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SEGMENT REPORTING
 6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
SEGMENT REPORTING SEGMENT REPORTING 
Segment reporting is prepared on the same basis that the Company’s chief operating decision maker, which is a committee comprised of the Company’s Co-Chief Executive Officers, 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 revenue 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 three and six months ended June 30, 2024 and 2023 (in thousands):
Three Months EndedThree Months Ended
June 30, 2024June 30, 2023
Third-Party RevenuesIntersegment Revenues (Expenses), netDirect RevenuesThird-Party RevenuesIntersegment Revenues (Expenses), netDirect Revenues
Environmental Services$1,297,298 $12,085 $1,309,383 $1,161,482 $10,554 $1,172,036 
Safety-Kleen Sustainability Solutions255,322 (12,085)243,237 236,302 (10,554)225,748 
Corporate Items99 — 99 116 — 116 
Total$1,552,719 $— $1,552,719 $1,397,900 $— $1,397,900 
Six Months EndedSix Months Ended
June 30, 2024June 30, 2023
Third-Party RevenuesIntersegment Revenues (Expenses), netDirect RevenuesThird-Party RevenuesIntersegment Revenues (Expenses), netDirect Revenues
Environmental Services$2,458,577 $23,316 $2,481,893 $2,222,464 $20,313 $2,242,777 
Safety-Kleen Sustainability Solutions470,636 (23,316)447,320 482,600 (20,313)462,287 
Corporate Items201 — 201 223 — 223 
Total$2,929,414 $— $2,929,414 $2,705,287 $— $2,705,287 
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, 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):
 Three Months EndedSix Months Ended
June 30,June 30,
 2024202320242023
Adjusted EBITDA:  
Environmental Services$359,915 $305,622 $624,390 $533,967 
Safety-Kleen Sustainability Solutions51,476 53,415 81,176 94,878 
Corporate Items(83,575)(71,531)(147,655)(126,201)
Total327,816 287,506 557,911 502,644 
Reconciliation to Consolidated Statements of Operations:  
Accretion of environmental liabilities3,304 3,486 6,521 6,893 
Stock-based compensation8,515 4,500 14,853 10,518 
Depreciation and amortization100,504 89,697 195,569 174,455 
Income from operations215,493 189,823 340,968 310,778 
Other expense, net167 1,283 1,308 1,167 
Loss on early extinguishment of debt
— — — 2,362 
Interest expense, net of interest income36,449 30,072 64,988 50,704 
Income before provision for income taxes$178,877 $158,468 $274,672 $256,545