Stericycle (SRCL) 10-Q 5 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Jul. 31, 2015
Document Documentand Entity Information [Abstract]
Entity Registrant Name	STERICYCLE INC
Entity Central Index Key	861,878
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Trading Symbol	SRCL
Amendment Flag	false
Entity Common Stock, Shares Outstanding		84,832,922

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Current Assets:
Cash and cash equivalents	$ 32,956	$ 22,236
Short-term investments	103	380
Accounts receivable, less allowance for doubtful accounts of $19,890 in 2015 and $19,083 in 2014	524,134	465,473
Deferred income taxes	28,327	28,322
Prepaid expenses	33,202	30,632
Other current assets	41,471	33,173
Total Current Assets	660,193	580,216
Property, plant and equipment, less accumulated depreciation of $394,955 in 2015 and $364,124 in 2014	468,960	460,408
Goodwill	2,454,092	2,418,832
Intangible assets, less accumulated amortization of $129,881 in 2015 and $114,922 in 2014	908,176	909,645
Other assets	35,523	32,621
Total Assets	4,526,944	4,401,722
Current Liabilities:
Current portion of long-term debt	129,270	131,969
Accounts payable	143,833	114,596
Accrued liabilities	151,310	131,743
Deferred revenues	18,560	21,624
Other current liabilities	66,762	61,599
Total Current Liabilities	509,735	461,531
Long-term debt, net of current portion	1,538,736	1,527,246
Deferred income taxes	428,392	431,643
Other liabilities	68,060	64,117
Equity:
Common stock (par value $.01 per share, 120,000,000 shares authorized, 84,823,229 issued and outstanding in 2015 and 84,883,517 issued and outstanding in 2014)	848	849
Additional paid-in capital	354,639	289,211
Accumulated other comprehensive loss	(180,907)	(138,419)
Retained earnings	1,788,123	1,743,371
Total Stericycle, Inc.’s Equity	1,962,703	1,895,012
Noncontrolling interest	19,318	22,173
Total Equity	1,982,021	1,917,185
Total Liabilities and Equity	$ 4,526,944	$ 4,401,722

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 19,890	$ 19,083
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	394,955	364,124
Intangible assets, accumulated amortization	$ 129,881	$ 114,922
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	120,000,000	120,000,000
Common stock, issued	84,823,229	84,883,517
Common stock, outstanding	84,823,229	84,883,517

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Statement [Abstract]
Revenues	$ 715,689	$ 640,822	$ 1,379,008	$ 1,210,777
Costs and Expenses:
Cost of revenues (exclusive of depreciation shown below)	396,793	350,416	764,133	652,176
Depreciation - cost of revenues	14,072	15,102	28,720	27,828
Selling, general and administrative expenses (exclusive of depreciation and amortization shown below)	181,752	117,547	323,115	229,727
Depreciation – selling, general and administrative expenses	4,387	3,977	8,505	7,292
Amortization	8,921	8,402	17,718	15,717
Total Costs and Expenses	605,925	495,444	1,142,191	932,740
Income from Operations	109,764	145,378	236,817	278,037
Other Income (Expense):
Interest income	39	50	74	70
Interest expense	(16,429)	(16,418)	(35,062)	(31,336)
Other expense, net	(1,604)	(392)	(2,202)	(1,092)
Total Other Expense	(17,994)	(16,760)	(37,190)	(32,358)
Income Before Income Taxes	91,770	128,618	199,627	245,679
Income Tax Expense	30,874	45,941	62,921	83,232
Net Income	60,896	82,677	136,706	162,447
Less: Net Income Attributable to Noncontrolling Interests	447	741	799	1,362
Net Income Attributable to Stericycle, Inc.	$ 60,449	$ 81,936	$ 135,907	$ 161,085
Earnings Per Common Share Attributable to Stericycle, Inc. Common Shareholders:
Basic	$ 0.71	$ 0.97	$ 1.60	$ 1.90
Diluted	$ 0.70	$ 0.95	$ 1.57	$ 1.87
Weighted Average Number of Common Shares Outstanding:
Basic	84,961,907	84,699,043	85,000,723	84,982,966
Diluted	86,221,034	85,982,588	86,292,816	86,300,292

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
Net income	$ 60,896	$ 82,677	$ 136,706	$ 162,447
Other Comprehensive Income/ (Loss):
Foreign currency translation adjustments	24,560	11,884	(39,941)	10,775
Amortization of cash flow hedge into income, net of tax ($55 and $50, and $109 and $100 for the three- and six-months ended June 30, 2015 and 2014, respectively)	90	78	180	157
Change in fair value of cash flow hedge, net of tax ($117 and $55, and $2,498 and $55 for the three- and six-months ended June 30, 2015 and 2014, respectively)	646	(149)	(3,778)	(149)
Total Other Comprehensive Income/ (Loss)	25,296	11,813	(43,539)	10,783
Comprehensive Income	86,192	94,490	93,167	173,230
Less: Comprehensive Income/ (Loss) Attributable to Noncontrolling Interests	216	980	(252)	1,231
Comprehensive Income Attributable to Stericycle, Inc.	$ 85,976	$ 93,510	$ 93,419	$ 171,999

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
Amortization of cash flow hedge into income, tax	$ 55	$ 50	$ 109	$ 100
Change in fair value of cash flow hedge, tax	$ 117	$ 55	$ 2,498	$ 55

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
OPERATING ACTIVITIES:
Net income	$ 136,706	$ 162,447
Adjustments to reconcile net income to net cash provided by operating activities:
Stock compensation expense	10,904	9,124
Excess tax benefit of stock options exercised	(10,899)	(7,080)
Depreciation	37,225	35,120
Amortization	17,718	15,717
Deferred income taxes	973	8,929
Change in fair value of contingent consideration	(640)	3,953
Other, net	6,326	0
Changes in operating assets and liabilities, net of effect of acquisitions:
Accounts receivable	(51,041)	(9,606)
Accounts payable	21,019	10,646
Accrued liabilities	22,571	(6,809)
Deferred revenues	(3,156)	2,332
Other assets and liabilities	(9,046)	13,575
Net cash provided by operating activities	178,660	238,348
INVESTING ACTIVITIES:
Payments for acquisitions, net of cash acquired	(61,766)	(304,832)
Proceeds from/ (purchases of) investments	271	(2,052)
Capital expenditures	(46,794)	(43,668)
Net cash used in investing activities	(108,289)	(350,552)
FINANCING ACTIVITIES:
Repayments of long-term debt and other obligations	(39,590)	(28,005)
Borrowings on foreign bank debt	18,363	96,828
Repayments on foreign bank debt	(43,769)	(85,192)
Borrowings on term loan	250,000	0
Borrowings on senior credit facility	879,024	933,101
Repayments on senior credit facility	(1,072,468)	(732,059)
Payments on capital lease obligations	(1,951)	(1,993)
Payments of deferred financing costs	0	(2,280)
Payment for cash flow hedge	(8,833)	0
Purchases and cancellations of treasury stock	(85,149)	(137,186)
Proceeds from issuance of common stock	39,208	21,195
Excess tax benefit of stock options exercised	10,899	7,080
Payments to noncontrolling interests	(2,603)	(732)
Net cash (used in) / provided by financing activities	(56,869)	70,757
Effect of exchange rate changes on cash and cash equivalents	(2,782)	(394)
Net increase/ (decrease) in cash and cash equivalents	10,720	(41,841)
Cash and cash equivalents at beginning of period	22,236	67,167
Cash and cash equivalents at end of period	32,956	25,326
NON-CASH ACTIVITIES:
Issuances of obligations for acquisitions	$ 47,827	$ 83,864

CONDENSED CONSOLIDATED STATEME8

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interest
Beginning Balance (in shares) at Dec. 31, 2013		85,500,000
Beginning Balance at Dec. 31, 2013	$ 1,767,538	$ 855	$ 195,110	$ 1,610,964	$ (56,468)	$ 17,077
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	328,146			326,456		1,690
Currency translation adjustment	(82,871)				(80,221)	(2,650)
Change in qualifying cash flow hedge, net of tax	(1,730)				(1,730)
Issuance of common stock for exercise of options, restricted stock units and employee stock purchases (in shares)		1,061,000
Issuance of common stock for exercise of options, restricted stock units and employee stock purchases	58,562	$ 11	58,551
Purchase and cancellation of treasury stock (in shares)		(1,677,000)
Purchase and cancellation of treasury stock	(194,066)	$ (17)	0	(194,049)
Stock compensation expense	17,773		17,773
Excess tax benefit of stock options exercised	17,906		17,906
Noncontrolling interests attributable to acquisitions	6,781					6,781
Reduction to noncontrolling interests due to additional ownership	$ (854)		(129)			(725)
Ending Balance (in shares) at Dec. 31, 2014	84,883,517	84,884,000
Ending Balance at Dec. 31, 2014	$ 1,917,185	$ 849	289,211	1,743,371	(138,419)	22,173
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	136,706			135,907		799
Currency translation adjustment	(39,941)				(38,890)	(1,051)
Change in qualifying cash flow hedge, net of tax	(3,598)				(3,598)
Issuance of common stock for exercise of options, restricted stock units and employee stock purchases (in shares)		615,000
Issuance of common stock for exercise of options, restricted stock units and employee stock purchases	$ 43,630	$ 5	43,625
Purchase and cancellation of treasury stock (in shares)	(675,520)	(676,000)
Purchase and cancellation of treasury stock	$ (91,161)	$ (6)	0	(91,155)
Stock compensation expense	10,904		10,904
Excess tax benefit of stock options exercised	10,899		10,899
Reduction to noncontrolling interests due to additional ownership	$ (2,603)		0			(2,603)
Ending Balance (in shares) at Jun. 30, 2015	84,823,229	84,823,000
Ending Balance at Jun. 30, 2015	$ 1,982,021	$ 848	$ 354,639	$ 1,788,123	$ (180,907)	$ 19,318

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION The accompanying condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in annual consolidated financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations. However, the Company believes the disclosures included in the accompanying condensed consolidated financial statements are adequate to make the information presented not misleading. In our opinion, all adjustments necessary for a fair presentation for the periods presented have been reflected and are of a normal recurring nature. These condensed consolidated financial statements should be read in conjunction with the Stericycle, Inc. and Subsidiaries Consolidated Financial Statements and notes thereto for the year ended December 31, 2014, as filed with our Annual Report on Form 10-K for the year ended December 31, 2014. The results of operations for the six months ended June 30, 2015 are not necessarily indicative of the results that may be achieved for the entire year ending December 31, 2015. There were no material changes in the Company’s critical accounting policies since the filing of its 2014 Form 10-K. As discussed in the 2014 Form 10-K, the preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States requires management to make certain estimates and assumptions that affect the amount of reported assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and revenues and expenses during the periods reported. Actual results may differ from those estimates. We have evaluated subsequent events through the date of filing this quarterly report on Form 10-Q. No events have occurred that would require adjustment to or disclosure in the condensed consolidated financial statements.

