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v3.23.3

Segment Reporting (Tables) | 9 Months Ended
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Sep. 30, 2023
Segment Reporting [Abstract] |
Summarized financial information concerning reportable segments | Summarized financial information concerning our reportable segments for the three months ended September 30, 2023 and 2022 follows:
| Group 1 |  | Group 2 |  | Recycling & Solid Waste Subtotal |  | Group 3 (Environmental Solutions) |  | Corporate entities and other |  | Total
Three Months Ended September 30, 2023
Gross Revenue | $ | 2,000.3 |  |  | $ | 1,927.0 |  |  | $ | 3,927.3 |  |  | $ | 425.2 |  |  | $ | 61.7 |  |  | $ | 4,414.2 |
Intercompany Revenue | (294.6) |  |  | (261.2) |  |  | (555.8) |  |  | (15.3) |  |  | (17.2) |  |  | (588.3) |
Revenue allocations | 25.7 |  |  | 23.9 |  |  | 49.6 |  |  | (5.1) |  |  | (44.5) |  |  | — |
Net Revenue | $ | 1,731.4 |  |  | $ | 1,689.7 |  |  | $ | 3,421.1 |  |  | $ | 404.8 |  |  | $ | — |  |  | $ | 3,825.9 |
Adjusted EBITDA | $ | 553.8 |  |  | $ | 500.2 |  |  | $ | 1,054.0 |  |  | $ | 91.7 |  |  | $ | — |  |  | $ | 1,145.7 |
Capital Expenditures | $ | 165.4 |  |  | $ | 140.7 |  |  | $ | 306.1 |  |  | $ | 25.2 |  |  | $ | 37.7 |  |  | $ | 369.0 |
Total Assets | $ | 13,112.7 |  |  | $ | 10,838.5 |  |  | $ | 23,951.3 |  |  | $ | 4,011.0 |  |  | $ | 2,080.6 |  |  | $ | 30,042.8 |
Three Months Ended September 30, 2022
Gross Revenue | $ | 1,840.6 |  |  | $ | 1,837.4 |  |  | $ | 3,678.0 |  |  | $ | 411.0 |  |  | $ | 64.3 |  |  | $ | 4,153.3 |
Intercompany Revenue | (281.3) |  |  | (246.7) |  |  | (528.0) |  |  | (11.3) |  |  | (16.2) |  |  | (555.5) |
Revenue allocations | 25.8 |  |  | 24.8 |  |  | 50.6 |  |  | (2.5) |  |  | (48.1) |  |  | — |
Net Revenue | $ | 1,585.1 |  |  | $ | 1,615.5 |  |  | $ | 3,200.6 |  |  | $ | 397.2 |  |  | $ | — |  |  | $ | 3,597.8 |
Adjusted EBITDA | $ | 510.6 |  |  | $ | 466.1 |  |  | $ | 976.7 |  |  | $ | 74.6 |  |  | $ | — |  |  | $ | 1,051.3 |
Capital Expenditures | $ | 133.5 |  |  | $ | 115.1 |  |  | $ | 248.6 |  |  | $ | 29.2 |  |  | $ | (0.3) |  |  | $ | 277.5 |
Total Assets | $ | 12,232.0 |  |  | $ | 10,303.0 |  |  | $ | 22,535.0 |  |  | $ | 3,991.7 |  |  | $ | 1,874.3 |  |  | $ | 28,401.0 |
Summarized financial information concerning our reportable segments for the nine months ended September 30, 2023 and 2022 follows:
| Group 1 |  | Group 2 |  | Recycling & Solid Waste Subtotal |  | Group 3 (Environmental Solutions) |  | Corporate entities and other |  | Total
Nine Months Ended September 30, 2023
Gross Revenue | $ | 5,774.3 |  |  | $ | 5,653.2 |  |  | $ | 11,427.5 |  |  | $ | 1,280.4 |  |  | $ | 174.8 |  |  | $ | 12,882.7 |
Intercompany Revenue | (881.1) |  |  | (763.5) |  |  | (1,644.6) |  |  | (47.3) |  |  | (57.9) |  |  | (1,749.8) |
Revenue allocations | 71.0 |  |  | 67.6 |  |  | 138.6 |  |  | (21.7) |  |  | (116.9) |  |  | — |
