7Baggers

GFL Environmental Inc
(NYSE:GFL) 

GFL stock logo

GFL Environmental Inc. operates as a diversified environmental services company in Canada and the United States. The company offers non-hazardous solid waste management, infrastructure and soil remediation, and liquid waste management services. Its solid waste management business line includes the c...

Founded: 2007
Full Time Employees: 13,000
CEO: Patrick Dovigi  
Sector: Industrials
Industry: Waste Management
Waste ManagementIndustrialsCanadian
Share this website to your friends
• Market Cap:
• Exchange:
• Shs Outstanding:
• Employees:
• Beta:
• Return on Equity (ROE) ttm:
• Return on Assets (ROA) ttm:
• EPS ttm:
• Book value per Share:
• Cash per Share:
• Current ast per Share:
• P/E ttm:
• P/E forward:
• P/E ttm high:
• P/E ttm low:
• P/S ttm:
• P/B ttm:
• P/FCF ttm:
• PEG ratio:
• Cash Ratio ttm:
• Quick Ratio ttm:
• Current Ratio ttm:
• Gross Mgn ttm:
• EBITDA Mgn ttm:
• Operating Mgn ttm:
• Net Income Mgn ttm:
• Trailing Div yield:
• Forward Div yield:
• Payout Ratio ttm:
• Ex-Dividend date:
• Target Price High:
• Target Price Low:
• Target Price Mean:
• Number of Analysts:
• Debt Ratio ttm:
• Debt to Equity ttm:
• Total Net Debt:
At a glance:
  • North America's Third-Largest Diversified Environmental Services Provider: GFL Environmental offers a comprehensive range of solid waste, liquid waste, and infrastructure & soil remediation services across Canada and select U.S. markets, serving a broad customer base.
  • Growth Driven by Strategic Acquisitions and Operational Efficiency: The company has a history of rapid expansion through M&A, consolidating the fragmented environmental services industry. Recent efforts focus on integrating these acquisitions, optimizing operations, and realizing synergies to enhance profitability.
  • Improving Financial Performance with Focus on Deleveraging: GFL has demonstrated consistent revenue growth and improving EBITDA margins. While historically carrying significant debt from its growth strategy, the company is actively working to reduce its leverage ratio through free cash flow generation and strategic asset sales.
  • Commitment to Sustainability and Circular Economy Initiatives: GFL emphasizes its role in the circular economy, investing in advanced recycling facilities, renewable natural gas projects, and other sustainable practices to reduce environmental impact and meet evolving ESG demands.
Bull Thesis:
  • Strategic Acquisition-Led Growth: GFL has a proven track record of executing accretive acquisitions in a fragmented waste management market. This strategy allows them to expand their geographic footprint, increase market share, and realize operational synergies, driving consistent revenue and EBITDA growth.
  • Resilient and Essential Service Demand: Waste management is a non-discretionary service, providing stable and predictable revenue streams regardless of economic cycles. This inherent demand resilience offers a defensive characteristic to GFL's business model, ensuring consistent cash flow generation.
  • Strong Pricing Power and Inflation Pass-Through: The waste management industry generally possesses strong pricing power, allowing companies like GFL to pass through increased operating costs (such as fuel, labor, and landfill fees) to customers through contractual adjustments and surcharges, helping to protect margins during inflationary periods.
  • Focus on Sustainability and Renewable Energy Initiatives: GFL is investing in sustainability initiatives, including renewable natural gas (RNG) projects at landfills and advanced recycling facilities. These investments not only align with growing ESG demands but also create new revenue streams and enhance the long-term value proposition of their assets.
Bear Thesis:
  • High Leverage and Interest Rate Sensitivity: GFL carries a significant debt load, making it highly sensitive to fluctuations in interest rates. Rising rates can substantially increase debt servicing costs, putting pressure on free cash flow generation and potentially limiting capital available for growth or deleveraging.
  • Integration Risks from Rapid Acquisition Pace: While acquisitions are a key growth driver, the rapid pace and sheer volume of GFL's M&A activity introduce integration risks. Challenges in harmonizing operations, IT systems, and corporate cultures across numerous acquired entities can lead to inefficiencies, unexpected costs, or failure to realize anticipated synergies.
  • Labor Shortages and Wage Inflation Pressures: The waste management industry is labor-intensive, particularly reliant on drivers and operational staff. Persistent labor shortages and increasing wage demands can lead to higher operating costs, pressure on margins, and potential disruptions to service delivery if staffing levels are insufficient.
  • Commodity Price Volatility in Recycling Operations: A portion of GFL's revenue and profitability is derived from its recycling operations, which are exposed to the volatile prices of recycled commodities (e.g., paper, plastics, metals). Downturns in commodity markets can negatively impact recycling revenue and overall company profitability.
Main Competitors:
  • Waste Management (WM) ($WM) (Comprehensive waste management services), The largest waste management company in North America, Waste Management competes directly with GFL across a wide range of services including solid waste collection, transfer, disposal, and recycling in many U.S. markets where GFL operates. They leverage their vast network of assets, established infrastructure, and strong brand recognition.
  • Republic Services (RSG) ($RSG) (Solid waste collection, recycling, and disposal), As the second-largest waste management company in the U.S., Republic Services is a direct competitor to GFL, vying for commercial, industrial, and residential contracts, as well as landfill and recycling operations in various U.S. regions. They compete on service reliability, pricing, and extensive operational footprint.
  • Waste Connections (WCN) ($WCN) (Solid waste collection, transfer, disposal, and recycling), Waste Connections is a significant competitor, particularly strong in secondary markets and rural areas across North America, and has a substantial presence in Canada. They directly compete with GFL for market share in its home country across all core waste management services, often focusing on operational efficiency and customer service.
  • Clean Harbors (CLH) ($CLH) (Environmental, industrial, and energy services; hazardous waste management), While not a direct competitor for residential solid waste, Clean Harbors competes with GFL in the industrial and liquid waste management segments, as well as environmental remediation, emergency response, and infrastructure services. They compete by offering specialized expertise, advanced technologies, and extensive hazardous waste infrastructure.
Moat:
GFL Environmental operates in a highly competitive and capital-intensive industry. Its moat is primarily built on its integrated service model (owning collection, transfer, and disposal assets like landfills), which provides cost control and operational efficiency. GFL has also grown significantly through strategic acquisitions, building density in specific regions and diversifying its service offerings across solid waste, liquid waste, and infrastructure services. This scale and regional density create significant barriers to entry for new competitors due to high capital requirements, extensive permitting processes, and the need for a robust logistical network. Competition is fierce, primarily from larger, well-established national players like Waste Management, Republic Services, and Waste Connections, as well as specialized firms like Clean Harbors for industrial services, and numerous smaller regional and local operators. Competition often revolves around pricing, service quality, reliability, and the ability to offer comprehensive, integrated solutions to customers.
Income Statements:
Quarterly
Annual
    Unit: USD2025-11-05 2025-09-30 2025-07-30 2025-06-30 2025-04-30 2025-03-31 2025-02-24 2024-11-06 2024-09-30 2024-06-30 2024-06-01 2024-05-01 2024-03-31 2024-02-20 2023-11-01 2023-09-30 2023-07-26 2023-06-30 2023-04-27 2023-03-31 2023-02-21 2022-11-02 2022-09-30 2022-07-27 2022-06-30 2022-05-04 2022-03-31 2022-02-09 2021-11-03 2021-09-30 2021-07-28 2021-06-30 2021-05-06 2021-05-05 2021-02-22 2020-12-31 2020-11-04 2020-09-30 2020-08-05 2020-06-30 
                                            
