Company: CLH
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000822818-25-000030
Chunk: 142

Company: CLEAN HARBORS INC
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 2
Chunk 142
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, as of June 30, 2025, approximately $452.1 million was available to borrow under the facility, with letters of credit of $147.9 million outstanding.

Material Capital Requirements

Capital Expenditures

Capital expenditures during the first six months of 2025 were $208.7 million as compared to $273.0 million during the first six months of 2024. Notable project spend in 2024 included investments of $40.4 million in our Kimball incinerator facility and $15.4 million in our Baltimore, Maryland facility. In 2025, notable project spend includes $12.4 million spent for the purchase of a building for our Phoenix hub project. The remaining decrease in capital expenditures in the six months ended June 30, 2025 as compared to June 30, 2024 is due to the timing of expenditures. Overall, we expect that 2025 capital spending, net of disposals, will be in the range of $360.0 million to $390.0 million including the long-term growth investment of approximately $15 million for the Phoenix hub.

We anticipate that the remaining 2025 capital spending will be funded by cash from our operations. Unanticipated changes in environmental regulations could require us to make significant capital expenditures for our facilities and adversely affect our results of operations and cash flow.

Financing Arrangements

As of June 30, 2025, our financing arrangements include (i) $545.0 million of 4.875% senior unsecured notes due 2027, (ii) $1.5 billion of senior secured term loans due 2028, (iii) $300.0 million of 5.125% senior unsecured notes due 2029 and (iv) $500.0 million of 6.375% senior unsecured notes due 2031. As noted above, we also maintain our $600.0 million revolving credit facility with no amounts owed as of June 30, 2025.

The material terms of these arrangements are discussed further in Note 11, “Financing Arrangements,” to the accompanying unaudited consolidated financial statements.

As of June 30, 2025, we were in compliance with the covenants of all of our debt agreements, and we believe we will continue to meet such covenants.

Common Stock Repurchases Pursuant to Publicly Announced Plan

The Company’s board of directors approved a plan to repurchase up to $