Net Revenue | $ | 4,964.2 |  |  | $ | 4,957.3 |  |  | $ | 9,921.5 |  |  | $ | 1,211.4 |  |  | $ | — |  |  | $ | 11,132.9 |
Adjusted EBITDA | $ | 1,570.4 |  |  | $ | 1,464.5 |  |  | $ | 3,034.9 |  |  | $ | 267.0 |  |  | $ | — |  |  | $ | 3,301.9 |
Capital Expenditures | $ | 422.0 |  |  | $ | 384.8 |  |  | $ | 806.8 |  |  | $ | 66.4 |  |  | $ | 210.0 |  |  | $ | 1,083.2 |
Total Assets | $ | 13,112.7 |  |  | $ | 10,838.5 |  |  | $ | 23,951.3 |  |  | $ | 4,011.0 |  |  | $ | 2,080.6 |  |  | $ | 30,042.8 |
Nine Months Ended September 30, 2022
Gross Revenue | $ | 5,306.1 |  |  | $ | 5,261.3 |  |  | $ | 10,567.4 |  |  | $ | 827.8 |  |  | $ | 181.7 |  |  | $ | 11,576.9 |
Intercompany Revenue | (815.2) |  |  | (712.9) |  |  | (1,528.1) |  |  | (32.8) |  |  | (34.5) |  |  | (1,595.4) |
Revenue allocations | 77.4 |  |  | 74.1 |  |  | 151.5 |  |  | (4.3) |  |  | (147.2) |  |  | — |
Net Revenue | $ | 4,568.3 |  |  | $ | 4,622.5 |  |  | $ | 9,190.8 |  |  | $ | 790.7 |  |  | $ | — |  |  | $ | 9,981.5 |
Adjusted EBITDA | $ | 1,491.3 |  |  | $ | 1,333.9 |  |  | $ | 2,825.2 |  |  | $ | 139.1 |  |  | $ | — |  |  | $ | 2,964.3 |
Capital Expenditures | $ | 376.5 |  |  | $ | 329.2 |  |  | $ | 705.7 |  |  | $ | 80.4 |  |  | $ | 138.7 |  |  | $ | 924.8 |
Total Assets | $ | 12,232.0 |  |  | $ | 10,303.0 |  |  | $ | 22,535.0 |  |  | $ | 3,991.7 |  |  | $ | 1,874.3 |  |  | $ | 28,401.0 |
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:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Group 1 Adjusted EBITDA | $ | 553.8 |  |  | $ | 510.6 |  |  | $ | 1,570.4 |  |  | $ | 1,491.3 |
Group 2 Adjusted EBITDA | 500.2 |  |  | 466.1 |  |  | 1,464.5 |  |  | 1,333.9 |
Group 3 Adjusted EBITDA | 91.7 |  |  | 74.6 |  |  | 267.0 |  |  | 139.1 |
Total Adjusted EBITDA | 1,145.7 |  |  | 1,051.3 |  |  | 3,301.9 |  |  | 2,964.3 |
Other (income) expense, net | (1.3) |  |  | 0.3 |  |  | (3.2) |  |  | 6.5 |
Interest income | (2.0) |  |  | (0.8) |  |  | (5.0) |  |  | (2.0) |
Interest expense | 127.6 |  |  | 105.2 |  |  | 378.8 |  |  | 282.7 |
Depreciation, amortization and depletion | 382.3 |  |  | 353.9 |  |  | 1,099.4 |  | 1,001.8 |
Accretion | 24.6 |  |  | 22.8 |  |  | 73.2 |  |  | 66.9 |
(Income) loss from unconsolidated equity method investment | (2.8) |  |  | 51.8 |  |  | (0.2) |  |  | 69.2 |
Loss on extinguishment of debt and other related costs | — |  |  | — |  |  | 0.2 |  |  | — |
Restructuring charges | 6.3 |  |  | 6.8 |  |  | 27.3 |  |  | 18.8 |
Adjustment to withdrawal liability for a multiemployer pension fund | — |  |  | — |  |  | — |  |  | 2.2 |
US Ecology, Inc. acquisition integration and deal costs | 6.2 |  |  | 8.7 |  |  | 24.3 |  |  | 65.4 |
Gain on business divestitures and impairments, net | (1.5) |  |  | (5.2) |  |  | (1.5) |  |  | (5.3) |
Income before income taxes | $ | 606.3 |  |  | $ | 507.8 |  |  | $ | 1,708.6 |  |  | $ | 1,458.1 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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