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REVENUES
 6 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
REVENUES REVENUES
The Company generates revenues through the following operating segments: Environmental Services and Safety-Kleen Sustainability Solutions (“SKSS”). The Company’s Environmental Services operating segment generally has four sources of revenue
and the SKSS operating segment has two sources of revenue. The Company disaggregates third-party revenues by geographic location and source of revenue as management believes these categories depict how revenue and cash flows are affected by economic factors. The tables below present revenue billed to outside customers by a particular segment. Should it be necessary, there will be intercompany transactions to present the direct revenues in the appropriate segment results. The Company’s significant sources of revenue include:
Technical Services—Technical Services contribute to the revenues of the Environmental Services operating segment. Revenues for these services are generated from fees charged for waste material management and disposal services including onsite environmental management services, collection and transportation, packaging, recycling, treatment and disposal of waste and remediation projects. These services handle hazardous and/or non-hazardous waste, including per- and polyfluoroalkyl substances (“PFAS”). Revenue is primarily generated by short-term projects, most of which are governed by master service agreements that are long-term in nature and outline the pricing and legal frameworks for such arrangements. Services are provided based on purchase orders or agreements with the customer and include prices based upon units of volume of waste, material and personnel costs as well as transportation and other fees. Collection and transportation revenues are recognized over time, as the customer receives and consumes the benefits of the services as they are being performed and the Company has a right to payment for performance completed to date. The Company uses the input method to recognize revenue over time, based on time and materials incurred as a basis for measuring the satisfaction of the performance obligation. Revenues for treatment and disposal of waste are recognized upon completion of treatment, final disposition, or when the waste is shipped to a third-party for processing and disposal. The Company periodically enters into bundled arrangements for the collection and transportation and disposal of waste. For such arrangements, transportation and disposal are considered distinct performance obligations and the Company allocates revenue to each based on the relative standalone selling price (i.e., the estimated price that a customer would pay for the services on a standalone basis). Revenues and the related costs from waste that is not yet completely processed and disposed of are deferred. The deferred revenues and costs are recognized when the services are completed. The period between collection and transportation and the final processing and disposal ranges depending on the location of the customer, but generally is measured in days.
Industrial Services—Industrial Services contribute to the revenues of the Environmental Services operating segment. These revenues are primarily generated from industrial and specialty services provided to refineries, chemical plants, manufacturing facilities, power generation companies and other industrial customers throughout North America. Services include in-plant cleaning and maintenance services, plant outage and turnaround services, specialty cleaning services including chemical cleaning, pigging and high and ultra-high pressure water cleaning, leak detection and repair, daylighting, production services and upstream energy services. Services are provided based on purchase orders or agreements with the customer and include prices based upon daily, hourly or job rates for equipment, materials and personnel. The Company recognizes revenue for these services over time, as the customer receives and consumes the benefits of the services as they are being performed and the Company has a right to payment for performance completed to date. The Company uses the input method to recognize revenue over time, based on time and materials incurred.
Field and Emergency Response Services—Field and Emergency Response Services, which includes contributions from Hepaco Blocker, Inc. and its subsidiaries (collectively, “HEPACO”) since its acquisition on March 22, 2024, contribute to the revenues of the Environmental Services operating segment. Field Services revenues are generated from cleanup services at customer sites, including those managed by municipalities and utility providers, or other locations on a scheduled or emergency response basis. Services include confined space entry for tank cleaning, site decontamination, environmental remediation, railcar cleaning, manhole/vault clean outs, product recovery and transfer and vacuum services. Additional services include filtration, water treatment services and wetland restoration. Response services for environmental emergencies of any scale range from man-made disasters such as oil spills to natural disasters like hurricanes. Emergency response services also include spill cleanup on land and water, as well as contagion disinfection, decontamination and disposal services. Field and emergency response services are provided based on purchase orders or agreements with customers and include prices generally based upon daily, hourly or job rates for equipment, materials and personnel. The Company recognizes revenue for these services over time, as the customer receives and consumes the benefits of the services as they are being performed and the Company has a right to payment for performance completed to date. The Company uses the input method to recognize revenue over time, based on time and materials incurred. The duration of such services can be over a number of hours, several days or even months for larger scale projects.
Safety-Kleen Environmental Services—Safety-Kleen Environmental Services revenues contribute both to the Environmental Services operating segment and the SKSS operating segment. Revenues from providing containerized waste handling and disposal services, parts washer services and vacuum services, referred to collectively as the Safety-Kleen branches’ core service offerings, contribute to the revenues of the Environmental Services operating segment. In addition, sales of packaged blended oil products and other complementary product sales contribute to the revenues of the Environmental Services operating segment. Revenues generated from waste oil, anti-freeze and oil filter collection services, sales of bulk blended oil products and sales of bulk automotive fluids contribute to the SKSS operating segment. Due to the complementary nature of these products and services and their customer base,
there are some cross-overs of Safety-Kleen Environmental Services revenue streams between the Environmental Services and SKSS operating segments.
