Company Quick10K Filing
Quick10K
Clean Harbors
Closing Price ($) Shares Out (MM) Market Cap ($MM)
$69.78 56 $3,900
10-Q 2019-06-30 Quarter: 2019-06-30
10-Q 2019-03-31 Quarter: 2019-03-31
10-K 2018-12-31 Annual: 2018-12-31
10-Q 2018-09-30 Quarter: 2018-09-30
10-Q 2018-06-30 Quarter: 2018-06-30
10-Q 2018-03-31 Quarter: 2018-03-31
10-K 2017-12-31 Annual: 2017-12-31
10-Q 2017-09-30 Quarter: 2017-09-30
10-Q 2017-06-30 Quarter: 2017-06-30
10-Q 2017-03-31 Quarter: 2017-03-31
10-K 2016-12-31 Annual: 2016-12-31
10-Q 2016-09-30 Quarter: 2016-09-30
10-Q 2016-06-30 Quarter: 2016-06-30
10-Q 2016-03-31 Quarter: 2016-03-31
10-K 2015-12-31 Annual: 2015-12-31
10-Q 2015-09-30 Quarter: 2015-09-30
10-Q 2015-06-30 Quarter: 2015-06-30
10-Q 2015-03-31 Quarter: 2015-03-31
10-K 2014-12-31 Annual: 2014-12-31
10-Q 2014-09-30 Quarter: 2014-09-30
10-Q 2014-06-30 Quarter: 2014-06-30
10-Q 2014-03-31 Quarter: 2014-03-31
10-K 2013-12-31 Annual: 2013-12-31
8-K 2019-07-31 Earnings, Exhibits
8-K 2019-07-02 Other Events, Exhibits
8-K 2019-07-02 Enter Agreement, Off-BS Arrangement, Exhibits
8-K 2019-06-18 Regulation FD, Exhibits
8-K 2019-06-18 Enter Agreement, Other Events, Exhibits
8-K 2019-06-05 Officers, Shareholder Vote, Exhibits
8-K 2019-05-03 Code of Ethics
8-K 2019-05-01 Earnings, Exhibits
8-K 2019-02-27 Earnings, Exhibits
8-K 2018-10-31 Earnings, Exhibits
8-K 2018-08-01 Earnings, Exhibits
8-K 2018-07-19 Enter Agreement, Leave Agreement, Off-BS Arrangement, Exhibits
8-K 2018-07-03 Other Events, Exhibits
8-K 2018-06-19 Other Events, Exhibits
8-K 2018-06-06 Shareholder Vote
8-K 2018-04-17 Enter Agreement, Off-BS Arrangement, Exhibits
8-K 2018-01-17 Other Events, Exhibits
GATX GATX 2,740
KAI Kadant 985
OMP Oasis Midstream Partners 688
CSTE Caesarstone 532
MDCA MDC Partners 210
SVBI Severn Bancorp 117
DLHC DLH Holdings 73
STAF Staffing 360 Solutions 14
AASP All American Sportpark 0
MGHL Morgan Group Holding 0
CLH 2019-06-30
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
Part Ii-Other Information
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 3. Defaults Upon Senior Securities
Item 4. Mine Safety Disclosure
Item 5. Other Information
Item 6. Exhibits
EX-31.1 clh-6302019ex311.htm
EX-31.2 clh-6302019ex312.htm
EX-32 clh-6302019ex32.htm

Clean Harbors Earnings 2019-06-30

CLH 10Q Quarterly Report

Balance SheetIncome StatementCash Flow

Document
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Table of Contents

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_______________________
FORM 10-Q
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 
 
 
 
 
 
 
           FOR THE QUARTERLY PERIOD ENDED
JUNE 30, 2019
 
OR
 
 
 
 
 
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE TRANSITION PERIOD FROM         TO       

Commission File Number 001-34223
_______________________
CLEAN HARBORS, INC.
(Exact name of registrant as specified in its charter)
 
Massachusetts
 
04-2997780
(State or Other Jurisdiction of Incorporation or Organization)
 
(IRS Employer Identification No.)
 
