XML 35 R20.htm IDEA: XBRL DOCUMENT
v3.25.2

SEGMENT REPORTING | 6 Months Ended
--- | ---
Jun. 30, 2025
Segment Reporting [Abstract] |
SEGMENT REPORTING | SEGMENT REPORTING We report selected information about our reportable operating segments in a manner consistent with that used for internal management reporting. We classify our solid waste operations on a geographic basis through three regional operating segments, our Eastern, Western and Mid-Atlantic regions. In the six months ended June 30, 2025, we moved certain operations between our regional operating segments to align geographically, including a landfill that we own from the Western region to the Mid-Atlantic region and a collection and transfer station operation from our Western region to our Eastern region. Certain prior period amounts have been reclassified between regional operating segments to conform to the current period presentation. Revenues associated with our solid waste operations are derived mainly from solid waste collection and disposal services, including landfill, transfer station and transportation services, landfill gas-to-energy services, and processing services in the eastern United States. Our Resource Solutions operating segment leverages our core competencies in materials processing, industrial recycling, organics and resource management service offerings to deliver a comprehensive solution for our larger commercial, municipal, institutional and industrial customers that have more diverse waste and recycling needs. Revenues associated with our Resource Solutions operations are comprised of processing services and our National Accounts business. Revenues from processing services are derived from customers in the form of processing fees, tipping fees, commodity sales, and organic material sales. Revenues from our National Accounts business are derived from brokerage services and overall resource management services providing a wide range of environmental services and resource management solutions to large and complex organizations, as well as traditional collection, disposal and recycling services provided to large account multi-site customers. Legal, tax, information technology, human resources, certain finance and accounting and other administrative functions are included in our Corporate Entities segment, which is not a reportable operating segment. Operating income (loss) by segment reported in the three and six months ended June 30, 2024 has been updated to conform with the presentation for the three and six months ended June 30, 2025, which includes the movement of certain operations described above and does not have Corporate Entities costs allocated to our reportable operating segments. See Note 5, Goodwill and Intangible Assets for the breakout of goodwill by reportable operating segment. The accounting policies of our reportable operating segments are the same as those described in Item 8. “Financial Statements and Supplementary Data” of our 2024 Form 10-K. Our President is our chief operating decision maker (“CODM”). Our CODM uses operating income in evaluating reportable operating segment performance in order to properly allocate resources and make key operating decisions. Intercompany revenues and expenses are eliminated in the computation of consolidated gross revenues and operating income. The CODM uses operating income for each reportable operating segment in the annual budget and forecasting process and considers budget-to-actual and forecast-to-actual variances on a monthly basis when making decisions about the allocation of operating and capital resources to each reportable operating segment. Summarized financial information concerning our reportable segments for the three and six months ended June 30, 2025 and 2024 follows: Three Months Ended June 30, 2025
| Eastern |  | Western |  | Mid-Atlantic |  | Solid Waste Subtotal |  | Resource Solutions |  | Corporate Entities |  | Eliminations |  | Consolidated |
Third-party revenues | $ | 120,924 |  |  | $ | 170,134 |  |  | $ | 82,566 |  |  | $ | 373,624 |  |  | $ | 91,710 |  |  | $ | — |  |  | $ | — |  |  | $ | 465,334 |  |
Intercompany revenues | 30,583 |  |  | 58,963 |  |  | 3,445 |  |  | 92,991 |  |  | 4,130 |  |  | — |  |  | (97,121) |  |  | — |  |
Gross revenues | 151,507 |  |  | 229,097 |  |  | 86,011 |  |  | 466,615 |  |  | 95,840 |  |  | — |  |  | (97,121) |  |  | 465,334 |  |
Cost of operations | 107,942 |  |  | 155,002 |  |  | 65,546 |  |  | 328,490 |  |  | 76,286 |  |  | 415 |  |  | (97,121) |  |  | 308,070 |  |