ACQUISITIONS

ACQUISITIONS	6 Months Ended
	Jun. 30, 2015
Business Combinations [Abstract]
ACQUISITIONS	ACQUISITIONS The following table summarizes the locations of our acquisitions for the six months ended June 30, 2015 : Acquisition Locations 2015 United States 10 Brazil 2 Canada 1 Ireland 1 Mexico 2 Netherlands 1 Romania 2 Republic of Korea 3 Spain 1 Total 23 During the quarter ended March 31, 2015, we completed fifteen acquisitions. Domestically, we acquired 100% of the stock of one regulated waste business and selected assets of three regulated waste businesses. Internationally, in Brazil, we acquired 100% of the stock of two regulated waste businesses. In Ireland, we acquired 100% of the stock of one regulated waste business. In Mexico, we acquired 100% of the stock of two regulated waste businesses. In Romania, we acquired selected assets of two regulated waste businesses. In Republic of Korea, we acquired selected assets of three regulated waste businesses. In Spain, we acquired selected assets of one regulated waste business. During the quarter ended June 30, 2015 , we completed eight acquisitions. Domestically, we acquired 100% of the stock of one regulated waste business, selected assets of four regulated waste businesses and one communication services business. Internationally, in Canada, we acquired 100% of the stock of one communication services business, and in the Netherlands, we acquired 100% of the stock of one regulated waste business. The following table summarizes the aggregate purchase price paid for acquisitions and other adjustments of consideration to be paid for acquisitions during the six months ended June 30 : In thousands Six Months Ended June 30, 2015 2014 Cash $ 61,766 $ 304,832 Promissory notes 35,986 63,022 Deferred consideration 974 5,032 Contingent consideration 10,867 15,810 Total purchase price $ 109,593 $ 388,696 For financial reporting purposes, our acquisitions were accounted for using the acquisition method of accounting. These acquisitions resulted in the recognition of goodwill in our financial statements reflecting the premium paid to acquire businesses that we believe are complementary to our existing operations and fit our growth strategy. During the six months ended June 30, 2015 , we recognized a net increase in goodwill of $56.5 million , excluding the effect of foreign currency translation (see Note 9 – Goodwill and Other Intangible Assets). A net increase of $32.4 million was assigned to our United States reportable segment, and a net increase of $24.1 million was assigned to our International reportable segment. Approximately $21 million of the goodwill recognized during the six months ended June 30, 2015 will be deductible for income taxes. During the six months ended June 30, 2015 , we recognized a net increase in intangible assets from acquisitions of $41.3 million , excluding the effect of foreign currency translation. The changes include $39.9 million in the estimated fair value of acquired customer relationships with amortizable lives of 15 to 40 years and $1.4 million in permits with indefinite lives. The purchase prices for these acquisitions in excess of acquired tangible assets have been primarily allocated to goodwill and other intangibles and are preliminary, pending completion of certain intangible asset valuations and completion accounts. The following table summarizes the preliminary purchase price allocation for current period acquisitions and other adjustments to purchase price allocations during the six months ended June 30 : In thousands Six Months Ended June 30, 2015 2014 Fixed assets $ 12,221 $ 102,394 Intangibles 41,327 219,876 Goodwill 56,455 178,433 Accounts receivable 21,167 54,201 Accounts payable (10,010 ) (25,967 ) Net other liabilities (10,279 ) (57,027 ) Debt — (17,219 ) Net deferred tax liabilities (1,288 ) (59,052 ) Noncontrolling interests — (6,943 ) Total purchase price allocation $ 109,593 $ 388,696 During the six months ended June 30, 2015 and 2014 , the Company incurred $6.3 million and $7.2 million , respectively, of acquisition related expenses. These expenses are included with "Selling, general and administrative expenses" on our Condensed Consolidated Statements of Income. The results of operations of these acquired businesses have been included in the Condensed Consolidated Statements of Income from the date of the acquisition.

NEW ACCOUNTING STANDARDS

NEW ACCOUNTING STANDARDS	6 Months Ended
	Jun. 30, 2015
Accounting Changes and Error Corrections [Abstract]
NEW ACCOUNTING STANDARDS	NEW ACCOUNTING STANDARDS Accounting Standards Recently Adopted Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity On January 1, 2015, we adopted guidance on the presentation and disclosures of reporting discontinued operations. The new guidance defines a discontinued operation as a disposal of a component or group of components that is disposed of or is classified as held for sale and "represents a strategic shift that has (or will have) a major effect on an entity's operations and financial results." For disposals of individually significant components that do not qualify as discontinued operations, an entity must disclose pre-tax earnings of the disposed component. The Company has not disposed of a component of our entity and therefore the implementation of this guidance did not affect our financial position, results of operations, or disclosure requirements. Accounting Standards Issued But Not Yet Adopted Revenue From Contracts With Customers In May 2014, the Financial Accounting Standards Board (the "FASB") issued guidance to provide a single, comprehensive revenue recognition model for all contracts with customers. The revenue guidance contains principles that an entity will apply to determine the measurement of revenue and timing of when it is recognized. The underlying principle is that an entity will recognize revenue to depict the transfer of goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods or services. The amended authoritative guidance associated with revenue recognition is effective for the Company on January 1, 2018. The amended guidance may be applied retrospectively for all periods presented or retrospectively with the cumulative effect of initially applying the amended guidance recognized at the date of initial application. We are in the process of assessing the provisions of the amended guidance and have not determined whether the adoption will have a material impact on our consolidated financial statements. Accounting for Share-Based Payment When the Terms of an Award Provide That a Performance Target Could Be Achieved After the Requisite Service Period In June 2014, the FASB issued guidance that applies to all reporting entities that grant their employees share-based payments in which the terms of the award provide that a performance target that affects vesting could be achieved after the requisite service period. It requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition and follows existing accounting guidance for the treatment of performance conditions. The standard will be effective for annual periods and interim periods within those annual periods beginning after December 15, 2015, with early adoption permitted. The Company does not have any share-based payments with a performance target and therefore does not expect the adoption of this guidance to have any impact on the Company’s financial position or results of operations. Interest-Imputation of Interest In April 2015, the FASB issued guidance that requires debt issuance costs related to a recognized debt liability to be presented in the balance sheet as a direct deduction from the debt liability rather than as an asset. The recognition and measurement guidance for debt issuance costs are not affected by the accounting standard update. The standard will be effective for annual periods and interim periods within those annual periods beginning after December 15, 2015, with early adoption permitted. The revised standard will be adopted by the Company on January 1, 2016, will be applied retrospectively and will require reclassifications within the Company’s consolidated balance sheets and statements of cash flows. The revised standard only affects presentation and therefore will not have an impact on the Company’s results of operations.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	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. The fair value hierarchy distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity's own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below: Level 1 – Quoted prices in active markets for identical assets or liabilities. Level 2 – Observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 – Inputs that are generally unobservable and typically reflect management’s estimate of assumptions that market participants would use in pricing the asset or liability. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement requires judgment, and may affect the valuation of assets and liabilities and their placement within the fair value hierarchy levels. The impact of our creditworthiness has been considered in the fair value measurements noted below. In addition, the fair value measurement of a liability must reflect the nonperformance risk of an entity. There were no movements of items between fair value hierarchies. In thousands Fair Value Measurements Using Total as of Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 32,956 $ 32,956 $ — $ — Short-term investments 103 103 — — Derivative financial instruments 693 — 693 — Total assets $ 33,752 $ 33,059 $ 693 $ — Liabilities: Contingent consideration $ 26,890 $ — $ — $ 26,890 Total liabilities $ 26,890 $ — $ — $ 26,890 In thousands Fair Value Measurements Using Total as of Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 22,236 $ 22,236 $ — $ — Short-term investments 380 380 — — Derivative financial instruments 515 — 515 — Total assets $ 23,131 $ 22,616 $ 515 $ — Liabilities: Contingent consideration $ 19,941 $ — $ — $ 19,941 Derivative financial instruments 2,408 — 2,408 — Total liabilities $ 22,349 $ — $ 2,408 $ 19,941 For our derivative financial instruments we use a market approach valuation technique based on observable market transactions of spot and forward rates. We recorded a $0.7 million asset related to the fair value of the U.S. dollar-Canadian dollar foreign currency swap which was classified as other assets at June 30, 2015 . The objective of the swap is to offset the foreign exchange risk to the U.S. dollar equivalent cash outflows for our Canadian subsidiary. In March 2015, we cash settled a treasury lock hedge for $8.8 million of which $5.3 million , net of $3.5 million tax, was recognized in accumulated other comprehensive income. The purpose was to lock in the interest rate on the issuance of private placement debt in July 2015 and to eliminate interest rate risk. We had contingent consideration liabilities recorded using Level 3 inputs in the amount of $26.9 million , of which $15.4 million was classified as current liabilities, at June 30, 2015 . Contingent consideration liabilities were $19.9 million at December 31, 2014 . Contingent consideration represents amounts expected to be paid as part of acquisition consideration only if certain future events occur. These events are usually targets for revenues or earnings related to the business acquired. We arrive at the fair value of contingent consideration by applying a weighted probability of potential outcomes to the maximum possible payout. The calculation of these potential outcomes is dependent on both past financial performance and management assumptions about future performance. If the financial performance measures were all fully met, our maximum liability would be $29.8 million at June 30, 2015 . Contingent consideration liabilities are reassessed each quarter and are reflected in the Condensed Consolidated Balance Sheets as part of "Other current liabilities" and "Other liabilities". Changes to contingent consideration are reflected in the table below: In thousands Contingent consideration at December 31, 2014 $ 19,941 Increases due to acquisitions 10,867 Decrease due to payments (984 ) Changes due to foreign currency fluctuations (2,294 ) Changes in fair value reflected in Selling, general, and administrative expenses (640 ) Contingent consideration at June 30, 2015 $ 26,890 Fair Value of Debt : At June 30, 2015 , the fair value of the Company’s debt obligations was estimated, using Level 2 inputs, at $1.67 billion , the same as its carrying amount. At December 31, 2014, the fair value of the Company’s debt obligations was estimated, using Level 2 inputs, at $1.67 billion , as compared to its carrying amount of $1.66 billion . The fair values were estimated using an income approach by applying market interest rates for comparable instruments. The Company has no current plans to retire a significant amount of its debt prior to maturity.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES We file income tax returns in the U.S, in various states and in certain foreign jurisdictions. The Company has recorded accruals to cover uncertain tax positions taken on previously filed tax returns. Such liabilities relate to additional taxes, interest and penalties the Company may be required to pay in various tax jurisdictions. During the course of examinations by various taxing authorities, proposed adjustments may be asserted. The Company evaluates such items on a case-by-case basis and adjusts the accrual for uncertain tax positions. During the quarter ended June 30, 2015 , we had no material changes to our accruals related to previous or current uncertain tax positions. The effective tax rates for the quarters ended June 30, 2015 and 2014 were approximately 33.6% and 35.7% , respectively. The decrease in the current quarter tax rate is primarily related to a benefit from the recognition of tax deductible goodwill associated with legal entity mergers in Chile.

STOCK BASED COMPENSATION

STOCK BASED COMPENSATION	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK BASED COMPENSATION	STOCK BASED COMPENSATION At June 30, 2015 , we had the following stock option and stock purchase plans: • the 2014 Incentive Stock Plan, which our stockholders approved in May 2014; • the 2011 Incentive Stock Plan, which our stockholders approved in May 2011; • the 2008 Incentive Stock Plan, which our stockholders approved in May 2008; • the 2005 Incentive Stock Plan, which our stockholders approved in April 2005; • the 2000 Nonstatutory Stock Option Plan, which expired in February 2010; • the 1997 Stock Option Plan, which expired in January 2007; • the 1996 Directors Stock Option Plan, which expired in May 2006; and • the Employee Stock Purchase Plan ("ESPP"), which our stockholders approved in May 2001. Stock-Based Compensation Expense: The following table presents the total stock-based compensation expense resulting from stock option awards, restricted stock units ("RSUs"), and the ESPP included in the Condensed Consolidated Statements of Income: In thousands Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Cost of revenues – stock option plan $ 22 $ 21 $ 45 $ 28 Selling, general and administrative – stock option plan 4,650 3,818 9,379 7,859 Selling, general and administrative – RSUs 375 314 721 629 Selling, general and administrative – ESPP 370 299 759 608 Total pre-tax expense $ 5,417 $ 4,452 $ 10,904 $ 9,124 The following table sets forth the tax benefits related to stock compensation: In thousands Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Tax benefit recognized in Statement of Income $ 1,134 $ 1,020 $ 3,602 $ 1,929 Excess tax benefit of stock options exercised 2,677 3,346 10,899 7,080 Stock Options: Stock option activity for the six months ended June 30, 2015 , is summarized as follows: Number of Weighted Weighted Average Remaining Contractual Life Total Aggregate Intrinsic Value (in years) (in thousands) Outstanding at beginning of year 5,377,857 $ 80.88 Granted 935,276 130.97 Exercised (583,441 ) 67.31 Forfeited (99,046 ) 107.59 Canceled or expired (1,228 ) 107.03 Outstanding at June 30, 2015 5,629,418 $ 90.15 6.07 $ 246,741 Exercisable at June 30, 2015 3,035,083 $ 72.39 5.17 $ 186,748 Vested and expected to vest at June 30, 2015 5,374,237 $ 88.93 As of June 30, 2015 , there was $43.5 million of total unrecognized compensation expense related to non-vested option awards, which is expected to be recognized over a weighted average period of 3.26 years . The following table sets forth the total intrinsic value of options exercised: In thousands Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Total intrinsic value of options exercised $ 10,125 $ 14,721 $ 39,650 $ 26,517 The total intrinsic value of options exercised represents the total pre-tax value (the difference between the sales price on that trading day the option was exercised and the exercise price associated with the respective option). The Company uses historical data to estimate expected life and volatility. The estimated fair value of stock options at the time of the grant using the Black-Scholes option pricing model was as follows: Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Stock options granted (shares) 74,742 108,705 935,276 963,483 Weighted average fair value at grant date (per share) $ 22.18 $ 21.40 $ 22.80 $ 21.30 Assumptions: Expected term (in years) 4.79 4.69 4.79 4.74 Expected volatility 15.98 % 17.52 % 16.58 % 17.60 % Expected dividend yield — % — % — % — % Risk free interest rate 1.43 % 1.53 % 1.44 % 1.49 % Restricted Stock Units: Restricted stock units ("RSUs") vest at the end of three or five years. Our 2008, 2011 and 2014 Plans include a share reserve related to RSUs granted at a 2 -1 ratio. A summary of the status of our non-vested RSUs and changes during the six months ended June 30, 2015 , are as follows: Number of Weighted Average Grant Date Fair Value Total Aggregate Intrinsic Value (in thousands) Non-vested at beginning of year 63,600 $ 96.04 Granted 10,124 130.19 Vested and released — — Forfeited (3,537 ) 101.56 Non-vested at June 30, 2015 70,187 $ 100.69 $ 9,399 As of June 30, 2015 , there was $4.6 million of total unrecognized compensation expense related to RSUs, which is expected to be recognized over a weighted average period of 2.67 years .

