XML 35 R25.htm IDEA: XBRL DOCUMENT
v3.20.2

SEGMENT REPORTING | 9 Months Ended
--- | ---
Sep. 30, 2020
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 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 table reconciles third-party revenues to direct revenues for the three and nine months ended September 30, 2020 and September 30, 2019 (in thousands):
| For the Three Months Ended September 30, 2020 |  | For the Three Months Ended September 30, 2019
| Third-party revenues |  | Intersegment revenues, net |  | Corporate Items, net |  | Direct revenues |  | Third-party revenues |  | Intersegment revenues, net |  | Corporate Items, net |  | Direct revenues
Environmental Services | $ | 498,183 |  |  | $ | 29,448 |  |  | $ | 339 |  |  | $ | 527,970 |  |  | $ | 550,122 |  |  | $ | 35,274 |  |  | $ | 1,476 |  |  | $ | 586,872 |
Safety-Kleen | 281,089 |  |  | (29,448) |  |  | (1) |  |  | 251,640 |  |  | 341,417 |  |  | (35,274) |  |  | 2 |  |  | 306,145 |
Corporate Items | 72 |  |  | — |  |  | (338) |  |  | (266) |  |  | 129 |  |  | — |  |  | (1,478) |  |  | (1,349) |
Total | $ | 779,344 |  |  | $ | — |  |  | $ | — |  |  | $ | 779,344 |  |  | $ | 891,668 |  |  | $ | — |  |  | $ | — |  |  | $ | 891,668 |
| For the Nine Months Ended September 30, 2020 |  | For the Nine Months Ended September 30, 2019
| Third-party revenues |  | Intersegment revenues, net |  | Corporate Items, net |  | Direct revenues |  | Third-party revenues |  | Intersegment revenues, net |  | Corporate Items, net |  | Direct revenues
Environmental Services | $ | 1,490,641 |  |  | $ | 97,782 |  |  | $ | 2,823 |  |  | $ | 1,591,246 |  |  | $ | 1,550,114 |  |  | $ | 105,555 |  |  | $ | 3,301 |  |  | $ | 1,658,970 |
Safety-Kleen | 857,048 |  |  | (97,782) |  |  | 142 |  |  | 759,408 |  |  | 990,146 |  |  | (105,555) |  |  | 15 |  |  | 884,606 |
Corporate Items | 218 |  |  | — |  |  | (2,965) |  |  | (2,747) |  |  | 925 |  |  | — |  |  | (3,316) |  |  | (2,391) |
Total | $ | 2,347,907 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,347,907 |  |  | $ | 2,541,185 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,541,185 |
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, depreciation and amortization, net interest expense, loss on early extinguishment of debt, provision for income taxes and other gains, losses or 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 Three Months Ended |  | For the Nine Months Ended
| September 30, |  | September 30,
| 2020 |  | 2019 |  | 2020 |  | 2019
Adjusted EBITDA: |  |  |  |  |  |  |
Environmental Services | $ | 140,854 |  |  | $ | 121,658 |  |  | $ | 387,851 |  |  | $ | 329,036 |
Safety-Kleen | 68,761 |  |  | 81,326 |  |  | 176,498 |  |  | 215,578 |
Corporate Items | (48,444) |  |  | (46,371) |  |  | (145,108) |  |  | (136,513) |
Total | 161,171 |  |  | 156,613 |  |  | 419,241 |  |  | 408,101 |
Reconciliation to Consolidated Statements of Operations: |  |  |  |  |  |  |
Accretion of environmental liabilities | 2,822 |  |  | 2,490 |  |  | 8,149 |  |  | 7,624 |
Depreciation and amortization | 74,470 |  |  | 73,756 |  |  | 221,497 |  |  | 223,328 |
Income from operations | 83,879 |  |  | 80,367 |  |  | 189,595 |  |  | 177,149 |
Other (income) expense, net | (2,268) |  |  | 427 |  |  | 597 |  |  | (1,992) |
Loss on early extinguishment of debt | — |  |  | 6,119 |  |  | — |  |  | 6,119 |
Loss on sale of businesses | 118 |  |  | — |  |  | 3,376 |  |  | — |
Interest expense, net of interest income | 17,407 |  |  | 19,702 |  |  | 54,848 |  |  | 59,681 |
Income before provision for income taxes | $ | 68,622 |  |  | $ | 54,119 |  |  | $ | 130,774 |  |  | $ | 113,341 |
The following table presents certain assets by reportable segment and in the aggregate (in thousands):
| September 30, 2020 |  | December 31, 2019
Property, plant and equipment, net: |  |  |
Environmental Services | $ | 890,262 |  |  | $ | 939,352 |
Safety-Kleen | 559,178 |  |  | 555,310 |
Corporate Items | 89,893 |  |  | 93,489 |
Total property, plant and equipment, net | $ | 1,539,333 |  |  | $ | 1,588,151 |
Goodwill and Permits and other intangibles, net: |  |  |
Environmental Services |  |  |
Goodwill | $ | 211,139 |  |  | $ | 212,531 |
Permits and other intangibles, net | 80,535 |  |  | 89,722 |
Total Environmental Services | 291,674 |  |  | 302,253 |
Safety-Kleen |  |  |
Goodwill | $ | 313,122 |  |  | $ | 312,482 |
Permits and other intangibles, net | 311,866 |  |  | 329,344 |
Total Safety-Kleen | 624,988 |  |  | 641,826 |
Total | $ | 916,662 |  |  | $ | 944,079 |
The following table presents the total assets by geographical area (in thousands):
| September 30, 2020 |  | December 31, 2019
United States | $ | 3,452,839 |  |  | $ | 3,413,254 |
Canada and other foreign | 653,348 |  |  | 695,650 |
Total | $ | 4,106,187 |  |  | $ | 4,108,904 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration