Stericycle (SRCL) 10-Q 9 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Apr. 29, 2016
Document Document And 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	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Trading Symbol	SRCL
Amendment Flag	false
Entity Common Stock, Shares Outstanding		84,912,603

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Current Assets:
Cash and cash equivalents	$ 45,655	$ 55,634
Short-term investments	64	69
Accounts receivable, less allowance for doubtful accounts of $22,964 in 2016 and $22,329 in 2015	622,709	614,494
Prepaid expenses	46,198	46,740
Other current assets	42,732	44,891
Total Current Assets	757,358	761,828
Property, plant and equipment, less accumulated depreciation of $453,753 in 2016 and $426,019 in 2015	677,525	665,602
Goodwill	3,790,016	3,758,177
Intangible assets, less accumulated amortization of $170,507 in 2016 and $151,025 in 2015	1,840,844	1,842,561
Other assets	46,801	49,282
Total Assets	7,112,544	7,077,450
Current Liabilities:
Current portion of long-term debt	114,066	161,409
Accounts payable	133,779	149,202
Accrued liabilities	218,933	197,329
Deferred revenues	17,543	16,989
Other current liabilities	68,192	62,420
Total Current Liabilities	552,513	587,349
Long-term debt, net of current portion	3,038,083	3,052,639
Deferred income taxes	617,011	608,272
Other liabilities	86,448	81,352
Equity:
Common stock (par value $0.01 per share, 120,000,000 shares authorized, 84,829,822 issued and outstanding in 2016 and 84,852,584 issued and outstanding in 2015)	848	849
Additional paid-in capital	1,172,962	1,143,020
Accumulated other comprehensive loss	(265,018)	(282,631)
Retained earnings	1,897,636	1,868,645
Total Stericycle, Inc.’s Equity	2,806,436	2,729,891
Noncontrolling interest	12,053	17,947
Total Equity	2,818,489	2,747,838
Total Liabilities and Equity	7,112,544	7,077,450
Series A preferred stock
Equity:
Preferred stock (par value $0.01 per share, 1,000,000 shares authorized), Mandatory Convertible Preferred Stock, Series A, 770,000 issued and outstanding in 2016 and 2015	$ 8	$ 8

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Accounts receivable, allowance for doubtful accounts	$ 22,964	$ 22,329
Property, plant and equipment, accumulated depreciation	453,753	426,019
Intangible assets, accumulated amortization	$ 170,507	$ 151,025
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	120,000,000	120,000,000
Common stock, issued (in shares)	84,829,822	84,852,584
Common stock, outstanding (in shares)	84,829,822	84,852,584
Series A preferred stock
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized (in shares)	1,000,000	1,000,000
Preferred stock, issued (in shares)	770,000	770,000
Preferred stock, outstanding (in shares)	770,000	770,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Statement [Abstract]
Revenues	$ 874,181	$ 663,319
Costs and Expenses:
Cost of revenues (exclusive of depreciation shown below)	482,356	367,340
Depreciation - cost of revenues	22,641	14,648
Selling, general and administrative expenses (exclusive of depreciation and amortization shown below)	202,488	141,363
Depreciation – selling, general and administrative expenses	7,499	4,118
Amortization	18,274	8,797
Total Costs and Expenses	733,258	536,266
Income from Operations	140,923	127,053
Other Income (Expense):
Interest income	21	35
Interest expense	(24,062)	(18,633)
Other expense, net	(1,251)	(598)
Total Other Expense	(25,292)	(19,196)
Income Before Income Taxes	115,631	107,857
Income tax expense	38,036	32,047
Net Income	77,595	75,810
Less: net income attributable to noncontrolling interests	809	352
Net Income Attributable to Stericycle, Inc.	76,786	75,458
Less: mandatory convertible preferred stock dividend	10,106	0
Net Income Attributable to Stericycle, Inc. Common Shareholders	$ 66,680	$ 75,458
Earnings Per Common Share Attributable to Stericycle, Inc. Common Shareholders:
Basic (in dollars per share)	$ 0.79	$ 0.89
Diluted (in dollars per share)	$ 0.78	$ 0.87
Weighted Average Number of Common Shares Outstanding:
Basic (in shares)	84,705,000	85,037,823
Diluted (in shares)	85,845,501	86,357,006

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statement Of Income And Comprehensive Income [Abstract]
Net Income	$ 77,595	$ 75,810
Other Comprehensive Income/ (Loss):
Foreign currency translation adjustments	17,164	(64,501)
Amortization of cash flow hedge into income, net of tax (($172) and ($54), for the three months ended March 31, 2016 and 2015, respectively)	269	90
Change in fair value of cash flow hedge, net of tax (($89) and $2,381 for the three months ended March 31, 2016 and 2015, respectively)	242	(4,424)
Total Other Comprehensive Loss	17,675	(68,835)
Comprehensive Income	95,270	6,975
Less: comprehensive income/ (loss) attributable to noncontrolling interests	871	(468)
Comprehensive Income Attributable to Stericycle, Inc. Common Shareholders	$ 94,399	$ 7,443

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statement Of Income And Comprehensive Income [Abstract]
Amortization of cash flow hedge into income, tax	$ (172)	$ (54)
Change in fair value of cash flow hedge, tax	$ (89)	$ 2,381

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
OPERATING ACTIVITIES:
Net Income	$ 77,595	$ 75,810
Adjustments to reconcile net income to net cash provided by operating activities:
Stock compensation expense	6,105	5,487
Excess tax benefit of stock options exercised	0	(8,222)
Depreciation	30,140	18,766
Amortization	18,274	8,797
Deferred income taxes	6,932	(2,957)
Other, net	(2,644)	5,313
Changes in operating assets and liabilities, net of effect of acquisitions:
Accounts receivable	(3,918)	(14,491)
Accounts payable	(15,203)	5,443
Accrued liabilities	21,151	35,924
Deferred revenues	487	(628)
Other assets and liabilities	18,030	3,312
Net cash provided by operating activities	156,949	132,554
INVESTING ACTIVITIES:
Payments for acquisitions, net of cash acquired	(24,884)	(34,210)
Proceeds from investments	7	257
Proceeds from sale of property and equipment	766	0
Capital expenditures	(34,185)	(21,356)
Net cash used in investing activities	(58,296)	(55,309)
FINANCING ACTIVITIES:
Repayments of long-term debt and other obligations	(6,879)	(9,780)
Proceeds from foreign bank debt	15,607	4,851
Repayments of foreign bank debt	(18,721)	(38,252)
Proceeds from term loan	0	250,000
Repayment of term loan	(171,000)	0
Proceeds from senior credit facility	457,959	394,097
Repayments of senior credit facility	(353,520)	(670,254)
Payments of capital lease obligations	(1,381)	(988)
Payment of cash flow hedge	0	(8,833)
Purchases and cancellations of treasury stock	(37,693)	(11,516)
Proceeds from issuance of common stock	22,310	27,452
Dividends paid on mandatory convertible preferred stock	(10,106)	0
Excess tax benefit of stock options exercised	0	8,222
Payments to noncontrolling interests	(4,997)	(2,603)
Net cash used in financing activities	(108,421)	(57,604)
Effect of exchange rate changes on cash and cash equivalents	(211)	(3,594)
Net (decrease)/ increase in cash and cash equivalents	(9,979)	16,047
Cash and cash equivalents at beginning of period	55,634	22,236
Cash and cash equivalents at end of period	45,655	38,283
NON-CASH INVESTING ACTIVITIES:
Issuances of obligations for acquisitions	$ 13,013	$ 21,543