42 Longwater Drive
Norwell
MA
 
 
 
02061-9149
 
(Address of Principal Executive Offices)
 
(Zip Code)
Registrant’s Telephone Number, Including area code: (781) 792-5000
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
 
Trading Symbol
 
Name of each exchange on which registered
Common Stock, $0.01 par value
 
CLH
 
New York Stock Exchange
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days. Yes x  No 
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes    No 
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act. (Check one):
Large accelerated filer
 
 
Accelerated filer
Non-accelerated filer
 
 
Smaller reporting company
 
 
 
 
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Indicate by check mark whether the registrant is a shell company (as defined by Rule 12b-2 of the Exchange Act). Yes   No 
The number of shares of Common Stock, $0.01 par value, of the registrant outstanding at July 26, 2019 was 55,862,092



CLEAN HARBORS, INC.

QUARTERLY REPORT ON FORM 10-Q

TABLE OF CONTENTS

 
Page No.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 



Table of Contents



CLEAN HARBORS, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(in thousands)
 
June 30, 2019
 
December 31, 2018
ASSETS
(unaudited)
 
 
Current assets:
 
 
 
Cash and cash equivalents
$
204,455

 
$
226,507

Short-term marketable securities
55,198

 
52,856

Accounts receivable, net of allowances aggregating $36,398 and $44,315, respectively
632,888

 
606,952

Unbilled accounts receivable
52,174

 
54,794

Deferred costs
22,500

 
18,770

Inventories and supplies
203,331

 
199,479

Prepaid expenses and other current assets
42,640

 
42,800

Total current assets
1,213,186

 
1,202,158

Property, plant and equipment, net
1,596,917

 
1,561,978

Other assets:
 
 
 
Operating lease right-of-use assets
173,504

 

Goodwill
525,044

 
514,189

Permits and other intangibles, net
433,853

 
441,875

Other
12,817

 
18,121

Total other assets
1,145,218

 
974,185

Total assets
$
3,955,321

 
$
3,738,321

 
 
 
 
LIABILITIES AND STOCKHOLDERS' EQUITY
 
 
 
Current liabilities:
 
 
 
Current portion of long-term obligations
$
7,535

 
$
7,535

Accounts payable
253,177

 
276,461

Deferred revenue
75,170

 
61,843

Accrued expenses
224,497

 
233,405

Current portion of closure, post-closure and remedial liabilities
30,747

 
23,034

Current portion of operating lease liabilities
42,564

 

Total current liabilities
633,690

 
602,278

Other liabilities:
 
 
 
Closure and post-closure liabilities, less current portion of $13,491 and $9,592, respectively
62,339

 
60,339

Remedial liabilities, less current portion of $17,256 and $13,442, respectively
101,019

 
107,575

Long-term obligations, less current portion
1,562,989

 
1,565,021

Operating lease liabilities, less current portion
130,704

 

Deferred taxes, unrecognized tax benefits and other long-term liabilities
255,113

 
233,352

Total other liabilities
2,112,164

 
1,966,287

Commitments and contingent liabilities (See Note 16)


 


Stockholders’ equity:
 
 
 
Common stock, $.01 par value:
 
 
 
Authorized 80,000,000; shares issued and outstanding 55,859,402 and 55,847,261 shares, respectively
559

 
558

Additional paid-in capital
648,805

 
655,415

Accumulated other comprehensive loss
(214,271
)
 
(223,371
)
Accumulated earnings
774,374

 
737,154

Total stockholders’ equity
1,209,467

 
1,169,756

Total liabilities and stockholders’ equity
$
3,955,321

 
$
3,738,321

The accompanying notes are an integral part of these unaudited consolidated financial statements.

1

Table of Contents


CLEAN HARBORS, INC. AND SUBSIDIARIES

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share amounts)

 
 
Three Months Ended
 
Six Months Ended
 
 
June 30,
 
June 30,
 
 
2019
 
2018
 
2019
 
2018
Revenues:
 
 
 
 
 
 
 
 
Service revenues
 
$
715,085

 
$
696,779

 
$
1,371,743

 
$
1,316,498

Product revenues
 
153,593

 
152,361

 
277,774

 
282,420

Total revenues
 
868,678

 
849,140

 
1,649,517

 
1,598,918

Cost of revenues: (exclusive of items shown separately below)
 
 
 
 
 
 
 
 
Service revenues
 
480,229

 
473,423

 
943,712

 
921,072

Product revenues
 
114,704

 
110,161

 
215,585

 
208,937

Total cost of revenues
 
594,933

 
583,584

 
1,159,297

 
1,130,009

Selling, general and administrative expenses
 
123,920

 
125,995

 
238,732

 
241,083

Accretion of environmental liabilities
 
2,560

 
2,448

 
5,134

 
4,878

Depreciation and amortization
 
74,217

 
72,760

 
149,572

 
147,604

Income from operations
 
73,048


64,353


96,782

 
75,344

Other (expense) income, net
 
(564
)
 
846

 
2,419

 
547

Interest expense, net of interest income of $903, $587, $1,829 and $1,350, respectively
 
(20,215
)
 
(20,769
)
 
(39,979
)
 
(41,039
)
Income before provision for income taxes
 
52,269


44,430


59,222

 
34,852

Provision for income taxes
 
16,025

 
13,683

 
22,002

 
16,736

Net income
 
$
36,244

 
$
30,747

 
$
37,220

 
$
18,116

Earnings per share:
 
 
 
 
 
 
 
 
Basic
 
$
0.65

 
$
0.55

 
$
0.67

 
$
0.32

Diluted
 
$
0.65

 
$
0.54

 
$
0.66

 
$
0.32

Shares used to compute earnings per share - Basic
 
55,875

 
56,410

 
55,861

 
56,304

Shares used to compute earnings per share - Diluted
 
56,066

 
56,505

 
56,001

 
56,399


The accompanying notes are an integral part of these unaudited consolidated financial statements.

2

Table of Contents

CLEAN HARBORS, INC. AND SUBSIDIARIES

UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

(in thousands)
 
 
Three Months Ended
 
Six Months Ended
 
 
June 30,
 
June 30,
 
 
2019
 
2018
 
2019
 
2018
Net income
 
$
36,244

 
$
30,747

 
$
37,220

 
$
18,116

Other comprehensive income (loss):
 
 
 
 
 
 
 
 
Unrealized (losses) gains on available-for-sale securities (net of tax of $27, $8, $58 and $88, respectively)
 
(236
)
 
(11
)
 
(93
)
 
(206
)
Reclassification adjustment for losses on available-for-sale securities included in net income
 
332

 

 
332

 

Unrealized loss on interest rate hedge
 
(9,014
)
 

 
(14,031
)
 

Reclassification adjustment for losses on interest rate hedge included in net income
 
397

 

 
755

 

Foreign currency translation adjustments
 
13,597

 
(4,931
)
 
22,137

 
(21,482
)
Other comprehensive income (loss)
 
5,076

 
(4,942
)
 
9,100

 
(21,688
)
Comprehensive income (loss)
 
$
41,320

 
$
25,805

 
$
46,320

 
$
(3,572
)

The accompanying notes are an integral part of these unaudited consolidated financial statements.


