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Segment Reporting | 9 Months Ended
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Sep. 30, 2018
Segment Reporting [Abstract] |
Segment Reporting | 11.SEGMENT REPORTING The Company’s revenues are generated from the collection, transfer, recycling and disposal of non-hazardous solid waste and the treatment, recovery and disposal of non-hazardous E&P waste. No single contract or customer accounted for more than 10% of the Company’s total revenues at the consolidated or reportable segment level during the periods presented. The Company manages its operations through five geographic operating segments and its E&P segment, which includes the majority of the Company’s E&P waste treatment and disposal operations. The Company’s five geographic operating segments and its E&P segment comprise the Company’s reportable segments. Each operating segment is responsible for managing several vertically integrated operations, which are comprised of districts. The Company’s Southern segment services customers located in Alabama, Arkansas, Florida, Louisiana, Mississippi, southern Oklahoma, western Tennessee and Texas; the Company’s Western segment services customers located in Alaska, California, Idaho, Montana, Nevada, Oregon, Washington and western Wyoming; the Company’s Eastern segment services customers located in Illinois, Iowa, Kentucky, Maryland, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, eastern Tennessee, Vermont, Virginia and Wisconsin; the Company’s Canada segment services customers located in the state of Michigan and in the provinces of Alberta, British Columbia, Manitoba, Ontario, Québec and Saskatchewan; and the Company’s Central segment services customers located in Arizona, Colorado, Kansas, Minnesota, Missouri, Nebraska, New Mexico, Oklahoma, South Dakota, western Texas, Utah and eastern Wyoming. The E&P segment services E&P customers located in Arkansas, Louisiana, New Mexico, North Dakota, Oklahoma, Texas, Wyoming and along the Gulf of Mexico. The Company’s Chief Operating Decision Maker evaluates operating segment profitability and determines resource allocations based on several factors, of which the primary financial measure is segment EBITDA. The Company defines segment EBITDA as earnings before interest, taxes, depreciation, amortization, impairments and other operating items, other income (expense) and foreign currency transaction gain (loss). Segment EBITDA is not a measure of operating income, operating performance or liquidity under GAAP and may not be comparable to similarly titled measures reported by other companies. The Company’s management uses segment EBITDA in the evaluation of segment operating performance as it is a profit measure that is generally within the control of the operating segments. A reconciliation of segment EBITDA to Income before income tax provision is included at the end of this Note 11. Summarized financial information concerning the Company’s reportable segments for the three and nine months ended September 30, 2018 and 2017, is shown in the following tables:
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Three Months Ended September 30, 2018 |  | Revenue |  | Intercompany Revenue(b) |  | Reported Revenue |  | Segment EBITDA(c)
﻿Southern |  | $ | 321,306 |  | $ | (38,266) |  | $ | 283,040 |  | $ | 70,159
﻿Western |  |  | 303,614 |  |  | (32,596) |  |  | 271,018 |  |  | 86,174
﻿Eastern |  |  | 353,844 |  |  | (64,347) |  |  | 289,497 |  |  | 83,721
﻿Canada |  |  | 211,682 |  |  | (24,628) |  |  | 187,054 |  |  | 68,819
﻿Central |  |  | 213,492 |  |  | (28,221) |  |  | 185,271 |  |  | 70,288
﻿E&P |  |  | 67,348 |  |  | (2,118) |  |  | 65,230 |  |  | 35,099
﻿Corporate(a) |  |  | - |  |  | - |  |  | - |  |  | (8,286)
﻿ |  | $ | 1,471,286 |  | $ | (190,176) |  | $ | 1,281,110 |  | $ | 405,974
﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |
Three Months Ended September 30, 2017 |  | Revenue |  | Intercompany Revenue(b) |  | Reported Revenue |  | Segment EBITDA(c)
﻿Southern |  | $ | 317,059 |  | $ | (36,531) |  | $ | 280,528 |  | $ | 63,171
﻿Western |  |  | 292,222 |  |  | (30,345) |  |  | 261,877 |  |  | 84,861
﻿Eastern |  |  | 292,124 |  |  | (45,857) |  |  | 246,267 |  |  | 74,018
﻿Canada |  |  | 224,166 |  |  | (27,111) |  |  | 197,055 |  |  | 74,369
﻿Central |  |  | 190,210 |  |  | (23,850) |  |  | 166,360 |  |  | 64,607
﻿E&P |  |  | 56,209 |  |  | (1,818) |  |  | 54,391 |  |  | 27,881
﻿Corporate(a) |  |  | - |  |  | - |  |  | - |  |  | (5,751)
﻿ |  | $ | 1,371,990 |  | $ | (165,512) |  | $ | 1,206,478 |  | $ | 383,156
﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |
Nine Months Ended September 30, 2018 |  | Revenue |  | Intercompany Revenue(b) |  | Reported Revenue |  | Segment EBITDA(c)
﻿Southern |  | $ | 951,313 |  | $ | (111,824) |  | $ | 839,489 |  | $ | 207,853
﻿Western |  |  | 874,464 |  |  | (94,584) |  |  | 779,880 |  |  | 240,006
﻿Eastern |  |  | 966,571 |  |  | (164,253) |  |  | 802,318 |  |  | 225,950
﻿Canada |  |  | 615,157 |  |  | (71,290) |  |  | 543,867 |  |  | 195,390
﻿Central |  |  | 591,417 |  |  | (77,337) |  |  | 514,080 |  |  | 191,840
﻿E&P |  |  | 186,734 |  |  | (5,159) |  |  | 181,575 |  |  | 95,009
﻿Corporate(a) |  |  | - |  |  | - |  |  | - |  |  | (14,368)
﻿ |  | $ | 4,185,656 |  | $ | (524,447) |  | $ | 3,661,209 |  | $ | 1,141,680
﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |
Nine Months Ended September 30, 2017 |  | Revenue |  | Intercompany Revenue(b) |  | Reported Revenue |  | Segment EBITDA(c)
﻿Southern |  | $ | 957,506 |  | $ | (111,472) |  | $ | 846,034 |  | $ | 199,280
﻿Western |  |  | 845,176 |  |  | (90,217) |  |  | 754,959 |  |  | 247,475
﻿Eastern |  |  | 851,880 |  |  | (133,578) |  |  | 718,302 |  |  | 209,315
﻿Canada |  |  | 621,995 |  |  | (75,846) |  |  | 546,149 |  |  | 200,283
﻿Central |  |  | 536,803 |  |  | (66,716) |  |  | 470,087 |  |  | 177,975
﻿E&P |  |  | 143,951 |  |  | (6,169) |  |  | 137,782 |  |  | 63,518
﻿Corporate(a) |  |  | - |  |  | - |  |  | - |  |  | (32,535)
﻿ |  | $ | 3,957,311 |  | $ | (483,998) |  | $ | 3,473,313 |  | $ | 1,065,311
____________________ (a)Corporate functions include accounting, legal, tax, treasury, information technology, risk management, human resources, training and other administrative functions. Amounts reflected are net of allocations to the six operating segments. (b)Intercompany revenues reflect each segment’s total intercompany sales, including intercompany sales within a segment and between segments. Transactions within and between segments are generally made on a basis intended to reflect the market value of the service. (c)For those items included in the determination of segment EBITDA, the accounting policies of the segments are the same as those described in the Company’s most recent Annual Report on Form 10-K. ﻿ Total assets for each of the Company’s reportable segments at September 30, 2018 and December 31, 2017, were as follows: ﻿
﻿ |  |  |  |  |  |  |  |  |  |
﻿ |  | September 30, 2018 |  | December 31, 2017 |  |  |
﻿Southern |  | $ | 2,778,123 |  | $ | 2,718,296 |  |  |  |
﻿Western |  |  | 1,583,561 |  |  | 1,573,955 |  |  |  |
﻿Eastern |  |  | 2,348,438 |  |  | 2,024,527 |  |  |  |
﻿Canada |  |  | 2,562,659 |  |  | 2,677,557 |  |  |  |
﻿Central |  |  | 1,452,607 |  |  | 1,297,118 |  |  |  |
﻿E&P |  |  | 974,049 |  |  | 981,980 |  |  |  |
﻿Corporate |  |  | 492,629 |  |  | 741,248 |  |  |  |
﻿Total Assets |  | $ | 12,192,066 |  | $ | 12,014,681 |  |  |  |
﻿ The following tables show changes in goodwill during the nine months ended September 30, 2018 and 2017, by reportable segment: ﻿
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﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  | Southern |  | Western |  | Eastern |  | Canada |  | Central |  | E&P |  |  | Total