CONDENSED CONSOLIDATED STATEME8

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Preferred StockSeries A preferred stock	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interest
Beginning Balance (in shares) at Dec. 31, 2014			84,884
Beginning Balance at Dec. 31, 2014	$ 1,917,185		$ 849	$ 289,211	$ 1,743,371	$ (138,419)	$ 22,173
Net Income	268,013				267,046		967
Currency translation adjustment	(140,648)					(140,809)	161
Change in qualifying cash flow hedge, net of tax	(3,403)					(3,403)
Issuance of common stock for exercise of options, restricted stock units and employee stock purchases (in shares)			973
Issuance of common stock for exercise of options, restricted stock units and employee stock purchases	68,640		$ 10	68,630
Issuance of mandatory convertible preferred stock (in shares)		770
Issuance of mandatory convertible preferred stock	746,900	$ 8		746,892
Purchase and cancellation of treasury stock (in shares)			(1,004)
Purchase and cancellation of treasury stock	(131,676)		$ (10)		(131,666)
Preferred stock dividend	(10,106)				(10,106)
Stock compensation expense	21,750			21,750
Excess tax benefit of stock options exercised	16,897			16,897
Reduction to noncontrolling interests due to additional ownership	(5,714)			(360)			(5,354)
Ending Balance (in shares) at Dec. 31, 2015		770	84,853
Ending Balance at Dec. 31, 2015	2,747,838	$ 8	$ 849	1,143,020	1,868,645	(282,631)	17,947
Net Income	77,595				76,786		809
Currency translation adjustment	17,164					17,102	62
Change in qualifying cash flow hedge, net of tax	511					511
Issuance of common stock for exercise of options, restricted stock units and employee stock purchases (in shares)			305
Issuance of common stock for exercise of options, restricted stock units and employee stock purchases	22,873		$ 3	22,870
Purchase and cancellation of treasury stock (in shares)			(328)
Purchase and cancellation of treasury stock	(37,693)		$ (4)		(37,689)
Preferred stock dividend	(10,106)				(10,106)
Stock compensation expense	6,105			6,105
Reduction to noncontrolling interests due to additional ownership	(5,798)			967			(6,765)
Ending Balance (in shares) at Mar. 31, 2016		770	84,830
Ending Balance at Mar. 31, 2016	$ 2,818,489	$ 8	$ 848	$ 1,172,962	$ 1,897,636	$ (265,018)	$ 12,053

BASIS OF PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2016
Organization Consolidation And Presentation Of Financial Statements [Abstract]
BASIS OF PRESENTATION	NOTE 1 – 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, 2015, as filed with our Annual Report on Form 10-K for the year ended December 31, 2015. The results of operations for the three months ended March 31, 2016 are not necessarily indicative of the results that may be achieved for the entire year ending December 31, 2016. There were no material changes in the Company’s significant accounting policies since the filing of its 2015 Form 10-K. As discussed in the 2015 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	3 Months Ended
	Mar. 31, 2016
Business Combinations [Abstract]
ACQUISITIONS	NOTE 2 – ACQUISITIONS The following table summarizes the locations of our acquisitions for the three months ended March 31, 2016 Acquisition Locations 2016 United States 5 Romania 1 Spain 1 Total 7 During the quarter ended March 31, 2016, we completed seven acquisitions. Domestically, we acquired 100% of the stock of one regulated waste business and selected assets of four secure information destruction businesses. Internationally, we acquired selected assets of one regulated waste business in Romania and one in Spain. The following table summarizes the aggregate purchase price paid for acquisitions and other adjustments of consideration to be paid for acquisitions during the three months ended March 31: In thousands Three Months Ended March 31, 2016 2015 Cash $ 24,884 $ 34,210 Promissory notes 11,595 7,618 Deferred consideration 1,361 624 Contingent consideration 57 13,301 Total purchase price $ 37,897 $ 55,753 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 three months ended March 31, 2016, we recognized a net increase in goodwill of $25.5 million, excluding the effect of foreign currency translation (see Note 9 – Goodwill and Other Intangible Assets). A net increase of $23.7 million was assigned to our United States reportable segment, and a net increase of $1.8 million was assigned to our International reportable segment. Approximately $20.7 million of the goodwill recognized during the three months ended March 31, 2016 will be deductible for income taxes. During the three months ended March 31, 2016, we recognized a net increase in intangible assets from acquisitions of $8.4 million, excluding the effect of foreign currency translation. The changes include $7.7 million in the estimated fair value of acquired customer relationships with amortizable lives of 10 to 40 years and $0.7 million in covenant not-to-compete with an amortizable life of 5 years. The purchase prices for these acquisitions in excess of acquired tangible and identifiable intangible assets have been primarily allocated to goodwill, and are preliminary, pending completion of certain intangible asset valuations and finalization of the opening balance sheet. The following table summarizes the preliminary purchase price allocation for current period acquisitions and other adjustments to purchase price allocations during the three months ended March 31: In thousands Three Months Ended March 31, 2016 2015 Fixed assets $ 3,345 $ (1,477 ) Intangibles 8,436 19,791 Goodwill 25,519 41,190 Accounts receivable 1,715 4,217 Net other assets/ (liabilities) 133 59 Current liabilities (201 ) (4,650 ) Net deferred tax liabilities (1,050 ) (3,377 ) Total purchase price allocation $ 37,897 $ 55,753 During the three months ended March 31, 2016 and 2015, the Company incurred $3.0 million and $3.3 million, respectively, of acquisition related expenses. These expenses are included with “Selling, general and administrative expenses” (“SG&A”) 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	3 Months Ended
	Mar. 31, 2016
Accounting Changes And Error Corrections [Abstract]
NEW ACCOUNTING STANDARDS	NOTE 3 – NEW ACCOUNTING STANDARDS Accounting Standards Recently Adopted Compensation - Stock Compensation On January 1, 2016, the Company adopted the guidance in Accounting Standards Update ("ASU") No. 2016-09, “Compensation - Stock Compensation (Topic 718) - Improvements to Employee Share-Based Payment Accounting.” Accounting Standards Issued But Not Yet Adopted Revenue From Contracts With Customers In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers" (Topic 606), Leases In February 2016, the FASB issued ASU No. 2016-02, “Leases” (Topic 842)

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 4 – 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 judgment about the 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 March 31, 2016 Level 1 Inputs Level 2 Inputs Level 3 Inputs Assets: Cash and cash equivalents $ 45,655 $ 45,655 $ — $ — Short-term investments 64 $ 64 — — Derivative financial instruments 954 — 954 — Total assets $ 46,673 $ 45,719 $ 954 $ — Liabilities: Contingent consideration $ 22,967 $ — $ — $ 22,967 Total liabilities $ 22,967 $ — $ — $ 22,967 In thousands Fair Value Measurements Using Total as of December 31, 2015 Level 1 Inputs Level 2 Inputs Level 3 Inputs Assets: Cash and cash equivalents $ 55,634 $ 55,634 $ — $ — Short-term investments 69 69 — — Derivative financial instruments 1,207 — 1,207 — Total assets $ 56,910 $ 55,703 $ 1,207 $ — Liabilities: Contingent consideration $ 25,390 $ — $ — $ 25,390 Total liabilities $ 25,390 $ — $ — $ 25,390 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 $1.0 million asset related to the fair value of the U.S. dollar-Canadian dollar foreign currency swap which was classified as other assets at March 31, 2016. The objective of the swap is to offset the foreign exchange risk to the U.S. dollar equivalent cash outflows for our Canadian subsidiary. We had contingent consideration liabilities recorded using Level 3 inputs in the amount of $23.0 million, of which $6.9 million was classified as current liabilities at March 31, 2016. Contingent consideration liabilities were $25.4 million at December 31, 2015. 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 $40.2 million at March 31, 2016. 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 January 1, 2016 $ 25,390 Increases due to acquisitions 57 Decrease due to payments (1,000 ) Changes due to foreign currency fluctuations 1,164 Changes in fair value reflected in Selling, general, and administrative expenses (2,644 ) Contingent consideration at March 31, 2016 $ 22,967 Fair Value of Debt : At March 31, 2016, the fair value of the Company’s debt obligations was estimated, using Level 2 inputs, at $3.13 billion compare to a carrying amount of $3.15 billion. At December 31, 2015, the fair value of the Company’s debt obligations was estimated, using Level 2 inputs, at $3.22 billion compared to a carrying amount of $3.21 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	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 5 – 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 certain unrecognized tax positions. Such unrecognized tax positions relate to additional taxes that 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 unrecognized tax positions as deemed necessary. During the quarter ended March 31, 2016, we had no material changes to our accruals related to previous or current uncertain tax positions. The effective tax rates for the quarters ended March 31, 2016 and 2015 were approximately 32.9% and 29.7%, respectively. The increase in the current quarter tax rate is primarily related to the recognition of tax benefits in 2015.