3

Table of Contents

CLEAN HARBORS, INC. AND SUBSIDIARIES

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
 
Six Months Ended
 
June 30,
 
2019
 
2018
Cash flows from operating activities:
 
 
 
Net income
$
37,220

 
$
18,116

Adjustments to reconcile net income to net cash from operating activities:
 
 
 
Depreciation and amortization
149,572

 
147,604

Allowance for doubtful accounts
(2,233
)
 
7,389

Amortization of deferred financing costs and debt discount
2,000

 
1,881

Accretion of environmental liabilities
5,134

 
4,878

Changes in environmental liability estimates
(748
)
 
(673
)
Deferred income taxes
(1,636
)
 
(10
)
Other income, net
(2,419
)
 
(547
)
Stock-based compensation
9,643

 
6,639

Environmental expenditures
(6,134
)
 
(4,585
)
Changes in assets and liabilities, net of acquisitions
 
 
 
Accounts receivable and unbilled accounts receivable
(13,284
)
 
(62,764
)
Inventories and supplies
(4,129
)
 
(18,625
)
Other current and non-current assets
(10,706
)
 
180

Accounts payable
(20,915
)
 
23,605

Other current and long-term liabilities
(2,895
)
 
6,582

Net cash from operating activities
138,470

 
129,670

Cash flows used in investing activities:
 
 
 
Additions to property, plant and equipment
(118,372
)
 
(94,139
)
Proceeds from sale and disposal of fixed assets
7,389

 
2,641

Acquisitions, net of cash acquired
(29,479
)
 
(123,750
)
Additions to intangible assets including costs to obtain or renew permits
(1,923
)
 
(2,106
)
Proceeds from sale of available-for-sale securities
26,518

 
11,214

Purchases of available-for-sale securities
(24,001
)
 
(10,001
)
Net cash used in investing activities
(139,868
)
 
(216,141
)
Cash flows used in financing activities:
 
 
 
Change in uncashed checks
(3,514
)
 
(2,803
)
Tax payments related to withholdings on vested restricted stock
(4,980
)
 
(2,175
)
Repurchases of common stock
(11,272
)
 
(26,482
)
Deferred financing costs paid

 
(468
)
Payments on finance lease
(259
)
 

Principal payments on debt
(3,768
)
 
(2,000
)
Net cash used in financing activities
(23,793
)
 
(33,928
)
Effect of exchange rate change on cash
3,139

 
(1,932
)
Decrease in cash and cash equivalents
(22,052
)
 
(122,331
)
Cash and cash equivalents, beginning of period
226,507

 
319,399

Cash and cash equivalents, end of period
$
204,455

 
$
197,068

Supplemental information:
 
 
 
Cash payments for interest and income taxes:
 
 
 
Interest paid
$
39,369

 
$
40,745

Income taxes paid
12,697

 
14,118

Cash paid for amounts included in the measurement of lease liabilities:
 
 
 
Operating cash flows from operating leases
27,773

 

Operating cash flows from finance lease
612

 

Financing cash flows from finance lease
259

 

Non-cash investing activities:
 
 
 
Property, plant and equipment accrued
14,103

 
13,041

ROU assets obtained in exchange for new operating lease liabilities
5,575

 

ROU asset obtained in exchange for new finance lease liability
23,027

 

The accompanying notes are an integral part of these unaudited consolidated financial statements.

4


CLEAN HARBORS, INC. AND SUBSIDIARIES

UNAUDITED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

(in thousands)

 
Common Stock
 
 
 
Accumulated
Other
Comprehensive Loss
 
 
 
 
 
Number
of
Shares
 
$ 0.01
Par
Value
 
Additional
Paid-in
Capital
 
 
Accumulated
Earnings
 
Total
Stockholders’
Equity
Balance at January 1, 2019
55,847

 
$
558

 
$
655,415

 
$
(223,371
)
 
$
737,154

 
$
1,169,756

Net income

 

 

 

 
976

 
976

Other comprehensive income

 

 

 
4,024

 

 
4,024

Stock-based compensation

 

 
5,809

 

 

 
5,809

Issuance of restricted shares, net of shares remitted and tax withholdings
78

 
1

 
(2,277
)
 

 

 
(2,276
)
Repurchases of common stock
(97
)
 
(1
)
 
(6,323
)
 

 

 
(6,324
)
Balance at March 31, 2019
55,828


558


652,624


(219,347
)

738,130

 
1,171,965

Net income

 