COMMON STOCK

COMMON STOCK	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
COMMON STOCK	COMMON STOCK The following table provides information about our repurchase of shares of our common stock during the six months ended June 30, 2015 : Number of Amount for Average (in thousands) Three months ended March 31, 2015 100,713 $ 13,771 $ 136.74 Three months ended June 30, 2015 574,807 77,390 134.64 Six months ended June 30, 2015 675,520 $ 91,161 $ 134.95 Three months ended March 31, 2014 685,990 $ 78,340 $ 114.20 Three months ended June 30, 2014 527,243 58,846 111.61 Six months ended June 30, 2014 1,213,233 $ 137,186 $ 113.08 Of the 574,807 shares repurchased during the three months ended June 30, 2015 , 44,850 shares for approximately $6.0 million were not settled. This amount is reflected in accrued liabilities on our Condensed Consolidated Balance Sheet at June 30, 2015 .

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
EARNINGS PER COMMON SHARE	EARNINGS PER COMMON SHARE Basic earnings per share is computed by dividing income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share is computed by dividing income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period increased to include the number of additional shares of common stock that would have been outstanding if the potentially dilutive securities had been issued. Potentially dilutive securities include outstanding stock options, shares to be purchased under the Company’s employee stock purchase plan and RSUs. The effect of potentially dilutive securities is reflected in diluted earnings per share by application of the treasury stock method. Under the treasury stock method, an increase in the fair market value of the Company’s common stock can result in a greater dilutive effect from potentially dilutive securities. The following table sets forth the computation of basic and diluted earnings per share: In thousands, except share and per share data Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Numerator: Numerator for basic earnings per share net income attributable to Stericycle, Inc. $ 60,449 $ 81,936 $ 135,907 $ 161,085 Denominator: Denominator for basic earnings per share-weighted average shares 84,961,907 84,699,043 85,000,723 84,982,966 Effect of diluted securities: Employee stock options 1,259,127 1,283,545 1,292,093 1,317,326 Denominator for diluted earnings per share-adjusted weighted average shares and after assumed exercises 86,221,034 85,982,588 86,292,816 86,300,292 Earnings per share – Basic $ 0.71 $ 0.97 $ 1.60 $ 1.90 Earnings per share – Diluted $ 0.70 $ 0.95 $ 1.57 $ 1.87 For additional information regarding outstanding employee stock options, see Note 6 - Stock Based Compensation.

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	6 Months Ended
	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill and other identifiable indefinite lived intangibles are not amortized, but are subject to an annual impairment test, or more frequent testing if circumstances indicate that they may be impaired. Goodwill: We have two geographical reportable segments, "United States" and "International", both of which have goodwill. We have retroactively reclassified $6.4 million of goodwill related to Puerto Rico from the United States segment to the International segment. The changes in the carrying amount of goodwill since January 1, 2014, by reportable segment, were as follows: In thousands United States International Total Balance as of January 1, 2014 $ 1,671,723 $ 559,859 $ 2,231,582 Goodwill acquired during year 169,754 88,263 258,017 Purchase accounting allocation adjustments (4,825 ) (17,595 ) (22,420 ) Changes due to foreign currency fluctuations (2,337 ) (46,010 ) (48,347 ) Balance as of December 31, 2014 1,834,315 584,517 2,418,832 Goodwill acquired during year 33,369 24,442 57,811 Purchase accounting allocation adjustments (956 ) (400 ) (1,356 ) Goodwill other changes — (440 ) (440 ) Changes due to foreign currency fluctuations (1,913 ) (18,842 ) (20,755 ) Balance as of June 30, 2015 $ 1,864,815 $ 589,277 $ 2,454,092 Current year adjustments to goodwill for certain 2014 acquisitions are primarily due to the finalization of intangible asset valuations. During the quarter ended June 30, 2015, we performed our annual goodwill impairment evaluation for our three reporting units: Domestic Regulated and Compliance Services, Domestic Regulated Recall and Returns Management Services, and International Regulated and Compliance Services. We calculated fair value for our reporting units using an income method and validated those results using a market approach. Both the income and market approaches indicated no impairment to goodwill to any of our three reporting units. Income Approach: The income approach uses expected future cash flows of each reporting unit and discounts those cash flows to present values. Expected future cash flows are calculated using management assumptions of internal growth, capital expenditures, and cost efficiencies. Future acquisitions are not included in the expected future cash flows. We use a discount rate based on our Company calculated weighted average cost of capital which is adjusted for each of our reporting units based on size risk premium and country risk premium. Significant assumptions used in the income approach include realization of future cash flows and the discount rate used to present value those cash flows. The results of our goodwill impairment test using the income approach indicated the fair value of our Domestic Regulated and Compliance Services and Recall and Returns Management Services reporting units exceeded book value by a substantial amount; in excess of 100% . Our International Regulated and Compliance Services reporting units' fair value exceeded book value by approximately 88% and had $589.3 million in assigned goodwill at June 30, 2015. Market Approach: Our market approach begins by calculating the market capitalization of the Company using the average stock price for the prior twelve months and the outstanding share count at June 30, 2015. We then look at the Company's Earnings Before Interest, Tax, Depreciation, and Amortization ("EBITDA"), adjusted for stock compensation expense and other items, such as changes in the fair value of contingent consideration, restructuring and plant conversion expenses, and litigation settlement, for the prior twelve months. The calculated market capitalization is divided by the modified EBITDA to arrive at a valuation multiple. The fair value of each reporting unit is then calculated by taking the product of the valuation multiple and the trailing twelve months' modified EBITDA of that reporting unit. The fair value was then compared to the reporting units' book value and determined to be in excess of the book value. We believe that starting with the fair value of the company as a whole is a reasonable measure as that fair value is then allocated to each reporting unit based on that reporting unit's individual earnings. A sustained drop in our stock price would have a negative impact to our fair value calculations. A temporary drop in earnings of a reporting unit would have a negative impact to our fair value calculations. The results of our goodwill impairment test using the market approach corroborated the results of the impairment test under the income approach and indicated the fair value of our reporting units exceeded their respective book values by substantial amounts. Other Intangible Assets: As of June 30, 2015 and December 31, 2014 , the values of other intangible assets were as follows: In thousands June 30, 2015 December 31, 2014 Gross Accumulated Net Gross Accumulated Net Amortizable intangibles: Covenants not-to-compete $ 8,468 $ 6,258 $ 2,210 $ 8,474 $ 5,688 $ 2,786 Customer relationships 775,526 122,047 653,479 755,148 107,365 647,783 Tradenames 4,343 951 3,392 6,062 1,313 4,749 Technology 611 573 38 611 521 90 Other 532 52 480 539 35 504 Indefinite lived intangibles: Operating permits 242,777 — 242,777 247,933 — 247,933 Tradenames 5,800 — 5,800 5,800 — 5,800 Total $ 1,038,057 $ 129,881 $ 908,176 $ 1,024,567 $ 114,922 $ 909,645 $908.2 million total intangible assets, less accumulated amortization balance at June 30, 2015 was negatively impacted by $22.7 million from changes due to foreign currency fluctuations. $909.6 million total intangible assets, less accumulated amortization balance at December 31, 2014 was negatively impacted by $44.9 million from changes due to foreign currency fluctuations. During the quarter ended March 31, 2015 we wrote off $0.2 million in customer relationships, $1.2 million in operating permits, and $1.0 million in tradenames, due to rationalizing certain of our domestic and international operations (see Note 13 - Restructuring Charges). These expenses are reflected as part of SG&A on our Condensed Consolidated Statements of Income. Under generally accepted accounting principles, a fair value must be assigned to all acquired assets based on a theoretical "market participant" regardless of the acquirer's intended use for those assets. This accounting treatment can lead to the recognition of losses when a company disposes of acquired assets. We complete our annual impairment analysis of our indefinite lived intangibles during the quarter ended December 31 of each year, or more frequently, if circumstances indicate that they may be impaired. Our finite-lived intangible assets are amortized over their useful lives. We have determined that our customer relationships have useful lives from 10 to 40 years based upon the type of customer, with a weighted average remaining useful life of 23.3 years. We have covenants not-to-compete intangibles with useful lives from 3 to 14 years, with a weighted average remaining useful life of 4.2 years. We have tradename intangibles with useful lives from 10 to 40 years, with a weighted average remaining useful life of 6.3 years. We have determined that our permits have indefinite lives due to our ability to renew these permits with minimal additional cost, and therefore these are not amortized. During the quarters ended June 30, 2015 and 2014 , the aggregate amortization expense was $8.9 million and $8.4 million , respectively. For the six months ended June 30, 2015 and 2014 , the aggregate amortization expense was $17.7 million and $15.7 million , respectively. The estimated amortization expense for each of the next five years, assuming no additional amortizable intangible assets, is as follows for the years ended December 31: In thousands 2015 $ 34,854 2016 35,146 2017 35,020 2018 34,981 2019 34,960 Future amortization expense may fluctuate depending on changes in foreign currency rates, future acquisitions, or changes to the estimated amortizable life of the intangibles. The estimates for amortization expense noted above are based upon foreign exchange rates as of June 30, 2015 .

DEBT

DEBT	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
DEBT	DEBT Long-term debt consisted of the following: In thousands June 30, December 31, Obligations under capital leases $ 7,274 $ 9,185 $1.2 billion senior credit facility weighted average rate 1.47%, due in 2019 362,590 459,975 $250 million term loan 0.97%, due in 2015 250,000 — $100 million private placement notes 5.64%, due in 2015 — 100,000 $175 million private placement notes 3.89%, due in 2017 175,000 175,000 $125 million private placement notes 2.68%, due in 2019 125,000 125,000 $225 million private placement notes 4.47%, due in 2020 225,000 225,000 $125 million private placement notes 3.26%, due in 2022 125,000 125,000 Promissory notes and deferred consideration weighted average rate of 3.80% and weighted average maturity of 3.4 years 273,982 279,590 Foreign bank debt weighted average rate 8.86% and weighted average maturity of 1.6 years 124,160 160,465 Total debt 1,668,006 1,659,215 Less: current portion of total debt 129,270 131,969 Long-term portion of total debt $ 1,538,736 $ 1,527,246 Our $1.2 billion senior credit facility maturing in June 2019, our $250.0 million term loan maturing in July 2015, our $175.0 million private placement notes maturing in October 2017, our $125.0 million private placement notes maturing in December 2019, our $225.0 million private placement notes maturing in October 2020, and our $125.0 million private placement notes maturing in December 2022, all require us to comply with various financial, reporting and other covenants and restrictions, including a restriction on dividend payments. The financial debt covenants are the same for the senior credit facility and the private placement notes. At June 30, 2015 , we were in compliance with all of our financial debt covenants. As of June 30, 2015 and December 31, 2014, we had $152.2 million and $162.9 million , respectively, committed to outstanding letters of credit under our senior credit facility. The unused portion of the revolving credit facility as of June 30, 2015 and December 31, 2014 was $685.2 million and $577.1 million , respectively. Our $ 250.0 million term loan that matured on July 1, 2015 was classified as long-term debt and was refinanced by using our long-term senior credit facility. We repaid our $100.0 million private placement notes that matured in April 2015 by borrowing from our long-term senior credit facility. On April 30, 2015, we entered into a note purchase agreement with several institutional purchasers pursuant to which we have issued and sold to the purchasers $200.0 million of our new seven -year 2.72% unsecured senior notes (the "Series A notes") and $100.0 million of our new eight -year 2.79% unsecured senior notes (the "Series B notes"). Closing of the issuance and sale of the notes occurred on July 31, 2015. The Series A notes bear interest at the fixed rate of 2.72% per annum, and the Series B notes bear interest at the fixed rate of 2.79% per annum. Interest will be payable in arrears semi-annually on January 31 and July 31, beginning on January 31, 2016. The principal of the Series A notes will be payable at the maturity of the notes on July 31, 2022, and the principal of the Series B notes will be payable at the maturity of the notes on July 31, 2023. The notes are unsecured obligations.

