Company: CLH
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0000822818-25-000040
Chunk: 84

Company: CLEAN HARBORS INC
Filing Date: 2025-10-29
Form: 10-Q
Item: Part I, Item 8
Chunk 84
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2,492)(385)(2,877)Remedial liabilities(2,435)— (2,435)Other long-term liabilities(374)— (374)Total identifiable net assets205,268 (146)205,122 Goodwill186,911 146 187,057 Total purchase price$392,179 $— $392,179 Other intangible assets acquired include customer relationships and trademarks/tradenames and are anticipated to have estimated useful lives of between seven and 20 years with a weighted average useful life of approximately 19 years. The Company recorded the excess of the total purchase price, which includes the aggregate cash consideration paid in excess of the fair value of the tangible and intangible assets acquired and liabilities assumed, as goodwill. The goodwill recognized is attributable to the operating synergies, assembled workforce and growth potential that the Company expects to realize from the acquisition. Goodwill generated from the acquisition is not deductible for tax purposes.

11

The operations of HEPACO are included in the Company’s financial statements as of the date of acquisition. Pro forma revenue and earnings amounts on a combined basis as if this acquisition had been completed on January 1, 2024 are immaterial to the consolidated financial statements of the Company.On March 1, 2024, the Company acquired Noble Oil Services, Inc. and its subsidiaries (collectively, “Noble”) for an all-cash purchase price of $68.7 million, net of cash acquired. The acquisition of Noble expanded the SKSS segment’s oil collection operations in the southeastern region of the United States while also adding incremental production from the re-refinery owned and operated by the acquired company. The Company finalized the purchase accounting for this acquisition in the first quarter of 2025. The allocation of the purchase price was based on estimates of the fair value of assets acquired and liabilities assumed as of March 1, 2024. The following table summarizes the preliminary and final determinations and recognition of assets acquired and liabilities assumed (in thousands):At Acquisition Date As Reported December 31, 2024Measurement Period AdjustmentsFinal Allocation At Acquisition DateAccounts receivable, including unbilled receivables$5,855 $(8)$5,847 Inventories and supplies6,598 — 6,598 Prepaid expenses and other current assets408 — 408 Property, plant and equipment55,615 35 55,650 Permits and other intangibles14,500 —