STOCK BASED COMPENSATION

STOCK BASED COMPENSATION	3 Months Ended
	Mar. 31, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
STOCK BASED COMPENSATION	NOTE 6 – STOCK BASED COMPENSATION At March 31, 2016, we had the following active 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 Non-statutory Stock Option Plan, which expired in February 2010; · 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 March 31, 2016 2015 Cost of revenues – stock option plan $ 15 $ 23 Selling, general and administrative – stock option plan 4,752 4,729 Selling, general and administrative – RSUs 559 346 Selling, general and administrative – ESPP 779 389 Total pre-tax expense $ 6,105 $ 5,487 Stock Options: Stock option activity for the three months ended March 31, 2016, is summarized as follows: Number of Options Weighted Average Exercise Price per Share Weighted Average Remaining Contractual Life Total Aggregate Intrinsic Value (in years) (in thousands) Outstanding at beginning of year 5,334,803 $ 92.02 Granted 1,008,569 111.29 Exercised (306,088 ) 73.22 Forfeited (28,412 ) 118.19 Canceled or expired (1,939 ) 86.92 Outstanding at March 31, 2016 6,006,933 96.10 5.92 $ 185,247 Exercisable at March 31, 2016 3,225,121 80.59 4.93 $ 147,947 As of March 31, 2016, there was $38.7 million of total unrecognized compensation expense related to non-vested option awards, which is expected to be recognized over a weighted average period of 3.58 years. The following table sets forth the total intrinsic value of options exercised: Three Months Ended March 31, 2016 2015 Total intrinsic value of options exercised $ 13,229 $ 29,525 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 March 31, 2016 2015 Stock options granted (shares) 1,008,569 860,534 Weighted average fair value at grant date (per share) $ 20.19 $ 22.84 Assumptions: Expected term (in years) 4.76 4.79 Expected volatility 18.02 % 16.62 % Expected dividend yield — % — % Risk free interest rate 1.26 % 1.48 % Restricted Stock Units: Restricted stock units (“RSUs”) vest annually, or at the end of three and 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 three months ended March 31, 2016, are as follows : Number of Options Weighted Average Grant Date Fair Value Weighted Average Remaining Contractual Life Total Aggregate Intrinsic Value (in years) (in thousands) Non-vested at beginning of year 71,451 $ 101.29 Granted 53,267 111.12 Non-vested at March 31, 2016 124,718 105.57 2.34 $ 15,738 As of March 31, 2016, there was $8.9 million of total unrecognized compensation expense related to RSUs, which is expected to be recognized over a weighted average period of 3.15 years.

PREFERRED STOCK

PREFERRED STOCK	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
PREFERRED STOCK	NOTE 7 – PREFERRED STOCK At March 31, 2016, we had 1,000,000 authorized shares of preferred stock and 770,000 shares issued and outstanding of Mandatory Convertible Preferred Stock. Series A Mandatory Convertible Preferred Stock Offering: On September 15, 2015, we completed a registered public offering of 7,700,000 depositary shares, each representing a 1/10th interest in a share of our 5.25% Series A Mandatory Convertible Preferred Stock, par value $0.01 per share (the “Series A Preferred Stock”), at a public offering price of $100.00 per depository share for total gross proceeds of $770.0 million. Unless earlier converted or redeemed, each share of the Series A Preferred Stock will automatically convert into between 5.8716 and 7.3394 shares of our common stock, subject to anti-dilution and other adjustments, on the mandatory conversion date, which is expected to be September 15, 2018. The number of shares of our common stock issuable on conversion will be determined based on the volume-weighted average price of our common stock over the 20 trading day period commencing on and including the 23rd scheduled trading day prior to September 15, 2018. Subject to certain restrictions, at any time prior to September 15, 2018, holders of the Series A Preferred Stock may elect to convert all or a portion of their shares into common stock at the minimum conversion rate of 5.8716 shares of common stock per share of Series A Preferred Stock, subject to adjustment. Dividends on shares of the Series A Preferred Stock are payable on a cumulative basis when, as and if declared by our board of directors, or an authorized committee thereof, at an annual rate of 5.25% on the liquidation preference of $1,000 per share (and, correspondingly, $100.00 per share with respect to the depositary shares). The dividends may be payable in cash, or subject to certain limitations, in shares of our common stock or any combination of cash and shares of our common stock on March 15, June 15, September 15 and December 15 of each year, commencing on December 15, 2015, and to, and including, September 15, 2018.

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
EARNINGS PER COMMON SHARE	NOTE 8 – 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, RSUs, and the assumed conversion of mandatory convertible preferred stock. The effect of potentially dilutive securities is reflected in diluted earnings per share by application of the “treasury stock method” for outstanding restricted stock awards and stock options. 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. For the issue of the mandatory convertible preferred stock, we use the “if-converted method”. Under the if-converted method, the preferred dividend applicable to convertible preferred stock is added back to net income attributable to Stericycle, the numerator. The Mandatory Convertible Preferred shares are assumed to be converted to common shares at the beginning of the period or, if later, at the time of issuance, and the resulting common shares are included in the denominator. In applying the if-converted method, conversion shall not be assumed for purposes of computing diluted EPS if the effect would be anti-dilutive. 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 March 31, 2016 2015 Numerator: Net income attributable to Stericycle, Inc. $ 76,786 $ 75,458 Less: mandatory convertible preferred stock dividend 10,106 — Numerator for basic earnings per share attributable to Stericycle, Inc. common shareholders $ 66,680 $ 75,458 Denominator: Denominator for basic earnings per share-weighted average shares 84,705,000 85,037,823 Effect of diluted securities: Employee stock based awards 1,140,501 1,319,183 Mandatory convertible preferred stock (1) — — Denominator for diluted earnings per share-adjusted weighted average shares and after assumed exercises 85,845,501 86,357,006 Earnings per share – Basic $ 0.79 $ 0.89 Earnings per share – Diluted $ 0.78 $ 0.87 (1) In 2016, the weighted average common shares issuable upon the assumed conversion of the mandatory convertible preferred stock totaling 5,651,376 shares were excluded from the computation of diluted earnings per share as such conversion would have been antidilutive. For additional information regarding outstanding employee stock options, see Note 6 - Stock Based Compensation.

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	3 Months Ended
	Mar. 31, 2016
Goodwill And Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	NOTE 9 – 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. The changes in the carrying amount of goodwill since January 1, 2015, by reportable segment, were as follows: In thousands United States International Total Balance as of January 1, 2015 $ 1,838,739 $ 580,093 $ 2,418,832 Goodwill acquired during the year, net 1,177,431 273,519 1,450,950 Purchase accounting allocation adjustments (43,895 ) 15,618 (28,277 ) Goodwill other changes — (440 ) (440 ) Changes due to foreign currency fluctuations — (82,888 ) (82,888 ) Balance as of December 31, 2015 2,972,275 785,902 3,758,177 Goodwill acquired during the year, net 17,390 450 17,840 Purchase accounting allocation adjustments 6,305 1,374 7,679 Changes due to foreign currency fluctuations — 6,320 6,320 Balance at March 31, 2016 $ 2,995,970 $ 794,046 $ 3,790,016 Current year adjustments to goodwill for certain 2015 acquisitions are primarily due to the finalization of intangible asset valuations. We complete our annual impairment analysis of our goodwill during the quarter ended June 30 of each year, or more frequently, if circumstances indicate that it may be impaired. Other Intangible Assets: At March 31, 2016 and December 31, 2015, the values of other intangible assets were as follows: In thousands March 31, 2016 December 31, 2015 Gross Carrying Amount Accumulated Amortization Net Value Gross Carrying Amount Accumulated Amortization Net Value Amortizable intangibles: Customer relationships $ 1,319,782 $ 162,831 $ 1,156,951 $ 1,304,388 $ 144,020 $ 1,160,368 Covenants not-to-compete 7,630 5,340 2,290 6,878 5,141 1,737 Tradenames 3,935 1,022 2,913 3,819 948 2,871 Other 16,834 1,314 15,520 18,902 916 17,986 Indefinite lived intangibles: Operating permits 234,888 — 234,888 233,101 — 233,101 Tradenames 428,282 — 428,282 426,498 — 426,498 Total $ 2,011,351 $ 170,507 $ 1,840,844 $ 1,993,586 $ 151,025 $ 1,842,561 The changes in the carrying amount of intangible assets since January 1, 2015 were as follows: In thousands Total Balance as of January 1, 2015 $ 909,645 Intangible assets acquired during the year, net 1,052,016 Impairments during the year (4,177 ) Amortization during the year (45,498 ) Changes due to foreign currency fluctuations (69,425 ) Balance as of December 31, 2015 1,842,561 Intangible assets acquired during the year, net 8,436 Amortization during the year (18,274 ) Changes due to foreign currency fluctuations 8,121 Balance at March 31, 2016 $ 1,840,844 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 19.1 years. We have covenants not-to-compete intangibles with useful lives from 5 to 14 years, with a weighted average remaining useful life of 4.4 years. We have tradename intangibles with useful lives from 15 to 40 years, with a weighted average remaining useful life of 16.9 years. Other intangibles mainly consist of landfill air rights with a weighted average remaining useful life of 18.5 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. We also have a trade name that we have determined has an indefinite life. During the quarters ended March 31, 2016 and 2015, the aggregate amortization expense was $18.3 million and $8.8 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 2016 $ 72,287 2017 72,300 2018 72,252 2019 72,095 2020 71,805 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 March 31, 2016.

