0001060391-25-000091 | 10-K | XBRL Viewer

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Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of components of the provision for income taxes

The components of the provision for income taxes for the years ended December 31 follow:


	2024		2023		2022
Current:
Federal	$	207	$	281	$	72
State	120		109		82
Deferred:
Federal	55		72		164
State	32		29		17
Uncertain tax positions and interest and other	(26)		(31)		9
Provision for income taxes	$	388	$	460	$	344

Schedule of reconciliations of the statutory federal income tax rate to our effective tax rate

The reconciliations of the statutory federal income tax rate to our effective tax rate for the years ended December 31 follow:


	2024		2023		2022
Federal statutory rate	21.0	%	21.0	%	21.0	%
State income taxes, net of federal benefit	4.8		4.4		4.6

Non-deductible expenses	0.8		1.2		1.1
Uncertain tax position taxes and interest	(0.3)		(0.8)		0.2
Investment tax credits	(9.9)		(4.0)		(7.6)

Other, net	(0.4)		(0.8)		(0.5)
Effective income tax rate	16.0	%	21.0	%	18.8	%

Schedule of components of the net deferred income tax asset and liability

The components of the net deferred income tax asset and liability as of December 31 follow:


	2024		2023
Deferred tax liabilities relating to:
Differences between book and tax basis of property and equipment	$	(1,258)	$	(1,229)
Difference between book and tax basis of intangible assets	(637)		(583)
Operating right-of-use lease assets	(57)		(59)
Basis difference due to redemption of partnership interests	(82)		(82)
Total deferred tax liabilities	$	(2,034)	$	(1,953)
Deferred tax assets relating to:
Environmental reserves	$	218	$	236
Accruals not currently deductible	105		105
Net operating loss carryforwards	61		75
Difference between book and tax basis of other assets	48		14

Operating right-of-use lease liabilities	59		60
Other	15		17
Total deferred tax assets	506		507
Valuation allowance	(51)		(49)
Net deferred tax asset	455		458
Net overall deferred tax liability	$	(1,579)	$	(1,495)

Schedule of changes in the deferred tax valuation allowance

Changes in the deferred tax valuation allowance for the years ended December 31 follow:


	2024		2023		2022
Valuation allowance, beginning of year	$	49	$	44	$	44
Additions charged to provision for income taxes	6		3		2
Deferred tax assets realized or written-off	—		—		(6)

Other, net	(4)		2		4
Valuation allowance, end of year	$	51	$	49	$	44

Schedule of activity in our gross unrecognized tax benefits

The following table summarizes the activity in our gross unrecognized tax benefits for the years ended December 31:


	2024		2023		2022
Balance at beginning of year	$	42	$	111	$	102
Additions for tax positions of current year	—		1		7
Additions for tax positions of prior years	1		3		2
Reductions for tax positions of prior years	(5)		(7)		—
Reductions for tax positions resulting from lapse of statute of limitations	(1)		—		—
Settlements	(9)		(66)		—
Balance at end of year	$	28	$	42	$	111

Goodwill and Other Intangible Assets, Net

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets, Net

GOODWILL AND OTHER INTANGIBLE ASSETS, NET

Goodwill

A summary of the activity and balances in goodwill accounts by reporting segment follows:


	Balance as of December 31, 2023		Acquisitions		Divestitures		Adjustments and Other		Balance as of December 31, 2024
Group 1	$	7,312	$	161	$	—	$	19	$	7,492
Group 2	6,445		—		—		(7)		6,438
Group 3	2,077		15		—		(40)		2,052
Total	$	15,834	$	176	$	—	$	(28)	$	15,982


	Balance as of December 31, 2022		Acquisitions		Divestitures		Adjustments and Other		Balance as of December 31, 2023
Group 1	$	6,638	$	675	$	—	$	(1)	$	7,312
Group 2	6,238		208		(2)		1		6,445
Group 3	1,575		275		—		227		2,077
Total	$	14,451	$	1,158	$	(2)	$	227	$	15,834

Adjustments to acquisitions during the year ended December 31, 2024 primarily related to changes in our valuation of property, plant and equipment and customer list intangible assets acquired as a result of obtaining new information regarding the acquisitions that closed in 2023. Adjustments to acquisitions during the year ended December 31, 2023 primarily related to changes in our valuation of tangible assets acquired and certain environmental liabilities assumed in connection with our acquisition of US Ecology.

Other Intangible Assets, Net

Other intangible assets, net, includes values assigned to customer relationships, non-compete agreements and trade names, and are amortized over periods ranging from 1 to 15 years. A summary of the activity and balances by intangible asset type follows:


	Gross Intangible Assets								Accumulated Amortization								Other Intangible Assets, Net as of December 31, 2024
	Balance as of December 31, 2023		Acquisitions		Adjustments and Other		Balance as of December 31, 2024		Balance as of December 31, 2023		Additions Charged to Expense		Adjustments and Other		Balance as of December 31, 2024
Customer relationships	$	632	$	38	$	20	$	690	$	(166)	$	(69)	$	20	$	(215)	$	475

Other intangible assets	53		6		32		91		(23)		(10)		13		(20)		71
Total	$	685	$	44	$	52	$	781	$	(189)	$	(79)	$	33	$	(235)	$	546


	Gross Intangible Assets								Accumulated Amortization								Other Intangible Assets, Net as of December 31, 2023
	Balance as of December 31, 2022		Acquisitions		Adjustments and Other		Balance as of December 31, 2023		Balance as of December 31, 2022		Additions Charged to Expense		Adjustments and Other		Balance as of December 31, 2023
Customer relationships	$	1,013	$	197	$	(578)	$	632	$	(709)	$	(54)	$	597	$	(166)	$	466

Other intangible assets	145		7		(99)		53		(102)		(12)		91		(23)		30
Total	$	1,158	$	204	$	(677)	$	685	$	(811)	$	(66)	$	688	$	(189)	$	496

Based on the amortizable intangible assets recorded in the consolidated balance sheet as of December 31, 2024, amortization expense for each of the next five years is estimated as follows:


2025	$	78
2026	$	74
2027	$	67
2028	$	64
2029	$	58

Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Losses accrued related to legal proceedings	$ 13
Loss contingency additional potential liability	6
Letters of credit utilizing availability our credit facilities	$ 317	$ 337
Percentage of ownership interest in company	19.90%
Outstanding amount for land fill operations	$ 1,812

Cover Page - USD ($) $ in Billions	12 Months Ended
Cover Page - USD ($) $ in Billions	Dec. 31, 2024	Feb. 06, 2025	Jun. 30, 2024
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	1-14267
Entity Registrant Name	REPUBLIC SERVICES, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	65-0716904
Entity Address, Address Line One	18500 North Allied Way
Entity Address, City or Town	Phoenix
Entity Address, State or Province	AZ
Entity Address, Postal Zip Code	85054
City Area Code	480
Local Phone Number	627-2700
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	RSG
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 61.0
Entity Common Stock, Shares Outstanding (in shares)		312,284,953
Documents Incorporated by Reference	Portions of the Registrant’s Proxy Statement relative to the 2025 Annual Meeting of Shareholders are incorporated by reference in Part III hereof.
Entity Central Index Key	0001060391
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY

Debt (Future Maturities of Debt) (Details) $ in Millions	Dec. 31, 2024 USD ($)
Future maturities of debt
2025	$ 862
2026	594
2027	663
2028	844
2029	2,179
Thereafter	7,698
Total long term debt maturities	$ 12,840

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Other Liabilities (Insurance Reserves) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Self Insurance Reserve
Balance at beginning of year	$ 566	$ 503	$ 497
Additions charged to expense	671	656	565
Payments	(701)	(636)	(594)
Premium written for third party risk assumed	86	43	35
Balance at end of year	622	566	503
Less: current portion	(220)	(217)	(188)
Long-term portion	$ 402	$ 349	$ 315

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Current assets:
Allowance for doubtful accounts	$ 74	$ 83
Stockholders’ equity:
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	750,000,000	750,000,000
Common stock, shares issued (in shares)	313,000,000	321,000,000
Treasury stock, shares (in shares)	1,000,000	6,000,000

Other Assets (Other Assets) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Other Assets
Investments	$ 637	$ 469
Operating right-of-use lease assets	$ 232	$ 238
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Total	Total
Deferred compensation plan	$ 125	$ 113
Deferred contract costs and sales commissions	82	83
Reinsurance receivable	86	92
Derivative and hedging assets	55	74
Prepaid fees and capitalized implementation costs for cloud-based hosting arrangements	123	68
Amounts recoverable for capping, closure and post-closure obligations	24	22
Other	19	25
Total	$ 1,383	$ 1,184

Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Summarized financial information concerning our reportable segments

Summarized financial information concerning our reportable segments for the years ended December 31, 2024, 2023 and 2022 follows:


	Group 1		Group 2		Recycling & Waste Subtotal(1)		Group 3 (Environmental Solutions)		Corporate entities and other		Total
2024
Gross Revenue	$	8,332	$	7,891	$	16,223	$	1,864	$	331	$	18,418
Intercompany Revenue	(1,235)		(1,037)		(2,272)		(49)		(65)		(2,386)
Revenue Allocations	123		115		238		28		(266)		—
Net Revenue	$	7,220	$	6,969	$	14,189	$	1,843	$	—	$	16,032
Cost of Operations	4,129		4,079		8,208		1,142		—		9,350
SG&A	738		671		1,409		265		—		1,674
Other Segment Items	—		29		29		—		—		29
Adjusted EBITDA	$	2,353	$	2,190	$	4,543	$	436	$	—	$	4,979
Capital Expenditures	$	874	$	574	$	1,448	$	136	$	271	$	1,855
Total Assets	$	14,250	$	11,046	$	25,296	$	4,459	$	2,647	$	32,402


	Group 1		Group 2		Recycling & Waste Subtotal(1)		Group 3 (Environmental Solutions)		Corporate entities and other		Total
2023
Gross Revenue	$	7,769	$	7,566	$	15,335	$	1,701	$	243	$	17,279
Intercompany Revenue	(1,171)		(1,011)		(2,182)		(56)		(76)		(2,314)
Revenue Allocations	96		91		187		(20)		(167)		—
Net Revenue	$	6,694	$	6,646	$	13,340	$	1,625	$	—	$	14,965
Cost of Operations	3,878		4,033		7,911		1,032		—		8,943
SG&A	681		649		1,330		279		—		1,609
Other Segment Items	—		—		—		(34)		—		(34)
Adjusted EBITDA	$	2,135	$	1,964	$	4,099	$	348	$	—	$	4,447
Capital Expenditures	$	707	$	542	$	1,249	$	145	$	237	$	1,631
Total Assets	$	13,665	$	10,988	$	24,653	$	4,471	$	2,286	$	31,410


	Group 1		Group 2		Recycling & Waste Subtotal(1)		Group 3 (Environmental Solutions)		Corporate entities and other		Total
2022
Gross Revenue	$	7,107	$	7,029	$	14,136	$	1,262	$	247	$	15,645
Intercompany Revenue	(1,090)		(945)		(2,035)		(47)		(52)		(2,134)
Revenue Allocations	103		99		202		(7)		(195)		—
Net Revenue	$	6,120	$	6,183	$	12,303	$	1,208	$	—	$	13,511
Cost of Operations	3,541		3,846		7,387		818		—		8,205
SG&A	612		586		1,198		256		—		1,454
Other Segment Items	—		—		—		(77)		—		(77)
Adjusted EBITDA	$	1,967	$	1,751	$	3,718	$	211	$	—	$	3,929
Capital Expenditures	$	620	$	542	$	1,162	$	133	$	159	$	1,454
Total Assets	$	12,418	$	10,528	$	22,946	$	4,090	$	2,017	$	29,053

(1) The Recycling & Waste Subtotal represents the combined results of our Group 1 and Group 2 reportable segments.

Schedule of Adjusted EBITDA and EBITDA Margin

A reconciliation of the Company's single measure of segment profitability (segment adjusted EBITDA) to Income before income tax provision in the Consolidated Statements of Net Income is as follows for the years ended December 31, 2024, 2023 and 2022 (in millions of dollars):


	2024		2023		2022
Group 1 Adjusted EBITDA	$	2,353	$	2,135	$	1,967
Group 2 Adjusted EBITDA	2,190		1,964		1,751
Group 3 Adjusted EBITDA	436		348		211
Total Adjusted EBITDA	4,979		4,447		3,929
Other income (expense), net	(23)		(7)		2
Interest income	(9)		(6)		(3)
Interest expense	539		508		395
Depreciation, depletion and amortization	1,677		1,501		1,352
Accretion	107		98		89
Loss from unconsolidated equity method investments	255		94		166
Adjustment to withdrawal liability for multiemployer pension funds	—		5		(2)
Restructuring charges	29		33		27
Gain on certain divestitures and impairments, net	(30)		(4)		(6)
US Ecology, Inc. acquisition integration and deal costs	—		34		77

Loss on extinguishment of debt and other related costs	2		—		—
Income before income taxes	$	2,432	$	2,191	$	1,832

Income Taxes (Deferred Income Tax Asset and Liability) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Deferred tax liabilities relating to:
Differences between book and tax basis of property and equipment	$ (1,258)	$ (1,229)
Difference between book and tax basis of intangible assets	(637)	(583)
Operating right-of-use lease assets	(57)	(59)
Basis difference due to redemption of partnership interests	(82)	(82)
Total deferred tax liabilities	(2,034)	(1,953)
Deferred tax assets relating to:
Environmental reserves	218	236
Accruals not currently deductible	105	105
Net operating loss carryforwards	61	75
Difference between book and tax basis of other assets	48	14
Operating right-of-use lease liabilities	59	60
Other	15	17
Total deferred tax assets	506	507
Valuation allowance	(51)	(49)
Net deferred tax asset	455	458
Net overall deferred tax liability	$ (1,579)	$ (1,495)

Debt (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Schedule of notes payable, capital leases and long-term debt

The carrying value of our credit facilities, finance leases and long-term debt as of December 31, 2024 and 2023 is listed in the following table, and is adjusted for unamortized discounts, deferred issuance costs and the unamortized portion of adjustments to fair value recorded in purchase accounting. Original issue discounts and adjustments to fair value recorded in purchase accounting are amortized to interest expense over the term of the applicable instrument using the effective interest method.


		December 31, 2024						December 31, 2023
Maturity	Interest Rate	Principal		Adjustments		Carrying Value		Principal		Adjustments		Carrying Value
Credit facilities:
Uncommitted Credit Facility	Variable	$	—	$	—	$	—	$	—	$	—	$	—
The Credit Facility	Variable	514		—		514		297		—		297
Term Loan	Variable	—		—		—		500		—		500
Commercial Paper	Variable	477		—		477		496		(1)		495
Senior notes:

August 2024	2.500	—		—		—		900		(1)		899
March 2025	3.200	500		—		500		500		(1)		499
November 2025	0.875	350		—		350		350		(1)		349
July 2026	2.900	500		(1)		499		500		(2)		498
November 2027	3.375	650		(2)		648		650		(3)		647
May 2028	3.950	800		(7)		793		800		(9)		791
April 2029	4.875	750		(6)		744		750		(7)		743
November 2029	5.000	400		(4)		396		—		—		—
March 2030	2.300	600		(4)		596		600		(4)		596
February 2031	1.450	650		(5)		645		650		(6)		644
February 2032	1.750	750		(5)		745		750		(5)		745
March 2033	2.375	700		(6)		694		700		(6)		694
December 2033	5.000	650		(9)		641		650		(9)		641
April 2034	5.000	800		(10)		790		800		(11)		789
November 2034	5.200	500		(6)		494		—		—		—
March 2035	6.086	182		(11)		171		182		(12)		170
March 2040	6.200	400		(3)		397		400		(3)		397
May 2041	5.700	386		(5)		381		386		(5)		381
March 2050	3.050	400		(7)		393		400		(7)		393
Debentures:
September 2035	7.400	148		(27)		121		148		(29)		119
Tax-exempt:
2026 - 2053	3.375 - 4.375	1,418		(9)		1,409		1,289		(8)		1,281
Finance leases and other:
2025 - 2063	1.726 - 9.750	315		—		315		251		—		251
Total Debt		$	12,840	$	(127)	12,713		$	12,949	$	(130)	12,819
Less: current portion						(862)						(932)
Long-term portion						$	11,851					$	11,887

Schedule of future maturities of debt

Aggregate principal maturities of notes payable, finance leases and other long-term debt as of December 31, 2024 follow:


2025	$	862
2026	594
2027	663
2028	844
2029	2,179
Thereafter	7,698
	$	12,840

Business Acquisitions, Investments and Restructuring Charges (Narrative) (Details) - USD ($) $ in Millions		12 Months Ended
	Feb. 13, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]
Capital contributions to noncontrolling equity interest		$ 236	$ 222
Loss from unconsolidated equity method investments		255	94	$ 166
Tax credit related to investment			87	139
Restructuring charges		29	33	27
Restructuring expenditures		25	39	20
Contract Termination
Schedule of Equity Method Investments [Line Items]
Restructuring charges			9
Redesign Of Software Systems
Schedule of Equity Method Investments [Line Items]
Restructuring charges			24
Investment Tax Credit Carryforward
Schedule of Equity Method Investments [Line Items]
Income tax benefits		222	87
Certain Limited Liability Companies
Schedule of Equity Method Investments [Line Items]
Loss from unconsolidated equity method investments		254	102
Joint Venture with Landfill Gas to Energy Developer
Schedule of Equity Method Investments [Line Items]
Capital contributions to noncontrolling equity interest		98	68	137
Income tax benefits		6
Equity method investments		270	170
Joint Venture with Landfill Gas to Energy Developer \| ILLINOIS
Schedule of Equity Method Investments [Line Items]
Capital contributions to noncontrolling equity interest		35
Thermal Processing Facility
Schedule of Equity Method Investments [Line Items]
Capital contributions to noncontrolling equity interest		27
Tax credit related to investment		8
Ravago, Blue Polymers
Schedule of Equity Method Investments [Line Items]
Capital contributions to noncontrolling equity interest		38	9	$ 10
Equity method investments		$ 55	$ 19
Subsequent Event
Schedule of Equity Method Investments [Line Items]
Business combination, consideration transferred	$ 700

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
Income Taxes (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Contingency [Line Items]
Tax credit related to investment		$ 87	$ 139
Tax credit related to renewable natural gas and commercial electric vehicles	$ 18
Tax settlement, reduction in tax provision		21
Income taxes paid, net of refunds received	313	343	185
Net operating loss carryforwards	50
Settlements	9	66	0
Unrecognized tax benefits if recognized that would impact effective tax rate	22	33	97
Interest on income taxes accrued	(6)	1	1
Accrued liability for penalties	1
Accrued liability for interest related to uncertain tax positions and penalties	5	$ 14	$ 15
State and Local Jurisdiction \| SEC Schedule, 12-09, Valuation Allowance, Operating Loss Carryforward
Income Tax Contingency [Line Items]
Net operating loss carryforwards	45
Equity Method Investment, Nonconsolidated Investee or Group of Investees
Income Tax Contingency [Line Items]
Tax credit related to investment	$ 222

Income Taxes (Deferred Tax Valuation Allowance) (Details) - Valuation Allowance of Deferred Tax Assets - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Movement in Deferred Tax Valuation Allowances [Roll Forward]
Balance at beginning of year	$ 49	$ 44	$ 44
Additions charged to provision for income taxes	6	3	2
Deferred tax assets realized or written-off	0	0	(6)
Other, net	(4)	2	4
Balance at end of year	$ 51	$ 49	$ 44

Income Taxes (Effective Tax Rate) (Details)	12 Months Ended
Income Taxes (Effective Tax Rate) (Details)	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Reconciliations of the statutory federal income tax rate to our effective tax
Federal statutory rate	21.00%	21.00%	21.00%
State income taxes, net of federal benefit	4.80%	4.40%	4.60%
Non-deductible expenses	0.80%	1.20%	1.10%
Uncertain tax position taxes and interest	(0.30%)	(0.80%)	0.20%
Investment tax credits	(9.90%)	(4.00%)	(7.60%)
Other, net	(0.40%)	(0.80%)	(0.50%)
Effective income tax rate	16.00%	21.00%	18.80%

Other Liabilities (Tables)

12 Months Ended

Dec. 31, 2024

Other Liabilities Disclosure [Abstract]

Schedule of other accrued liabilities

A summary of other accrued liabilities as of December 31 follows:


	2024		2023
Accrued payroll and benefits	$	339	$	351
Insurance reserves, current	220		217
Accrued fees and taxes	204		194
Accrued dividends	181		168
Operating right-of-use lease liabilities, current	55		55
Ceded insurance reserves, current	30		35
Contingent purchase price and acquisition holdbacks	14		17
Accrued professional fees and legal settlement reserves	12		18



Other	121		117
Total	$	1,176	$	1,172

Schedule of other long-term liabilities

A summary of other long-term liabilities as of December 31 follows:


	2024		2023
Operating right-of-use lease liabilities	$	189	$	195
Deferred compensation plan liability	120		115
Ceded insurance reserves	86		92
Derivative and hedging liabilities	72		71
Contingent purchase price and acquisition holdbacks	60		59
Withdrawal liability - multiemployer pension funds	19		20

Other	42		43
Total	$	588	$	595

Schedule of activity of self insurance reserves

The following table summarizes the activity in our insurance reserves for the years ended December 31:


	2024		2023		2022
Balance at beginning of year	$	566	$	503	$	497
Additions charged to expense	671		656		565
Payments	(701)		(636)		(594)
Premium written for third party risk assumed	86		43		35
Balance at end of year	622		566		503
Less: current portion	(220)		(217)		(188)
Long-term portion	$	402	$	349	$	315

Landfill and Environmental Costs (Tables)

12 Months Ended

Dec. 31, 2024

Environmental Remediation Obligations [Abstract]

Schedule of landfill assets retirement obligations and environmental liabilities

A summary of our accrued landfill asset retirement obligations and environmental liabilities as of December 31 follows:


	2024		2023
Landfill final capping, closure and post-closure liabilities	$	2,144	$	1,937
Environmental remediation	447		485
Total accrued landfill and environmental costs	2,591		2,422
Less: current portion	(159)		(141)
Long-term portion	$	2,432	$	2,281

Schedule of activity in asset retirement obligation liabilities, which includes liabilities for final capping, closure and post-closure

The following table summarizes the activity in our asset retirement obligations, which includes liabilities for final capping, closure and post-closure, for the years ended December 31:


	2024		2023		2022
Asset retirement obligations, beginning of year	$	1,937	$	1,786	$	1,507
Non-cash additions	61		61		60
Acquisitions, net of divestitures and other adjustments	4		12		175
Asset retirement obligation adjustments	91		41		20
Payments	(56)		(61)		(65)
Accretion expense	107		98		89

Asset retirement obligations, end of year	2,144		1,937		1,786
Less: Current portion	(96)		(72)		(75)
Long-term portion	$	2,048	$	1,865	$	1,711

Schedule of expected future payments for final capping, closure, and post-closure

The expected future payments for final capping, closure and post-closure as of December 31, 2024 follows:


2025	$	96
2026	108
2027	102
2028	97
2029	112
Thereafter	7,758
	$	8,273

Schedule of activity in environmental remediation liabilities

The following table summarizes the activity in our environmental remediation liabilities for the years ended December 31:


	2024		2023		2022
Environmental remediation liabilities, beginning of year	$	485	$	487	$	455
Net additions charged to expense	7		2		3
Payments	(62)		(55)		(55)
Accretion expense (non-cash interest expense)	17		18		17
Acquisitions, net of divestitures and other adjustments	—		33		67
Environmental remediation liabilities, end of year	447		485		487
Less: current portion	(63)		(69)		(57)
Long-term portion	$	384	$	416	$	430

Schedule of expected undiscounted future payments for remediation costs

The expected undiscounted future payments for remediation costs as of December 31, 2024 follows:


2025	$	63
2026	59
2027	46
2028	46
2029	28
Thereafter	256
	$	498

Share Repurchases and Dividends

12 Months Ended

Dec. 31, 2024

Equity [Abstract]

Share Repurchases and Dividends

SHARE REPURCHASES AND DIVIDENDS

Available Shares

We currently have approximately 11 million shares of common stock reserved for future grants under the Republic Services, Inc. 2021 Stock Incentive Plan.

Share Repurchases

In October 2020, our Board of Directors approved a $2.0 billion share repurchase authorization effective starting January 1, 2021 and extending through December 31, 2023. In October 2023, our Board of Directors approved a $3.0 billion share repurchase authorization effective starting January 1, 2024 and extending through December 31, 2026. Share repurchases under the program may be made through open market purchases or privately negotiated transactions in accordance with applicable federal securities laws. While the Board of Directors has approved the program, the timing of any purchases, the prices and the number of shares of common stock to be purchased will be determined by our management, at its discretion, and will depend upon market conditions and other factors. The share repurchase program may be extended, suspended or discontinued at any time. On a quarterly basis, our Board of Directors reviews the intrinsic value of our stock and the parameters around which we repurchase our shares.

Share repurchase activity during the years ended December 31, 2024, 2023 and 2022 follows (in millions except per share amounts):


	2024		2023		2022
Number of shares repurchased	3		2		2
Amount paid	$	480	$	262	$	203
Weighted average cost per share	$	193.59	$	145.72	$	124.02

The average price paid per share, total repurchase costs and approximate maximum dollar value of the shares that may yet be purchased under the plans or programs exclude a 1% excise tax.

As of December 31, 2024, there were less than 1 million repurchased shares pending settlement, resulting in an associated $10 million of share repurchases unpaid and included within other accrued liabilities. As of December 31, 2023 and 2022, there were no repurchased shares pending settlement. As of December 31, 2024, the remaining authorized purchase capacity under our October 2023 repurchase program was $2.5 billion.

In December 2024, our board of directors changed the status of 8 million treasury shares to authorized and unissued. In doing so, the number of our issued shares was reduced by the stated amount. Our accounting policy is to deduct the par value from common stock and to reflect the excess of cost over par value as a deduction from additional paid-in capital. The reduction in issued shares resulted in a change of $1,195 million in treasury stock which was reclassified as less than 1 million in common stock, and $1,195 million in additional paid-in capital. There was no effect on our total stockholders' equity position as a result of the change.

