US Ecology 10-Q 1 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Jul. 27, 2016
Document and Entity Information
Entity Registrant Name	US ECOLOGY, INC.
Entity Central Index Key	742,126
Document Type	10-Q
Document Period End Date	Jun. 30, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Trading Symbol	ECOL
Entity Common Stock, Shares Outstanding		21,773,650

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Current Assets:
Cash and cash equivalents	$ 12,789	$ 5,989
Receivables, net	100,567	106,380
Prepaid expenses and other current assets	7,388	8,484
Income taxes receivable	3,510	2,017
Total current assets	124,254	122,870
Property and equipment, net	215,484	210,334
Restricted cash and investments	5,818	5,748
Intangible assets, net	237,501	239,571
Goodwill	193,835	191,823
Other assets	1,360	1,641
Total assets	778,252	771,987
Current Liabilities:
Accounts payable	14,467	17,169
Deferred revenue	6,928	8,078
Accrued liabilities	26,082	25,634
Accrued salaries and benefits	12,417	11,513
Income taxes payable	166	117
Current portion of closure and post-closure obligations	2,680	2,787
Revolving credit facility	3,966
Current portion of long-term debt	2,954	3,056
Total current liabilities	69,660	68,354
Long-term closure and post-closure obligations	69,755	68,367
Long-term debt	280,133	290,684
Other long-term liabilities	10,382	5,825
Deferred income taxes	81,181	82,622
Total liabilities	511,111	515,852
Commitments and contingencies
Stockholders' Equity:
Common stock $0.01 par value, 50,000 authorized; 21,774 and 21,744 shares issued, respectively	218	217
Additional paid-in capital	171,230	169,873
Retained earnings	111,920	103,300
Treasury stock, at cost, 0 and 5 shares, respectively	(5)	(189)
Accumulated other comprehensive loss	(16,222)	(17,066)
Total stockholders' equity	267,141	256,135
Total liabilities and stockholders' equity	$ 778,252	$ 771,987

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares shares in Thousands	Jun. 30, 2016	Dec. 31, 2015
CONSOLIDATED BALANCE SHEETS
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	50,000	50,000
Common stock, shares issued	21,774	21,744
Treasury stock, shares	0	5

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
CONSOLIDATED STATEMENTS OF OPERATIONS
Revenue	$ 122,351	$ 139,732	$ 235,669	$ 276,383
Direct operating costs	85,445	98,262	163,555	195,069
Gross profit	36,906	41,470	72,114	81,314
Selling, general and administrative expenses	19,819	22,675	39,244	47,568
Impairment charges		6,700		6,700
Operating income	17,087	12,095	32,870	27,046
Other income (expense):
Interest income	33	6	82	47
Interest expense	(4,303)	(5,433)	(8,862)	(11,127)
Foreign currency gain (loss)	(343)	292	416	(775)
Other	2,330	233	2,499	769
Total other expense	(2,283)	(4,902)	(5,865)	(11,086)
Income before income taxes	14,804	7,193	27,005	15,960
Income tax expense	5,866	5,055	10,550	7,957
Net income	$ 8,938	$ 2,138	$ 16,455	$ 8,003
Earnings per share:
Basic (in dollars per share)	$ 0.41	$ 0.10	$ 0.76	$ 0.37
Diluted (in dollars per share)	$ 0.41	$ 0.10	$ 0.76	$ 0.37
Shares used in earnings per share calculation:
Basic (in shares)	21,700	21,617	21,692	21,600
Diluted (in shares)	21,790	21,748	21,768	21,719
Dividends paid per share (in dollars per share)	$ 0.18	$ 0.18	$ 0.36	$ 0.36

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income	$ 8,938	$ 2,138	$ 16,455	$ 8,003
Other comprehensive income (loss):
Foreign currency translation gain (loss)	36	1,003	3,289	(3,171)
Net changes in interest rate hedge, net of taxes of ($297), $663, ($1,316) and ($91), respectively	(551)	1,231	(2,445)	(169)
Comprehensive income, net of tax	$ 8,423	$ 4,372	$ 17,299	$ 4,663

CONSOLIDATED STATEMENTS OF COM6

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Other comprehensive income (loss):
Net changes in interest rate hedge, tax	$ (297)	$ 663	$ (1,316)	$ (91)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash flows from operating activities:
Net income	$ 16,455	$ 8,003
Adjustments to reconcile net income to net cash provided by operating activities:
Impairment charges		6,700
Depreciation and amortization of property and equipment	12,106	15,135
Amortization of intangible assets	5,256	6,606
Accretion of closure and post-closure obligations	2,049	2,077
Gain on disposition of business	(2,208)
Unrealized foreign currency (gain) loss	(685)	1,510
Deferred income taxes	(1,340)	(3,096)
Share-based compensation expense	1,578	1,089
Net loss on disposal of property and equipment	22	908
Amortization of debt issuance costs	1,065	1,001
Amortization of debt discount	74	74
Changes in assets and liabilities:
Receivables	6,613	16,952
Income taxes receivable	(1,439)	6,328
Other assets	1,272	2,373
Accounts payable and accrued liabilities	(872)	(6,241)
Deferred revenue	(1,220)	(6,089)
Accrued salaries and benefits	787	(1,651)
Income taxes payable	49	839
Closure and post-closure obligations	(848)	(2,136)
Net cash provided by operating activities	38,714	50,382
Cash flows from investing activities:
Purchases of property and equipment	(14,488)	(19,376)
Business acquisition (net of cash acquired)	(4,934)
Purchases of restricted cash and investments	(1,043)	(840)
Proceeds from divestitures (net of cash divested)	2,723
Proceeds from sale of restricted cash and investments	973	817
Proceeds from sale of property and equipment	96	314
Net cash used in investing activities	(16,673)	(19,085)
Cash flows from financing activities:
Payments on long-term debt	(11,502)	(33,935)
Dividends paid	(7,835)	(7,792)
Payments on revolving credit facility	(22,166)
Proceeds from revolving credit facility	26,132
Proceeds from exercise of stock options	124	1,042
Other	(162)	(262)
Net cash used in financing activities	(15,409)	(40,947)
Effect of foreign exchange rate changes on cash	168	(244)
Increase (decrease) in cash and cash equivalents	6,800	(9,894)
Cash and cash equivalents at beginning of period	5,989	22,971
Cash and cash equivalents at end of period	12,789	13,077
Supplemental Disclosures
Income taxes paid, net of receipts	13,203	7,994
Interest paid	7,438	9,864
Non-cash investing and financing activities:
Capital expenditures in accounts payable and other payables	2,403	1,804
Restricted stock issued from treasury shares	$ 415	$ 272

GENERAL

GENERAL	6 Months Ended
	Jun. 30, 2016
GENERAL
GENERAL	NOTE 1. GENERAL Basis of Presentation The accompanying unaudited consolidated financial statements include the results of operations, financial position and cash flows of US Ecology, Inc. and its wholly-owned subsidiaries. All inter-company balances have been eliminated. Throughout these financial statements words such as “we,” “us,” “our,” “US Ecology” and the “Company” refer to US Ecology, Inc. and its subsidiaries. In the opinion of management, the accompanying unaudited consolidated financial statements include all adjustments (consisting only of normal recurring adjustments) necessary to present fairly, in all material respects, the results of the Company for the periods presented. These consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) have been omitted pursuant to the rules and regulations of the SEC. These consolidated financial statements should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2015. The results of operations for the three and six months ended June 30, 2016 are not necessarily indicative of the results to be expected for the entire year ending December 31, 2016. For comparative purposes, certain amounts in prior periods’ consolidated financial statements have been reclassified to conform to the current period presentation. On November 1, 2015, we sold our Allstate Power Vac, Inc. (“Allstate”) subsidiary to a private investor group. See Note 3 for additional information. The Company’s consolidated balance sheet as of December 31, 2015 has been derived from the Company’s audited consolidated balance sheet as of that date. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenue and expenses during the reporting period. Actual results could differ materially from the estimates and assumptions that we use in the preparation of our financial statements. As it relates to estimates and assumptions in amortization rates and environmental obligations, significant engineering, operations and accounting judgments are required. We review these estimates and assumptions no less than annually. In many circumstances, the ultimate outcome of these estimates and assumptions will not be known for decades into the future. Actual results could differ materially from these estimates and assumptions due to changes in applicable regulations, changes in future operational plans and inherent imprecision associated with estimating environmental impacts far into the future. Recently Issued Accounting Pronouncements In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-09, Compensation - Stock Compensation (Topic 718) . This ASU was issued as part of the FASB’s simplification initiative and affects all entities that issue share-based payment awards to their employees. The amendments in this update cover such areas as the recognition of excess tax benefits and deficiencies, the classification of those excess tax benefits on the statement of cash flows, an accounting policy election for forfeitures, the amount an employer can withhold to cover income taxes and still qualify for equity classification and the classification of those taxes paid on the statement of cash flows. The update is effective for annual and interim periods beginning after December 15, 2016. Early adoption is permitted. We are assessing the impact the adoption of ASU 2016-09 may have on our consolidated financial position, results of operations and cash flows. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) , which provides guidance for revenue recognition. The ASU’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The guidance permits the use of either the retrospective or cumulative effect transition method. The ASU also requires enhanced disclosures regarding the nature, amount, timing, and uncertainty of revenues and cash flows from contracts with customers. In August 2015, the FASB issued ASU 2015-14: Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date , which deferred the effective date established in ASU 2014-09. The amendments in ASU 2014-09 are now effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Early adoption is permitted but not before annual periods beginning after December 15, 2016. We are currently assessing the impact the adoption of ASU 2014-09 may have on our consolidated financial position, results of operations and cash flows.

