EXHIBIT 12.1
Ratio of Earnings to Fixed Charges
CLEAN HARBORS, INC.
Offer to Exchange 75/8% Senior Secured Notes due 2016
Registered under the Securities Act of 1933 for
All Outstanding Unregistered 75/8% Senior Secured Notes due 2016
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| For the Six Months |
| For the Year Ended December 31, |
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| 2009 |
| 2008 |
| 2008 |
| 2007 |
| 2006 |
| 2005 |
| 2004 |
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| (Dollars in thousands) |
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Income from operations before income taxes |
| $ | 24,198 |
| $ | 43,902 |
| $ | 93,977 |
| $ | 72,238 |
| $ | 52,953 |
| $ | 29,116 |
| $ | 8,643 |
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Add (Subtract): |
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Capitalized interest |
| (110 | ) | (287 | ) | (157 | ) | (1,179 | ) | (682 | ) | (91 | ) | (1,922 | ) | |||||||
Amortization of capitalized interest |
| 282 |
| 277 |
| 541 |
| 435 |
| 294 |
| 246 |
| 24 |
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Fixed charges (see calculation below) |
| 5,981 |
| 9,609 |
| 18,736 |
| 22,897 |
| 20,259 |
| 26,803 |
| 31,985 |
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Income from operations before income taxes as adjusted |
| $ | 30,351 |
| $ | 53,508 |
| $ | 113,098 |
| $ | 94,391 |
| $ | 72,824 |
| $ | 56,074 |
| $ | 38,730 |
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Fixed charges: |
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Interest expense, net |
| $ | 2,989 |
| $ | 5,900 |
| $ | 8,403 |
| $ | 13,157 |
| $ | 12,447 |
| $ | 22,754 |
| $ | 22,297 |
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Interest income |
| 623 |
| 1,431 |
| 623 |
| 4,023 |
| 3,589 |
| 1,403 |
| 692 |
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Capitalized interest |
| 110 |
| 287 |
| 157 |
| 1,179 |
| 682 |
| 91 |
| 1,922 |
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Amortization of capitalized interest |
| (282 | ) | (270 | ) | (541 | ) | (435 | ) | (294 | ) | (246 | ) | (24 | ) | |||||||
Preferred stock dividend |
| — |
| — |
| — |
| 332 |
| 314 |
| 317 |
| 5,684 |
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Portion of operating lease rental expenses deemed to be representative of the interest factor |
| 2,541 |
| 2,275 |
| 5,624 |
| 4,641 |
| 3,521 |
| 2,484 |
| 1,414 |
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Fixed charges |
| $ | 5,981 |
| $ | 9,609 |
| $ | 18,736 |
| $ | 22,897 |
| $ | 20,259 |
| $ | 26,803 |
| $ | 31,985 |
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Ratio of earnings to fixed charges |
| 5.1x |
| 5.6x |
| 6.0x |
| 4.1x |
| 3.6x |
| 2.1x |
| 1.2x |
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