General and administration | 5,718 |  |  | 9,008 |  |  | 5,728 |  |  | 20,454 |  |  | 5,576 |  |  | 28,493 |  |  | — |  |  | 54,523 |  |
Depreciation and amortization | 17,816 |  |  | 32,761 |  |  | 19,435 |  |  | 70,012 |  |  | 5,358 |  |  | 1,636 |  |  | — |  |  | 77,006 |  |
Expense from acquisition activities | 165 |  |  | 608 |  |  | 2,862 |  |  | 3,635 |  |  | 33 |  |  | 2,795 |  |  | — |  |  | 6,463 |  |
Operating income (loss) | $ | 19,866 |  |  | $ | 31,718 |  |  | $ | (7,560) |  |  | $ | 44,024 |  |  | $ | 8,587 |  |  | $ | (33,339) |  |  | $ | — |  |  | 19,272 |  |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 13,000 |  |
Other income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (615) |  |
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 6,887 |  |
Interest expense, net | $ | 306 |  |  | $ | 220 |  |  | $ | 45 |  |  | $ | 571 |  |  | $ | 27 |  |  | $ | 12,402 |  |  | $ | — |  |  | $ | 13,000 |  |
Capital expenditures | $ | 18,820 |  |  | $ | 24,245 |  |  | $ | 17,652 |  |  | $ | 60,717 |  |  | $ | 2,348 |  |  | $ | 3,338 |  |  | $ | — |  |  | $ | 66,403 |  |
Total assets | $ | 552,443 |  |  | $ | 1,147,974 |  |  | $ | 979,157 |  |  | $ | 2,679,574 |  |  | $ | 282,951 |  |  | $ | 294,386 |  |  | $ | — |  |  | $ | 3,256,911 |  |
Three Months Ended June 30, 2024
| Eastern |  | Western |  | Mid-Atlantic |  | Solid Waste Subtotal |  | Resource Solutions |  | Corporate Entities |  | Eliminations |  | Consolidated
Third-party revenues | $ | 113,533 |  |  | $ | 137,312 |  |  | $ | 43,100 |  |  | $ | 293,945 |  |  | $ | 83,218 |  |  | $ | — |  |  | $ | — |  |  | $ | 377,163 |
Intercompany revenues | 28,322 |  |  | 51,203 |  |  | 683 |  |  | 80,208 |  |  | 2,835 |  |  | — |  |  | (83,043) |  |  | — |
Gross revenues | 141,855 |  |  | 188,515 |  |  | 43,783 |  |  | 374,153 |  |  | 86,053 |  |  | — |  |  | (83,043) |  |  | 377,163 |
Cost of operations | 100,596 |  |  | 126,223 |  |  | 30,794 |  |  | 257,613 |  |  | 69,026 |  |  | 191 |  |  | (83,043) |  |  | 243,787 |
General and administration | 6,575 |  |  | 7,979 |  |  | 1,915 |  |  | 16,469 |  |  | 4,861 |  |  | 25,854 |  |  | — |  |  | 47,184 |
Depreciation and amortization | 14,986 |  |  | 24,279 |  |  | 10,551 |  |  | 49,816 |  |  | 4,540 |  |  | 982 |  |  | — |  |  | 55,338 |
Expense from acquisition activities | 26 |  |  | 89 |  |  | 6,062 |  |  | 6,177 |  |  | 36 |  |  | 1,623 |  |  | — |  |  | 7,836 |
Operating income (loss) | $ | 19,672 |  |  | $ | 29,945 |  |  | $ | (5,539) |  |  | $ | 44,078 |  |  | $ | 7,590 |  |  | $ | (28,650) |  |  | $ | — |  |  | 23,018 |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 12,697 |
Other income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (477) |
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 10,798 |
Interest expense, net | $ | 217 |  |  | $ | 145 |  |  | $ | (8) |  |  | $ | 354 |  |  | $ | 35 |  |  | $ | 12,308 |  |  | $ | — |  |  | $ | 12,697 |
Capital expenditures | $ | 9,433 |  |  | $ | 22,051 |  |  | $ | 6,144 |  |  | $ | 37,628 |  |  | $ | 4,354 |  |  | $ | 2,667 |  |  | $ | — |  |  | $ | 44,649 |
Total assets | $ | 473,975 |  |  | $ | 928,955 |  |  | $ | 565,809 |  |  | $ | 1,968,739 |  |  | $ | 252,364 |  |  | $ | 290,762 |  |  | $ | — |  |  | $ | 2,511,865 |
Six Months Ended June 30, 2025
| Eastern |  | Western |  | Mid-Atlantic |  | Solid Waste Subtotal |  | Resource Solutions |  | Corporate Entities |  | Eliminations |  | Consolidated |
Third-party revenues | $ | 225,664 |  |  | $ | 322,451 |  |  | $ | 160,413 |  |  | $ | 708,528 |  |  | $ | 173,907 |  |  | $ | — |  |  | $ | — |  |  | $ | 882,435 |  |
Intercompany revenues | 55,157 |  |  | 110,774 |  |  | 5,258 |  |  | 171,189 |  |  | 7,606 |  |  | — |  |  | (178,795) |  |  | — |  |
Gross revenues | 280,821 |  |  | 433,225 |  |  | 165,671 |  |  | 879,717 |  |  | 181,513 |  |  | — |  |  | (178,795) |  |  | 882,435 |  |
Cost of operations | 201,882 |  |  | 293,497 |  |  | 124,718 |  |  | 620,097 |  |  | 146,319 |  |  | 900 |  |  | (178,795) |  |  | 588,521 |  |
General and administration | 11,771 |  |  | 18,177 |  |  | 9,728 |  |  | 39,676 |  |  | 10,117 |  |  | 61,216 |  |  | — |  |  | 111,009 |  |
Depreciation and amortization | 33,925 |  |  | 63,121 |  |  | 37,696 |  |  | 134,742 |  |  | 10,491 |  |  | 3,264 |  |  | — |  |  | 148,497 |  |
Expense from acquisition activities | 560 |  |  | 1,452 |  |  | 5,276 |  |  | 7,288 |  |  | 1,024 |  |  | 3,680 |  |  | — |  |  | 11,992 |  |