BUSINESS COMBINATION

BUSINESS COMBINATION	6 Months Ended
	Jun. 30, 2016
BUSINESS COMBINATION
BUSINESS COMBINATION	NOTE 2. BUSINESS COMBINATION On May 2, 2016, the Company acquired 100% of the outstanding shares of Environmental Services Inc., (“ESI”), an environmental services company based in Tilbury, Ontario, Canada. ESI is focused primarily on hazardous and non-hazardous transportation and disposal, hazardous and non-hazardous waste treatment, industrial services, confined space rescue and emergency response work throughout Ontario. The total purchase price was $4.9 million, net of cash acquired, and was funded with cash on hand. ESI is reported as part of our Environmental Services segment, however, revenues and total assets of ESI are not material to our consolidated financial position or results of operations. We have allocated the purchase price to the assets acquired and liabilities assumed based on estimates of the fair value at the date of the acquisition, resulting in $939,000 allocated to goodwill (which is not deductible for tax purposes), $861,000 allocated to intangible assets (primarily customer relationships) to be amortized over a weighted average life of approximately 14 years, and $638,000 allocated to indefinite-lived environmental permits. The purchase price allocation is preliminary, as estimates and assumptions are subject to change as more information becomes available.

DIVESTITURES

DIVESTITURES	6 Months Ended
	Jun. 30, 2016
DIVESTITURES
DIVESTITURES	NOTE 3. DIVESTITURES Divestiture of Augusta, Georgia Facility (“Augusta”) On April 5, 2016, we completed the divestiture of Augusta for cash proceeds of $1.9 million. Augusta was reported as part of our Environmental Services segment. Sales, net income and total assets of Augusta are not material to our consolidated financial position or results of operations in any period presented. We recognized a $1.9 million pre-tax gain on the divestiture of Augusta, which is included in Other income (expense) in our consolidated statements of operations for the three and six months ended June 30, 2016. Divestiture of Allstate On November 1, 2015, we completed the divestiture of Allstate for cash proceeds at closing of $58.8 million. For the year ended December 31, 2015, we recognized a pre-tax loss on the divestiture of Allstate, including transaction-related costs, of $542,000, which was included in Other income (expense) in our consolidated statements of operations. On April 25, 2016, we received additional cash proceeds of $827,000 in settlement of final post-closing adjustments, resulting in a pre-tax gain of $351,000, which is included in Other income (expense) in our consolidated statements of operations for the three and six months ended June 30, 2016. Prior to the divesture, Allstate represented the majority of the industrial services business included in our Field & Industrial Services segment. The sale of Allstate did not meet the requirements to be reported as a discontinued operation as defined in ASU No. 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant and Equipment (Topic 360), Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity . See Note 5 to the Consolidated Financial Statements in “Part II, Item 8. Financial Statements and Supplementary Data” of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2015 for additional information.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	6 Months Ended
	Jun. 30, 2016
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	NOTE 4. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) Changes in accumulated other comprehensive income (loss) (“AOCI”) consisted of the following: Foreign Currency Translation Unrealized Loss on Interest Rate Hedge Total Balance at December 31, 2015 $ ) $ ) $ ) Other comprehensive income (loss) before reclassifications, net of tax ) ) Amounts reclassified out of AOCI, net of tax (1) — Other comprehensive income (loss) ) Balance at June 30, 2016 $ ) $ ) $ ) (1) Before-tax reclassifications of $808,000 ($525,000 after-tax) and $1.6 million ($1.1 million after-tax) for the three and six months ended June 30, 2016, respectively, and before-tax reclassifications of $879,000 ($572,000 after-tax) and $1.8 million ($1.1 million after-tax) for the three and six months ended June 30, 2015, respectively, were included in Interest expense in the Company’s consolidated statements of operations. Amounts relate to our interest rate swap which is designated as a cash flow hedge. Changes in fair value of the swap recognized in AOCI are reclassified to interest expense when hedged interest payments on the underlying debt are made. Amounts in AOCI expected to be recognized in interest expense over the next 12 months total approximately $3.2 million ($2.1 million after tax).

CONCENTRATIONS AND CREDIT RISK

CONCENTRATIONS AND CREDIT RISK	6 Months Ended
	Jun. 30, 2016
CONCENTRATIONS AND CREDIT RISK
CONCENTRATIONS AND CREDIT RISK	NOTE 5. CONCENTRATIONS AND CREDIT RISK Major Customers No customer accounted for more than 10% of total revenue for the three or six months ended June 30, 2016 or the three or six months ended June 30, 2015. No customer accounted for more than 10% of total trade receivables as of June 30, 2016 or December 31, 2015. Credit Risk Concentration We maintain most of our cash and cash equivalents with nationally recognized financial institutions like Wells Fargo Bank, National Association (“Wells Fargo”) and Comerica, Inc. Substantially all balances are uninsured and are not used as collateral for other obligations. Concentrations of credit risk on accounts receivable are believed to be limited due to the number, diversification and character of the obligors and our credit evaluation process.

RECEIVABLES

RECEIVABLES	6 Months Ended
	Jun. 30, 2016
RECEIVABLES
RECEIVABLES	NOTE 6. RECEIVABLES Receivables consisted of the following: June 30, December 31, $s in thousands 2016 2015 Trade $ $ Unbilled revenue Other Total receivables Allowance for doubtful accounts ) ) Receivables, net $ $

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 30, 2016
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS	NOTE 7. FAIR VALUE MEASUREMENTS Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Assets and liabilities recorded at fair value are categorized using defined hierarchical levels directly related to the amount of subjectivity associated with the inputs to fair value measurements, as follows: Level 1 - Quoted prices in active markets for identical assets or liabilities; Level 2 - Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable; Level 3 - Unobservable inputs in which little or no market activity exists, requiring an entity to develop its own assumptions that market participants would use to value the asset or liability. The Company’s financial instruments consist of cash and cash equivalents, accounts receivable, restricted cash and investments, accounts payable, accrued liabilities, debt and interest rate swap agreements. The estimated fair value of cash and cash equivalents, accounts receivable, accounts payable, accrued liabilities and revolving credit facility approximate their carrying value due to the short-term nature of these instruments. The Company estimates the fair value of its variable-rate debt using Level 2 inputs, such as interest rates, related terms and maturities of similar obligations. At June 30, 2016, the fair value of the Company’s variable-rate debt was estimated to be $289.9 million. The Company’s assets and liabilities measured at fair value on a recurring basis consisted of the following: June 30, 2016 Quoted Prices in Active Markets Other Observable Inputs Unobservable Inputs $s in thousands (Level 1) (Level 2) (Level 3) Total Assets: Fixed-income securities (1) $ $ $ — $ Money market funds (2) — — Total $ $ $ — $ Liabilities: Interest rate swap agreement (3) $ — $ $ — $ Total $ — $ $ — $ December 31, 2015 Quoted Prices in Active Markets Other Observable Inputs Unobservable Inputs $s in thousands (Level 1) (Level 2) (Level 3) Total Assets: Fixed-income securities (1) $ $ $ — $ Money market funds (2) — — Total $ $ $ — $ Liabilities: Interest rate swap agreement (3) $ — $ $ — $ Total $ — $ $ — $ (1) We invest a portion of our Restricted cash and investments in fixed-income securities, including U.S. Treasury and U.S. agency securities. We measure the fair value of U.S. Treasury securities using quoted prices for identical assets in active markets. We measure the fair value of U.S. agency securities using observable market activity for similar assets. The fair value of our fixed-income securities approximates our cost basis in the investments. (2) We invest a portion of our Restricted cash and investments in money market funds. We measure the fair value of these money market fund investments using quoted prices for identical assets in active markets. (3) In order to manage interest rate exposure, we entered into an interest rate swap agreement in October 2014 that effectively converts a portion of our variable-rate debt to a fixed interest rate. The swap is designated as a cash flow hedge, with gains and losses deferred in other comprehensive income to be recognized as an adjustment to interest expense in the same period that the hedged interest payments affect earnings. The interest rate swap has an effective date of December 31, 2014 with an initial notional amount of $250.0 million. The fair value of the interest rate swap agreement represents the difference in the present value of cash flows calculated at the contracted interest rates and at current market interest rates at the end of the period. We calculate the fair value of the interest rate swap agreement quarterly based on the quoted market price for the same or similar financial instruments. The fair value of the interest rate swap agreement is included in Other long-term liabilities in the Company’s consolidated balance sheet as of June 30, 2016 and December 31, 2015.

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	6 Months Ended
	Jun. 30, 2016
PROPERTY AND EQUIPMENT
PROPERTY AND EQUIPMENT	NOTE 8. PROPERTY AND EQUIPMENT Property and equipment consisted of the following: June 30, December 31, $s in thousands 2016 2015 Cell development costs $ $ Land and improvements Buildings and improvements Railcars Vehicles and other equipment Construction in progress Total property and equipment Accumulated depreciation and amortization ) ) Property and equipment, net $ $ Depreciation and amortization expense for the three months ended June 30, 2016 and 2015 was $6.2 million and $7.7 million, respectively. Depreciation and amortization expense for the six months ended June 30, 2016 and 2015 was $12.1 million and $15.1 million, respectively.

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	6 Months Ended
	Jun. 30, 2016
GOODWILL AND INTANGIBLE ASSETS
GOODWILL AND INTANGIBLE ASSETS	NOTE 9. GOODWILL AND INTANGIBLE ASSETS Changes in goodwill for the six months ended June 30, 2016 consisted of the following: $s in thousands Environmental Services Field & Industrial Services Total Balance at December 31, 2015 $ $ $ ESI acquisition — Foreign currency translation — Balance at June 30, 2016 $ $ $ Intangible assets, net consisted of the following: June 30, 2016 December 31, 2015 $s in thousands Cost Accumulated Amortization Net Cost Accumulated Amortization Net Amortizing intangible assets: Permits, licenses and lease $ $ ) $ $ $ ) $ Customer relationships ) ) Technology - formulae and processes ) ) Customer backlog ) ) Tradename ) ) Developed software ) ) Non-compete agreements ) ) — Internet domain and website ) ) Database ) ) Total amortizing intangible assets ) ) Nonamortizing intangible assets: Permits and licenses — — Tradename — — Total intangible assets, net $ $ ) $ $ $ ) $ Amortization expense for the three months ended June 30, 2016 and 2015 was $2.6 million and $3.3 million, respectively. Amortization expense for the six months ended June 30, 2016 and 2015 was $5.3 million and $6.6 million, respectively. Foreign intangible asset carrying amounts are affected by foreign currency translation.

