Ratio of Earnings to Fixed Charges
CLEAN HARBORS, INC. AND SUBSIDIARIES
| |
For the Three Months Ended March 31, |
For the Year Ended December 31, | ||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| |
2016 | 2015 | 2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||||||
Income from operations before income taxes(1) |
$ | (4,087 | ) | $ | 7,302 | $ | 109,646 | $ | 38,522 | $ | 143,885 | $ | 127,730 | $ | 184,678 | |||||||
Add (Subtract): |
||||||||||||||||||||||
Capitalized interest |
(1,198 | ) | (161 | ) | (1,958 | ) | (1,610 | ) | (929 | ) | (155 | ) | (451 | ) | ||||||||
Amortization of capitalized interest |
341 | 263 | 1,165 | 942 | 783 | 715 | 678 | |||||||||||||||
Fixed charges (see calculation below) |
22,303 | 21,907 | 87,654 | 89,982 | 88,570 | 54,976 | 46,260 | |||||||||||||||
| | | | | | | | | | | | | | | | | | | | | | | |
Income from operations before income taxes as adjusted |
$ | 17,359 | $ | 29,311 | $ | 196,507 | $ | 127,836 | $ | 232,309 | $ | 183,267 | $ | 231,165 | ||||||||
Fixed charges: |
||||||||||||||||||||||
Interest expense, net |
$ | 18,980 | $ | 19,438 | $ | 76,553 | $ | 77,668 | $ | 78,376 | $ | 47,287 | $ | 39,389 | ||||||||
Interest income |
150 | 151 | 626 | 819 | 507 | 846 | 798 | |||||||||||||||
Capitalized interest |
1,198 | 161 | 1,958 | 1,610 | 929 | 155 | 451 | |||||||||||||||
Amortization of capitalized interest |
(341 | ) | (263 | ) | (1,165 | ) | (942 | ) | (783 | ) | (715 | ) | (678 | ) | ||||||||
Preferred stock dividend |
— | — | — | — | — | — | — | |||||||||||||||
Portion of operating lease rental expenses deemed to be representative of the interest factor |
2,317 | 2,421 | 9,682 | 110,827 | 9,541 | 7,404 | 6,300 | |||||||||||||||
| | | | | | | | | | | | | | | | | | | | | | | |
Fixed charges |
$ | 22,303 | $ | 21,907 | $ | 87,654 | $ | 89,982 | $ | 88,570 | $ | 54,977 | $ | 46,260 | ||||||||
Ratio of earnings to fixed charges |
0.8x | 1.3x | 2.2x | 1.4x | 2.6x | 3.3x | 5.0x | |||||||||||||||