      revenue
    		1,694,200,000 1,694,200,000 1,675,200,000 1,675,200,000 1,560,100,000 1,560,100,000 1,985,900,000 2,014,700,000 2,014,700,000 2,060,000,000 2,060,000,000 1,801,400,000 1,801,400,000 1,882,800,000 1,890,000,000 1,890,000,000 1,943,600,000 1,943,600,000 1,799,100,000 1,799,100,000 1,821,200,000 1,831,200,000 1,831,200,000 1,707,500,000 1,707,500,000 1,401,400,000 1,401,400,000 1,539,500,000 1,485,100,000 1,485,100,000 1,314,300,000 1,314,300,000 1,186,600,000 1,186,600,000 1,235,600,000 1,235,600,000 1,036,000,000 1,036,000,000 993,300,000 993,300,000 
      yoy
    		8.60% 8.60% -15.65% -16.85% -22.56% -24.27% -3.60% 11.84% 11.84% 9.41% 8.99% -4.69% -7.32% -3.13% 5.05% 5.05% 6.72% 6.14% -1.75% 5.36% 6.66% 30.67% 30.67% 10.91% 14.98% -5.64% 6.63% 17.13% 25.16% 25.16% 6.37% 6.37% 14.54% 14.54% 24.39% 24.39%     
      qoq
    		0.00% 1.13% 0.00% 7.38% 0.00% -21.44% -1.43% 0.00% -2.20% 0.00% 14.36% 0.00% -4.32% -0.38% 0.00% -2.76% 0.00% 8.03% 0.00% -1.21% -0.55% 0.00% 7.24% 0.00% 21.84% 0.00% -8.97% 3.66% 0.00% 13.00% 0.00% 10.76% 0.00% -3.97% 0.00% 19.27% 0.00% 4.30% 0.00%  
      expenses
    		                                        
      cost of sales
    		1,324,000,000 1,324,000,000 1,303,200,000 1,303,200,000 1,272,600,000 1,272,600,000 1,606,400,000 1,604,500,000 1,604,500,000 1,661,200,000 1,661,200,000 1,504,200,000 1,504,200,000 1,574,100,000 1,526,800,000 1,526,800,000 1,590,600,000 1,590,600,000 1,554,600,000 1,554,600,000 1,624,200,000 1,591,900,000 1,591,900,000 1,482,000,000 1,482,000,000 1,265,600,000 1,265,600,000 1,431,600,000 1,292,300,000 1,292,300,000 1,187,300,000 1,187,300,000 1,086,700,000 1,086,700,000 1,363,000,000 1,363,000,000 909,500,000 909,500,000 881,300,000 881,300,000 
      selling, general and administrative expenses
    		203,300,000 203,300,000 223,200,000 223,200,000 286,200,000 286,200,000 263,700,000 236,200,000 236,200,000 253,900,000 253,900,000 275,400,000 275,400,000 290,500,000 234,700,000 234,700,000 234,200,000 234,200,000 214,500,000 214,500,000 201,800,000 187,500,000 187,500,000 178,400,000 178,400,000 162,700,000 162,700,000 169,900,000 152,300,000 152,300,000 136,500,000 136,500,000 133,200,000 133,200,000 144,800,000 144,800,000 104,400,000 104,400,000 104,100,000 104,100,000 
      interest and other finance costs
    		129,200,000 129,200,000 121,100,000 121,100,000 210,400,000 210,400,000 165,200,000 169,800,000 169,800,000 186,900,000 186,900,000 153,000,000 153,000,000 160,500,000 137,200,000 137,200,000 164,800,000 164,800,000 164,700,000 164,700,000 148,600,000 136,200,000 136,200,000 104,800,000 104,800,000 99,700,000 99,700,000 105,200,000 97,000,000 97,000,000 139,800,000 139,800,000 92,100,000 92,100,000 137,900,000 137,900,000 94,900,000 94,900,000 95,400,000 95,400,000 
      loss on sale of property and equipment
    		4,100,000 4,100,000 -2,800,000 -2,800,000 3,200,000 3,200,000 2,100,000   200,000 200,000 -2,100,000 -2,100,000      100,000 100,000 14,800,000 -5,700,000  -2,600,000   -1,800,000 -800,000 1,700,000 1,700,000 200,000 200,000 800,000 800,000 2,200,000      
      loss on foreign exchange
    		100,500,000 100,500,000 -266,400,000 -266,400,000 -5,700,000 -5,700,000 279,800,000 -68,100,000 -68,100,000 5,400,000 5,400,000 74,900,000 74,900,000 -68,300,000 46,900,000 46,900,000 -56,800,000 -56,800,000 5,300,000 5,300,000 -31,600,000 195,300,000 195,300,000 112,600,000 112,600,000   -19,100,000 111,600,000  -37,300,000 -37,300,000 -39,000,000 -39,000,000    -22,000,000  -8,400,000 
      loss on divestiture
    		      -12,800,000 500,000 500,000 494,100,000 494,100,000           1,600,000 1,600,000                  
      other
    		 -168,800,000 -24,400,000 -24,400,000 8,000,000 8,000,000 -1,000,000 -25,100,000 -25,100,000 3,600,000 3,600,000 -4,500,000 -4,500,000 -5,700,000 -15,200,000 -15,200,000 -2,300,000 -2,300,000                       
      share of net income of investments accounted for using the equity method
    		47,800,000 47,800,000 -19,100,000 -19,100,000    31,800,000 31,800,000 15,700,000 15,700,000     34,000,000 -61,900,000 -61,900,000   6,200,000 9,200,000 9,200,000 5,300,000 5,300,000                
      income before income taxes
    		149,700,000 149,700,000 302,200,000 302,200,000 -266,300,000 -266,300,000 -316,200,000 131,100,000 131,100,000 -529,600,000  -230,100,000 -230,100,000 -81,000,000       -249,700,000 -259,500,000      -90,900,000 -347,000,000 -347,000,000   -315,500,000 -315,500,000 -676,700,000 -676,700,000 -159,600,000 -159,600,000  -153,800,000 
      current income tax (recovery) expense
    		 -16,700,000     -67,600,000       -10,500,000       -3,100,000 -3,400,000                   
      deferred tax expense
    		58,300,000 58,300,000                             7,900,000 7,900,000         
      income tax expense
    		41,600,000 41,600,000 28,000,000 28,000,000    20,500,000 20,500,000        238,900,000 238,900,000             15,400,000 15,400,000         
      net income from continuing operations
    		108,100,000 108,100,000 274,200,000 274,200,000 -213,900,000 -213,900,000        -62,100,000 18,300,000 18,300,000 293,800,000 293,800,000 -217,800,000 -217,800,000 -219,100,000 -183,700,000  82,600,000 82,600,000 137,000,000 137,000,000              
      net income from discontinued operations
    		    3,620,800,000 3,620,800,000                  -18,300,000   -109,600,000              
      net income
    		108,100,000 108,100,000 274,200,000 274,200,000 3,406,900,000 3,406,900,000 -199,500,000 110,600,000 110,600,000 -472,300,000  -176,500,000 -176,500,000 -62,100,000 18,300,000 18,300,000 293,800,000 293,800,000 -217,800,000 -217,800,000 -219,100,000 -183,700,000  64,300,000 64,300,000 27,400,000 27,400,000 -77,400,000 -245,200,000 -245,200,000 25,200,000 25,200,000 -226,200,000 -226,200,000 -486,700,000 -486,700,000 -114,700,000 -114,700,000  -115,500,000 
      yoy
    		-96.83% -96.83% -237.44% 147.92% 2980.38% -821.34%  -162.66% -162.66% 660.55%  -1064.48% -160.07% -121.14% -108.40% -108.40% -234.09% -259.93%  -438.72% -440.75% -770.44%  -183.07% -126.22% -111.17% 8.73% -407.14% 8.40% 8.40% -105.18% -105.18% 97.21% 97.21%  321.39%     
      qoq
    		0.00% -60.58% 0.00% -91.95% 0.00% -1807.72% -280.38% 0.00% -123.42%   0.00% 184.22% -439.34% 0.00% -93.77% 0.00% -234.89% 0.00% -0.59% 19.27%   0.00% 134.67% 0.00% -135.40% -68.43% 0.00% -1073.02% 0.00% -111.14% 0.00% -53.52% 0.00% 324.32% 0.00%    
      net income margin %
    		6.38% 6.38% 16.37% 16.37% 218.38% 218.38% -10.05% 5.49% 5.49% -22.93% 0% -9.80% -9.80% -3.30% 0.97% 0.97% 15.12% 15.12% -12.11% -12.11% -12.03% -10.03% 0% 3.77% 3.77% 1.96% 1.96% -5.03% -16.51% -16.51% 1.92% 1.92% -19.06% -19.06% -39.39% -39.39% -11.07% -11.07% 0% -11.63% 
      less: net income attributable to non-controlling interests
    		 -6,200,000      200,000 200,000 -1,100,000  -3,700,000 -3,700,000    -1,100,000 -1,100,000 1,600,000 1,600,000 900,000                    
      net income attributable to gfl environmental inc.
    		114,300,000 114,300,000 276,300,000 276,300,000 3,409,600,000 3,409,600,000 -189,100,000 110,400,000 110,400,000 -471,200,000     22,100,000 22,100,000 294,900,000 294,900,000 -219,400,000 -219,400,000                     
      items that may be subsequently reclassified to net income
    		                                        
