Republic Services Files Q2 2024 10-Q

TL;DR

**RSG Q2 2024 10-Q FILED: Financials and operations details out.**

AI Summary

Republic Services, Inc. filed its 10-Q for the period ending June 30, 2024. The filing covers the second quarter of 2024, detailing financial performance and operational updates. Key financial data and business segments are presented for the reporting period and comparative periods.

Why It Matters

This filing provides investors and analysts with the latest financial results and operational details for Republic Services, a major player in the waste management industry.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.

Key Numbers

• 2024 Q2 — Reporting Period (Second quarter of 2024 financial reporting)
• 2023-12-31 — Prior Year End (Balance sheet data comparison)
• 2023-06-30 — Prior Year Q2 (Second quarter of 2023 financial reporting)

Key Players & Entities

• REPUBLIC SERVICES, INC. (company) — Filer
• 20240630 (date) — Period of Report
• 20240725 (date) — Filed as of Date
• PHOENIX (location) — Business Address City

FAQ

Key Financial Figures

• $0.01 — ch registered Common Stock, par value $0.01 per share RSG New York Stock Exchange

Filing Documents

• rsg-20240630.htm (10-Q) — 2309KB
• rsgex31163024.htm (EX-31.1) — 10KB
• rsgex31263024.htm (EX-31.2) — 10KB
• rsgex32163024.htm (EX-32.1) — 4KB
• rsgex32263024.htm (EX-32.2) — 5KB
• 0001060391-24-000273.txt ( ) — 11271KB
• rsg-20240630.xsd (EX-101.SCH) — 66KB
• rsg-20240630_cal.xml (EX-101.CAL) — 126KB
• rsg-20240630_def.xml (EX-101.DEF) — 289KB
• rsg-20240630_lab.xml (EX-101.LAB) — 773KB
• rsg-20240630_pre.xml (EX-101.PRE) — 559KB
• rsg-20240630_htm.xml (XML) — 2092KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements 3 Consolidated Balance Sheets as of June 30, 2024 (Unaudited) and December 31, 2023 3 Unaudited Consolidated Statement of Income for the Three and Six Months Ended June 30, 2024 and 2023 4 Unaudited Consolidated Statement of Comprehensive Income for the Three and Six Months Ended June 30, 2024 and 2023 5 Unaudited Consolidated Statement of Stockholders' Equity for the Three and Six Months Ended June 30, 2024 and 2023 6 Unaudited Consolidated Statement of Cash Flows for the Six Months Ended June 30, 2024 and 2023 7 Notes to Unaudited Consolidated Financial Statements 8

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 30

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 47

Controls and Procedures

Item 4. Controls and Procedures 48

— OTHER INFORMATION

PART II — OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 49

Risk Factors

Item 1A. Risk Factors 49

Unregistered Sales of Equity Securities and Use of Proceeds , and Issuer Purchases of Equity Securities

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds , and Issuer Purchases of Equity Securities 50

Defaults upon Senior Securities

Item 3. Defaults upon Senior Securities 50

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 50

Other Information

Item 5. Other Information 50

Exhibits

Item 6. Exhibits 51

Signatures

Signatures 52 2 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS. REPUBLIC SERVICES, INC. CONSOLIDATED BALANCE SHEETS (in millions, except per share data) June 30, December 31, 2024 2023 (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 490.6 $ 140.0 Accounts receivable, less allowance for doubtful accounts and other of $ 82.9 and $ 83.2 , respectively 1,817.8 1,768.4 Prepaid expenses and other current assets 351.3 472.6 Total current assets 2,659.7 2,381.0 Restricted cash and marketable securities 178.0 163.6 Property and equipment, net 11,446.5 11,350.9 Goodwill 15,864.9 15,834.5 Other intangible assets, net 463.4 496.2 Other assets 1,321.6 1,183.9 Total assets $ 31,934.1 $ 31,410.1 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 1,285.5 $ 1,411.5 Notes payable and current maturities of long-term debt 1,432.9 932.3 Deferred revenue 472.5 467.3 Accrued landfill and environmental costs, current portion 140.5 141.6 Accrued interest 103.1 104.1 Other accrued liabilities 1,099.1 1,171.5 Total current liabilities 4,533.6 4,228.3 Long-term debt, net of current maturities 11,526.8 11,887.1 Accrued landfill and environmental costs, net of current portion 2,332.2 2,281.0 Deferred income taxes and other long-term tax liabilities, net 1,569.2 1,526.8 Insurance reserves, net of current portion 365.8 348.8 Other long-term liabilities 600.2 594.6 Commitments and contingencies Stockholders' equity: Preferred stock, par value $ 0.01 per share; 50 shares authorized; none issued — — Common stock, par value $ 0.01 per share; 750 shares authorized; 321.2 and 320.7 issued including shares held in treasury, respectively 3.2 3.2 Additional paid-in capital 2,932.2 2,900.8 Retained earnings 9,060.7 8,433.9 Treasury stock, at cost; 7.2 and 6.1 shares, respectively ( 981.9 ) ( 783.5 ) Accumulated other comprehensive loss, net of tax ( 9.1 ) ( 12.1 ) Total Republic Services, Inc. stockholders' equity 11,005.1 10,542.3 Non-controlling inter

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View this 10-Q filing on SEC EDGAR