ENVIRONMENTAL LIABILITIES

ENVIRONMENTAL LIABILITIES	6 Months Ended
	Jun. 30, 2015
Environmental Remediation Obligations [Abstract]
ENVIRONMENTAL LIABILITIES	ENVIRONMENTAL REMEDIATION LIABILITIES We record a liability for environmental remediation when such liability becomes probable and the costs or damages can be reasonably estimated. We accrue environmental remediation costs, on an undiscounted basis, associated with identified sites where an assessment has indicated that cleanup costs are probable and can be reasonably estimated, but the timing of such payments is not fixed and determinable. Such accruals are based on currently available information, estimated timing of remedial actions, existing technology, and enacted laws and regulations. The liability for environmental remediation is included in the Condensed Consolidated Balance Sheets in current liabilities within "Accrued liabilities" and in non-current liabilities within "Other liabilities." At June 30, 2015 , the total environmental remediation liabilities recorded were $32.3 million , of which $3.1 million was classified as accrued liabilities and $29.2 million was classified as other liabilities.

GEOGRAPHIC INFORMATION

GEOGRAPHIC INFORMATION	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
GEOGRAPHIC INFORMATION	GEOGRAPHIC INFORMATION Management has determined that we have two reportable segments: United States and International. Revenues are attributed to countries based on the location of customers. The same accounting principles and critical accounting policies are used in the preparation of the financial statements for both reportable segments. We have retroactively reclassified immaterial amounts related to Puerto Rico from the United States segment to the International segment. Detailed information for our United States reportable segment is as follows: In thousands Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Regulated and compliance solutions revenues $ 489,904 $ 427,576 $ 942,173 $ 794,275 Recall and returns solutions revenues 28,278 24,721 48,257 47,785 Total revenues 518,182 452,297 990,430 842,060 Net interest expense 10,299 11,620 21,144 22,266 Income before income taxes 79,915 113,148 182,805 217,640 Income taxes 30,591 43,620 68,471 80,659 Net income attributable to Stericycle, Inc. $ 49,324 $ 69,528 $ 114,334 $ 136,981 Depreciation and amortization $ 16,355 $ 15,835 $ 32,495 $ 28,532 Detailed information for our International reportable segment is as follows: In thousands Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Regulated and compliance solutions revenues $ 197,507 $ 188,525 $ 388,578 $ 368,717 Net interest expense 6,091 4,748 13,844 9,000 Income before income taxes 11,855 15,470 16,822 28,039 Income taxes 283 2,321 (5,550 ) 2,573 Net income 11,572 13,149 22,372 25,466 Less: net income attributable to noncontrolling interests 447 741 799 1,362 Net income attributable to Stericycle, Inc. $ 11,125 $ 12,408 $ 21,573 $ 24,104 Depreciation and amortization $ 11,025 $ 11,646 $ 22,448 $ 22,305

RESTRUCTURING CHARGES

RESTRUCTURING CHARGES	6 Months Ended
	Jun. 30, 2015
Restructuring and Related Activities [Abstract]
RESTRUCTURING CHARGES	RESTRUCTURING CHARGES During the first quarter of 2015, management began executing a realignment of our operations to reduce labor redundancies and facility costs. As part of this realignment, the Company recorded charges related to severance, fixed asset impairments, write-off of intangible assets, and recognition of lease expense for properties no longer used but for which we have a contractual obligation. The recorded restructuring liabilities are expected to be paid primarily within the current year. While the Company believes the recorded restructuring liabilities are adequate, revisions to current estimates may be recorded in future periods based on new information as it becomes available. There could be additional initiatives in the future to further streamline our operations. As such, the Company expects further expenses related to workforce reductions and other facility rationalization costs when those restructuring plans are finalized and related expenses are estimable. The following table below highlights $2.0 million and $14.3 million of pre-tax restructuring charges by reporting segment for the three- and six-months ended June 30, 2015 , respectively, which are reflected as part of SG&A on our Condensed Consolidated Statements of Income. In thousands Three Months Ended June 30, 2015 Six Months Ended June 30, 2015 United States International Total Charges to Income United States International Total Charges to Income Employee severance and related costs $ 666 $ 871 $ 1,537 $ 2,402 $ 3,100 $ 5,502 Other costs 332 170 502 1,790 874 2,664 Non-cash items: Fixed assets impairment — — — 3,133 — 3,133 Intangible assets impairment — — — 2,167 247 2,414 Other — — — — 628 628 Total pre-tax restructuring expenses $ 998 $ 1,041 $ 2,039 $ 9,492 $ 4,849 $ 14,341 The following table summarizes restructuring activity during 2015 which is reflected in the Condensed Consolidated Balance Sheets as part of "Accrued liabilities": In thousands Employee Severance and Related Costs Other Costs Total Liability balance at January 1, 2015 $ — $ — $ — Charges to income 5,502 2,664 8,166 Payments (3,875 ) (1,287 ) (5,162 ) Other 11 — 11 Liability balance at June 30, 2015 $ 1,638 $ 1,377 $ 3,015

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
LEGAL PROCEEDINGS	LEGAL PROCEEDINGS We operate in a highly regulated industry and must deal with regulatory inquiries or investigations from time to time that may be instituted for a variety of reasons. We are also involved in a variety of civil litigation from time to time. Class Action Lawsuits . As we have previously disclosed, we were served on March 12, 2013 with a class action complaint filed in the U.S. District Court for the Western District of Pennsylvania by an individual plaintiff for itself and on behalf of all other “similarly situated” customers of ours. The complaint alleges, among other things, that we imposed unauthorized or excessive price increases and other charges on our customers in breach of our contracts and in violation of the Illinois Consumer Fraud and Deceptive Business Practices Act. The complaint sought certification of the lawsuit as a class action and the award to class members of appropriate damages and injunctive relief. The Pennsylvania class action complaint was filed in the wake of a settlement with the State of New York of an investigation under the New York False Claims Act (which the class action complaint describes at some length). The New York investigation arose out of a qui tam (or “whistle blower”) complaint under the federal False Claims Act and comparable state statutes which was filed under seal in the U.S. District Court for the Northern District of Illinois in April 2008 by a former employee of ours. The qui tam complaint was filed on behalf of the United States and 14 states and the District of Columbia. On September 4, 2013, we filed our answer to Plaintiff-Relator’s Second Amended Complaint, generally denying the allegations therein. Also, as previously disclosed, Tennessee, Massachusetts, Virginia and North Carolina have issued civil investigative demands to explore the allegations made on their behalf in the qui tam complaint but have not yet decided whether to join the Illinois action. The qui tam case is in the discovery stage. Following the filing of the Pennsylvania class action complaint, we were served with class action complaints filed in federal court in California, Florida, Illinois, Mississippi and Utah and in state court in California. These complaints asserted claims and allegations substantially similar to those made in the Pennsylvania class action complaint. All of these cases appear to be follow-on litigation to our settlement with the State of New York. On August 9, 2013, the Judicial Panel on Multidistrict Litigation (MDL) granted our Motion to Transfer these related actions to the Northern District of Illinois for centralized pretrial proceedings. On December 10, 2013, we filed our answer to the Amended Consolidated Class Action Complaint in the MDL action, generally denying the allegations therein. The MDL action is in the discovery stage. We believe that we have operated in accordance with the terms of our customer contracts and that these complaints are without merit. We intend to vigorously defend ourselves against each of these lawsuits. We have not accrued any amounts in respect of these lawsuits, and we cannot estimate the reasonably possible loss or the range of reasonably possible losses that we may incur. We are unable to make such an estimate because (i) litigation is by its nature uncertain and unpredictable, (ii) the proceedings are at an early stage and (iii) in our judgment, there are no comparable proceedings against other defendants that might provide guidance in making estimates. Utah Proceedings . As previously disclosed, on December 3, 2014, we entered into an administrative settlement order (the “DAQ Settlement”) with the State of Utah Division of Air Quality (the “DAQ”) concerning a notice of violation and order to comply issued by the DAQ on May 28, 2013 and superseded by an amended notice of violation and order to comply issued on August 28, 2013 (the “DAQ NOV”). Under the DAQ Settlement, without admitting to any of the allegations contained in the DAQ NOV, we agreed to pay a civil penalty of $2.3 million , of which half, or $1.2 million , was paid within 30 days after December 3, 2014. The remaining $1.2 million will not be paid but instead will be credited to us as a Supplemental Environmental Project credit when we permanently close our North Salt Lake incineration facility which is required to occur no later than three years after we receive all permits and approvals necessary to commence construction of a new incineration facility to be located in Tooele County, Utah. The DAQ Settlement provides full and final resolution of any and all claims under the authority of the DAQ arising out of the allegations contained in the DAQ NOV and cannot be used by other parties to allege violations or negligence on our part in any other litigation or proceeding. J unk Fax Lawsuit . As previously disclosed, on May 20, 2015, we entered into a settlement agreement to resolve all claims made against us and certain of our subsidiaries in Sawyer v. Stericycle, et al., Case No. 2015 CH 07190 (the “TCPA Action”), a class action complaint pending in the Circuit Court of Cook County, Illinois (the “Court”). The TCPA Action is the successor lawsuit to the class action complaint filed in the U.S. District Court for the Northern District of Illinois (Case 1:14-cv-02070) that we have previously disclosed and that was dismissed pursuant to the parties’ joint stipulation of dismissal. The TCPA Action alleges that from 2010 to 2014 we violated the Telephone Consumer Protection Act of 1991, as amended by the Junk Fax Prevention Act of 2005, by sending facsimile advertisements to plaintiffs or putative class members that either were unsolicited and/or did not contain a valid opt-out notice. We have denied all liability for the claims made in the TCPA Action but have agreed to settle to avoid the expense, burden and inherent risk and uncertainty of litigation. Under the terms of the settlement agreement entered into with the two class representatives, we agreed to make available a fund of $45.0 million (the “Settlement Fund”) to pay class members who submit a valid claim form within a 90 -day period, to pay an incentive award to each of the class representatives, to pay fees and expenses to plaintiffs’ attorneys, and to pay fees and costs of a third-party settlement administrator (the “TCPA Settlement”). The plaintiffs’ attorneys are seeking fees of one-third of the Settlement Fund, plus out-of-pocket expenses, to be paid from the Settlement Fund. As part of the TCPA Settlement, we do not admit to any of the allegations in the TCPA Action and will be completely released from any claims related to faxes sent by us or on our behalf from March 25, 2010 through April 30, 2015. The Settlement has been preliminarily approved by the Court and is awaiting final approval. In view of the TCPA Settlement, we have recorded an accrual of $45.0 million in accrued liabilities on our Condensed Consolidated Balance Sheet and a pre-tax charge of $45.0 million in "Selling, general and administrative expenses" on our Condensed Consolidated Statement of Income for the three- and six-months ending June 30, 2015. We anticipate making payments from the Settlement Fund as described above sometime during the fourth quarter of 2015. We review all of our outstanding legal proceedings with counsel quarterly, and we will disclose an estimate of any reasonably possible loss or range of reasonably possible losses if and when we are able to make such an estimate and the reasonably possible loss or range of reasonably possible losses is material to our financial statements. Environmental Matters. On April 22, 2014, we completed our acquisition of PSC Environmental Services, LLC (“PSC Environmental”) and consequently became subject to the legal proceedings in which PSC Environmental was a party on that date. PSC Environmental’s operations are regulated by federal, state and local laws enacted to regulate the discharge of materials into the environment, remediate contaminated soil and groundwater or otherwise protect the environment. As a result of this continuing regulation, PSC Environmental frequently becomes a party to legal or administrative proceedings involving various governmental authorities and other interested parties. The issues involved in these proceedings generally relate to alleged violations of existing permits and licenses or alleged responsibility under federal or state Superfund laws to remediate contamination at properties owned either by PSC Environmental or by other parties to which either PSC Environmental or the prior owners of certain of its facilities shipped waste. From time to time, PSC Environmental pays fines or penalties in regulatory proceedings relating primarily to waste treatment, storage or disposal facilities. We believe that the fines or other penalties that PSC Environmental may pay in connection with any pending regulatory proceedings of this nature will not, individually or in the aggregate, be material to our financial statements. On September 18, 2014, our wholly-owned subsidiary, Stericycle Specialty Waste Solutions, Inc., received a notice of violation (“NMED NOV”) from the New Mexico Environment Department (“NMED”) concerning our 10-day transfer facility in Albuquerque. The violations alleged in the NMED NOV generally relate to the management of Conditionally Exempt Small Quantity Generator (“CESQG”) waste under a CESQG agreement that we have with NMED, as well as some recordkeeping matters. On April 21, 2015, we entered into a Stipulated Final Order (the “Order”) with NMED to settle and completely resolve the violations alleged in the NMED NOV. Under the Order, without admitting to any of the violations alleged in the NMED NOV, we agreed to pay a civil penalty in the amount of $120.8 thousand . NMED in turn agreed not to sue or to take any administrative or civil action against us under the New Mexico Hazardous Waste Act, Hazardous Waste Management Regulations or the CESQG agreement for any of the facts or violations alleged in the NMED NOV or the Order.