Operating income (loss) | $ | 32,683 |  |  | $ | 56,978 |  |  | $ | (11,747) |  |  | $ | 77,914 |  |  | $ | 13,562 |  |  | $ | (69,060) |  |  | $ | — |  |  | 22,416 |  |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 24,598 |  |
Other income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (933) |  |
Loss before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (1,249) |  |
Interest expense, net | $ | 532 |  |  | $ | 441 |  |  | $ | 100 |  |  | $ | 1,073 |  |  | $ | 53 |  |  | $ | 23,472 |  |  | $ | — |  |  | $ | 24,598 |  |
Capital expenditures | $ | 26,923 |  |  | $ | 39,445 |  |  | $ | 43,285 |  |  | $ | 109,653 |  |  | $ | 6,419 |  |  | $ | 5,806 |  |  | $ | — |  |  | $ | 121,878 |  |
Total assets | $ | 552,443 |  |  | $ | 1,147,974 |  |  | $ | 979,157 |  |  | $ | 2,679,574 |  |  | $ | 282,951 |  |  | $ | 294,386 |  |  | $ | — |  |  | $ | 3,256,911 |  |
Six Months Ended June 30, 2024
| Eastern |  | Western |  | Mid-Atlantic |  | Solid Waste Subtotal |  | Resource Solutions |  | Corporate Entities |  | Eliminations |  | Consolidated
Third-party revenues | $ | 213,723 |  |  | $ | 260,956 |  |  | $ | 85,202 |  |  | $ | 559,881 |  |  | $ | 158,289 |  |  | $ | — |  |  | $ | — |  |  | $ | 718,170 |
Intercompany revenues | 52,611 |  |  | 95,570 |  |  | 1,164 |  |  | 149,345 |  |  | 5,958 |  |  | — |  |  | (155,303) |  |  | — |
Gross revenues | 266,334 |  |  | 356,526 |  |  | 86,366 |  |  | 709,226 |  |  | 164,247 |  |  | — |  |  | (155,303) |  |  | 718,170 |
Cost of operations | 193,094 |  |  | 241,916 |  |  | 61,161 |  |  | 496,171 |  |  | 133,295 |  |  | 415 |  |  | (155,303) |  |  | 474,578 |
General and administration | 12,734 |  |  | 15,950 |  |  | 4,261 |  |  | 32,945 |  |  | 9,521 |  |  | 49,051 |  |  | — |  |  | 91,517 |
Depreciation and amortization | 29,397 |  |  | 47,570 |  |  | 21,116 |  |  | 98,083 |  |  | 9,333 |  |  | 1,959 |  |  | — |  |  | 109,375 |
Expense from acquisition activities | 245 |  |  | 662 |  |  | 9,066 |  |  | 9,973 |  |  | 61 |  |  | 2,813 |  |  | — |  |  | 12,847 |
Operating income (loss) | $ | 30,864 |  |  | $ | 50,428 |  |  | $ | (9,238) |  |  | $ | 72,054 |  |  | $ | 12,037 |  |  | $ | (54,238) |  |  | $ | — |  |  | 29,853 |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 25,767 |
Other income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (828) |
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 4,914 |
Interest expense, net | $ | 418 |  |  | $ | 358 |  |  | $ | (7) |  |  | $ | 769 |  |  | $ | 64 |  |  | $ | 24,934 |  |  | $ | — |  |  | $ | 25,767 |
Capital expenditures | $ | 16,474 |  |  | $ | 33,729 |  |  | $ | 10,581 |  |  | $ | 60,784 |  |  | $ | 10,067 |  |  | $ | 4,049 |  |  | $ | — |  |  | $ | 74,900 |
Total assets | $ | 473,975 |  |  | $ | 928,955 |  |  | $ | 565,809 |  |  | $ | 1,968,739 |  |  | $ | 252,364 |  |  | $ | 290,762 |  |  | $ | — |  |  | $ | 2,511,865 |
A summary of our revenues attributable to services provided follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Collection | $ | 297,905 |  |  | $ | 223,959 |  |  | $ | 574,368 |  |  | $ | 435,318 |
Disposal | 71,579 |  |  | 65,123 |  |  | 125,276 |  |  | 115,262 |
Landfill gas-to-energy | 1,556 |  |  | 1,983 |  |  | 4,321 |  |  | 4,493 |
Processing | 2,584 |  |  | 2,880 |  |  | 4,563 |  |  | 4,808 |
Solid waste | 373,624 |  |  | 293,945 |  |  | 708,528 |  |  | 559,881 |
Processing | 36,466 |  |  | 33,275 |  |  | 68,435 |  |  | 63,038 |
National Accounts | 55,244 |  |  | 49,943 |  |  | 105,472 |  |  | 95,251 |
Resource Solutions | 91,710 |  |  | 83,218 |  |  | 173,907 |  |  | 158,289 |
Total revenues | $ | 465,334 |  |  | $ | 377,163 |  |  | $ | 882,435 |  |  | $ | 718,170 |

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

X
- 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/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-15 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-42 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 9: 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 10: 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 11: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 12: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 13: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 14: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 15: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 16: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 17: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-34 Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/280/tableOfContent Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26 Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration