Company: CLH
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000822818-25-000019
Chunk: 69

Company: CLEAN HARBORS INC
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 8
Chunk 69
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SS 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. 

9

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 and 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 Date As Reported March 31, 2025Accounts 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 — 14,500 Operating lease right-of-use assets3,615 — 3,615 Other long-term assets92 — 92 Accounts payable(7,752)— (7,752)Accrued expenses and other current liabilities(1,145)17 (1,128)Current portion of operating lease liabilities(1,823)— (1,823)Operating lease liabilities, less current portion(1,792)— (1,792)Closure and post-closure liabilities(8,929)(35)(8,964)Remedial liabilities(2,757)90 (2,667)Total identifiable net assets62,485 99 62,584 Goodwill6,257 (99)6,158 Total purchase price$68,742 $— $68,742 Other intangible assets acquired include customer relationships and trademarks/tradenames and are anticipated to have estimated useful lives of between seven and 15 years with a weighted average useful life of approximately 13 years. 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, was recorded as goodwill. The goodwill recognized is attributable to the operating synergies and assembled workforce that the Company expects to realize from the acquisition. Goodwill generated from the acquisition is deductible for tax purposes.The operations of Noble are included in the Company’s financial statements as