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Share Repurchases, Dividends and Earnings per Share
 9 Months Ended
Sep. 30, 2025
Equity [Abstract]  
SHARE REPURCHASES, DIVIDENDS AND EARNINGS PER SHARE SHARE REPURCHASES, DIVIDENDS AND EARNINGS PER SHARE
Available Shares
We currently have approximately 10 million shares of common stock reserved for future grants under the Republic Services, Inc. 2021 Stock Incentive Plan.
Share Repurchases
In October 2023, our Board of Directors approved a $3.0 billion share repurchase authorization effective 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. On a quarterly basis, our Board of Directors reviews the parameters around which we repurchase our shares. The share repurchase program may be extended, suspended or discontinued at any time.
Share repurchase activity during the three and nine months ended September 30, 2025 and 2024 follows (in millions, except per share amounts):
Three Months Ended September 30,
Nine Months Ended September 30,
 2025202420252024
Number of shares repurchased2.3 0.8 2.6 1.7 
Amount paid
$539 $153 $594 $321 
Weighted average cost per share$232.00 $194.14 $228.81 $189.93 
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 September 30, 2025, there were no repurchased shares pending settlement. As of September 30, 2024, there were less than 0.1 million repurchased shares pending settlement, resulting in an associated $9 million of share repurchases unpaid and included within other accrued liabilities. As of September 30, 2025, the remaining authorized purchase capacity under our October 2023 repurchase program was $1.9 billion.
Dividends
In July 2025, our Board of Directors approved a quarterly dividend of $0.625 per share. Cash dividends declared were $557 million for the nine months ended September 30, 2025. As of September 30, 2025, we recorded a quarterly dividend payable of $194 million to shareholders of record at the close of business on October 2, 2025.
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 restricted stock units and performance stock units) 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 unvested restricted stock units (RSUs) and the unvested performance stock units (PSUs) at the expected attainment levels. We use the treasury stock method in computing diluted earnings per share.
Earnings per share for the three and nine months ended September 30, 2025 and 2024 are calculated as follows (in thousands, except per share amounts):
Three Months Ended September 30,
Nine Months Ended September 30,
 2025202420252024
Basic earnings per share:
Net income attributable to Republic Services, Inc.$549,672 $565,669 $1,594,573 $1,530,999 
Weighted average common shares outstanding311,729 314,002 312,590 314,735 
Basic earnings per share$1.76 $1.80 $5.10 $4.86 
Diluted earnings per share:
Net income attributable to Republic Services, Inc.$549,672 $565,669 $1,594,573 $1,530,999 
Weighted average common shares outstanding311,729 314,002 312,590 314,735 
Effect of dilutive securities:
Unvested RSU awards86 130 99 123 
Unvested PSU awards
196 239 195 291 
Weighted average common and common equivalent shares outstanding
312,011 314,371 312,884 315,149 
Diluted earnings per share$1.76 $1.80 $5.10 $4.86 
During the three and nine months ended September 30, 2025, there were less than 0.1 million antidilutive securities outstanding. During the three and nine months ended September 30, 2024, there were no antidilutive securities outstanding.