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GUARANTOR AND NON-GUARANTOR SUBSIDIARIES FINANCIAL INFORMATION (Tables) | 3 Months Ended
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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 |

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