Dividends

In October 2024, our Board of Directors approved a quarterly dividend of $0.580 per share. Aggregate cash dividends declared were $699 million, $650 million and $603 million for the years ended December 31, 2024, 2023 and 2022, respectively. As of December 31, 2024, we recorded a quarterly dividend payable of $181 million to shareholders of record at the close of business on January 2, 2025.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478448/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 16
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-16

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

+ Details

Revenue (Tables)

12 Months Ended

Dec. 31, 2024

Revenue from Contract with Customer [Abstract]

Schedule of disaggregation of revenue

The following table disaggregates our revenue by service line for the years ended December 31 (in millions of dollars and as a percentage of revenue):


	2024				2023				2022
Collection:
Residential	$	2,939	18.3	%	$	2,823	18.9	%	$	2,642	19.5	%
Small-container	4,820		30.1		4,439		29.7		3,946		29.2
Large-container	3,024		18.9		2,922		19.5		2,701		20.0
Other	72		0.4		69		0.4		54		0.4
Total collection	10,855		67.7		10,253		68.5		9,343		69.1
Transfer	1,780				1,699				1,575
Less: intercompany	(975)				(933)				(850)
Transfer, net	805		5.0		766		5.1		725		5.4
Landfill	2,981				2,885				2,682
Less: intercompany	(1,240)				(1,206)				(1,132)
Landfill, net	1,741		10.9		1,679		11.2		1,550		11.5
Environmental solutions	1,907				1,701				1,262
Less: intercompany	(64)				(76)				(54)
Environmental solutions, net	1,843		11.5		1,625		10.9		1,208		8.9
Other:
Recycling processing and commodity sales	409		2.5		312		2.1		359		2.7
Other non-core	379		2.4		330		2.2		326		2.4
Total other	788		4.9		642		4.3		685		5.1
Total revenue	$	16,032	100.0	%	$	14,965	100.0	%	$	13,511	100.0	%

Debt

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Debt

DEBT


		December 31, 2024						December 31, 2023
Maturity	Interest Rate	Principal		Adjustments		Carrying Value		Principal		Adjustments		Carrying Value
Credit facilities:
Uncommitted Credit Facility	Variable	$	—	$	—	$	—	$	—	$	—	$	—
The Credit Facility	Variable	514		—		514		297		—		297
Term Loan	Variable	—		—		—		500		—		500
Commercial Paper	Variable	477		—		477		496		(1)		495
Senior notes:

August 2024	2.500	—		—		—		900		(1)		899
March 2025	3.200	500		—		500		500		(1)		499
November 2025	0.875	350		—		350		350		(1)		349
July 2026	2.900	500		(1)		499		500		(2)		498
November 2027	3.375	650		(2)		648		650		(3)		647
May 2028	3.950	800		(7)		793		800		(9)		791
April 2029	4.875	750		(6)		744		750		(7)		743
November 2029	5.000	400		(4)		396		—		—		—
March 2030	2.300	600		(4)		596		600		(4)		596
February 2031	1.450	650		(5)		645		650		(6)		644
February 2032	1.750	750		(5)		745		750		(5)		745
March 2033	2.375	700		(6)		694		700		(6)		694
December 2033	5.000	650		(9)		641		650		(9)		641
April 2034	5.000	800		(10)		790		800		(11)		789
November 2034	5.200	500		(6)		494		—		—		—
March 2035	6.086	182		(11)		171		182		(12)		170
March 2040	6.200	400		(3)		397		400		(3)		397
May 2041	5.700	386		(5)		381		386		(5)		381
March 2050	3.050	400		(7)		393		400		(7)		393
Debentures:
September 2035	7.400	148		(27)		121		148		(29)		119
Tax-exempt:
2026 - 2053	3.375 - 4.375	1,418		(9)		1,409		1,289		(8)		1,281
Finance leases and other:
2025 - 2063	1.726 - 9.750	315		—		315		251		—		251
Total Debt		$	12,840	$	(127)	12,713		$	12,949	$	(130)	12,819
Less: current portion						(862)						(932)
Long-term portion						$	11,851					$	11,887

Future Maturities of Debt

Aggregate principal maturities of notes payable, finance leases and other long-term debt as of December 31, 2024 follow:


2025	$	862
2026	594
2027	663
2028	844
2029	2,179
Thereafter	7,698
	$	12,840

Credit Facilities

Uncommitted Credit Facility

In January 2022, we entered into a $200 million unsecured uncommitted revolving credit facility (the Uncommitted Credit Facility). The Uncommitted Credit Facility bears interest at an annual percentage rate to be agreed upon by both parties. Borrowings under the Uncommitted Credit Facility can be used for working capital, letters of credit and other general corporate purposes. The agreement governing our Uncommitted Credit Facility requires us to comply with certain covenants. The Uncommitted Credit Facility may be terminated by either party at any time. As of December 31, 2024 and 2023, we had no borrowings outstanding under our Uncommitted Credit Facility.

The Credit Facility

In July 2024, we and our subsidiary, USE Canada Holdings, Inc. (the Canadian Borrower) entered into the Second Amended and Restated Credit Agreement (the Credit Facility) which amends and restates the unsecured revolving credit facility we entered into in August 2021. The total outstanding principal amount that we may borrow under the Credit Facility may not exceed the current aggregate lenders' commitments of $3.5 billion, and borrowings under the Credit Facility mature in July 2029. As permitted by the Credit Facility, we have the right to request two one-year extensions of the maturity date, but none of the lenders are committed to participate in such extensions. The Credit Facility also includes a feature that allows us to increase availability, at our option, by an aggregate amount of up to $1.0 billion through increased commitments from existing lenders or the addition of new lenders.

All loans to the Canadian Borrower and all loans denominated in Canadian dollars cannot exceed $1.0 billion (the Canadian Sublimit). The Canadian Sublimit is part of, and not in addition to, the aggregate commitments under the Credit Facility.

Borrowings under the Credit Facility in United States dollars bear interest at a Base Rate, a daily floating SOFR or a term SOFR plus a current applicable margin of 0.920% based on our Debt Ratings (all as defined in the Credit Facility agreement). The Canadian dollar-denominated loans bear interest based on the Canadian Prime Rate or the Canadian Dollar Offered Rate plus a current applicable margin of 0.920% based on our Debt Ratings. As of December 31, 2024, C$232 million was outstanding against the Canadian Sublimit, with a weighted average interest rate of 5.309%.

The Credit Facility is subject to facility fees based on applicable rates defined in the Credit Facility agreement and the aggregate commitment, regardless of usage. The Credit Facility can be used for working capital, capital expenditures, acquisitions, letters of credit and other general corporate purposes. The Credit Facility agreement requires us to comply with financial and other covenants. We may pay dividends and repurchase common stock if we are in compliance with these covenants.

We had $514 million and $297 million outstanding under our Credit Facility as of December 31, 2024 and 2023, respectively. We had $317 million and $337 million of letters of credit outstanding under our Credit Facility as of December 31, 2024 and 2023, respectively. We also had $477 million and $495 million of principal borrowings outstanding (net of related discount on issuance) under our commercial paper program as of December 31, 2024 and 2023, respectively. As a result, availability under our Credit Facility was $2,192 million and $2,371 million as of December 31, 2024 and 2023, respectively.

Term Loan Facility

On April 29, 2022, we entered into a $1 billion Term Loan Facility, which bore interest at a base rate or a forward-looking SOFR, plus an applicable margin based on our debt ratings. We had $500 million of borrowings outstanding under the Term Loan Facility as of December 31, 2023. During the year ended December 31, 2024, we repaid the remaining balance of the Term Loan Facility.

Commercial Paper Program

In May 2022, we entered into a commercial paper program for the issuance and sale of unsecured commercial paper in an aggregate principal amount not to exceed $500 million outstanding at any one time (the Commercial Paper Cap). In August 2022, the Commercial Paper Cap was increased to $1.0 billion, and in October 2023, was increased to $1.5 billion. The weighted average interest rate for borrowings outstanding as of December 31, 2024 is 4.646% with a weighted average maturity of approximately 18 days.

We had $477 million and $496 million principal value of commercial paper issued and outstanding under the program as of December 31, 2024 and 2023, respectively. In the event of a failed re-borrowing, we currently have availability under our Credit Facility to fund amounts currently borrowed under the commercial paper program until they are re-borrowed successfully. Accordingly, we have classified these borrowings as long-term in our consolidated balance sheet as of December 31, 2024 and 2023, respectively.

Senior Notes and Debentures

In March 2023, we issued $400 million of 4.875% senior notes due 2029 (the Existing 2029 Notes) and $800 million of 5.000% senior notes due 2034 (the 2034 Notes, and together with the Existing 2029 Notes, the Notes). The Notes are unsecured and unsubordinated and rank equally with our other unsecured obligations. We used the proceeds from the Notes for general corporate purposes, including the repayment of a portion of amounts outstanding under the Uncommitted Credit Facility, the Commercial Paper Program, the Credit Facility, and the Term Loan Facility. As a result of the Term Loan Facility repayment, we incurred a non-cash loss on the early extinguishment of debt related to the ratable portion of unamortized deferred issuance costs of less than $1 million.

In December 2023, we issued an additional $350 million of 4.875% senior notes due 2029 (the New 2029 Notes, and together with the Existing 2029 Notes, the 2029 Notes). After giving effect to the issuance of the New 2029 Notes, $750 million in aggregate principal amount of the 2029 Notes is outstanding. The New 2029 Notes are fungible with the Existing 2029 Notes, and taken together, the 2029 Notes are treated as a single series.

In December 2023, we also issued $650 million of 5.000% senior notes due 2033 (the 2033 Notes). The proceeds of the 2033 Notes were used for general corporate purposes, including the repayment of a portion of amounts outstanding under the Uncommitted Credit Facility, the Commercial Paper Program, the Credit Facility, and the Term Loan Facility.

In June 2024, we issued $400 million of 5.000% senior notes due 2029 and $500 million of 5.200% senior notes due 2034. We used the proceeds from the June 2024 notes issuance for general corporate purposes, including the repayment of a portion of amounts outstanding under the Commercial Paper Program and the Credit Facility; and repayment of the remaining amount outstanding under the Term Loan Facility and the Uncommitted Credit Facility.

Our senior notes and debentures are general unsecured and unsubordinated obligations and rank equally with our other unsecured obligations.

Tax-Exempt Financings

As of December 31, 2024, we had $1,409 million of fixed and variable rate tax-exempt financings outstanding, with maturities ranging from 2026 to 2053. As of December 31, 2023, we had $1,281 million of fixed and variable rate tax-exempt financings outstanding, with maturities ranging from 2024 to 2053.

In June 2024, the Mission Economic Development Corporation issued, for our benefit, $50 million in principal amount of Solid Waste Disposal Revenue Bonds. The proceeds from the issuance, after deferred issuance costs, were used to fund the acquisition, construction, improvement, installation, and/or equipping of certain solid waste disposal facilities located within Texas.

In both March 2024 and September 2023, the California Municipal Finance Authority issued, for our benefit, $100 million in principal amount of Solid Waste Disposal Revenue Bonds. The proceeds from the issuances, after deferred issuance costs, were used to fund the acquisition, construction, improvement, installation, and/or equipping of certain solid waste disposal facilities located within California.

The initial remarketing period for the above Mission Economic Development Corporation and California Municipal Finance Authority tax-exempt financings is 10 years. Our remaining tax-exempt financings are remarketed either quarterly or semiannually by remarketing agents to effectively maintain a variable yield. The holders of the bonds can put them back to the remarketing agents at the end of each interest period. If the remarketing agents are unable to remarket our bonds, the remarketing agents can put the bonds to us. In the event of a failed remarketing, we currently have availability under our Credit Facility to fund these bonds until they are remarketed successfully. Accordingly, we classified these borrowings as long-term in our consolidated balance sheets as of December 31, 2024 and December 31, 2023.

Finance Leases and Other

As of December 31, 2024, we had finance lease liabilities of $315 million with maturities ranging from 2025 to 2063. As of December 31, 2023, we had finance lease liabilities of $251 million with maturities ranging from 2024 to 2063.

As of December 31, 2024, finance leases and other included $53 million related to the construction of an office building located in Phoenix, Arizona, which has been accounted for as a financing obligation. The amount is recorded within long-term debt, net of current maturities.

Interest Paid

Interest paid, excluding net swap settlements for our fair value hedges, was $487 million, $423 million and $312 million for the years ended December 31, 2024, 2023 and 2022, respectively.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(1)
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-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 40
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-Section 50
-Paragraph 1
-Subparagraph (a)
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-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Commitments and Contingencies (Schedule of Cash, Cash Equivalents and Restricted Cash) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Cash and cash equivalents	$ 74	$ 140	$ 143
Restricted cash and marketable securities	208	164	128
Less: restricted marketable securities	(79)	(76)	(57)
Cash, cash equivalents, restricted cash and restricted cash equivalents	$ 203	$ 228	$ 214	$ 106

Landfill and Environmental Costs

12 Months Ended

Dec. 31, 2024

Environmental Remediation Obligations [Abstract]

Landfill and Environmental Costs

LANDFILL AND ENVIRONMENTAL COSTS

As of December 31, 2024, we owned or operated 208 active landfills with total available disposal capacity estimated to be 5 billion in-place cubic yards. Additionally, we have post-closure responsibility for 125 closed landfills.

Accrued Landfill and Environmental Costs

A summary of our accrued landfill asset retirement obligations and environmental liabilities as of December 31 follows:


	2024		2023
Landfill final capping, closure and post-closure liabilities	$	2,144	$	1,937
Environmental remediation	447		485
Total accrued landfill and environmental costs	2,591		2,422
Less: current portion	(159)		(141)
Long-term portion	$	2,432	$	2,281

Final Capping, Closure and Post-Closure Costs

The following table summarizes the activity in our asset retirement obligations, which includes liabilities for final capping, closure and post-closure, for the years ended December 31:


	2024		2023		2022
Asset retirement obligations, beginning of year	$	1,937	$	1,786	$	1,507
Non-cash additions	61		61		60
Acquisitions, net of divestitures and other adjustments	4		12		175
Asset retirement obligation adjustments	91		41		20
Payments	(56)		(61)		(65)
Accretion expense	107		98		89

Asset retirement obligations, end of year	2,144		1,937		1,786
Less: Current portion	(96)		(72)		(75)
Long-term portion	$	2,048	$	1,865	$	1,711

We review annually, in the fourth quarter, and update as necessary, our estimates of asset retirement obligations. As a result, we increased amortization expense by $13 million, $5 million and $6 million for the years ended December 31, 2024, 2023 and 2022, respectively, primarily related to changes in estimates and assumptions concerning the anticipated waste flow, cost and timing of future final capping, closure and post-closure activities.

The expected future payments for final capping, closure and post-closure as of December 31, 2024 follows:


2025	$	96
2026	108
2027	102
2028	97
2029	112
Thereafter	7,758
	$	8,273

The estimated remaining final capping, closure and post-closure expenditures presented above are not inflated and not discounted and reflect the total estimated future payments for liabilities which include those incurred and recorded as of December 31, 2024 as well as liabilities yet to be incurred over the remaining life of our landfills.

Environmental Remediation Liabilities

We accrue for remediation costs when they become probable and can be reasonably estimated. There can sometimes be a range of reasonable estimates of the costs associated with remediation of a site. In these cases, we use the amount within the range that constitutes our best estimate. If no amount within the range appears to be a better estimate than any other, we use the amount that is at the low end of such range. It is reasonably possible that we will need to adjust the liabilities recorded for remediation to reflect the effects of new or additional information, to the extent such information impacts the costs, timing or

duration of the required actions. If we used the reasonably possible high ends of our ranges, our aggregate potential remediation liability as of December 31, 2024 would be approximately $273 million higher than the amounts recorded. Future changes in our estimates of the cost, timing or duration of the required actions could have a material adverse effect on our consolidated financial position, results of operations and cash flows.

The following table summarizes the activity in our environmental remediation liabilities for the years ended December 31:


	2024		2023		2022
Environmental remediation liabilities, beginning of year	$	485	$	487	$	455
Net additions charged to expense	7		2		3
Payments	(62)		(55)		(55)
Accretion expense (non-cash interest expense)	17		18		17
Acquisitions, net of divestitures and other adjustments	—		33		67
Environmental remediation liabilities, end of year	447		485		487
Less: current portion	(63)		(69)		(57)
Long-term portion	$	384	$	416	$	430

The expected undiscounted future payments for remediation costs as of December 31, 2024 follows:


2025	$	63
2026	59
2027	46
2028	46
2029	28
Thereafter	256
	$	498

The following is a discussion of certain of our significant remediation matters:

Bridgeton Landfill. During the year ended December 31, 2024, we paid $12 million related to management and monitoring of the remediation area for our closed Bridgeton Landfill in Missouri. We continue to work with state and federal regulatory agencies on our remediation efforts. From time to time, this may require us to modify our future operating timeline and procedures, which could result in changes to our expected liability. As of December 31, 2024, the remediation liability recorded for this site was $62 million, of which approximately $11 million is expected to be paid during 2025.

West Lake Landfill Superfund Site. Our subsidiary Bridgeton Landfill, LLC is one of several currently designated Potentially Responsible Parties for the West Lake Landfill Superfund site (West Lake) in Missouri. On September 27, 2018, the United States Environmental Protection Agency (EPA) issued a Record of Decision Amendment for West Lake that includes a total undiscounted cost estimate of $229 million over a four to five year design and construction timeline. On March 11, 2019, the EPA issued special notice letters under the Comprehensive Environmental Response, Compensation and Liability Act of 1980 (CERCLA) to Bridgeton Landfill, LLC and the other currently designated Potentially Responsible Parties to initiate negotiations to implement the remedy. On January 17, 2025, the EPA issued an Explanation of Significant Differences (ESD) applying the prior Record of Decision Amendment to an increased number of acres at the site found to contain radiologically-impacted material. The ESD includes a revised undiscounted cost estimate of $392 million. At this time we are neither able to predict the final design of that remedy, nor estimate how much of the future response costs of the site our subsidiary may agree or be required to pay. During any subsequent administrative proceedings or litigation, our subsidiary will vigorously contest liability for the costs of remediating radiologically-impacted materials generated on behalf of the federal government during the Manhattan Project and delivered to the site by an Atomic Energy Commission licensee and its subcontractor. However, subsequent events related to remedy design, divisibility, or allocation may require us to modify our expected remediation liability.

- Definition

The entire disclosure for environmental loss contingencies, such as presence of hazardous waste, relevant information from reports issued by regulators, and estimated costs to achieve compliance with regulatory requirements. This element may be used for all of an entity's disclosures about environmental loss contingencies.

+ References

Reference 1: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Topic 410
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Subparagraph (d)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481931/410-30-50-10

Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Topic 410
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Subparagraph (d)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481931/410-30-50-10

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 410
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-Name Accounting Standards Codification
-Section 55
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481899/410-30-55-11

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 410
-SubTopic 30
-Name Accounting Standards Codification
-Section 55
-Paragraph 16
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481899/410-30-55-16

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 410
-SubTopic 30
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/410-30/tableOfContent

Reference 6: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Topic 410
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481931/410-30-50-10

Reference 7: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Topic 410
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481931/410-30-50-10

Reference 8: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Topic 410
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481931/410-30-50-10

Reference 9: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Topic 410
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Subparagraph (d)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481931/410-30-50-10

Reference 10: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Topic 410
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Subparagraph (d)(5)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481931/410-30-50-10

Reference 11: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Topic 410
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481931/410-30-50-11

Reference 12: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Topic 410
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481931/410-30-50-14

Reference 13: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Topic 410
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481931/410-30-50-17

Reference 14: http://www.xbrl.org/2003/role/exampleRef
-Topic 410
-SubTopic 30
-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481899/410-30-55-17

+ Details

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2024

Commitments and Contingencies Disclosure [Abstract]

Schedule of future minimum payments under unconditional purchase commitments

Future minimum payments under unconditional purchase commitments, consisting primarily of (1) disposal related agreements, which include fixed or minimum royalty payments, host agreements and take-or-pay and put-or-pay agreements, and (2) other obligations including committed capital expenditures and consulting service agreements, as of December 31, 2024 are as follows:


2025	$	202
2026	150
2027	100
2028	65
2029	48
Thereafter	342
	$	907

Schedule of cash, cash equivalents, restricted cash and restricted cash equivalents

Beginning-of-period and end-of-period cash, cash equivalents, restricted cash and restricted cash equivalents as presented in the statements of cash flows are reconciled as follows:


	December 31, 2024		December 31, 2023		December 31, 2022
Cash and cash equivalents	$	74	$	140	$	143
Restricted cash and marketable securities	208		164		128
Less: restricted marketable securities	(79)		(76)		(57)
Cash, cash equivalents, restricted cash and restricted cash equivalents	$	203	$	228	$	214

Schedule of restricted cash and marketable securities

The following table summarizes our restricted cash and marketable securities as of December 31:


	2024		2023


Capping, closure and post-closure obligations	$	59	$	43
Insurance	149		121

Total restricted cash and marketable securities	$	208	$	164

Schedule of financial instruments and collateral in place

We had the following financial instruments and collateral in place to secure our financial assurances as of December 31:


	2024		2023
Letters of credit	$	464	$	467
Surety bonds	$	5,045	$	4,677

Debt (Carrying Value of Debt) (Details) - USD ($)	Dec. 31, 2024	Jun. 30, 2024	Dec. 31, 2023	Oct. 31, 2023	Mar. 31, 2023	Aug. 31, 2022	May 31, 2022	Jan. 31, 2022
Debt Instrument [Line Items]
Finance leases and other	$ 315,000,000		$ 251,000,000
Long-term debt, gross and lease obligation	12,840,000,000		12,949,000,000
Adjustments	(127,000,000)		(130,000,000)
Total long term debt maturities	12,840,000,000
Total Debt	12,713,000,000		12,819,000,000
Less: current portion	(862,000,000)		(932,000,000)
Long-term portion	11,851,000,000		11,887,000,000
Uncommitted Credit Facility
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity								$ 200,000,000
Principal	0		0
Adjustments	0		0
Total long term debt maturities	0		0
The Credit Facility
Debt Instrument [Line Items]
Principal	514,000,000		297,000,000
Adjustments	0		0
Total long term debt maturities	514,000,000		297,000,000
Term Loan Facility
Debt Instrument [Line Items]
Principal	0		500,000,000
Adjustments	0		0
Total long term debt maturities	0		500,000,000
Commercial Paper Facility
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity				$ 1,500,000,000		$ 1,000,000,000.0	$ 500,000,000
Principal	477,000,000		496,000,000
Adjustments	0		(1,000,000)
Total long term debt maturities	$ 477,000,000		495,000,000
Senior notes: August 2024
Debt Instrument [Line Items]
Interest Rate	2.50%
Principal	$ 0		900,000,000
Adjustments	0		(1,000,000)
Total long term debt maturities	$ 0		899,000,000
Senior notes: March 2025
Debt Instrument [Line Items]
Interest Rate	3.20%
Principal	$ 500,000,000		500,000,000
Adjustments	0		(1,000,000)
Total long term debt maturities	$ 500,000,000		499,000,000
Senior notes: November 2025
Debt Instrument [Line Items]
Interest Rate	0.875%
Principal	$ 350,000,000		350,000,000
Adjustments	0		(1,000,000)
Total long term debt maturities	$ 350,000,000		349,000,000
Senior notes: July 2026
Debt Instrument [Line Items]
Interest Rate	2.90%
Principal	$ 500,000,000		500,000,000
Adjustments	(1,000,000)		(2,000,000)
Total long term debt maturities	$ 499,000,000		498,000,000
Senior notes: November 2027
Debt Instrument [Line Items]
Interest Rate	3.375%
Principal	$ 650,000,000		650,000,000
Adjustments	(2,000,000)		(3,000,000)
Total long term debt maturities	$ 648,000,000		647,000,000
Senior notes: May 2028
Debt Instrument [Line Items]
Interest Rate	3.95%
Principal	$ 800,000,000		800,000,000
Adjustments	(7,000,000)		(9,000,000)
Total long term debt maturities	$ 793,000,000		$ 791,000,000
Senior notes: April 2029
Debt Instrument [Line Items]
Interest Rate	4.875%		4.875%
Principal	$ 750,000,000		$ 750,000,000
Adjustments	(6,000,000)		(7,000,000)
Total long term debt maturities	$ 744,000,000		743,000,000
Senior notes: November 2029
Debt Instrument [Line Items]
Interest Rate	5.00%
Principal	$ 400,000,000	$ 400,000,000	0
Adjustments	(4,000,000)		0
Total long term debt maturities	$ 396,000,000		0
Senior notes: March 2030
Debt Instrument [Line Items]
Interest Rate	2.30%
Principal	$ 600,000,000		600,000,000
Adjustments	(4,000,000)		(4,000,000)
Total long term debt maturities	$ 596,000,000		596,000,000
Senior notes: February 2031
Debt Instrument [Line Items]
Interest Rate	1.45%
Principal	$ 650,000,000		650,000,000
Adjustments	(5,000,000)		(6,000,000)
Total long term debt maturities	$ 645,000,000		644,000,000
Senior notes: February 2032
Debt Instrument [Line Items]
Interest Rate	1.75%
Principal	$ 750,000,000		750,000,000
Adjustments	(5,000,000)		(5,000,000)
Total long term debt maturities	$ 745,000,000		745,000,000
Senior notes: March 2033
Debt Instrument [Line Items]
Interest Rate	2.375%
Principal	$ 700,000,000		700,000,000
Adjustments	(6,000,000)		(6,000,000)
Total long term debt maturities	$ 694,000,000		694,000,000
Senior notes: December 2033
Debt Instrument [Line Items]
Interest Rate	5.00%
Principal	$ 650,000,000		650,000,000
Adjustments	(9,000,000)		(9,000,000)
Total long term debt maturities	$ 641,000,000		641,000,000
Senior notes: April 2034
Debt Instrument [Line Items]
Interest Rate	5.00%
Principal	$ 800,000,000		800,000,000		$ 800,000,000
Adjustments	(10,000,000)		(11,000,000)
Total long term debt maturities	$ 790,000,000		789,000,000
Senior notes: November 2034
Debt Instrument [Line Items]
Interest Rate	5.20%
Principal	$ 500,000,000	$ 500,000,000	0
Adjustments	(6,000,000)		0
Total long term debt maturities	$ 494,000,000		0
Senior notes: March 2035
Debt Instrument [Line Items]
Interest Rate	6.086%
Principal	$ 182,000,000		182,000,000
Adjustments	(11,000,000)		(12,000,000)
Total long term debt maturities	$ 171,000,000		170,000,000
Senior notes: March 2040
Debt Instrument [Line Items]
Interest Rate	6.20%
Principal	$ 400,000,000		400,000,000
Adjustments	(3,000,000)		(3,000,000)
Total long term debt maturities	$ 397,000,000		397,000,000
Senior notes: May 2041
Debt Instrument [Line Items]
Interest Rate	5.70%
Principal	$ 386,000,000		386,000,000
Adjustments	(5,000,000)		(5,000,000)
Total long term debt maturities	$ 381,000,000		381,000,000
Senior notes: March 2050
Debt Instrument [Line Items]
Interest Rate	3.05%
Principal	$ 400,000,000		400,000,000
Adjustments	(7,000,000)		(7,000,000)
Total long term debt maturities	$ 393,000,000		393,000,000
Debentures: September 2035
Debt Instrument [Line Items]
Interest Rate	7.40%
Principal	$ 148,000,000		148,000,000
Adjustments	(27,000,000)		(29,000,000)
Total long term debt maturities	121,000,000		119,000,000
Tax-exempt
Debt Instrument [Line Items]
Principal	1,418,000,000		1,289,000,000
Adjustments	(9,000,000)		(8,000,000)
Total long term debt maturities	$ 1,409,000,000		$ 1,281,000,000
Tax-exempt \| Minimum
Debt Instrument [Line Items]
Interest Rate	3.375%
Tax-exempt \| Maximum
Debt Instrument [Line Items]
Interest Rate	4.375%
Finance leases and other \| Minimum
Debt Instrument [Line Items]
Interest Rate	1.726%
Finance leases and other \| Maximum
Debt Instrument [Line Items]
Interest Rate	9.75%

Landfill and Environmental Costs (Expected Future Payments for Final Capping, Closure and Post-Closure) (Details) $ in Millions	Dec. 31, 2024 USD ($)
Environmental Remediation Obligations [Abstract]
2025	$ 96
2026	108
2027	102
2028	97
2029	112
Thereafter	7,758
Total future payments for final capping, closure and post-closure	$ 8,273

Financial Instruments (Fair Value of Assets and Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Assets:
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other Assets, Current, Other Assets, Noncurrent	Other Assets, Current, Other Assets, Noncurrent
Liabilities:
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other Accrued Liabilities, Current, Other Liabilities, Noncurrent	Other Accrued Liabilities, Current, Other Liabilities, Noncurrent
Fair Value, Measurements, Recurring
Assets:
Derivative and hedging assets - other assets	$ 55	$ 78
Total assets	207	197
Liabilities:
Derivative and hedging liabilities - other accrued liabilities and other long-term liabilities	72	80
Contingent consideration - other accrued liabilities and other long-term liabilities	65	64
Total liabilities	137	144
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets (Level 1)
Assets:
Derivative and hedging assets - other assets	0	0
Total assets	62	43
Liabilities:
Derivative and hedging liabilities - other accrued liabilities and other long-term liabilities	0	0
Contingent consideration - other accrued liabilities and other long-term liabilities	0	0
Total liabilities	0	0
Fair Value, Measurements, Recurring \| Significant Other Observable Inputs (Level 2)
Assets:
Derivative and hedging assets - other assets	55	78
Total assets	145	154
Liabilities:
Derivative and hedging liabilities - other accrued liabilities and other long-term liabilities	72	80
Contingent consideration - other accrued liabilities and other long-term liabilities	0	0
Total liabilities	72	80
Fair Value, Measurements, Recurring \| Significant Unobservable Inputs (Level 3)
Assets:
Derivative and hedging assets - other assets	0	0
Total assets	0	0
Liabilities:
Derivative and hedging liabilities - other accrued liabilities and other long-term liabilities	0	0
Contingent consideration - other accrued liabilities and other long-term liabilities	65	64
Total liabilities	65	64
Fair Value, Measurements, Recurring \| Money market mutual funds - restricted cash and marketable securities and other assets
Assets:
Money market mutual funds - restricted cash and marketable securities and other assets	62	43
Fair Value, Measurements, Recurring \| Money market mutual funds - restricted cash and marketable securities and other assets \| Quoted Prices in Active Markets (Level 1)
Assets:
Money market mutual funds - restricted cash and marketable securities and other assets	62	43
Fair Value, Measurements, Recurring \| Money market mutual funds - restricted cash and marketable securities and other assets \| Significant Other Observable Inputs (Level 2)
Assets:
Money market mutual funds - restricted cash and marketable securities and other assets	0	0
Fair Value, Measurements, Recurring \| Money market mutual funds - restricted cash and marketable securities and other assets \| Significant Unobservable Inputs (Level 3)
Assets:
Money market mutual funds - restricted cash and marketable securities and other assets	0	0
Fair Value, Measurements, Recurring \| Bonds and fixed income - restricted cash and marketable securities and other assets
Assets:
Bonds and fixed income - restricted cash and marketable securities and other assets	90	76
Fair Value, Measurements, Recurring \| Bonds and fixed income - restricted cash and marketable securities and other assets \| Quoted Prices in Active Markets (Level 1)
Assets:
Bonds and fixed income - restricted cash and marketable securities and other assets	0	0
Fair Value, Measurements, Recurring \| Bonds and fixed income - restricted cash and marketable securities and other assets \| Significant Other Observable Inputs (Level 2)
Assets:
Bonds and fixed income - restricted cash and marketable securities and other assets	90	76
Fair Value, Measurements, Recurring \| Bonds and fixed income - restricted cash and marketable securities and other assets \| Significant Unobservable Inputs (Level 3)
Assets:
Bonds and fixed income - restricted cash and marketable securities and other assets	0	0
Carrying Amount
Assets:
Derivative and hedging assets - other assets	55	78
Total assets	207	197
Liabilities:
Derivative and hedging liabilities - other accrued liabilities and other long-term liabilities	72	80
Contingent consideration - other accrued liabilities and other long-term liabilities	65	64
Total liabilities	137	144
Carrying Amount \| Money market mutual funds - restricted cash and marketable securities and other assets
Assets:
Money market mutual funds - restricted cash and marketable securities and other assets	62	43
Carrying Amount \| Bonds and fixed income - restricted cash and marketable securities and other assets
Assets:
Bonds and fixed income - restricted cash and marketable securities and other assets	$ 90	$ 76