ENVIRONMENTAL REMEDIATION LIABI

ENVIRONMENTAL REMEDIATION LIABILITIES	3 Months Ended
	Mar. 31, 2016
Environmental Remediation Obligations [Abstract]
ENVIRONMENTAL REMEDIATION LIABILITIES	NOTE 10 – 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 March 31, 2016, the total environmental remediation liabilities recorded were $30.4 million, of which $1.5 million was classified as accrued liabilities and $28.9 million was classified as other liabilities.

DEBT

DEBT	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
DEBT	NOTE 11 – DEBT Long-term debt consisted of the following: In thousands March 31, 2016 December 31, 2015 Obligations under capital leases $ 14,308 $ 15,024 $1.20 billion senior credit facility weighted average rate 1.87%, due in 2019 455,911 353,763 $1.08 billion term loan weighted average rate 1.81%, due in 2020 1,079,000 1,250,000 $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 $150 million private placement notes 2.89%, due in 2021 150,000 150,000 $125 million private placement notes 3.26%, due in 2022 125,000 125,000 $200 million private placement notes 2.72%, due in 2022 200,000 200,000 $100 million private placement notes 2.79%, due in 2023 100,000 100,000 $150 million private placement notes 3.18%, due in 2023 150,000 150,000 Promissory notes and deferred consideration weighted average rate of 2.35% and weighted average maturity of 3.1 years 246,442 239,731 Foreign bank debt weighted average rate 7.40% and weighted average maturity of 2.0 years 106,488 105,530 Total debt 3,152,149 3,214,048 Less: current portion of total debt 114,066 161,409 Long-term portion of total debt $ 3,038,083 $ 3,052,639 Our $1.20 billion senior credit facility maturing in June 2019, our $1.08 billion term loan maturing in August 2020, 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, our $150.0 million private placement notes maturing in October 2021, our $125.0 million private placement notes maturing in December 2022, our $200.0 million private placement notes maturing in July 2022, our $100.0 million private placement notes maturing in July 2023, and our $150.0 million private placement notes maturing in October 2023 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, term loan, and the private placement notes. At March 31, 2016, we were in compliance with all of our financial debt covenants. Our senior credit facility, term loan, and the private placement notes rank pari passu to each other and all other unsecured debt obligations, As of March 31, 2016 and December 31, 2015, we had $159.8 million and $160.4 million, respectively, committed to outstanding letters of credit under our senior credit facility. The unused portion of the revolving credit facility as of March 31, 2016 and December 31, 2015 was $584.3 million and $685.8 million, respectively.

GEOGRAPHIC INFORMATION

GEOGRAPHIC INFORMATION	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
GEOGRAPHIC INFORMATION	NOTE 12 – GEOGRAPHIC INFORMATION The FASB Accounting Standards Codification Topic 280, Segment Reporting Detailed information for our United States reportable segment is as follows: In thousands Three Months Ended March 31, 2016 2015 Regulated and compliance solutions revenues $ 624,878 $ 452,269 Recall and returns solutions revenues 24,790 19,979 Total revenues $ 649,668 $ 472,248 Net interest expense 19,883 10,845 Income before income taxes 108,313 102,890 Income taxes 38,814 37,880 Net income attributable to Stericycle, Inc. $ 69,499 $ 65,010 Depreciation and amortization $ 31,570 $ 16,140 Detailed information for our International reportable segment is as follows: In thousands Three Months Ended March 31, 2016 2015 Regulated and compliance solutions revenues $ 224,513 $ 191,071 Net interest expense 4,158 7,753 Income before income taxes 7,318 4,967 Income taxes (778 ) (5,833 ) Net income 8,096 10,800 Less: net income attributable to noncontrolling interests 809 352 Net income attributable to Stericycle, Inc. $ 7,287 $ 10,448 Depreciation and amortization $ 16,844 $ 11,423

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS	3 Months Ended
	Mar. 31, 2016
Commitments And Contingencies Disclosure [Abstract]
LEGAL PROCEEDINGS	NOTE 13 – 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. 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. 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 arose out of the qui tam (or “whistle blower”) action captioned United States of America ex rel. Jennifer D. Perez v. Stericycle, Inc., Case No. 1:08-cv-2390 which was settled in the fourth quarter of 2015 as previously disclosed. Following the filing of the Pennsylvania class action complaint, we were served with class action complaints filed in federal and state courts in several jurisdictions. 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 granted our Motion to Transfer these related actions to the United States District Court for the Northern District of Illinois for centralized pretrial proceedings (the “MDL Action”). On December 10, 2013, we filed our answer to the Amended Consolidated Class Action Complaint in the MDL Action, generally denying the allegations therein. On January 29, 2016, the plaintiffs’ attorneys filed a Second Amended Consolidated Complaint and a Motion for Class Certification in the MDL Action. The Motion requests that the court certify a class of plaintiffs consisting of certain of our small quantity customers who received rate increases. We intend to strongly contest the Motion. We believe that we have operated in accordance with the terms of our customer contracts and that these complaints are without merit. We will continue to vigorously defend ourselves against each of these lawsuits. We have not accrued any amounts in respect of these class action 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) we do not know whether the court will certify any class of plaintiffs or, if any class is certified, how the class would be defined, and (iii) in our judgment, there are no comparable proceedings against other defendants that might provide guidance in making estimates. Environmental Matters . Our Environmental Solutions business is 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, we frequently become 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 us or by other parties to which either we or the prior owners of certain of its facilities shipped wastes. From time to time, we may be subject to fines or penalties in regulatory proceedings relating primarily to waste treatment, storage or disposal facilities. We believe that the fines or other penalties that we 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 February 29, 2016, we entered into a statute of limitations tolling agreement with the United States Attorney’s Office for the District of Utah relating to that Office’s investigation of the same facts underlying the notice of violation (the “NOV”) issued by the State of Utah Division of Air Quality (the “DAQ”) that resulted in our December 2014 settlement with the DAQ that we have previously disclosed. The U.S. Attorney’s Office is investigating whether the matters forming the basis of the NOV constitute violations of the Clean Air Act and other federal statutes. Under the tolling agreement, the period from March 1, 2016 through July 31, 2016 will be excluded from any calculation of time for the purpose of determining the statute of limitations concerning any charges that we violated federal statutes. The agreement does not constitute an admission of guilt or wrongdoing on our part and cannot be construed as a waiver of any other rights or defenses that we may have in any resulting action or proceeding. We will continue to cooperate with the investigation.