DEBT

DEBT	6 Months Ended
	Jun. 30, 2016
DEBT
DEBT	NOTE 10. DEBT Long-term debt consisted of the following: June 30, December 31, $s in thousands 2016 2015 Term loan $ $ Unamortized discount and debt issuance costs ) ) Total debt Current portion of long-term debt ) ) Long-term debt $ $ On June 17, 2014, in connection with the acquisition of EQ Holdings, Inc. and its wholly-owned subsidiaries (collectively “EQ”), the Company entered into a new $540.0 million senior secured credit agreement (the “Credit Agreement”) with a syndicate of banks comprised of a $415.0 million term loan (the “Term Loan”) with a maturity date of June 17, 2021 and a $125.0 million revolving line of credit (the “Revolving Credit Facility”) with a maturity date of June 17, 2019. Upon entering into the Credit Agreement, the Company terminated its existing credit agreement with Wells Fargo, dated October 29, 2010, as amended (the “Former Agreement”). Immediately prior to the termination of the Former Agreement, there were no outstanding borrowings under the Former Agreement. No early termination penalties were incurred as a result of the termination of the Former Agreement. Term Loan The Term Loan provided an initial commitment amount of $415.0 million, the proceeds of which were used to acquire 100% of the outstanding shares of EQ and pay related transaction fees and expenses. The Term Loan bears interest at a base rate (as defined in the Credit Agreement) plus 2.00% or LIBOR plus 3.00%, at the Company’s option. The Term Loan is subject to amortization in equal quarterly installments in an aggregate annual amount equal to 1.00% of the original principal amount of the Term Loan. At June 30, 2016, the effective interest rate on the Term Loan, including the impact of our interest rate swap, was 4.74%. Interest only payments are due either monthly or on the last day of any interest period, as applicable. As set forth in the Credit Agreement, the Company is required to enter into one or more interest rate hedge agreements in amounts sufficient to fix the interest rate on at least 50% of the principal amount of the $415.0 million Term Loan. In October 2014, the Company entered into an interest rate swap agreement with Wells Fargo, effectively fixing the interest rate on $220.0 million, or 76%, of the Term Loan principal outstanding as of June 30, 2016. Revolving Credit Facility The Revolving Credit Facility provides up to $125.0 million of revolving credit loans or letters of credit with the use of proceeds restricted solely for working capital and other general corporate purposes. Under the Revolving Credit Facility, revolving loans are available based on a base rate (as defined in the Credit Agreement) or LIBOR, at the Company’s option, plus an applicable margin which is determined according to a pricing grid under which the interest rate decreases or increases based on our ratio of funded debt to consolidated earnings before interest, taxes, depreciation and amortization (as defined in the Credit Agreement). At June 30, 2016, the effective interest rate on the Revolving Credit Facility was 5.25%. The Company is required to pay a commitment fee of 0.50% per annum on the unused portion of the Revolving Credit Facility, with such commitment fee to be reduced based upon the Company’s total leverage ratio as defined in the Credit Agreement. The maximum letter of credit capacity under the Revolving Credit Facility is $50.0 million and the Credit Agreement provides for a letter of credit fee equal to the applicable margin for LIBOR loans under the Revolving Credit Facility. Interest payments are due either monthly or on the last day of any interest period, as applicable. At June 30, 2016, there were $4.0 million of working capital borrowings outstanding on the Revolving Credit Facility. These borrowings are due “on demand” and presented as short-term debt in the consolidated balance sheets. As of June 30, 2016, the availability under the Revolving Credit Facility was $113.5 million with $7.5 million of the Revolving Credit Facility issued in the form of standby letters of credit utilized as collateral for closure and post-closure financial assurance and other assurance obligations. Except as set forth below, the Company may prepay the Term Loan or permanently reduce the Revolving Credit Facility commitment under the Credit Agreement at any time without premium or penalty (other than customary “breakage” costs with respect to the early termination of LIBOR loans). Subject to certain exceptions, the Credit Agreement provides for mandatory prepayment upon certain asset dispositions, casualty events and issuances of indebtedness. The Credit Agreement is also subject to mandatory annual prepayments commencing in December 2015 if our total leverage (defined as the ratio of our consolidated funded debt as of the last day of the applicable fiscal year to our adjusted EBITDA for such period) exceeds certain ratios as follows: 50% of our adjusted excess cash flow (as defined in the Credit Agreement and which takes into account certain adjustments) if our total leverage ratio is greater than 2.50 to 1.00, with step-downs to 0% if our total leverage ratio is equal to or less than 2.50 to 1.00. Pursuant to (i) an unconditional guarantee agreement (the “Guarantee”) and (ii) a collateral agreement, each entered into by the Company and its domestic subsidiaries on June 17, 2014, the Company’s obligations under the Credit Agreement are jointly and severally and fully and unconditionally guaranteed on a senior basis by all of the Company’s existing and certain future domestic subsidiaries and the Credit Agreement is secured by substantially all of the Company’s and its domestic subsidiaries’ assets except the Company’s and its domestic subsidiaries’ real property. The Credit Agreement contains customary restrictive covenants, subject to certain permitted amounts and exceptions, including covenants limiting the ability of the Company to incur additional indebtedness, pay dividends and make other restricted payments, repurchase shares of our outstanding stock and create certain liens. We may only declare quarterly or annual dividends if on the date of declaration, no event of default has occurred and no other event or condition has occurred that would constitute default due to the payment of the dividend. The Credit Agreement also contains a financial maintenance covenant, which is a maximum Consolidated Senior Secured Leverage Ratio, as defined in the Credit Agreement, and is only applicable to the Revolving Credit Facility. Our Consolidated Senior Secured Leverage Ratio as of the last day of any fiscal quarter, commencing with June 30, 2014, may not exceed the ratios indicated below: Fiscal Quarters Ending Maximum Ratio December 31, 2015 through September 30, 2016 3.75 to 1.00 December 31, 2016 through September 30, 2017 3.50 to 1.00 December 31, 2017 through September 30, 2018 3.25 to 1.00 December 31, 2018 and thereafter 3.00 to 1.00 At June 30, 2016, we were in compliance with all of the financial covenants in the Credit Agreement.

CLOSURE AND POST-CLOSURE OBLIGA

CLOSURE AND POST-CLOSURE OBLIGATIONS	6 Months Ended
	Jun. 30, 2016
CLOSURE AND POST-CLOSURE OBLIGATIONS
CLOSURE AND POST-CLOSURE OBLIGATIONS	NOTE 11. CLOSURE AND POST-CLOSURE OBLIGATIONS Our accrued closure and post-closure liability represents the expected future costs, including corrective actions, associated with closure and post-closure of our operating and non-operating disposal facilities. We record the fair value of our closure and post-closure obligations as a liability in the period in which the regulatory obligation to retire a specific asset is triggered. For our individual landfill cells, the required closure and post-closure obligations under the terms of our permits and our intended operation of the landfill cell are triggered and recorded when the cell is placed into service and waste is initially disposed in the landfill cell. The fair value is based on the total estimated costs to close the landfill cell and perform post-closure activities once the landfill cell has reached capacity and is no longer accepting waste. We perform periodic reviews of both non-operating and operating facilities and revise accruals for estimated closure and post-closure, remediation or other costs as necessary. Recorded liabilities are based on our best estimates of current costs and are updated periodically to include the effects of existing technology, presently enacted laws and regulations, inflation and other economic factors. Changes to closure and post-closure obligations consisted of the following: Three Months Ended Six Months Ended $s in thousands June 30, 2016 June 30, 2016 Closure and post-closure obligations, beginning of period $ $ Accretion expense Payments ) ) Foreign currency translation — Closure and post-closure obligations, end of period Less current portion ) ) Long-term portion $ $

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2016
INCOME TAXES
INCOME TAXES	NOTE 12. INCOME TAXES Our effective tax rate for the three months ended June 30, 2016 was 39.6%, down from 70.3% for the three months ended June 30, 2015. Our effective tax rate for the six months ended June 30, 2016 was 39.1%, down from 49.9% for the six months ended June 30, 2015. The decreases for both the three and six months ended June 30, 2016 primarily reflect non-deductible impairment charges of $6.7 million recorded during the three and six months ended June 30, 2015. The decreases are partially offset by a lower proportion of earnings from our Canadian operations, which are taxed at a lower corporate tax rate, for the three and six months ended June 30, 2016 compared with the three and six months ended June 30, 2015. The decreases are also partially offset by a higher U.S. effective tax rate in the three and six months ended June 30, 2016 driven by a higher overall effective state tax rate resulting from changes in our apportionment between the various states in which we operate. We file a consolidated U.S. federal income tax return with the Internal Revenue Service (“IRS”) as well as income tax returns in various states and Canada. During the six months ended June 30, 2016, the US Ecology, Inc. IRS examination for the 2012 tax year concluded with no material changes. US Ecology, Inc. is subject to examination by the IRS for tax years 2013 through 2015. During the six months ended June 30, 2016, the EQ IRS examination for the 2012 tax year concluded with no material changes. EQ is subject to examination by the IRS for tax years 2013 through 2015. We may be subject to examinations by the Canada Revenue Agency as well as various state and local taxing jurisdictions for tax years 2011 through 2015. We are currently not aware of any other examinations by taxing authorities.

