SEGMENT REPORTING (Tables)

3 Months Ended

Mar. 31, 2026

Schedule of Reconciliation of Third Party Revenues to Direct Revenues

The following tables reconcile third-party revenues to direct revenues by reportable segment (in thousands):


	For the Three Months Ended March 31, 2026
	Environmental Services		Safety-Kleen Sustainability Solutions		Total Segment Revenues		Corporate		Total Consolidated Revenues
Third-party revenues	$	1,242,448	$	217,089	$	1,459,537	$	—	$	1,459,537
Intersegment revenues (expense), net	10,078		(10,078)		—		—		—
Direct revenues	$	1,252,526	$	207,011	$	1,459,537	$	—	$	1,459,537


	For the Three Months Ended March 31, 2025
	Environmental Services		Safety-Kleen Sustainability Solutions		Total Segment Revenues		Corporate		Total Consolidated Revenues
Third-party revenues	$	1,207,038	$	224,815	$	1,431,853	$	97	$	1,431,950
Intersegment revenues (expense), net	2,075		(2,075)		—		—		—
Direct revenues	$	1,209,113	$	222,740	$	1,431,853	$	97	$	1,431,950

Schedule of Reconciliation to Consolidated Statements of Income to Adjusted EBITDA

The tables below present total Reportable Segment Adjusted EBITDA and the relevant significant segment expenses provided to the CODM by reported segment (in thousands):


	For the Three Months Ended March 31, 2026
	Environmental Services		Safety-Kleen Sustainability Solutions		Total Reportable Segments
Direct Revenues	$	1,252,526	$	207,011	$	1,459,537
Cost of Revenues	852,380		154,636		1,007,016
Selling, General and Administrative Expenses	109,745		19,394		129,139
Total Reportable Segment Adjusted EBITDA	$	290,401	$	32,981	$	323,382


	For the Three Months Ended March 31, 2025
	Environmental Services		Safety-Kleen Sustainability Solutions		Total Reportable Segments
Direct Revenues	$	1,209,113	$	222,740	$	1,431,853
Cost of Revenues	839,942		177,438		1,017,380
Selling, General and Administrative Expenses	94,580		17,050		111,630
Total Reportable Segment Adjusted EBITDA	$	274,591	$	28,252	$	302,843

The following table presents Total Reportable Segment Adjusted EBITDA reconciled to income from operations before provision for income taxes (in thousands):


	Three Months Ended
	March 31,
		2026		2025
Adjusted EBITDA:
Environmental Services		$	290,401	$	274,591
Safety-Kleen Sustainability Solutions		32,981		28,252
Total Reportable Segment Adjusted EBITDA		323,382		302,843
Reconciliation to Consolidated Statements of Operations:
Corporate Costs(1)		75,528		67,989
Accretion of environmental liabilities		3,542		3,620
Stock-based compensation		9,578		7,635
Depreciation and amortization		115,799		111,980

Income from operations		118,935		111,619
Other expense, net		731		932


Interest expense, net of interest income		33,854		36,077
Income from operations before provision for income taxes		$	84,350	$	74,610

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(1) Corporate Costs include certain revenue, cost of revenues and selling, general and administrative expenses not managed through the Company’s operating segments. These costs are not captured within the Company’s Reportable Segment Adjusted EBITDA, but are included in the Company’s total Adjusted EBITDA balances.