Other Liabilities (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Other Liabilities Disclosure [Abstract]
Liabilities for unpaid and incurred but not reported claims	$ 622	$ 566	$ 503	$ 497

Employee Benefit Plans (Defined Contribution Plan) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Percentage of employer contribution as percentage of first three percentage of eligible compensation	100.00%
Percentage of eligible compensation contributed by employer	3.00%
Percentage of employer contribution as percentage of next two percentage of eligible compensation	50.00%
Percentage of additional eligible compensation contributed by each employee	2.00%
Total expense recorded for matching 401(k) contributions	$ 95	$ 82	$ 74

Leases (Tables)

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Summary of Assets and liabilities, lessee

A summary of the lease classification on our consolidated balance sheet as of December 31, 2024 and 2023 follows:


		2024		2023
Assets
Operating right-of-use lease assets	Other assets	$	232	$	238
Finance lease assets	Property and equipment, net	294		287
Total leased assets		$	526	$	525

Liabilities
Current
Operating	Other accrued liabilities	$	55	$	55
Finance	Notes payable and current maturities of long-term debt	13		13
Long-term
Operating	Other long-term liabilities	189		195
Finance	Long-term debt, net of current maturities	249		238
Total lease liabilities		$	506	$	501

Summary of Lease, cost

A summary of the lease cost reflected in our consolidated statements of income for the years ended December 31, 2024 and 2023 follows:


		2024		2023
Operating lease cost
Fixed lease cost	Cost of operations	$	50	$	60
Short-term lease cost	Cost of operations	105		89
Variable lease cost	Cost of operations	26		27
Finance lease cost
Amortization of leased assets	Depreciation, depletion and amortization	17		16
Interest on lease liabilities	Interest expense	9		9
Variable lease cost	Interest expense	26		22
Total lease cost		$	233	$	223

A summary of the weighted-average remaining lease term and weighted-average discount rate as of December 31, 2024 and 2023 follows:


	2024		2023
Weighted-average remaining lease term (years)
Operating leases	6.1		6.9
Finance leases	27.8		27.1
Weighted-average discount rate
Operating leases	3.3	%	2.9	%
Finance leases	4.3	%	4.4	%

Supplemental cash flow and other non-cash information for the years ended December 31, 2024 and 2023 follow:


	2024		2023
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	181	$	177
Operating cash flows from finance leases	$	35	$	31
Financing cash flows from finance leases	$	10	$	12
Leased assets obtained in exchange for new finance lease liabilities	$	25	$	17
Leased assets obtained in exchange for new operating lease liabilities	$	44	$	33

Summary of Lessee, operating lease, liability, maturity

As of December 31, 2024, maturities for operating and finance lease liabilities were as follows:


	Operating Leases		Finance Leases		Total
2025	$	61	$	22	$	83
2026	52		20		72
2027	42		19		61
2028	34		20		54
2029	27		18		45
Thereafter	53		346		399
Total lease payments	269		445		714
Less: interest	(25)		(183)		(208)
Present value of lease liabilities	$	244	$	262	$	506

Summary of Finance lease, liability, maturity

As of December 31, 2024, maturities for operating and finance lease liabilities were as follows:


	Operating Leases		Finance Leases		Total
2025	$	61	$	22	$	83
2026	52		20		72
2027	42		19		61
2028	34		20		54
2029	27		18		45
Thereafter	53		346		399
Total lease payments	269		445		714
Less: interest	(25)		(183)		(208)
Present value of lease liabilities	$	244	$	262	$	506

Earnings Per Share

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

Earnings Per Share

EARNINGS PER SHARE

Basic earnings per share is computed by dividing net income attributable to Republic Services, Inc. by the weighted average number of common shares (including vested but unissued RSUs and PSUs) outstanding during the period. Diluted earnings per share is based on the combined weighted average number of common shares and common share equivalents outstanding, which include, where appropriate, the assumed exercise of employee stock options, unvested RSUs and unvested PSUs at the expected attainment levels. We use the treasury stock method in computing diluted earnings per share.

Earnings per share for the years ended December 31, 2024, 2023 and 2022 are calculated as follows (in thousands, except per share amounts):


	2024		2023		2022
Basic earnings per share:
Net income attributable to Republic Services, Inc.	$	2,043,173	$	1,730,985	$	1,487,586
Weighted average common shares outstanding	314,399		316,182		316,530
Basic earnings per share	$	6.50	$	5.47	$	4.70
Diluted earnings per share:
Net income attributable to Republic Services, Inc.	$	2,043,173	$	1,730,985	$	1,487,586
Weighted average common shares outstanding	314,399		316,182		316,530
Effect of dilutive securities:

Unvested RSU awards	126		104		152
Unvested PSU awards	284		379		398
Weighted average common and common equivalent shares outstanding	314,809		316,665		317,080
Diluted earnings per share	$	6.49	$	5.47	$	4.69

During the year ended December 31, 2024, there were no antidilutive securities outstanding. During each of the years ended December 31, 2023 and 2022, there were less than 1 million antidilutive securities outstanding.

Business Acquisitions, Investments and Restructuring Charges (Acquisitions) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Purchase price:
Cash used in acquisitions, net of cash acquired of $1 and $23, respectively	$ 753	$ 2,065	$ 3,039
Excess purchase price allocated as follows:
Goodwill	15,982	15,834	$ 14,451
Series of Individually Immaterial Business Acquisitions
Purchase price:
Cash used in acquisitions, net of cash acquired of $1 and $23, respectively	274	1,756
Cash acquired	1	23
Holdbacks	7	19
Fair value, future minimum lease payments	0	1
Total	281	1,776
Allocated as follows:
Accounts receivable	6	67
Prepaid expenses	0	6
Landfill development costs	0	49
Property and equipment	57	374
Operating right-of-use lease assets	2	14
Parts and supplies	2	3
Accounts payable	0	(20)
Deferred revenue	(2)	(11)
Environmental remediation liabilities	0	(6)
Closure and post-closure liabilities	0	(11)
Operating right-of-use lease liabilities	(2)	(14)
Deferred income tax liabilities	(1)	(25)
Other liabilities	(1)	(12)
Fair value of tangible assets acquired and liabilities assumed	61	414
Excess purchase price to be allocated	220	1,362
Excess purchase price allocated as follows:
Other intangible assets	44	204
Goodwill	176	1,158
Total allocated	$ 220	$ 1,362

Debt (Tax-Exempt Financings) (Details) - USD ($) $ in Millions	1 Months Ended
	Sep. 30, 2023	Dec. 31, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Long-term debt		$ 12,840
Tax-exempt
Debt Instrument [Line Items]
Long-term debt		1,409			$ 1,281
Principal		$ 1,418			$ 1,289
Solid Waste Disposal Revenue Bonds
Debt Instrument [Line Items]
Principal	$ 100		$ 50	$ 100
Weighted average maturity term	10 years

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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+ Details

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Employee Benefit Plans (Restricted Stock Unit Activity) (Details) - Restricted Stock Units (RSUs) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Number of RSUs (in thousands)
Beginning balance (in shares)	915	914	1,091
Granted (in shares)	184	250	259
Vested and issued (in shares)	(228)	(208)	(388)
Forfeited (in shares)	(30)	(41)	(48)
Beginning balance (in shares)	841	915	914
Number of Restricted Stock Units, Vested and unissued (in shares)	415
Weighted-Average Grant Date Fair Value per Share
Unissued, beginning balance (in dollars per share)	$ 93.35	$ 85.43	$ 77.19
Granted (in dollars per share)	184.28	133.03	122.54
Vested and Issued (in dollars per share)	102.81	95.24	74.34
Forfeited (in dollars per share)	139.24	117.54	110.92
Unissued, ending balance (in dollars per share)	107.81	$ 93.35	$ 85.43
Weighted Average Grant Date Fair Value per Share, Vested and unissued (in dollars per share)	$ 70.32
Weighted Average Remaining Contractual Term (years), Unissued	8 months 12 days
Aggregate Intrinsic Value, Unissued	$ 169,200

Employee Benefit Plans (Performance Shares and Compensation Expense) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Performance Share Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares awarded (in shares)	281,000	200,000	157,000
Percentage of award paid in stock	50.00%
Percentage of award paid in cash	50.00%
Performance period	3 years
Compensation expense	$ 30	$ 29	$ 22
Total unrecognized compensation expense related to outstanding restricted stock units and restricted shares	$ 25
Weighted average period for compensation expense recognition	1 year 6 months
Performance Share Units (PSUs) \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares awarded after performance period, as a percentage of targeted amount	0.00%
Performance Share Units (PSUs) \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares awarded after performance period, as a percentage of targeted amount	150.00%
Performance Shares Earned as Dividend Equivalents
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares awarded (in shares)	6,795	10,511	11,304
Executive Officer \| Performance Share Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares awarded (in shares)	153,883	80,452	79,043
Employees Other Than Named Executive Officers \| Performance Share Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares awarded (in shares)	120,433	108,560	66,296
Percentage of award paid in stock	100.00%

Revenue (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
Revenue (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Capitalized Contract Cost [Line Items]
Revenue from Contract with Customer, Duration [Extensible Enumeration]	Long-Term Contract with Customer [Member]
Deferred contract costs and sales commissions	$ 82	$ 83
Capitalized sales commissions to selling, general and administrative expenses
Capitalized Contract Cost [Line Items]
Capitalized contract cost, amortization	15	14	$ 13
Other deferred contract costs as a reduction of revenue
Capitalized Contract Cost [Line Items]
Capitalized contract cost, amortization	$ 4	$ 5	$ 6

Employee Benefit Plans (Performance Shares Activity) (Details) - Performance Share Units (PSUs) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Number of PSUs (in thousands)
Beginning balance (in shares)	688	756	857
Granted (in shares)	281	200	157
Vested and issued (in shares)	(420)	(227)	(234)
Forfeited (in shares)	(25)	(41)	(24)
Beginning balance (in shares)	524	688	756
Weighted-Average Grant Date Fair Value per Share
Beginning balance (in dollars per share)	$ 101.48	$ 95.19	$ 84.79
Granted (in dollars per share)	142.50	138.03	124.29
Vested and Issued (in dollars per share)	90.54	100.06	76.24
Forfeited (in dollars per share)	136.27	123.30	109.62
Ending balance (in dollars per share)	$ 125.70	$ 101.48	$ 95.19

Goodwill and Other Intangible Assets, Net (Tables)

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of the activity and balances in goodwill accounts, net, by operating segment

A summary of the activity and balances in goodwill accounts by reporting segment follows:


	Balance as of December 31, 2023		Acquisitions		Divestitures		Adjustments and Other		Balance as of December 31, 2024
Group 1	$	7,312	$	161	$	—	$	19	$	7,492
Group 2	6,445		—		—		(7)		6,438
Group 3	2,077		15		—		(40)		2,052
Total	$	15,834	$	176	$	—	$	(28)	$	15,982


	Balance as of December 31, 2022		Acquisitions		Divestitures		Adjustments and Other		Balance as of December 31, 2023
Group 1	$	6,638	$	675	$	—	$	(1)	$	7,312
Group 2	6,238		208		(2)		1		6,445
Group 3	1,575		275		—		227		2,077
Total	$	14,451	$	1,158	$	(2)	$	227	$	15,834

Schedule of the activity and balances by intangible asset type

A summary of the activity and balances by intangible asset type follows:


	Gross Intangible Assets								Accumulated Amortization								Other Intangible Assets, Net as of December 31, 2024
	Balance as of December 31, 2023		Acquisitions		Adjustments and Other		Balance as of December 31, 2024		Balance as of December 31, 2023		Additions Charged to Expense		Adjustments and Other		Balance as of December 31, 2024
Customer relationships	$	632	$	38	$	20	$	690	$	(166)	$	(69)	$	20	$	(215)	$	475

Other intangible assets	53		6		32		91		(23)		(10)		13		(20)		71
Total	$	685	$	44	$	52	$	781	$	(189)	$	(79)	$	33	$	(235)	$	546


	Gross Intangible Assets								Accumulated Amortization								Other Intangible Assets, Net as of December 31, 2023
	Balance as of December 31, 2022		Acquisitions		Adjustments and Other		Balance as of December 31, 2023		Balance as of December 31, 2022		Additions Charged to Expense		Adjustments and Other		Balance as of December 31, 2023
Customer relationships	$	1,013	$	197	$	(578)	$	632	$	(709)	$	(54)	$	597	$	(166)	$	466

Other intangible assets	145		7		(99)		53		(102)		(12)		91		(23)		30
Total	$	1,158	$	204	$	(677)	$	685	$	(811)	$	(66)	$	688	$	(189)	$	496

Schedule of amortization expense

Based on the amortizable intangible assets recorded in the consolidated balance sheet as of December 31, 2024, amortization expense for each of the next five years is estimated as follows:


2025	$	78
2026	$	74
2027	$	67
2028	$	64
2029	$	58

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

+ Details

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Basic earnings per share:
Net income attributable to Republic Services, Inc.	$ 2,043,173	$ 1,730,985	$ 1,487,586
Weighted average common shares outstanding (in shares)	314,399	316,182	316,530
Basic earnings per share (in dollars per share)	$ 6.50	$ 5.47	$ 4.70
Diluted earnings per share:
Net income attributable to Republic Services, Inc.	$ 2,043,173	$ 1,730,985	$ 1,487,586
Weighted average common shares outstanding (in shares)	314,399	316,182	316,530
Effect of dilutive securities:
Weighted average common and common equivalent shares outstanding (in shares)	314,809	316,665	317,080
Diluted earnings per share (in dollars per share)	$ 6.49	$ 5.47	$ 4.69
Antidilutive securities not included in the diluted earnings per share calculations (in shares) (less than)	0	1,000	1,000
Restricted Stock Units (RSUs)
Effect of dilutive securities:
Unvested awards (in shares)	126	104	152
Performance Share Units (PSUs)
Effect of dilutive securities:
Unvested awards (in shares)	284	379	398

Leases (Aggregate Principal Payments) (Details)	Dec. 31, 2024	Dec. 31, 2023
Weighted-average remaining lease term (years)
Operating leases	6 years 1 month 6 days	6 years 10 months 24 days
Finance leases	27 years 9 months 18 days	27 years 1 month 6 days
Weighted-average discount rate
Operating leases	3.30%	2.90%
Finance leases	4.30%	4.40%

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash provided by operating activities:
Net income	$ 2,044	$ 1,731	$ 1,488
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation, depletion, amortization and accretion	1,784	1,599	1,441
Non-cash interest expense	71	86	72
Stock-based compensation	42	41	39
Deferred tax provision (benefit)	87	102	181
Provision for doubtful accounts, net of adjustments	27	53	41
Loss on extinguishment of debt	2	0	0
(Gain) loss on disposition of assets and asset impairments, net	(19)	(1)	(9)
Environmental adjustments	7	2	3
Loss from unconsolidated equity method investments	255	94	166
Other non-cash items	(10)	(1)	0
Change in assets and liabilities, net of effects from business acquisitions and divestitures:
Accounts receivable	(76)	(71)	(199)
Prepaid expenses and other assets	(171)	(30)	(84)
Accounts payable	(27)	83	106
Capping, closure and post-closure expenditures	(56)	(61)	(65)
Remediation expenditures	(62)	(55)	(55)
Other liabilities	14	43	65
Payments from retirement of certain hedging relationships	24	3	0
Cash provided by operating activities	3,936	3,618	3,190
Cash used in investing activities:
Purchases of property and equipment	(1,855)	(1,631)	(1,454)
Proceeds from sales of property and equipment	47	29	33
Cash used in acquisitions and investments, net of cash and restricted cash acquired	(753)	(2,065)	(3,039)
Cash received from business divestitures	2	6	51
Purchases of restricted marketable securities	(26)	(29)	(20)
Sales of restricted marketable securities	24	13	20
Other	0	10	(14)
Cash used in investing activities	(2,561)	(3,667)	(4,423)
Cash provided by (used in) financing activities:
Proceeds from credit facilities and notes payable, net of fees	24,020	39,221	16,446
Proceeds from issuance of senior notes, net of discount and fees	889	2,172	0
Payments of credit facilities and notes payable	(25,109)	(40,411)	(14,282)
Issuances of common stock, net	(14)	(1)	(13)
Purchases of common stock for treasury	(482)	(262)	(203)
Cash dividends paid	(687)	(638)	(593)
Distributions paid to non-controlling interests in consolidated subsidiary	0	0	(1)
Contingent consideration payments	(15)	(19)	(10)
Cash provided by (used in) financing activities	(1,398)	62	1,344
Effect of foreign exchange rate changes on cash	(2)	1	(3)
Increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents	(25)	14	108
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year	228	214	106
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of year	$ 203	$ 228	$ 214

Debt (Finance Leases and Other) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Finance leases and other	$ 315	$ 251
Arizona
Debt Instrument [Line Items]
Finance leases and other	$ 53

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Business Acquisitions, Investments and Restructuring Charges

12 Months Ended

Dec. 31, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Business Acquisitions, Investments and Restructuring Charges

BUSINESS ACQUISITIONS, INVESTMENTS AND RESTRUCTURING CHARGES

We acquired various environmental services businesses during the years ended December 31, 2024 and 2023. The purchase price paid for these business acquisitions and the allocations of the purchase price follows:


	2024		2023
Purchase price:
Cash used in acquisitions, net of cash acquired of $1 and $23, respectively	$	274	$	1,756

Holdbacks	7		19
Fair value, future minimum lease payments	—		1

Total	$	281	$	1,776
Allocated as follows:

Accounts receivable	6		67
Prepaid expenses	—		6
Landfill development costs	—		49
Property and equipment	57		374
Operating right-of-use lease assets	2		14



Parts and supplies	2		3
Accounts payable	—		(20)
Deferred revenue	(2)		(11)
Environmental remediation liabilities	—		(6)
Closure and post-closure liabilities	—		(11)
Operating right-of-use lease liabilities	(2)		(14)
Deferred income tax liabilities	(1)		(25)
Other liabilities	(1)		(12)
Fair value of tangible assets acquired and liabilities assumed	61		414
Excess purchase price to be allocated	$	220	$	1,362
Excess purchase price allocated as follows:
Other intangible assets	$	44	$	204
Goodwill	176		1,158

Total allocated	$	220	$	1,362

Certain of the purchase price allocations are preliminary and based on information existing at the acquisition dates. Accordingly, the purchase price allocations are subject to change. For the acquisitions that closed during 2024, we expect that a majority of the goodwill and intangible assets recognized as a result of these acquisitions will be deductible for tax purposes.

These acquisitions are not material to the Company's results of operations, individually or in the aggregate. As a result, no pro forma financial information is provided.

In February 2025, we acquired all of the issued and outstanding shares of COP Shamrock Parent, Inc. (Shamrock). Shamrock is a leading provider of environmental solutions offering industrial waste and wastewater treatment services. Shamrock’s environmental solutions operations are primarily located in the northeastern and southeastern United States and provide us with a platform to pursue additional growth in our environmental solutions line of business.

As of February 13, 2025, we paid approximately $700 million for acquisitions that closed through that date.

Investments

In 2024 and 2023, we acquired non-controlling equity interests in certain limited liability companies that qualified for investment tax credits under Section 48 of the Internal Revenue Code. We account for these investments under the equity method of accounting utilizing the Hypothetical Liquidation at Book Value (HLBV) method. In exchange for our non-controlling interests, we made capital contributions of approximately $236 million and $222 million, which were recorded to other assets in our December 31, 2024 and 2023 consolidated balance sheets, respectively. During 2024 and 2023, we decreased the carrying value of these investments by approximately $254 million and $102 million, respectively, as a result of cash distributions and our share of income and loss pursuant to the terms of the limited liability company agreements. Additionally, our tax provisions reflect benefits of approximately $222 million and $87 million for the years end December 31, 2024 and 2023, respectively, due to the tax credits related to these investments. For further discussion of the income tax benefits, refer to Note 11, Income Taxes, in Part II, Item 8 of this Annual Report on Form 10-K for the year ended December 31, 2024.

In 2024, we acquired a non-controlling equity interest in a joint venture with a landfill gas-to-energy developer to construct a number of renewable natural gas projects at certain of our landfill locations in Illinois. During the year ended December 31, 2024, we invested $35 million in the joint venture. Additionally, our tax provision reflects a benefit of approximately $8 million for the year ended December 31, 2024 related to these qualified investments in renewable natural gas projects. This investment is an unconsolidated variable interest entity (VIE) for which we do not have the power to direct the significant activities of the business, and it is accounted for under the equity method of accounting. Our risk of loss is materially consistent with our contributions to-date.

In 2024, we acquired a non-controlling equity interest in a thermal processing facility that treats and recycles contaminated soil, hazardous and non-hazardous waste, and contaminated water to expand our environmental services offerings in Canada. During the year ended December 31, 2024 we invested $27 million in the joint venture. The investment is accounted for under the equity method of accounting.

In 2022, we acquired a non-controlling equity interest in a joint venture with a landfill gas-to-energy developer to construct a number of renewable natural gas projects at our landfills across the United States. Certain of these investments qualified for investment tax credits under Section 48 of the Internal Revenue Code. As of December 31, 2024 and 2023, we had invested approximately $270 million and $170 million, respectively, in the joint venture. During the years ended December 31, 2024, 2023 and 2022, we contributed $98 million, $68 million and $137 million, respectively, in the joint venture. Additionally, our tax provision reflects a benefit of approximately $6 million for the year ended December 31, 2024 related to these qualified investments in renewable natural gas projects. The investment is accounted for under the equity method of accounting.

In 2022, we acquired a non-controlling equity interest in a joint venture with Ravago, Blue Polymers, LLC, intended to help create vertical integration in the recycling market, and to further advance circularity by acquiring all olefins produced by the Company's Polymer Centers and produce custom blended pellets for food-grade and non-food-grade packaging. As of December 31, 2024 and 2023, we had invested approximately $55 million and $19 million, respectively, in the joint venture. During the years ended December 31, 2024, 2023 and 2022, we contributed $38 million, $9 million and $10 million, respectively, in the joint venture. This investment is an unconsolidated variable interest entity (VIE) for which we do not have the power to direct the significant activities of the business, and it is accounted for under the equity method of accounting. Our risk of loss is materially consistent with our contributions to-date.

Restructuring Charges

In 2024, 2023 and 2022 we incurred restructuring charges of $29 million, $33 million, $27 million, respectively. The 2024 charges primarily related to the redesign of our asset management, and customer and order management software systems. Of the 2023 charges, $9 million related to early termination of certain leases and $24 million related to the redesign of our asset management, and customer and order management software systems. The 2022 charges primarily related to the redesign of our general ledger, budgeting and procurement enterprise resource planning systems. We paid $25 million, $39 million, and $20 million during 2024, 2023 and 2022, respectively, related to these restructuring efforts.

Segment Reporting (Reconciliation of Adjusted EBITDA to Income Before Income Tax Provision) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Adjusted EBITDA	$ 4,979	$ 4,447	$ 3,929
Other income (expense), net	(23)	(7)	2
Interest income	(9)	(6)	(3)
Interest expense	539	508	395
Depreciation, depletion and amortization	1,677	1,501	1,352
Accretion	107	98	89
Loss from unconsolidated equity method investments	255	94	166
Adjustment to withdrawal liability for multiemployer pension funds	0	5	(2)
Restructuring charges	29	33	27
Gain on certain divestitures and impairments, net	(30)	(4)	(6)
US Ecology, Inc. acquisition integration and deal costs	0	34	77
Loss on extinguishment of debt and other related costs	2	0	0
Income before income taxes	2,432	2,191	1,832
Operating Segments \| Group 1 Adjusted EBITDA
Segment Reporting Information [Line Items]
Adjusted EBITDA	2,353	2,135	1,967
Operating Segments \| Group 2 Adjusted EBITDA
Segment Reporting Information [Line Items]
Adjusted EBITDA	2,190	1,964	1,751
Operating Segments \| Group 3 Adjusted EBITDA
Segment Reporting Information [Line Items]
Adjusted EBITDA	$ 436	$ 348	$ 211

Summary of Significant Accounting Policies (Narrative) (Details)	12 Months Ended
	Dec. 31, 2024 USD ($) segment landfill reportingUnit	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Concentration Risk [Line Items]
Net book credit balances in our primary disbursement accounts	$ 121,000,000	$ 148,000,000
Restricted cash and marketable securities	208,000,000	164,000,000	$ 128,000,000
Insurance	149,000,000	121,000,000
Capitalized interest	$ 11,000,000	$ 8,000,000	$ 5,000,000
Post-closure period	30 years
Number of closed landfills \| landfill	125
Asset retirement obligation, costs to discharge, inflation rate	2.00%	2.00%	2.00%
Years of historical moving average increase of the U.S. Consumer Price Index used as our basis for inflation rate	20 years	10 years	10 years
Number of operating segments \| segment	3
Number of reporting units \| reportingUnit	3
Goodwill impairment losses	$ 0	$ 0	$ 0
Impairment losses for long-lived assets	$ 0	$ 0	$ 0
Minimum
Concentration Risk [Line Items]
Amortization period for other intangible assets	1 year
Maximum
Concentration Risk [Line Items]
Amortization period for other intangible assets	15 years

Leases

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Leases

LEASES

A summary of the lease classification on our consolidated balance sheet as of December 31, 2024 and 2023 follows:


		2024		2023
Assets
Operating right-of-use lease assets	Other assets	$	232	$	238
Finance lease assets	Property and equipment, net	294		287
Total leased assets		$	526	$	525

Liabilities
Current
Operating	Other accrued liabilities	$	55	$	55
Finance	Notes payable and current maturities of long-term debt	13		13
Long-term
Operating	Other long-term liabilities	189		195
Finance	Long-term debt, net of current maturities	249		238
Total lease liabilities		$	506	$	501

A summary of the lease cost reflected in our consolidated statements of income for the years ended December 31, 2024 and 2023 follows:


		2024		2023
Operating lease cost
Fixed lease cost	Cost of operations	$	50	$	60
Short-term lease cost	Cost of operations	105		89
Variable lease cost	Cost of operations	26		27
Finance lease cost
Amortization of leased assets	Depreciation, depletion and amortization	17		16
Interest on lease liabilities	Interest expense	9		9
Variable lease cost	Interest expense	26		22
Total lease cost		$	233	$	223

During the years ended December 31, 2024 and 2023, we recognized changes in our operating right-of-use lease liabilities and assets, resulting from the recognition of non-cash lease expense of $46 million and $48 million, respectively.