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2016
EARNINGS PER SHARE
EARNINGS PER SHARE	NOTE 13. EARNINGS PER SHARE Three Months Ended June 30, $s and shares in thousands, except per share 2016 2015 amounts Basic Diluted Basic Diluted Net income $ $ $ $ Weighted average basic shares outstanding Dilutive effect of stock-based awards Weighted average diluted shares outstanding Earnings per share $ $ $ $ Anti-dilutive shares excluded from calculation Six Months Ended June 30, $s and shares in thousands, except per share 2016 2015 amounts Basic Diluted Basic Diluted Net income $ $ $ $ Weighted average basic shares outstanding Dilutive effect of stock-based awards Weighted average diluted shares outstanding Earnings per share $ $ $ $ Anti-dilutive shares excluded from calculation

EQUITY

EQUITY	6 Months Ended
	Jun. 30, 2016
EQUITY
EQUITY	NOTE 14. EQUITY Stock Repurchase Program On June 1, 2016, the Company’s Board of Directors authorized the repurchase of $25.0 million of the Company’s outstanding common stock. Repurchases may be made from time to time in open market or through privately negotiated transactions. The timing of any repurchases will be based upon prevailing market conditions and other factors. The Company did not repurchase any shares of common stock under the repurchase program during the three months ended June 30, 2016. The repurchase program will remain in effect until June 2, 2018, unless extended by our Board of Directors. Omnibus Incentive Plan On May 27, 2015, our stockholders approved the Omnibus Incentive Plan (“Omnibus Plan”), which was approved by our Board of Directors on April 7, 2015. The Omnibus Plan was developed to provide additional incentives through equity ownership in US Ecology and, as a result, encourage employees and directors to contribute to our success. The Omnibus Plan provides, among other things, the ability for the Company to grant restricted stock, performance stock, options, stock appreciation rights, restricted stock units (“RSUs”), performance stock units (“PSUs”) and other stock-based awards or cash awards to officers, employees, consultants and non-employee directors. Subsequent to the approval of the Omnibus Plan in May 2015, we stopped granting equity awards under our 2008 Stock Option Incentive Plan and our 2006 Restricted Stock Plan (collectively, the “Previous Plans”), and the Previous Plans will remain in effect solely for the settlement of awards granted under the Previous Plans. No shares that are reserved but unissued under the Previous Plans or that are outstanding under the Previous Plans and reacquired by the Company for any reason will be available for issuance under the Omnibus Plan. The Omnibus Plan expires on April 7, 2025 and authorizes 1,500,000 shares of common stock for grant over the life of the Omnibus Plan. As of June 30, 2016, 1,241,752 shares of common stock remain available for grant under the Omnibus Plan. PSUs, RSUs and Restricted Stock On January 4, 2016, the Company granted 16,000 PSUs to certain employees. Each PSU represents the right to receive, on the settlement date, one share of the Company’s common stock. The total number of PSUs each participant is eligible to earn ranges from 0% to 200% of the target number of PSUs granted. The actual number of PSUs that will vest and be settled in shares is determined at the end of a three-year performance period beginning January 1, 2016, based on total stockholder return relative to a set of peer companies. The fair value of the PSUs estimated on the grant date using a Monte Carlo simulation was $41.22 per unit. Compensation expense is recorded over the awards’ vesting period. Assumptions used in the Monte Carlo simulation to calculate the fair value of the PSUs granted in 2016 and 2015 are as follows: 2016 2015 Stock price on grant date $ $ Expected term (years) Expected volatility % % Risk-free interest rate % % Expected dividend yield % % A summary of our PSU, restricted stock and RSU activity for the six months ended June 30, 2016 is as follows: PSUs Restricted Stock RSUs Shares Weighted Average Grant Date Fair Value Shares Weighted Average Grant Date Fair Value Shares Weighted Average Grant Date Fair Value Outstanding as of December 31, 2015 $ $ — $ — Granted Vested — — ) — — Cancelled, expired or forfeited — — — — — — Outstanding as of June 30, 2016 $ $ $ Stock Options A summary of our stock option activity for the six months ended June 30, 2016 is as follows: Shares Weighted Average Exercise Price Outstanding as of December 31, 2015 $ Granted Exercised ) Cancelled, expired or forfeited — — Outstanding as of June 30, 2016 $ Exercisable as of June 30, 2016 $ Treasury Stock During the six months ended June 30, 2016, the Company issued 10,412 shares of restricted stock, under the Omnibus Plan, from our treasury stock at an average cost of $39.82 per share and repurchased 5,667 shares of the Company’s common stock in connection with the net share settlement of employee equity awards at an average cost of $40.59 per share. During the six months ended June 30, 2016, option holders exercised 7,873 options with a weighted-average exercise price of $27.78 per option. Option holders exercised 2,083 of these options via net share settlement.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2016
COMMITMENTS AND CONTINGENCIES.
COMMITMENTS AND CONTINGENCIES	NOTE 15. COMMITMENTS AND CONTINGENCIES Litigation and Regulatory Proceedings In the ordinary course of business, we are involved in judicial and administrative proceedings involving federal, state, provincial or local governmental authorities, including regulatory agencies that oversee and enforce compliance with permits. Fines or penalties may be assessed by our regulators for non-compliance. Actions may also be brought by individuals or groups in connection with permitting of planned facilities, modification or alleged violations of existing permits, or alleged damages suffered from exposure to hazardous substances purportedly released from our operated sites, as well as other litigation. We maintain insurance intended to cover property and damage claims asserted as a result of our operations. Periodically, management reviews and may establish reserves for legal and administrative matters, or other fees expected to be incurred in relation to these matters. We are not currently a party to any material pending legal proceedings and are not aware of any other claims that could, individually or in the aggregate, have a materially adverse effect on our financial position, results of operations or cash flows .

OPERATING SEGMENTS

OPERATING SEGMENTS	6 Months Ended
	Jun. 30, 2016
OPERATING SEGMENTS
OPERATING SEGMENTS	NOTE 16. OPERATING SEGMENTS Financial Information by Segment Our operations are managed in two reportable segments reflecting our internal reporting structure and nature of services offered as follows: Environmental Services - This segment provides a broad range of hazardous material management services including transportation, recycling, treatment and disposal of hazardous and non-hazardous waste at Company-owned landfill, wastewater and other treatment facilities. Field & Industrial Services - This segment provides packaging and collection of hazardous waste and total waste management solutions at customer sites and through our 10-day transfer facilities. Services include on-site management, waste characterization, transportation and disposal of non-hazardous and hazardous waste. This segment also provides specialty services such as high-pressure cleaning, tank cleaning, decontamination, remediation, transportation, spill cleanup and emergency response and other services to commercial and industrial facilities and to government entities. The operations not managed through our two reportable segments are recorded as “Corporate.” Corporate selling, general and administrative expenses include typical corporate items such as legal, accounting and other items of a general corporate nature. Income taxes are assigned to Corporate, but all other items are included in the segment where they originated. Inter-company transactions have been eliminated from the segment information and are not significant between segments. Effective January 1, 2016, we changed our internal reporting structure by moving the financial results of our Sulligent, Alabama and Tampa, Florida facilities from our Environmental Services segment to our Field & Industrial Services segment. The purpose of this change is to align our internal reporting structure with how we manage our business based on the primary service offering of each facility. Throughout this Quarterly Report on Form 10-Q, our segment results for all periods presented have been recast to reflect this change . Summarized financial information of our reportable segments is as follows: Three Months Ended June 30, 2016 $s in thousands Environmental Services Field & Industrial Services Corporate Total Treatment & Disposal Revenue $ $ $ — $ Services Revenue: Transportation and Logistics (1) — Industrial Cleaning (2) — — Technical Services (3) — — Remediation (4) — — Other (5) — — Total Revenue $ $ $ — $ Depreciation, amortization and accretion $ $ $ $ Capital expenditures $ $ $ $ Total assets $ $ $ $ Three Months Ended June 30, 2015 $s in thousands Environmental Services Field & Industrial Services (6) Corporate Total Treatment & Disposal Revenue $ $ $ — $ Services Revenue: Transportation and Logistics (1) — Industrial Cleaning (2) — — Technical Services (3) — — Remediation (4) — — Other (5) — — Total Revenue $ $ $ — $ Depreciation, amortization and accretion $ $ $ $ Capital expenditures $ $ $ $ Total assets $ $ $ $ Six Months Ended June 30, 2016 $s in thousands Environmental Services Field & Industrial Services Corporate Total Treatment & Disposal Revenue $ $ $ — $ Services Revenue: Transportation and Logistics (1) — Industrial Cleaning (2) — — Technical Services (3) — — Remediation (4) — — Other (5) — — Total Revenue $ $ $ — $ Depreciation, amortization and accretion $ $ $ $ Capital expenditures $ $ $ $ Total assets $ $ $ $ Six Months Ended June 30, 2015 $s in thousands Environmental Services Field & Industrial Services (6) Corporate Total Treatment & Disposal Revenue $ $ $ — $ Services Revenue: Transportation and Logistics (1) — Industrial Cleaning (2) — — Technical Services (3) — — Remediation (4) — — Other (5) — — Total Revenue $ $ $ — $ Depreciation, amortization and accretion $ $ $ $ Capital expenditures $ $ $ $ Total assets $ $ $ $ (1) Includes such services as collection, transportation and disposal of non-hazardous and hazardous waste. (2) Includes such services as industrial cleaning and maintenance for refineries, chemical plants, steel and automotive plants, and refinery services such as tank cleaning and temporary storage. (3) Includes such services as Total Waste Management (“TWM”) programs, retail services, laboratory packing, less-than-truck-load (“LTL”) service and Household Hazardous Waste (“HHW”) collection. (4) Includes such services as site assessment, onsite treatment, project management and remedial action planning and execution. (5) Includes such services as emergency response and marine. (6) Financial data includes the operations of our Allstate business. We completed the divestiture of Allstate on November 1, 2015. Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (“Adjusted EBITDA”) The primary financial measure used by management to assess segment performance is Adjusted EBITDA. Adjusted EBITDA is defined as net income before interest expense, interest income, income tax expense, depreciation, amortization, stock based compensation, accretion of closure and post-closure liabilities, foreign currency gain/loss, non-cash impairment charges and other income/expense, which are not considered part of usual business operations. Adjusted EBITDA is a complement to results provided in accordance with GAAP and we believe that such information provides additional useful information to analysts, stockholders and other users to understand the Company’s operating performance. Since Adjusted EBITDA is not a measurement determined in accordance with GAAP and is thus susceptible to varying calculations, Adjusted EBITDA as presented may not be comparable to other similarly titled measures of other companies. Items excluded from Adjusted EBITDA are significant components in understanding and assessing our financial performance. Adjusted EBITDA should not be considered in isolation or as an alternative to, or substitute for, net income, cash flows generated by operations, investing or financing activities, or other financial statement data presented in the consolidated financial statements as indicators of financial performance or liquidity. Adjusted EBITDA has limitations as an analytical tool and should not be considered in isolation or a substitute for analyzing our results as reported under GAAP. Some of the limitations are: (1) Adjusted EBITDA does not reflect changes in, or cash requirements for, our working capital needs; (2) Adjusted EBITDA does not reflect our interest expense, or the requirements necessary to service interest or principal payments on our debt; (3) Adjusted EBITDA does not reflect our income tax expenses or the cash requirements to pay our taxes; (4) Adjusted EBITDA does not reflect our cash expenditures or future requirements for capital expenditures or contractual commitments; and (5) Although depreciation and amortization charges are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future, and Adjusted EBITDA does not reflect any cash requirements for such replacements. A reconciliation of Net Income to Adjusted EBITDA is as follows: Three Months Ended June 30, Six Months Ended June 30, $s in thousands 2016 2015 2016 2015 Net income $ $ $ $ Income tax expense Interest expense Interest income ) ) ) ) Foreign currency (gain) loss ) ) Other income ) ) ) ) Depreciation and amortization of plant and equipment Amortization of intangibles Stock-based compensation Accretion and non-cash adjustment of closure & post-closure liabilities Impairment charges — — Adjusted EBITDA $ $ $ $ Adjusted EBITDA, by operating segment, is as follows: Three Months Ended June 30, Six Months Ended June 30, $s in thousands 2016 2015 2016 2015 Adjusted EBITDA: Environmental Services $ $ $ $ Field & Industrial Services Corporate ) ) ) ) Total $ $ $ $ Revenue, Property and Equipment and Intangible Assets Outside of the United States We provide services in the United States and Canada. Revenues by geographic location where the underlying services were performed were as follows: Three Months Ended June 30, Six Months Ended June 30, $s in thousands 2016 2015 2016 2015 United States $ $ $ $ Canada Total revenue $ $ $ $ Long-lived assets, comprised of property and equipment and intangible assets net of accumulated depreciation and amortization, by geographic location are as follows: June 30, December 31, $s in thousands 2016 2015 United States $ $ Canada Total long-lived assets $ $

