Republic Services Files Q3 2024 10-Q

TL;DR

RSG's Q3 10-Q is in! Financials and ops details for waste management giant.

AI Summary

Republic Services, Inc. filed its 10-Q for the period ending September 30, 2024. The filing covers the third quarter and the first nine months of the year, detailing financial performance and operational updates. Key financial data and segment information are presented, reflecting the company's ongoing business activities in waste management and environmental services.

Why It Matters

This filing provides investors and analysts with the latest financial results and operational details for Republic Services, crucial for understanding the company's performance and future outlook in the waste management sector.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing (10-Q) and does not inherently present new risks.

Key Numbers

• 2024-09-30 — Reporting Period End Date (Indicates the end of the fiscal quarter being reported.)
• 2024-10-30 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
• 2023-12-31 — Previous Year End Date (Provides a reference point for year-over-year comparisons.)

Key Players & Entities

• REPUBLIC SERVICES, INC. (company) — Filer of the 10-Q
• 20240930 (date) — End of the reporting period
• 20241030 (date) — Filing date
• PHOENIX (location) — Company headquarters 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-20240930.htm (10-Q) — 2397KB
• rsgex31193024.htm (EX-31.1) — 10KB
• rsgex31293024.htm (EX-31.2) — 10KB
• rsgex32193024.htm (EX-32.1) — 4KB
• rsgex32293024.htm (EX-32.2) — 5KB
• 0001060391-24-000324.txt ( ) — 11527KB
• rsg-20240930.xsd (EX-101.SCH) — 67KB
• rsg-20240930_cal.xml (EX-101.CAL) — 126KB
• rsg-20240930_def.xml (EX-101.DEF) — 299KB
• rsg-20240930_lab.xml (EX-101.LAB) — 779KB
• rsg-20240930_pre.xml (EX-101.PRE) — 571KB
• rsg-20240930_htm.xml (XML) — 2140KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements 3 Consolidated Balance Sheets as of September 30, 2024 (Unaudited) and December 31, 2023 3 Unaudited Consolidated Statement of Income for the Three and Nine Months Ended September 30, 2024 and 2023 4 Unaudited Consolidated Statement of Comprehensive Income for the Three and Nine Months Ended September 30, 2024 and 2023 5 Unaudited Consolidated Statement of Stockholders' Equity for the Three and Nine Months Ended September 30, 2024 and 2023 6 Unaudited Consolidated Statement of Cash Flows for the Nine Months Ended September 30, 2024 and 2023 8 Notes to Unaudited Consolidated Financial Statements 9

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 31

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 48

Controls and Procedures

Item 4. Controls and Procedures 49

— OTHER INFORMATION

PART II — OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 50

Risk Factors

Item 1A. Risk Factors 50

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 51

Defaults upon Senior Securities

Item 3. Defaults upon Senior Securities 51

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 51

Other Information

Item 5. Other Information 51

Exhibits

Item 6. Exhibits 52

Signatures

Signatures 53 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) September 30, December 31, 2024 2023 (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 83.4 $ 140.0 Accounts receivable, less allowance for doubtful accounts and other of $ 75.2 and $ 83.2 , respectively 1,847.5 1,768.4 Prepaid expenses and other current assets 417.5 472.6 Total current assets 2,348.4 2,381.0 Restricted cash and marketable securities 203.1 163.6 Property and equipment, net 11,525.6 11,350.9 Goodwill 15,883.1 15,834.5 Other intangible assets, net 454.8 496.2 Other assets 1,399.2 1,183.9 Total assets $ 31,814.2 $ 31,410.1 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 1,225.4 $ 1,411.5 Notes payable and current maturities of long-term debt 513.0 932.3 Deferred revenue 485.5 467.3 Accrued landfill and environmental costs, current portion 140.9 141.6 Accrued interest 114.4 104.1 Other accrued liabilities 1,162.3 1,171.5 Total current liabilities 3,641.5 4,228.3 Long-term debt, net of current maturities 12,047.4 11,887.1 Accrued landfill and environmental costs, net of current portion 2,347.1 2,281.0 Deferred income taxes and other long-term tax liabilities, net 1,591.0 1,526.8 Insurance reserves, net of current portion 381.8 348.8 Other long-term liabilities 575.2 594.6 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; 321.3 and 320.7 issued including shares held in treasury, respectively 3.2 3.2 Additional paid-in capital 2,945.9 2,900.8 Retained earnings 9,443.9 8,433.9 Treasury stock, at cost; 8.0 and 6.1 shares, respectively ( 1,145.6 ) ( 783.5 ) Accumulated other comprehensive loss, net of tax ( 18.6 ) ( 12.1 ) Total Republic Services, Inc. stockholders' equity 11,228.8 10,542.3 Non-controlling

View Full Filing

View this 10-Q filing on SEC EDGAR