Company: CLH
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000822818-25-000007
Chunk: 171

Company: CLEAN HARBORS INC
Filing Date: 2025-02-19
Form: 10-K
Item: Item 1
Chunk 171
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, which is a non-GAAP measure, including a reconciliation of net income to Adjusted EBITDA, appears below under “Adjusted EBITDA.”

Net cash from operating activities for 2024 was $777.8 million, an increase of $43.2 million from 2023. Adjusted free cash flow, which management uses to measure our financial strength and ability to generate cash, was $357.9 million in 2024, which represented a $32.7 million increase over 2023. This increase was due to incremental net cash generated by operating activities, partially offset by higher spend on property plant and equipment, net of proceeds from the sale and disposal of fixed assets. Additional information regarding adjusted free cash flow, which is a non-GAAP measure, including a reconciliation of net cash from operating activities to adjusted free cash flow, appears below under “Adjusted Free Cash Flow.”

31

Segment Performance

The primary financial measure by which we evaluate the performance of our segments is Adjusted EBITDA. The following table sets forth certain financial information associated with our results of operations for the years ended December 31, 2024, 2023 and 2022 (in thousands, except percentages): Summary of Operations For the years ended December 31,2024 over 20232023 over 2022 202420232022Change% ChangeChange% ChangeDirect Revenues(1):     Environmental Services$5,004,747$4,511,442$4,171,706$493,30510.9%$339,7368.1%Safety-Kleen Sustainability Solutions884,798897,263994,392(12,465)(1.4)(97,129)(9.8)Corporate407447507(40)N/M(60)N/MTotal5,889,9525,409,1525,166,605480,8008.9242,5474.7Cost of Revenues(2):     Environmental Services3,366,0223,063,0432,902,979302,9799.9160,0645.5Safety-Kleen Sustainability Solutions659,217646,301615,30312,9162.030,9985.0Corporate36,13136,78025,648(649)N/M11,132N/MTotal4,061,3703,746,1243,543,930315,2468.4202,1945.7Selling,