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2016
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 17. SUBSEQUENT EVENTS Quarterly Dividend On July 1, 2016, we declared a quarterly dividend of $0.18 per common share to stockholders of record on July 22, 2016. The dividend was paid using cash on hand on July 29, 2016 in an aggregate amount of $3.9 million.

GENERAL (Policies)

GENERAL (Policies)	6 Months Ended
	Jun. 30, 2016
GENERAL
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated financial statements include the results of operations, financial position and cash flows of US Ecology, Inc. and its wholly-owned subsidiaries. All inter-company balances have been eliminated. Throughout these financial statements words such as “we,” “us,” “our,” “US Ecology” and the “Company” refer to US Ecology, Inc. and its subsidiaries. In the opinion of management, the accompanying unaudited consolidated financial statements include all adjustments (consisting only of normal recurring adjustments) necessary to present fairly, in all material respects, the results of the Company for the periods presented. These consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) have been omitted pursuant to the rules and regulations of the SEC. These consolidated financial statements should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2015. The results of operations for the three and six months ended June 30, 2016 are not necessarily indicative of the results to be expected for the entire year ending December 31, 2016. For comparative purposes, certain amounts in prior periods’ consolidated financial statements have been reclassified to conform to the current period presentation. On November 1, 2015, we sold our Allstate Power Vac, Inc. (“Allstate”) subsidiary to a private investor group. See Note 3 for additional information. The Company’s consolidated balance sheet as of December 31, 2015 has been derived from the Company’s audited consolidated balance sheet as of that date.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenue and expenses during the reporting period. Actual results could differ materially from the estimates and assumptions that we use in the preparation of our financial statements. As it relates to estimates and assumptions in amortization rates and environmental obligations, significant engineering, operations and accounting judgments are required. We review these estimates and assumptions no less than annually. In many circumstances, the ultimate outcome of these estimates and assumptions will not be known for decades into the future. Actual results could differ materially from these estimates and assumptions due to changes in applicable regulations, changes in future operational plans and inherent imprecision associated with estimating environmental impacts far into the future.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-09, Compensation - Stock Compensation (Topic 718) . This ASU was issued as part of the FASB’s simplification initiative and affects all entities that issue share-based payment awards to their employees. The amendments in this update cover such areas as the recognition of excess tax benefits and deficiencies, the classification of those excess tax benefits on the statement of cash flows, an accounting policy election for forfeitures, the amount an employer can withhold to cover income taxes and still qualify for equity classification and the classification of those taxes paid on the statement of cash flows. The update is effective for annual and interim periods beginning after December 15, 2016. Early adoption is permitted. We are assessing the impact the adoption of ASU 2016-09 may have on our consolidated financial position, results of operations and cash flows. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) , which provides guidance for revenue recognition. The ASU’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The guidance permits the use of either the retrospective or cumulative effect transition method. The ASU also requires enhanced disclosures regarding the nature, amount, timing, and uncertainty of revenues and cash flows from contracts with customers. In August 2015, the FASB issued ASU 2015-14: Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date , which deferred the effective date established in ASU 2014-09. The amendments in ASU 2014-09 are now effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Early adoption is permitted but not before annual periods beginning after December 15, 2016. We are currently assessing the impact the adoption of ASU 2014-09 may have on our consolidated financial position, results of operations and cash flows.

ACCUMULATED OTHER COMPREHENSI26

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	6 Months Ended
	Jun. 30, 2016
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Schedule of changes in accumulated other comprehensive income (loss)	Foreign Currency Translation Unrealized Loss on Interest Rate Hedge Total Balance at December 31, 2015 $ ) $ ) $ ) Other comprehensive income (loss) before reclassifications, net of tax ) ) Amounts reclassified out of AOCI, net of tax (1) — Other comprehensive income (loss) ) Balance at June 30, 2016 $ ) $ ) $ ) (1) Before-tax reclassifications of $808,000 ($525,000 after-tax) and $1.6 million ($1.1 million after-tax) for the three and six months ended June 30, 2016, respectively, and before-tax reclassifications of $879,000 ($572,000 after-tax) and $1.8 million ($1.1 million after-tax) for the three and six months ended June 30, 2015, respectively, were included in Interest expense in the Company’s consolidated statements of operations. Amounts relate to our interest rate swap which is designated as a cash flow hedge. Changes in fair value of the swap recognized in AOCI are reclassified to interest expense when hedged interest payments on the underlying debt are made. Amounts in AOCI expected to be recognized in interest expense over the next 12 months total approximately $3.2 million ($2.1 million after tax).

RECEIVABLES (Tables)

RECEIVABLES (Tables)	6 Months Ended
	Jun. 30, 2016
RECEIVABLES
Schedule of receivables	June 30, December 31, $s in thousands 2016 2015 Trade $ $ Unbilled revenue Other Total receivables Allowance for doubtful accounts ) ) Receivables, net $ $

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 30, 2016
FAIR VALUE MEASUREMENTS
Schedule of assets and liabilities measured at fair value on a recurring basis	June 30, 2016 Quoted Prices in Active Markets Other Observable Inputs Unobservable Inputs $s in thousands (Level 1) (Level 2) (Level 3) Total Assets: Fixed-income securities (1) $ $ $ — $ Money market funds (2) — — Total $ $ $ — $ Liabilities: Interest rate swap agreement (3) $ — $ $ — $ Total $ — $ $ — $ December 31, 2015 Quoted Prices in Active Markets Other Observable Inputs Unobservable Inputs $s in thousands (Level 1) (Level 2) (Level 3) Total Assets: Fixed-income securities (1) $ $ $ — $ Money market funds (2) — — Total $ $ $ — $ Liabilities: Interest rate swap agreement (3) $ — $ $ — $ Total $ — $ $ — $ (1) We invest a portion of our Restricted cash and investments in fixed-income securities, including U.S. Treasury and U.S. agency securities. We measure the fair value of U.S. Treasury securities using quoted prices for identical assets in active markets. We measure the fair value of U.S. agency securities using observable market activity for similar assets. The fair value of our fixed-income securities approximates our cost basis in the investments. (2) We invest a portion of our Restricted cash and investments in money market funds. We measure the fair value of these money market fund investments using quoted prices for identical assets in active markets. (3) In order to manage interest rate exposure, we entered into an interest rate swap agreement in October 2014 that effectively converts a portion of our variable-rate debt to a fixed interest rate. The swap is designated as a cash flow hedge, with gains and losses deferred in other comprehensive income to be recognized as an adjustment to interest expense in the same period that the hedged interest payments affect earnings. The interest rate swap has an effective date of December 31, 2014 with an initial notional amount of $250.0 million. The fair value of the interest rate swap agreement represents the difference in the present value of cash flows calculated at the contracted interest rates and at current market interest rates at the end of the period. We calculate the fair value of the interest rate swap agreement quarterly based on the quoted market price for the same or similar financial instruments. The fair value of the interest rate swap agreement is included in Other long-term liabilities in the Company’s consolidated balance sheet as of June 30, 2016 and December 31, 2015.

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	6 Months Ended
	Jun. 30, 2016
PROPERTY AND EQUIPMENT
Schedule of property and equipment	June 30, December 31, $s in thousands 2016 2015 Cell development costs $ $ Land and improvements Buildings and improvements Railcars Vehicles and other equipment Construction in progress Total property and equipment Accumulated depreciation and amortization ) ) Property and equipment, net $ $

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jun. 30, 2016
GOODWILL AND INTANGIBLE ASSETS
Schedule of changes in goodwill	$s in thousands Environmental Services Field & Industrial Services Total Balance at December 31, 2015 $ $ $ ESI acquisition — Foreign currency translation — Balance at June 30, 2016 $ $ $
Schedule of intangible assets	June 30, 2016 December 31, 2015 $s in thousands Cost Accumulated Amortization Net Cost Accumulated Amortization Net Amortizing intangible assets: Permits, licenses and lease $ $ ) $ $ $ ) $ Customer relationships ) ) Technology - formulae and processes ) ) Customer backlog ) ) Tradename ) ) Developed software ) ) Non-compete agreements ) ) — Internet domain and website ) ) Database ) ) Total amortizing intangible assets ) ) Nonamortizing intangible assets: Permits and licenses — — Tradename — — Total intangible assets, net $ $ ) $ $ $ ) $

DEBT (Tables)

