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Ratio of Earnings to Fixed Charges
CLEAN HARBORS, INC. AND SUBSIDIARIES
| For the Nine Months Ended September 30, | For the Year Ended December 31, | ||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2012 | 2011 | 2011 | 2010 | 2009 | 2008 | 2007 | |||||||||||||||
| (In thousands) | |||||||||||||||||||||
Income from operations before income taxes | $ | 105,287 | $ | 136,302 | $ | 184,678 | $ | 184,477 | $ | 61,472 | $ | 93,977 | 72,238 | |||||||||
Add (Subtract): | ||||||||||||||||||||||
Capitalized interest | (111 | ) | (310 | ) | (122 | ) | (541 | ) | (236 | ) | (157 | ) | (1,179 | ) | ||||||||
Amortization of capitalized interest | 357 | 361 | 657 | 616 | 567 | 542 | 435 | |||||||||||||||
Fixed charges (see calculation below) | 40,584 | 33,351 | 45,951 | 35,620 | 23,511 | 18,736 | 22,771 | |||||||||||||||
Income from operations before income taxes as adjusted | $ | 146,117 | $ | 169,704 | $ | 231,165 | $ | 220,172 | $ | 85,314 | $ | 113,098 | $ | 94,265 | ||||||||
Fixed charges: | ||||||||||||||||||||||
Interest expense, net | $ | 33,836 | $ | 28,047 | $ | 39,389 | $ | 27,936 | $ | 15,999 | $ | 8,403 | $ | 13,157 | ||||||||
Interest income | 623 | 700 | 798 | 874 | 825 | 5,094 | 4,023 | |||||||||||||||
Capitalized interest | 111 | 310 | 122 | 541 | 236 | 157 | 1,179 | |||||||||||||||
Amortization of capitalized interest | (357 | ) | (361 | ) | (657 | ) | (616 | ) | (567 | ) | (542 | ) | (435 | ) | ||||||||
Preferred stock dividend | — | — | — | — | — | — | 206 | |||||||||||||||
Portion of operating lease rental expenses deemed to be representative of the interest factor | 6,371 | 4,655 | 6,300 | 6,885 | 7,018 | 5,624 | 4,641 | |||||||||||||||
Fixed charges | $ | 40,584 | $ | 33,351 | $ | 45,951 | $ | 35,620 | $ | 23,511 | $ | 18,736 | $ | 22,771 | ||||||||
Ratio of earnings to fixed charges | 3.6x | 5.1x | 5.0x | 6.2x | 3.6x | 6.0x | 4.1x |
Ratio of Earnings to Fixed Charges CLEAN HARBORS, INC. AND SUBSIDIARIES