 

 

 
36,244

 
36,244

Other comprehensive income

 

 

 
5,076

 

 
5,076

Stock-based compensation

 

 
3,834

 

 

 
3,834

Issuance of restricted shares, net of shares remitted and tax withholdings
105

 
1

 
(2,705
)
 

 

 
(2,704
)
Repurchases of common stock
(74
)
 

 
(4,948
)
 

 

 
(4,948
)
Balance at June 30, 2019
55,859


$
559


$
648,805


$
(214,271
)

$
774,374

 
$
1,209,467


 
Common Stock
 
 
 
Accumulated
Other
Comprehensive Loss
 
 
 
 
 
Number
of
Shares
 
$ 0.01
Par
Value
 
Additional
Paid-in
Capital
 
 
Accumulated
Earnings
 
Total
Stockholders’
Equity
Balance at January 1, 2018
56,501

 
$
565

 
$
686,962

 
$
(172,407
)
 
$
673,082

 
$
1,188,202

Cumulative effect of change in accounting principle

 

 

 

 
(1,564
)
 
(1,564
)
Net loss

 

 

 

 
(12,631
)
 
(12,631
)
Other comprehensive loss

 

 

 
(16,746
)
 

 
(16,746
)
Stock-based compensation

 

 
3,077

 

 

 
3,077

Issuance of restricted shares, net of shares remitted and tax withholdings
24

 

 
(548
)
 

 

 
(548
)
Repurchases of common stock
(280
)
 
(3
)
 
(14,261
)
 

 

 
(14,264
)
Balance at March 31, 2018
56,245


562


675,230


(189,153
)

658,887

 
1,145,526

Net income

 

 

 

 
30,747

 
30,747

Other comprehensive loss

 

 

 
(4,942
)
 

 
(4,942
)
Stock-based compensation

 

 
3,562

 

 

 
3,562

Issuance of restricted shares, net of shares remitted and tax withholdings
94

 
1

 
(1,628
)
 

 

 
(1,627
)
Repurchases of common stock
(252
)
 
(2
)
 
(12,216
)
 

 

 
(12,218
)
Balance at June 30, 2018
56,087


$
561


$
664,948


$
(194,095
)

$
689,634

 
$
1,161,048


The accompanying notes are an integral part of these unaudited consolidated financial statements.

