Attached files
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| 8-K - 8-K - CLEAN HARBORS INC | form8k.htm |
EXHIBIT 99.1
Full Year 2017 by Quarter and Full Year 2016 Unaudited Segment Information
The following table sets forth certain financial information associated with our results of operations (unaudited, in thousands):
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Summary of Operations (in thousands) | |||||||||||||||||||||||
For the Three Months Ended | For the Twelve Months Ended | ||||||||||||||||||||||
March 31, 2017 | June 30, 2017 | September 30, 2017 | December 31, 2017 | December 31, 2017 | December 31, 2016 | ||||||||||||||||||
Direct Revenues(1): | |||||||||||||||||||||||
Environmental Services | $ | 428,896 | $ | 481,590 | $ | 472,681 | $ | 474,307 | $ | 1,857,474 | $ | 1,758,833 | |||||||||||
Safety-Kleen | 260,835 | 271,315 | 283,274 | 272,462 | 1,087,886 | 996,083 | |||||||||||||||||
Corporate Items | (790 | ) | (117 | ) | (109 | ) | 634 | (382 | ) | 310 | |||||||||||||
Total | 688,941 | 752,788 | 755,846 | 747,403 | 2,944,978 | 2,755,226 | |||||||||||||||||
Cost of Revenues(2): | |||||||||||||||||||||||
Environmental Services | 327,861 | 347,042 | 345,951 | 352,935 | 1,373,789 | 1,287,629 | |||||||||||||||||
Safety-Kleen | 171,748 | 172,684 | 175,220 | 170,692 | 690,344 | 645,275 | |||||||||||||||||
Corporate Items | (3,024 | ) | 77 | (1,576 | ) | 3,063 | (1,460 | ) | (47 | ) | |||||||||||||
Total | 496,585 | 519,803 | 519,595 | 526,690 | 2,062,673 | 1,932,857 | |||||||||||||||||
Selling, General and Administrative Expenses: | |||||||||||||||||||||||
Environmental Services | 40,845 | 39,716 | 40,225 | 41,589 | 162,375 | 152,129 | |||||||||||||||||
Safety-Kleen | 36,719 | 38,350 | 37,749 | 34,913 | 147,731 | 131,262 | |||||||||||||||||
Corporate Items | 34,657 | 34,228 | 35,278 | 42,379 | 146,542 | 138,624 | |||||||||||||||||
Total | 112,221 | 112,294 | 113,252 | 118,881 | 456,648 | 422,015 | |||||||||||||||||
Adjusted EBITDA | |||||||||||||||||||||||
Environmental Services | 60,190 | 94,832 | 86,505 | 79,783 | 321,310 | 319,075 | |||||||||||||||||
Safety-Kleen | 52,368 | 60,281 | 70,305 | 66,857 | 249,811 | 219,546 | |||||||||||||||||
Corporate Items | (32,423 | ) | (34,422 | ) | (33,811 | ) | (44,808 | ) | (145,464 | ) | (138,267 | ) | |||||||||||
Total | $ | 80,135 | $ | 120,691 | $ | 122,999 | $ | 101,832 | $ | 425,657 | $ | 400,354 | |||||||||||
(1) Direct revenue is revenue allocated to the segment performing the provided service.
(2) Cost of revenue is shown exclusive of items presented separately on the statements of operations, which consist of (i) accretion of environmental liabilities and (ii) depreciation and amortization.
The following is a reconciliation of net (loss) income to Adjusted EBITDA (unaudited, in thousands):
For the Three Months Ended | For the Twelve Months Ended | ||||||||||||||||||||||
March 31, 2017 | June 30, 2017 | September 30, 2017 | December 31, 2017 | December 31, 2017 | December 31, 2016 | ||||||||||||||||||
Net (loss) income | $ | (21,393 | ) | $ | 25,880 | $ | 12,058 | $ | 84,194 | $ | 100,739 | $ | (39,873 | ) | |||||||||
Accretion of environmental liabilities | 2,290 | 2,416 | 2,347 | 2,407 | 9,460 | 10,177 | |||||||||||||||||
Depreciation and amortization | 72,412 | 71,531 | 72,989 | 71,490 | 288,422 | 287,002 | |||||||||||||||||
Goodwill impairment charge | — | — | — | — | — | 34,013 | |||||||||||||||||
Other expense (income), net | 1,549 | 833 | 432 | 3,305 | 6,119 | (6,195 | ) | ||||||||||||||||
Loss on early extinguishment of debt | — | 6,045 | 1,846 | — | 7,891 | — | |||||||||||||||||
(Gain) loss on sale of businesses | — | (31,722 | ) | 77 | 913 | (30,732 | ) | (16,884 | ) | ||||||||||||||
Interest expense, net | 22,576 | 22,492 | 20,675 | 20,065 | 85,808 | 83,525 | |||||||||||||||||
Provision (benefit) for income taxes | 2,701 | 23,216 | 12,575 | (80,542 | ) | (42,050 | ) | 48,589 | |||||||||||||||
Adjusted EBITDA | $ | 80,135 | $ | 120,691 | $ | 122,999 | $ | 101,832 | $ | 425,657 | $ | 400,354 | |||||||||||