SUBSEQUENT EVENT

SUBSEQUENT EVENT	6 Months Ended
	Jun. 30, 2015
Subsequent Events [Abstract]
SUBSEQUENT EVENT	SUBSEQUENT EVENT The Company evaluated subsequent events through the date of filing this Quarterly Report on Form 10-Q. As previously disclosed in our current report on Form 8-K filed on July 21, 2015, we entered into a Securities Purchase Agreement (the “Securities Purchase Agreement”) on July 15, 2015 with the equity holders (the “Vendors”) of Shred-it International ULC, an Alberta unlimited liability corporation (“SII”), Shred-it JV LP, an Ontario limited partnership (“Shred-it”), Boost GP Corp., an Ontario corporation (“Boost GP”) and Boost Holdings LP, an Ontario limited partnership (“Boost Holdings,” and together with SII, Shred-it and Boost GP, the “Target Companies”), providing for the acquisition of the Target Companies by us and certain of our subsidiaries at an aggregate purchase price of $2.3 billion , plus the total enterprise value of franchises acquired by Shred-it after July 15, 2015 and prior to closing as permitted by the Securities Purchase Agreement. The Vendors include CC Shredding Holdco LLC, a Delaware limited liability company, CC Dutch Shredding Holdco BV, a Netherlands company, Birch Hill Equity Partners Management Inc., an Ontario corporation, in its own capacity and in its capacity as the Vendors’ Representative, Shred-it International Inc., an Ontario corporation, and certain funds, co-investors, management shareholders and option participants set forth in the Securities Purchase Agreement.

NEW ACCOUNTING STANDARDS (Polic

NEW ACCOUNTING STANDARDS (Policies)	6 Months Ended
	Jun. 30, 2015
Accounting Changes and Error Corrections [Abstract]
New Accounting Standards	Accounting Standards Recently Adopted Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity On January 1, 2015, we adopted guidance on the presentation and disclosures of reporting discontinued operations. The new guidance defines a discontinued operation as a disposal of a component or group of components that is disposed of or is classified as held for sale and "represents a strategic shift that has (or will have) a major effect on an entity's operations and financial results." For disposals of individually significant components that do not qualify as discontinued operations, an entity must disclose pre-tax earnings of the disposed component. The Company has not disposed of a component of our entity and therefore the implementation of this guidance did not affect our financial position, results of operations, or disclosure requirements. Accounting Standards Issued But Not Yet Adopted Revenue From Contracts With Customers In May 2014, the Financial Accounting Standards Board (the "FASB") issued guidance to provide a single, comprehensive revenue recognition model for all contracts with customers. The revenue guidance contains principles that an entity will apply to determine the measurement of revenue and timing of when it is recognized. The underlying principle is that an entity will recognize revenue to depict the transfer of goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods or services. The amended authoritative guidance associated with revenue recognition is effective for the Company on January 1, 2018. The amended guidance may be applied retrospectively for all periods presented or retrospectively with the cumulative effect of initially applying the amended guidance recognized at the date of initial application. We are in the process of assessing the provisions of the amended guidance and have not determined whether the adoption will have a material impact on our consolidated financial statements. Accounting for Share-Based Payment When the Terms of an Award Provide That a Performance Target Could Be Achieved After the Requisite Service Period In June 2014, the FASB issued guidance that applies to all reporting entities that grant their employees share-based payments in which the terms of the award provide that a performance target that affects vesting could be achieved after the requisite service period. It requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition and follows existing accounting guidance for the treatment of performance conditions. The standard will be effective for annual periods and interim periods within those annual periods beginning after December 15, 2015, with early adoption permitted. The Company does not have any share-based payments with a performance target and therefore does not expect the adoption of this guidance to have any impact on the Company’s financial position or results of operations. Interest-Imputation of Interest In April 2015, the FASB issued guidance that requires debt issuance costs related to a recognized debt liability to be presented in the balance sheet as a direct deduction from the debt liability rather than as an asset. The recognition and measurement guidance for debt issuance costs are not affected by the accounting standard update. The standard will be effective for annual periods and interim periods within those annual periods beginning after December 15, 2015, with early adoption permitted. The revised standard will be adopted by the Company on January 1, 2016, will be applied retrospectively and will require reclassifications within the Company’s consolidated balance sheets and statements of cash flows. The revised standard only affects presentation and therefore will not have an impact on the Company’s results of operations.

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	6 Months Ended
	Jun. 30, 2015
Business Combinations [Abstract]
Summary of Location of Acquisitions	The following table summarizes the locations of our acquisitions for the six months ended June 30, 2015 : Acquisition Locations 2015 United States 10 Brazil 2 Canada 1 Ireland 1 Mexico 2 Netherlands 1 Romania 2 Republic of Korea 3 Spain 1 Total 23
Aggregate Purchase Price Paid for Acquisitions and Other Adjustments to Consideration	The following table summarizes the aggregate purchase price paid for acquisitions and other adjustments of consideration to be paid for acquisitions during the six months ended June 30 : In thousands Six Months Ended June 30, 2015 2014 Cash $ 61,766 $ 304,832 Promissory notes 35,986 63,022 Deferred consideration 974 5,032 Contingent consideration 10,867 15,810 Total purchase price $ 109,593 $ 388,696
Preliminary Purchase Price Allocation for Current Period Acquisitions and Other Adjustments to Purchase Price Allocations	The following table summarizes the preliminary purchase price allocation for current period acquisitions and other adjustments to purchase price allocations during the six months ended June 30 : In thousands Six Months Ended June 30, 2015 2014 Fixed assets $ 12,221 $ 102,394 Intangibles 41,327 219,876 Goodwill 56,455 178,433 Accounts receivable 21,167 54,201 Accounts payable (10,010 ) (25,967 ) Net other liabilities (10,279 ) (57,027 ) Debt — (17,219 ) Net deferred tax liabilities (1,288 ) (59,052 ) Noncontrolling interests — (6,943 ) Total purchase price allocation $ 109,593 $ 388,696

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	In thousands Fair Value Measurements Using Total as of Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 32,956 $ 32,956 $ — $ — Short-term investments 103 103 — — Derivative financial instruments 693 — 693 — Total assets $ 33,752 $ 33,059 $ 693 $ — Liabilities: Contingent consideration $ 26,890 $ — $ — $ 26,890 Total liabilities $ 26,890 $ — $ — $ 26,890 In thousands Fair Value Measurements Using Total as of Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 22,236 $ 22,236 $ — $ — Short-term investments 380 380 — — Derivative financial instruments 515 — 515 — Total assets $ 23,131 $ 22,616 $ 515 $ — Liabilities: Contingent consideration $ 19,941 $ — $ — $ 19,941 Derivative financial instruments 2,408 — 2,408 — Total liabilities $ 22,349 $ — $ 2,408 $ 19,941
Changes to Contingent Consideration	Changes to contingent consideration are reflected in the table below: In thousands Contingent consideration at December 31, 2014 $ 19,941 Increases due to acquisitions 10,867 Decrease due to payments (984 ) Changes due to foreign currency fluctuations (2,294 ) Changes in fair value reflected in Selling, general, and administrative expenses (640 ) Contingent consideration at June 30, 2015 $ 26,890

STOCK BASED COMPENSATION (Table

STOCK BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation Expense Resulting from Stock Option Awards, Restricted stock units ("RSU") and ESPP	The following table presents the total stock-based compensation expense resulting from stock option awards, restricted stock units ("RSUs"), and the ESPP included in the Condensed Consolidated Statements of Income: In thousands Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Cost of revenues – stock option plan $ 22 $ 21 $ 45 $ 28 Selling, general and administrative – stock option plan 4,650 3,818 9,379 7,859 Selling, general and administrative – RSUs 375 314 721 629 Selling, general and administrative – ESPP 370 299 759 608 Total pre-tax expense $ 5,417 $ 4,452 $ 10,904 $ 9,124
Tax Benefits Related to Stock Compensation	The following table sets forth the tax benefits related to stock compensation: In thousands Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Tax benefit recognized in Statement of Income $ 1,134 $ 1,020 $ 3,602 $ 1,929 Excess tax benefit of stock options exercised 2,677 3,346 10,899 7,080
Stock Option Activity	Stock option activity for the six months ended June 30, 2015 , is summarized as follows: Number of Weighted Weighted Average Remaining Contractual Life Total Aggregate Intrinsic Value (in years) (in thousands) Outstanding at beginning of year 5,377,857 $ 80.88 Granted 935,276 130.97 Exercised (583,441 ) 67.31 Forfeited (99,046 ) 107.59 Canceled or expired (1,228 ) 107.03 Outstanding at June 30, 2015 5,629,418 $ 90.15 6.07 $ 246,741 Exercisable at June 30, 2015 3,035,083 $ 72.39 5.17 $ 186,748 Vested and expected to vest at June 30, 2015 5,374,237 $ 88.93
Intrinsic Value of Options Exercised	The following table sets forth the total intrinsic value of options exercised: In thousands Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Total intrinsic value of options exercised $ 10,125 $ 14,721 $ 39,650 $ 26,517
Assumptions used in Black-Scholes Model	The estimated fair value of stock options at the time of the grant using the Black-Scholes option pricing model was as follows: Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Stock options granted (shares) 74,742 108,705 935,276 963,483 Weighted average fair value at grant date (per share) $ 22.18 $ 21.40 $ 22.80 $ 21.30 Assumptions: Expected term (in years) 4.79 4.69 4.79 4.74 Expected volatility 15.98 % 17.52 % 16.58 % 17.60 % Expected dividend yield — % — % — % — % Risk free interest rate 1.43 % 1.53 % 1.44 % 1.49 %
Restricted Stock Units Activity	A summary of the status of our non-vested RSUs and changes during the six months ended June 30, 2015 , are as follows: Number of Weighted Average Grant Date Fair Value Total Aggregate Intrinsic Value (in thousands) Non-vested at beginning of year 63,600 $ 96.04 Granted 10,124 130.19 Vested and released — — Forfeited (3,537 ) 101.56 Non-vested at June 30, 2015 70,187 $ 100.69 $ 9,399

COMMON STOCK (Tables)

COMMON STOCK (Tables)	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Repurchase of Shares of Common Stock	The following table provides information about our repurchase of shares of our common stock during the six months ended June 30, 2015 : Number of Amount for Average (in thousands) Three months ended March 31, 2015 100,713 $ 13,771 $ 136.74 Three months ended June 30, 2015 574,807 77,390 134.64 Six months ended June 30, 2015 675,520 $ 91,161 $ 134.95 Three months ended March 31, 2014 685,990 $ 78,340 $ 114.20 Three months ended June 30, 2014 527,243 58,846 111.61 Six months ended June 30, 2014 1,213,233 $ 137,186 $ 113.08

EARNINGS PER COMMON SHARE (Tabl

EARNINGS PER COMMON SHARE (Tables)	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Common Share	The following table sets forth the computation of basic and diluted earnings per share: In thousands, except share and per share data Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Numerator: Numerator for basic earnings per share net income attributable to Stericycle, Inc. $ 60,449 $ 81,936 $ 135,907 $ 161,085 Denominator: Denominator for basic earnings per share-weighted average shares 84,961,907 84,699,043 85,000,723 84,982,966 Effect of diluted securities: Employee stock options 1,259,127 1,283,545 1,292,093 1,317,326 Denominator for diluted earnings per share-adjusted weighted average shares and after assumed exercises 86,221,034 85,982,588 86,292,816 86,300,292 Earnings per share – Basic $ 0.71 $ 0.97 $ 1.60 $ 1.90 Earnings per share – Diluted $ 0.70 $ 0.95 $ 1.57 $ 1.87

