Company: CLH
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000822818-25-000019
Chunk: 96

Company: CLEAN HARBORS INC
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 8
Chunk 96
---
. 

Depreciation and Amortization

Three Months EndedMarch 31,2025 over 2024(in thousands, except percentages)20252024Change% ChangeDepreciation of fixed assets and amortization of landfills and finance leases$98,667 $82,215 $16,452 20.0 %Permits and other intangibles amortization13,313 12,850 463 3.6 Total depreciation and amortization$111,980 $95,065 $16,915 17.8 %

Depreciation and amortization for the three months ended March 31, 2025 increased by $16.9 million from the comparable period in 2024 due to the depreciation of fixed assets and amortization of intangible assets acquired from the March 2024 HEPACO and Noble acquisitions, depreciation for the Kimball incinerator which was placed in service in December 2024 and incremental finance lease amortization.

Interest Expense, Net of Interest Income

Three Months EndedMarch 31,2025 over 2024(in thousands, except percentages)20252024Change% ChangeInterest expense, net of interest income$36,077 $28,539 $7,538 26.4 %

Interest expense, net of interest income for the three months ended March 31, 2025 increased $7.5 million from the comparable period in 2024 primarily due to higher levels of outstanding debt during the period. Interest expense was partially offset by a $2.1 million increase in interest income in the three months ended March 31, 2025 compared to the same period in 2024. 

As of March 31, 2025, the effective interest rate on our debt was 5.3%. For the remainder of 2025, we expect interest expense to remain relatively consistent with the prior year. For additional information regarding our current portfolio of long-term debt, see Note 11, “Financing Arrangements,” to the accompanying unaudited consolidated financial statements. 

26

Provision for Income Taxes

Three Months EndedMarch 31,2025 over 2024(in thousands, except percentages)20252024Change% ChangeProvision for income taxes$15,930$25,963$(10,033)(38.6)%Effective tax rate21.4 %27.1 %(5.7)%

For the three months ended March 31,