XML 43 R30.htm IDEA: XBRL DOCUMENT v3.22.4
SEGMENT REPORTING
 12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
SEGMENT REPORTING SEGMENT REPORTING
Segment reporting is prepared on the same basis that the Company's chief executive officer, who is the Company's chief operating decision maker, manages the business, makes operating decisions and assesses performance. The Company is managed and reports as two operating segments; (i) the Environmental Services segment and (ii) the Safety-Kleen Sustainability Solutions segment.
Third-party revenue is revenue billed to outside customers by a particular segment. Direct revenues is revenue allocated to the segment providing the product or service. Intersegment revenues represent the sharing of third-party revenues among the segments based on products and services provided by each segment as if the products and services were sold directly to the third-party. The intersegment revenues are shown net. The operations not managed through the Company’s operating segments described above are recorded as “Corporate Items.” 
The following tables reconcile third-party revenues to direct revenues for the years ended December 31, 2022, 2021 and 2020 (in thousands):
 For the year ended December 31, 2022
 Environmental
Services		Safety-Kleen Sustainability SolutionsCorporate
Items		Totals
Third-party revenues$4,144,973 $1,021,125 $507 $5,166,605 
Intersegment revenues (expense), net26,733 (26,733)— — 
Direct revenues$4,171,706 $994,392 $507 $5,166,605 
 For the year ended December 31, 2021
 Environmental
Services
Safety-Kleen Sustainability Solutions
Corporate
Items		Totals
Third-party revenues$3,025,907 $779,360 $299 $3,805,566 
Intersegment revenues (expense), net6,547 (6,547)— — 
Direct revenues$3,032,454 $772,813 $299 $3,805,566 
 For the year ended December 31, 2020
 Environmental
Services
Safety-Kleen Sustainability Solutions
Corporate
Items		Totals
Third-party revenues$2,637,641 $506,166 $290 $3,144,097 
Intersegment revenues (expense), net(1,740)1,740 — — 
Direct revenues$2,635,901 $507,906 $290 $3,144,097 
The primary financial measure by which the Company evaluates the performance of its segments is Adjusted EBITDA, which consists of net income plus accretion of environmental liabilities, stock-based compensation, depreciation and amortization, net interest expense, loss on early extinguishment of debt and provision for income taxes and excludes other gains, losses and non-cash charges not deemed representative of fundamental segment results and other expense (income), net. Transactions between the segments are accounted for at the Company’s best estimate based on similar transactions with outside customers.
The following table presents Adjusted EBITDA information used by management by reported segment (in thousands):
 For the years ended December 31,
 202220212020
Adjusted EBITDA:   
Environmental Services$953,053 $659,718 $665,918 
Safety-Kleen Sustainability Solutions306,327 227,354 83,214 
Corporate Items(237,252)(210,466)(175,328)
Total1,022,128 676,606 573,804 
Reconciliation to Consolidated Statements of Operations:   
Accretion of environmental liabilities12,943 11,745 11,051 
Stock-based compensation26,844 18,839 18,502 
Depreciation and amortization347,594 298,135 292,915 
Income from operations634,747 347,887 251,336 
Other (income) expense, net(2,472)515 290 
Loss on early extinguishment of debt422 — — 
(Gain) loss on sale of businesses(8,864)— 3,376 
Interest expense, net of interest income107,663 77,657 73,120 
Income from operations before provision for income taxes$537,998 $269,715 $174,550 

The following table presents assets by reported segment and in the aggregate (in thousands):
December 31, 2022December 31, 2021
Property, plant and equipment, net  
Environmental Services$1,467,641 $1,374,913 
Safety-Kleen Sustainability Solutions398,660 373,721 
Corporate Items114,001 114,541 
Total property, plant and equipment, net$1,980,302 $1,863,175 
Goodwill and Permits and other intangibles, net  
Environmental Services  
Goodwill$1,071,846 $1,085,534 
Permits and other intangibles, net462,050 498,739 
Total Environmental Services1,533,896 1,584,273 
Safety-Kleen Sustainability Solutions
Goodwill$175,032 $141,508 
Permits and other intangibles, net158,732 146,173 
Total Safety-Kleen Sustainability Solutions333,764 287,681 
Total$1,867,660 $1,871,954 
Geographic Information
As of December 31, 2022 and 2021, the Company had property, plant and equipment, net of depreciation and amortization and permits and other intangible assets, net of amortization in the following geographic locations (in thousands):
December 31, 2022December 31, 2021
Total% of TotalTotal% of Total
Property, plant and equipment, net  
United States$1,765,291 89.1 %$1,610,402 86.4 %
Canada and other foreign215,011 10.9 252,773 13.6 
Total property, plant and equipment, net$1,980,302 100.0 %$1,863,175 100.0 %
Permits and other intangibles, net  
United States$585,887 94.4 %$604,076 93.7 %
Canada and other foreign34,895 5.6 40,836 6.3 
Total permits and other intangibles, net$620,782 100.0 %$644,912 100.0 %
The following table presents the total assets by geographical area (in thousands):
December 31, 2022December 31, 2021
United States$5,595,255 $5,077,585 
Canada and other foreign534,452 576,114 
Total$6,129,707 $5,653,699