      currency translation adjustment
    		172,700,000 172,700,000 -442,500,000 -442,500,000 -10,400,000 -10,400,000 429,000,000 -86,200,000 -86,200,000 60,600,000 60,600,000 140,700,000 140,700,000 -129,400,000 119,400,000 119,400,000 -156,300,000 -156,300,000 -5,500,000 -5,500,000 -76,800,000 420,000,000 420,000,000 197,700,000 197,700,000  -91,400,000 -35,900,000 190,600,000 190,600,000 -87,000,000 -87,000,000 -76,800,000 -76,800,000 -262,500,000 -262,500,000 -37,100,000 -37,100,000  -205,700,000 
      reclassification to net income of fair value movements on cash flow hedges, net of tax
    		1,000,000 1,000,000 1,000,000 1,000,000 6,000,000 6,000,000 1,400,000 -5,700,000 -5,700,000                      -4,400,000 -4,400,000         
      fair value movements on cash flow hedges, net of tax
    		 -700,000 16,000,000 16,000,000 7,300,000 7,300,000 -32,200,000 2,100,000 2,100,000 600,000 600,000 -15,300,000 -15,300,000 2,900,000 10,700,000 10,700,000 7,500,000 7,500,000 7,400,000 7,400,000 9,300,000 -73,400,000  21,600,000 21,600,000  -22,400,000 -5,500,000 9,500,000 9,500,000 3,100,000 3,100,000 -5,800,000 -5,800,000 -11,400,000 -11,400,000 -12,000,000 -12,000,000 10,900,000 10,900,000 
      share of other comprehensive income of investments accounted for using the equity method, net of tax
    		7,400,000 7,400,000                                       
      reclassification to net income of foreign currency differences on divestitures
    		1,500,000 1,500,000        -26,500,000       22,500,000 22,500,000                       
      other comprehensive income
    		181,900,000 181,900,000 -441,700,000 -441,700,000 2,900,000 2,900,000 398,200,000 -89,800,000 -89,800,000 33,500,000 33,500,000 125,400,000 125,400,000                200,100,000 200,100,000 -88,300,000 -88,300,000 -82,600,000 -82,600,000    -49,100,000  -194,800,000 
      comprehensive income from continuing operations
    		290,000,000 290,000,000            -188,600,000 148,400,000 148,400,000 167,100,000 167,100,000 -215,900,000 -215,900,000 -287,000,000 162,900,000 162,900,000 301,900,000 301,900,000 23,200,000 23,200,000              
      comprehensive income from discontinued operations
    		    3,444,300,000 3,444,300,000                  -18,300,000   -109,600,000              
      total comprehensive income
    		290,000,000 290,000,000 -167,500,000 -167,500,000 3,233,300,000 3,233,300,000 198,700,000 20,800,000 20,800,000 -438,800,000    -188,600,000 148,400,000 148,400,000 167,100,000 167,100,000   -287,000,000 162,900,000 162,900,000 283,600,000 283,600,000        -308,800,000 -308,800,000       
      less: total comprehensive loss attributable to non-controlling interests
    		 -1,500,000      -2,700,000 -2,700,000      -4,500,000 -4,500,000                         
      total comprehensive income attributable to gfl environmental inc.
    		291,500,000 291,500,000 -153,100,000 -153,100,000 3,236,200,000 3,236,200,000 193,900,000 23,500,000 23,500,000 -439,700,000    -173,700,000 152,900,000 152,900,000 168,400,000 168,400,000   -287,900,000  162,900,000                  
      basic income per share
    		       0.24 0.24 -1.31                               
      continuing operations
    		0.28 0.28 0.72 0.72 -0.58 -0.58        -0.21   0.74 0.74 -0.66 -0.66 -0.66 -0.55  0.17 0.17 0.32 0.32              
      discontinued operations
    		    9.25 9.25                  -0.05   -0.3              
      total operations
    		0.28 0.28 0.72 0.72 8.67 8.67        -0.21   0.74 0.74 -0.66 -0.66 -0.66 -0.55  0.12 0.12 0.02 0.02              
      diluted income per share
    		       0.23 0.23 -1.31                               
      weighted-average number of shares outstanding
    		362,084,803  365,815,712     380,144,960   376,598,800      369,225,007         364,035,921     360,735,698          
      diluted weighted-average number of shares outstanding
    		370,243,683  383,211,513     385,321,424   376,598,800    369,556,706  401,218,417  369,176,174     368,706,685  366,549,527               
      current income tax expense
    		  30,900,000 30,900,000 33,200,000 33,200,000  29,800,000 29,800,000 24,000,000 24,000,000 39,200,000 39,200,000  18,100,000 18,100,000 342,200,000 342,200,000 7,200,000 7,200,000    4,000,000 4,000,000 6,900,000 6,900,000 11,100,000 3,300,000 3,300,000 7,500,000 7,500,000 2,000,000 2,000,000 -3,800,000 -3,800,000 1,400,000 1,400,000 2,000,000 2,000,000 
      deferred tax recovery
    		  -2,900,000 -2,900,000 -85,600,000 -85,600,000 -49,100,000 -9,300,000 -9,300,000 -81,300,000  -92,800,000 -92,800,000 -8,400,000 -36,100,000 -36,100,000 -103,300,000 -103,300,000 -49,300,000 -49,300,000 -27,500,000 -72,400,000  -51,900,000   -28,700,000 -24,600,000 -105,100,000 -105,100,000   -91,300,000 -91,300,000 -186,200,000 -186,200,000 -46,300,000 -46,300,000  -40,300,000 
      less: net loss attributable to non-controlling interests
    		  -2,100,000 -2,100,000 -2,700,000 -2,700,000 -10,400,000        -3,800,000 -3,800,000      -200,000                   
      share of other comprehensive loss of investments accounted for using the equity method, net of tax
    		  -16,200,000 -16,200,000                                     
      comprehensive loss from continuing operations
    		  -167,500,000 -167,500,000 -211,000,000 -211,000,000                                   
      less: total comprehensive (loss) income attributable to non-controlling interests
    		  -14,400,000                                      
      less: total comprehensive income attributable to non-controlling interests
    		   -14,400,000 -2,900,000 -2,900,000 4,800,000   900,000 900,000 1,800,000 1,800,000 -14,900,000   -1,300,000 -1,300,000 1,500,000 1,500,000 900,000                    
      share of net loss of investments accounted for using the equity method
    		    -51,700,000 -51,700,000      -30,600,000 -30,600,000      -21,000,000 -21,000,000                     
      income tax recovery
    		    -52,400,000 -52,400,000      -53,600,000 -53,600,000      -42,100,000 -42,100,000 -30,600,000 -75,800,000  -47,900,000   -21,800,000 -13,500,000 -101,800,000 -101,800,000   -89,300,000 -89,300,000 -190,000,000 -190,000,000 -44,900,000 -44,900,000  -38,300,000 
      basic and diluted income per share
    		                                        
      weighted and diluted weighted-average number of shares outstanding
    		    391,360,731  393,503,219     372,986,761  370,651,938     369,176,174  369,134,504 368,627,958      363,051,517 362,058,515            
      mark-to-market loss on purchase contracts
    		                  104,300,000 104,300,000 124,600,000 -10,300,000  -206,200,000   -174,900,000 30,000,000 208,600,000 208,600,000 -117,300,000 -117,300,000 228,300,000 228,300,000 355,900,000   107,500,000   
      share of net income (loss) of investments accounted for using the equity method
    		      1,300,000        34,000,000                          
      income tax (recovery) expense
    		      -116,700,000   -57,300,000    -18,900,000 -18,000,000 -18,000,000                         
      share of other comprehensive loss of investments accounted for using the equity method
    		         -1,200,000       -400,000 -400,000                       
      basic and diluted loss per share
    		      -0.52     -0.53 -0.53                            
      gain on sale of property and equipment
    		       -2,400,000 -2,400,000      -6,700,000 -6,700,000 -6,500,000 -6,500,000                       
      items that may be subsequently reclassified to net loss
    		                                        
