Company: CLH
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000822818-25-000030
Chunk: 77

Company: CLEAN HARBORS INC
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 8
Chunk 77
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Safety-Kleen Oil— 307,157 — 307,157 Total third-party revenues$2,537,097 $444,521 $186 $2,981,804 Six Months Ended June 30, 2024Environmental ServicesSafety-Kleen Sustainability SolutionsCorporateTotalPrimary Geographical MarketsUnited States$2,228,786 $426,701 $201 $2,655,688 Canada229,791 43,935 — 273,726 Total third-party revenues$2,458,577 $470,636 $201 $2,929,414 Sources of RevenueTechnical Services$851,159 $— $— $851,159 Industrial Services and Other718,868 — 201 719,069 Field and Emergency Response Services416,362 — — 416,362 Safety-Kleen Environmental Services472,188 111,442 — 583,630 Safety-Kleen Oil— 359,194 — 359,194 Total third-party revenues$2,458,577 $470,636 $201 $2,929,414 

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Table of Contents

Contract Balances(in thousands)June 30, 2025December 31, 2024Receivables$1,117,714 $1,015,357 Contract assets (unbilled receivables)177,910 162,215 Contract liabilities (deferred revenue)87,792 88,545 The timing of revenue recognition, billings and cash collections results in billed accounts receivable, unbilled receivables (contract assets) and customer advances and deposits or deferred revenue (contract liabilities) on the consolidated balance sheet. Generally, billing occurs subsequent to revenue recognition, as a right to payment is not just subject to passage of time, resulting in contract assets, which are generally classified as current. The Company sometimes receives advances or deposits from its customers before revenue is recognized, resulting in contract liabilities. These assets and liabilities are reported on the consolidated balance sheet on a contract-by-contract basis at the end of each reporting period. The contract liability balances at the beginning of each period presented are generally fully recognized in the subsequent three-month period.

(4) BUSINESS COMBINATIONS

2024 AcquisitionsOn March 22, 2024, the Company acquired HEPACO for an all-cash purchase price of $392.