NEW ACCOUNTING STANDARDS (Polic

NEW ACCOUNTING STANDARDS (Policies)	3 Months Ended
	Mar. 31, 2016
Accounting Changes And Error Corrections [Abstract]
New Accounting Standards	Accounting Standards Recently Adopted Compensation - Stock Compensation On January 1, 2016, the Company adopted the guidance in Accounting Standards Update ("ASU") No. 2016-09, “Compensation - Stock Compensation (Topic 718) - Improvements to Employee Share-Based Payment Accounting.” Accounting Standards Issued But Not Yet Adopted Revenue From Contracts With Customers In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers" (Topic 606), Leases In February 2016, the FASB issued ASU No. 2016-02, “Leases” (Topic 842)

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	3 Months Ended
	Mar. 31, 2016
Business Combinations [Abstract]
Summary of Location of Acquisitions	The following table summarizes the locations of our acquisitions for the three months ended March 31, 2016 Acquisition Locations 2016 United States 5 Romania 1 Spain 1 Total 7
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 three months ended March 31: In thousands Three Months Ended March 31, 2016 2015 Cash $ 24,884 $ 34,210 Promissory notes 11,595 7,618 Deferred consideration 1,361 624 Contingent consideration 57 13,301 Total purchase price $ 37,897 $ 55,753
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 three months ended March 31: In thousands Three Months Ended March 31, 2016 2015 Fixed assets $ 3,345 $ (1,477 ) Intangibles 8,436 19,791 Goodwill 25,519 41,190 Accounts receivable 1,715 4,217 Net other assets/ (liabilities) 133 59 Current liabilities (201 ) (4,650 ) Net deferred tax liabilities (1,050 ) (3,377 ) Total purchase price allocation $ 37,897 $ 55,753

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	In thousands Fair Value Measurements Using Total as of March 31, 2016 Level 1 Inputs Level 2 Inputs Level 3 Inputs Assets: Cash and cash equivalents $ 45,655 $ 45,655 $ — $ — Short-term investments 64 $ 64 — — Derivative financial instruments 954 — 954 — Total assets $ 46,673 $ 45,719 $ 954 $ — Liabilities: Contingent consideration $ 22,967 $ — $ — $ 22,967 Total liabilities $ 22,967 $ — $ — $ 22,967 In thousands Fair Value Measurements Using Total as of December 31, 2015 Level 1 Inputs Level 2 Inputs Level 3 Inputs Assets: Cash and cash equivalents $ 55,634 $ 55,634 $ — $ — Short-term investments 69 69 — — Derivative financial instruments 1,207 — 1,207 — Total assets $ 56,910 $ 55,703 $ 1,207 $ — Liabilities: Contingent consideration $ 25,390 $ — $ — $ 25,390 Total liabilities $ 25,390 $ — $ — $ 25,390
Changes to Contingent Consideration	Changes to contingent consideration are reflected in the table below: In thousands Contingent consideration at January 1, 2016 $ 25,390 Increases due to acquisitions 57 Decrease due to payments (1,000 ) Changes due to foreign currency fluctuations 1,164 Changes in fair value reflected in Selling, general, and administrative expenses (2,644 ) Contingent consideration at March 31, 2016 $ 22,967

STOCK BASED COMPENSATION (Table

STOCK BASED COMPENSATION (Tables)	3 Months Ended
	Mar. 31, 2016
Disclosure Of Compensation Related Costs Sharebased 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 March 31, 2016 2015 Cost of revenues – stock option plan $ 15 $ 23 Selling, general and administrative – stock option plan 4,752 4,729 Selling, general and administrative – RSUs 559 346 Selling, general and administrative – ESPP 779 389 Total pre-tax expense $ 6,105 $ 5,487
Stock Option Activity	Stock option activity for the three months ended March 31, 2016, is summarized as follows: Number of Options Weighted Average Exercise Price per Share Weighted Average Remaining Contractual Life Total Aggregate Intrinsic Value (in years) (in thousands) Outstanding at beginning of year 5,334,803 $ 92.02 Granted 1,008,569 111.29 Exercised (306,088 ) 73.22 Forfeited (28,412 ) 118.19 Canceled or expired (1,939 ) 86.92 Outstanding at March 31, 2016 6,006,933 96.10 5.92 $ 185,247 Exercisable at March 31, 2016 3,225,121 80.59 4.93 $ 147,947
Intrinsic Value of Options Exercised	The following table sets forth the total intrinsic value of options exercised: Three Months Ended March 31, 2016 2015 Total intrinsic value of options exercised $ 13,229 $ 29,525
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 March 31, 2016 2015 Stock options granted (shares) 1,008,569 860,534 Weighted average fair value at grant date (per share) $ 20.19 $ 22.84 Assumptions: Expected term (in years) 4.76 4.79 Expected volatility 18.02 % 16.62 % Expected dividend yield — % — % Risk free interest rate 1.26 % 1.48 %
Restricted Stock Units Activity	A summary of the status of our non-vested RSUs and changes during the three months ended March 31, 2016, are as follows : Number of Options Weighted Average Grant Date Fair Value Weighted Average Remaining Contractual Life Total Aggregate Intrinsic Value (in years) (in thousands) Non-vested at beginning of year 71,451 $ 101.29 Granted 53,267 111.12 Non-vested at March 31, 2016 124,718 105.57 2.34 $ 15,738

EARNINGS PER COMMON SHARE (Tabl

EARNINGS PER COMMON SHARE (Tables)	3 Months Ended
	Mar. 31, 2016
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 March 31, 2016 2015 Numerator: Net income attributable to Stericycle, Inc. $ 76,786 $ 75,458 Less: mandatory convertible preferred stock dividend 10,106 — Numerator for basic earnings per share attributable to Stericycle, Inc. common shareholders $ 66,680 $ 75,458 Denominator: Denominator for basic earnings per share-weighted average shares 84,705,000 85,037,823 Effect of diluted securities: Employee stock based awards 1,140,501 1,319,183 Mandatory convertible preferred stock (1) — — Denominator for diluted earnings per share-adjusted weighted average shares and after assumed exercises 85,845,501 86,357,006 Earnings per share – Basic $ 0.79 $ 0.89 Earnings per share – Diluted $ 0.78 $ 0.87 (1) In 2016, the weighted average common shares issuable upon the assumed conversion of the mandatory convertible preferred stock totaling 5,651,376 shares were excluded from the computation of diluted earnings per share as such conversion would have been antidilutive.

GOODWILL AND OTHER INTANGIBLE27

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	3 Months Ended
	Mar. 31, 2016
Goodwill And Intangible Assets Disclosure [Abstract]
Changes in Carrying Amount of Goodwill	The changes in the carrying amount of goodwill since January 1, 2015, by reportable segment, were as follows: In thousands United States International Total Balance as of January 1, 2015 $ 1,838,739 $ 580,093 $ 2,418,832 Goodwill acquired during the year, net 1,177,431 273,519 1,450,950 Purchase accounting allocation adjustments (43,895 ) 15,618 (28,277 ) Goodwill other changes — (440 ) (440 ) Changes due to foreign currency fluctuations — (82,888 ) (82,888 ) Balance as of December 31, 2015 2,972,275 785,902 3,758,177 Goodwill acquired during the year, net 17,390 450 17,840 Purchase accounting allocation adjustments 6,305 1,374 7,679 Changes due to foreign currency fluctuations — 6,320 6,320 Balance at March 31, 2016 $ 2,995,970 $ 794,046 $ 3,790,016
Amortizable Intangibles	At March 31, 2016 and December 31, 2015, the values of other intangible assets were as follows: In thousands March 31, 2016 December 31, 2015 Gross Carrying Amount Accumulated Amortization Net Value Gross Carrying Amount Accumulated Amortization Net Value Amortizable intangibles: Customer relationships $ 1,319,782 $ 162,831 $ 1,156,951 $ 1,304,388 $ 144,020 $ 1,160,368 Covenants not-to-compete 7,630 5,340 2,290 6,878 5,141 1,737 Tradenames 3,935 1,022 2,913 3,819 948 2,871 Other 16,834 1,314 15,520 18,902 916 17,986 Indefinite lived intangibles: Operating permits 234,888 — 234,888 233,101 — 233,101 Tradenames 428,282 — 428,282 426,498 — 426,498 Total $ 2,011,351 $ 170,507 $ 1,840,844 $ 1,993,586 $ 151,025 $ 1,842,561
Indefinite Lived Intangibles	The changes in the carrying amount of intangible assets since January 1, 2015 were as follows: In thousands Total Balance as of January 1, 2015 $ 909,645 Intangible assets acquired during the year, net 1,052,016 Impairments during the year (4,177 ) Amortization during the year (45,498 ) Changes due to foreign currency fluctuations (69,425 ) Balance as of December 31, 2015 1,842,561 Intangible assets acquired during the year, net 8,436 Amortization during the year (18,274 ) Changes due to foreign currency fluctuations 8,121 Balance at March 31, 2016 $ 1,840,844
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 2016 $ 72,287 2017 72,300 2018 72,252 2019 72,095 2020 71,805

DEBT (Tables)