GOODWILL AND OTHER INTANGIBLE30

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in Carrying Amount of Goodwill	The changes in the carrying amount of goodwill since January 1, 2014, by reportable segment, were as follows: In thousands United States International Total Balance as of January 1, 2014 $ 1,671,723 $ 559,859 $ 2,231,582 Goodwill acquired during year 169,754 88,263 258,017 Purchase accounting allocation adjustments (4,825 ) (17,595 ) (22,420 ) Changes due to foreign currency fluctuations (2,337 ) (46,010 ) (48,347 ) Balance as of December 31, 2014 1,834,315 584,517 2,418,832 Goodwill acquired during year 33,369 24,442 57,811 Purchase accounting allocation adjustments (956 ) (400 ) (1,356 ) Goodwill other changes — (440 ) (440 ) Changes due to foreign currency fluctuations (1,913 ) (18,842 ) (20,755 ) Balance as of June 30, 2015 $ 1,864,815 $ 589,277 $ 2,454,092
Values of Intangible Assets	As of June 30, 2015 and December 31, 2014 , the values of other intangible assets were as follows: In thousands June 30, 2015 December 31, 2014 Gross Accumulated Net Gross Accumulated Net Amortizable intangibles: Covenants not-to-compete $ 8,468 $ 6,258 $ 2,210 $ 8,474 $ 5,688 $ 2,786 Customer relationships 775,526 122,047 653,479 755,148 107,365 647,783 Tradenames 4,343 951 3,392 6,062 1,313 4,749 Technology 611 573 38 611 521 90 Other 532 52 480 539 35 504 Indefinite lived intangibles: Operating permits 242,777 — 242,777 247,933 — 247,933 Tradenames 5,800 — 5,800 5,800 — 5,800 Total $ 1,038,057 $ 129,881 $ 908,176 $ 1,024,567 $ 114,922 $ 909,645
Estimated Amortization Expense	The estimated amortization expense for each of the next five years, assuming no additional amortizable intangible assets, is as follows for the years ended December 31: In thousands 2015 $ 34,854 2016 35,146 2017 35,020 2018 34,981 2019 34,960

DEBT (Tables)

DEBT (Tables)	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Long-Term Debt	Long-term debt consisted of the following: In thousands June 30, December 31, Obligations under capital leases $ 7,274 $ 9,185 $1.2 billion senior credit facility weighted average rate 1.47%, due in 2019 362,590 459,975 $250 million term loan 0.97%, due in 2015 250,000 — $100 million private placement notes 5.64%, due in 2015 — 100,000 $175 million private placement notes 3.89%, due in 2017 175,000 175,000 $125 million private placement notes 2.68%, due in 2019 125,000 125,000 $225 million private placement notes 4.47%, due in 2020 225,000 225,000 $125 million private placement notes 3.26%, due in 2022 125,000 125,000 Promissory notes and deferred consideration weighted average rate of 3.80% and weighted average maturity of 3.4 years 273,982 279,590 Foreign bank debt weighted average rate 8.86% and weighted average maturity of 1.6 years 124,160 160,465 Total debt 1,668,006 1,659,215 Less: current portion of total debt 129,270 131,969 Long-term portion of total debt $ 1,538,736 $ 1,527,246

GEOGRAPHIC INFORMATION (Tables)

GEOGRAPHIC INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Detailed Information for Reportable Segment	Detailed information for our United States reportable segment is as follows: In thousands Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Regulated and compliance solutions revenues $ 489,904 $ 427,576 $ 942,173 $ 794,275 Recall and returns solutions revenues 28,278 24,721 48,257 47,785 Total revenues 518,182 452,297 990,430 842,060 Net interest expense 10,299 11,620 21,144 22,266 Income before income taxes 79,915 113,148 182,805 217,640 Income taxes 30,591 43,620 68,471 80,659 Net income attributable to Stericycle, Inc. $ 49,324 $ 69,528 $ 114,334 $ 136,981 Depreciation and amortization $ 16,355 $ 15,835 $ 32,495 $ 28,532 Detailed information for our International reportable segment is as follows: In thousands Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Regulated and compliance solutions revenues $ 197,507 $ 188,525 $ 388,578 $ 368,717 Net interest expense 6,091 4,748 13,844 9,000 Income before income taxes 11,855 15,470 16,822 28,039 Income taxes 283 2,321 (5,550 ) 2,573 Net income 11,572 13,149 22,372 25,466 Less: net income attributable to noncontrolling interests 447 741 799 1,362 Net income attributable to Stericycle, Inc. $ 11,125 $ 12,408 $ 21,573 $ 24,104 Depreciation and amortization $ 11,025 $ 11,646 $ 22,448 $ 22,305

RESTRUCTURING CHARGES (Tables)

RESTRUCTURING CHARGES (Tables)	6 Months Ended
	Jun. 30, 2015
Restructuring and Related Activities [Abstract]
Restructuring Charges	The following table below highlights $2.0 million and $14.3 million of pre-tax restructuring charges by reporting segment for the three- and six-months ended June 30, 2015 , respectively, which are reflected as part of SG&A on our Condensed Consolidated Statements of Income. In thousands Three Months Ended June 30, 2015 Six Months Ended June 30, 2015 United States International Total Charges to Income United States International Total Charges to Income Employee severance and related costs $ 666 $ 871 $ 1,537 $ 2,402 $ 3,100 $ 5,502 Other costs 332 170 502 1,790 874 2,664 Non-cash items: Fixed assets impairment — — — 3,133 — 3,133 Intangible assets impairment — — — 2,167 247 2,414 Other — — — — 628 628 Total pre-tax restructuring expenses $ 998 $ 1,041 $ 2,039 $ 9,492 $ 4,849 $ 14,341
Restructuring Reserve	The following table summarizes restructuring activity during 2015 which is reflected in the Condensed Consolidated Balance Sheets as part of "Accrued liabilities": In thousands Employee Severance and Related Costs Other Costs Total Liability balance at January 1, 2015 $ — $ — $ — Charges to income 5,502 2,664 8,166 Payments (3,875 ) (1,287 ) (5,162 ) Other 11 — 11 Liability balance at June 30, 2015 $ 1,638 $ 1,377 $ 3,015

ACQUISITIONS - Summary of Acqui

ACQUISITIONS - Summary of Acquisition Location (Detail) - Entity	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2015
Business Acquisition [Line Items]
Number of acquisitions	8	15	23
United States
Business Acquisition [Line Items]
Number of acquisitions			10
Brazil
Business Acquisition [Line Items]
Number of acquisitions			2
Canada
Business Acquisition [Line Items]
Number of acquisitions			1
Ireland
Business Acquisition [Line Items]
Number of acquisitions			1
Mexico
Business Acquisition [Line Items]
Number of acquisitions			2
Netherlands
Business Acquisition [Line Items]
Number of acquisitions			1
Romania
Business Acquisition [Line Items]
Number of acquisitions			2
Republic of Korea
Business Acquisition [Line Items]
Number of acquisitions			3
Spain
Business Acquisition [Line Items]
Number of acquisitions			1

ACQUISITIONS - Aggregate Purcha

ACQUISITIONS - Aggregate Purchase Price Paid for Acquisitions and Other Adjustments to Consideration (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Business Combinations [Abstract]
Cash	$ 61,766	$ 304,832
Promissory notes	35,986	63,022
Deferred consideration	974	5,032
Contingent consideration	10,867	15,810
Total purchase price	$ 109,593	$ 388,696

ACQUISITIONS - Preliminary Purc

ACQUISITIONS - Preliminary Purchase Price Allocation and Other Adjustments to Purchase Price Allocations (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
Business Acquisition [Line Items]
Goodwill	$ 2,454,092	$ 2,418,832		$ 2,231,582
Series of Individually Immaterial Business Acquisitions [Member]
Business Acquisition [Line Items]
Fixed assets	12,221		$ 102,394
Intangibles	41,327		219,876
Goodwill	56,455		178,433
Accounts receivable	21,167		54,201
Accounts payable	(10,010)		(25,967)
Net other liabilities	(10,279)		(57,027)
Debt	0		(17,219)
Net deferred tax liabilities	(1,288)		(59,052)
Noncontrolling interests	0		(6,943)
Total purchase price allocation	$ 109,593		$ 388,696

ACQUISITIONS - Additional Infor

ACQUISITIONS - Additional Information (Detail) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2015USD ($)Entity	Mar. 31, 2015USD ($)Entity	Mar. 31, 2014USD ($)	Jun. 30, 2015USD ($)Entity	Jun. 30, 2014USD ($)
Business Acquisition [Line Items]
Number of acquisitions	8	15		23
Net increase in goodwill | $				$ 56,500
Tax deductible goodwill amount | $	$ 21,000			21,000
Net increase in Intangible Assets | $				41,300
Selling, general and administrative expenses
Business Acquisition [Line Items]
Acquisition related expenses | $		$ 2,986	$ 3,979	6,282	$ 7,200
Operating permits
Business Acquisition [Line Items]
Acquired indefinite-lived intangible assets | $				1,400
Customer relationships
Business Acquisition [Line Items]
Acquired finite-lived intangible assets | $				$ 39,900
Acquired finite-lived intangible assets, useful life				23 years 3 months 18 days
Customer relationships | Minimum
Business Acquisition [Line Items]
Acquired finite-lived intangible assets, useful life				15 years
Customer relationships | Maximum
Business Acquisition [Line Items]
Acquired finite-lived intangible assets, useful life				40 years
Brazil
Business Acquisition [Line Items]
Number of acquisitions				2
Ireland
Business Acquisition [Line Items]
Number of acquisitions				1
Mexico
Business Acquisition [Line Items]
Number of acquisitions				2
Romania
Business Acquisition [Line Items]
Number of acquisitions				2
Republic of Korea
Business Acquisition [Line Items]
Number of acquisitions				3
Spain
Business Acquisition [Line Items]
Number of acquisitions				1
Canada
Business Acquisition [Line Items]
Number of acquisitions				1
Netherlands
Business Acquisition [Line Items]
Number of acquisitions				1
United States
Business Acquisition [Line Items]
Net increase in goodwill | $				$ 32,400
United States | Communication Services
Business Acquisition [Line Items]
Number of acquisitions	1
United States | Acquisition One | Regulated and Compliance Solutions
Business Acquisition [Line Items]
Number of acquisitions	1	1
Business acquisition, ownership percentage acquired	100.00%	100.00%		100.00%
United States | Acquisition Two | Regulated and Compliance Solutions
Business Acquisition [Line Items]
Number of acquisitions	4	3
International
Business Acquisition [Line Items]
Net increase in goodwill | $				$ 24,100
International | Brazil | Regulated and Compliance Solutions
Business Acquisition [Line Items]
Number of acquisitions		2
Business acquisition, ownership percentage acquired		100.00%
International | Ireland | Regulated and Compliance Solutions
Business Acquisition [Line Items]
Number of acquisitions		1
Business acquisition, ownership percentage acquired		100.00%
International | Mexico | Regulated and Compliance Solutions
Business Acquisition [Line Items]
Number of acquisitions		2
Business acquisition, ownership percentage acquired		100.00%
International | Romania | Regulated and Compliance Solutions
Business Acquisition [Line Items]
Number of acquisitions		2
International | Republic of Korea | Regulated and Compliance Solutions
Business Acquisition [Line Items]
Number of acquisitions		3
International | Spain | Regulated and Compliance Solutions
Business Acquisition [Line Items]
Number of acquisitions		1
International | Canada | Communication Services
Business Acquisition [Line Items]
Number of acquisitions	1
Business acquisition, ownership percentage acquired	100.00%			100.00%
International | Netherlands | Regulated and Compliance Solutions
Business Acquisition [Line Items]
Number of acquisitions	1
Business acquisition, ownership percentage acquired	100.00%			100.00%

FAIR VALUE MEASUREMENTS - Fair

FAIR VALUE MEASUREMENTS - Fair Value Measurements (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Assets:
Cash and cash equivalents	$ 32,956	$ 22,236
Short-term investments	103	380
Derivative financial instruments	693	515
Total assets	33,752	23,131
Liabilities:
Contingent consideration	26,890	19,941
Derivative financial instruments		2,408
Total liabilities	26,890	22,349
Level 1 Inputs [Member]
Assets:
Cash and cash equivalents	32,956	22,236
Short-term investments	103	380
Derivative financial instruments	0	0
Total assets	33,059	22,616
Liabilities:
Contingent consideration	0	0
Derivative financial instruments		0
Total liabilities	0	0
Level 2 Inputs [Member]
Assets:
Cash and cash equivalents	0	0
Short-term investments	0	0
Derivative financial instruments	693	515
Total assets	693	515
Liabilities:
Contingent consideration	0	0
Derivative financial instruments		2,408
Total liabilities	0	2,408
Level 3 Inputs [Member]
Assets:
Cash and cash equivalents	0	0
Short-term investments	0	0
Derivative financial instruments	0	0
Total assets	0	0
Liabilities:
Contingent consideration	26,890	19,941
Derivative financial instruments		0
Total liabilities	$ 26,890	$ 19,941