DEBT (Tables)	6 Months Ended
	Jun. 30, 2016
DEBT
Schedule of long-term debt	June 30, December 31, $s in thousands 2016 2015 Term loan $ $ Unamortized discount and debt issuance costs ) ) Total debt Current portion of long-term debt ) ) Long-term debt $ $
Schedule of maximum consolidated senior secured leverage ratio for different periods	Fiscal Quarters Ending Maximum Ratio December 31, 2015 through September 30, 2016 3.75 to 1.00 December 31, 2016 through September 30, 2017 3.50 to 1.00 December 31, 2017 through September 30, 2018 3.25 to 1.00 December 31, 2018 and thereafter 3.00 to 1.00

CLOSURE AND POST-CLOSURE OBLI32

CLOSURE AND POST-CLOSURE OBLIGATIONS (Tables)	6 Months Ended
	Jun. 30, 2016
CLOSURE AND POST-CLOSURE OBLIGATIONS
Schedule of changes in closure and post-closure obligations	Three Months Ended Six Months Ended $s in thousands June 30, 2016 June 30, 2016 Closure and post-closure obligations, beginning of period $ $ Accretion expense Payments ) ) Foreign currency translation — Closure and post-closure obligations, end of period Less current portion ) ) Long-term portion $ $

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2016
EARNINGS PER SHARE
Schedule of earnings per share	Three Months Ended June 30, $s and shares in thousands, except per share 2016 2015 amounts Basic Diluted Basic Diluted Net income $ $ $ $ Weighted average basic shares outstanding Dilutive effect of stock-based awards Weighted average diluted shares outstanding Earnings per share $ $ $ $ Anti-dilutive shares excluded from calculation Six Months Ended June 30, $s and shares in thousands, except per share 2016 2015 amounts Basic Diluted Basic Diluted Net income $ $ $ $ Weighted average basic shares outstanding Dilutive effect of stock-based awards Weighted average diluted shares outstanding Earnings per share $ $ $ $ Anti-dilutive shares excluded from calculation

EQUITY (Tables)

EQUITY (Tables)	6 Months Ended
	Jun. 30, 2016
EQUITY
Schedule of assumptions for determining the fair value for PSU awards using Monte Carlo simulation models	2016 2015 Stock price on grant date $ $ Expected term (years) Expected volatility % % Risk-free interest rate % % Expected dividend yield % %
Summary of PSU, restricted stock and RSU activity	PSUs Restricted Stock RSUs Shares Weighted Average Grant Date Fair Value Shares Weighted Average Grant Date Fair Value Shares Weighted Average Grant Date Fair Value Outstanding as of December 31, 2015 $ $ — $ — Granted Vested — — ) — — Cancelled, expired or forfeited — — — — — — Outstanding as of June 30, 2016 $ $ $
Summary of stock option plan activity	Shares Weighted Average Exercise Price Outstanding as of December 31, 2015 $ Granted Exercised ) Cancelled, expired or forfeited — — Outstanding as of June 30, 2016 $ Exercisable as of June 30, 2016 $

OPERATING SEGMENTS (Tables)

OPERATING SEGMENTS (Tables)	6 Months Ended
	Jun. 30, 2016
OPERATING SEGMENTS
Summary of financial information concerning reportable segments	Three Months Ended June 30, 2016 $s in thousands Environmental Services Field & Industrial Services Corporate Total Treatment & Disposal Revenue $ $ $ — $ Services Revenue: Transportation and Logistics (1) — Industrial Cleaning (2) — — Technical Services (3) — — Remediation (4) — — Other (5) — — Total Revenue $ $ $ — $ Depreciation, amortization and accretion $ $ $ $ Capital expenditures $ $ $ $ Total assets $ $ $ $ Three Months Ended June 30, 2015 $s in thousands Environmental Services Field & Industrial Services (6) Corporate Total Treatment & Disposal Revenue $ $ $ — $ Services Revenue: Transportation and Logistics (1) — Industrial Cleaning (2) — — Technical Services (3) — — Remediation (4) — — Other (5) — — Total Revenue $ $ $ — $ Depreciation, amortization and accretion $ $ $ $ Capital expenditures $ $ $ $ Total assets $ $ $ $ Six Months Ended June 30, 2016 $s in thousands Environmental Services Field & Industrial Services Corporate Total Treatment & Disposal Revenue $ $ $ — $ Services Revenue: Transportation and Logistics (1) — Industrial Cleaning (2) — — Technical Services (3) — — Remediation (4) — — Other (5) — — Total Revenue $ $ $ — $ Depreciation, amortization and accretion $ $ $ $ Capital expenditures $ $ $ $ Total assets $ $ $ $ Six Months Ended June 30, 2015 $s in thousands Environmental Services Field & Industrial Services (6) Corporate Total Treatment & Disposal Revenue $ $ $ — $ Services Revenue: Transportation and Logistics (1) — Industrial Cleaning (2) — — Technical Services (3) — — Remediation (4) — — Other (5) — — Total Revenue $ $ $ — $ Depreciation, amortization and accretion $ $ $ $ Capital expenditures $ $ $ $ Total assets $ $ $ $ (1) Includes such services as collection, transportation and disposal of non-hazardous and hazardous waste. (2) Includes such services as industrial cleaning and maintenance for refineries, chemical plants, steel and automotive plants, and refinery services such as tank cleaning and temporary storage. (3) Includes such services as Total Waste Management (“TWM”) programs, retail services, laboratory packing, less-than-truck-load (“LTL”) service and Household Hazardous Waste (“HHW”) collection. (4) Includes such services as site assessment, onsite treatment, project management and remedial action planning and execution. (5) Includes such services as emergency response and marine. (6) Financial data includes the operations of our Allstate business. We completed the divestiture of Allstate on November 1, 2015.
Reconciliation of Net Income to Adjusted EBITDA and adjusted EBITDA by operating segment	Three Months Ended June 30, Six Months Ended June 30, $s in thousands 2016 2015 2016 2015 Net income $ $ $ $ Income tax expense Interest expense Interest income ) ) ) ) Foreign currency (gain) loss ) ) Other income ) ) ) ) Depreciation and amortization of plant and equipment Amortization of intangibles Stock-based compensation Accretion and non-cash adjustment of closure & post-closure liabilities Impairment charges — — Adjusted EBITDA $ $ $ $ Three Months Ended June 30, Six Months Ended June 30, $s in thousands 2016 2015 2016 2015 Adjusted EBITDA: Environmental Services $ $ $ $ Field & Industrial Services Corporate ) ) ) ) Total $ $ $ $
Summary of revenues by geographic location	Three Months Ended June 30, Six Months Ended June 30, $s in thousands 2016 2015 2016 2015 United States $ $ $ $ Canada Total revenue $ $ $ $
Schedule of long-lived assets by geographic location	June 30, December 31, $s in thousands 2016 2015 United States $ $ Canada Total long-lived assets $ $

BUSINESS COMBINATIONS (Details)

BUSINESS COMBINATIONS (Details) - USD ($)	May 02, 2006	Jun. 30, 2016	Dec. 31, 2015
BUSINESS ACQUISITIONS
Payment to acquire business, net of cash acquired		$ 4,934,000
Goodwill		$ 193,835,000	$ 191,823,000
ESI
BUSINESS ACQUISITIONS
Percentage of outstanding shares acquired	100.00%
Payment to acquire business, net of cash acquired	$ 4,900,000
Goodwill	939,000
Identifiable intangible assets	$ 861,000
Weighted average amortization period	14 years
Indefinite-lived environmental permits	$ 638,000

DIVESTITURE (Details)

DIVESTITURE (Details) - Disposed of by Sale - USD ($)	Apr. 25, 2016	Jun. 30, 2016	Jun. 30, 2016	Dec. 31, 2015	Apr. 05, 2016	Nov. 01, 2015
Augusta facility
Divestiture
Cash consideration					$ 1,900,000
Gain (loss) on divestiture		$ 1,900,000	$ 1,900,000
Allstate
Divestiture
Cash consideration	$ 827,000					$ 58,800,000
Gain (loss) on divestiture	$ 351,000			$ (542,000)

ACCUMULATED OTHER COMPREHENSI38

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2016USD ($)
Accumulated other comprehensive loss, net of taxes
Balance at the beginning	$ 256,135
Balance at the end	267,141
Accumulated Other Comprehensive Loss
Accumulated other comprehensive loss, net of taxes
Balance at the beginning	(17,066)
Other comprehensive income (loss) before reclassifications, net of tax	(217)
Amounts reclassified out of AOCI, net of tax (1)	1,061
Other comprehensive income (loss)	844
Balance at the end	(16,222)
Foreign Currency Translation Adjustments
Accumulated other comprehensive loss, net of taxes
Balance at the beginning	(14,028)
Other comprehensive income (loss) before reclassifications, net of tax	3,289
Other comprehensive income (loss)	3,289
Balance at the end	(10,739)
Unrealized Loss on Interest Rate Hedge
Accumulated other comprehensive loss, net of taxes
Balance at the beginning	(3,038)
Other comprehensive income (loss) before reclassifications, net of tax	(3,506)
Amounts reclassified out of AOCI, net of tax (1)	1,061
Other comprehensive income (loss)	(2,445)
Balance at the end	$ (5,483)

ACCUMULATED OTHER COMPREHENSI39

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - INTEREST EXPENSE (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Reclassification adjustments
Interest expense	$ 4,303,000	$ 5,433,000	$ 8,862,000	$ 11,127,000
Unrealized Loss on Interest Rate Hedge | Interest rate swap agreement | Reclassification out of accumulated other comprehensive income
Reclassification adjustments
Interest expense	808,000	879,000	1,600,000	1,800,000
Interest expense, net of tax	(525,000)	$ 572,000	1,100,000	$ 1,100,000
Amounts in AOCI expected to be recognized over the next 12 months before tax	3,200,000		3,200,000
Amounts in AOCI expected to be recognized over the next 12 months, net of taxes	$ 2,100,000		$ 2,100,000

RECEIVABLES (Details)

RECEIVABLES (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
RECEIVABLES
Trade	$ 84,273	$ 95,055
Unbilled revenue	17,267	11,983
Other	1,357	2,568
Total receivables	102,897	109,606
Allowance for doubtful accounts	(2,330)	(3,226)
Receivables, net	$ 100,567	$ 106,380

