CLEAN HARBORS, INC. (NYSE:CLH) Files An 8-K Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure
in which it manages its business, makes operating decisions and
assesses its performance. These changes included combining the
Safety-Kleen Environmental Services business and Kleen Performance
Products business into a single operating segment called
“Safety-Kleen,” moving the Production Services business,
previously included in the Company’s Oil and Gas Field Services
operating segment, into the Company’s Industrial Services
operating segment, and reassigning certain departments among the
Company’s operating segments in line with management reporting
changes. In addition, for purposes of segment disclosure, the
Company combined the Oil and Gas Field Services and Lodging
Services operating segments under the heading “Oil, Gas and
Lodging Services,” as those individual operating segments do not
meet the quantitative thresholds for separate disclosure.
businesses for growth and efficiency. The amounts presented for all
historical periods herein have been recast to reflect the impact of
such changes. The Company’s operations are now managed in
six>operating segments: Technical Services, Industrial Services,
Field Services, Safety-Kleen, Oil and Gas Field Services and
Lodging Services. For purposes of segment disclosure the Industrial
Services and Field Services operating segments have been aggregated
into a single reportable segment based upon their similar economic
and other characteristics, and the Oil and Gas Field Services and
Lodging Services operating segments have been combined as they do
not meet the quantitative thresholds for separate presentation.
particular segment. Direct revenue is revenue allocated to the
segment providing the product or service. The difference between
the two is considered intersegment revenues and represent the
sharing of third-party revenues among the segments based on
products and services provided by each segment as if the products
and services were sold directly to the third-party. The operations
not managed through the Companys operating segments described above
are recorded as Corporate Items. Corporate Items revenues consist
of two>different operations for which the revenues are
insignificant. Corporate Items cost of revenues represents certain
central services that are not allocated to the Company’s operating
segments for internal reporting purposes. Corporate Items selling,
general and administrative expenses include typical corporate items
such as legal, accounting and other items of a general corporate
nature that are not allocated to the Companys operating segments.
performance of its segments is Adjusted EBITDA which consists of
net (loss) income plus accretion of environmental liabilities,
depreciation and amortization, net interest expense, (benefit)
provision for income taxes, other gains or non-cash charges
(including gain on sale of business and goodwill impairment
charges) not deemed representative of fundamental segment results
and excludes other expense (income), net. Transactions between the
segments are accounted for at the Companys best estimate based on
similar transactions with outside customers.
recast summary of the Companys historical reportable segment level
operating results for the full year 2016 and 2015 by quarter. The
information contained in this report and attached Exhibit 99.1 is
being furnished to Regulation FD in order to provide the financial
community with summary financial information and historical data
that is on a basis consistent with how we report current financial
information.
attached Exhibit 99.1 does not represent a restatement of
previously-issued financial statements and does not affect our
reported net (loss) income, (loss) earnings per share, total
assets, or stockholders equity for any of the previously reported
periods.
99.1, shall not be deemed filed for any purpose, nor shall it be
deemed incorporated by reference in any filing under the Securities
Act of 1933, as amended, or the Securities Exchange Act of 1934, as
amended, regardless of any general incorporation language in any
such filing. This report shall not be deemed an admission as to the
materiality of any information in this report and attached Exhibit
99.1 that is provided in connection with Regulation FD.
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Exhibit No.
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Description
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99.1
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Full Year 2016 and 2015 Unaudited Segment Information by
Quarter |
About CLEAN HARBORS, INC. (NYSE:CLH)
Clean Harbors, Inc. is a provider of environmental, energy and industrial services. The Company operates in six segments: Technical Services; Industrial and Field Services; Kleen Performance Products; SK Environmental Services; Lodging Services, and Oil and Gas Field Services. Its Technical Services segment involves the collection, transportation, treatment and disposal of hazardous and non-hazardous wastes. Its Industrial services segment offers industrial maintenance services and industrial services. Its Kleen Performance Products segment processes used oil to convert into a range of products. SK Environmental Services segment offers environmental services and complementary products. Lodging Services consists of four lines of businesses: Lodge Operations, Mobile Camp Operations, Hospitality Operations and Manufacturing. Oil and Gas Field Services segment provides fluid handling, fluid hauling, production servicing, surface rentals, seismic services and directional boring services. CLEAN HARBORS, INC. (NYSE:CLH) Recent Trading Information
CLEAN HARBORS, INC. (NYSE:CLH) closed its last trading session down -1.73 at 54.80 with 390,408 shares trading hands.