5

Table of Contents

CLEAN HARBORS, INC. AND SUBSIDIARIES

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

(1) BASIS OF PRESENTATION

The accompanying consolidated interim financial statements are unaudited and include the accounts of Clean Harbors, Inc. and its subsidiaries (collectively, “Clean Harbors,” the “Company” or "we") and have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) and, in the opinion of management, include all adjustments which are of a normal recurring nature, necessary for a fair presentation of the financial position, results of operations and cash flows for the periods presented. Management has made estimates and assumptions affecting the amounts reported in the Company's consolidated interim financial statements and accompanying footnotes, actual results could differ from those estimates and judgments. The results for interim periods are not necessarily indicative of results for the entire year or any other interim periods. The financial statements presented herein should be read in connection with the financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018.
(2) SIGNIFICANT ACCOUNTING POLICIES
The Company's significant accounting policies are described in Note 2, "Significant Accounting Policies," and Note 3, "Revenues," in the Company's Annual Report on Form 10-K for the year ended December 31, 2018. There have been no material changes in these policies or their application except for the changes described below.
Recent Accounting Pronouncements
Standards implemented
In February 2016, the Financial Accounting Standards Board ("FASB") issued ASU 2016-02, Leases (Topic 842). The amendment increases transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The Company adopted Topic 842 on January 1, 2019 using the modified retrospective method of adoption. Prior period amounts have not been adjusted and continue to be reported in accordance with the Company's historical accounting methodology pursuant to ASC 840, Leases. As permitted under the transition guidance, the Company elected to apply the package of three practical expedients for all existing leases which, among other things, allowed us to maintain the lease classification for all existing leases at the adoption date. The adoption of Topic 842 resulted in the recognition of right-of-use (“ROU”) assets of $185.5 million and total current and noncurrent lease liabilities of $188.5 million at adoption. Additionally, Topic 842 required new and expanded disclosures to enable users of financial statements to assess the amount, timing and uncertainty of cash flows arising from leases. The standard did not have a material impact on the consolidated statements of operations or cash flows.
Leases
The Company’s leases predominately relate to real estate and equipment such as vehicles and industrial equipment utilized in operations as well as rail cars utilized in connection with the Company’s transportation needs. Contracts are reviewed at inception to determine if the arrangement is a lease and, if so, whether it is an operating or finance lease. For all of its leases, the Company has elected not to separate lease and nonlease components, such as common area maintenance.
The Company generally enters into real estate leases with five to ten-year terms and non-real estate leases with two to seven-year terms. In the normal course of business, the Company also enters into short-term leases having terms of less than one-year. These leases are generally equipment leases entered into for short periods of time (e.g. daily, weekly or monthly), and done so to satisfy immediate and/or short-term operational needs of the business which can arise based upon the nature of particular services performed or seasonality factors. The Company has elected not to recognize ROU assets and lease liabilities for these short-term leases. Expense for all such short-term leases is disclosed as short-term lease cost as shown in Note 17, "Leases."
Operating and finance leases with terms exceeding one year are recognized as ROU assets and lease liabilities and measured based on the present value of the future lease payments over the lease term at commencement date. When applicable, the ROU asset includes any lease payments made at or before the commencement date and initial direct costs incurred and is reduced by lease incentives received under the lease agreement, if any.
Certain of the Company's real estate leases contain escalating future lease payments. Escalating lease payments that are based upon explicit amounts contained in the lease or an index (e.g., consumer price index) are included in its determination of future lease payments to determine the ROU asset and lease liability recognized at the commencement date. Any differences in the future lease

6

Table of Contents

payments from initial recognition are not anticipated to be material and will be recorded as variable lease cost in the period incurred.  The variable lease cost will also include the Company’s portion of property tax, utilities and common area maintenance. A significant portion of the Company’s real estate lease agreements include renewal periods at the Company’s option. The Company includes these renewal periods in the lease term only when renewal is reasonably certain based upon facts and circumstances specific to the lease and known by the Company. The Company uses its incremental borrowing rate on collateralized debt based on the information available at the lease commencement date in determining the present value of future lease payments as the implicit rate is typically not readily determinable.
(3) REVENUES
Revenue Recognition
The Company generates services and product revenues through the following operating segments: Environmental Services and Safety-Kleen. The Company recognizes revenue when control of the promised goods or services is transferred to the Company's customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. Product revenues are recognized when the products are delivered and control transfers to the customer.
Nature of Goods and Services
The majority of the Company’s contracts are for services, which are recognized based on time and materials incurred at contractually agreed-upon rates. The Company’s payment terms vary by the type and location of its customers and the products or services offered. The periods between invoicing and when payments are due are not significant. Any amounts billed to customers related to shipping and handling are classified as revenue and the Company's shipping and handling costs are included in costs of revenues. In the course of the Company's operations, it collects sales tax and other excise taxes from its customers and recognizes a current liability which is then relieved when the taxes are remitted to the appropriate governmental authorities. The Company excludes sales and other excise taxes that it collects from customers from its revenues.
Disaggregation of Revenue
The following table presents the Company’s third-party revenues disaggregated by revenue source (in thousands):
 
 
For the Three Months Ended June 30, 2019
 
 
Environmental Services
 
Safety-Kleen
 
Corporate
 
Total
Primary Geographical Markets
 
 
 
 
 
 
 
 
United States
 
$
431,749

 
$
316,688

 
$
202

 
$
748,639

Canada
 
94,545

 
25,494

 

 
120,039

Total third-party revenues
 
$
526,294

 
$
342,182

 
$
202

 
$
868,678

 
 