DEBT (Tables)	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Long-Term Debt	Long-term debt consisted of the following: In thousands March 31, 2016 December 31, 2015 Obligations under capital leases $ 14,308 $ 15,024 $1.20 billion senior credit facility weighted average rate 1.87%, due in 2019 455,911 353,763 $1.08 billion term loan weighted average rate 1.81%, due in 2020 1,079,000 1,250,000 $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 $150 million private placement notes 2.89%, due in 2021 150,000 150,000 $125 million private placement notes 3.26%, due in 2022 125,000 125,000 $200 million private placement notes 2.72%, due in 2022 200,000 200,000 $100 million private placement notes 2.79%, due in 2023 100,000 100,000 $150 million private placement notes 3.18%, due in 2023 150,000 150,000 Promissory notes and deferred consideration weighted average rate of 2.35% and weighted average maturity of 3.1 years 246,442 239,731 Foreign bank debt weighted average rate 7.40% and weighted average maturity of 2.0 years 106,488 105,530 Total debt 3,152,149 3,214,048 Less: current portion of total debt 114,066 161,409 Long-term portion of total debt $ 3,038,083 $ 3,052,639

GEOGRAPHIC INFORMATION (Tables)

GEOGRAPHIC INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Detailed Information for Reportable Segment	Detailed information for our United States reportable segment is as follows: In thousands Three Months Ended March 31, 2016 2015 Regulated and compliance solutions revenues $ 624,878 $ 452,269 Recall and returns solutions revenues 24,790 19,979 Total revenues $ 649,668 $ 472,248 Net interest expense 19,883 10,845 Income before income taxes 108,313 102,890 Income taxes 38,814 37,880 Net income attributable to Stericycle, Inc. $ 69,499 $ 65,010 Depreciation and amortization $ 31,570 $ 16,140 Detailed information for our International reportable segment is as follows: In thousands Three Months Ended March 31, 2016 2015 Regulated and compliance solutions revenues $ 224,513 $ 191,071 Net interest expense 4,158 7,753 Income before income taxes 7,318 4,967 Income taxes (778 ) (5,833 ) Net income 8,096 10,800 Less: net income attributable to noncontrolling interests 809 352 Net income attributable to Stericycle, Inc. $ 7,287 $ 10,448 Depreciation and amortization $ 16,844 $ 11,423

ACQUISITIONS - Summary of Acqui

ACQUISITIONS - Summary of Acquisition Location (Detail)	3 Months Ended
	Mar. 31, 2016Entity
Business Acquisition [Line Items]
Number of acquisitions	7
United States
Business Acquisition [Line Items]
Number of acquisitions	5
Romania
Business Acquisition [Line Items]
Number of acquisitions	1
Spain
Business Acquisition [Line Items]
Number of acquisitions	1

ACQUISITIONS - Additional Infor

ACQUISITIONS - Additional Information (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)Entity	Mar. 31, 2015USD ($)
Business Acquisition [Line Items]
Number of acquisitions | Entity	7
Net increase in goodwill	$ 25.5
Tax deductible goodwill amount	20.7
Net increase in Intangible Assets	8.4
Selling, general and administrative expenses
Business Acquisition [Line Items]
Acquisition related expenses	3	$ 3.3
Customer relationships
Business Acquisition [Line Items]
Acquired finite-lived intangible assets	$ 7.7
Customer relationships | Minimum
Business Acquisition [Line Items]
Acquired finite-lived intangible assets, useful life	10 years
Customer relationships | Maximum
Business Acquisition [Line Items]
Acquired finite-lived intangible assets, useful life	40 years
Covenants not-to-compete
Business Acquisition [Line Items]
Acquired finite-lived intangible assets	$ 0.7
Acquired finite-lived intangible assets, useful life	5 years
Romania
Business Acquisition [Line Items]
Number of acquisitions | Entity	1
Spain
Business Acquisition [Line Items]
Number of acquisitions | Entity	1
United States
Business Acquisition [Line Items]
Net increase in goodwill	$ 23.7
United States | Secure information destruction business
Business Acquisition [Line Items]
Number of acquisitions | Entity	4
United States | Acquisition One | Regulated and Compliance Solutions
Business Acquisition [Line Items]
Number of acquisitions | Entity	1
Business acquisition, ownership percentage acquired	100.00%
International
Business Acquisition [Line Items]
Net increase in goodwill	$ 1.8
International | Romania | Regulated and Compliance Solutions
Business Acquisition [Line Items]
Number of acquisitions | Entity	1
International | Spain | Regulated and Compliance Solutions
Business Acquisition [Line Items]
Number of acquisitions | Entity	1

ACQUISITIONS - Aggregate Purcha

ACQUISITIONS - Aggregate Purchase Price Paid for Acquisitions and Other Adjustments to Consideration (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Business Combinations [Abstract]
Cash	$ 24,884	$ 34,210
Promissory notes	11,595	7,618
Deferred consideration	1,361	624
Contingent consideration	57	13,301
Total purchase price	$ 37,897	$ 55,753

ACQUISITIONS - Preliminary Purc

ACQUISITIONS - Preliminary Purchase Price Allocation and Other Adjustments to Purchase Price Allocations (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
Business Acquisition [Line Items]
Goodwill	$ 3,790,016	$ 3,758,177		$ 2,418,832
Series of Individually Immaterial Business Acquisitions [Member]
Business Acquisition [Line Items]
Fixed assets	3,345		$ (1,477)
Intangibles	8,436		19,791
Goodwill	25,519		41,190
Accounts receivable	1,715		4,217
Net other assets/ (liabilities)	133		59
Current liabilities	(201)		(4,650)
Net deferred tax liabilities	(1,050)		(3,377)
Total purchase price allocation	$ 37,897		$ 55,753

NEW ACCOUNTING STANDARDS - Addi

NEW ACCOUNTING STANDARDS - Additional Information (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)
Accounting Changes And Error Corrections [Abstract]
Income tax effects in earnings	$ 2.9

FAIR VALUE MEASUREMENTS - Fair

FAIR VALUE MEASUREMENTS - Fair Value Measurements (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Assets:
Cash and cash equivalents	$ 45,655	$ 55,634
Short-term investments	64	69
Derivative financial instruments	954	1,207
Total assets	46,673	56,910
Liabilities:
Contingent consideration	22,967	25,390
Total liabilities	22,967	25,390
Level 1 Inputs [Member]
Assets:
Cash and cash equivalents	45,655	55,634
Short-term investments	64	69
Derivative financial instruments	0	0
Total assets	45,719	55,703
Liabilities:
Contingent consideration	0	0
Total liabilities	0	0
Level 2 Inputs [Member]
Assets:
Cash and cash equivalents	0	0
Short-term investments	0	0
Derivative financial instruments	954	1,207
Total assets	954	1,207
Liabilities:
Contingent consideration	0	0
Total liabilities	0	0
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	22,967	25,390
Total liabilities	$ 22,967	$ 25,390

FAIR VALUE MEASUREMENTS - Addit

FAIR VALUE MEASUREMENTS - Additional Information (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Derivative asset	$ 954	$ 1,207
Contingent consideration liabilities	22,967	25,390
Debt obligations, carrying amount	3,152,149	3,214,048
Maximum
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Maximum contingent liability if financial performance measures were fully met	40,200
Level 3 Inputs [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Derivative asset	0	0
Contingent consideration liabilities	22,967	25,390
Level 3 Inputs [Member] | Current Liabilities [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Contingent consideration liabilities	6,900
Level 2 Inputs [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Derivative asset	954	1,207
Contingent consideration liabilities	0	0
Debt obligations, fair value	$ 3,130,000	$ 3,220,000

FAIR VALUE MEASUREMENTS - Chang

FAIR VALUE MEASUREMENTS - Changes to Contingent Consideration (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Business Combination, Contingent Consideration, Liability [Roll Forward]
Contingent consideration at January 1, 2016	$ 25,390
Increases due to acquisitions	57	$ 13,301
Decrease due to payments	(1,000)
Changes due to foreign currency fluctuations	1,164
Changes in fair value reflected in Selling, general, and administrative expenses	(2,644)
Contingent consideration at March 31, 2016	$ 22,967

INCOME TAXES (Details)

INCOME TAXES (Details)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Effective tax rate	32.90%	29.70%

STOCK BASED COMPENSATION - Expe

STOCK BASED COMPENSATION - Expense Resulting from Stock Option Awards and ESPP (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 6,105	$ 5,487
Stock Options [Member] | Cost of revenues
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	15	23
Stock Options [Member] | Selling, general and administrative expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	4,752	4,729
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	559	346
ESPP [Member] | Selling, general and administrative expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 779	$ 389

