Attached files
| file | filename |
|---|---|
| 8-K - 8-K - CLEAN HARBORS INC | a13-14999_18k.htm |
EXHIBIT 99.1
2012 Unaudited Recast Segment Information by Quarter and Full Year
The table below presents reportable segment results as recast (unaudited, in thousands):
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Summary of Operations (in thousands) |
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For the Three Months Ended |
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For the Year |
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March 31, |
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June 30, 2012 |
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September 30, |
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December 31, |
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December 31, |
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Third Party Revenues: |
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|
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|
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|
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Technical Services |
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$ |
221,637 |
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$ |
243,321 |
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$ |
247,355 |
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$ |
245,451 |
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$ |
957,764 |
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Industrial and Field Services |
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202,779 |
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202,618 |
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203,371 |
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219,351 |
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828,119 |
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Oil and Gas Field Services |
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146,905 |
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76,849 |
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82,812 |
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93,983 |
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400,549 |
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Corporate Items |
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701 |
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330 |
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268 |
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177 |
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1,476 |
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Total |
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$ |
572,022 |
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$ |
523,118 |
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$ |
533,806 |
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$ |
558,962 |
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$ |
2,187,908 |
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Direct Revenues: |
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|
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Technical Services |
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$ |
231,196 |
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$ |
252,186 |
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$ |
254,971 |
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$ |
253,343 |
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$ |
991,696 |
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Industrial and Field Services |
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191,570 |
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191,406 |
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194,594 |
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209,683 |
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787,253 |
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Oil and Gas Field Services |
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148,828 |
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79,718 |
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84,640 |
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96,167 |
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409,353 |
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Corporate Items |
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428 |
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(192 |
) |
(399 |
) |
(231 |
) |
(394 |
) | |||||
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Total |
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572,022 |
|
523,118 |
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533,806 |
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558,962 |
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2,187,908 |
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Cost of Revenues (exclusive of items shown separately) (1): |
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Technical Services |
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156,412 |
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163,706 |
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169,484 |
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170,387 |
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659,989 |
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Industrial and Field Services |
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142,566 |
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136,341 |
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138,105 |
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152,253 |
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569,265 |
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Oil and Gas Field Services |
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99,669 |
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64,254 |
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63,725 |
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74,051 |
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301,699 |
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Corporate Items |
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1,668 |
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3,322 |
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1,626 |
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3,052 |
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9,668 |
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Total |
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400,315 |
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367,623 |
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372,940 |
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399,743 |
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1,540,621 |
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Selling, General and Administrative Expenses: |
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Technical Services |
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22,873 |
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19,959 |
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17,246 |
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21,800 |
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81,878 |
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Industrial and Field Services |
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14,926 |
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14,507 |
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13,211 |
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16,413 |
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59,057 |
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Oil and Gas Field Services |
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8,963 |
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7,493 |
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6,783 |
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7,367 |
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30,606 |
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Corporate Items |
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23,997 |
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24,835 |
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23,099 |
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30,048 |
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101,979 |
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Total |
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70,759 |
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66,794 |
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60,339 |
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75,628 |
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273,520 |
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Adjusted EBITDA (2): |
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Technical Services |
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51,911 |
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68,521 |
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68,241 |
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61,156 |
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249,829 |
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Industrial and Field Services |
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34,078 |
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40,558 |
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43,278 |
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41,017 |
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158,931 |
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Oil and Gas Field Services |
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40,196 |
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7,971 |
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14,132 |
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14,749 |
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77,048 |
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Corporate Items |
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(25,237 |
) |
(28,349 |
) |
(25,124 |
) |
(33,331 |
) |
(112,041 |
) | |||||
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Total |
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$ |
100,948 |
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$ |
88,701 |
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$ |
100,527 |
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$ |
83,591 |
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$ |
373,767 |
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(1) Items shown separately consist of (i) accretion of environmental liabilities and (ii) depreciation and amortization.
(2) The following is a reconciliation of net income to Adjusted EBITDA (unaudited, in thousands):
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For the Three Months Ended |
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For the Year |
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March 31, |
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June 30, |
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September 30, |
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December 31, |
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December 31, |
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Net income |
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$ |
32,015 |
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$ |
23,426 |
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$ |
12,359 |
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$ |
61,874 |
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$ |
129,674 |
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Accretion of environmental liabilities |
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2,416 |
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2,505 |
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2,488 |
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2,508 |
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9,917 |
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Depreciation and amortization |
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36,831 |
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38,663 |
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41,300 |
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44,852 |
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161,646 |
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Other expense |
|
299 |
|
75 |
|
91 |
|
337 |
|
802 |
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Loss on early extinguishment of debt |
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— |
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— |
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26,385 |
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— |
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26,385 |
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Interest expense, net |
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11,272 |
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10,968 |
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11,596 |
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13,451 |
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47,287 |
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Provision (benefit) for income taxes |
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18,115 |
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13,064 |
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6,308 |
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(39,431 |
) |
(1,944 |
) | |||||
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Adjusted EBITDA |
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$ |
100,948 |
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$ |
88,701 |
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$ |
100,527 |
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$ |
83,591 |
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$ |
373,767 |
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