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015	Dec. 31, 2014
Interest rate swap agreement
Assets measured at fair value on a recurring basis
Initial notional amount			$ 250,000
Other Observable Inputs (Level 2) | Variable-rate debt
Assets measured at fair value on a recurring basis
Liabilities fair value disclosure	$ 289,900
Recurring
Assets measured at fair value on a recurring basis
Assets fair value disclosure	5,818	$ 5,748
Liabilities fair value disclosure	8,436	4,676
Recurring | Interest rate swap agreement
Assets measured at fair value on a recurring basis
Liabilities fair value disclosure	8,436	4,676
Recurring | Fixed-income securities
Assets measured at fair value on a recurring basis
Assets fair value disclosure	4,037	3,976
Recurring | Money market funds
Assets measured at fair value on a recurring basis
Assets fair value disclosure	1,781	1,772
Recurring | Quoted Prices in Active Markets (Level 1)
Assets measured at fair value on a recurring basis
Assets fair value disclosure	2,604	2,175
Recurring | Quoted Prices in Active Markets (Level 1) | Fixed-income securities
Assets measured at fair value on a recurring basis
Assets fair value disclosure	823	403
Recurring | Quoted Prices in Active Markets (Level 1) | Money market funds
Assets measured at fair value on a recurring basis
Assets fair value disclosure	1,781	1,772
Recurring | Other Observable Inputs (Level 2)
Assets measured at fair value on a recurring basis
Assets fair value disclosure	3,214	3,573
Liabilities fair value disclosure	8,436	4,676
Recurring | Other Observable Inputs (Level 2) | Interest rate swap agreement
Assets measured at fair value on a recurring basis
Liabilities fair value disclosure	8,436	4,676
Recurring | Other Observable Inputs (Level 2) | Fixed-income securities
Assets measured at fair value on a recurring basis
Assets fair value disclosure	$ 3,214	$ 3,573

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
PROPERTY AND EQUIPMENT
Total property and equipment	$ 371,797		$ 371,797		$ 354,308
Accumulated depreciation and amortization	(156,313)		(156,313)		(143,974)
Property and equipment, net	215,484		215,484		210,334
Depreciation and amortization expense	6,202	$ 7,656	12,106	$ 15,135
Cell development costs
PROPERTY AND EQUIPMENT
Total property and equipment	123,215		123,215		121,473
Land and improvements
PROPERTY AND EQUIPMENT
Total property and equipment	33,158		33,158		31,606
Buildings and improvements
PROPERTY AND EQUIPMENT
Total property and equipment	73,820		73,820		70,990
Railcars
PROPERTY AND EQUIPMENT
Total property and equipment	17,375		17,375		17,375
Vehicles and other equipment
PROPERTY AND EQUIPMENT
Total property and equipment	102,779		102,779		92,797
Construction in progress
PROPERTY AND EQUIPMENT
Total property and equipment	$ 21,450		$ 21,450		$ 20,067

GOODWILL AND INTANGIBLE ASSET43

GOODWILL AND INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Changes in goodwill
Balance at the beginning of the period			$ 191,823
ESI acquisition			939
Foreign currency translation			1,073
Balance at the end of the period	$ 193,835		193,835
Intangible Assets
Amortizing intangible assets, Cost	213,708		213,708		$ 210,759
Accumulated amortization	(26,705)		(26,705)		(21,061)
Amortizing intangible assets, Net	187,003		187,003		189,698
Total intangible assets, cost	264,206		264,206		260,632
Total intangible assets, net	237,501		237,501		239,571
Amortization expense	2,646	$ 3,304	5,256	$ 6,606
Permits and licenses
Intangible Assets
Nonamortizing intangible assets	50,367		50,367		49,750
Tradename
Intangible Assets
Nonamortizing intangible assets	131		131		123
Permits, licenses and lease
Intangible Assets
Amortizing intangible assets, Cost	111,120		111,120		109,652
Accumulated amortization	(8,254)		(8,254)		(6,682)
Amortizing intangible assets, Net	102,866		102,866		102,970
Customer relationships
Intangible Assets
Amortizing intangible assets, Cost	83,001		83,001		82,021
Accumulated amortization	(11,791)		(11,791)		(9,015)
Amortizing intangible assets, Net	71,210		71,210		73,006
Technology - formulae and processes
Intangible Assets
Amortizing intangible assets, Cost	7,023		7,023		6,560
Accumulated amortization	(1,241)		(1,241)		(1,054)
Amortizing intangible assets, Net	5,782		5,782		5,506
Customer backlog
Intangible Assets
Amortizing intangible assets, Cost	3,652		3,652		3,652
Accumulated amortization	(743)		(743)		(561)
Amortizing intangible assets, Net	2,909		2,909		3,091
Tradename
Intangible Assets
Amortizing intangible assets, Cost	4,318		4,318		4,318
Accumulated amortization	(2,930)		(2,930)		(2,210)
Amortizing intangible assets, Net	1,388		1,388		2,108
Developed software
Intangible Assets
Amortizing intangible assets, Cost	2,917		2,917		2,899
Accumulated amortization	(848)		(848)		(678)
Amortizing intangible assets, Net	2,069		2,069		2,221
Non-compete agreements
Intangible Assets
Amortizing intangible assets, Cost	747		747		732
Accumulated amortization	(735)		(735)		(732)
Amortizing intangible assets, Net	12		12
Internet domain and website
Intangible Assets
Amortizing intangible assets, Cost	540		540		540
Accumulated amortization	(58)		(58)		(44)
Amortizing intangible assets, Net	482		482		496
Database
Intangible Assets
Amortizing intangible assets, Cost	390		390		385
Accumulated amortization	(105)		(105)		(85)
Amortizing intangible assets, Net	285		285		$ 300
Environmental Services
Changes in goodwill
Balance at the beginning of the period			147,692
ESI acquisition			939
Foreign currency translation			1,073
Balance at the end of the period	149,704		149,704
Field & Industrial Services
Changes in goodwill
Balance at the beginning of the period			44,131
Balance at the end of the period	$ 44,131		$ 44,131

DEBT (Details)

DEBT (Details) $ in Thousands	Jun. 17, 2014USD ($)	Jun. 30, 2016USD ($)	Dec. 31, 2015USD ($)	Jun. 16, 2014USD ($)
Long-term debt
Term loan		$ 289,491	$ 300,994
Unamortized discount and debt issuance costs		(6,404)	(7,254)
Total debt		283,087	293,740
Current portion of long-term debt		(2,954)	(3,056)
Long-term debt		$ 280,133	$ 290,684
Credit Agreement
Long-term debt
Mandatory prepayments as a percentage of adjusted excess cash flow if entity's total leverage ratio is greater than the specified leverage ratio	50.00%
Total leverage ratio	2.50
Mandatory prepayments as a percentage of adjusted excess cash flow if entity's total leverage ratio is equal to or less than the specified leverage ratio	0.00%
Credit Agreement | EQ
Long-term debt
Maximum borrowing capacity	$ 540,000
Term Loan
Long-term debt
Debt instrument, aggregate annual amortization as a percentage of original principal amount	1.00%
Effective interest rate (as a percent)		4.74%
Percentage of principal amount of debt instrument for which the Company is required to enter into one or more interest rate hedge agreements		76.00%
Amount of debt hedged		$ 220,000
Term Loan | Minimum
Long-term debt
Percentage of principal amount of debt instrument for which the Company is required to enter into one or more interest rate hedge agreements	50.00%
Term Loan | Base rate
Long-term debt
Percentage points added to the reference rate	2.00%
Term Loan | LIBOR
Long-term debt
Percentage points added to the reference rate	3.00%
Term Loan | EQ
Long-term debt
Maximum borrowing capacity	$ 415,000
Percentage of outstanding shares acquired	100.00%
Revolving Line of Credit
Long-term debt
Maximum borrowing capacity	$ 125,000
Amount outstanding		$ 4,000		$ 0
Early termination penalties incurred	$ 0
Interest rate (as a percent)		5.25%
Commitment fee (as a percent)	0.50%
Availability for borrowings under line of credit		$ 113,500
Line of credit issued in the form of a standby letters of credit		$ 7,500
Revolving Line of Credit | December 31, 2015 through September 30, 2016
Long-term debt
Maximum consolidated senior secured leverage ratio		3.75
Revolving Line of Credit | December 31, 2016 through September 30, 2017
Long-term debt
Maximum consolidated senior secured leverage ratio		3.50
Revolving Line of Credit | December 31, 2017 through September 30, 2018
Long-term debt
Maximum consolidated senior secured leverage ratio		3.25
Revolving Line of Credit | December 31, 2018 and thereafter
Long-term debt
Maximum consolidated senior secured leverage ratio		3
Letter of credit
Long-term debt
Maximum borrowing capacity	$ 50,000

CLOSURE AND POST-CLOSURE OBLI45

CLOSURE AND POST-CLOSURE OBLIGATIONS (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Changes to closure and post-closure obligations
Closure and post-closure obligations, beginning of period	$ 71,786	$ 71,154
Accretion expense	1,025	2,049	$ 2,077
Payments	(376)	(848)
Foreign currency translation		80
Closure and post-closure obligations, end of period	72,435	72,435
Less current portion	(2,680)	(2,680)		$ (2,787)
Long-term portion	$ 69,755	$ 69,755		$ 68,367

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
INCOME TAXES
Effective tax rate (as a percent)	39.60%	70.30%	39.10%	49.90%
Impairment charges		$ 6,700		$ 6,700

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Basic
Net income, basic	$ 8,938	$ 2,138	$ 16,455	$ 8,003
Weighted average basic shares outstanding	21,700	21,617	21,692	21,600
Earnings per share (in dollars per share)	$ 0.41	$ 0.10	$ 0.76	$ 0.37
Diluted
Net income, diluted	$ 8,938	$ 2,138	$ 16,455	$ 8,003
Weighted average basic shares outstanding	21,700	21,617	21,692	21,600
Dilutive effect of stock-based awards (in shares)	90	131	76	119
Weighted average diluted shares outstanding	21,790	21,748	21,768	21,719
Earnings per share (in dollars per share)	$ 0.41	$ 0.10	$ 0.76	$ 0.37
Anti-dilutive shares excluded from calculation	251	178	304	197

EQUITY - REPURCHASE OF COMMON S

EQUITY - REPURCHASE OF COMMON STOCK (Details) $ in Millions	Jun. 01, 2016USD ($)
EQUITY
Authorized repurchase amount of outstanding common stock	$ 25