STOCK BASED COMPENSATION - Stoc

STOCK BASED COMPENSATION - Stock Option Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Number of Options
Outstanding at beginning of year	5,334,803
Granted	1,008,569	860,534
Exercised	(306,088)
Forfeited	(28,412)
Canceled or expired	(1,939)
Outstanding at March 31, 2016	6,006,933
Exercisable at March 31, 2016	3,225,121
Weighted Average Exercise Price per Share
Outstanding at beginning of year	$ 92.02
Granted	111.29
Exercised	73.22
Forfeited	118.19
Canceled or expired	86.92
Outstanding at March 31, 2016	96.10
Exercisable at March 31, 2016	$ 80.59
Weighted Average Remaining Contractual Life
Outstanding at March 31, 2016	5 years 11 months 1 day
Exercisable at March 31, 2016	4 years 11 months 5 days
Total Aggregate Intrinsic Value
Outstanding at March 31, 2016	$ 185,247
Exercisable at March 31, 2016	$ 147,947

STOCK BASED COMPENSATION - Addi

STOCK BASED COMPENSATION - Additional Information (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)shares
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expenses related to non-vested option awards	$ 38.7
Weighted average period of recognition for unrecognized compensation expenses	3 years 6 months 29 days
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period of recognition for unrecognized compensation expenses	3 years 1 month 24 days
Award vesting period	annually
Ratio of share reserve related to RSUs granted | shares	2
Unrecognized compensation expenses related to RSUs	$ 8.9
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

STOCK BASED COMPENSATION - Intr

STOCK BASED COMPENSATION - Intrinsic Value of Options Exercised (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Total intrinsic value of options exercised	$ 13,229	$ 29,525

STOCK BASED COMPENSATION - Assu

STOCK BASED COMPENSATION - Assumptions used in Black-Scholes Model (Detail) - $ / shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock options granted (shares)	1,008,569	860,534
Weighted average fair value at grant date	$ 20.19	$ 22.84
Expected term (in years)	4 years 9 months 4 days	4 years 9 months 15 days
Expected volatility	18.02%	16.62%
Expected dividend yield	0.00%	0.00%
Risk free interest rate	1.26%	1.48%

STOCK BASED COMPENSATION - Rest

STOCK BASED COMPENSATION - Restricted Stock Units Activity (Detail) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)$ / sharesshares
Number of Restricted Stock Units
Non-vested at beginning of year | shares	71,451
Granted | shares	53,267
Non-vested at March 31, 2016 | shares	124,718
Weighted Average Grant Date Fair Value Per Share
Non-vested at beginning of year | $ / shares	$ 101.29
Granted | $ / shares	111.12
Non-vested at March 31, 2016 | $ / shares	$ 105.57
Weighted Average Remaining Contractual Life
Non-vested at March 31, 2016	2 years 4 months 2 days
Total Aggregate Intrinsic Value
Non-vested at March 31, 2016 | $	$ 15,738

PREFERRED STOCK - Additional In

PREFERRED STOCK - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	Sep. 15, 2015	Mar. 31, 2016	Dec. 31, 2015
Class of Stock [Line Items]
Depositary Shares, Liquidation Preference Per Share	$ 100
Series A preferred stock
Class of Stock [Line Items]
Preferred stock, authorized (in shares)		1,000,000	1,000,000
Preferred stock, issued (in shares)		770,000	770,000
Depositary shares (in shares)	7,700,000
Preferred stock, dividend rate	5.25%
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Issuance of preferred stock (in dollars per share)	$ 100
Gross proceeds from issuance of preferred stock	$ 770
Preferred stock, liquidation preference (in dollars per share)	$ 1,000
Series A preferred stock | Minimum
Class of Stock [Line Items]
Common stock issuable upon conversion (in shares)	5.8716
Series A preferred stock | Maximum
Class of Stock [Line Items]
Common stock issuable upon conversion (in shares)	7.3394

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
	Mar. 31, 2016	Mar. 31, 2015
Numerator:
Net income attributable to Stericycle, Inc.	$ 76,786	$ 75,458
Less: mandatory convertible preferred stock dividend	10,106	0
Net Income Attributable to Stericycle, Inc. Common Shareholders	$ 66,680	$ 75,458
Denominator:
Denominator for basic earnings per share-weighted average shares (in shares)	84,705,000	85,037,823
Effect of diluted securities:
Employee stock based awards (in shares)	1,140,501	1,319,183
Mandatory convertible preferred stock (in shares)	0	0
Denominator for diluted earnings per share-adjusted weighted average shares and after assumed exercises (in shares)	85,845,501	86,357,006
Earnings per share – Basic (in dollars per share)	$ 0.79	$ 0.89
Earnings per share – Diluted (in dollars per share)	$ 0.78	$ 0.87
Series A preferred stock
Effect of diluted securities:
Antidilutive shares excluded from computation of diluted earnings per share (in shares)	5,651,376

GOODWILL AND OTHER INTANGIBLE47

GOODWILL AND OTHER INTANGIBLE ASSETS - Additional Information (Detail) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016USD ($)Segment	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)
Intangible Assets By Major Class [Line Items]
Number of geographical reportable segments | Segment	2
Aggregate amortization expense | $	$ 18,274	$ 8,797	$ 45,498
Customer relationships
Intangible Assets By Major Class [Line Items]
Finite lived intangible assets, weighted average remaining useful life	19 years 1 month 6 days
Customer relationships | Maximum
Intangible Assets By Major Class [Line Items]
Finite-lived intangible assets, useful life	40 years
Customer relationships | Minimum
Intangible Assets By Major Class [Line Items]
Finite-lived intangible assets, useful life	10 years
Covenants not-to-compete
Intangible Assets By Major Class [Line Items]
Finite lived intangible assets, weighted average remaining useful life	4 years 4 months 24 days
Covenants not-to-compete | Maximum
Intangible Assets By Major Class [Line Items]
Finite-lived intangible assets, useful life	14 years
Covenants not-to-compete | Minimum
Intangible Assets By Major Class [Line Items]
Finite-lived intangible assets, useful life	5 years
Tradenames
Intangible Assets By Major Class [Line Items]
Finite lived intangible assets, weighted average remaining useful life	16 years 10 months 24 days
Tradenames | Maximum
Intangible Assets By Major Class [Line Items]
Finite-lived intangible assets, useful life	40 years
Tradenames | Minimum
Intangible Assets By Major Class [Line Items]
Finite-lived intangible assets, useful life	15 years
Other
Intangible Assets By Major Class [Line Items]
Finite lived intangible assets, weighted average remaining useful life	18 years 6 months

GOODWILL AND OTHER INTANGIBLE48

GOODWILL AND OTHER INTANGIBLE ASSETS - Changes in Carrying Amount of Goodwill (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Goodwill [Roll Forward]
Beginning Balance	$ 3,758,177	$ 2,418,832
Goodwill acquired during the year, net	17,840	1,450,950
Purchase accounting allocation adjustments	7,679	(28,277)
Goodwill other changes		(440)
Changes due to foreign currency fluctuations	6,320	(82,888)
Ending Balance	3,790,016	3,758,177
United States
Goodwill [Roll Forward]
Beginning Balance	2,972,275	1,838,739
Goodwill acquired during the year, net	17,390	1,177,431
Purchase accounting allocation adjustments	6,305	(43,895)
Ending Balance	2,995,970	2,972,275
International
Goodwill [Roll Forward]
Beginning Balance	785,902	580,093
Goodwill acquired during the year, net	450	273,519
Purchase accounting allocation adjustments	1,374	15,618
Goodwill other changes		(440)
Changes due to foreign currency fluctuations	6,320	(82,888)
Ending Balance	$ 794,046	$ 785,902

GOODWILL AND OTHER INTANGIBLE49

GOODWILL AND OTHER INTANGIBLE ASSETS - Values of Intangible Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Intangible Assets By Major Class [Line Items]
Gross Carrying Amount	$ 2,011,351	$ 1,993,586
Accumulated Amortization	170,507	151,025
Net Value	1,840,844	1,842,561	$ 909,645
Operating permits
Intangible Assets By Major Class [Line Items]
Gross Carrying Amount	234,888	233,101
Net Value	234,888	233,101
Tradenames
Intangible Assets By Major Class [Line Items]
Gross Carrying Amount	428,282	426,498
Net Value	428,282	426,498
Customer relationships
Intangible Assets By Major Class [Line Items]
Gross Carrying Amount	1,319,782	1,304,388
Accumulated Amortization	162,831	144,020
Net Value	1,156,951	1,160,368
Covenants not-to-compete
Intangible Assets By Major Class [Line Items]
Gross Carrying Amount	7,630	6,878
Accumulated Amortization	5,340	5,141
Net Value	2,290	1,737
Tradenames
Intangible Assets By Major Class [Line Items]
Gross Carrying Amount	3,935	3,819
Accumulated Amortization	1,022	948
Net Value	2,913	2,871
Other
Intangible Assets By Major Class [Line Items]
Gross Carrying Amount	16,834	18,902
Accumulated Amortization	1,314	916
Net Value	$ 15,520	$ 17,986

