CLEAN HARBORS INC
For the period ended Dec 31, 2024. Filed Feb 19, 2025.
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FY2024 · Filed Feb 19, 2025
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(7) Property, Plant and Equipment
Property, plant and equipment consisted of the following (in thousands):
| December 31, 2024 | December 31, 2023 | |
|---|---|---|
| Land | $184,191 | $174,891 |
| Asset retirement costs (non-landfill) | 38,705 | 27,167 |
| Landfill assets | 258,138 | 253,180 |
| Buildings and improvements (1) | 719,439 | 630,525 |
| Vehicles (2) | 1,455,530 | 1,276,567 |
| Equipment (3) | 2,600,085 | 2,388,370 |
| Construction in progress | 70,305 | 213,601 |
| 5,326,393 | 4,964,301 | |
| Less - accumulated depreciation and amortization | 2,878,452 | 2,770,983 |
| Total property, plant and equipment, net | $2,447,941 | $2,193,318 |
(1) Balances inclusive of gross ROU assets classified as finance leases of $8.0 million in both periods.
(2) Balances inclusive of gross ROU assets classified as finance leases of $230.5 million and $151.7 million, respectively.
(3) Balances inclusive of gross ROU assets classified as finance leases of $9.2 million in both periods.
Depreciation expense, inclusive of landfill and finance lease amortization was $346.5 million, $315.5 million and $297.4 million for the years ended December 31, 2024, 2023 and 2022, respectively. The Company recorded $11.2 million, $6.6 million and $3.4 million of capitalized interest in 2024, 2023 and 2022, respectively, mainly due to the construction of thenew incinerator in Kimball, Nebraska.
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