      total comprehensive loss attributable to gfl environmental inc.
    		           -52,900,000 -52,900,000      -217,400,000 -217,400,000                     
      gain on divestiture
    		                -575,000,000 -575,000,000 -5,500,000 -5,500,000       -6,500,000 -86,400,000 -31,400,000 -31,400,000 -35,500,000 -35,500,000         
      net loss attributable to gfl environmental inc.
    		           -172,800,000 -172,800,000        -220,000,000 -183,500,000                   
      total comprehensive loss
    		           -51,100,000 -51,100,000      -215,900,000 -215,900,000       -86,400,000 -118,800,000 -45,100,000 -45,100,000 -63,100,000 -63,100,000   -773,700,000 -773,700,000 -163,800,000 -163,800,000  -310,300,000 
      share of net (loss) income of investments accounted for using the equity method
    		             -12,700,000                           
      net loss from discontinued operations
    		                                        
      less: net (loss) income attributable to non-controlling interests
    		             -9,900,000                           
      net (loss) income attributable to gfl environmental inc.
    		             -52,200,000                           
      reclassification to net loss of fair value movements on cash flow hedges, net of tax
    		                    -400,000                    
      other comprehensive income from continuing operations
    		             -126,500,000 130,100,000 130,100,000 -126,700,000 -126,700,000 1,900,000 1,900,000 -67,900,000 346,600,000 346,600,000 219,300,000 219,300,000                
      comprehensive loss from discontinued operations
    		                                        
      earnings before income taxes
    		              300,000 300,000 532,700,000 532,700,000 -259,900,000 -259,900,000    34,700,000 34,700,000 115,200,000 115,200,000    40,600,000 40,600,000         
      basic and diluted earnings per share
    		                                        
      weighted average number of shares outstanding
    		              369,556,706         366,843,674                 
      basic earnings per share
    		                                        
      diluted earnings per share
    		                                        
      impairment and other
    		                    -5,300,000                    
      impairment
    		                     3,400,000 3,400,000 9,100,000 9,100,000                
      mark-to-market (gain) loss on purchase contracts
    		                                        
      gain on foreign exchange
    		                          -58,600,000        -112,900,000      
      other comprehensive loss from continuing operations
    		                          -113,800,000              
      deferred purchase consideration
    		                                    1,000,000 1,000,000   
      impairment and other charges
    		                                  21,400,000      
      other comprehensive loss
    		                           -41,400,000       -287,000,000      
      loss per share
    		                                        
      basic and diluted
    		                           -0.25 -0.71 -0.71   -0.66 -0.66       
      loss (gain) on foreign exchange
    		                             111,600,000           
      earnings per share
    		                                        
      basic and diluted
    		                              0.03 0.03         
      diluted weighted-average number of share outstanding
    		                              362,539,928          
      weighted-average number of shares, basic and diluted
    		                                 360,377,813       
      reclassification of net loss of fair value movement on cash flow hedges, net of tax
    		                                  -13,100,000      
      loss per share
    		                                        
      basic
    		                                  -1.39 -0.353 -0.32 -0.32  -0.32 
      diluted
    		                                  -1.39 -0.353 -0.32 -0.32  -0.32 
      loss (gain) on sale of property, plant and equipment
    		                                   600,000 300,000    
      (gain) loss on foreign exchange
    		                                   18,900,000 -22,000,000    
      mark-to-market loss on teu derivative purchase contract
    		                                   23,325,000 107,500,000  74,200,000 74,200,000 
      other comprehensive (loss) income
    		                                   12,050,000 -49,100,000    
      loss on sale of property, plant and equipment
    		                                     300,000 500,000 500,000 
    Balance Sheets:
    Quarterly
    Annual
      Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 
                            
        assets
      		                      
        cash
      		194,600,000 139,700,000 537,200,000 133,800,000 99,500,000 134,200,000 70,000,000 135,700,000 174,200,000 82,200,000 73,000,000 82,100,000 237,400,000 230,600,000 189,300,000 190,400,000 1,149,500,000 310,400,000 11,100,000 27,200,000 1,817,200,000 723,900,000 
        trade and other receivables
      		878,700,000 840,600,000 796,500,000 1,175,100,000 1,216,600,000 1,186,000,000 1,067,600,000 1,080,000,000 1,182,800,000 1,113,200,000 1,021,600,000 1,118,100,000 1,211,500,000 1,093,600,000 844,600,000 1,134,700,000 1,091,200,000 873,900,000 816,100,000    
        income taxes recoverable
      		24,400,000 12,400,000 25,300,000 86,000,000 8,800,000  12,700,000 47,700,000               
        prepaid expenses and other assets
      		265,100,000 207,400,000 248,500,000 300,700,000 281,300,000 289,400,000 253,600,000 221,600,000 248,000,000 250,900,000 202,400,000 182,900,000 189,000,000 194,800,000 152,600,000 170,600,000 165,600,000 149,300,000 135,600,000 133,700,000 147,200,000 150,600,000 
        current assets
      		1,362,800,000 1,200,100,000 1,607,500,000 1,695,600,000 1,606,200,000 1,609,600,000 1,403,900,000 1,485,000,000 1,605,000,000 1,446,300,000 2,318,600,000 1,383,100,000 1,637,900,000 1,519,000,000 1,758,800,000 1,495,700,000 2,406,300,000 1,333,600,000 962,800,000 1,028,200,000   
        property and equipment
      		7,163,700,000 6,834,800,000 6,955,900,000 7,851,700,000 7,358,700,000 7,330,200,000 7,048,400,000 6,980,700,000 6,863,300,000 6,401,700,000 6,401,100,000 6,540,300,000 6,538,800,000 6,047,100,000 5,656,200,000 6,010,600,000 5,572,000,000 5,007,100,000 5,052,300,000 5,074,800,000   
        intangible assets
      		1,691,000,000 1,634,600,000 1,698,800,000 2,833,200,000 2,846,800,000 2,944,500,000 2,992,900,000 3,056,300,000 3,056,000,000 2,948,100,000 3,125,800,000 3,245,000,000 3,290,600,000 3,395,300,000 3,174,400,000 3,330,000,000 3,180,800,000 2,901,300,000 2,994,500,000 3,093,400,000 3,023,900,000 3,121,100,000 
        investments accounted for using the equity method
      		1,992,400,000 1,966,400,000 1,989,400,000 344,400,000 335,500,000 312,900,000 290,500,000 319,000,000 316,200,000 271,900,000 310,200,000 326,600,000 321,600,000 298,000,000 21,300,000        
        other long-term assets
      		327,400,000 302,100,000 365,800,000 207,400,000 108,800,000 114,000,000 124,600,000 82,900,000 112,600,000 59,500,000 71,200,000 90,200,000 40,600,000 38,500,000 35,900,000 36,300,000 36,200,000 35,300,000 35,800,000 33,200,000 33,800,000 33,500,000 
        deferred income tax assets
      		   209,300,000 155,300,000 173,600,000 134,400,000 64,800,000 38,900,000              
        goodwill
      		6,817,900,000 6,589,100,000 6,854,800,000 8,065,800,000 7,727,300,000 7,790,600,000 8,053,700,000 7,890,500,000 7,898,400,000 7,430,300,000 7,603,300,000 8,182,400,000 8,184,900,000 7,814,100,000 7,295,900,000 7,501,100,000 6,930,300,000 6,417,900,000 6,463,700,000 6,500,400,000 5,757,000,000 5,823,300,000 
        non-current assets
      		17,992,400,000 17,327,000,000 17,864,700,000 19,511,800,000 18,532,400,000 18,665,800,000 18,644,500,000 18,394,200,000 18,285,400,000 17,111,500,000 17,511,600,000 18,384,500,000 18,376,500,000 17,593,000,000 16,183,700,000 16,878,000,000 15,719,300,000 14,361,600,000 14,546,300,000 14,701,800,000   
        total assets
      		19,355,200,000 18,527,100,000 19,472,200,000 21,207,400,000 20,138,600,000 20,275,400,000 20,048,400,000 19,879,200,000 19,890,400,000 18,557,800,000 19,830,200,000 19,767,600,000 20,014,400,000 19,112,000,000 17,942,500,000 18,373,700,000 18,125,600,000 15,695,200,000 15,509,100,000 15,730,000,000   
        liabilities
      		                      