 
 
 
 
 
 
 
Sources of Revenue (1)
 
 
 
 
 
 
 
 
Technical Services
 
$
275,908

 
$

 
$

 
$
275,908

Field and Emergency Response Services
 
86,722

 

 

 
86,722

Industrial Services
 
136,011

 

 

 
136,011

Oil, Gas and Lodging Services and Other
 
27,653

 

 
202

 
27,855

Safety-Kleen Environmental Services
 

 
216,434

 

 
216,434

Safety-Kleen Oil (2)
 

 
125,748

 

 
125,748

Total third-party revenues
 
$
526,294

 
$
342,182

 
$
202

 
$
868,678


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Table of Contents

 
 
For the Three Months Ended June 30, 2018
 
 
Environmental Services
 
Safety-Kleen
 
Corporate
 
Total
Primary Geographical Markets
 
 
 
 
 
 
 
 
United States
 
$
408,127

 
$
306,059

 
$
363

 
$
714,549

Canada
 
111,789

 
22,656

 
146

 
134,591

Total third-party revenues
 
$
519,916

 
$
328,715

 
$
509

 
$
849,140

 
 
 
 
 
 
 
 
 
Sources of Revenue (1)
 
 
 
 
 
 
 
 
Technical Services
 
$
257,006

 
$

 
$

 
$
257,006

Field and Emergency Response Services
 
76,092

 

 

 
76,092

Industrial Services
 
161,046

 

 

 
161,046

Oil, Gas and Lodging Services and Other
 
25,772

 

 
509

 
26,281

Safety-Kleen Environmental Services
 

 
200,034

 

 
200,034

Safety-Kleen Oil (2)
 

 
128,681

 

 
128,681

Total third-party revenues
 
$
519,916

 
$
328,715

 
$
509

 
$
849,140

 
 
For the Six Months Ended June 30, 2019
 
 
Environmental Services
 
Safety-Kleen
 
Corporate
 
Total
Primary Geographical Markets
 
 
 
 
 
 
 
 
United States
 
$
819,918

 
$
603,262

 
$
796

 
$
1,423,976

Canada
 
180,074

 
45,467

 

 
225,541

Total third-party revenues
 
$
999,992

 
$
648,729

 
$
796

 
$
1,649,517

 
 
 
 
 
 
 
 
 
Sources of Revenue (1)
 
 
 
 
 
 
 
 
Technical Services
 
$
527,827

 
$

 
$

 
$
527,827

Field and Emergency Response Services
 
158,348

 

 

 
158,348

Industrial Services
 
252,109

 

 

 
252,109

Oil, Gas and Lodging Services and Other
 
61,708

 

 
796

 
62,504

Safety-Kleen Environmental Services
 

 
423,517

 

 
423,517

Safety-Kleen Oil (2)
 

 
225,212

 

 
225,212

Total third-party revenues
 
$
999,992

 
$
648,729

 
$
796

 
$
1,649,517

 
 
For the Six Months Ended June 30, 2018
 
 
Environmental Services
 
Safety-Kleen
 
Corporate
 
Total
Primary Geographical Markets
 
 
 
 
 
 
 
 
United States
 
$
752,099

 
$
593,701

 
$
508

 
$
1,346,308

Canada
 
207,505

 
44,932

 
173

 
252,610

Total third-party revenues
 
$
959,604

 
$
638,633

 
$
681

 
$
1,598,918

 
 
 
 
 
 
 
 
 
Sources of Revenue (1)
 
 
 
 
 
 
 
 
Technical Services
 
$
493,312

 
$

 
$

 
$
493,312

Field and Emergency Response Services
 
146,027

 

 

 
146,027

Industrial Services
 
264,809

 

 

 
264,809

Oil, Gas and Lodging Services and Other
 
55,456

 

 
681

 
56,137

Safety-Kleen Environmental Services
 

 
394,195

 

 
394,195

Safety-Kleen Oil (2)