EQUITY - OMNIBUS PLAN AND PSU A

EQUITY - OMNIBUS PLAN AND PSU ASSUMPTIONS (Details) - USD ($)	Jan. 04, 2016	Jan. 01, 2016	Jun. 30, 2016	Dec. 31, 2015	May 27, 2015
Omnibus Plan
Stock-Based Compensation Plans
Number of shares authorized for grant					1,500,000
Number of shares available for future grant			1,241,752
PSUs
Stock-Based Compensation Plans
Number of common shares each PSU represents (in shares)	1
Performance Stock Units granted	16,000		16,000
Performance period		3 years
Weighted-average grant-date fair value (per unit)	$ 41.22		$ 41.22
Assumptions used in Monte Carlo simulation
Stock price on grant date			$ 35.05	$ 46.89
Expected term (years)			3 years	2 years 7 months 6 days
Expected volatility			29.00%	29.00%
Risk-free interest rate			1.30%	0.90%
Expected dividend yield			2.10%	1.50%
PSUs | Minimum
Stock-Based Compensation Plans
Percentage payout rate	0.00%
PSUs | Maximum
Stock-Based Compensation Plans
Percentage payout rate	200.00%

EQUITY - PSU, RSU, RESTRICTED S

EQUITY - PSU, RSU, RESTRICTED STOCK AND STOCK OPTIONS (Details) - $ / shares	Jan. 04, 2016	Jun. 30, 2016	Jun. 30, 2006
Stock-Based Compensation Plans
Repurchase of common stock (in shares)		5,667
Average cost of repurchase (in dollars per share)		$ 40.59
Shares
Exercised (in shares)		(7,873)
Weighted Average Exercise Price
Exercised (in dollars per share)		$ 27.78
PSUs
Shares
Outstanding at the beginning of the period (in shares)		6,929
Granted (in shares)	16,000	16,000
Outstanding at the end of the period (in shares)		22,929
Weighted Average Grant Date Fair Value
Outstanding at the beginning of the period (in dollars per share)		$ 65.78
Granted (in dollars per share)	$ 41.22	41.22
Outstanding at the end of the period (in dollars per share)		$ 48.64
Restricted stock
Stock-Based Compensation Plans
Issuance of restricted stock from treasury stock (in shares)		10,412
Average cost (in dollars per share)		$ 39.82
Shares
Outstanding at the beginning of the period (in shares)		59,413
Granted (in shares)		34,300
Vested (in shares)		(29,371)
Outstanding at the end of the period (in shares)		64,342
Weighted Average Grant Date Fair Value
Outstanding at the beginning of the period (in dollars per share)		$ 42.67
Granted (in dollars per share)		37.90
Vested (in dollars per share)		37.21
Outstanding at the end of the period (in dollars per share)		$ 42.62
RSUs
Shares
Granted (in shares)		20,830
Outstanding at the end of the period (in shares)		20,830
Weighted Average Grant Date Fair Value
Granted (in dollars per share)		$ 39.10
Outstanding at the end of the period (in dollars per share)		$ 39.10
Stock options
Shares
Outstanding at the beginning of the period (in shares)		336,417
Granted (in shares)			147,660
Exercised (in shares)			(7,873)
Outstanding at the end of the period (in shares)			476,204
Exercisable at the end of the period (in shares)			154,568
Weighted Average Exercise Price
Outstanding at the beginning of the period (in dollars per share)		$ 35.83
Granted (in dollars per share)			$ 37.83
Exercised (in dollars per share)			27.78
Outstanding at the end of the period (in dollars per share)			36.59
Exercisable at the end of the period (in dollars per share)			$ 32.52

EQUITY - TREASURY STOCK (Detail

EQUITY - TREASURY STOCK (Details)	6 Months Ended
	Jun. 30, 2016$ / sharesshares
Stock-Based Compensation Plans
Repurchase of common stock (in shares)	5,667
Average cost of repurchase (in dollars per share) | $ / shares	$ 40.59
Shares
Number of options exercised (in shares)	7,873
Number of options exercised via share settlement	2,083
Weighted Average Exercise Price
Exercised (in dollars per share) | $ / shares	$ 27.78
Restricted stock
Stock-Based Compensation Plans
Average cost (in dollars per share) | $ / shares	$ 39.82
Issuance of restricted stock from treasury stock (in shares)	10,412

OPERATING SEGMENTS - SUMMARIZED

OPERATING SEGMENTS - SUMMARIZED FINANCIAL INFORMATION OF REPORTABLE SEGMENTS (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)segment	Jun. 30, 2015USD ($)	Dec. 31, 2015USD ($)
OPERATING SEGMENTS
Number of reportable segments | segment			2
Total revenue	$ 122,351	$ 139,732	$ 235,669	$ 276,383
Depreciation, amortization & accretion	9,873	12,002	19,411	23,818
Capital expenditures	7,269	10,145	14,488	19,376
Total assets	778,252	863,071	778,252	863,071	$ 771,987
Treatment and Disposal Revenue
OPERATING SEGMENTS
Total revenue	69,805	74,764	139,282	149,778
Transportation and Logistics
OPERATING SEGMENTS
Total revenue	20,844	20,385	41,031	45,465
Industrial Cleaning
OPERATING SEGMENTS
Total revenue	7,201	23,735	11,472	43,542
Technical Services
OPERATING SEGMENTS
Total revenue	19,167	18,083	36,772	32,603
Remediation
OPERATING SEGMENTS
Total revenue	4,653	2,580	5,490	4,239
Other
OPERATING SEGMENTS
Total revenue	681	185	1,622	756
Corporate
OPERATING SEGMENTS
Depreciation, amortization & accretion	125	143	247	279
Capital expenditures	673	901	1,553	1,443
Total assets	58,905	64,166	58,905	64,166
Environmental Services | Operating Segment
OPERATING SEGMENTS
Total revenue	82,797	86,986	164,321	174,368
Depreciation, amortization & accretion	8,371	8,795	16,451	17,428
Capital expenditures	5,575	5,975	11,414	12,861
Total assets	591,511	595,161	591,511	595,161
Environmental Services | Operating Segment | Treatment and Disposal Revenue
OPERATING SEGMENTS
Total revenue	66,908	71,641	133,633	143,559
Environmental Services | Operating Segment | Transportation and Logistics
OPERATING SEGMENTS
Total revenue	15,889	15,345	30,688	30,809
Field & Industrial Services | Operating Segment
OPERATING SEGMENTS
Total revenue	39,554	52,746	71,348	102,015
Depreciation, amortization & accretion	1,377	3,064	2,713	6,111
Capital expenditures	1,021	3,269	1,521	5,072
Total assets	127,836	203,744	127,836	203,744
Field & Industrial Services | Operating Segment | Treatment and Disposal Revenue
OPERATING SEGMENTS
Total revenue	2,897	3,123	5,649	6,219
Field & Industrial Services | Operating Segment | Transportation and Logistics
OPERATING SEGMENTS
Total revenue	4,955	5,040	10,343	14,656
Field & Industrial Services | Operating Segment | Industrial Cleaning
OPERATING SEGMENTS
Total revenue	7,201	23,735	11,472	43,542
Field & Industrial Services | Operating Segment | Technical Services
OPERATING SEGMENTS
Total revenue	19,167	18,083	36,772	32,603
Field & Industrial Services | Operating Segment | Remediation
OPERATING SEGMENTS
Total revenue	4,653	2,580	5,490	4,239
Field & Industrial Services | Operating Segment | Other
OPERATING SEGMENTS
Total revenue	$ 681	$ 185	$ 1,622	$ 756

OPERATING SEGMENTS - RECONCILIA

OPERATING SEGMENTS - RECONCILIATION OF EBITDA (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Reconciliation of Net Income to adjusted EBITDA
Net income	$ 8,938	$ 2,138	$ 16,455	$ 8,003
Income tax expense	5,866	5,055	10,550	7,957
Interest expense	4,303	5,433	8,862	11,127
Interest income	(33)	(6)	(82)	(47)
Foreign currency (gain) loss	343	(292)	(416)	775
Other income	(2,330)	(233)	(2,499)	(769)
Depreciation and amortization of property and equipment	6,202	7,656	12,106	15,135
Amortization of intangible assets	2,646	3,304	5,256	6,606
Share-based compensation	783	627	1,578	1,089
Accretion and non-cash adjustment of closure & post-closure liabilities	1,025	1,042	2,049	2,077
Impairment charges		6,700		6,700
Adjusted EBITDA	27,743	31,424	53,859	58,653
Operating Segment | Environmental Services
Reconciliation of Net Income to adjusted EBITDA
Adjusted EBITDA	33,551	35,790	66,604	72,359
Operating Segment | Field & Industrial Services
Reconciliation of Net Income to adjusted EBITDA
Adjusted EBITDA	5,123	5,686	8,801	9,355
Corporate
Reconciliation of Net Income to adjusted EBITDA
Adjusted EBITDA	$ (10,931)	$ (10,052)	$ (21,546)	$ (23,061)

OPERATING SEGMENTS - REVENUE AN

OPERATING SEGMENTS - REVENUE AND LONG-LIVED ASSETS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Revenue, Property and Equipment and Intangible Assets Outside of the United States
Total revenue	$ 122,351	$ 139,732	$ 235,669	$ 276,383
Total long- lived assets	452,985		452,985		$ 449,905
United States
Revenue, Property and Equipment and Intangible Assets Outside of the United States
Total revenue	111,183	129,568	214,374	254,331
Total long- lived assets	396,700		396,700		400,320
Canada
Revenue, Property and Equipment and Intangible Assets Outside of the United States
Total revenue	11,168	$ 10,164	21,295	$ 22,052
Total long- lived assets	$ 56,285		$ 56,285		$ 49,585

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($) $ / shares in Units, $ in Thousands	Jul. 29, 2016	Jul. 01, 2016	Jun. 30, 2016	Jun. 30, 2015
SUBSEQUENT EVENTS
Dividend paid in cash			$ 7,835	$ 7,792
Subsequent events
SUBSEQUENT EVENTS
Quarterly dividend declared (in dollars per share)		$ 0.18
Dividend paid in cash	$ 3,900