As of December 31, 2024, maturities for operating and finance lease liabilities were as follows:


	Operating Leases		Finance Leases		Total
2025	$	61	$	22	$	83
2026	52		20		72
2027	42		19		61
2028	34		20		54
2029	27		18		45
Thereafter	53		346		399
Total lease payments	269		445		714
Less: interest	(25)		(183)		(208)
Present value of lease liabilities	$	244	$	262	$	506

A summary of the weighted-average remaining lease term and weighted-average discount rate as of December 31, 2024 and 2023 follows:


	2024		2023
Weighted-average remaining lease term (years)
Operating leases	6.1		6.9
Finance leases	27.8		27.1
Weighted-average discount rate
Operating leases	3.3	%	2.9	%
Finance leases	4.3	%	4.4	%

Supplemental cash flow and other non-cash information for the years ended December 31, 2024 and 2023 follow:


	2024		2023
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	181	$	177
Operating cash flows from finance leases	$	35	$	31
Financing cash flows from finance leases	$	10	$	12
Leased assets obtained in exchange for new finance lease liabilities	$	25	$	17
Leased assets obtained in exchange for new operating lease liabilities	$	44	$	33

Leases

LEASES

A summary of the lease classification on our consolidated balance sheet as of December 31, 2024 and 2023 follows:


		2024		2023
Assets
Operating right-of-use lease assets	Other assets	$	232	$	238
Finance lease assets	Property and equipment, net	294		287
Total leased assets		$	526	$	525

Liabilities
Current
Operating	Other accrued liabilities	$	55	$	55
Finance	Notes payable and current maturities of long-term debt	13		13
Long-term
Operating	Other long-term liabilities	189		195
Finance	Long-term debt, net of current maturities	249		238
Total lease liabilities		$	506	$	501

A summary of the lease cost reflected in our consolidated statements of income for the years ended December 31, 2024 and 2023 follows:


		2024		2023
Operating lease cost
Fixed lease cost	Cost of operations	$	50	$	60
Short-term lease cost	Cost of operations	105		89
Variable lease cost	Cost of operations	26		27
Finance lease cost
Amortization of leased assets	Depreciation, depletion and amortization	17		16
Interest on lease liabilities	Interest expense	9		9
Variable lease cost	Interest expense	26		22
Total lease cost		$	233	$	223

As of December 31, 2024, maturities for operating and finance lease liabilities were as follows:


	Operating Leases		Finance Leases		Total
2025	$	61	$	22	$	83
2026	52		20		72
2027	42		19		61
2028	34		20		54
2029	27		18		45
Thereafter	53		346		399
Total lease payments	269		445		714
Less: interest	(25)		(183)		(208)
Present value of lease liabilities	$	244	$	262	$	506

A summary of the weighted-average remaining lease term and weighted-average discount rate as of December 31, 2024 and 2023 follows:


	2024		2023
Weighted-average remaining lease term (years)
Operating leases	6.1		6.9
Finance leases	27.8		27.1
Weighted-average discount rate
Operating leases	3.3	%	2.9	%
Finance leases	4.3	%	4.4	%

Supplemental cash flow and other non-cash information for the years ended December 31, 2024 and 2023 follow:


	2024		2023
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	181	$	177
Operating cash flows from finance leases	$	35	$	31
Financing cash flows from finance leases	$	10	$	12
Leased assets obtained in exchange for new finance lease liabilities	$	25	$	17
Leased assets obtained in exchange for new operating lease liabilities	$	44	$	33

Changes in Accumulated Other Comprehensive Loss by Component (Tables)

12 Months Ended

Dec. 31, 2024

Equity [Abstract]

Summary of changes in accumulated other comprehensive income (loss) by component

A summary of changes in accumulated other comprehensive loss, net of tax, by component, for the years ended December 31, 2024, 2023 and 2022 follows:


	Cash Flow Hedges		Defined Benefit Pension Plan		Foreign Currency Translation		Total
Balance as of December 31, 2021	$	(26)	$	11	$	—	$	(15)
Other comprehensive loss before reclassifications	9		(2)		(5)		2
Amounts reclassified from accumulated other comprehensive loss	1		—		—		1
Net current-period other comprehensive income (loss)	10		(2)		(5)		3
Balance as of December 31, 2022	(16)		9		(5)		(12)
Other comprehensive income (loss) before reclassifications	14		—		(5)		9
Amounts reclassified from accumulated other comprehensive loss	(9)		—		—		(9)
Net current-period other comprehensive income (loss)	5		—		(5)		—
Balance as of December 31, 2023	(11)		9		(10)		(12)
Other comprehensive income (loss) before reclassifications	6		(3)		(3)		—
Amounts reclassified from accumulated other comprehensive loss	(8)		(6)		—		(14)
Net current-period other comprehensive income (loss)	(2)		(9)		(3)		(14)
Balance as of December 31, 2024	$	(13)	$	—	$	(13)	$	(26)

Schedule of reclassifications out of accumulated other comprehensive income (loss)

A summary of reclassifications out of accumulated other comprehensive loss for the years ended December 31, 2024, 2023 and 2022 follows:


	Amount Reclassified from Accumulated Other Comprehensive Loss
Details about Accumulated Other Comprehensive Loss Components	2024		2023		2022		Affected Line Item in the Statement Where Net Income is Presented
Gain (loss) on cash flow hedges:
Terminated interest rate locks	$	(3)	$	(5)	$	(6)	Interest expense
2022 Interest Rate Swap	14		17		5		Interest expense
Total before tax	11		12		(1)
Tax (provision) benefit	(3)		(3)		—
Net of tax	8		9		(1)

Pension gains:
Pension settlement	8		1		1		Other income
Tax provision	(2)		—		—
Net of tax	6		1		1
Total income (loss) reclassified into earnings, net of tax	$	14	$	10	$	—

Landfill and Environmental Costs (Narrative) (Details) $ in Millions, cubicYard in Billions			12 Months Ended
	Jan. 17, 2025 USD ($)	Sep. 27, 2018 USD ($)	Dec. 31, 2024 USD ($) cubicYard landfill	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Environmental Exit Cost [Line Items]
Number of active solid waste landfills \| landfill			208
Total available disposal capacity (in cubic yards) \| cubicYard			5
Number of closed landfills \| landfill			125
Net increase (decrease) in amortization expense			$ 13	$ 5	$ 6
Aggregate potential remediation liability, amount higher than amount recorded			273
Payments for management and monitoring of remediation area			62	55	55
Remediation liability			447	$ 485	$ 487	$ 455
Loss contingency expected to be paid in year one			63
Bridgeton Closed Landfill
Environmental Exit Cost [Line Items]
Payments for management and monitoring of remediation area			12
Remediation liability			62
Loss contingency expected to be paid in year one			$ 11
West Lake Landfill Superfund Site
Environmental Exit Cost [Line Items]
Anticipated remediation costs		$ 229
West Lake Landfill Superfund Site \| Subsequent Event
Environmental Exit Cost [Line Items]
Anticipated remediation costs	$ 392
West Lake Landfill Superfund Site \| Minimum
Environmental Exit Cost [Line Items]
Time period allotted for remediation		4 years
West Lake Landfill Superfund Site \| Maximum
Environmental Exit Cost [Line Items]
Time period allotted for remediation		5 years

Income Taxes (Provision for Income Taxes) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current:
Federal	$ 207	$ 281	$ 72
State	120	109	82
Deferred:
Federal	55	72	164
State	32	29	17
Uncertain tax positions and interest and other	(26)	(31)	9
Provision for income taxes	$ 388	$ 460	$ 344

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.7)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-8

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-10

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(9))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Subparagraph (a)
-SubTopic 20
-Topic 740
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482659/740-20-45-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h))
-SubTopic 10
-Topic 235
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

+ Details

Landfill and Environmental Costs (Accrued Landfill and Environmental Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Environmental Remediation Obligations [Abstract]
Landfill final capping, closure and post-closure liabilities	$ 2,144	$ 1,937	$ 1,786	$ 1,507
Environmental remediation	447	485	$ 487	$ 455
Total accrued landfill and environmental costs	2,591	2,422
Less: current portion	(159)	(141)
Long-term portion	$ 2,432	$ 2,281

Landfill and Environmental Costs (Expected Undiscounted Future Payments for Remediation Costs) (Details) $ in Millions	Dec. 31, 2024 USD ($)
Environmental Remediation Obligations [Abstract]
2025	$ 63
2026	59
2027	46
2028	46
2029	28
Thereafter	256
Total expected undiscounted future payments for remediation costs	$ 498

Debt (Senior Notes and Debentures) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2024	Mar. 31, 2023
Debt Instrument [Line Items]
Loss on extinguishment of debt and other related costs	$ 2	$ 0	$ 0
Senior notes: April 2029
Debt Instrument [Line Items]
Principal	$ 750	$ 750
Interest rate	4.875%	4.875%
Senior notes: April 2029 March Issuance
Debt Instrument [Line Items]
Principal					$ 400
Senior notes: April 2029 December Issuance
Debt Instrument [Line Items]
Principal		$ 350
Senior notes: April 2034
Debt Instrument [Line Items]
Principal	$ 800	800			$ 800
Interest rate	5.00%
Term Loan Facility
Debt Instrument [Line Items]
Principal	$ 0	500
Loss on extinguishment of debt and other related costs		1
Senior notes: December 2033
Debt Instrument [Line Items]
Principal	$ 650	650
Interest rate	5.00%
Senior notes: November 2029
Debt Instrument [Line Items]
Principal	$ 400	0		$ 400
Interest rate	5.00%
Senior notes: November 2034
Debt Instrument [Line Items]
Principal	$ 500	$ 0		$ 500
Interest rate	5.20%

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
Revenue	$ 16,032,000	$ 14,965,000	$ 13,511,000
Expenses:
Cost of operations	9,350,000	8,943,000	8,205,000
Depreciation, depletion and amortization	1,677,000	1,501,000	1,352,000
Accretion	107,000	98,000	89,000
Selling, general and administrative	1,674,000	1,609,000	1,454,000
Adjustment to withdrawal liability for multiemployer pension funds	0	5,000	(2,000)
Gain on business divestitures and impairments, net	(1,000)	(4,000)	(6,000)
Restructuring charges	29,000	33,000	27,000
Operating income	3,196,000	2,780,000	2,392,000
Interest expense	(539,000)	(508,000)	(395,000)
Loss from unconsolidated equity method investments	(255,000)	(94,000)	(166,000)
Loss on extinguishment of debt	(2,000)	0	0
Interest income	9,000	6,000	3,000
Other income (expense), net	23,000	7,000	(2,000)
Income before income taxes	2,432,000	2,191,000	1,832,000
Provision for income taxes	388,000	460,000	344,000
Net income	2,044,000	1,731,000	1,488,000
Net income attributable to non-controlling interests in consolidated subsidiary	(1,000)	0	0
Net income attributable to Republic Services, Inc.	$ 2,043,173	$ 1,730,985	$ 1,487,586
Basic earnings per share attributable to Republic Services, Inc. stockholders:
Basic earnings per share (in dollars per share)	$ 6.50	$ 5.47	$ 4.70
Weighted average common shares outstanding (in shares)	314,399	316,182	316,530
Diluted earnings per share attributable to Republic Services, Inc. stockholders:
Diluted earnings per share (in dollars per share)	$ 6.49	$ 5.47	$ 4.69
Weighted average common and common equivalent shares outstanding (in shares)	314,809	316,665	317,080
Cash dividends per common share ( in dollars per share)	$ 2.23	$ 2.06	$ 1.91

Share Repurchases and Dividends (Narrative) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	1 Months Ended	3 Months Ended	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Jan. 01, 2024	Oct. 31, 2020
Equity, Class of Treasury Stock [Line Items]
Share repurchase authorized amount						$ 3,000	$ 2,000
Stock repurchased and pending settlement (in shares)	1	1	1	0	0
Stock repurchased and pending settlement	$ 10	$ 10	$ 10
Remaining authorized purchase capacity	2,500	$ 2,500	2,500
Shares returned to unissued status			$ 0
Quarterly dividend per share (in dollars per share)		$ 0.580	$ 2.23	$ 2.06	$ 1.91
Cash dividends declared			$ 699	$ 650	$ 603
Quarterly dividend payable	181	$ 181	$ 181	168
Treasury Stock
Equity, Class of Treasury Stock [Line Items]
Shares returned to unissued status (in shares)			8
Shares returned to unissued status			$ (1,195)
Common Stock
Equity, Class of Treasury Stock [Line Items]
Shares returned to unissued status (in shares)			8
Shares returned to unissued status	$ 1
Additional Paid-In Capital
Equity, Class of Treasury Stock [Line Items]
Shares returned to unissued status			$ 1,195
Retained Earnings
Equity, Class of Treasury Stock [Line Items]
Cash dividends declared			$ 699	$ 650	$ 603
2021 Plan
Equity, Class of Treasury Stock [Line Items]
Reserve for stock issuance (in shares)	11	11	11

Changes in Accumulated Other Comprehensive Loss by Component (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other income	$ 23	$ 7	$ (2)
Amount Reclassified from Accumulated Other Comprehensive Loss \| Defined Benefit Pension Plan
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other income	$ 8	$ 1	$ 1

Summary of Significant Accounting Policies (Allowance for Doubtful Accounts) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of year	$ 83	$ 52	$ 39
Additions charged to expense	27	53	41
Accounts written-off	(36)	(22)	(28)
Balance at end of year	$ 74	$ 83	$ 52

Goodwill and Other Intangible Assets, Net (Finite-lived Intangible Assets) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Gross Intangible Assets
Beginning Balance	$ 685	$ 1,158
Acquisitions	44	204
Adjustments and Other	52	(677)
Ending Balance	781	685
Accumulated Amortization
Beginning Balance	(189)	(811)
Additions Charged to Expense	(79)	(66)
Adjustments and Other	33	688
Ending Balance	(235)	(189)
Other Intangible Assets, Net	546	496
Customer relationships
Gross Intangible Assets
Beginning Balance	632	1,013
Acquisitions	38	197
Adjustments and Other	20	(578)
Ending Balance	690	632
Accumulated Amortization
Beginning Balance	(166)	(709)
Additions Charged to Expense	(69)	(54)
Adjustments and Other	20	597
Ending Balance	(215)	(166)
Other Intangible Assets, Net	475	466
Other intangible assets
Gross Intangible Assets
Beginning Balance	53	145
Acquisitions	6	7
Adjustments and Other	32	(99)
Ending Balance	91	53
Accumulated Amortization
Beginning Balance	(23)	(102)
Additions Charged to Expense	(10)	(12)
Adjustments and Other	13	91
Ending Balance	(20)	(23)
Other Intangible Assets, Net	$ 71	$ 30

Landfill and Environmental Costs (Environmental Remediation Liabilities) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Activity in environmental remediation liabilities
Environmental remediation liabilities, beginning of year	$ 485	$ 487	$ 455
Net additions charged to expense	7	2	3
Payments	(62)	(55)	(55)
Accretion expense (non-cash interest expense)	17	18	17
Acquisitions, net of divestitures and other adjustments	0	33	67
Environmental remediation liabilities, end of year	447	485	487
Less: current portion	(63)	(69)	(57)
Long-term portion	$ 384	$ 416	$ 430
Environmental Loss Contingency, Statement of Financial Position [Extensible Enumeration]	Accrued Capping, Closure, Post-closure and Environmental Costs, Long-term portion	Accrued Capping, Closure, Post-closure and Environmental Costs, Long-term portion	Accrued Capping, Closure, Post-closure and Environmental Costs, Long-term portion
Environmental Loss Contingency, Current, Statement of Financial Position [Extensible Enumeration]	Accrued Capping, Closure, Post-closure and Environmental Costs	Accrued Capping, Closure, Post-closure and Environmental Costs	Accrued Capping, Closure, Post-closure and Environmental Costs
Environmental Loss Contingency, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Long-term portion	Long-term portion	Long-term portion

Changes in Accumulated Other Comprehensive Loss by Component

12 Months Ended

Dec. 31, 2024

Equity [Abstract]

Changes in Accumulated Other Comprehensive Loss by Component

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE LOSS BY COMPONENT

A summary of changes in accumulated other comprehensive loss, net of tax, by component, for the years ended December 31, 2024, 2023 and 2022 follows:


	Cash Flow Hedges		Defined Benefit Pension Plan		Foreign Currency Translation		Total
Balance as of December 31, 2021	$	(26)	$	11	$	—	$	(15)
Other comprehensive loss before reclassifications	9		(2)		(5)		2
Amounts reclassified from accumulated other comprehensive loss	1		—		—		1
Net current-period other comprehensive income (loss)	10		(2)		(5)		3
Balance as of December 31, 2022	(16)		9		(5)		(12)
Other comprehensive income (loss) before reclassifications	14		—		(5)		9
Amounts reclassified from accumulated other comprehensive loss	(9)		—		—		(9)
Net current-period other comprehensive income (loss)	5		—		(5)		—
Balance as of December 31, 2023	(11)		9		(10)		(12)
Other comprehensive income (loss) before reclassifications	6		(3)		(3)		—
Amounts reclassified from accumulated other comprehensive loss	(8)		(6)		—		(14)
Net current-period other comprehensive income (loss)	(2)		(9)		(3)		(14)
Balance as of December 31, 2024	$	(13)	$	—	$	(13)	$	(26)

A summary of reclassifications out of accumulated other comprehensive loss for the years ended December 31, 2024, 2023 and 2022 follows:


	Amount Reclassified from Accumulated Other Comprehensive Loss
Details about Accumulated Other Comprehensive Loss Components	2024		2023		2022		Affected Line Item in the Statement Where Net Income is Presented
Gain (loss) on cash flow hedges:
Terminated interest rate locks	$	(3)	$	(5)	$	(6)	Interest expense
2022 Interest Rate Swap	14		17		5		Interest expense
Total before tax	11		12		(1)
Tax (provision) benefit	(3)		(3)		—
Net of tax	8		9		(1)

Pension gains:
Pension settlement	8		1		1		Other income
Tax provision	(2)		—		—
Net of tax	6		1		1
Total income (loss) reclassified into earnings, net of tax	$	14	$	10	$	—

In 2024, we terminated our qualified defined benefit pension plan, the BFI Retirement Plan (the Plan). The Plan covered certain employees in the United States, including some employees subject to collective bargaining agreements. Plan participants were provided the opportunity to receive their full accrued benefits from plan assets by either electing immediate lump sum distributions or annuity contracts with a qualifying third-party annuity provider. The purchase of the annuity contracts was funded directly by assets of the defined benefit pension plan. As a result, the plan was settled resulting in the recognition of a non-cash gain of $8 million related to the accelerated recognition of the proportional share of unamortized net actuarial gains previously recorded in accumulated other comprehensive loss. This gain was recorded to other income, net in our consolidated statements of income. All remaining obligations were settled as of December 31, 2024.

Employee Benefit Plans (Stock-Based Compensation Narrative) (Details) shares in Millions	Dec. 31, 2024 shares
2021 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Reserve for stock issuance (in shares)	11

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-3

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-Topic 718
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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-Name Accounting Standards Codification
-Section 50
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-Subparagraph (c)(1)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 2
-Subparagraph (c)(1)(iv)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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-Topic 718
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-Name Accounting Standards Codification
-Section 50
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-Subparagraph (c)(1)(iv)(01)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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-Topic 718
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-Name Accounting Standards Codification
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-Paragraph 2
-Subparagraph (c)(1)(iv)(04)
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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Reference 27: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Segment Reporting (Summarized Financial Information) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Gross Revenue	$ 18,418	$ 17,279	$ 15,645
Net Revenue	16,032	14,965	13,511
Cost of Operations	9,350	8,943	8,205
SG&A	1,674	1,609	1,454
Other Segment Items	29	(34)	(77)
Adjusted EBITDA	4,979	4,447	3,929
Capital Expenditures	1,855	1,631	1,454
Total Assets	32,402	31,410	29,053
Operating Segments \| Recycling & Waste Subtotal
Segment Reporting Information [Line Items]
Gross Revenue	16,223	15,335	14,136
Revenue Allocations	238	187	202
Net Revenue	14,189	13,340	12,303
Cost of Operations	8,208	7,911	7,387
SG&A	1,409	1,330	1,198
Other Segment Items	29	0	0
Adjusted EBITDA	4,543	4,099	3,718
Capital Expenditures	1,448	1,249	1,162
Total Assets	25,296	24,653	22,946
Operating Segments \| Group 1
Segment Reporting Information [Line Items]
Gross Revenue	8,332	7,769	7,107
Revenue Allocations	123	96	103
Net Revenue	7,220	6,694	6,120
Cost of Operations	4,129	3,878	3,541
SG&A	738	681	612
Other Segment Items	0	0	0
Adjusted EBITDA	2,353	2,135	1,967
Capital Expenditures	874	707	620
Total Assets	14,250	13,665	12,418
Operating Segments \| Group 2
Segment Reporting Information [Line Items]
Gross Revenue	7,891	7,566	7,029
Revenue Allocations	115	91	99
Net Revenue	6,969	6,646	6,183
Cost of Operations	4,079	4,033	3,846
SG&A	671	649	586
Other Segment Items	29	0	0
Adjusted EBITDA	2,190	1,964	1,751
Capital Expenditures	574	542	542
Total Assets	11,046	10,988	10,528
Operating Segments \| Group 3 (Environmental Solutions)
Segment Reporting Information [Line Items]
Gross Revenue	1,864	1,701	1,262
Revenue Allocations	28	(20)	(7)
Net Revenue	1,843	1,625	1,208
Cost of Operations	1,142	1,032	818
SG&A	265	279	256
Other Segment Items	0	(34)	(77)
Adjusted EBITDA	436	348	211
Capital Expenditures	136	145	133
Total Assets	4,459	4,471	4,090
Intercompany Revenue and Corporate entities and other
Segment Reporting Information [Line Items]
Gross Revenue	(65)	(76)	(52)
Intercompany Revenue
Segment Reporting Information [Line Items]
Gross Revenue	(2,386)	(2,314)	(2,134)
Intercompany Revenue \| Recycling & Waste Subtotal
Segment Reporting Information [Line Items]
Gross Revenue	(2,272)	(2,182)	(2,035)
Intercompany Revenue \| Group 1
Segment Reporting Information [Line Items]
Gross Revenue	(1,235)	(1,171)	(1,090)
Intercompany Revenue \| Group 2
Segment Reporting Information [Line Items]
Gross Revenue	(1,037)	(1,011)	(945)
Intercompany Revenue \| Group 3 (Environmental Solutions)
Segment Reporting Information [Line Items]
Gross Revenue	(49)	(56)	(47)
Corporate entities and other
Segment Reporting Information [Line Items]
Gross Revenue	331	243	247
Revenue Allocations	(266)	(167)	(195)
Net Revenue	0	0	0
Capital Expenditures	271	237	159
Total Assets	$ 2,647	$ 2,286	$ 2,017

Goodwill and Other Intangible Assets, Net (Schedule of Goodwill) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Summary of the activity and balances in goodwill accounts, net, by operating segment [Roll forward]
Goodwill, Beginning Balance	$ 15,834	$ 14,451
Acquisitions	176	1,158
Divestitures	0	(2)
Adjustments and Other	(28)	227
Goodwill, Ending Balance	15,982	15,834
Group 1
Summary of the activity and balances in goodwill accounts, net, by operating segment [Roll forward]
Goodwill, Beginning Balance	7,312	6,638
Acquisitions	161	675
Divestitures	0	0
Adjustments and Other	19	(1)
Goodwill, Ending Balance	7,492	7,312
Group 2
Summary of the activity and balances in goodwill accounts, net, by operating segment [Roll forward]
Goodwill, Beginning Balance	6,445	6,238
Acquisitions	0	208
Divestitures	0	(2)
Adjustments and Other	(7)	1
Goodwill, Ending Balance	6,438	6,445
Group 3 (Environmental Solutions)
Summary of the activity and balances in goodwill accounts, net, by operating segment [Roll forward]
Goodwill, Beginning Balance	2,077	1,575
Acquisitions	15	275
Divestitures	0	0
Adjustments and Other	(40)	227
Goodwill, Ending Balance	$ 2,052	$ 2,077

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

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+ Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Revenue

12 Months Ended

Dec. 31, 2024

Revenue from Contract with Customer [Abstract]

Revenue

REVENUE

Our operations primarily consist of providing environmental services. The following table disaggregates our revenue by service line for the years ended December 31 (in millions of dollars and as a percentage of revenue):


	2024				2023				2022
Collection:
Residential	$	2,939	18.3	%	$	2,823	18.9	%	$	2,642	19.5	%
Small-container	4,820		30.1		4,439		29.7		3,946		29.2
Large-container	3,024		18.9		2,922		19.5		2,701		20.0
Other	72		0.4		69		0.4		54		0.4
Total collection	10,855		67.7		10,253		68.5		9,343		69.1
Transfer	1,780				1,699				1,575
Less: intercompany	(975)				(933)				(850)
Transfer, net	805		5.0		766		5.1		725		5.4
Landfill	2,981				2,885				2,682
Less: intercompany	(1,240)				(1,206)				(1,132)
Landfill, net	1,741		10.9		1,679		11.2		1,550		11.5
Environmental solutions	1,907				1,701				1,262
Less: intercompany	(64)				(76)				(54)
Environmental solutions, net	1,843		11.5		1,625		10.9		1,208		8.9
Other:
Recycling processing and commodity sales	409		2.5		312		2.1		359		2.7
Other non-core	379		2.4		330		2.2		326		2.4
Total other	788		4.9		642		4.3		685		5.1
Total revenue	$	16,032	100.0	%	$	14,965	100.0	%	$	13,511	100.0	%

Other non-core revenue consists primarily of revenue from National Accounts, which represents the portion of revenue generated from nationwide or regional contracts in markets outside our operating areas where the associated material handling is subcontracted to local operators. Consequently, substantially all of this revenue is offset with related subcontract costs, which are recorded in cost of operations.

See Note 15, Segment Reporting, for additional information regarding revenue by reportable segment.

Revenue by Service Line

Collection Services

Our collection business involves the collection of material for transport to transfer stations, or directly to landfills or recycling centers. Our collection services business includes both recurring and temporary customer relationships. Our standard contract duration is three years, although some of our exclusive franchises are for significantly longer periods. The fees received for collection services are based primarily on the market, collection frequency, type of service, type and volume or weight of the material collected, the distance to the disposal facility and the cost of disposal.

In general, small-container and residential collection fees are billed monthly or quarterly in advance. Our large-container customers are typically billed on a monthly basis based on the nature of the services provided during the period.

Revenue recognized under these agreements is variable in nature based on the number of residential homes or businesses serviced during the period, the frequency of collection and the volume of material collected. In addition, certain of our contracts have annual price escalation clauses that are tied to changes in an underlying base index such as a consumer price index which are unknown at contract inception.

Transfer Services

Revenue at our transfer stations is primarily generated by charging tipping or disposal fees. The fees received for transfer services are based primarily on the market, type and volume or weight of the material accepted, the distance to the disposal facility and the cost of disposal. In general, fees are billed and revenue is recognized at the time the service is performed.

Revenue recognized under these agreements is variable in nature based on the volume and nature of the material accepted at the transfer station.

Landfill Services

Revenue at our landfills is primarily generated by charging tipping fees to third parties based on the volume disposed and the nature of the waste. In general, fees are variable in nature and revenue is recognized at the time the waste is disposed at the facility.

Environmental Solutions

Environmental solutions revenue is primarily generated from the fees we charge for the collection, treatment, consolidation, disposal and recycling of hazardous and non-hazardous waste, field and industrial services, equipment rental, emergency response and standby services and in-plant services, such as transportation and logistics, including at our transfer, storage and disposal facilities (TSDF). Activity for this service line varies across markets and reflects the regulatory environment, pricing and disposal alternatives available in any given market. Revenue recognized under these agreements is variable in nature and primarily based on the volume and type of waste accepted or processed during the period. For certain field and industrial services contracts, we have a right to consideration from our customers in an amount that corresponds directly with the value to the customer of the Company's performance completed to date. Therefore, we have applied the practical expedient to recognize revenue in the amount to which we have the right to invoice.

Recycling Processing and Commodity Sales

Our recycling centers generate revenue through the processing and sale of old corrugated cardboard (OCC), old newsprint (ONP), aluminum, glass, plastic and other materials at market prices. In certain instances, we issue recycling rebates to our municipal or large-container customers, which can be based on the price we receive upon the final sale of recycled commodities, a fixed contractual rate or other measures. We also receive rebates when we dispose of recycled commodities at third-party facilities. The fees received are based primarily on the market, type and volume or weight of the materials sold. In general, fees are billed and revenue is recognized at the time title is transferred. Revenue recognized under these agreements is variable in nature based on the volume and type of materials sold. In addition, the amount of revenue recognized is based on commodity prices at the time of sale, which are unknown at contract inception.

Revenue Recognition

Our service obligations of a long-term nature, e.g., certain collection service contracts, are satisfied over time, and we recognize revenue based on the value provided to the customer during the period. The amount billed to the customer is based on variable elements such as the number of residential homes or businesses for which collection services are provided, the volume of material collected, treated, transported and disposed, and the nature of the material accepted. We do not disclose the value of unsatisfied performance obligations for these contracts as our right to consideration corresponds directly to the value provided to the customer for services completed to date and all future variable consideration is allocated to wholly unsatisfied performance obligations.

Additionally, certain elements of our long-term customer contracts are unknown upon entering into the contract, including the amount that will be billed in accordance with annual price escalation clauses, our fuel recovery fee program and commodity prices. The amount to be billed is often tied to changes in an underlying base index such as a consumer price index or a fuel or commodity index, and revenue can be recognized once the index is established for the period.

Deferred Revenue

The factors that impact the timing and amount of revenue recognized for each service line may vary based on the nature of the service performed. Generally, we recognize revenue at the time we perform a service. In the event that we bill for services in advance of performance, we recognize deferred revenue for the amount billed and subsequently recognize revenue at the time the service is provided. Depending on the nature of the contract, we may also generate revenue through the collection of fuel recovery fees and environmental fees which are designed to recover our internal costs of providing services to our customers.

Substantially all of the deferred revenue recognized as of December 31, 2023 was recognized as revenue during 2024 when the service was performed.

Deferred Contract Costs

We incur certain upfront payments to acquire customer contracts which are recognized as other assets in our consolidated balance sheet, and we amortize the asset over the respective contract life. In addition, we recognize sales commissions that represent an incremental cost of the contract as other assets in our consolidated balance sheet, and we amortize the asset over the average life of the customer relationship. As of December 31, 2024 and 2023, we recognized $82 million and $83 million,

respectively, of deferred contract costs and capitalized sales commissions. During the years ended December 31, 2024, 2023 and 2022, we amortized $15 million, $14 million and $13 million, respectively, of capitalized sales commissions to selling, general and administrative expenses, and $4 million, $5 million and $6 million, respectively, of other deferred contract costs as a reduction of revenue.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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+ Details

Consolidated Statements of Stockholders' Equity - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Treasury Stock	Accumulated Other Comprehensive Income, Net of Tax	Non-controlling Interests In Consolidated Subsidiary
Beginning balance (in shares) at Dec. 31, 2021		320
Treasury stock beginning balance (in shares) at Dec. 31, 2021					(2)
Balance at beginning of period at Dec. 31, 2021	$ 8,978	$ 3	$ 2,789	$ 6,475	$ (275)	$ (15)	$ 1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,488			1,488
Other comprehensive (income) loss, net of tax	3					3
Cash dividends declared	(603)			(603)
Issuances of common stock (in shares)		1
Issuances of common stock	(13)		13		$ (26)
Stock-based compensation	38		42	(4)
Purchase of common stock for treasury (in shares)					(2)
Purchase of common stock for treasury	(204)				$ (204)
Distributions paid	(1)		(1)
Ending balance (in shares) at Dec. 31, 2022		321
Treasury stock ending balance (in shares) at Dec. 31, 2022					(4)
Balance at end of period at Dec. 31, 2022	9,686	$ 3	2,843	7,356	$ (505)	(12)	1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,731			1,731
Other comprehensive (income) loss, net of tax	0
Cash dividends declared	(650)			(650)
Issuances of common stock	(1)		14		$ (15)
Stock-based compensation	41		44	(3)
Purchase of common stock for treasury (in shares)					(2)
Purchase of common stock for treasury	$ (264)				$ (264)
Ending balance (in shares) at Dec. 31, 2023		321
Treasury stock ending balance (in shares) at Dec. 31, 2023	(6)				(6)
Balance at end of period at Dec. 31, 2023	$ 10,543	$ 3	2,901	8,434	$ (784)	(12)	1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	2,044			2,043			1
Other comprehensive (income) loss, net of tax	(14)					(14)
Cash dividends declared	(699)			(699)
Issuances of common stock	(14)		16		$ (30)
Stock-based compensation	41		45	(4)
Purchase of common stock for treasury (in shares)					(3)
Purchase of common stock for treasury	(494)				$ (494)
Shares returned to unissued status (in shares)		8			8
Shares returned to unissued status	$ 0		(1,195)		$ 1,195
Ending balance (in shares) at Dec. 31, 2024		313
Treasury stock ending balance (in shares) at Dec. 31, 2024	(1)				(1)
Balance at end of period at Dec. 31, 2024	$ 11,407	$ 3	$ 1,767	$ 9,774	$ (113)	$ (26)	$ 2

Commitments and Contingencies (Unconditional Purchase Commitments) (Details) $ in Millions	Dec. 31, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2025	$ 202
2026	150
2027	100
2028	65
2029	48
Thereafter	342
Total	$ 907

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Management’s Estimates and Assumptions

In preparing our financial statements, we make numerous estimates and assumptions that affect the amounts reported in these financial statements and accompanying notes. We must make these estimates and assumptions because certain information we use is dependent on future events, cannot be calculated with a high degree of precision from data available or simply cannot be readily calculated based on generally accepted methodologies. In preparing our financial statements, the more significant and subjective areas that deal with the greatest amount of uncertainty relate to our accounting for our long-lived assets, including recoverability, landfill development costs and final capping, closure and post-closure costs; our liabilities for potential litigation, claims and assessments; our liabilities for environmental remediation, deferred taxes, uncertain tax positions and insurance reserves; and our estimates of the fair values of assets acquired and liabilities assumed in acquisitions. Each of these items is discussed in more detail elsewhere in these Notes to Consolidated Financial Statements. Our actual results may differ significantly from our estimates.

Cash and Cash Equivalents

We consider liquid investments with a maturity at the date of acquisition of three months or less to be cash equivalents.

We may have net book credit balances in our primary disbursement accounts at the end of a reporting period. We classify such credit balances as accounts payable in our consolidated balance sheets as checks presented for payment to these accounts are not payable by our banks under overdraft arrangements, and, therefore, do not represent short-term borrowings. As of December 31, 2024 and 2023, there were net book credit balances of $121 million and $148 million, respectively, in our primary disbursement accounts that were classified as accounts payable on our consolidated balance sheets.

Concentration of Credit Risk

Financial instruments that potentially subject us to concentrations of credit risk consist of cash and cash equivalents, trade accounts receivable and derivative instruments. We place our cash and cash equivalents with high quality financial institutions. Such balances may be in excess of FDIC insured limits. To manage the related credit exposure, we continually monitor the credit worthiness of the financial institutions where we have deposits. Concentrations of credit risk with respect to trade accounts receivable are limited due to the wide variety of customers and markets in which we provide services, as well as the dispersion of our operations across many geographic areas. We provide services to small-container, large-container, municipal and residential and environmental solutions customers primarily in the United States and Canada. We perform ongoing credit evaluations of our customers, but generally do not require collateral to support customer receivables. We establish an allowance

for doubtful accounts based on various factors including the credit risk of specific customers, age of receivables outstanding, historical trends, economic conditions and other information.

Accounts Receivable, Net

Accounts receivable represents receivables from customers for environmental services, including collection and processing of recyclable materials, collection, transfer and disposal of solid waste and environmental solutions. Our receivables are recorded when billed or when the related revenue is earned and represent claims against third parties that will be settled in cash. The carrying value of our receivables, net of the allowance for doubtful accounts and customer credits, represents the estimated net realizable value.

We establish an allowance for doubtful accounts based on various factors including the age of receivables outstanding, historical trends, economic conditions and other information. We also review outstanding balances on an account-specific basis based on the credit risk of the customer. We determined that all of our accounts receivable share similar risk characteristics. We monitor our credit exposure on an ongoing basis and assess whether assets in the pool continue to display similar risk characteristics.

The following table reflects the activity in our allowance for doubtful accounts for the years ended December 31:


	2024		2023		2022
Balance at beginning of year	$	83	$	52	$	39
Additions charged to expense	27		53		41
Accounts written-off	(36)		(22)		(28)
Balance at end of year	$	74	$	83	$	52

Restricted Cash and Marketable Securities

As of December 31, 2024 and 2023, we had $208 million and $164 million, respectively, of restricted cash and marketable securities, of which $149 million and $121 million, respectively, supports our insurance programs for workers' compensation, commercial general liability and commercial auto liability. Additionally, we obtain funds through the issuance of tax-exempt bonds for the purpose of financing qualifying expenditures at our landfills, transfer stations, collection and recycling centers. The funds are deposited directly into trust accounts by the bonding authorities at the time of issuance. As the use of these funds is contractually restricted, and we do not have the ability to use these funds for general operating purposes, they are classified as restricted cash and marketable securities in our consolidated balance sheets.

In the normal course of business, we may be required to provide financial assurance to governmental agencies and a variety of other entities in connection with, among other things, municipal residential collection contracts, closure or post-closure of landfills, environmental remediation, environmental permits and business licenses and permits as a financial guarantee of our performance. At several of our landfills, we satisfy financial assurance requirements by depositing cash into restricted trust funds or escrow accounts.

Property and Equipment

We record property and equipment at cost. Expenditures for major additions and improvements to facilities are capitalized, while maintenance and repairs are expensed as incurred. When property is retired or otherwise disposed, the related cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in the consolidated statements of income.

We revise the estimated useful lives of property and equipment acquired through business acquisitions to conform with our policies. We depreciate property and equipment over their estimated useful lives using the straight-line method. We assume no salvage value for our depreciable property and equipment. The estimated useful lives of our property and equipment are as follows:


Buildings and improvements			5 - 30 years
Vehicles			5 - 20 years
Landfill equipment			5 - 7 years
Other equipment			3 - 25 years
Furniture and fixtures			3 - 10 years

Landfill development costs also are included in property and equipment. Landfill development costs include direct costs incurred to obtain landfill permits and direct costs incurred to acquire, construct and develop sites, as well as final capping,

closure and post-closure assets. These costs are depleted or amortized based on consumed airspace. All indirect landfill development costs are expensed as incurred. For additional information, see Note 8, Landfill and Environmental Costs.

Capitalized Interest

We capitalize interest on all landfill cell construction and other construction or development projects. Interest is capitalized on qualified assets while they undergo activities to ready them for their intended use. Capitalization of interest ceases once an asset is placed into service or if construction activity is suspended for more than a brief period of time. Our interest capitalization rate is based on our weighted average cost of indebtedness. Interest capitalized was $11 million for the year ended December 31, 2024, $8 million for the year ended December 31, 2023 and $5 million for the year ended December 31, 2022.

Fair Value of Financial Instruments

Our financial instruments include cash and cash equivalents, restricted cash and marketable securities, interest rate hedges and other derivatives, long-term debt, contingent consideration arrangements and assets in our defined benefit pension plan. Accounting standards include disclosure requirements around fair values used for certain financial instruments and establish a fair value hierarchy. The hierarchy prioritizes valuation inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market. Each fair value measurement is reported in one of three levels:

•Level 1 – inputs are based upon unadjusted quoted prices for identical instruments traded in active markets.

•Level 2 – inputs are based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

•Level 3 – inputs are generally unobservable and typically reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability. The fair values are therefore determined using model-based techniques that include option pricing models, discounted cash flow models and similar techniques.

See Note 18, Financial Instruments, for fair value disclosures related to our financial instruments.

Investments Other Than Derivatives

Investments other than derivatives primarily include money market funds, common stock, mutual funds, United States government and agency securities, municipal and corporate bonds and foreign government bonds. In general, and where applicable, we use quoted prices in active markets for identical assets or liabilities to determine fair value. This pricing methodology applies to our Level 1 investments, such as money market funds, common stock and certain mutual funds. If quoted prices in active markets for identical assets or liabilities are not available to determine fair value, then we use quoted prices for similar assets and liabilities or inputs other than the quoted prices that are observable either directly or indirectly. These investments are included in Level 2 and consist primarily of corporate bonds, foreign government bonds, real estate investment trusts and certain agency securities.

Landfill and Environmental Costs

Life Cycle Accounting

We use life-cycle accounting and the units-of-consumption method to recognize certain landfill costs over the life of the site. In life cycle accounting, all current and future capitalized costs to acquire and construct a site are calculated, and charged to expense based on the consumption of cubic yards of available airspace.

Costs and airspace estimates are developed at least annually by engineers. We use these estimates to adjust the rates we use to deplete capitalized costs. Changes in these estimates primarily relate to changes in cost estimates, available airspace, inflation and applicable regulations. Changes in available airspace include, but are not limited to, changes due to the addition of airspace attributable to probable expansion areas, airspace consumed and changes in engineering estimates.

Probable Expansion Airspace

We classify landfill disposal capacity as either permitted (having received the final permit from the applicable regulatory agency) or as probable expansion airspace. Before airspace included in an expansion area is determined to be probable expansion airspace and, therefore, is included in our calculation of total available disposal capacity, all of the following criteria must be met:

•We own the land associated with the expansion airspace or control it pursuant to an option agreement;

•We are committed to supporting the expansion project financially and with appropriate resources;

•There are no identified fatal flaws or impediments associated with the project, including political impediments;

•Progress is being made on the project;

•The expansion is attainable within a reasonable time frame; and

•We believe it is likely the expansion permit will be received.

Upon meeting our expansion criteria, the rates used at each applicable landfill to expense costs to acquire, construct, cap, close and maintain a site during the post-closure period are adjusted to include both the probable expansion airspace and the additional costs to be capitalized or accrued associated with that expansion airspace.

We have identified three steps that landfills generally follow to obtain expansion permits. These steps are as follows:

•Obtaining approval from local authorities;

•Submitting a permit application to state authorities; and

•Obtaining permit approval from state authorities.

We continually monitor our progress toward obtaining permits for each of our sites with probable airspace. If we determine that a landfill expansion area no longer meets our criteria, the probable expansion airspace is removed from the landfill’s total available disposal capacity and the rates used at the landfill to deplete costs to acquire, construct, cap, close and maintain a site during the post-closure period are adjusted accordingly. In addition, any amounts capitalized for the probable expansion airspace are charged to expense in the period in which it is determined that the criteria are no longer met.

Capitalized Landfill Costs

Capitalized landfill costs include expenditures for land, permitting, cell construction and environmental structures. Capitalized permitting and cell construction costs are limited to direct costs relating to these activities, including legal, engineering and construction costs associated with excavation, natural and synthetic liners, construction of leachate collection systems, installation of methane gas collection and monitoring systems, installation of groundwater monitoring wells and other costs associated with the development of the site. Interest is capitalized on landfill construction projects while the assets are undergoing activities to ready them for their intended use. Capitalized landfill costs also include final capping, closure and post-closure assets and are depleted as airspace is consumed using the units-of-consumption method.

Costs related to acquiring land, excluding the estimated residual value of unpermitted, non-buffer land, and costs related to permitting and cell construction are depleted as airspace is consumed using the units-of-consumption method.

Capitalized landfill costs also may include an allocation of purchase price paid for landfills. For landfills purchased as part of a group of assets, the purchase price assigned to the landfill is determined based on the estimated fair value of the landfill. If the landfill meets our expansion criteria, the purchase price is further allocated between permitted airspace and expansion airspace based on the respective ratios to total available airspace. Landfill purchase price is depleted using the units-of-consumption method over the total available airspace, including probable expansion airspace, where appropriate.

Final Capping, Closure and Post-Closure Costs

Final capping

We have future obligations for final capping, closure and post-closure costs with respect to the landfills we own or operate as set forth in applicable landfill permits. The permit requirements are based on the Subtitle C and Subtitle D regulations of the Resource Conservation and Recovery Act, as implemented and applied on a state-by-state basis. We define final capping as activities required to permanently cover a portion of a landfill that has been completely filled with waste. Final capping typically includes installing flexible membrane and geosynthetic clay liners, drainage and compact soil layers and topsoil and is constructed over an area of the landfill where total available disposal capacity has been consumed and waste disposal operations have ceased. These final capping activities occur in phases as needed throughout the operating life of a landfill as specific areas are filled to capacity and the final elevation for that specific area is reached in accordance with the provisions of the operating permit. We consider final capping events to be discrete activities that are recognized as asset retirement obligations separately from other closure and post-closure obligations. As a result, we use a separate rate per ton for recognizing the principal amount of the liability and related asset associated with each capping event. We amortize the asset recorded pursuant to this approach as waste volume related to the capacity covered by the capping event is placed into the landfill based on the consumption of cubic yards of available airspace.

Closure and post-closure

Closure and post-closure activities occur after the entire landfill ceases to accept waste and closes. These activities involve methane gas control, leachate management and groundwater monitoring, surface water monitoring and control and other operational and maintenance activities that occur after the site ceases to accept waste. Obligations associated with monitoring and controlling methane gas migration and emissions are set forth in applicable landfill permits and these requirements are based on the provisions of the Clean Air Act. The post-closure period generally runs for 30 years after final site closure for municipal solid waste landfills and a shorter period for construction and demolition landfills and inert landfills. We recognize asset retirement obligations and the related amortization expense for closure and post-closure (excluding obligations for final capping) using the units-of-consumption method over the total remaining disposal capacity of the landfill, including probable expansion airspace, where appropriate.

Estimated future expenditures

Estimates of future expenditures for final capping, closure and post-closure are developed at least annually by engineers. Management reviews these estimates and our operating and accounting personnel use them to adjust the rates used to capitalize and amortize these costs. These estimates involve projections of costs that will be incurred during the remaining life of the landfill for final capping activities, after the landfill ceases operations and during the legally required post-closure monitoring period. As of December 31, 2024, we had 125 closed landfills.

Fair value measurements

In general, we engage third parties to perform most of our final capping, closure and post-closure activities. Accordingly, the fair value of these activities is based on quoted and actual prices paid for similar work. We also perform some of our final capping, closure and post-closure activities using internal resources. Where we expect internal resources to be used to fulfill an asset retirement obligation, we add a profit margin to the estimated cost of such services to better reflect their fair value. If we perform these services internally, the added profit margin is recognized as a component of operating income in the period the obligation is settled.

Our estimates of costs to discharge asset retirement obligations for landfills are developed in today’s dollars. These costs are inflated each year to reflect a normal escalation of prices up to the year they are expected to be paid. Our inflation rate was 2% for the year ended December 31, 2024, which was primarily based on the twenty-year historical moving average increase of the United States Core Consumer Price Index. Our inflation rate was 2% for each of the years ended December 31, 2023 and 2022, which was primarily based on the ten-year historical moving average increase of the United States Consumer Price Index. These estimated costs are then discounted to their present values using a credit-adjusted, risk-free interest rate.

Changes in assets retirement obligations

A liability for an asset retirement obligation is recognized in the period in which it is incurred and is initially measured at fair value. The offset to the liability is capitalized as part of the carrying amount of the related long-lived asset. Changes in the liabilities due to revisions to estimated future cash flows are recognized by increasing or decreasing the liabilities with the offsets adjusting the carrying amounts of the related long-lived assets, and may also require immediate adjustments to amortization expense in the consolidated statements of income. Upward revisions in the amount of undiscounted estimated cash flows used to record a liability are discounted using the credit-adjusted, risk-free interest rate in effect at the time of the change. Downward revisions in the amount of undiscounted estimated cash flows used to record a liability are discounted using the credit-adjusted, risk-free rate that existed when the original liability was recognized.

Changes in asset retirement obligations due to the passage of time are measured by recognizing accretion expense in a manner that results in a constant effective interest rate being applied to the average carrying amount of the liability. The effective interest rate used to calculate accretion expense is our credit-adjusted, risk-free interest rate in effect at the time the liabilities were recorded.

We review our calculations with respect to landfill asset retirement obligations at least annually. If there is a significant change in the facts and circumstances related to a landfill during the year, we will review our calculations for the landfill as soon as practical after the change has occurred.

Landfill operating expenses

Costs associated with daily maintenance activities and environmental compliance during the operating life of the landfill are expensed as incurred. These costs include, among other things, leachate treatment and disposal, methane gas and groundwater monitoring and systems maintenance, interim cap maintenance, costs associated with the application of daily cover materials and the legal and administrative costs of ongoing environmental compliance.

Environmental Liabilities

We are subject to an array of laws and regulations relating to the protection of the environment, and we remediate sites in the ordinary course of our business. Under current laws and regulations, we may be responsible for environmental remediation at sites that we either own or operate, including sites that we have acquired, or sites where we have (or a company that we have acquired has) delivered waste. Our environmental remediation liabilities primarily include costs associated with remediating groundwater, surface water and soil contamination, as well as controlling and containing methane gas migration and the legal costs related to these remediation efforts. To estimate our ultimate liability at these sites, we evaluate several factors, including the nature and extent of contamination at each identified site, the required remediation methods, timing of expenditures, the apportionment of responsibility among the potentially responsible parties and the financial viability of those parties. We accrue for costs associated with environmental remediation obligations when such costs are probable and reasonably estimable in accordance with accounting for loss contingencies. Changes in our liabilities are recognized currently in earnings in the period in which the adjustment is known. Adjustments to estimates are reasonably possible in the near term and may result in changes to recorded amounts. With the exception of those obligations assumed in certain business combinations, environmental obligations are recorded on an undiscounted basis. Adjustments arising from changes in amounts and timing of estimated costs and settlements may result in increases or decreases in these obligations and are calculated on a discounted basis as they were initially estimated on a discounted basis. These adjustments are charged to operating income when they are known. We perform a comprehensive review of our environmental obligations annually and also review changes in facts and circumstances associated with these obligations at least quarterly and update our estimates of the likelihood of and future expenditures for remediation as necessary. We have not reduced the liabilities we have recorded for recoveries from other potentially responsible parties or insurance companies.

Business Combinations

We acquire businesses in the environmental services industry as part of our growth strategy. Businesses are included in the consolidated financial statements from the date of acquisition.

We recognize, separately from goodwill, the identifiable assets acquired and liabilities assumed at their estimated acquisition-date fair values. We measure and recognize goodwill as of the acquisition date as the excess of: (1) the aggregate of the fair value of consideration transferred, the fair value of any non-controlling interest in the acquiree (if any) and the acquisition date fair value of our previously held equity interest in the acquiree (if any), over (2) the fair value of assets acquired and liabilities assumed. If information about facts and circumstances existing as of the acquisition date is incomplete by the end of the reporting period in which a business combination occurs, we report provisional amounts for the items for which the accounting is incomplete. The measurement or allocation period ends once we receive the information we are seeking; however, this period will generally not exceed one year from the acquisition date. Any material adjustments recognized during the measurement period will be reflected retrospectively in the consolidated financial statements of the subsequent period. We recognize third-party transaction-related costs as expense in the period in which they are incurred.

Goodwill and Other Intangible Assets

We evaluate goodwill for impairment annually as of October 1st, or when an indicator of impairment exists, at the reporting unit level. Our reporting units are our three field groups: Group 1, Group 2 and Group 3.

We may use both qualitative and quantitative approaches when testing goodwill for impairment. If, after assessing qualitative factors, we determine it is more likely than not that a reporting unit's goodwill is impaired, then we perform a quantitative test for that reporting unit. The quantitative impairment test for goodwill encompasses calculating a fair value of goodwill and comparing the fair value to its carrying value. If the carrying value exceeds the fair value, impairment is recognized for the difference.

As of October 1, 2024, we performed a qualitative assessment to evaluate circumstances and events impacting our reporting units to determine the likelihood of goodwill impairment. Examples of such events or circumstances include: (1) a significant adverse change in legal factors or in the business climate; (2) an adverse action or assessment by a regulator; (3) a more likely than not expectation that a reporting unit or a significant portion thereof will be sold; (4) continued or sustained losses at a reporting unit; (5) a significant decline in our market capitalization as compared to our book value; or (6) we conclude that we may not recover a significant asset group within the reporting unit. We determined it was more likely than not that the fair values of our reporting units exceeded their carrying amounts. No impairment losses were recorded for goodwill during the years ended December 31, 2024, 2023 or 2022.

Other intangible assets include values assigned to customer relationships, non-compete agreements and trade names and are amortized generally on a straight-line basis over periods ranging from 1 to 15 years.

Asset Impairments

We continually consider whether events or changes in circumstances have occurred that may warrant revision of the estimated useful lives of our long-lived assets (other than goodwill) or whether the remaining balances of those assets should be evaluated for possible impairment. Long-lived assets include, for example, capitalized landfill costs, other property and equipment and identifiable intangible assets.

Events or changes in circumstances that may indicate that an asset may be impaired include the following:

•A significant decrease in the market price of an asset or asset group;

•A significant adverse change in the extent or manner in which an asset or asset group is being used or in its physical condition;

•A significant adverse change in legal factors or in the business climate that could affect the value of an asset or asset group, including an adverse action or assessment by a regulator;

•An accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of a long-lived asset;

•A current period operating or cash flow loss combined with a history of operating or cash flow losses or a projection or forecast that demonstrates continuing losses associated with the use of a long-lived asset or asset group;

•A current expectation that, more likely than not, a long-lived asset or asset group will be sold or otherwise disposed of significantly before the end of its previously estimated useful life; or

•An impairment of goodwill at a reporting unit.

There are certain indicators listed above that require judgment and understanding of the environmental services industry when applied to landfill development or expansion. For example, a regulator may initially deny a landfill expansion permit application though the expansion permit is ultimately granted. In addition, management may periodically divert waste from one landfill to another to conserve remaining permitted landfill airspace. Therefore, certain events could occur in the ordinary course of business and not necessarily be considered indicators of impairment due to the unique nature of the environmental services industry.

If indicators of impairment exist, the asset or asset group is reviewed to determine whether its recoverability is impaired. We assess the recoverability of the asset or asset group by comparing its carrying value to an estimate (or estimates) of its undiscounted future cash flows over its remaining life. If the estimated undiscounted cash flows are not sufficient to recover the carrying value of the asset or asset group, we measure an impairment loss as the amount by which the carrying amount of the asset exceeds its fair value. The loss is recorded in the consolidated statements of income in the period in which such impairment is identified. Estimating future cash flows requires significant judgment, and our projections of future cash flows and remaining useful lives may vary materially from actual results. No impairment losses were recorded for long-lived assets during the years ended December 31, 2024, 2023 or 2022.

Insurance Reserves

Our insurance programs for workers' compensation, commercial general and auto liability, environmental and remediation liability and employee-related health care benefits are subject to high deductible insurance policies. Accruals for insurance reserves are based on claims filed and estimates of claims incurred but not reported. We consider our past claims experience, including both frequency and settlement amount of claims, in determining these estimates. It is possible that recorded reserves may not be adequate to fund the future payment of claims. Adjustments, if any, to estimates recorded resulting from ultimate claim payments will be reflected in the consolidated statements of income in the periods in which such adjustments are known. In general, our insurance reserves are recorded on an undiscounted basis; however, the insurance liabilities we assumed in business combinations are recorded at estimated fair value, and therefore have been discounted to present value based on our estimate of the timing of the related cash flows.

Contingent Liabilities

We are subject to various legal proceedings, claims and regulatory matters, the outcomes of which are subject to significant uncertainty. In general, we determine whether to disclose or accrue for loss contingencies based on an assessment of whether the risk of loss is remote, reasonably possible or probable, and whether it can be reasonably estimated. We assess our potential liability relating to litigation and regulatory matters based on information available to us. Management develops its assessment based on an analysis of possible outcomes under various strategies. We accrue for loss contingencies when such amounts are probable and reasonably estimable. If a contingent liability is only reasonably possible, we disclose the potential range of the

loss, if estimable. Contingent liabilities recorded in purchase accounting are recorded at their fair values. These fair values may be different from the values we would have otherwise recorded, had the contingent liability not been assumed as part of an acquisition of a business.

Accumulated Other Comprehensive Income

Accumulated other comprehensive income is a component of stockholders’ equity and includes the amortization of our settled interest rate locks, certain adjustments to liabilities associated with our employee defined benefit pension plan liabilities, net of tax, and foreign currency translation adjustments.

Revenue Recognition

We generally provide services under contracts with municipalities or individual customers. Municipal and small-container

contracts are generally long-term and often have renewal options. Environmental solutions revenue may be billed in advance of the service being performed, such as the treatment or disposal of the waste. Advance billings are recorded as deferred revenue, and revenue is recognized over the period services are provided.

We recognize revenue, net of tax, when control is transferred to the customer, generally at the time we provide a service. Revenue is measured as the amount of consideration we expect to receive in exchange for providing a service. We make payments to certain of our customers, including payments to our municipal customers or commodity rebates to customers in our recycling business, which reduce the amount of revenue we recognize.

Income Taxes

We account for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, we record deferred income taxes to reflect the effects of temporary differences between the carrying amounts of assets and liabilities and their tax bases using enacted tax rates that we expect to be in effect when the taxes are actually paid or recovered. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date.

We record net deferred tax assets to the extent we believe these assets will more likely than not be realized. In making these determinations, we consider all available positive and negative evidence, including scheduled reversals of deferred tax liabilities, tax planning strategies, projected future taxable income and recent financial operating results. The weight given to the positive and negative evidence is commensurate with the extent such evidence can be objectively verified. If we determine that we would be able to realize a deferred income tax asset in the future in excess of its net recorded amount, we would make an adjustment to the valuation allowance, which would reduce the provision for income taxes.

We record uncertain tax positions in accordance with ASC 740. A tax benefit from an uncertain tax position may be recognized when it is more likely than not that the position will be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits. Income tax positions must meet a more-likely-than-not recognition threshold at the effective date to be recognized.

We recognize interest and penalties related to uncertain tax positions in the provision for income taxes in the accompanying consolidated statements of income. Accrued interest and penalties are included in other accrued liabilities, deferred income taxes and other long-term tax liabilities in the consolidated balance sheets.

We use the flow-through method to account for investment tax credits earned on eligible development expenditures. Under this method, the investment tax credits are recognized as a reduction to income tax expense in the year they are earned.

Share Repurchases

Share repurchases under our share repurchase authorization may be made through open market purchases or privately negotiated transactions at the current market prices. From time-to-time, we return treasury shares acquired through share repurchases to the status of authorized but unissued. Our accounting policy is to deduct the par value from common stock and to reflect any excess of cost over par value as a deduction from additional paid-in capital.

Leases

We lease property and equipment in the ordinary course of business under various lease agreements. The most significant lease obligations are for real property and equipment specific to our industry, including property operated as a landfill or transfer station and operating equipment. Our leases have varying terms. Some may include renewal or purchase options, escalation clauses, restrictions, penalties or other obligations that we consider in determining minimum lease payments. Our lease terms include options to renew the lease when it is reasonably certain that we will exercise the option.

Certain leases require payments that are variable in nature based on volume measurements, e.g. a fixed rate per ton at our landfills. In addition, certain rental payments are adjusted annually based on changes in an underlying base index such as a consumer price index. Variable lease payments are recognized in our consolidated statements of income in the period incurred. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. We generally account for lease components separately from non-lease components.

Leases are classified as either operating leases or finance leases, as appropriate. Leases with an initial term of 12 months or less are not recorded on our consolidated balance sheet.

Operating Leases

Many of our leases are operating leases. Operating lease classification generally can be attributed to either (1) relatively low fixed minimum lease payments (including, for example, real property lease payments that are not fixed and vary based on the volume of material we receive or process), or (2) minimum lease terms that are shorter than the asset's economic useful life. We expect that, in the ordinary course of business, our operating leases will be renewed, replaced by other leases, or replaced with capital expenditures. We recognize rent expense for these leases on a straight-line basis over the lease term.

We recognize a right-of-use liability and right-of-use asset for leases classified as operating leases in our consolidated balance sheet upon lease commencement. The right-of-use liability represents the present value of the remaining lease payments. An implicit rate is often not readily available for these leases. As such, we use our incremental borrowing rate at the commencement date to determine the present value of the lease payments. Our incremental borrowing rate represents the rate of interest that we would have to pay to borrow on a collateralized basis over a similar term in a similar economic environment. In addition, we recognize a corresponding right-of-use asset, which represents our right to use an underlying asset for the lease term. The right-of-use asset is adjusted for certain favorable or unfavorable leases recognized through acquisition, prepaid or accrued rent, asset impairments and lease incentives, including but not limited to cash incentives, rent abatement or leasehold improvements paid by the lessor.

Finance Leases

We capitalize assets acquired under finance leases at lease commencement and amortize them to depreciation expense over the lesser of the useful life of the asset or the lease term on either a straight-line or a units-of-consumption basis, depending on the asset leased. We record the present value of the related lease payments as a debt obligation. Our finance lease liabilities relate primarily to real property, including certain long-term landfill operating agreements that require minimum lease payments with offsetting finance lease assets recorded as part of the landfill development costs.

Related Party Transactions

It is our policy that transactions with related parties must be on terms that, on the whole, are no less favorable than those that would be available from unaffiliated parties.

New Accounting Pronouncements

Accounting Standards Adopted

Improvements to Reportable Segment Disclosures

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (ASU 2023-07). ASU 2023-07 amends the reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The Company adopted ASU 2023-07 in this Annual Report on Form 10-K and will adopt the interim disclosures in the first quarter of 2025. ASU 2023-07 was adopted retrospectively to all periods presented in the financial statements. The adoption of this standard did not have a material impact on our consolidated financial statements. See Note 15, Segment Reporting, for additional information and detailed disclosures prepared in accordance with ASU 2023-07.

Accounting Standards Updates Issued but not yet Adopted as of December 31, 2024

Disaggregation of Income Statement Expenses

In November 2024, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update No. 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (ASU 2024-03). ASU 2024-03 requires an entity to disclose the amount of purchases of inventory, employee compensation, depreciation, and intangible asset amortization included in each relevant expense caption. It also requires an entity to include certain amounts that are already required to be disclosed under GAAP in the same disclosure. Additionally, it requires an entity to disclose a qualitative description of the amounts remaining in relevant

expense captions that are not separately disaggregated quantitatively, and to disclose the total amount of selling expenses and, in annual reporting periods, an entity’s definition of selling expenses. The amendments in ASU 2024-03 are effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027, with early adoption permitted. An entity may apply the amendments prospectively for reporting periods after the effective date or retrospectively to any or all prior periods presented in the financial statements. The Company is currently evaluating the impact of the rules on its future consolidated financial statements.

Climate-Related Disclosures

In March 2024, the SEC adopted Final Rule 33-11275 and 34-99678 - The Enhancement and Standardization of Climate-Related Disclosures for Investors. The rules require registrants to provide standardized disclosures related to material climate-related risks, governance and risk management strategies, and the financial impact of severe weather events and material Scope 1 and 2 greenhouse gas emissions. The rules require implementation in phases between 2025 and 2033. In April 2024, the SEC announced that it would voluntarily stay these rules pending judicial review. The Company is currently evaluating the impact of the rules on its future consolidated financial statements.

Improvements to Income Tax Disclosures

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (ASU 2023-09). ASU 2023-09 requires entities to provide additional information in the rate reconciliation and additional disclosures about income taxes paid. The amendments in this update are effective for fiscal years beginning after December 15, 2024. We are currently assessing the effect this guidance may have on our consolidated financial statements.

Codification Amendments in Response to the SEC's Disclosure Update and Simplification Initiative

In October 2023, the FASB issued ASU 2023-06 to modify the disclosure or presentation requirements of a variety of topics, which will allow users to more easily compare entities subject to the SEC's existing disclosures with those entities that were not previously subject to the SEC's requirements, and to align the requirements in the FASB accounting standard codification with the SEC's regulations. The effective date for each topic's amendment will be the date on which the SEC's removal of the topic's related disclosure from Regulation S-X or Regulation S-K becomes effective, with early adoption prohibited. The Company is currently evaluating the amendments and the impact on its future consolidated financial statements.

Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of restricted stock unit and restricted stock activity

The following table summarizes restricted stock unit (RSU) activity for the years ended December 31, 2024, 2023 and 2022:


	Number of RSUs (in thousands)	Weighted-Average Grant Date Fair Value per Share		Weighted-Average Remaining Contractual Term (years)	Aggregate Intrinsic Value (in millions)
Unissued as of December 31, 2021	1,091	$	77.19
Granted	259	$	122.54
Vested and issued	(388)	$	74.34
Forfeited	(48)	$	110.92
Unissued as of December 31, 2022	914	$	85.43
Granted	250	$	133.03
Vested and issued	(208)	$	95.24
Forfeited	(41)	$	117.54
Unissued as of December 31, 2023	915	$	93.35
Granted	184	$	184.28
Vested and issued	(228)	$	102.81
Forfeited	(30)	$	139.24
Unissued as of December 31, 2024	841	$	107.81	0.7	$	169.20
Vested and unissued as of December 31, 2024	415	$	70.32

Schedule of performance shares award outstanding activity

The following table summarizes performance stock unit (PSU) activity for the years ended December 31, 2024, 2023 and 2022:


	Number of PSUs (in thousands)	Weighted Average Grant Date Fair Value per Share
Outstanding as of December 31, 2021	857	$	84.79
Granted	157	$	124.29
Vested and issued	(234)	$	76.24
Forfeited	(24)	$	109.62
Outstanding as of December 31, 2022	756	$	95.19
Granted	200	$	138.03
Vested and issued	(227)	$	100.06
Forfeited	(41)	$	123.30
Outstanding as of December 31, 2023	688	$	101.48
Granted	281	$	142.50
Vested and issued	(420)	$	90.54
Forfeited	(25)	$	136.27
Outstanding and Exercisable as of December 31, 2024	524	$	125.70

Schedule of individually significant multiemployer pension plans

Republic’s participation in individually significant multiemployer pension plans for the year ended December 31, 2024 is outlined in the table below. Only with respect to multiemployer pension plans, we considered contributions in excess of $10 million in any period disclosed to be individually significant. The most recent PPA zone status available in 2024 and 2023 is for the plans’ year ended September 30, or December 31, 2023 and 2022, respectively. The status is based on information that Republic received from the plans and is certified by the plans’ actuary. Among other factors, plans in the critical red zone are generally less than 65% funded, plans in the endangered yellow zone are less than 80% funded and plans in the safe green zone are at least 80% funded. Plans in the critical and declining zone are classified as critical and projected to be insolvent in the current year or any of the 14 following plan years. The last column lists the expiration dates of the CBAs to which the plans are subject.


		Pension Protection Act Zone Status		Funding Improvement or Rehabilitation Plan Status Pending /	Republic Contributions to Plan						Surcharge	Expiration Dates
Legal Plan Name	EIN	2024	2023	Implemented	2024		2023		2022		Imposed	of CBAs
Western Conference of Teamsters Pension Plan	91-6145047	Safe	Safe	No	$	75	$	70	$	61	No	Various dates through 9/30/2029
All other plans	N/A	N/A	N/A	N/A	29		29		25		N/A
Total					$	104	$	99	$	86

Property and Equipment, Net (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 25,544	$ 23,847
Less: accumulated depreciation, depletion and amortization	(13,667)	(12,496)
Property and equipment, net	11,877	11,351
Land
Property, Plant and Equipment [Line Items]
Property and equipment, gross	897	878
Landfill development costs
Property, Plant and Equipment [Line Items]
Property and equipment, gross	10,518	9,911
Less: accumulated depreciation, depletion and amortization	(6,031)	(5,516)
Vehicles and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	10,998	10,232
Less: accumulated depreciation, depletion and amortization	(6,692)	(6,148)
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	2,119	1,922
Less: accumulated depreciation, depletion and amortization	(944)	(832)
Construction-in-progress – landfill
Property, Plant and Equipment [Line Items]
Property and equipment, gross	437	350
Construction-in-progress – other
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 575	$ 554

Employee Benefit Plans (Deferred Compensation Plan) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]
Deferred compensation plan, employee base salary deferral, maximum percentage (up to)	80.00%
Deferred compensation plan, employee bonus deferral, maximum percentage (up to)	100.00%
Deferred compensation plan, maximum contractual term	15 years
Deferred compensation plan	$ 125	$ 113
Deferred compensation plan liability	$ 120	$ 115
Employer Matching, Option 1
Defined Benefit Plan Disclosure [Line Items]
Deferred compensation plan, employer matching contribution based on participant's compensation over established 401K limits	2.00%
Employer Matching, Option 2
Defined Benefit Plan Disclosure [Line Items]
Deferred compensation plan, employer matching contribution based on percent of amount deferred	50.00%

Employee Benefit Plans (Restricted Stock Units) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) installment shares	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($) shares
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares awarded (in shares)	184,000	250,000	259,000
Number of vesting installments \| installment	4
Compensation expense \| $	$ 25	$ 24	$ 23
Total unrecognized compensation expense related to outstanding restricted stock units and restricted shares \| $	$ 41
Weighted average period for compensation expense recognition	2 years
Restricted Stock Units (RSUs) \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period of increments vested	3 years
Restricted Stock Units (RSUs) \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period of increments vested	4 years
Restricted Stock Unit Earned As Dividend Equivalents
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares awarded (in shares)	8,868	12,751	13,969
Director \| Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares awarded (in shares)	16,540	20,324	18,689
Executives and Employees \| Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares awarded (in shares)	158,789	216,610	226,108

Summary of Significant Accounting Policies (Property and Equipment) (Details)	Dec. 31, 2024
Buildings and improvements \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years
Buildings and improvements \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	30 years
Vehicles \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years
Vehicles \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	20 years
Landfill equipment \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years
Landfill equipment \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	7 years
Other equipment \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Other equipment \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	25 years
Furniture and fixtures \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Furniture and fixtures \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	10 years

Commitments and Contingencies

12 Months Ended

Dec. 31, 2024

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

COMMITMENTS AND CONTINGENCIES

Legal Proceedings

We are subject to extensive and evolving laws and regulations and have implemented safeguards to respond to regulatory requirements. In the normal course of our business, we become involved in legal proceedings. Some may result in fines, penalties or judgments against us, or settlements, which may impact earnings and cash flows for a particular period. Although we cannot predict the ultimate outcome of any legal matter with certainty, we do not believe the outcome of any of our pending legal proceedings will have a material adverse impact on our consolidated financial position, results of operations or cash flows.

As used herein, the term legal proceedings refers to litigation and similar claims against us and our subsidiaries, excluding: (1) ordinary course accidents, general commercial liability and workers' compensation claims, which are covered by insurance programs, subject to customary deductibles, and which, together with insured employee health care costs, are discussed in Note 7, Other Liabilities; and (2) environmental remediation liabilities, which are discussed in Note 8, Landfill and Environmental Costs.

We accrue for legal proceedings when losses become probable and reasonably estimable. We have recorded an aggregate accrual of approximately $13 million relating to our outstanding legal proceedings as of December 31, 2024. As of the end of each applicable reporting period, we review each of our legal proceedings and, where it is probable that a liability has been

incurred, we accrue for all probable and reasonably estimable losses. Where we can reasonably estimate a range of losses we may incur regarding such a matter, we record an accrual for the amount within the range that constitutes our best estimate. If we can reasonably estimate a range but no amount within the range appears to be a better estimate than any other, we use the amount that is the low end of such range. If we had used the high ends of such ranges, our aggregate potential liability would be approximately $6 million higher than the amount recorded as of December 31, 2024.

Multiemployer Pension Plans

We participate in multiemployer pension plans that generally provide retirement benefits to participants of contributing employers. We do not administer these plans.

Under current law regarding multiemployer pension plans, our withdrawal (which we consider from time to time) or the mass withdrawal from any under-funded multiemployer pension plan (each, a Withdrawal Event) could require us to make payments to the plan for our proportionate share of the plan’s unfunded vested liabilities. During the course of operating our business, we incur Withdrawal Events regarding certain of the multiemployer pension plans in which we participate. We accrue for such events when losses become probable and reasonably estimable.

Unconditional Purchase Commitments

Royalties

We have entered into agreements to pay royalties to prior landowners or host communities, based on, among other things, revenue received and waste tonnage disposed at specified landfills. These royalties are generally payable quarterly and amounts incurred, but not paid, are accrued in our consolidated balance sheets. Royalties are accrued as revenue is received or tonnage is disposed of, as applicable, in the landfills.

Disposal Agreements

We have several agreements that require us to dispose of a minimum number of tons at third-party disposal facilities. Under these put-or-pay agreements, we must pay for agreed-upon minimum volumes regardless of the actual number of tons placed at the facilities.

Our unconditional purchase commitments have varying expiration dates, with some extending through the remaining life of the respective landfill. Future minimum payments under unconditional purchase commitments, consisting primarily of (1) disposal related agreements, which include fixed or minimum royalty payments, host agreements and take-or-pay and put-or-pay agreements, and (2) other obligations including committed capital expenditures and consulting service agreements, as of December 31, 2024 are as follows:


2025	$	202
2026	150
2027	100
2028	65
2029	48
Thereafter	342
	$	907

Cash and Cash Equivalents and Restricted Cash and Marketable Securities

Restricted cash and restricted cash equivalents are included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statements of cash flows. Beginning-of-period and end-of-period cash, cash equivalents, restricted cash and restricted cash equivalents as presented in the statements of cash flows are reconciled as follows:


	December 31, 2024		December 31, 2023		December 31, 2022
Cash and cash equivalents	$	74	$	140	$	143
Restricted cash and marketable securities	208		164		128
Less: restricted marketable securities	(79)		(76)		(57)
Cash, cash equivalents, restricted cash and restricted cash equivalents	$	203	$	228	$	214

Our restricted cash and marketable securities includes amounts pledged to regulatory agencies and governmental entities as financial guarantees of our performance under certain collection, landfill and transfer station contracts and permits and relating to our final capping, closure and post-closure obligations at our landfills and restricted cash and marketable securities related to our insurance obligations.

The following table summarizes our restricted cash and marketable securities as of December 31:


	2024		2023


Capping, closure and post-closure obligations	$	59	$	43
Insurance	149		121

Total restricted cash and marketable securities	$	208	$	164

We must provide financial assurance to governmental agencies and a variety of other entities under applicable environmental regulations relating to our landfill operations for capping, closure and post-closure costs and our performance under certain collection, landfill and transfer station contracts. We satisfy our financial assurance requirements by providing surety bonds, letters of credit, insurance policies or trust deposits. The amount of the financial assurance requirements for capping, closure and post-closure costs is determined by applicable state environmental regulations, which vary by state. The financial assurance requirements for capping, closure and post-closure costs can either be for costs associated with a portion of the landfill or the entire landfill. Generally, states will require a third-party engineering specialist to determine the estimated capping, closure and post-closure costs that are used to determine the required amount of financial assurance for a landfill. The amount of financial assurance required can, and generally will, differ from the obligation determined and recorded under U.S. GAAP. The amount of the financial assurance requirements related to contract performance varies by contract. Additionally, we are required to provide financial assurance for our insurance program and collateral for certain performance obligations.

We had the following financial instruments and collateral in place to secure our financial assurances as of December 31:


	2024		2023
Letters of credit	$	464	$	467
Surety bonds	$	5,045	$	4,677

We had $317 million and $337 million of letters of credit outstanding under our Credit Facility as of December 31, 2024 and 2023, respectively. Surety bonds subject to expiration will expire on various dates through 2032.

These financial instruments are issued in the normal course of business and are not classified as debt. Because we currently have no liability for this financial assurance, it is not reflected in our consolidated balance sheets. However, we have recorded capping, closure and post-closure obligations and insurance reserves as they are incurred.

We own a 19.9% interest in a company that, among other activities, issues financial surety bonds to secure capping, closure and post-closure obligations for companies operating in the environmental services industry. We account for this investment using an alternative measurement approach. There have been no identified events or changes in circumstances that may have a significant adverse effect on the recoverability of this investment. This investee company and the parent company of the investee had written surety bonds for us relating primarily to our landfill operations for capping, closure and post-closure, of which $1,812 million were outstanding as of December 31, 2024. Our reimbursement obligations under these bonds are secured by an indemnity agreement with the investee and a surety bond.

Off-Balance Sheet Arrangements

We have no off-balance sheet debt or similar obligations, other than short-term operating leases and financial assurances, which are not classified as debt. We have no transactions or obligations with related parties that are not disclosed, consolidated into or reflected in our reported financial position or results of operations. We have not guaranteed any third-party debt.

Guarantees

We enter into contracts in the normal course of business that include indemnification clauses. Indemnifications relating to known liabilities are recorded in the consolidated financial statements based on our best estimate of required future payments. Certain of these indemnifications relate to contingent events or occurrences, such as the imposition of additional taxes due to a change in the tax law or adverse interpretation of the tax law and indemnifications made in divestiture agreements where we indemnify the buyer for liabilities that relate to our activities prior to the divestiture and that may become known in the future. We do not believe that these contingent obligations will have a material effect on our consolidated financial position, results of operations or cash flows.

We have entered into agreements with property owners to guarantee the value of property that is adjacent to certain of our landfills. These agreements have varying terms. We do not believe that these contingent obligations will have a material effect on our consolidated financial position, results of operations or cash flows.

Other Matters

Our business activities are conducted in the context of a developing and changing statutory and regulatory framework. Governmental regulation of the environmental services industry requires us to obtain and retain numerous governmental permits to conduct various aspects of our operations. These permits are subject to revocation, modification or denial. The costs and other capital expenditures that may be required to obtain or retain the applicable permits or comply with applicable regulations could be significant. Any revocation, modification or denial of permits could have a material adverse effect on us.

Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of carrying amount and fair value of financial instruments

As of December 31, 2024 and 2023, our assets and liabilities that are measured at fair value on a recurring basis include the following:


	December 31, 2024
			Fair Value
	Carrying Amount		Total		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Money market mutual funds - restricted cash and marketable securities and other assets	$	62	$	62	$	62	$	—	$	—
Bonds and fixed income - restricted cash and marketable securities and other assets	90		90		—		90		—
Derivative and hedging assets - other assets, prepaid expenses and other current assets	55		55		—		55		—
Total assets	$	207	$	207	$	62	$	145	$	—
Liabilities:
Derivative and hedging liabilities - other accrued liabilities and other long-term liabilities	$	72	$	72	$	—	$	72	$	—

Contingent consideration - other accrued liabilities and other long-term liabilities	65		65		—		—		65
Total liabilities	$	137	$	137	$	—	$	72	$	65


	December 31, 2023
			Fair Value
	Carrying Amount		Total		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Money market mutual funds - restricted cash and marketable securities and other assets	$	43	$	43	$	43	$	—	$	—
Bonds - restricted cash and marketable securities and other assets	76		76		—		76		—
Derivative and hedging assets - other assets	78		78		—		78		—
Total assets	$	197	$	197	$	43	$	154	$	—
Liabilities:
Derivative and hedging liabilities - other accrued liabilities and other long-term liabilities	$	80	$	80	$	—	$	80	$	—
Contingent consideration - other accrued liabilities and other long-term liabilities	64		64		—		—		64
Total liabilities	$	144	$	144	$	—	$	80	$	64

Segment Reporting

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Segment Reporting

SEGMENT REPORTING

Our senior management evaluates, oversees and manages the financial performance of our operations through three field groups, referred to as Group 1, Group 2 and Group 3. Group 1 is our recycling and waste business operating primarily in geographic areas located in the western United States. Group 2 is our recycling and waste business operating primarily in geographic areas located in the southeastern and mid-western United States, the eastern seaboard of the United States, and Canada. Group 3 is our environmental solutions business operating in geographic areas located across the United States and Canada. These groups are presented below as our reportable segments, which each provide integrated environmental services, including but not limited to collection, transfer, recycling and disposal.

We generated $182 million, $170 million and $90 million of revenue in Canada for the years ended December 31, 2024, 2023 and 2022, respectively. As of December 31, 2024 and 2023, we had $129 million and $137 million, respectively, of long-lived assets in Canada. The remainder of our revenue and assets were related to our United States operations.

Our chief operating decision maker (CODM) is Jon Vander Ark, President and Chief Executive Officer of Republic Services, Inc. Adjusted EBITDA is the single financial measure our CODM uses to evaluate segment profitability and returns, which informs resource allocation. For all segments, the CODM uses adjusted EBITDA to evaluate income generated from segment assets (return on invested capital). The CODM considers budget-to-actual variances and year-over-year growth on a monthly basis to assess the performance of each segment. Cost of operations and selling, general and administrative are significant segment expenses used in the evaluation.

Summarized financial information concerning our reportable segments for the years ended December 31, 2024, 2023 and 2022 follows:


	Group 1		Group 2		Recycling & Waste Subtotal(1)		Group 3 (Environmental Solutions)		Corporate entities and other		Total
2024
Gross Revenue	$	8,332	$	7,891	$	16,223	$	1,864	$	331	$	18,418
Intercompany Revenue	(1,235)		(1,037)		(2,272)		(49)		(65)		(2,386)
Revenue Allocations	123		115		238		28		(266)		—
Net Revenue	$	7,220	$	6,969	$	14,189	$	1,843	$	—	$	16,032
Cost of Operations	4,129		4,079		8,208		1,142		—		9,350
SG&A	738		671		1,409		265		—		1,674
Other Segment Items	—		29		29		—		—		29
Adjusted EBITDA	$	2,353	$	2,190	$	4,543	$	436	$	—	$	4,979
Capital Expenditures	$	874	$	574	$	1,448	$	136	$	271	$	1,855
Total Assets	$	14,250	$	11,046	$	25,296	$	4,459	$	2,647	$	32,402


	Group 1		Group 2		Recycling & Waste Subtotal(1)		Group 3 (Environmental Solutions)		Corporate entities and other		Total
2023
Gross Revenue	$	7,769	$	7,566	$	15,335	$	1,701	$	243	$	17,279
Intercompany Revenue	(1,171)		(1,011)		(2,182)		(56)		(76)		(2,314)
Revenue Allocations	96		91		187		(20)		(167)		—
Net Revenue	$	6,694	$	6,646	$	13,340	$	1,625	$	—	$	14,965
Cost of Operations	3,878		4,033		7,911		1,032		—		8,943
SG&A	681		649		1,330		279		—		1,609
Other Segment Items	—		—		—		(34)		—		(34)
Adjusted EBITDA	$	2,135	$	1,964	$	4,099	$	348	$	—	$	4,447
Capital Expenditures	$	707	$	542	$	1,249	$	145	$	237	$	1,631
Total Assets	$	13,665	$	10,988	$	24,653	$	4,471	$	2,286	$	31,410


	Group 1		Group 2		Recycling & Waste Subtotal(1)		Group 3 (Environmental Solutions)		Corporate entities and other		Total
2022
Gross Revenue	$	7,107	$	7,029	$	14,136	$	1,262	$	247	$	15,645
Intercompany Revenue	(1,090)		(945)		(2,035)		(47)		(52)		(2,134)
Revenue Allocations	103		99		202		(7)		(195)		—
Net Revenue	$	6,120	$	6,183	$	12,303	$	1,208	$	—	$	13,511
Cost of Operations	3,541		3,846		7,387		818		—		8,205
SG&A	612		586		1,198		256		—		1,454
Other Segment Items	—		—		—		(77)		—		(77)
Adjusted EBITDA	$	1,967	$	1,751	$	3,718	$	211	$	—	$	3,929
Capital Expenditures	$	620	$	542	$	1,162	$	133	$	159	$	1,454
Total Assets	$	12,418	$	10,528	$	22,946	$	4,090	$	2,017	$	29,053

(1) The Recycling & Waste Subtotal represents the combined results of our Group 1 and Group 2 reportable segments.

Corporate functions include marketing, operations support, business development, legal, tax, treasury, information technology, risk management, human resources and other administrative functions. National Accounts revenue included in Corporate entities and other represents the portion of revenue generated from nationwide and regional contracts in markets outside our operating areas where the associated material handling is subcontracted to local operators. Revenue and overhead costs of Corporate entities and other are either specifically assigned or allocated on a rational and consistent basis among our reportable

segments to calculate adjusted EBITDA.

As presented in the tables above, adjusted EBITDA reflects certain adjustments for US Ecology, Inc., acquisition integration and deal costs, (income) losses from unconsolidated equity method investments, losses on extinguishment of debt, adjustments to withdrawal liabilities for a multiemployer pension fund, restructuring expenses, and gain on certain divestitures and impairments, net. This presentation is consistent with how our CODM reviews results of operations to make resource allocation decisions.

Intercompany revenue reflects transactions within and between segments that generally are made on a basis intended to reflect the market value of such services. Capital expenditures for Corporate entities and other primarily include vehicle inventory acquired but not yet assigned to operating locations and facilities.


	2024		2023		2022
Group 1 Adjusted EBITDA	$	2,353	$	2,135	$	1,967
Group 2 Adjusted EBITDA	2,190		1,964		1,751
Group 3 Adjusted EBITDA	436		348		211
Total Adjusted EBITDA	4,979		4,447		3,929
Other income (expense), net	(23)		(7)		2
Interest income	(9)		(6)		(3)
Interest expense	539		508		395
Depreciation, depletion and amortization	1,677		1,501		1,352
Accretion	107		98		89
Loss from unconsolidated equity method investments	255		94		166
Adjustment to withdrawal liability for multiemployer pension funds	—		5		(2)
Restructuring charges	29		33		27
Gain on certain divestitures and impairments, net	(30)		(4)		(6)
US Ecology, Inc. acquisition integration and deal costs	—		34		77

Loss on extinguishment of debt and other related costs	2		—		—
Income before income taxes	$	2,432	$	2,191	$	1,832

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

Revenue (Revenue by Service Line) (Details) $ in Millions	12 Months Ended
Revenue (Revenue by Service Line) (Details) $ in Millions	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Disaggregation of Revenue [Line Items]
Revenue	$ 16,032	$ 14,965	$ 13,511
Revenue as a percentage of total revenue	1.000	1.000	1.000
Transfer
Disaggregation of Revenue [Line Items]
Revenue	$ 805	$ 766	$ 725
Revenue as a percentage of total revenue	0.050	0.051	0.054
Landfill
Disaggregation of Revenue [Line Items]
Revenue	$ 1,741	$ 1,679	$ 1,550
Revenue as a percentage of total revenue	0.109	0.112	0.115
Environmental Solutions Service Line
Disaggregation of Revenue [Line Items]
Revenue	$ 1,843	$ 1,625	$ 1,208
Revenue as a percentage of total revenue	0.115	0.109	0.089
Recycling processing and commodity sales
Disaggregation of Revenue [Line Items]
Revenue	$ 409	$ 312	$ 359
Revenue as a percentage of total revenue	0.025	0.021	0.027
Other non-core
Disaggregation of Revenue [Line Items]
Revenue	$ 379	$ 330	$ 326
Revenue as a percentage of total revenue	0.024	0.022	0.024
Other
Disaggregation of Revenue [Line Items]
Revenue	$ 788	$ 642	$ 685
Revenue as a percentage of total revenue	0.049	0.043	0.051
Operating Segments \| Residential
Disaggregation of Revenue [Line Items]
Revenue	$ 2,939	$ 2,823	$ 2,642
Revenue as a percentage of total revenue	0.183	0.189	0.195
Operating Segments \| Small-container
Disaggregation of Revenue [Line Items]
Revenue	$ 4,820	$ 4,439	$ 3,946
Revenue as a percentage of total revenue	0.301	0.297	0.292
Operating Segments \| Large-container
Disaggregation of Revenue [Line Items]
Revenue	$ 3,024	$ 2,922	$ 2,701
Revenue as a percentage of total revenue	0.189	0.195	0.200
Operating Segments \| Other
Disaggregation of Revenue [Line Items]
Revenue	$ 72	$ 69	$ 54
Revenue as a percentage of total revenue	0.004	0.004	0.004
Operating Segments \| Collection Service Line
Disaggregation of Revenue [Line Items]
Revenue	$ 10,855	$ 10,253	$ 9,343
Revenue as a percentage of total revenue	0.677	0.685	0.691
Operating Segments \| Transfer
Disaggregation of Revenue [Line Items]
Revenue	$ 1,780	$ 1,699	$ 1,575
Operating Segments \| Landfill
Disaggregation of Revenue [Line Items]
Revenue	2,981	2,885	2,682
Operating Segments \| Environmental Solutions Service Line
Disaggregation of Revenue [Line Items]
Revenue	1,907	1,701	1,262
Intercompany Revenue \| Transfer
Disaggregation of Revenue [Line Items]
Revenue	(975)	(933)	(850)
Intercompany Revenue \| Landfill
Disaggregation of Revenue [Line Items]
Revenue	(1,240)	(1,206)	(1,132)
Intercompany Revenue \| Environmental Solutions Service Line
Disaggregation of Revenue [Line Items]
Revenue	$ (64)	$ (76)	$ (54)

Leases (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
Leases (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Non-cash lease expense	$ 46	$ 48

Income Taxes

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

The components of the provision for income taxes for the years ended December 31 follow:


	2024		2023		2022
Current:
Federal	$	207	$	281	$	72
State	120		109		82
Deferred:
Federal	55		72		164
State	32		29		17
Uncertain tax positions and interest and other	(26)		(31)		9
Provision for income taxes	$	388	$	460	$	344

The reconciliations of the statutory federal income tax rate to our effective tax rate for the years ended December 31 follow:


	2024		2023		2022
Federal statutory rate	21.0	%	21.0	%	21.0	%
State income taxes, net of federal benefit	4.8		4.4		4.6

Non-deductible expenses	0.8		1.2		1.1
Uncertain tax position taxes and interest	(0.3)		(0.8)		0.2
Investment tax credits	(9.9)		(4.0)		(7.6)

Other, net	(0.4)		(0.8)		(0.5)
Effective income tax rate	16.0	%	21.0	%	18.8	%

During 2024, we acquired non-controlling interests in limited liability companies established to own renewable energy assets that qualified for investment tax credits under Section 48 of the Internal Revenue Code. We account for these investments under the equity method of accounting utilizing the HLBV method and recognize our share of income or loss and other reductions in the value of our investment in loss from unconsolidated equity method investments within our consolidated statements of income. For further discussion regarding our equity method accounting, see Note 3, Business Acquisitions, Investments and Restructuring Charges. Our 2024 tax provision reflects a benefit of $222 million due to the tax credits related to these investments.

We also made qualified investments in renewable natural gas projects and commercial electric vehicles during 2024 which, due to tax credits, reduced our tax provision by approximately $18 million.

Our 2023 tax provision was reduced by $87 million related to the tax credits from our non-controlling interests in limited liability companies established to own renewable energy assets.

In addition, during 2023 we resolved IRS examinations for our 2014 to 2018 tax years, that in the aggregate, reduced our tax provision by approximately $21 million.

Our 2022 tax provision was reduced by $139 million related to the tax credits from our non-controlling interests in limited liability companies established to own renewable energy assets.

During 2022, the Inflation Reduction Act (IRA) was signed into law. We continue to evaluate the IRA and additional regulations as they are released by the U.S. Treasury.

With respect to various energy credits in the IRA, we expect to benefit in subsequent years for credits related to commercial electric vehicles, carbon capture and renewable natural gas. Additional benefits may be identified as subsequent guidance is released by the U.S. Treasury and/or additional climate technologies are identified or advanced in future years.

We made income tax payments (net of refunds) of $313 million, $343 million and $185 million for 2024, 2023, and 2022, respectively. Income taxes paid in 2024, 2023, and 2022 reflect benefits from tax credits from our continuing investments in qualified renewable energy projects.

The components of the net deferred income tax asset and liability as of December 31 follow:


	2024		2023
Deferred tax liabilities relating to:
Differences between book and tax basis of property and equipment	$	(1,258)	$	(1,229)
Difference between book and tax basis of intangible assets	(637)		(583)
Operating right-of-use lease assets	(57)		(59)
Basis difference due to redemption of partnership interests	(82)		(82)
Total deferred tax liabilities	$	(2,034)	$	(1,953)
Deferred tax assets relating to:
Environmental reserves	$	218	$	236
Accruals not currently deductible	105		105
Net operating loss carryforwards	61		75
Difference between book and tax basis of other assets	48		14

Operating right-of-use lease liabilities	59		60
Other	15		17
Total deferred tax assets	506		507
Valuation allowance	(51)		(49)
Net deferred tax asset	455		458
Net overall deferred tax liability	$	(1,579)	$	(1,495)

Changes in the deferred tax valuation allowance for the years ended December 31 follow:


	2024		2023		2022
Valuation allowance, beginning of year	$	49	$	44	$	44
Additions charged to provision for income taxes	6		3		2
Deferred tax assets realized or written-off	—		—		(6)

Other, net	(4)		2		4
Valuation allowance, end of year	$	51	$	49	$	44

We have deferred tax assets related to state net operating loss carryforwards. We provide a partial valuation allowance due to uncertainty surrounding the future utilization of these carryforwards in the taxing jurisdictions where the loss carryforwards exist. When determining the need for a valuation allowance, we consider all positive and negative evidence, including recent financial results, scheduled reversals of deferred tax liabilities, projected future taxable income and tax planning strategies. The weight given to the positive and negative evidence is commensurate with the extent such evidence can be objectively verified. We adjust the valuation allowance in the period management determines it is more likely than not that deferred tax assets will or will not be realized.

The majority of our valuation allowance is associated with state loss carryforwards. The realization of our deferred tax asset for state loss carryforwards ultimately depends upon the existence of sufficient taxable income in the appropriate state taxing jurisdictions in future periods. We continue to regularly monitor both positive and negative evidence in determining the ongoing need for a valuation allowance.

We have deferred tax assets related to state net operating loss carryforwards with an estimated tax effect of $50 million available as of December 31, 2024. These state net operating loss carryforwards expire at various times between 2025 and 2044. We believe that it is more likely than not that the benefit from some of our state net operating loss carryforwards will not be realized due to limitations on these loss carryforwards in certain states. In recognition of this risk, as of December 31, 2024, we have provided a valuation allowance of $45 million.

We are subject to income tax in the United States, as well as income tax in multiple state and foreign jurisdictions. Income tax in our foreign jurisdictions is not material for all years presented. Our compliance with income tax rules and regulations is periodically audited by tax authorities. These authorities may challenge the positions taken in our tax filings. Thus, to provide for certain potential tax exposures, we maintain liabilities for uncertain tax positions for our estimate of the final outcome of the examinations. Our federal statute of limitations applicable to our federal tax returns is closed through 2020. The federal statute of limitations applicable to an acquired subsidiary is closed through 2019. In addition, we are currently under state examination or administrative review in various jurisdictions for tax years 2012 through 2023.

The following table summarizes the activity in our gross unrecognized tax benefits for the years ended December 31:


	2024		2023		2022
Balance at beginning of year	$	42	$	111	$	102
Additions for tax positions of current year	—		1		7
Additions for tax positions of prior years	1		3		2
Reductions for tax positions of prior years	(5)		(7)		—
Reductions for tax positions resulting from lapse of statute of limitations	(1)		—		—
Settlements	(9)		(66)		—
Balance at end of year	$	28	$	42	$	111

Included in our gross unrecognized tax benefits as of December 31, 2024, 2023 and 2022 are $22 million, $33 million and $97 million, respectively, of unrecognized tax benefits (net of the federal benefit) that, if recognized, would affect our effective income tax rate in future periods. However, we are unable to estimate the resolution of these matters over the next 12 months.

During 2023, we settled our 2014-2018 tax years with the Internal Revenue Service. These settlements reduced our gross unrecognized tax benefits by $66 million.

We recognize interest and penalties as incurred within the provision for income taxes in our consolidated statements of income. Related to the unrecognized tax benefits previously noted, we recorded a reduction to interest expense of $6 million during 2024 and, in total as of December 31, 2024, have recognized a liability for penalties of $1 million and interest of $5 million. During 2023, we recorded interest expense of $1 million and, in total as of December 31, 2023, had recognized a liability for interest of $14 million. During 2022, we recorded interest expense of $1 million and, in total as of December 31, 2022, had recognized a liability for interest of $15 million.

We believe the recorded liabilities for uncertain tax positions are adequate. However, a significant assessment against us in excess of the liabilities recorded could have a material adverse effect on our consolidated financial position, results of operations and cash flows.

- Definition

The entire disclosure for income tax.

+ References

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+ Details

Financial Instruments (Fair Value Measurements) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, carrying value	$ 12,713,000,000	$ 12,819,000,000
Long-term debt	12,840,000,000
Waste Management Contract, Sonoma County
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent purchase price and acquisition holdbacks	57,000,000
Potential undiscounted future contingent liability payments, minimum	77,000,000
Potential undiscounted future contingent liability payments, maximum	105,000,000
Change in amount of contingent consideration, liability	0
Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt	$ 12,200,000,000	$ 12,500,000,000

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Other Assets

12 Months Ended

Dec. 31, 2024

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other Assets

OTHER ASSETS

Prepaid Expenses and Other Current Assets

A summary of prepaid expenses and other current assets as of December 31 follows:


	2024		2023
Prepaid expenses	$	127	$	123
Income taxes receivable	124		126
Parts and supplies	98		98
Other non-trade receivables	96		63
Reinsurance receivable	30		35
Prepaid fees for cloud-based hosting arrangements, current	27		17
Other	9		11
Total	$	511	$	473

Other Assets

A summary of other assets as of December 31 follows:


	2024		2023
Investments	$	637	$	469
Operating right-of-use lease assets	232		238
Deferred compensation plan	125		113
Prepaid fees and capitalized implementation costs for cloud-based hosting arrangements	123		68
Reinsurance receivable	86		92
Deferred contract costs and sales commissions	82		83
Derivative and hedging assets	55		74
Amounts recoverable for capping, closure and post-closure obligations	24		22
Other	19		25
Total	$	1,383	$	1,184

Business Acquisitions, Investments and Restructuring Charges (Tables)

12 Months Ended

Dec. 31, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Schedule of aggregate purchase price and allocation of purchase price in other acquisitions

The purchase price paid for these business acquisitions and the allocations of the purchase price follows:


	2024		2023
Purchase price:
Cash used in acquisitions, net of cash acquired of $1 and $23, respectively	$	274	$	1,756

Holdbacks	7		19
Fair value, future minimum lease payments	—		1

Total	$	281	$	1,776
Allocated as follows:

Accounts receivable	6		67
Prepaid expenses	—		6
Landfill development costs	—		49
Property and equipment	57		374
Operating right-of-use lease assets	2		14



Parts and supplies	2		3
Accounts payable	—		(20)
Deferred revenue	(2)		(11)
Environmental remediation liabilities	—		(6)
Closure and post-closure liabilities	—		(11)
Operating right-of-use lease liabilities	(2)		(14)
Deferred income tax liabilities	(1)		(25)
Other liabilities	(1)		(12)
Fair value of tangible assets acquired and liabilities assumed	61		414
Excess purchase price to be allocated	$	220	$	1,362
Excess purchase price allocated as follows:
Other intangible assets	$	44	$	204
Goodwill	176		1,158

Total allocated	$	220	$	1,362

Share Repurchases and Dividends (Share Repurchase Activity) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Equity [Abstract]
Number of shares repurchased (in shares)	3	2	2
Amount paid	$ 480	$ 262	$ 203
Weighted average cost per share (in dollars per share)	$ 193.59	$ 145.72	$ 124.02

Employee Benefit Plans (Pension Plans) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Multiemployer Plans [Line Items]
Republic Contributions to Plan	$ 104	$ 99	$ 86
Western Conference of Teamsters Pension Plan
Multiemployer Plans [Line Items]
Republic Contributions to Plan	75	70	61
All other plans
Multiemployer Plans [Line Items]
Republic Contributions to Plan	$ 29	$ 29	$ 25

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Financial Instruments

12 Months Ended

Dec. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Financial Instruments

FINANCIAL INSTRUMENTS

Fair Value Measurements

In measuring fair values of assets and liabilities, we use valuation techniques that maximize the use of observable inputs (Level 1) and minimize the use of unobservable inputs (Level 3). We also use market data or assumptions that we believe market participants would use in pricing an asset or liability, including assumptions about risk when appropriate.

The carrying value for certain of our financial instruments, including cash, accounts receivable, accounts payable and certain other accrued liabilities, approximates fair value because of their short-term nature.

As of December 31, 2024 and 2023, our assets and liabilities that are measured at fair value on a recurring basis include the following:


	December 31, 2024
			Fair Value
	Carrying Amount		Total		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Money market mutual funds - restricted cash and marketable securities and other assets	$	62	$	62	$	62	$	—	$	—
Bonds and fixed income - restricted cash and marketable securities and other assets	90		90		—		90		—
Derivative and hedging assets - other assets, prepaid expenses and other current assets	55		55		—		55		—
Total assets	$	207	$	207	$	62	$	145	$	—
Liabilities:
Derivative and hedging liabilities - other accrued liabilities and other long-term liabilities	$	72	$	72	$	—	$	72	$	—

Contingent consideration - other accrued liabilities and other long-term liabilities	65		65		—		—		65
Total liabilities	$	137	$	137	$	—	$	72	$	65


	December 31, 2023
			Fair Value
	Carrying Amount		Total		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Money market mutual funds - restricted cash and marketable securities and other assets	$	43	$	43	$	43	$	—	$	—
Bonds - restricted cash and marketable securities and other assets	76		76		—		76		—
Derivative and hedging assets - other assets	78		78		—		78		—
Total assets	$	197	$	197	$	43	$	154	$	—
Liabilities:
Derivative and hedging liabilities - other accrued liabilities and other long-term liabilities	$	80	$	80	$	—	$	80	$	—
Contingent consideration - other accrued liabilities and other long-term liabilities	64		64		—		—		64
Total liabilities	$	144	$	144	$	—	$	80	$	64

Total Debt

As of December 31, 2024 and 2023, the carrying value of our total debt was $12.7 billion and $12.8 billion, respectively, and the fair value of our total debt was $12.2 billion and $12.5 billion, respectively. The estimated fair value of our fixed rate senior notes and debentures is based on quoted market prices. The fair value of our remaining notes payable, tax-exempt financings and borrowings under our credit facilities approximates the carrying value because the interest rates are variable. The fair value estimates are based on Level 2 inputs of the fair value hierarchy as of December 31, 2024 and 2023. See Note 9, Debt, for further information related to our debt.

Contingent Consideration

In 2015, we entered into a waste management contract with the County of Sonoma, California to operate the county's waste management facilities. As of December 31, 2024, the Sonoma contingent consideration represents the fair value of $57 million payable to the County of Sonoma based on the achievement of future annual tonnage targets through the expected remaining capacity of the landfill. The potential undiscounted amount of all future contingent payments that we could be required to make under the waste management contract is estimated to be between approximately $77 million and $105 million. During 2024, the activity in the contingent consideration liability included accretion, which was offset by concession payments made in the ordinary course of business. There were no changes to the estimate of fair value.

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

Summary of Earnings per share

Earnings per share for the years ended December 31, 2024, 2023 and 2022 are calculated as follows (in thousands, except per share amounts):


	2024		2023		2022
Basic earnings per share:
Net income attributable to Republic Services, Inc.	$	2,043,173	$	1,730,985	$	1,487,586
Weighted average common shares outstanding	314,399		316,182		316,530
Basic earnings per share	$	6.50	$	5.47	$	4.70
Diluted earnings per share:
Net income attributable to Republic Services, Inc.	$	2,043,173	$	1,730,985	$	1,487,586
Weighted average common shares outstanding	314,399		316,182		316,530
Effect of dilutive securities:

Unvested RSU awards	126		104		152
Unvested PSU awards	284		379		398
Weighted average common and common equivalent shares outstanding	314,809		316,665		317,080
Diluted earnings per share	$	6.49	$	5.47	$	4.69

Commitments and Contingencies (Restricted Cash and Marketable Securities) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Capping, closure and post-closure obligations	$ 59	$ 43
Insurance	149	121
Total restricted cash and marketable securities	$ 208	$ 164	$ 128

Debt (Credit Facilities) (Details) $ in Millions	1 Months Ended		12 Months Ended
Debt (Credit Facilities) (Details) $ in Millions	Jul. 31, 2024 USD ($) extension	Aug. 31, 2021	Dec. 31, 2024 USD ($)	Dec. 31, 2024 CAD ($)	Dec. 31, 2023 USD ($)	Oct. 31, 2023 USD ($)	Feb. 28, 2023 USD ($)	Aug. 31, 2022 USD ($)	May 31, 2022 USD ($)	Apr. 29, 2022 USD ($)	Jan. 31, 2022 USD ($)
Line of Credit Facility [Line Items]
Long-term debt			$ 12,840,000,000
Letters of credit outstanding under credit facilities			317,000,000		$ 337,000,000
Balance availability under credit facilities			2,192,000,000		2,371,000,000
Uncommitted Credit Facility
Line of Credit Facility [Line Items]
Credit facility maximum borrowing capacity											$ 200,000,000
Long-term debt			0		0
Principal			0		0
The Credit Facility
Line of Credit Facility [Line Items]
Long-term debt			514,000,000		297,000,000
Principal			514,000,000		297,000,000
Term Loan Facility
Line of Credit Facility [Line Items]
Long-term debt			0		500,000,000
Accordion feature, increase limit (up to)	$ 1,000,000,000.0
Principal			0		500,000,000
Commercial Paper Facility
Line of Credit Facility [Line Items]
Credit facility maximum borrowing capacity						$ 1,500,000,000		$ 1,000,000,000.0	$ 500,000,000
Long-term debt			477,000,000		495,000,000
Principal			$ 477,000,000		496,000,000
Weighted average interest rate			4.646%	4.646%
Commercial Paper Facility \| Weighted Average
Line of Credit Facility [Line Items]
Weighted average maturity term			18 days
Revolving Credit Facility
Line of Credit Facility [Line Items]
Long-term debt			$ 514,000,000		$ 297,000,000
Revolving Credit Facility \| Canadian Sublimit
Line of Credit Facility [Line Items]
Credit facility maximum borrowing capacity							$ 1,000,000,000.0
Long-term debt				$ 232
Interest rate			5.309%	5.309%
Line of Credit \| The Credit Facility
Line of Credit Facility [Line Items]
Credit facility maximum borrowing capacity	$ 3,500,000,000
Line of Credit \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Number of available extensions \| extension	2
Extension period	1 year
Basis spread on variable rate		0.92%
Term Loan Facility
Line of Credit Facility [Line Items]
Principal amount										$ 1,000,000,000

Property and Equipment, Net

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

PROPERTY AND EQUIPMENT, NET

A summary of property and equipment, net as of December 31 follows:


	2024		2023
Land	$	897	$	878
Landfill development costs	10,518		9,911
Vehicles and equipment	10,998		10,232
Buildings and improvements	2,119		1,922
Construction-in-progress – landfill	437		350
Construction-in-progress – other	575		554
	$	25,544	$	23,847
Less: accumulated depreciation, depletion and amortization
Landfill development costs	$	(6,031)	$	(5,516)
Vehicles and equipment	(6,692)		(6,148)
Buildings and improvements	(944)		(832)
	(13,667)		(12,496)
Property and equipment, net	$	11,877	$	11,351

Depreciation, depletion and amortization of property and equipment was $1,517 million, $1,368 million and $1,246 million for the years ended December 31, 2024, 2023 and 2022, respectively.

Other Liabilities

12 Months Ended

Dec. 31, 2024

Other Liabilities Disclosure [Abstract]

Other Liabilities

OTHER LIABILITIES

Other Accrued Liabilities

A summary of other accrued liabilities as of December 31 follows:


	2024		2023
Accrued payroll and benefits	$	339	$	351
Insurance reserves, current	220		217
Accrued fees and taxes	204		194
Accrued dividends	181		168
Operating right-of-use lease liabilities, current	55		55
Ceded insurance reserves, current	30		35
Contingent purchase price and acquisition holdbacks	14		17
Accrued professional fees and legal settlement reserves	12		18



Other	121		117
Total	$	1,176	$	1,172

Other Long-Term Liabilities

A summary of other long-term liabilities as of December 31 follows:


	2024		2023
Operating right-of-use lease liabilities	$	189	$	195
Deferred compensation plan liability	120		115
Ceded insurance reserves	86		92
Derivative and hedging liabilities	72		71
Contingent purchase price and acquisition holdbacks	60		59
Withdrawal liability - multiemployer pension funds	19		20

Other	42		43
Total	$	588	$	595

Insurance Reserves

Our liabilities for unpaid and incurred but not reported claims as of December 31, 2024 and 2023 (which include claims for workers’ compensation, commercial general and auto liability and employee-related health care benefits) were $622 million and $566 million, respectively, under our risk management program and are included in other accrued liabilities and insurance reserves, net of current portion, in our consolidated balance sheets. While the ultimate amount of claims incurred depends on future developments, we believe the recorded reserves are adequate to cover the future payment of claims; however, it is possible that these recorded reserves may not be adequate to cover the future payment of claims. Adjustments, if any, to estimates recorded resulting from ultimate claim payments will be reflected in our consolidated statements of income in the periods in which such adjustments are known.

The following table summarizes the activity in our insurance reserves for the years ended December 31:


	2024		2023		2022
Balance at beginning of year	$	566	$	503	$	497
Additions charged to expense	671		656		565
Payments	(701)		(636)		(594)
Premium written for third party risk assumed	86		43		35
Balance at end of year	622		566		503
Less: current portion	(220)		(217)		(188)
Long-term portion	$	402	$	349	$	315

Commitments and Contingencies (Financial Instruments and Collateral) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Letters of credit
Debt Instrument [Line Items]
Securities collateral	$ 464	$ 467
Surety bonds
Debt Instrument [Line Items]
Securities collateral	$ 5,045	$ 4,677

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Segment Reporting (Narrative) (Details) $ in Millions	12 Months Ended
Segment Reporting (Narrative) (Details) $ in Millions	Dec. 31, 2024 USD ($) segment	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Segment Reporting Information [Line Items]
Number of operating segments \| segment	3
Revenue	$ 16,032	$ 14,965	$ 13,511
Total Assets	32,402	31,410	29,053
Canada
Segment Reporting Information [Line Items]
Revenue	182	170	$ 90
Total Assets	$ 129	$ 137

- Definition

Amount of asset recognized for present right to economic benefit.

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+ Details

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 2,043,173	$ 1,730,985	$ 1,487,586

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Other Assets (Prepaid Expenses and Other Current Assets) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Income taxes receivable	$ 124	$ 126
Prepaid expenses	127	123
Parts and supplies	98	98
Other non-trade receivables	96	63
Reinsurance receivable	30	35
Prepaid fees for cloud-based hosting arrangements, current	27	17
Other	9	11
Total	$ 511	$ 473

Changes in Accumulated Other Comprehensive Loss by Component (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period	$ 10,543	$ 9,686	$ 8,978
Other comprehensive income (loss) before reclassifications	0	9	2
Amounts reclassified from accumulated other comprehensive loss	(14)	(9)	1
Net current-period other comprehensive income (loss)	(14)	0	3
Balance at end of period	11,407	10,543	9,686
Total
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period	(12)	(12)	(15)
Balance at end of period	(26)	(12)	(12)
Cash Flow Hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period	(11)	(16)	(26)
Other comprehensive income (loss) before reclassifications	6	14	9
Amounts reclassified from accumulated other comprehensive loss	(8)	(9)	1
Net current-period other comprehensive income (loss)	(2)	5	10
Balance at end of period	(13)	(11)	(16)
Defined Benefit Pension Plan
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period	9	9	11
Other comprehensive income (loss) before reclassifications	(3)	0	(2)
Amounts reclassified from accumulated other comprehensive loss	(6)	0	0
Net current-period other comprehensive income (loss)	(9)	0	(2)
Balance at end of period	0	9	9
Foreign Currency Translation
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period	(10)	(5)	0
Other comprehensive income (loss) before reclassifications	(3)	(5)	(5)
Amounts reclassified from accumulated other comprehensive loss	0	0	0
Net current-period other comprehensive income (loss)	(3)	(5)	(5)
Balance at end of period	$ (13)	$ (10)	$ (5)

- Definition

Amount after tax, before reclassification adjustments of other comprehensive income (loss).

+ References + Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

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Amount after tax of reclassification adjustments of other comprehensive income (loss).

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- Definition

Amount of equity (deficit) attributable to parent and noncontrolling interest. Excludes temporary equity.

