Company: CLH
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000822818-25-000019
Chunk: 26

Company: CLEAN HARBORS INC
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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 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 of the date of acquisition. Pro forma revenue and earnings amounts on a combined basis as if this acquisition had been completed on January 1, 2024 are immaterial to the consolidated financial statements of the Company.During 2024, the Company completed the acquisition of three additional privately-owned businesses for $17.1 million in total cash consideration. The operations of the acquired businesses were consolidated into the Environmental Services and SKSS segments. The acquisitions of the acquired businesses were not material in 2024 to the consolidated financial statements