FAIR VALUE MEASUREMENTS - Chang

FAIR VALUE MEASUREMENTS - Changes to Contingent Consideration (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Business Combination, Contingent Consideration, Liability [Roll Forward]
Contingent consideration at December 31, 2014	$ 19,941
Increases due to acquisitions	10,867	$ 15,810
Decrease due to payments	(984)
Changes due to foreign currency fluctuations	(2,294)
Changes in fair value reflected in Selling, general, and administrative expenses	(640)	$ 3,953
Contingent consideration at June 30, 2015	$ 26,890

FAIR VALUE MEASUREMENTS - Addit

FAIR VALUE MEASUREMENTS - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Mar. 31, 2015	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset		$ 693		$ 693		$ 515
Cash received on settled hedge	$ 8,800			8,833	$ 0
Settlement of hedge, amount recognized in accumulated other comprehensive income	5,300	646	$ (149)	(3,778)	(149)
Settlement of hedge, tax amount recognized in accumulated other comprehensive income	$ 3,500	117	$ 55	2,498	$ 55
Contingent consideration liabilities		26,890		26,890		19,941
Debt obligations, carrying amount		1,668,006		1,668,006		1,659,215
Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Maximum contingent liability if financial performance measures were fully met		29,800		29,800
Level 3 Inputs [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset		0		0		0
Contingent consideration liabilities		26,890		26,890		19,941
Level 3 Inputs [Member] | Current Liabilities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Contingent consideration liabilities		15,400		15,400
Level 2 Inputs [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative asset		693		693		515
Contingent consideration liabilities		0		0		0
Debt obligations, fair value		$ 1,670,000		$ 1,670,000		$ 1,670,000

INCOME TAXES (Details)

INCOME TAXES (Details)	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Income Tax Disclosure [Abstract]
Effective tax rate	33.60%	35.70%

STOCK BASED COMPENSATION - Expe

STOCK BASED COMPENSATION - Expense Resulting from Stock Option Awards and ESPP (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 5,417	$ 4,452	$ 10,904	$ 9,124
Stock Options [Member] | Cost of revenues
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	22	21	45	28
Stock Options [Member] | Selling, general and administrative expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	4,650	3,818	9,379	7,859
Restricted Stock Units (RSUs) [Member] | Selling, general and administrative expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	375	314	721	629
ESPP shares [Member] | Selling, general and administrative expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 370	$ 299	$ 759	$ 608

STOCK BASED COMPENSATION - Tax

STOCK BASED COMPENSATION - Tax Benefits Related to Stock Compensation (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Tax benefit recognized in Statement of Income	$ 1,134	$ 1,020	$ 3,602	$ 1,929
Excess tax benefit of stock options exercised	$ 2,677	$ 3,346	$ 10,899	$ 7,080

STOCK BASED COMPENSATION - Stoc

STOCK BASED COMPENSATION - Stock Option Activity (Detail) - Jun. 30, 2015 - USD ($) $ / shares in Units, $ in Thousands	Total
Number of Options
Outstanding at beginning of year	5,377,857
Granted	935,276
Exercised	(583,441)
Forfeited	(99,046)
Canceled or expired	(1,228)
Outstanding at June 30, 2015	5,629,418
Exercisable at June 30, 2015	3,035,083
Vested and expected to vest at June 30, 2015	5,374,237
Weighted Average Exercise Price per Share
Outstanding at beginning of year	$ 80.88
Granted	130.97
Exercised	67.31
Forfeited	107.59
Canceled or expired	107.03
Outstanding at June 30, 2015	90.15
Exercisable at June 30, 2015	72.39
Vested and expected to vest at June 30, 2015	$ 88.93
Weighted Average Remaining Contractual Life
Outstanding at June 30, 2015	6 years 24 days
Exercisable at June 30, 2015	5 years 2 months 1 day
Total Aggregate Intrinsic Value
Outstanding at June 30, 2015	$ 246,741
Exercisable at June 30, 2015	$ 186,748

STOCK BASED COMPENSATION - Intr

STOCK BASED COMPENSATION - Intrinsic Value of Options Exercised (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Total intrinsic value of options exercised	$ 10,125	$ 14,721	$ 39,650	$ 26,517

STOCK BASED COMPENSATION - Assu

STOCK BASED COMPENSATION - Assumptions used in Black-Scholes Model (Detail) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock options granted (shares)	74,742	108,705	935,276	963,483
Weighted average fair value at grant date	$ 22.18	$ 21.40	$ 22.80	$ 21.30
Expected term (in years)	4 years 9 months 15 days	4 years 8 months 9 days	4 years 9 months 15 days	4 years 8 months 27 days
Expected volatility	15.98%	17.52%	16.58%	17.60%
Expected dividend yield	0.00%	0.00%	0.00%	0.00%
Risk free interest rate	1.43%	1.53%	1.44%	1.49%

STOCK BASED COMPENSATION - Rest

STOCK BASED COMPENSATION - Restricted Stock Units Activity (Detail) - Jun. 30, 2015 - USD ($) $ / shares in Units, $ in Thousands	Total
Number of Units
Non-vested at beginning of year	63,600
Granted	10,124
Vested and released	0
Forfeited	(3,537)
Non-vested at June 30, 2015	70,187
Weighted Average Grant Date Fair Value Per Share
Non-vested at beginning of year	$ 96.04
Granted	130.19
Vested and released	0
Forfeited	101.56
Non-vested at June 30, 2015	$ 100.69
Total Aggregate Intrinsic Value
Non-vested at June 30, 2015	$ 9,399

STOCK BASED COMPENSATION - Addi

STOCK BASED COMPENSATION - Additional Information (Detail) - Jun. 30, 2015 $ in Millions	USD ($)shares
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expenses related to non-vested option awards	$ 43.5
Weighted average period of recognition for unrecognized compensation expenses	3 years 3 months 2 days
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expenses related to RSUs	$ 4.6
Weighted average period of recognition for unrecognized compensation expenses	2 years 7 months 30 days
Ratio of share reserve related to RSUs granted | shares	2
Restricted Stock Units (RSUs) [Member] | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Restricted Stock Units (RSUs) [Member] | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	5 years

COMMON STOCK - Repurchase of Sh

COMMON STOCK - Repurchase of Shares of Common Stock (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2014	Mar. 31, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Equity [Abstract]
Number of Shares Repurchased and Canceled	574,807	100,713	527,243	685,990	675,520	1,213,233
Amount for Repurchases	$ 77,390	$ 13,771	$ 58,846	$ 78,340	$ 91,161	$ 137,186	$ 194,066
Average Price Paid per Share	$ 134.64	$ 136.74	$ 111.61	$ 114.20	$ 134.95	$ 113.08
Stock Repurchased and Retired During Period, Shares, Not Yet Settled	44,850
Stock Repurchased and Retired During Period, Value, Not Yet Settled	$ 6,000

EARNINGS PER COMMON SHARE - Com

EARNINGS PER COMMON SHARE - Computation of Basic and Diluted Net Income Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Numerator:
Numerator for basic earnings per share net income attributable to Stericycle, Inc.	$ 60,449	$ 81,936	$ 135,907	$ 161,085
Denominator:
Denominator for basic earnings per share-weighted average shares	84,961,907	84,699,043	85,000,723	84,982,966
Effect of diluted securities:
Employee stock options	1,259,127	1,283,545	1,292,093	1,317,326
Denominator for diluted earnings per share-adjusted weighted average shares and after assumed exercises	86,221,034	85,982,588	86,292,816	86,300,292
Earnings per share – Basic (in dollars per share)	$ 0.71	$ 0.97	$ 1.60	$ 1.90
Earnings per share – Diluted (in dollars per share)	$ 0.70	$ 0.95	$ 1.57	$ 1.87

GOODWILL AND OTHER INTANGIBLE51

GOODWILL AND OTHER INTANGIBLE ASSETS - Changes in Carrying Amount of Goodwill (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Goodwill [Roll Forward]
Beginning Balance	$ 2,418,832	$ 2,231,582
Goodwill acquired during year	57,811	258,017
Purchase accounting allocation adjustments	(1,356)	(22,420)
Goodwill other changes	(440)
Changes due to foreign currency fluctuations	(20,755)	(48,347)
Ending Balance	2,454,092	2,418,832
United States
Goodwill [Roll Forward]
Beginning Balance	1,834,315	1,671,723
Goodwill acquired during year	33,369	169,754
Purchase accounting allocation adjustments	(956)	(4,825)
Goodwill other changes	0
Changes due to foreign currency fluctuations	(1,913)	(2,337)
Ending Balance	1,864,815	1,834,315
International
Goodwill [Roll Forward]
Beginning Balance	584,517	559,859
Goodwill acquired during year	24,442	88,263
Purchase accounting allocation adjustments	(400)	(17,595)
Goodwill other changes	(440)
Changes due to foreign currency fluctuations	(18,842)	(46,010)
Ending Balance	$ 589,277	$ 584,517

GOODWILL AND OTHER INTANGIBLE52

GOODWILL AND OTHER INTANGIBLE ASSETS - Values of Intangible Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Intangible Assets by Major Class [Line Items]
Gross Carrying Amount	$ 1,038,057	$ 1,024,567
Accumulated Amortization	129,881	114,922
Net Value	908,176	909,645
Amortizable intangibles | Covenants not-to-compete
Intangible Assets by Major Class [Line Items]
Gross Carrying Amount	8,468	8,474
Accumulated Amortization	6,258	5,688
Net Value	2,210	2,786
Amortizable intangibles | Customer relationships
Intangible Assets by Major Class [Line Items]
Gross Carrying Amount	775,526	755,148
Accumulated Amortization	122,047	107,365
Net Value	653,479	647,783
Amortizable intangibles | Tradenames
Intangible Assets by Major Class [Line Items]
Gross Carrying Amount	4,343	6,062
Accumulated Amortization	951	1,313
Net Value	3,392	4,749
Amortizable intangibles | Technology
Intangible Assets by Major Class [Line Items]
Gross Carrying Amount	611	611
Accumulated Amortization	573	521
Net Value	38	90
Amortizable intangibles | Other
Intangible Assets by Major Class [Line Items]
Gross Carrying Amount	532	539
Accumulated Amortization	52	35
Net Value	480	504
Indefinite lived intangibles | Operating permits
Intangible Assets by Major Class [Line Items]
Gross Carrying Amount	242,777	247,933
Net Value	242,777	247,933
Indefinite lived intangibles | Tradenames
Intangible Assets by Major Class [Line Items]
Gross Carrying Amount	5,800	5,800
Net Value	$ 5,800	$ 5,800

GOODWILL AND OTHER INTANGIBLE53

GOODWILL AND OTHER INTANGIBLE ASSETS - Estimated Amortization Expense (Detail) $ in Thousands	Jun. 30, 2015USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2,015	$ 34,854
2,016	35,146
2,017	35,020
2,018	34,981
2,019	$ 34,960

GOODWILL AND OTHER INTANGIBLE54

GOODWILL AND OTHER INTANGIBLE ASSETS - Additional Information (Detail) $ in Thousands	3 Months Ended			6 Months Ended		12 Months Ended
	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)Segment	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)Segment	Jun. 30, 2014USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Intangible Assets by Major Class [Line Items]
Number of geographical reportable segments | Segment		2		2
Number of reporting units | Segment				3
Goodwill	$ 2,454,092			$ 2,454,092		$ 2,418,832	$ 2,231,582
Intangible assets, net	908,176			908,176		909,645
Intangible assets, (increase) decrease due to currency fluctuations				(22,700)		(44,900)
Aggregate amortization expense	$ 8,921		$ 8,402	$ 17,718	$ 15,717
Operating permits
Intangible Assets by Major Class [Line Items]
Write off of intangibles		$ 1,200
Customer relationships
Intangible Assets by Major Class [Line Items]
Write off of intangibles		200
Finite lived intangible assets, weighted average remaining useful life				23 years 3 months 18 days
Customer relationships | Minimum
Intangible Assets by Major Class [Line Items]
Finite-lived intangible assets, useful life				10 years
Finite lived intangible assets, weighted average remaining useful life				15 years
Customer relationships | Maximum
Intangible Assets by Major Class [Line Items]
Finite-lived intangible assets, useful life				40 years
Finite lived intangible assets, weighted average remaining useful life				40 years
Tradenames
Intangible Assets by Major Class [Line Items]
Write off of intangibles		$ 1,000
Finite lived intangible assets, weighted average remaining useful life				6 years 3 months 18 days
Tradenames | Minimum
Intangible Assets by Major Class [Line Items]
Finite-lived intangible assets, useful life				10 years
Tradenames | Maximum
Intangible Assets by Major Class [Line Items]
Finite-lived intangible assets, useful life				40 years
Covenants not-to-compete
Intangible Assets by Major Class [Line Items]
Finite lived intangible assets, weighted average remaining useful life				4 years 2 months 12 days
Covenants not-to-compete | Minimum
Intangible Assets by Major Class [Line Items]
Finite-lived intangible assets, useful life				3 years
Covenants not-to-compete | Maximum
Intangible Assets by Major Class [Line Items]
Finite-lived intangible assets, useful life				14 years
Domestic Regulated and Compliance Services | Income Approach Goodwill Impairment Test
Intangible Assets by Major Class [Line Items]
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount	100.00%			100.00%
Domestic Regulated Recall and Returns Management Services | Income Approach Goodwill Impairment Test
Intangible Assets by Major Class [Line Items]
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount	100.00%			100.00%
International Regulated and Compliance Services
Intangible Assets by Major Class [Line Items]
Goodwill	$ 589,300			$ 589,300
International Regulated and Compliance Services | Income Approach Goodwill Impairment Test
Intangible Assets by Major Class [Line Items]
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount	88.00%			88.00%
International
Intangible Assets by Major Class [Line Items]
Goodwill	$ 589,277			$ 589,277		$ 584,517	$ 559,859
International | Puerto Rico | Goodwill
Intangible Assets by Major Class [Line Items]
Retroactive reclassification of goodwill				$ 6,400

