expenses	27			92,504			19,763			—			112,294
Accretion of environmental liabilities	—			2,181			235			—			2,416
Depreciation and amortization	—			51,937			19,594			—			71,531
(Loss) income from operations	(27		)	48,433			(1,662		)	—			46,744
Other expense, net	(76		)	(406		)	(351		)	—			(833		)
Loss on early extinguishment of debt	(6,045		)	—			—			—			(6,045		)
Gain on sale of business	—			31,722			—			—			31,722
Interest (expense) income, net	(22,614		)	240			(118		)	—			(22,492		)
Equity in earnings of subsidiaries, net of taxes	43,167			(5,332		)	—			(37,835		)	—
Intercompany interest income (expense)	—			1,268			(1,268		)	—			—
Income (loss) before (benefit) provision for income taxes	14,405			75,925			(3,399		)	(37,835		)	49,096
(Benefit) provision for income taxes	(11,475		)	31,981			2,710			—			23,216
Net income (loss)	25,880			43,944			(6,109		)	(37,835		)	25,880
Other comprehensive income	15,098			15,098			12,837			(27,935		)	15,098
Comprehensive income	$	40,978		$	59,042		$	6,728		$	(65,770	)	$	40,978

Schedule of condensed consolidating statement of cash flows

Following is the condensed consolidating statement of cash flows for the six months ended June 30, 2018 (in thousands):

	Clean Harbors, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Total
Net cash from operating activities	$	790		$	121,021		$	7,859		$	—		$	129,670
Cash flows used in investing activities:
Additions to property, plant and equipment	—			(77,773		)	(16,366		)	—			(94,139		)
Proceeds from sale and disposal of fixed assets	—			1,035			1,606			—			2,641
Acquisitions, net of cash acquired	—			(123,750		)	—			—			(123,750		)
Additions to intangible assets, including costs to obtain or renew permits	—			(1,991		)	(115		)	—			(2,106		)
Proceeds from sale of available-for-sale securities	—			—			11,214			—			11,214
Purchases of available-for-sale securities	—			—			(10,001		)	—			(10,001		)
Intercompany	—			(30,657		)	—			30,657			—
Net cash used in investing activities	—			(233,136		)	(13,662		)	30,657			(216,141		)
Cash flows (used in) from financing activities:
Change in uncashed checks	—			(2,829		)	26			—			(2,803		)
Tax payments related to withholdings on vested restricted stock	(2,175		)	—			—			—			(2,175		)
Repurchases of common stock	(26,482		)	—			—			—			(26,482		)
Deferred financing costs paid	(468		)	—			—			—			(468		)
Principal payment on debt	(2,000		)	—			—			—			(2,000		)
Intercompany	30,657			—			—			(30,657		)	—
Net cash (used) from in financing activities	(468		)	(2,829		)	26			(30,657		)	(33,928		)
Effect of exchange rate change on cash	—			—			(1,932		)	—			(1,932		)
Increase (decrease) in cash and cash equivalents	322			(114,944		)	(7,709		)	—			(122,331		)
Cash and cash equivalents, beginning of period	51,638			207,777			59,984			—			319,399
Cash and cash equivalents, end of period	$	51,960		$	92,833		$	52,275		$	—		$	197,068

Following is the condensed consolidating statement of cash flows for the six months ended June 30, 2017 (in thousands):

	Clean Harbors, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Total
Net cash (used in) from operating activities	$	(93,808	)	$	206,496		$	4,243		$	—		$	116,931
Cash flows from (used in) investing activities:
Additions to property, plant and equipment	—			(75,152		)	(13,590		)	—			(88,742		)
Proceeds from sale and disposal of fixed assets	—			984			1,137			—			2,121
Acquisitions, net of cash acquired	—			(9,277		)	—			—			(9,277		)
Proceeds from sale of businesses, net of transactional costs	—			46,210			181			—			46,391
Additions to intangible assets, including costs to obtain or renew permits	—			(888		)	(351		)	—			(1,239		)
Proceeds from sale of available-for-sale securities	376			—			—			—			376
Intercompany	—			(14,343		)	—			14,343			—
Net cash from (used in) investing activities	376			(52,466		)	(12,623		)	14,343			(50,370		)
Cash flows from (used in) financing activities:
Change in uncashed checks	—			(5,977		)	(2,384		)	—			(8,361		)
Proceeds from exercise of stock options	46			—			—			—			46
Tax payments related to withholdings on vested restricted stock	(2,132		)	—			—			—			(2,132		)
Repurchases of common stock	(12,257		)	—			—			—			(12,257		)
Deferred financing costs paid	(4,727		)	—			—			—			(4,727		)
Premium paid on early extinguishment of debt	(4,665		)	—			—			—			(4,665		)
Principal payment on debt	(296,202		)	—			—			—			(296,202		)
Issuance of senior secured notes, net of discount	399,000			—			—			—			399,000
Intercompany	14,343			—			—			(14,343		)	—
Net cash from (used) in financing activities	93,406			(5,977		)	(2,384		)	(14,343		)	70,702
Effect of exchange rate change on cash	—			—			2,106			—			2,106
(Decrease) increase in cash and cash equivalents	(26		)	148,053			(8,658		)	—			139,369
Cash and cash equivalents, beginning of period	51,417			155,943			99,637			—			306,997
Cash and cash equivalents, end of period	$	51,391		$	303,996		$	90,979		$	—		$	446,366