GOODWILL AND OTHER INTANGIBLE50

GOODWILL AND OTHER INTANGIBLE ASSETS - Rollforward of Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Finite-lived and Indefinite-lived Intangible Assets [Roll Forward]
Beginning of period	$ 1,842,561	$ 909,645	$ 909,645
Intangible assets acquired during the year, net	8,436		1,052,016
Impairments during the year			(4,177)
Amortization during the year	(18,274)	$ (8,797)	(45,498)
Changes due to foreign currency fluctuations	8,121		(69,425)
End of period	$ 1,840,844		$ 1,842,561

GOODWILL AND OTHER INTANGIBLE51

GOODWILL AND OTHER INTANGIBLE ASSETS - Estimated Amortization Expense (Detail) $ in Thousands	Mar. 31, 2016USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
2,016	$ 72,287
2,017	72,300
2,018	72,252
2,019	72,095
2,020	$ 71,805

ENVIRONMENTAL REMEDIATION LIA52

ENVIRONMENTAL REMEDIATION LIABILITIES - Additional Information (Details) $ in Millions	Mar. 31, 2016USD ($)
Site Contingency [Line Items]
Environmental remediation liabilities	$ 30.4
Accrued Liabilities [Member]
Site Contingency [Line Items]
Environmental remediation liabilities	1.5
Other Liabilities [Member]
Site Contingency [Line Items]
Environmental remediation liabilities	$ 28.9

DEBT - Schedule of Long-Term De

DEBT - Schedule of Long-Term Debt (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Total debt	$ 3,152,149,000	$ 3,214,048,000
Less: current portion of total debt	114,066,000	161,409,000
Long-term portion of total debt	3,038,083,000	3,052,639,000
Obligations under capital leases
Debt Instrument [Line Items]
Total debt	14,308,000	15,024,000
$1.20 billion senior credit facility weighted average rate 1.87%, due in 2019
Debt Instrument [Line Items]
Total debt	455,911,000	353,763,000
Maximum borrowing capacity of line of credit facility	$ 1,200,000,000
Long-term Debt, Weighted Average Interest Rate	1.87%
$1.08 billion term loan weighted average rate 1.81%, due in 2020
Debt Instrument [Line Items]
Total debt	$ 1,079,000,000	1,250,000,000
Maximum borrowing capacity of line of credit facility	$ 1,080,000,000
Stated interest rate	1.81%
$175 million private placement notes 3.89%, due in 2017
Debt Instrument [Line Items]
Total debt	$ 175,000,000	175,000,000
Stated interest rate	3.89%
Long-term debt, face amount	$ 175,000,000
$125 million private placement notes 2.68%, due in 2019
Debt Instrument [Line Items]
Total debt	$ 125,000,000	125,000,000
Stated interest rate	2.68%
Long-term debt, face amount	$ 125,000,000
$225 million private placement notes 4.47%, due in 2020
Debt Instrument [Line Items]
Total debt	$ 225,000,000	225,000,000
Stated interest rate	4.47%
Long-term debt, face amount	$ 225,000,000
$150 million private placement notes 2.89%, due in 2021
Debt Instrument [Line Items]
Total debt	$ 150,000,000	150,000,000
Stated interest rate	2.89%
Long-term debt, face amount	$ 150,000,000
$125 million private placement notes 3.26%, due in 2022
Debt Instrument [Line Items]
Total debt	$ 125,000,000	125,000,000
Stated interest rate	3.26%
Long-term debt, face amount	$ 125,000,000
$200 million private placement notes 2.72%, due in 2022
Debt Instrument [Line Items]
Total debt	$ 200,000,000	200,000,000
Stated interest rate	2.72%
Long-term debt, face amount	$ 200,000,000
$100 million private placement notes 2.79%, due in 2023
Debt Instrument [Line Items]
Total debt	$ 100,000,000	100,000,000
Stated interest rate	2.79%
Long-term debt, face amount	$ 100,000,000
$150 million private placement notes 3.18%, due in 2023
Debt Instrument [Line Items]
Total debt	$ 150,000,000	150,000,000
Stated interest rate	3.18%
Long-term debt, face amount	$ 150,000,000
Promissory notes and deferred consideration weighted average rate of 2.35% and weighted average maturity of 3.1 years
Debt Instrument [Line Items]
Total debt	$ 246,442,000	239,731,000
Long-term Debt, Weighted Average Interest Rate	2.35%
Long Term Debt Maturity	3 years 1 month 6 days
Foreign bank debt weighted average rate 7.40% and weighted average maturity of 2.0 years
Debt Instrument [Line Items]
Total debt	$ 106,488,000	$ 105,530,000
Long-term Debt, Weighted Average Interest Rate	7.40%
Long Term Debt Maturity	2 years

DEBT - Additional Information (

DEBT - Additional Information (Detail) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
$1.20 billion senior credit facility weighted average rate 1.87%, 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	159,800,000	$ 160,400,000
Revolving credit facility, unused portion	584,300,000	$ 685,800,000
Term loan maturing in August 2020
Debt Instrument [Line Items]
Maximum borrowing capacity of line of credit facility	1,080,000,000
$175 million private placement notes 3.89%, due in 2017
Debt Instrument [Line Items]
Long-term debt, face amount	175,000,000
$125 million private placement notes 2.68%, due in 2019
Debt Instrument [Line Items]
Long-term debt, face amount	125,000,000
$225 million private placement notes 4.47%, due in 2020
Debt Instrument [Line Items]
Long-term debt, face amount	225,000,000
$150 million private placement notes 2.89%, due in 2021
Debt Instrument [Line Items]
Long-term debt, face amount	150,000,000
$125 million private placement notes 3.26%, due in 2022
Debt Instrument [Line Items]
Long-term debt, face amount	125,000,000
$200 million private placement notes 2.72%, due in 2022
Debt Instrument [Line Items]
Long-term debt, face amount	200,000,000
$100 million private placement notes 2.79%, due in 2023
Debt Instrument [Line Items]
Long-term debt, face amount	100,000,000
$150 million private placement notes 3.18%, due in 2023
Debt Instrument [Line Items]
Long-term debt, face amount	$ 150,000,000

GEOGRAPHIC INFORMATION - Additi

GEOGRAPHIC INFORMATION - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2016Segment
Segment Reporting [Abstract]
Number of operating segments	2
Number of reportable segments	2

GEOGRAPHIC INFORMATION - Detail

GEOGRAPHIC INFORMATION - Detailed Information for Reporting Segment (Detail) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Segment Reporting Information [Line Items]
Revenues	$ 874,181	$ 663,319
Income before income taxes	115,631	107,857
Income taxes	38,036	32,047
Net Income	77,595	75,810	$ 268,013
Less: net income attributable to noncontrolling interests	809	352
Net Income Attributable to Stericycle, Inc.	76,786	75,458
United States
Segment Reporting Information [Line Items]
Revenues	649,668	472,248
Net interest expense	19,883	10,845
Income before income taxes	108,313	102,890
Income taxes	38,814	37,880
Net Income Attributable to Stericycle, Inc.	69,499	65,010
Depreciation and amortization	31,570	16,140
United States | Regulated and Compliance Solutions
Segment Reporting Information [Line Items]
Revenues	624,878	452,269
United States | Recall and Returns Solutions
Segment Reporting Information [Line Items]
Revenues	24,790	19,979
International
Segment Reporting Information [Line Items]
Net interest expense	4,158	7,753
Income before income taxes	7,318	4,967
Income taxes	(778)	(5,833)
Net Income	8,096	10,800
Less: net income attributable to noncontrolling interests	809	352
Net Income Attributable to Stericycle, Inc.	7,287	10,448
Depreciation and amortization	16,844	11,423
International | Regulated and Compliance Solutions
Segment Reporting Information [Line Items]
Revenues	$ 224,513	$ 191,071