        accounts payable and accrued liabilities
      		1,684,400,000 1,567,900,000 1,758,200,000 1,880,200,000 1,598,800,000 1,666,900,000 1,532,700,000 1,679,100,000 1,552,800,000 1,442,400,000 1,380,000,000 1,557,700,000 1,496,000,000 1,371,900,000 1,119,000,000 1,319,700,000 1,177,400,000 990,800,000 950,000,000 1,014,800,000 747,500,000 701,500,000 
        income taxes payable
      		3,400,000 8,900,000 5,500,000   6,200,000   107,300,000 337,300,000 4,900,000  5,800,000 16,400,000 30,700,000 25,800,000 16,200,000 18,500,000 11,900,000 9,100,000 13,300,000 2,600,000 
        long-term debt
      		81,600,000 60,600,000 93,200,000 1,146,500,000 1,031,100,000 10,000,000 9,900,000 9,700,000   17,400,000 17,900,000 18,200,000 17,100,000 16,600,000 17,200,000 17,300,000 8,700,000 17,000,000 6,161,500,000 6,055,700,000 5,084,300,000 
        lease obligations
      		144,900,000 112,800,000 46,900,000 69,400,000 66,500,000 61,900,000 63,300,000 59,600,000 53,900,000 51,200,000 53,400,000 51,500,000 51,300,000 49,700,000 47,300,000 50,900,000 50,600,000 48,600,000 39,800,000 153,700,000 145,700,000 151,400,000 
        due to related party
      		   2,900,000 2,900,000 5,800,000 5,800,000 5,800,000 5,800,000 5,800,000 5,800,000 9,300,000 9,300,000 12,800,000 12,800,000 12,800,000 12,800,000 12,800,000 12,800,000 30,800,000 30,800,000 37,200,000 
        landfill closure and post-closure obligations
      		51,600,000 51,200,000 51,600,000 51,700,000 59,200,000 59,400,000 58,000,000 56,200,000 36,500,000 33,700,000 33,500,000 30,800,000 39,400,000 38,500,000 37,700,000 39,100,000 52,000,000 54,100,000 61,500,000 680,300,000 237,800,000 241,700,000 
        current liabilities
      		1,965,900,000 1,801,400,000 1,955,400,000 3,150,700,000 2,758,500,000 1,810,200,000 1,669,700,000 1,810,400,000 1,756,300,000 1,870,400,000 1,549,500,000 2,692,100,000 2,546,600,000 2,401,500,000 2,443,000,000 1,522,400,000 1,383,000,000 1,188,100,000 1,147,800,000 1,193,300,000   
        other long-term liabilities
      		34,800,000 33,400,000 31,200,000 41,600,000 40,000,000 39,800,000 37,400,000 39,100,000 39,900,000 40,100,000 43,100,000 47,500,000 51,100,000 51,000,000 39,800,000 41,000,000 39,400,000 30,000,000 35,600,000 37,200,000 10,000,000 9,000,000 
        deferred income tax liabilities
      		832,100,000 749,400,000 782,400,000 464,500,000 444,700,000 485,500,000 518,300,000 534,000,000 550,000,000 435,400,000 541,700,000 582,600,000 593,300,000 646,800,000 653,400,000 723,900,000 384,800,000 378,400,000 369,300,000 466,000,000 690,700,000 746,800,000 
        non-current liabilities
      		9,583,200,000 8,838,200,000 9,228,400,000 10,835,000,000 10,374,900,000 11,509,800,000 10,993,000,000 10,682,600,000 10,620,900,000 9,556,000,000 11,325,100,000 11,031,400,000 11,146,200,000 10,566,300,000 9,801,000,000 11,075,200,000 11,214,700,000 9,094,800,000 8,969,700,000 8,857,400,000   
        total liabilities
      		11,549,100,000 10,639,600,000 11,183,800,000 13,985,700,000 13,133,400,000 13,320,000,000 12,662,700,000 12,493,000,000 12,377,200,000 11,426,400,000 12,874,600,000 13,723,500,000 13,692,800,000 12,967,800,000 12,244,000,000 12,597,600,000 12,597,700,000 10,282,900,000 10,117,500,000 10,050,700,000   
        shareholders’ equity
      		                      
        share capital
      		7,221,500,000 7,532,100,000 7,772,100,000 9,938,000,000 9,938,000,000 9,901,300,000 9,900,500,000 9,835,100,000 9,786,400,000 9,754,700,000 9,754,100,000 8,640,300,000 8,638,800,000 8,621,200,000 8,463,200,000 8,462,900,000 7,907,100,000 7,743,500,000 7,660,400,000 7,644,800,000 6,859,700,000 6,859,700,000 
        contributed surplus
      		149,200,000 173,100,000 158,500,000 151,300,000 137,200,000 155,900,000 141,100,000 149,500,000 130,100,000 135,300,000 120,700,000 109,600,000 96,000,000 99,700,000 90,600,000 77,400,000 70,700,000 69,200,000 64,000,000 54,300,000 43,500,000 36,300,000 
        retained earnings
      		203,200,000 96,500,000                     
        accumulated other comprehensive income
      		37,000,000 -140,200,000 289,200,000 462,600,000 79,600,000 166,500,000 135,000,000 15,100,000 136,600,000 5,800,000 132,300,000 130,300,000 198,200,000        45,500,000 94,600,000 
        total gfl environmental inc.’s shareholders’ equity
      		7,610,900,000 7,661,500,000 8,048,000,000 6,978,400,000 6,777,900,000 6,743,600,000 7,174,800,000 7,177,100,000 7,289,200,000 7,116,200,000 6,939,100,000 6,037,200,000 6,315,600,000          
        non-controlling interests
      		195,200,000 226,000,000 240,400,000 243,300,000 227,300,000 211,800,000 210,900,000 209,100,000 224,000,000 15,200,000 16,500,000 6,900,000 6,000,000          
        total shareholders’ equity
      		7,806,100,000 7,887,500,000 8,288,400,000 7,221,700,000 7,005,200,000 6,955,400,000 7,385,700,000 7,386,200,000 7,513,200,000 7,131,400,000 6,955,600,000 6,044,100,000 6,321,600,000 6,144,200,000 5,698,500,000 5,776,100,000 5,527,900,000 5,412,300,000 5,391,600,000 5,679,300,000   
        total liabilities and shareholders’ equity
      		19,355,200,000 18,527,100,000 19,472,200,000 21,207,400,000 20,138,600,000 20,275,400,000 20,048,400,000 19,879,200,000 19,890,400,000 18,557,800,000 19,830,200,000 19,767,600,000 20,014,400,000 19,112,000,000 17,942,500,000 18,373,700,000 18,125,600,000 15,695,200,000 15,509,100,000 15,730,000,000   
        balance, december 31, 2023
      		  407,931,017,000,000  407,931,017,000,000 407,931,017,000,000 407,931,017,000,000                
        net loss and comprehensive loss
      		                      
        dividends issued and paid
      		   -7,500,000    -6,500,000    -5,600,000    -4,800,000  -4,500,000 -4,200,000    
        contribution from non-controlling interests
      		   11,200,000                   
        cancelled shares
      		    -260,000,000    -8,057,000,000 -8,057,000,000 -1,221,000,000  -26,041,000,000  -4,069,000,000  -26,041,000,000      
        share capital issued on exercise of options
      		                      
        share capital issued on settlement of rsus
      		  1,494,802,000,000  875,897,000,000 57,996,000,000 43,805,000,000                
        share capital issued on conversion of preferred shares
      		  515,764,000,000  1,644,022,000,000 209,565,000,000 209,565,000,000                
        share-based payments
      		   14,100,000    68,100,000    15,100,000    14,500,000  10,600,000 9,700,000    
        balance, september 30, 2024
      		    411,981,652,000,000                  
        balance, december 31, 2024
      		  411,982,011,000,000                    
        net income and comprehensive income
      		                      