DEBT - Schedule of Long-Term De

DEBT - Schedule of Long-Term Debt (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Total debt	$ 1,668,006,000	$ 1,659,215,000
Less: current portion of total debt	129,270,000	131,969,000
Long-term portion of total debt	1,538,736,000	1,527,246,000
Obligations under capital leases
Debt Instrument [Line Items]
Total debt	7,274,000	9,185,000
$1.2 billion senior credit facility weighted average rate 1.47%, due in 2019
Debt Instrument [Line Items]
Total debt	362,590,000	459,975,000
Maximum borrowing capacity of line of credit facility	$ 1,200,000,000
Long-term Debt, Weighted Average Interest Rate	1.47%
$250 million term loan 0.97%, due in 2015
Debt Instrument [Line Items]
Total debt	$ 250,000,000	0
Long-term debt, face amount	$ 250,000,000
Stated interest rate	0.97%
$100 million private placement notes 5.64%, due in 2015
Debt Instrument [Line Items]
Total debt	$ 0	100,000,000
$175 million private placement notes 3.89%, due in 2017
Debt Instrument [Line Items]
Total debt	175,000,000	175,000,000
Long-term debt, face amount	$ 175,000,000
Stated interest rate	3.89%
$125 million private placement notes 2.68%, due in 2019
Debt Instrument [Line Items]
Total debt	$ 125,000,000	125,000,000
Long-term debt, face amount	$ 125,000,000
Stated interest rate	2.68%
$225 million private placement notes 4.47%, due in 2020
Debt Instrument [Line Items]
Total debt	$ 225,000,000	225,000,000
Long-term debt, face amount	$ 225,000,000
Stated interest rate	4.47%
$125 million private placement notes 3.26%, due in 2022
Debt Instrument [Line Items]
Total debt	$ 125,000,000	125,000,000
Long-term debt, face amount	$ 125,000,000
Stated interest rate	3.26%
Promissory notes and deferred consideration weighted average rate of 3.80% and weighted average maturity of 3.4 years
Debt Instrument [Line Items]
Total debt	$ 273,982,000	279,590,000
Long-term Debt, Weighted Average Interest Rate	3.80%
Long Term Debt Maturity	3 years 4 months 24 days
Foreign bank debt weighted average rate 8.86% and weighted average maturity of 1.6 years
Debt Instrument [Line Items]
Total debt	$ 124,160,000	$ 160,465,000
Long-term Debt, Weighted Average Interest Rate	8.86%
Long Term Debt Maturity	1 year 7 months 6 days

DEBT - Additional Information (

DEBT - Additional Information (Detail) - USD ($)	Apr. 30, 2015	Apr. 30, 2015	Jun. 30, 2015	Dec. 31, 2014
$1.2 billion senior credit facility weighted average rate 1.47%, due in 2019
Debt Instrument [Line Items]
Maximum borrowing capacity of line of credit facility			$ 1,200,000,000
Revolving credit facility, amount committed to outstanding letters of credit			152,200,000	$ 162,900,000
Revolving credit facility, unused portion			685,200,000	$ 577,100,000
$250 million term loan 0.97%, due in 2015
Debt Instrument [Line Items]
Long-term debt, face amount			$ 250,000,000
Stated interest rate			0.97%
$175 million private placement notes 3.89%, due in 2017
Debt Instrument [Line Items]
Long-term debt, face amount			$ 175,000,000
Stated interest rate			3.89%
$125 million private placement notes 2.68%, due in 2019
Debt Instrument [Line Items]
Long-term debt, face amount			$ 125,000,000
Stated interest rate			2.68%
$225 million private placement notes 4.47%, due in 2020
Debt Instrument [Line Items]
Long-term debt, face amount			$ 225,000,000
Stated interest rate			4.47%
$125 million private placement notes 3.26%, due in 2022
Debt Instrument [Line Items]
Long-term debt, face amount			$ 125,000,000
Stated interest rate			3.26%
Long-term Debt [Member] | $250 million term loan 0.97%, due in 2015
Debt Instrument [Line Items]
Long-term debt, face amount			$ 250,000,000
Long-term Debt [Member] | $100 million private placement notes 5.64%, due in 2015
Debt Instrument [Line Items]
Repayments of Debt		$ 100,000,000
Senior Notes 2.67% Series A | Senior Notes
Debt Instrument [Line Items]
Long-term debt, face amount	$ 200,000,000	$ 200,000,000
Debt instrument, term	7 years
Stated interest rate	2.72%	2.72%
Senior Notes 2.74% Series B | Senior Notes
Debt Instrument [Line Items]
Long-term debt, face amount	$ 100,000,000	$ 100,000,000
Debt instrument, term	8 years
Stated interest rate	2.79%	2.79%

ENVIRONMENTAL LIABILITIES (Deta

ENVIRONMENTAL LIABILITIES (Details) $ in Millions	Jun. 30, 2015USD ($)
Environmental Remediation Obligations [Abstract]
Environmental remediation liabilities	$ 32.3
Environmental remediation liabilities, classified as accrued liabilities	3.1
Environmental remediation liabilities, classified as other liabilities	$ 29.2

GEOGRAPHIC INFORMATION - Detail

GEOGRAPHIC INFORMATION - Detailed Information for Reporting Segment (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Segment Reporting Information [Line Items]
Revenues	$ 715,689	$ 640,822	$ 1,379,008	$ 1,210,777
Income before income taxes	91,770	128,618	199,627	245,679
Income taxes	30,874	45,941	62,921	83,232
Net Income	60,896	82,677	136,706	162,447	$ 328,146
Less: Net Income Attributable to Noncontrolling Interests	447	741	799	1,362
Net Income Attributable to Stericycle, Inc.	60,449	81,936	135,907	161,085
United States
Segment Reporting Information [Line Items]
Revenues	518,182	452,297	990,430	842,060
Net interest expense	10,299	11,620	21,144	22,266
Income before income taxes	79,915	113,148	182,805	217,640
Income taxes	30,591	43,620	68,471	80,659
Net Income Attributable to Stericycle, Inc.	49,324	69,528	114,334	136,981
Depreciation and amortization	16,355	15,835	32,495	28,532
United States | Regulated and Compliance Solutions
Segment Reporting Information [Line Items]
Revenues	489,904	427,576	942,173	794,275
United States | Recall and Returns Solutions
Segment Reporting Information [Line Items]
Revenues	28,278	24,721	48,257	47,785
International
Segment Reporting Information [Line Items]
Net interest expense	6,091	4,748	13,844	9,000
Income before income taxes	11,855	15,470	16,822	28,039
Income taxes	283	2,321	(5,550)	2,573
Net Income	11,572	13,149	22,372	25,466
Less: Net Income Attributable to Noncontrolling Interests	447	741	799	1,362
Net Income Attributable to Stericycle, Inc.	11,125	12,408	21,573	24,104
Depreciation and amortization	11,025	11,646	22,448	22,305
International | Regulated and Compliance Solutions
Segment Reporting Information [Line Items]
Revenues	$ 197,507	$ 188,525	$ 388,578	$ 368,717

GEOGRAPHIC INFORMATION - Additi

GEOGRAPHIC INFORMATION - Additional Information (Detail) - Segment	3 Months Ended	6 Months Ended
	Mar. 31, 2015	Jun. 30, 2015
Segment Reporting [Abstract]
Number of reportable segments	2	2

RESTRUCTURING CHARGES - Restruc

RESTRUCTURING CHARGES - Restructuring Charges (Details) - Jun. 30, 2015 - Selling, general and administrative expenses - USD ($) $ in Thousands	Total	Total
Restructuring Cost and Reserve [Line Items]
Employee severance and related costs	$ 1,537	$ 5,502
Other costs	502	2,664
Fixed assets impairment	0	3,133
Intangible assets impairment	0	2,414
Other	0	628
Total pre-tax restructuring expenses	2,039	14,341
United States
Restructuring Cost and Reserve [Line Items]
Employee severance and related costs	666	2,402
Other costs	332	1,790
Fixed assets impairment	0	3,133
Intangible assets impairment	0	2,167
Other	0	0
Total pre-tax restructuring expenses	998	9,492
International
Restructuring Cost and Reserve [Line Items]
Employee severance and related costs	871	3,100
Other costs	170	874
Fixed assets impairment	0	0
Intangible assets impairment	0	247
Other	0	628
Total pre-tax restructuring expenses	$ 1,041	$ 4,849

RESTRUCTURING CHARGES - Restr61

RESTRUCTURING CHARGES - Restructuring Reserve (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2015USD ($)
Restructuring Reserve [Roll Forward]
Charges to income	$ 8,166
Payments	(5,162)
Other	11
Accrued liabilities
Restructuring Reserve [Roll Forward]
Liability balance	0
Liability balance	3,015
Employee severance and related costs
Restructuring Reserve [Roll Forward]
Charges to income	5,502
Payments	(3,875)
Other	11
Employee severance and related costs | Accrued liabilities
Restructuring Reserve [Roll Forward]
Liability balance	0
Liability balance	1,638
Other costs
Restructuring Reserve [Roll Forward]
Charges to income	2,664
Payments	(1,287)
Other	0
Other costs | Accrued liabilities
Restructuring Reserve [Roll Forward]
Liability balance	0
Liability balance	$ 1,377

RESTRUCTURING CHARGES - Additio

RESTRUCTURING CHARGES - Additional Information (Details) - Jun. 30, 2015 - USD ($) $ in Thousands	Total	Total
Selling, general and administrative expenses
Restructuring Cost and Reserve [Line Items]
Pre-tax restructuring charges	$ 2,039	$ 14,341

LEGAL PROCEEDINGS (Details)

LEGAL PROCEEDINGS (Details) - USD ($)	May. 21, 2015	Apr. 21, 2015	Dec. 03, 2014	Jun. 30, 2015
Utah Division of Air Quality
Loss Contingencies [Line Items]
Loss Contingency, Loss in Period			$ 2,300,000
Loss Contingency, Initial Payment			$ 1,200,000
Period From Settlement Date Within Which Initial Payment Was Paid			30 days
Loss Contingency, Remaining Balance To Be Credited As Supplemental Environmental Project Credit			$ 1,200,000
Period To Close Facility			3 years
Junk Fax Lawsuit | Settled litigation
Loss Contingencies [Line Items]
Loss Contingency, Loss in Period	$ 45,000,000
Period during which class members may submit valid claim form	90 days
Junk Fax Lawsuit | Settled litigation | Selling, general and administrative expenses
Loss Contingencies [Line Items]
Settlement, amount				$ 45,000,000
Junk Fax Lawsuit | Settled litigation | Accrued liabilities
Loss Contingencies [Line Items]
Settlement, pre-tax accrual				$ 45,000,000
Notice of Violation, New Mexico Environment Department
Loss Contingencies [Line Items]
Loss Contingency, Loss in Period		$ 120,800

SUBSEQUENT EVENT (Details)

SUBSEQUENT EVENT (Details) - USD ($)	Jul. 15, 2015	Jun. 30, 2015	Jun. 30, 2014
Subsequent Event [Line Items]
Aggregate purchase price		$ 109,593,000	$ 388,696,000
Subsequent Event | Shred-It and Boost
Subsequent Event [Line Items]
Aggregate purchase price	$ 2,300,000,000