GUARANTOR AND NON-GUARANTOR SUBSIDIARIES FINANCIAL INFORMATION (Tables)

6 Months Ended

Jun. 30, 2011

GUARANTOR AND NON-GUARANTOR SUBSIDIARIES FINANCIAL INFORMATION

Schedule of condensed consolidating balance sheet

	Clean Harbors, Inc.		U.S. Guarantor Subsidiaries		Foreign Non-Guarantor Subsidiaries		Consolidating Adjustments			Total
Assets:
Cash and cash equivalents	$	196,896	$	118,563	$	62,117	$	—		$	377,576
Intercompany receivables	358,947		—		—		(358,947		)	—
Other current assets	16,322		270,797		201,677		—			488,796
Property, plant and equipment, net	—		337,544		510,732		—			848,276
Investments in subsidiaries	900,630		354,556		154,525		(1,409,711		)	—
Intercompany debt receivable	—		480,525		3,701		(484,226		)	—
Other long-term assets	14,660		86,969		148,803		—			250,432
Total assets	$	1,487,455	$	1,648,954	$	1,081,555	$	(2,252,884	)	$	1,965,080
Liabilities and Stockholders’ Equity:
Current liabilities	$	37,492	$	164,082	$	123,856	$	—		$	325,430
Intercompany payables	—		206,330		152,617		(358,947		)	—
Closure, post-closure and remedial liabilities, net	—		134,710		21,744		—			156,454
Long-term obligations	524,994		—		—		—			524,994
Capital lease obligations, net	—		744		8,365		—			9,109
Intercompany debt payable	3,701		—		480,525		(484,226		)	—
Other long-term liabilities	63,900		6,676		21,149		—			91,725
Total liabilities	630,087		512,542		808,256		(843,173		)	1,107,712
Stockholders’ equity	857,368		1,136,412		273,299		(1,409,711		)	857,368
Total liabilities and stockholders’ equity	$	1,487,455	$	1,648,954	$	1,081,555	$	(2,252,884	)	$	1,965,080

Following is the condensed consolidating balance sheet at December 31, 2010 (in thousands):

	Clean Harbors, Inc.		U.S. Guarantor Subsidiaries		Foreign Non-Guarantor Subsidiaries		Consolidating Adjustments			Total
Assets:
Cash and cash equivalents	$	100,476	$	124,582	$	77,152	$	—		$	302,210
Intercompany receivables	371,559		—		—		(371,559		)	—
Other current assets	15,521		279,895		154,911		—			450,327
Property, plant and equipment, net	—		302,028		353,366		—			655,394
Investments in subsidiaries	628,723		259,294		91,654		(979,671		)	—
Intercompany debt receivable	—		368,804		3,701		(372,505		)	—
Other long-term assets	7,768		87,888		98,888		—			194,544
Total assets	$	1,124,047	$	1,422,491	$	779,672	$	(1,723,735	)	$	1,602,475
Liabilities and Stockholders’ Equity:
Current liabilities	$	13,935	$	201,384	$	90,965	$	—		$	306,284
Intercompany payables	—		222,750		148,809		(371,559		)	—
Closure, post-closure and remedial liabilities, net	—		141,280		20,494		—			161,774
Long-term obligations	264,007		—		—		—			264,007
Capital lease obligations, net	—		249		6,590		—			6,839
Intercompany debt payable	3,701		—		368,804		(372,505		)	—
Other long-term liabilities	61,577		2,531		18,636		—			82,744
Total liabilities	343,220		568,194		654,298		(744,064		)	821,648
Stockholders’ equity	780,827		854,297		125,374		(979,671		)	780,827
Total liabilities and stockholders’ equity	$	1,124,047	$	1,422,491	$	779,672	$	(1,723,735	)	$	1,602,475

Schedule of consolidating statement of income

Following is the consolidating statement of income for the three months ended June 30, 2011 (in thousands):

	Clean Harbors, Inc.			U.S. Guarantor Subsidiaries		Foreign Non-Guarantor Subsidiaries			Consolidating Adjustments			Total
Revenues	$	—		$	263,194	$	189,238		$	(5,197	)	$	447,235
Cost of revenues (exclusive of items shown separately below)	—			178,057		134,894			(5,197		)	307,754
Selling, general and administrative expenses	8			38,621		19,625			—			58,254
Accretion of environmental liabilities	—			2,090		317			—			2,407
Depreciation and amortization	—			12,693		14,243			—			26,936
Income from operations	(8		)	31,733		20,159			—			51,884
Other income	—			394		2,474			—			2,868
Interest (expense) income	(10,630		)	5		(17		)	—			(10,642		)
Equity in earnings of subsidiaries	43,534			24,411		—			(67,945		)	—
Intercompany dividend income (expense)	—			—		3,537			(3,537		)	—
Intercompany interest income (expense)	—			8,970		(8,970		)	—			—
Income from operations before provision for income taxes	32,896			65,513		17,183			(71,482		)	44,110
Provision for income taxes	3,740			6,849		4,365			—			14,954
Net income (loss)	$	29,156		$	58,664	$	12,818		$	(71,482	)	$	29,156