        net distribution to non-controlling interests
      		                      
        repurchased and cancelled shares
      		  -31,725,083,000,000                    
        share capital issued on exercise of share options
      		    119,003,000,000 62,872,000,000   450,000,000,000 450,000,000,000   1,000,000,000,000          
        balance, september 30, 2025
      		                      
        balance, june 30, 2024
      		     409,703,320,000,000                 
        balance, june 30, 2025
      		                      
        deficit
      		  -171,800,000 -3,573,500,000 -3,376,900,000 -3,480,100,000 -3,001,800,000 -2,822,600,000 -2,763,900,000 -2,779,600,000 -3,068,000,000 -2,843,000,000 -2,617,400,000 -2,428,500,000 -2,487,800,000 -2,510,500,000 -2,237,600,000 -1,988,000,000 -2,008,700,000 -1,778,300,000 -1,287,200,000 -1,163,800,000 
        share capital issued on teu conversion
      		  209,565,000,000  25,666,465,000,000 25,666,465,000,000 25,666,465,000,000  297,000,000 25,666,465,000,000 25,666,465,000,000  4,782,030,000,000  328,951,000,000        
        balance, march 31, 2024
      		  409,635,384,000,000    409,635,384,000,000                
        balance, march 31, 2025
      		  381,624,268,000,000                    
        operating activities
      		                      
        net income
      		   -199,500,000    -62,100,000    -219,100,000    -77,400,000  25,200,000 -226,200,000    
        adjustments for non-cash items
      		                      
        depreciation of property and equipment
      		   295,400,000    284,500,000    271,900,000    278,900,000  221,800,000 203,600,000    
        amortization of intangible assets
      		   110,900,000    105,600,000    133,500,000    126,700,000  110,200,000 111,000,000    
        share of net (income) loss of investments accounted for using the equity method
      		   -1,300,000                   
        (gain) loss on divestiture
      		   -12,800,000                   
        other
      		   -1,000,000    -5,700,000               
        interest and other finance costs
      		   165,200,000    160,500,000    148,600,000    105,200,000  139,800,000 92,100,000    
        gain on unrealized foreign exchange on long-term debt and teus
      		   280,300,000                   
        gain on sale of property and equipment
      		   2,100,000        14,800,000           
        mark to market loss on purchase contracts
      		                      
        current income tax (recovery) expense
      		   -67,600,000    -10,500,000    -3,100,000           
        deferred tax recovery
      		   -49,100,000    -8,400,000    -20,700,000    -24,600,000   -91,300,000    
        interest paid in cash on amortizing notes component of teus
      		           -300,000    -900,000       
        interest paid in cash, excluding interest paid on amortizing notes
      		   -97,200,000    -105,600,000    -116,300,000    -88,300,000       
        income taxes paid in cash
      		   -8,000,000    -149,800,000    -2,300,000      -800,000 -200,000    
        changes in non-cash working capital items
      		   150,400,000    200,600,000    115,700,000      -9,900,000 -34,100,000    
        landfill closure and post-closure expenditures
      		   -16,600,000    -19,900,000    -8,400,000    -11,600,000  -8,600,000 -2,100,000    
        investing activities
      		                      
        purchase of property and equipment
      		   -317,200,000    -225,300,000    -237,300,000    -229,400,000       
        proceeds from disposal of assets and other
      		   20,800,000    10,800,000               
        proceeds from divestitures
      		   16,500,000    3,300,000               
        business acquisitions and investments, net of cash acquired
      		   -36,000,000    -297,800,000               
        distribution received from joint ventures
      		   1,400,000                   
        financing activities
      		                      
        repayment of lease obligations
      		   -500,000    -46,600,000    -18,000,000    -14,600,000  -22,400,000 -14,800,000    
        issuance of long-term debt
      		   749,600,000    1,940,200,000    210,300,000    205,900,000  1,313,900,000 447,400,000    
        repayment of long-term debt
      		   -942,300,000    -1,768,000,000    -316,300,000    -639,200,000  -906,800,000 -418,500,000    
        proceeds from termination of hedged arrangements
      		                      
        payment for termination of hedged arrangements
      		   -1,100,000                   
        payment of contingent purchase consideration and holdbacks
      		   -1,400,000    -26,600,000    -5,400,000    -4,000,000       
        repayment of amortizing notes
      		           -15,400,000    -14,000,000  -12,900,000 -13,500,000    
        payment of financing costs
      		   -7,600,000    -12,000,000    -100,000      -6,900,000 -3,700,000    
        repayment of loan to related party
      		                  -6,400,000    
        increase in cash
      		   51,200,000    -27,100,000    -151,800,000    -953,500,000  315,600,000     
        changes due to foreign exchange revaluation of cash
      		   -16,900,000    -11,400,000    -3,500,000    -5,600,000  -16,300,000 -4,300,000    
        cash, beginning of period
      		   99,500,000    174,200,000    237,400,000    1,149,500,000  11,100,000     
        cash, end of period
      		   133,800,000    135,700,000    82,100,000      310,400,000     
        balance, december 31, 2022
      		    380,211,030,000,000 380,211,030,000,000 380,211,030,000,000  380,211,030,000,000 380,211,030,000,000 380,211,030,000,000            
        non-controlling interests measured upon acquisition of subsidiary
      		                      
        balance, september 30, 2023
      		    406,753,132,000,000    406,753,132,000,000              
        net income and comprehensive loss
      		                      
        balance, june 30, 2023
      		     405,935,491,000,000    405,935,491,000,000             
        balance, march 31, 2023
      		      405,921,300,000,000    405,921,300,000,000            
        tangible equity units
      		           1,024,900,000 926,600,000 895,100,000 1,081,600,000 56,900,000 56,700,000 54,600,000 54,800,000 1,327,900,000 1,036,900,000 959,000,000 
        share of net income (income) of investments accounted for using the equity method
      		       12,700,000               
        gain on divestiture
      		               -86,400,000  -35,500,000     
        impairment related to discontinued operations
      		           -6,800,000           
        (gain) loss on unrealized foreign exchange on long-term debt and teus
      		       -68,600,000    -32,700,000    -19,100,000  -38,600,000 -38,900,000    
        mark-to-market gain on purchase contracts
      		           124,600,000       228,300,000    
        balance, december 31, 2021
      		        375,061,066,000,000 375,061,066,000,000 375,061,066,000,000  375,061,066,000,000  375,061,066,000,000        
        net loss and comprehensive income
      		                      
        share capital issued upon acquisition of subsidiary
      		        3,976,434,000,000 3,976,434,000,000   876,419,000,000  46,966,000,000  3,092,118,000,000     3,092,118,000,000 
        share capital issued on exercise and settlement of rsus
      		        692,482,000,000 158,899,000,000 8,716,000,000  401,272,000,000  8,716,000,000        
        balance, september 30, 2022
      		        380,172,222,000,000    380,172,222,000,000          
        contribution from non-controlling interest
      		                      
        balance, june 30, 2022
      		         379,638,342,000,000             
        assets held for sale
      		          1,021,600,000    572,300,000        
        liabilities held for sale
      		          54,500,000    97,300,000        
        balance, march 31, 2022
      		          375,068,561,000,000    375,068,561,000,000        
        net loss and comprehensive (loss) income
      		                      
        share of net income of investments accounted for using the equity
      		           -6,200,000           
        impairment and other
      		           -5,300,000           
        proceeds on disposal of assets
      		           35,500,000    89,300,000  65,400,000 3,800,000    
        investment in joint ventures and associates
      		           -4,600,000           
        business acquisitions, net of cash acquired
      		           -197,900,000    -996,500,000  -135,000,000 -68,300,000    
        issuance of share capital, net of issuance costs
      		               372,500,000       
        balance, december 31, 2020
      		            354,934,813,000,000  354,934,813,000,000  354,934,813,000,000      
        balance, september 30, 2021
      		            361,968,493,000,000    361,968,493,000,000      
        accumulated other comprehensive loss
      		             -148,200,000 -367,500,000 -253,700,000 -212,300,000 -412,400,000 -324,100,000 -241,500,000   
        notes
      		                      
        balance, june 30, 2021
      		                      
        balance, march 31, 2021
      		              355,306,661,000,000        
        impairment and other charges
      		                      
        loss on sale of property and equipment
      		               -800,000  200,000 800,000    
        mark-to-market loss on purchase contracts
      		               30,000,000       
        mark-to-market loss on fuel hedges
      		                      
        current income tax expense
      		               11,100,000  7,500,000 2,000,000    
        prepayment penalties for early note redemption
      		                      
        income taxes (paid) received in cash
      		               -4,400,000       
        investment in acquisition related net working capital items
      		               -5,600,000       
        changes in non-cash working capital items, excluding investment in acquisition related net working capital items
      		               36,500,000       
        issuance of teus, net of issuance costs
      		                      
        return of capital
      		                      
        issuance of loan from related party
      		               -2,500,000       
        cash, end of year
      		               190,400,000       
        balance, december 31, 2019
      		                180,794,203,000,000     180,794,203,000,000 
        share capital issued, net of cancelled shares
      		                142,478,008,000,000     142,489,153,000,000 
        share issuance costs
      		                      
        balance, september 30, 2020
      		                326,364,329,000,000      
        shares issued on options exercise
      		                1,000,000,000,000      
        exercise and settlement of rsus
      		                401,272,000,000      
        shares issued on teu conversion
      		                4,782,030,000,000      
        mark-to-market (gain) loss on purchase contracts
      		                 -117,300,000     
        deferred tax expense
      		                 7,900,000     
        interest paid in cash
      		                 -135,000,000 -42,000,000    
        purchase of property and equipment and intangible assets
      		                 -151,800,000 -131,300,000    
        payment of contingent purchase consideration
      		                 -900,000 -15,000,000    
        decrease in cash
      		                  -11,800,000    
        cash, beginning of quarter
      		                  27,200,000    
        cash, end of quarter
      		                  11,100,000    
        trade and other receivables, net of allowance
      		                   867,300,000 731,500,000 744,000,000 
        current portion of long-term debt
      		                   4,600,000   
        current portion of lease obligations
      		                   37,500,000 39,700,000 38,700,000 
        current portion of due to related party
      		                   12,800,000 15,700,000 12,800,000 
        current portion of tangible equity units
      		                   59,200,000 62,000,000 63,400,000 
        current portion of landfill closure and post-closure obligations
      		                   55,300,000 18,300,000 18,600,000 
        property, plant, and equipment
      		                    3,258,600,000 3,301,300,000 
        current portion of long term debt
      		                    3,600,000 3,900,000 
        7
      		                      
        balance, december 31, 2018
      		                     177,893,748,000,000 
        balance, june 30, 2019
      		                     177,893,748,000,000 
        balance, june 30, 2020
      		                     326,375,474,000,000 
      Cashflow Statements:
      Quarterly
      Annual
        Unit: USD2025-09-30 2025-06-30 2025-04-30 2025-03-31 2025-02-24 2024-09-30 2024-06-01 2024-05-01 2024-03-31 2024-02-20 2023-09-30 2023-06-30 2023-04-27 2023-03-31 2023-02-21 2022-09-30 2022-06-30 2022-03-31 2022-02-09 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 
                                
          operating activities
        		                        
          net income
        		-166,100,000 -3,132,700,000 3,406,900,000 3,406,900,000 -310,100,000 582,900,000   -176,500,000 -80,400,000 -275,500,000 511,600,000 -217,800,000 -217,800,000   36,900,000 27,400,000   251,400,000 -226,200,000   
          adjustments for non-cash items
        		                        
          depreciation of property and equipment
        		6,100,000 4,200,000 257,900,000 257,900,000 6,400,000 1,700,000 32,300,000 255,000,000 255,000,000 42,200,000 4,500,000 -2,000,000 239,800,000 239,800,000 7,900,000 22,900,000 9,400,000 231,700,000 51,400,000 5,700,000 18,200,000 203,600,000   
          amortization of intangible assets
        		4,500,000 -600,000 61,400,000 61,400,000 0 300,000 1,900,000 108,700,000 108,700,000 -1,300,000 -27,100,000 -4,800,000 138,800,000 138,800,000 9,300,000 -9,200,000 7,700,000 125,700,000 13,400,000 3,100,000 -800,000 111,000,000  -1,800,000 
          share of net loss of investments accounted for using the equity method
        		-66,900,000 -32,600,000 51,700,000  30,500,000 -16,100,000 -46,300,000 30,600,000  46,700,000  40,900,000 21,000,000            
          loss on divestiture
        		    -13,300,000 -493,600,000                   
          other
        		 -32,400,000 8,000,000 8,000,000 24,100,000 -28,700,000 8,100,000 -4,500,000 -4,500,000 9,500,000 -12,900,000              
          interest and other finance costs
        		8,100,000 -90,900,000 212,000,000 212,000,000 -4,600,000 -17,100,000 33,900,000 153,000,000 153,000,000 23,300,000 -27,600,000 100,000 164,700,000 164,700,000 12,400,000 31,400,000 1,600,000 103,200,000 8,200,000 -42,800,000 47,700,000 92,100,000 488,300,000 -500,000 
          share-based payments
        		1,900,000 -43,000,000 59,700,000 59,700,000 -3,900,000 2,400,000 -41,400,000 57,000,000 57,000,000 41,600,000 11,300,000 200,000 15,000,000 15,000,000 1,700,000 300,000 -400,000 13,500,000 3,600,000 300,000 900,000 9,700,000   
          loss on unrealized foreign exchange
        		 -258,900,000 -6,600,000                      
          loss on sale of property and equipment
        		 -7,200,000 4,400,000    2,300,000 -2,100,000     100,000  20,500,000 -3,100,000   -2,500,000 1,500,000 -600,000 800,000   
          current income tax (recovery) expense
        		              300,000          
          deferred tax expense
        		  762,000,000 762,000,000                     
          interest paid in cash
        		 124,400,000 -188,700,000 -188,700,000                61,300,000 -93,000,000 -42,000,000 -396,300,000  
          income taxes paid in cash
        		 3,700,000 -4,600,000 -4,600,000 21,300,000 -24,700,000 -2,700,000 -1,900,000 -1,900,000 101,100,000 -242,000,000 -6,900,000 -2,000,000 -2,000,000 300,000 16,500,000 -18,700,000 -400,000  -4,800,000 -600,000 -200,000   
          changes in non-cash working capital items
        		 -70,800,000 -41,500,000 -41,500,000 188,800,000 38,300,000 -23,500,000 -53,200,000 -53,200,000 187,700,000 129,600,000 -50,900,000 -65,800,000 -65,800,000 156,500,000 50,000,000 -21,200,000 -69,600,000  -64,100,000 24,200,000 -34,100,000 -4,100,000  
          landfill closure and post-closure expenditures
        		 -3,700,000 -2,000,000 -2,000,000 -3,800,000 -7,400,000 -3,200,000 -2,200,000 -2,200,000 -14,000,000 -2,100,000 -900,000 -2,900,000 -2,900,000 2,900,000 -6,400,000 -2,000,000 -2,900,000 3,200,000 -6,200,000 -6,500,000 -2,100,000 -52,800,000  
          investing activities
        		                        
          purchase of property and equipment
        		 25,600,000 -314,600,000 -314,600,000 -36,100,000 17,300,000 -2,100,000 -296,300,000 -296,300,000 51,000,000        -203,200,000       
          proceeds on disposal of assets and other
        		-6,500,000     32,200,000                   
          proceeds from divestitures
        		 -6,038,700,000 5,929,600,000 5,929,600,000                     
          business acquisitions and investments, net of cash acquired
        		 196,100,000 -241,000,000 -241,000,000 26,100,000 377,700,000 -328,200,000 -111,600,000 -111,600,000 94,500,000               
          distribution received from associates and joint ventures
        		                        