Generally, the revenue from services is recognized over time, as the customer receives and consumes the benefits of the services as they are being performed and the Company has a right to payment for performance completed to date. The duration of such services can be over a number of hours or several days. The Company uses the input method to recognize revenue over time, based on time and materials incurred. Product revenue is recognized upon the transfer of control whereby control transfers when the products are delivered to the customer. Containerized waste services consist of profiling, collecting, transporting and recycling or disposing of a wide variety of waste. Related collection and transportation revenues are recognized over time, as the customer receives and consumes the benefits of the services as they are being performed and the Company has a right to payment for performance completed to date. Parts washer services include customer use of the Company’s parts washer equipment, cleaning and maintenance of the parts washer equipment and removal and replacement of used cleaning fluids. Parts washer services are considered a single performance obligation due to the highly integrated and interdependent nature of the arrangement. Revenue from parts washer services is recognized over the service interval as the customer receives the benefit of the services.
Safety-Kleen Oil—Safety-Kleen Oil related sales contribute to the revenues of the SKSS segment. These revenues are generated from bulk sales of high-quality base and blended lubricating oils to many industries, including major oil brands, lubricant blenders and manufacturers, blended lubricant distributors and government agencies. The business also sells recycled fuel oil to asphalt plants, industrial plants and pulp and paper companies. The used oil is also processed into vacuum gas oil which can be further re-refined into lubricant base oils or sold directly into the marine diesel oil fuel market. By-products coming off the refinery are a mixture of light end distillates and asphalt flux that are sold into various markets. Revenue for oil products is recognized at a point in time, upon the transfer of control. Generally, control transfers when the products are delivered to the customer.
The following tables present the Company’s third-party revenue disaggregated by source of revenue and geography (in thousands):
Three Months Ended June 30, 2025
Environmental ServicesSafety-Kleen Sustainability SolutionsCorporateTotal
Primary Geographical Markets
United States$1,208,770 $194,110 $89 $1,402,969 
Canada121,289 25,596 — 146,885 
Total third-party revenues$1,330,059 $219,706 $89 $1,549,854 
Sources of Revenue
Technical Services$463,421 $— $— $463,421 
Industrial Services and Other
361,580 — 89 361,669 
Field and Emergency Response Services242,791 — — 242,791 
Safety-Kleen Environmental Services262,267 72,463 — 334,730 
Safety-Kleen Oil— 147,243 — 147,243 
Total third-party revenues$1,330,059 $219,706 $89 $1,549,854 
Three Months Ended June 30, 2024
Environmental ServicesSafety-Kleen Sustainability SolutionsCorporateTotal
Primary Geographical Markets
United States$1,175,328 $232,789 $99 $1,408,216 
Canada121,970 22,533 — 144,503 
Total third-party revenues$1,297,298 $255,322 $99 $1,552,719 
Sources of Revenue
Technical Services$443,668 $— $— $443,668 
Industrial Services and Other359,471 — 99 359,570 
Field and Emergency Response Services252,893 — — 252,893 
Safety-Kleen Environmental Services241,266 58,421 — 299,687 
Safety-Kleen Oil— 196,901 — 196,901 
Total third-party revenues$1,297,298 $255,322 $99 $1,552,719 
Six Months Ended June 30, 2025
Environmental ServicesSafety-Kleen Sustainability SolutionsCorporateTotal
Primary Geographical Markets
United States$2,325,037 $394,129 $186 $2,719,352 
Canada212,060 50,392 — 262,452 
Total third-party revenues$2,537,097 $444,521 $186 $2,981,804 
Sources of Revenue
Technical Services$889,626 $— $— $889,626 
Industrial Services and Other
683,938 — 186 684,124 
Field and Emergency Response Services458,493 — — 458,493 
Safety-Kleen Environmental Services505,040 137,364 — 642,404 
Safety-Kleen Oil— 307,157 — 307,157 
Total third-party revenues$2,537,097 $444,521 $186 $2,981,804 
Six Months Ended June 30, 2024
Environmental ServicesSafety-Kleen Sustainability SolutionsCorporateTotal
Primary Geographical Markets
United States$2,228,786 $426,701 $201 $2,655,688 
Canada229,791 43,935 — 273,726 
Total third-party revenues$2,458,577 $470,636 $201 $2,929,414 
Sources of Revenue
Technical Services$851,159 $— $— $851,159 
Industrial Services and Other718,868 — 201 719,069 
Field and Emergency Response Services416,362 — — 416,362 
Safety-Kleen Environmental Services472,188 111,442 — 583,630 
Safety-Kleen Oil— 359,194 — 359,194 
Total third-party revenues$2,458,577 $470,636 $201 $2,929,414 
Contract Balances
(in thousands)June 30, 2025December 31, 2024
Receivables$1,117,714 $1,015,357 
Contract assets (unbilled receivables)177,910 162,215 
Contract liabilities (deferred revenue)87,792 88,545 
The timing of revenue recognition, billings and cash collections results in billed accounts receivable, unbilled receivables (contract assets) and customer advances and deposits or deferred revenue (contract liabilities) on the consolidated balance sheet. Generally, billing occurs subsequent to revenue recognition, as a right to payment is not just subject to passage of time, resulting in contract assets, which are generally classified as current. The Company sometimes receives advances or deposits from its customers before revenue is recognized, resulting in contract liabilities. These assets and liabilities are reported on the consolidated balance sheet on a contract-by-contract basis at the end of each reporting period. The contract liability balances at the beginning of each period presented are generally fully recognized in the subsequent three-month period.