Following is the consolidating statement of income for the three months ended June 30, 2010 (in thousands):

	Clean Harbors, Inc.			U.S. Guarantor Subsidiaries		Foreign Non-Guarantor Subsidiaries			Consolidating Adjustments			Total
Revenues	$	—		$	322,580	$	147,607		$	1,452		$	471,639
Cost of revenues (exclusive of items shown separately below)	—			214,558		108,270			1,452			324,280
Selling, general and administrative expenses	25			36,973		13,731			—			50,729
Accretion of environmental liabilities	—			2,320		282			—			2,602
Depreciation and amortization	—			11,478		10,627			—			22,105
Income from operations	(25		)	57,251		14,697			—			71,923
Other income	—			38		2,670			—			2,708
Interest (expense) income	(7,229		)	36		(453		)	—			(7,646		)
Equity in earnings of subsidiaries	74,197			22,155		—			(96,352		)	—
Intercompany dividend income (expense)	—			—		3,326			(3,326		)	—
Intercompany interest income (expense)	—			8,329		(8,329		)	—			—
Income from continuing operations before provision for income taxes	66,943			87,809		11,911			(99,678		)	66,985
Provision for income taxes	9,014			12,060		(9,606		)	—			11,468
Income from continuing operations	57,929			75,749		21,517			(99,678		)	55,517
Income from discontinued operations, net of tax	—			—		2,412			—			2,412
Net income	$	57,929		$	75,749	$	23,929		$	(99,678	)	$	57,929

Following is the consolidating statement of income for the six months ended June 30, 2011 (in thousands):

	Clean Harbors, Inc.			U.S. Guarantor Subsidiaries		Foreign Non-Guarantor Subsidiaries			Consolidating Adjustments			Total
Revenues	$	—		$	511,561	$	382,026		$	(11,390	)	$	882,197
Cost of revenues (exclusive of items shown separately below)	—			353,495		278,226			(11,390		)	620,331
Selling, general and administrative expenses	50			74,732		38,266			—			113,048
Accretion of environmental liabilities	—			4,177		619			—			4,796
Depreciation and amortization	—			25,691		26,705			—			52,396
Income from operations	(50		)	53,466		38,210			—			91,626
Other income	—			3,730		2,037			—			5,767
Interest (expense) income	(17,306		)	173		13			—			(17,120		)
Equity in earnings of subsidiaries	76,865			31,712		—			(108,577		)	—
Intercompany dividend income (expense)	—			—		6,993			(6,993		)	—
Intercompany interest income (expense)	—			17,700		(17,700		)	—			—
Income from operations before provision for income taxes	59,509			106,781		29,553			(115,570		)	80,273
Provision for income taxes	7,623			13,176		7,588			—			28,387
Net income	$	51,886		$	93,605	$	21,965		$	(115,570	)	$	51,886

Following is the consolidating statement of income for the six months ended June 30, 2010 (in thousands):

	Clean Harbors, Inc.			U.S. Guarantor Subsidiaries		Foreign Non-Guarantor Subsidiaries			Consolidating Adjustments			Total
Revenues	$	—		$	523,423	$	306,928		$	(3,816	)	$	826,535
Cost of revenues (exclusive of items shown separately below)	—			361,408		227,105			(3,816		)	584,697
Selling, general and administrative expenses	50			69,044		27,119			—			96,213
Accretion of environmental liabilities	—			4,740		564			—			5,304
Depreciation and amortization	—			23,527		21,252			—			44,779
Income from operations	(50		)	64,704		30,888			—			95,542
Other income	—			314		2,840			—			3,154
Interest (expense) income	(14,472		)	49		(151		)	—			(14,574		)
Equity in earnings of subsidiaries	93,215			26,816		—			(120,031		)	—
Intercompany dividend income (expense)	—			—		6,612			(6,612		)	—
Intercompany interest income (expense)	—			16,207		(16,207		)	—			—
Income from continuing operations before provision for income taxes	78,693			108,090		23,982			(126,643		)	84,122
Provision for income taxes	10,334			14,364		(6,141		)	—			18,557
Income from continuing operations	68,359			93,726		30,123			(126,643		)	65,565
Income from discontinued operations, net of tax	—			—		2,794			—			2,794
Net income	$	68,359		$	93,726	$	32,917		$	(126,643	)	$	68,359

Schedule of condensed consolidating statement of cash flows

Following is the condensed consolidating statement of cash flows for the six months ended June 30, 2011 (in thousands):

	Clean Harbors, Inc.			U.S. Guarantor Subsidiaries			Foreign Non-Guarantor Subsidiaries			Total
Net cash from operating activities	$	4,474		$	28,763		$	42,392		$	75,629
Cash flows from investing activities:
Additions to property, plant and equipment	—			(40,991		)	(24,469		)	(65,460		)
Acquisitions, net of cash acquired	—			—			(205,922		)	(205,922		)
Costs to obtain or renew permits				(298		)	(768		)	(1,066		)
Proceeds from sales of fixed assets	—			361			4,530			4,891
Proceeds from sales of marketable securities	—			—			388			388
Investment in subsidiaries	(173,540		)	115,784			57,756			—
Net cash from investing activities	(173,540		)	74,856			(168,485		)	(267,169		)
Cash flows from financing activities:
Change in uncashed checks	—			11,329			2,417			13,746
Proceeds from exercise of stock options	783			—			—			783
Proceeds from employee stock purchase plan	1,556			—			—			1,556
Remittance of shares, net	(1,807		)	—			—			(1,807		)
Excess tax benefit of stock-based compensation	1,617			—			—			1,617
Deferred financing costs paid	(8,099		)	—			—			(8,099		)
Payments on capital leases	—			(318		)	(2,998		)	(3,316		)
Distribution of cash earned on employee participation plan	—			—			(189		)	(189		)
Issuance of senior secured notes, including premium	261,250			—			—			261,250
Dividends (paid) / received	10,186			(24,306		)	14,120			—
Interest (payments) / received	—			24,132			(24,132		)	—
Intercompany debt	—			(120,475		)	120,475			—
Net cash from financing activities	265,486			(109,638		)	109,693			265,541
Effect of exchange rate change on cash	—			—			1,365			1,365
Increase in cash and cash equivalents	96,420			(6,019		)	(15,035		)	75,366
Cash and cash equivalents, beginning of period	100,476			124,582			77,152			302,210
Cash and cash equivalents, end of period	$	196,896		$	118,563		$	62,117		$	377,576

Following is the condensed consolidating statement of cash flows for the six months ended June 30, 2010 (in thousands):

	Clean Harbors, Inc.			U.S. Guarantor Subsidiaries			Foreign Non-Guarantor Subsidiaries			Total
Net cash from operating activities	$	(155	)	$	65,613		$	31,859		$	97,317
Cash flows from investing activities:
Additions to property, plant and equipment	—			(17,535		)	(17,955		)	(35,490		)
Acquisitions, net of cash acquired	—			(13,751		)	—			(13,751		)
Costs to obtain or renew permits	—			(946		)	(1,246		)	(2,192		)
Proceeds from sale of fixed assets and assets held for sale	—			930			14,664			15,594
Proceeds from sale of marketable securities	—			—			2,575			2,575
Proceeds from sale of long-term investments	—			1,300			—			1,300
Proceeds from insurance settlement	—			—			1,336			1,336
Investment in subsidiaries	(236,700		)	236,700			—			—
Net cash from investing activities	(236,700		)	206,698			(626		)	(30,628		)
Cash flows from financing activities:
Change in uncashed checks	—			(1,317		)	(2,283		)	(3,600		)
Proceeds from exercise of stock options	318			—			—			318
Proceeds from employee stock purchase plan	1,187			—			—			1,187
Remittance of shares, net	(113		)	—			—			(113		)
Excess tax benefit of stock-based compensation	782			—			—			782
Deferred financing costs paid	(53		)	—			—			(53		)
Payments of capital leases	—			(79		)	(1,673		)	(1,752		)
Distribution of cash earned on employee participation plan	—			—			(148		)	(148		)
Interest (payments) / received	—			9,136			(9,136		)	—
Intercompany debt	236,700			(236,700		)	—			—
Net cash from financing activities	238,821			(228,960		)	(13,240		)	(3,379		)
Effect of exchange rate change on cash	—			—			(1,556		)	(1,556		)
Increase in cash and cash equivalents	1,966			43,351			16,437			61,754
Cash and cash equivalents, beginning of period	141,338			50,408			41,800			233,546
Cash and cash equivalents, end of period	$	143,304		$	93,759		$	58,237		$	295,300