﻿Balance as of December 31, 2017 |  | $ | 1,436,320 |  | $ | 397,508 |  | $ | 804,133 |  | $ | 1,575,538 |  | $ | 468,275 |  | $ | - |  | $ | 4,681,774
﻿Goodwill acquired |  |  | 4,800 |  |  | 666 |  |  | 122,136 |  |  | 151 |  |  | 42,197 |  |  | - |  |  | 169,950
﻿Goodwill adjustment for assets held for sale |  |  | 10,194 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 10,194
﻿Impact of changes in foreign currency |  |  | - |  |  | - |  |  | - |  |  | (48,622) |  |  | - |  |  | - |  |  | (48,622)
﻿Balance as of September 30, 2018 |  | $ | 1,451,314 |  | $ | 398,174 |  | $ | 926,269 |  | $ | 1,527,067 |  | $ | 510,472 |  | $ | - |  | $ | 4,813,296
﻿
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﻿ |  | Southern |  | Western |  | Eastern |  | Canada |  | Central |  | E&P |  |  | Total
﻿Balance as of December 31, 2016 |  | $ | 1,470,023 |  | $ | 376,537 |  | $ | 533,160 |  | $ | 1,465,274 |  | $ | 467,924 |  | $ | 77,343 |  | $ | 4,390,261
﻿Goodwill acquired |  |  | 7,484 |  |  | 20,906 |  |  | 272,501 |  |  | 7,127 |  |  | 1,013 |  |  | - |  |  | 309,031
﻿Goodwill divested |  |  | (31,543) |  |  | - |  |  | (4,276) |  |  | - |  |  | (667) |  |  | - |  |  | (36,486)
﻿Impairment loss |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (77,343) |  |  | (77,343)
﻿Goodwill adjustment for assets sold |  |  | 2,205 |  |  | - |  |  | 321 |  |  | - |  |  | - |  |  | - |  |  | 2,526
﻿Goodwill adjustment for assets held for sale |  |  | (11,080) |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (11,080)
﻿Impact of changes in foreign currency |  |  | - |  |  | - |  |  | - |  |  | 111,439 |  |  | - |  |  | - |  |  | 111,439
﻿Balance as of September 30, 2017 |  | $ | 1,437,089 |  | $ | 397,443 |  | $ | 801,706 |  | $ | 1,583,840 |  | $ | 468,270 |  | $ | - |  | $ | 4,688,348
﻿ ﻿ A reconciliation of the Company’s primary measure of segment profitability (segment EBITDA) to Income before income tax provision in the Condensed Consolidated Statements of Net Income is as follows:
﻿ |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  | Three months ended September 30, |  | Nine months ended September 30,
﻿ |  | 2018 |  | 2017 |  | 2018 |  | 2017
﻿Southern segment EBITDA |  | $ | 70,159 |  | $ | 63,171 |  | $ | 207,853 |  | $ | 199,280
﻿Western segment EBITDA |  |  | 86,174 |  |  | 84,861 |  |  | 240,006 |  |  | 247,475
﻿Eastern segment EBITDA |  |  | 83,721 |  |  | 74,018 |  |  | 225,950 |  |  | 209,315
﻿Canada segment EBITDA |  |  | 68,819 |  |  | 74,369 |  |  | 195,390 |  |  | 200,283
﻿Central segment EBITDA |  |  | 70,288 |  |  | 64,607 |  |  | 191,840 |  |  | 177,975
﻿E&P segment EBITDA |  |  | 35,099 |  |  | 27,881 |  |  | 95,009 |  |  | 63,518
﻿Subtotal reportable segments |  |  | 414,260 |  |  | 388,907 |  |  | 1,156,048 |  |  | 1,097,846
﻿Unallocated corporate overhead |  |  | (8,286) |  |  | (5,751) |  |  | (14,368) |  |  | (32,535)
﻿Depreciation |  |  | (148,232) |  |  | (136,941) |  |  | (423,866) |  |  | (395,008)
﻿Amortization of intangibles |  |  | (26,871) |  |  | (26,613) |  |  | (79,444) |  |  | (76,886)
﻿Impairments and other operating items |  |  | 1,998 |  |  | (832) |  |  | (6,106) |  |  | (141,333)
﻿Interest expense |  |  | (32,078) |  |  | (32,471) |  |  | (96,874) |  |  | (92,763)
﻿Interest income |  |  | 1,467 |  |  | 1,656 |  |  | 3,677 |  |  | 3,131
﻿Other income, net |  |  | 732 |  |  | 1,709 |  |  | 2,376 |  |  | 3,561
﻿Foreign currency transaction loss |  |  | (132) |  |  | (1,864) |  |  | (323) |  |  | (3,502)
﻿Income before income tax provision |  | $ | 202,858 |  | $ | 187,800 |  | $ | 541,120 |  | $ | 362,511
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- 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 Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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