Company: CLH
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0000822818-25-000040
Chunk: 124

Company: CLEAN HARBORS INC
Filing Date: 2025-10-29
Form: 10-Q
Item: Part I, Item 8
Chunk 124
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 of 2024. Notable project spend in 2024 included investments of $63.3 million in our Kimball incinerator facility and $15.8 million in our Baltimore, Maryland facility. In 2025, notable project spend includes $11.8 million spent on the SDA and $12.5 million spent for the purchase of a building for our Phoenix Hub. The remaining decrease in capital expenditures in the nine months ended September 30, 2025 as compared to September 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 $385.0 million to $415.0 million including the long-term growth investment of approximately $30 million for the SDA and $15 million for the Phoenix Hub. The total anticipated spending on the SDA project is expected to be in the range of $210.0 to $220.0 million and we expect that the project will be completed in 2028.

We anticipate that the remaining 2025 capital spending and future spending on the SDA 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

Financing arrangements are discussed in Note 11, “Financing Arrangements,” to our unaudited consolidated financial statements included in this report. As discussed therein, we refinanced a portion of our debt portfolio in October 2025 whereby we issued $745.0 million aggregate principal amount of 5.750% unsecured senior notes due 2033 and we entered into secured senior term loans with an aggregate principal amount equal to $1,260.0 million, due in 2032. The proceeds of these transactions, together with cash on hand, were used to refinance all existing $1.5 billion secured senior term loans due in 2028 on October 9, 2025, and will be used to redeem all of the $545.0 million aggregate principal amount of outstanding 2027 Notes on October 31, 2025. On October 1, 2025, we issued a redemption notice with a 30 day notice period, as required pursuant to the indenture governing the 2027 Notes, indicating our intent to redeem these notes in full on October 31, 2025. The only amounts due under these new financing arrangements