v3.26.1
Segment Reporting
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
SEGMENT REPORTING SEGMENT REPORTING
Our senior management evaluates, oversees and manages the financial performance of our operations through three field groups, referred to as Group 1, Group 2 and Group 3. Group 1 is our recycling and waste business operating primarily in geographic areas located in the western United States. Group 2 is our recycling and waste business operating primarily in geographic areas located in the southeastern and mid-western United States, the eastern seaboard of the United States, and Canada. Group 3 is our environmental solutions business operating in geographic areas located across the United States and Canada. These groups are presented below as our reportable segments, which each provide integrated environmental services, including but not limited to collection, transfer, recycling and disposal.
Our chief operating decision maker (CODM) is Jon Vander Ark, President and Chief Executive Officer of Republic Services, Inc. Adjusted EBITDA is the single financial measure our CODM uses to evaluate segment profitability and returns, which informs resource allocation. For all segments, the CODM uses Adjusted EBITDA to evaluate income generated from segment assets (return on invested capital). The CODM considers budget-to-actual variances and year-over-year growth on a monthly basis to assess the performance of each segment. Cost of operations and selling, general and administrative expenses are significant segment expenses used in the evaluation.
Summarized financial information concerning our reportable segments for the three months ended June 30, 2026 and 2025 follows:
Group 1Group 2
Recycling & Waste Subtotal (1)
Group 3
(Environmental Solutions)		Corporate entities and otherTotal
Three Months Ended June 30, 2026
Gross revenue$2,325 $2,180 $4,505 $463 $108 $5,076 
Intercompany revenue(337)(290)(627)(13)(6)(646)
Revenue allocations49 45 94 8 (102)— 
Net revenue2,037 1,935 3,972 458 — 4,430 
Cost of operations1,131 1,132 2,263 300 — 2,563 
Selling, general and administrative199 180 379 65 — 444 
Adjusted EBITDA$707 $623 $1,330 $93 $— $1,423 
Capital expenditures$189 $137 $326 $25 $38 $389 
Total assets$15,154 $11,764 $26,918 $5,320 $2,921 $35,159 
Three Months Ended June 30, 2025
Gross revenue$2,180 $2,138 $4,318 $466 $98 $4,882 
Intercompany revenue(329)(284)(613)(12)(22)(647)
Revenue allocations35 33 68 8 (76)— 
Net revenue1,886 1,887 3,773 462 — 4,235 
Cost of operations1,081 1,083 2,164 285 — 2,449 
Selling, general and administrative185 176 361 64 — 425 
Adjusted EBITDA$620 $628 $1,248 $113 $— $1,361 
Capital expenditures$231 $169 $400 $40 $(33)$407 
Total assets$14,108 $11,429 $25,537 $5,130 $2,730 $33,397 
(1) The Recycling & Waste Subtotal represents the combined results of our Group 1 and Group 2 reportable segments.
Summarized financial information concerning our reportable segments for the six months ended June 30, 2026 and 2025 follows:
Group 1Group 2
Recycling & Waste Subtotal (1)
Group 3
(Environmental Solutions)		Corporate entities and otherTotal
Six Months Ended June 30, 2026
Gross revenue$4,527 $4,175 $8,702 $871 $203 $9,776 
Intercompany revenue(656)(543)(1,199)(22)(11)(1,232)
Revenue allocations94 84 178 14 (192)— 
Net revenue3,965 3,716 7,681 863 — 8,544 
Cost of operations2,199 2,165 4,364 565 — 4,929 
Selling, general and administrative391 352 743 127 — 870 
Adjusted EBITDA$1,375 $1,199 $2,574 $171 $— $2,745 
Capital expenditures$450 $298 $748 $56 $64 $868 
Total assets$15,154 $11,764 $26,918 $5,320 $2,921 $35,159 
Six Months Ended June 30, 2025
Gross revenue$4,243 $4,114 $8,357 $920 $196 $9,473 
Intercompany revenue(632)(533)(1,165)(25)(39)(1,229)
Revenue allocations72 69 141 16 (157)— 
Net revenue3,683 3,650 7,333 911 — 8,244 
Cost of operations2,093 2,099 4,192 571 — 4,763 
Selling, general and administrative372 346 718 134 — 852 
Adjusted EBITDA$1,218 $1,205 $2,423 $206 $— $2,629 
Capital expenditures$409 $284 $693 $77 $96 $866 
Total assets$14,108 $11,429 $25,537 $5,130 $2,730 $33,397 
(1) The Recycling & Waste Subtotal represents the combined results of our Group 1 and Group 2 reportable segments.
Corporate entities and other includes marketing, operations support, business development, legal, tax, treasury, information technology, risk management, human resources and other administrative functions. National Accounts revenue included in Corporate entities and other represents the portion of revenue generated from nationwide and regional contracts in markets outside our operating areas where the associated material handling is subcontracted to local operators. Revenue and overhead costs of Corporate entities and other are either specifically assigned or allocated on a rational and consistent basis among our reportable segments to calculate Adjusted EBITDA. Additionally, intercompany revenue reflects transactions within and between segments.
As presented in the table below, Adjusted EBITDA reflects certain adjustments for loss from unconsolidated equity method investments, restructuring charges, and (gain) loss on business divestitures and impairments, net. This presentation is consistent with how our CODM reviews our results of operations to make resource allocation decisions.
A reconciliation of the Company's single measure of segment profitability (segment Adjusted EBITDA) to income before income taxes in the Consolidated Statements of Income is as follows:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Group 1 Adjusted EBITDA$707 $620 $1,375 $1,218 
Group 2 Adjusted EBITDA623 628 1,199 1,205 
Group 3 Adjusted EBITDA93 113 171 206 
 Total Adjusted EBITDA1,423 1,361 2,745 2,629 
Other income, net(5)(4)(31)(15)
Interest income(2)(2)(5)(4)
Interest expense151 145 302 285 
Depreciation, depletion and amortization488 463 949 897 
Accretion30 28 60 57 
Loss from unconsolidated equity method investment58 2 110 14 
Restructuring charges4 6 6 9 
(Gain) loss on business divestitures and impairments, net— 3 (1)1 
 Income before income taxes$699 $720 $1,355 $1,385