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+ Details

Other Assets (Tables)

12 Months Ended

Dec. 31, 2024

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of prepaid expenses and other current assets

A summary of prepaid expenses and other current assets as of December 31 follows:


	2024		2023
Prepaid expenses	$	127	$	123
Income taxes receivable	124		126
Parts and supplies	98		98
Other non-trade receivables	96		63
Reinsurance receivable	30		35
Prepaid fees for cloud-based hosting arrangements, current	27		17
Other	9		11
Total	$	511	$	473

Schedule of other assets

A summary of other assets as of December 31 follows:


	2024		2023
Investments	$	637	$	469
Operating right-of-use lease assets	232		238
Deferred compensation plan	125		113
Prepaid fees and capitalized implementation costs for cloud-based hosting arrangements	123		68
Reinsurance receivable	86		92
Deferred contract costs and sales commissions	82		83
Derivative and hedging assets	55		74
Amounts recoverable for capping, closure and post-closure obligations	24		22
Other	19		25
Total	$	1,383	$	1,184

Other Liabilities (Other Accrued and Other Long-Term Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Other Accrued Liabilities
Accrued payroll and benefits	$ 339	$ 351
Insurance reserves, current	220	217	$ 188
Accrued fees and taxes	204	194
Accrued dividends	181	168
Operating right-of-use lease liabilities, current	55	55
Ceded insurance reserves, current	30	35
Contingent purchase price and acquisition holdbacks	14	17
Accrued professional fees and legal settlement reserves	12	18
Other	121	117
Total	1,176	1,172
Other Long-Term Liabilities
Operating right-of-use lease liabilities	189	195
Deferred compensation plan liability	120	115
Ceded insurance reserves	86	92
Derivative and hedging liabilities	72	71
Contingent purchase price and acquisition holdbacks	60	59
Withdrawal liability - multiemployer pension funds	19	20
Other	42	43
Total	$ 588	$ 595

Leases (Leased Assets and Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Assets
Operating right-of-use lease assets	$ 232	$ 238
Finance lease assets	294	287
Total leased assets	526	525
Current
Operating	55	55
Finance	13	13
Long-term
Operating	189	195
Finance	249	238
Total lease liabilities	$ 506	$ 501
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other Assets, Noncurrent	Other Assets, Noncurrent
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other Accrued Liabilities, Current	Other Accrued Liabilities, Current
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Long-Term Debt and Lease Obligation, Current	Long-Term Debt and Lease Obligation, Current
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other Liabilities, Noncurrent	Other Liabilities, Noncurrent
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Long-term portion	Long-term portion

Share Repurchases and Dividends (Tables)

12 Months Ended

Dec. 31, 2024

Equity [Abstract]

Schedule of share repurchase activity

Share repurchase activity during the years ended December 31, 2024, 2023 and 2022 follows (in millions except per share amounts):


	2024		2023		2022
Number of shares repurchased	3		2		2
Amount paid	$	480	$	262	$	203
Weighted average cost per share	$	193.59	$	145.72	$	124.02

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2024
Auditor Information [Abstract]
Auditor Name	Ernst & Young LLP
Auditor Location	Phoenix, Arizona
Auditor Firm ID	42

Employee Benefit Plans

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Employee Benefit Plans

EMPLOYEE BENEFIT PLANS

Stock-Based Compensation

In October 2020, our Board of Directors amended and restated the Republic Services, Inc. Executive Incentive Plan (the 2021 Plan) to remove references to the performance-based compensation exception that was previously permitted but is no longer applicable under Section 162(m) of the Internal Revenue Code. The purposes of the 2021 Plan are to promote the success of the Company; to provide designated Executive Officers with an opportunity to receive incentive compensation dependent upon that success; and to attract, retain and motivate such individuals. We currently have approximately 11 million shares of common stock reserved for future grants under the 2021 Plan.

In February 2007, our Board of Directors approved the 2007 Stock Incentive Plan (the 2007 Plan); in May 2007 our shareholders approved the 2007 Plan. In March 2011, our Board of Directors approved the Amended and Restated 2007 Stock Incentive Plan (the Amended and Restated 2007 SIP); in May 2011 our shareholders approved the Amended and Restated 2007 SIP. In March 2013, our Board of Directors approved the Republic Services, Inc. Amended and Restated 2007 Stock Incentive Plan (the Republic Amended and Restated 2007 SIP); in May 2013 our shareholders approved the Republic Amended and Restated 2007 SIP (the 2007 Plan, the Amended and Restated 2007 SIP and the Republic Amended and Restated 2007 SIP are collectively referred to as the Amended and Restated 2007 Stock Incentive Plan). No further awards will be made under the Amended and Restated 2007 Stock Incentive Plan.

Restricted Stock Units

The following table summarizes restricted stock unit (RSU) activity for the years ended December 31, 2024, 2023 and 2022:


	Number of RSUs (in thousands)	Weighted-Average Grant Date Fair Value per Share		Weighted-Average Remaining Contractual Term (years)	Aggregate Intrinsic Value (in millions)
Unissued as of December 31, 2021	1,091	$	77.19
Granted	259	$	122.54
Vested and issued	(388)	$	74.34
Forfeited	(48)	$	110.92
Unissued as of December 31, 2022	914	$	85.43
Granted	250	$	133.03
Vested and issued	(208)	$	95.24
Forfeited	(41)	$	117.54
Unissued as of December 31, 2023	915	$	93.35
Granted	184	$	184.28
Vested and issued	(228)	$	102.81
Forfeited	(30)	$	139.24
Unissued as of December 31, 2024	841	$	107.81	0.7	$	169.20
Vested and unissued as of December 31, 2024	415	$	70.32

During the years ended December 31, 2024, 2023 and 2022, we awarded our non-employee directors 16,540, 20,324 and 18,689 RSUs, respectively, which vested upon issuance.

During the years ended December 31, 2024, 2023 and 2022, we awarded 158,789, 216,610 and 226,108 RSUs, respectively, to executives and employees that vest in four equal annual installments beginning on the anniversary date of the original grant or cliff vest after three or four years.

During the years ended December 31, 2024, 2023 and 2022, we granted an additional 8,868, 12,751 and 13,969 RSUs, respectively, as dividend equivalents.

The RSUs do not carry any voting or dividend rights, except the right to receive additional RSUs in lieu of dividends.

Compensation Expense

The fair value of RSUs is based on the closing market price on the date of the grant. The compensation expense related to RSUs is amortized ratably over the vesting period, or to the employee's retirement eligible date, if earlier.

During the years ended December 31, 2024, 2023 and 2022, compensation expense related to RSUs totaled $25 million, $24 million and $23 million, respectively. As of December 31, 2024, total unrecognized compensation expense related to outstanding RSUs was $41 million, which will be recognized over a weighted average period of approximately two years.

Performance Shares

The following table summarizes performance stock unit (PSU) activity for the years ended December 31, 2024, 2023 and 2022:


	Number of PSUs (in thousands)	Weighted Average Grant Date Fair Value per Share
Outstanding as of December 31, 2021	857	$	84.79
Granted	157	$	124.29
Vested and issued	(234)	$	76.24
Forfeited	(24)	$	109.62
Outstanding as of December 31, 2022	756	$	95.19
Granted	200	$	138.03
Vested and issued	(227)	$	100.06
Forfeited	(41)	$	123.30
Outstanding as of December 31, 2023	688	$	101.48
Granted	281	$	142.50
Vested and issued	(420)	$	90.54
Forfeited	(25)	$	136.27
Outstanding and Exercisable as of December 31, 2024	524	$	125.70

During the years ended December 31, 2024, 2023 and 2022, we awarded 153,883, 80,452 and 79,043 PSUs to our executive officers, respectively. These awards are performance-based as the number of shares ultimately earned depends on performance against pre-determined targets for return on invested capital (ROIC), cash flow value creation (CFVC) and total shareholder return relative to the S&P 500 index (RTSR). The PSUs are payable 50% in shares of common stock and 50% in cash after the end of a three-year performance period, when our financial performance for the entire performance period is reported, typically in February of the succeeding year. At the end of the performance period, the number of PSUs awarded can range from 0% to 150% of the targeted amount, depending on the performance against the pre-determined targets.

During the years ended December 31, 2024, 2023 and 2022, we awarded 120,433, 108,560 and 66,296 PSUs to our employees other than our executive officers, respectively. The PSUs are payable 100% in shares of common stock after the end of a three-year performance period, when our financial performance for the entire performance period is reported, typically in February of the succeeding year. At the end of the performance period, the number of PSUs awarded can range from 0% to 150% of the targeted amount, depending on the performance against the pre-determined targets.

The PSUs do not carry any voting or dividend rights, except the right to accumulate additional PSUs in lieu of dividends.

During the years ended December 31, 2024, 2023 and 2022, we granted an additional 6,795, 10,511 and 11,304 PSUs to our executive officers, respectively, as dividend equivalents.

Compensation Expense

For the stock-settled portion of the award that vests based on future ROIC and CFVC performance, compensation expense is measured using the fair value of our common stock at the grant date. For the cash-settled portion of the award that vests based on future ROIC and CFVC performance, compensation expense is recorded based on the fair value of our common stock at the end of each reporting period. Compensation expense is recognized ratably over the performance period based on our estimated achievement of the established performance criteria. Compensation expense is only recognized for the portion of the award that we expect to vest, which we estimate based on an assessment of the probability that the performance criteria will be achieved.

For the stock-settled portion of the award that vests based on RTSR, the grant date fair value is based on a Monte Carlo valuation and compensation expense is recognized on a straight-line basis over the vesting period. For the cash-settled portion of the award that vests based on RTSR, compensation expense also incorporates the fair value of our PSUs at the end of each reporting period. Compensation expense is recognized for the RTSR portion of the award whether or not the market conditions are achieved.

During the years ended December 31, 2024, 2023 and 2022, compensation expense related to PSUs totaled $30 million, $29 million and $22 million, respectively. As of December 31, 2024, total unrecognized compensation expense related to outstanding PSUs was $25 million, which will be recognized over a weighted average period of approximately 1.5 years.

Collective Bargaining Agreements

As of December 31, 2024, approximately 22% of our workforce was covered by collective bargaining agreements (CBAs), and approximately 4% of our workforce was covered by CBAs that will expire during 2025.

Multiemployer Pension Plans

We participate in multiemployer pension plans that generally provide retirement benefits to participants of contributing employers. We do not administer these plans. In general, these plans are managed by a board of trustees with the unions appointing certain trustees and other contributing employers of the plan appointing certain members. We generally are not represented on the board of trustees.

Based on the information available to us, we believe that some of the multiemployer plans to which we contribute are either critical or endangered as those terms are defined in the Pension Protection Act (PPA). The PPA requires underfunded pension plans to improve their funding ratios within prescribed intervals based on the level of their underfunding. Until the plan trustees develop the funding improvement plans or rehabilitation plans as required by the PPA, we cannot determine the amount of any additional contribution or other financial obligations that we may be subject to, if any. Accordingly, we cannot presently determine the effect that the PPA may have on our consolidated financial position, results of operations or cash flows.

Furthermore, under current law regarding multiemployer benefit plans, a plan’s termination, our voluntary withdrawal (which we consider from time to time), or the mass withdrawal from any under-funded multiemployer pension plan would require us to make payments to the plan for our proportionate share of the multiemployer plan’s unfunded vested liabilities. During the course of operating our business, we may incur withdrawal events regarding certain of the multiemployer pension plans in which we participate. We accrue for such events when losses become probable and reasonably estimable.


		Pension Protection Act Zone Status		Funding Improvement or Rehabilitation Plan Status Pending /	Republic Contributions to Plan						Surcharge	Expiration Dates
Legal Plan Name	EIN	2024	2023	Implemented	2024		2023		2022		Imposed	of CBAs
Western Conference of Teamsters Pension Plan	91-6145047	Safe	Safe	No	$	75	$	70	$	61	No	Various dates through 9/30/2029
All other plans	N/A	N/A	N/A	N/A	29		29		25		N/A
Total					$	104	$	99	$	86

Defined Contribution Plan

We maintain the Republic Services 401(k) Plan (the 401(k) Plan), which is a defined contribution plan covering all eligible employees. Under the 401(k) Plan, participants may direct us to defer a portion of their compensation to the 401(k) Plan, subject to Internal Revenue Code limitations. We provide for an employer matching contribution equal to 100% of the first 3% of eligible compensation and 50% of the next 2% of eligible compensation contributed by each employee, which is funded in cash. All contributions vest immediately.

Total expense recorded for matching 401(k) contributions in 2024, 2023 and 2022 was $95 million, $82 million and $74 million, respectively.

Deferred Compensation Plan

We provide eligible Republic employees, officers and directors with the opportunity to voluntarily defer base salary, bonus payments, long-term incentive awards and other compensation, as applicable, on a pre-tax basis through the Republic Services, Inc. Deferred Compensation Plan (the DCP). The DCP is a nonqualified deferred compensation plan that conforms to Section 409A of the Internal Revenue Code. Eligible participants can defer up to 80% of base salary and up to 100% of bonus,

long-term compensation and directors’ fees. Under the DCP, some participants also are eligible for matching contributions. The matching contribution under the DCP is equal to the lesser of 2% of the participant’s compensation over established 401(k) limits or 50% of the amount the participant has deferred. The DCP participants have no ownership or security interest in any of the amounts deferred or the measurement funds under the DCP. The right of each participant in the DCP is solely that of a general, unsecured creditor of Republic with respect to his or her own interest under the DCP. Deferred amounts may be subject to forfeiture and are deemed invested among investment funds offered under the DCP, as directed by each participant. Payments of deferred amounts are payable following separation from service or at a date or dates elected by the participant when the deferral is elected. Payments of deferred amounts are made in either a lump sum or in annual installments over a period not exceeding 15 years.

Republic invested in corporate-owned life insurance policies to satisfy future obligations under the DCP. These corporate-owned life insurance policies are held in a Rabbi Trust and are recorded at the amount that can be realized under insurance contracts at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement. The aggregate cash surrender value of these life insurance policies was $125 million and $113 million as of December 31, 2024 and 2023, respectively, and is classified in other assets in our consolidated balance sheets. The DCP liability was $120 million and $115 million as of December 31, 2024 and 2023, respectively, and is classified in other long-term liabilities in our consolidated balance sheets.

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 74	$ 140
Accounts receivable, less allowance for doubtful accounts and other of $74 and $83, respectively	1,821	1,768
Prepaid expenses and other current assets	511	473
Total current assets	2,406	2,381
Restricted cash and marketable securities	208	164
Property and equipment, net	11,877	11,351
Goodwill	15,982	15,834
Other intangible assets, net	546	496
Other assets	1,383	1,184
Total assets	32,402	31,410
Current liabilities:
Accounts payable	1,345	1,412
Notes payable and current maturities of long-term debt	862	932
Deferred revenue	485	467
Accrued landfill and environmental costs, current portion	159	141
Accrued interest	101	104
Other accrued liabilities	1,176	1,172
Total current liabilities	4,128	4,228
Long-term debt, net of current maturities	11,851	11,887
Accrued landfill and environmental costs, net of current portion	2,432	2,281
Deferred income taxes and other long-term tax liabilities, net	1,594	1,527
Insurance reserves, net of current portion	402	349
Other long-term liabilities	588	595
Commitments and contingencies
Stockholders’ equity:
Preferred stock, par value $0.01 per share; 50 shares authorized; none issued	0	0
Common stock, par value $0.01 per share; 750 shares authorized; 313 and 321 issued including shares held in treasury, respectively	3	3
Additional paid-in capital	1,767	2,901
Retained earnings	9,774	8,434
Treasury stock, at cost; 1 and 6 shares, respectively	(113)	(784)
Accumulated other comprehensive income, net of tax	(26)	(12)
Total Republic Services, Inc. stockholders’ equity	11,405	10,542
Non-controlling interests in consolidated subsidiary	2	1
Total stockholders’ equity	11,407	10,543
Total liabilities and stockholders’ equity	$ 32,402	$ 31,410

Landfill and Environmental Costs (Asset Retirement Obligation Liabilities) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Activity in Asset Retirement Obligation Liabilities
Asset retirement obligations, beginning of year	$ 1,937	$ 1,786	$ 1,507
Non-cash additions	61	61	60
Acquisitions, net of divestitures and other adjustments	4	12	175
Asset retirement obligation adjustments	91	41	20
Payments	(56)	(61)	(65)
Accretion expense	107	98	89
Asset retirement obligations, end of year	2,144	1,937	1,786
Less: Current portion	(96)	(72)	(75)
Long-term portion	$ 2,048	$ 1,865	$ 1,711

Basis of Presentation (Details)	12 Months Ended
Basis of Presentation (Details)	Dec. 31, 2024 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments	3

Property and Equipment, Net (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Depreciation, depletion and amortization	$ 1,677	$ 1,501	$ 1,352
Property, Plant and Equipment
Property, Plant and Equipment [Line Items]
Depreciation, depletion and amortization	$ 1,517	$ 1,368	$ 1,246

Basis of Presentation	12 Months Ended
Basis of Presentation	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	BASIS OF PRESENTATION Republic Services, Inc., a Delaware corporation, and its consolidated subsidiaries (also referred to collectively as Republic, the Company, we, us, or our), is one of the largest providers of environmental services in the United States, as measured by revenue. Our senior management evaluates, oversees and manages the financial performance of our operations through three field groups, referred to as Group 1, Group 2 and Group 3. Group 1 is our recycling and waste business operating primarily in geographic areas located in the western United States. Group 2 is our recycling and waste business operating primarily in geographic areas located in the southeastern and mid-western United States, the eastern seaboard of the United States, and Canada. Group 3 is our environmental solutions business operating primarily in geographic areas located across the United States and Canada. These groups represent our reportable segments, which provide integrated environmental services, including but not limited to collection, transfer, recycling, and disposal. The consolidated financial statements include the accounts of Republic Services, Inc. and its wholly owned and majority-owned subsidiaries in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP). We account for investments in entities in which we do not have a controlling financial interest under the equity method of accounting or, for investments that do not meet the criteria to be accounted for under the equity method, we reflect these investments at their fair value when it is readily determinable. If fair value is not readily determinable, we use an alternative measurement approach. All material intercompany accounts and transactions have been eliminated in consolidation. For comparative purposes, certain prior year amounts have been reclassified to conform to the current year presentation and are not material to our consolidated financial statements. All dollar amounts in tabular presentations are in millions, except per share amounts and unless otherwise noted.

Property and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

Schedule of property and equipment, net

The estimated useful lives of our property and equipment are as follows:


Buildings and improvements			5 - 30 years
Vehicles			5 - 20 years
Landfill equipment			5 - 7 years
Other equipment			3 - 25 years
Furniture and fixtures			3 - 10 years

A summary of property and equipment, net as of December 31 follows:


	2024		2023
Land	$	897	$	878
Landfill development costs	10,518		9,911
Vehicles and equipment	10,998		10,232
Buildings and improvements	2,119		1,922
Construction-in-progress – landfill	437		350
Construction-in-progress – other	575		554
	$	25,544	$	23,847
Less: accumulated depreciation, depletion and amortization
Landfill development costs	$	(6,031)	$	(5,516)
Vehicles and equipment	(6,692)		(6,148)
Buildings and improvements	(944)		(832)
	(13,667)		(12,496)
Property and equipment, net	$	11,877	$	11,351

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Management's Estimates and Assumptions

Management’s Estimates and Assumptions

Cash and Cash Equivalents

We consider liquid investments with a maturity at the date of acquisition of three months or less to be cash equivalents.

Concentration of Credit Risk

for doubtful accounts based on various factors including the credit risk of specific customers, age of receivables outstanding, historical trends, economic conditions and other information.

Accounts Receivable, Net

Restricted Cash and Marketable Securities

Property and Equipment


Buildings and improvements			5 - 30 years
Vehicles			5 - 20 years
Landfill equipment			5 - 7 years
Other equipment			3 - 25 years
Furniture and fixtures			3 - 10 years

closure and post-closure assets. These costs are depleted or amortized based on consumed airspace. All indirect landfill development costs are expensed as incurred.

Capitalized Interest

Fair Value of Financial Instruments

•Level 1 – inputs are based upon unadjusted quoted prices for identical instruments traded in active markets.

Investments Other Than Derivatives

Landfill and Environmental Costs

Life Cycle Accounting

Probable Expansion Airspace

•We own the land associated with the expansion airspace or control it pursuant to an option agreement;

•We are committed to supporting the expansion project financially and with appropriate resources;

•There are no identified fatal flaws or impediments associated with the project, including political impediments;

•Progress is being made on the project;

•The expansion is attainable within a reasonable time frame; and

•We believe it is likely the expansion permit will be received.

We have identified three steps that landfills generally follow to obtain expansion permits. These steps are as follows:

•Obtaining approval from local authorities;

•Submitting a permit application to state authorities; and

•Obtaining permit approval from state authorities.

Capitalized Landfill Costs

Final Capping, Closure and Post-Closure Costs & Environmental Liabilities

Final Capping, Closure and Post-Closure Costs

Final capping

Closure and post-closure

Estimated future expenditures

Fair value measurements

Changes in assets retirement obligations

Landfill operating expenses

Environmental Liabilities

Business Combinations

We acquire businesses in the environmental services industry as part of our growth strategy. Businesses are included in the consolidated financial statements from the date of acquisition.

Goodwill and Other Intangible Assets

Asset Impairments

Events or changes in circumstances that may indicate that an asset may be impaired include the following:

•A significant decrease in the market price of an asset or asset group;

•A significant adverse change in the extent or manner in which an asset or asset group is being used or in its physical condition;

•A significant adverse change in legal factors or in the business climate that could affect the value of an asset or asset group, including an adverse action or assessment by a regulator;

•An accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of a long-lived asset;

•A current expectation that, more likely than not, a long-lived asset or asset group will be sold or otherwise disposed of significantly before the end of its previously estimated useful life; or

•An impairment of goodwill at a reporting unit.

Insurance Reserves

Contingent Liabilities

Accumulated Other Comprehensive Income and Share Repurchases

Accumulated Other Comprehensive Income

Share Repurchases

Revenue Recognition

We generally provide services under contracts with municipalities or individual customers. Municipal and small-container

Income Taxes

Leases

Leases are classified as either operating leases or finance leases, as appropriate. Leases with an initial term of 12 months or less are not recorded on our consolidated balance sheet.

Operating Leases

Finance Leases

Related Party Transactions

It is our policy that transactions with related parties must be on terms that, on the whole, are no less favorable than those that would be available from unaffiliated parties.

New Accounting Pronouncements

Accounting Standards Adopted

Improvements to Reportable Segment Disclosures

Accounting Standards Updates Issued but not yet Adopted as of December 31, 2024

Disaggregation of Income Statement Expenses

Climate-Related Disclosures

Improvements to Income Tax Disclosures

Codification Amendments in Response to the SEC's Disclosure Update and Simplification Initiative

Leases (Lease Cost) (Details) - USD ($) $ in Millions	12 Months Ended
Leases (Lease Cost) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Operating lease cost
Fixed lease cost	$ 50	$ 60
Short-term lease cost	105	89
Variable lease cost	26	27
Finance lease cost
Amortization of leased assets	17	16
Interest on lease liabilities	9	9
Variable lease cost	26	22
Total lease cost	$ 233	$ 223

Changes in Accumulated Other Comprehensive Loss by Component (Reclassifications) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Gain (loss) on cash flow hedges:
Interest expense	$ (539)	$ (508)	$ (395)
Total before tax	2,432	2,191	1,832
Tax (provision) benefit	(388)	(460)	(344)
Pension gains:
Other income	23	7	(2)
Tax provision	(388)	(460)	(344)
Net income	2,044	1,731	1,488
Amount Reclassified from Accumulated Other Comprehensive Loss
Pension gains:
Net income	14	10	0
Amount Reclassified from Accumulated Other Comprehensive Loss \| Cash Flow Hedges
Gain (loss) on cash flow hedges:
Total before tax	11	12	(1)
Tax (provision) benefit	(3)	(3)	0
Pension gains:
Tax provision	(3)	(3)	0
Net income	8	9	(1)
Amount Reclassified from Accumulated Other Comprehensive Loss \| Cash Flow Hedges \| Terminated interest rate locks
Gain (loss) on cash flow hedges:
Interest expense	(3)	(5)	(6)
Amount Reclassified from Accumulated Other Comprehensive Loss \| Cash Flow Hedges \| 2022 Interest Rate Swap
Gain (loss) on cash flow hedges:
Interest expense	14	17	5
Amount Reclassified from Accumulated Other Comprehensive Loss \| Defined Benefit Pension Plan
Gain (loss) on cash flow hedges:
Tax (provision) benefit	(2)	0	0
Pension gains:
Other income	8	1	1
Tax provision	(2)	0	0
Net income	$ 6	$ 1	$ 1

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 2,044	$ 1,731	$ 1,488
Other comprehensive (income) loss, net of tax	(14)	0	3
Comprehensive income	2,030	1,731	1,491
Comprehensive income attributable to non-controlling interests	(1)	0	0
Comprehensive income attributable to Republic Services, Inc.	$ 2,029	$ 1,731	$ 1,491

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

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Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.

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Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

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Amount after tax and reclassification adjustments of other comprehensive income (loss).

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Reference 30: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Goodwill and Other Intangible Assets, Net (Future Amortization Expense) (Details) $ in Millions	Dec. 31, 2024 USD ($)
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
2025	$ 78
2026	74
2027	67
2028	64
2029	$ 58

Goodwill and Other Intangible Assets, Net (Narrative) (Details)	Dec. 31, 2024
Minimum
Finite-Lived Intangible Assets [Line Items]
Amortization period for other intangible assets	1 year
Maximum
Finite-Lived Intangible Assets [Line Items]
Amortization period for other intangible assets	15 years

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Leases (Maturity Schedule) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Operating Leases
2025	$ 61
2026	52
2027	42
2028	34
2029	27
Thereafter	53
Total lease payments	269
Less: interest	(25)
Operating lease, liability	244
Finance Leases
2025	22
2026	20
2027	19
2028	20
2029	18
Thereafter	346
Total lease payments	445
Less: interest	(183)
Finance lease, liability	262
Total
2025	83
2026	72
2027	61
2028	54
2029	45
Thereafter	399
Total lease payments	714
Less: interest	(208)
Total lease liabilities	$ 506	$ 501

Leases (Cash Flow) (Details) - USD ($) $ in Millions	12 Months Ended
Leases (Cash Flow) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$ 181	$ 177
Operating cash flows from finance leases	35	31
Financing cash flows from finance leases	10	12
Leased assets obtained in exchange for new finance lease liabilities	25	17
Leased assets obtained in exchange for new operating lease liabilities	$ 44	$ 33

Employee Benefit Plans (Collective Bargaining Agreements and Multiemployer Pension Plans) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($)
Multiemployer Plans [Line Items]
Percentage of workforce covered by collective bargaining agreement	22.00%
Individually insignificant, contributions in excess of	$ 10
Percentage of funded status of pension protection act critical zone maximum, less than	65.00%
Percentage of funded status of pension protection act endangered zone maximum, less than	80.00%
Percentage of funded status of pension protection act Safe zone minimum, at least	80.00%
Collective Bargaining Arrangements That Will Expire
Multiemployer Plans [Line Items]
Percentage of workforce covered by collective bargaining agreement	4.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Debt (Interest Paid) (Details) - USD ($) $ in Millions	12 Months Ended
Debt (Interest Paid) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
Interest paid	$ 487	$ 423	$ 312

Income Taxes (Unrecognized Tax Benefits) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Unrecognized Tax Benefits [Roll Forward]
Balance at beginning of year	$ 42	$ 111	$ 102
Additions for tax positions of current year	0	1	7
Additions for tax positions of prior years	1	3	2
Reductions for tax positions of prior years	(5)	(7)	0
Reductions for tax positions resulting from lapse of statute of limitations	(1)	0	0
Settlements	(9)	(66)	0
Balance at end of year	$ 28	$ 42	$ 111

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Schedule of activity in allowance for doubtful accounts

The following table reflects the activity in our allowance for doubtful accounts for the years ended December 31:


	2024		2023		2022
Balance at beginning of year	$	83	$	52	$	39
Additions charged to expense	27		53		41
Accounts written-off	(36)		(22)		(28)
Balance at end of year	$	74	$	83	$	52

Schedule of estimated useful lives of our property and equipment

The estimated useful lives of our property and equipment are as follows:


Buildings and improvements			5 - 30 years
Vehicles			5 - 20 years
Landfill equipment			5 - 7 years
Other equipment			3 - 25 years
Furniture and fixtures			3 - 10 years

A summary of property and equipment, net as of December 31 follows:


	2024		2023
Land	$	897	$	878
Landfill development costs	10,518		9,911
Vehicles and equipment	10,998		10,232
Buildings and improvements	2,119		1,922
Construction-in-progress – landfill	437		350
Construction-in-progress – other	575		554
	$	25,544	$	23,847
Less: accumulated depreciation, depletion and amortization
Landfill development costs	$	(6,031)	$	(5,516)
Vehicles and equipment	(6,692)		(6,148)
Buildings and improvements	(944)		(832)
	(13,667)		(12,496)
Property and equipment, net	$	11,877	$	11,351