XML 71 R40.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Income Taxes |
Provision for Income Taxes | Our income tax expense consisted of the following for the year ended December 31 (in millions):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2024 |  | 2023 |  | 2022
Current: |  | ​ |  |  | ​ |  |  | ​ |
Federal | ​ | $ | 419 | ​ | $ | 477 | ​ | $ | 456
State | ​ |  | 133 | ​ |  | 151 | ​ |  | 130
Foreign | ​ |  | 37 | ​ | ​ | 34 | ​ | ​ | 43
​ | ​ |  | 589 | ​ | ​ | 662 | ​ | ​ | 629
Deferred: | ​ |  |  | ​ | ​ |  | ​ | ​ |
Federal | ​ |  | 98 | ​ | ​ | 73 | ​ | ​ | 20
State | ​ |  | 19 | ​ | ​ | 2 | ​ | ​ | 30
Foreign | ​ |  | 7 | ​ | ​ | 8 | ​ | ​ | (1)
​ | ​ |  | 124 | ​ | ​ | 83 | ​ | ​ | 49
Income tax expense | ​ | $ | 713 | ​ | $ | 745 | ​ | $ | 678
U.S. Federal Statutory Income Tax Rate Reconciled to Effective Rate | The U.S. federal statutory income tax rate is reconciled to the effective income tax rate for the year ended December 31 as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2024 |  |  | 2023 |  | ​ | 2022 |
Income tax expense at U.S. federal statutory rate |  | 21.00 | % |  | 21.00 | % | ​ | 21.00 | %
State and local income taxes, net of federal income tax benefit |  | 4.05 |  |  | 4.15 |  | ​ | 4.16 | ​
Adoption of new accounting standard | ​ | 2.25 | ​ | ​ | — | ​ | ​ | — | ​
Federal tax credits |  | (6.63) |  |  | (3.23) |  | ​ | (2.81) | ​
Taxing authority audit settlements and other tax adjustments |  | (0.95) |  |  | (0.02) |  | ​ | 0.54 | ​
Tax impact of equity-based compensation transactions |  | (0.61) |  |  | (0.35) |  | ​ | (0.45) | ​
Tax impact of impairments |  | 0.42 |  |  | 1.87 |  | ​ | 0.02 | ​
Tax rate differential on foreign income |  | 0.29 |  |  | 0.21 |  | ​ | 0.27 | ​
Other |  | 0.80 |  |  | 1.03 |  | ​ | 0.51 | ​
Effective income tax rate |  | 20.62 | % |  | 24.66 | % | ​ | 23.24 | %
Summary of income source | For financial reporting purposes, income before income taxes by source for the year ended December 31 was as follows (in millions):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2024 |  | 2023 |  | 2022
Domestic | ​ | $ | 3,325 | ​ | $ | 2,878 | ​ | $ | 2,779
Foreign | ​ |  | 133 | ​ | ​ | 143 | ​ | ​ | 139
Income before income taxes | ​ | $ | 3,458 | ​ | $ | 3,021 | ​ | $ | 2,918
Components of Net Deferred Tax Assets (Liabilities) | The components of net deferred tax liabilities as of December 31 are as follows (in millions):
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2024 |  | 2023
Deferred tax assets: |  | ​ |  |  | ​ |
Net operating loss, capital loss and tax credit carry-forwards | ​ | $ | 159 | ​ | $ | 137
Landfill and environmental remediation liabilities | ​ |  | 162 | ​ |  | 195
Operating lease liabilities | ​ |  | 276 | ​ |  | 128
Miscellaneous and other reserves, net | ​ |  | 258 | ​ |  | 143
Total deferred tax assets | ​ |  | 855 | ​ |  | 603
Valuation allowance | ​ |  | (199) | ​ |  | (181)
Deferred tax liabilities: | ​ |  |  | ​ |  |
Property and equipment | ​ |  | (1,308) | ​ |  | (1,091)
Goodwill and other intangibles | ​ |  | (1,895) | ​ |  | (1,046)
Operating lease right-of-use assets | ​ |  | (263) | ​ |  | (111)
Net deferred tax liabilities | ​ | $ | (2,810) | ​ | $ | (1,826)
Summary of unrecognized tax benefits | A reconciliation of the beginning and ending amount of gross unrecognized tax benefits, including accrued interest, is as follows (in millions):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2024 |  | 2023 |  | 2022
Balance as of January 1 | ​ | $ | 66 | ​ | $ | 64 | ​ | $ | 64
Additions based on tax positions related to the current year | ​ |  | 4 | ​ |  | 6 | ​ |  | 5
Accrued interest | ​ |  | 2 | ​ |  | 2 | ​ |  | 1
Acquisitions | ​ |  | 2 | ​ |  | — | ​ |  | —
Settlements | ​ |  | (21) | ​ |  | — | ​ |  | —
Lapse of statute of limitations | ​ |  | (10) | ​ |  | (6) | ​ |  | (6)
Balance as of December 31 | ​ | $ | 43 | ​ | $ | 66 | ​ | $ | 64

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: 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 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -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 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 217 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-217 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-15A + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration