Company: CLH
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000822818-25-000019
Chunk: 100

Company: CLEAN HARBORS INC
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 8
Chunk 100
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 Stock Repurchases Pursuant to Publicly Announced Plan

The Company’s common stock repurchases are made pursuant to the board-approved plan to repurchase up to $1.1 billion of the Company’s common stock. During the three months ended March 31, 2025 and March 31, 2024, the Company repurchased and retired 256,473 and 27,265 shares, respectively, of the Company’s common stock for total expenditures of $55.0 million and $5.0 million, respectively.

Through March 31, 2025, the Company has repurchased and retired a total of approximately 9.0 million shares of its common stock for $655.9 million under the board-approved plan, and, as of March 31, 2025, an additional $444.1 million remained available for repurchase of shares.

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Environmental Liabilities

(in thousands, except percentages)March 31, 2025December 31, 2024Change% ChangeClosure and post-closure liabilities$134,169 $129,788 $4,381 3.4 %Remedial liabilities99,875 111,745 (11,870)(10.6)Total environmental liabilities$234,044 $241,533 $(7,489)(3.1)%

Total environmental liabilities as of March 31, 2025 were $234.0 million, a decrease of $7.5 million compared to December 31, 2024. During the three months ended March 31, 2025, the environmental liability balance decreased due to changes in environmental liability estimates of $9.8 million and expenditures of $2.6 million. These decreases were partially offset by accretion of $3.6 million and new environmental liabilities, including those recognized as a result of recent acquisitions, of $1.2 million. The change in environmental liability estimates was primarily driven by a $10 million decrease in the remedial liability for a site based on our conclusion that loss was no longer probable based on recent evaluation of available evidence.

We anticipate our environmental liabilities, substantially all of which we assumed in connection with our acquisitions, will be payable over many years and that cash flow from operations will generally be sufficient to fund the payment of such liabilities when required.

Events not anticipated (such as future changes in environmental laws and regulations) could require that payments to satisfy our environmental liabilities be made earlier or in greater amounts than currently anticipated,