          financing activities
        		                        
          repayment of lease obligations
        		 -4,800,000 -25,600,000 -25,600,000 40,500,000 -16,400,000 13,100,000 -37,700,000 -37,700,000 -15,800,000 -10,000,000 -3,000,000 -17,800,000 -17,800,000 -1,200,000 1,600,000 -1,800,000 -16,600,000 7,600,000 200,000 -7,600,000 -14,800,000   
          issuance of long-term debt
        		802,000,000 -544,600,000 706,900,000 706,900,000 319,400,000 -1,051,700,000 903,100,000 578,800,000 578,800,000 871,200,000 -16,300,000 207,500,000 877,800,000 877,800,000 55,300,000 -897,600,000 814,100,000 238,500,000 -1,642,900,000 534,900,000 866,500,000 447,400,000 3,637,000,000 245,700,000 
          repayment of long-term debt
        		 3,628,600,000 -3,723,800,000 -3,723,800,000 -489,100,000 594,400,000 -584,400,000 -463,200,000 -463,200,000 -1,355,800,000 2,218,400,000 -2,076,300,000 -554,300,000 -554,300,000 -276,000,000 340,700,000 -214,100,000 -166,900,000 -592,900,000 860,500,000 -488,300,000 -418,500,000 -6,170,600,000  
          proceeds from termination of hedged arrangements
        		  28,000,000 28,000,000         17,300,000 17,300,000           
          payment for termination of hedged arrangements
        		                        
          payment of contingent purchase consideration and holdbacks
        		 2,200,000 -2,400,000 -2,400,000 7,700,000 9,200,000 -17,100,000 -1,200,000 -1,200,000 -26,000,000 900,000 1,000,000 -2,500,000 -2,500,000 -2,500,000   -10,200,000       
          repurchase of subordinate voting shares
        		   -2,134,600,000                     
          dividends issued and paid
        		 -100,000 -7,900,000 -7,900,000 -300,000 -100,000 -700,000 -6,400,000 -6,400,000 -100,000 100,000 -900,000 -5,600,000 -5,600,000 -200,000 -400,000 -300,000 -4,700,000 -400,000 100,000 -300,000 -4,200,000 -4,400,000  
          payment of financing costs
        		 -5,400,000 -100,000 -100,000 1,200,000 -2,500,000 -3,900,000 -2,400,000 -2,400,000 -800,000 -10,300,000 13,200,000 -14,100,000 -14,100,000 600,000 1,100,000 -1,700,000 -100,000  -10,600,000 -3,200,000 -3,700,000 -31,800,000  
          repayment of loan to related party
        		  -2,900,000 -2,900,000    -2,900,000 -2,900,000    -6,400,000 -6,400,000    -6,400,000    -6,400,000 -2,900,000  
          distribution to non-controlling interest
        		                        
          contribution from non-controlling interests
        		                        
          increase in cash
        		 -773,900,000 392,400,000 392,400,000 87,500,000 -106,100,000    -119,800,000 88,700,000 6,400,000 -2,400,000 -2,400,000 -170,900,000 -39,700,000 53,800,000 5,000,000 -1,778,600,000 509,500,000    426,500,000 
          changes due to foreign exchange revaluation of cash
        		 -27,000,000 11,000,000 11,000,000 -18,500,000 7,200,000    -10,700,000 -5,900,000 11,900,000 -6,700,000 -6,700,000 8,800,000 5,200,000 -11,400,000 -6,100,000 -19,600,000 30,300,000 -12,000,000 -4,300,000 -34,900,000  
          cash, beginning of period
        		-397,500,000 403,400,000 133,800,000  -34,700,000 64,200,000 -65,700,000 135,700,000  92,000,000 9,200,000 -9,100,000 82,100,000  6,800,000 41,300,000   839,100,000 299,300,000    632,500,000 
          cash, end of period
        		54,900,000 -397,500,000 537,200,000  34,300,000 -34,700,000 64,200,000 70,000,000  -38,500,000 92,000,000 9,200,000 73,000,000  -155,300,000 6,800,000    839,100,000    1,093,300,000 
          current income tax expense
        		 -28,800,000 59,700,000 59,700,000  5,800,000 -15,200,000 39,200,000 39,200,000  -324,100,000 335,000,000 7,200,000 7,200,000   -3,000,000 7,000,000 7,800,000 -4,200,000 5,500,000 2,000,000  -600,000 
          deferred tax (recovery) expense
        		                        
          distribution received from joint ventures
        		 -1,900,000 3,600,000 3,600,000  -900,000  6,300,000 6,300,000                
          gain on divestiture
        		  -4,466,800,000 -4,466,800,000        -569,500,000 -5,500,000 -5,500,000    -6,500,000 -55,000,000 4,100,000     
          proceeds from disposal of assets and other
        		  3,700,000 3,700,000 -11,700,000  -7,400,000 7,700,000 7,700,000 -19,800,000               
          repurchase of share capital, net of issuance costs
        		  -2,134,600,000                      
          share of net income of investments accounted for using the equity method
        		   51,700,000     30,600,000     21,000,000  -3,900,000         
          (gain) loss on unrealized foreign exchange
        		   -6,600,000                     
          gain on sale of property and equipment
        		   4,400,000       -200,000   100,000           
          cash, beginning of quarter
        		   133,800,000     135,700,000     82,100,000    190,400,000    27,200,000   
          cash, end of quarter
        		   537,200,000     70,000,000     73,000,000    189,300,000    11,100,000   
          1.
        		                        
          loss on unrealized foreign exchange on long-term debt and teus
        		    348,400,000 -73,400,000 -69,500,000 74,800,000 74,800,000 -115,800,000 104,000,000 -62,900,000 6,100,000  -229,000,000 84,300,000   -130,500,000 150,000,000     
          mark to market loss on purchase contracts
        		                        
          deferred tax recovery
        		    -39,800,000 72,000,000 11,500,000 -92,800,000 -92,800,000 27,700,000 67,200,000 -54,000,000 -49,300,000 -49,300,000 51,700,000 -20,500,000 -21,300,000 -30,600,000 80,500,000   -91,300,000 -363,600,000  
          interest paid in cash on amortizing notes component of teus
        		            -200,000 -200,000 100,000 200,000 100,000 -700,000       
          interest paid in cash, excluding interest paid on amortizing notes
        		    67,100,000 -57,300,000 14,900,000 -121,900,000 -121,900,000 29,200,000 -19,100,000 45,300,000 -161,000,000 -161,000,000 -3,100,000 -25,700,000 8,700,000 -96,200,000       
          repayment of amortizing notes
        		            -15,700,000 -15,700,000 -600,000 -600,000 -200,000 -14,000,000 -300,000 -800,000 600,000 -13,500,000   
          mark-to-market loss on purchase contracts
        		            104,300,000  134,900,000 195,900,000   -178,600,000 325,900,000     
          dividend received from joint ventures
        		                        
          contribution from non-controlling interest
        		            8,100,000 8,100,000           
          net loss
        		       -176,500,000       -35,400,000    167,800,000      
          decrease in cash
        		       -65,700,000 -65,700,000             -11,800,000   
          (gain) loss on sale of property and equipment
        		        -2,100,000         -1,800,000       
          impairment related to discontinued operations
        		                -91,500,000 109,800,000       
          share of net loss of investments accounted for using the equity
        		                        
          proceeds on disposal of assets
        		           1,637,100,000 13,200,000 13,200,000 23,100,000 -211,900,000 132,400,000 91,900,000 -11,900,000 35,800,000 61,600,000 3,800,000   
          purchase of property and equipment and intangible assets
        		           -7,700,000 -272,900,000 -272,900,000  -81,600,000    17,100,000 -20,500,000 -131,300,000   
          investment in joint ventures and associates
        		           -28,100,000 -4,700,000 -4,700,000 6,600,000 8,400,000 -7,400,000 -12,200,000       
          insurance proceeds related to property and equipment
        		                        
          business acquisitions, net of cash acquired
        		           195,900,000 -217,300,000 -217,300,000 -72,600,000 755,000,000 -813,200,000 -67,100,000 103,400,000 -964,900,000 -66,700,000 -68,300,000 -3,915,000,000  
          gain on unrealized foreign exchange on long-term debt and teus
        		             6,100,000    -58,700,000       
          mark-to-market gain on purchase contracts
        		             104,300,000        228,300,000   
          share of net income of investments accounted for using the equity
        		                        
          impairment and other
        		                        
          issuance of share capital, net of issuance costs
        		                        
          impairment
        		               -5,700,000         
          mark-to-market (gain) loss on purchase contracts
        		                 -174,900,000       
          impairment and other charges
        		                        
          mark-to-market loss on fuel hedges
        		                        
          prepayment penalties for early note redemption
        		                        
          income taxes received in cash
        		                        
          investment in acquisition related net working capital items
        		                        
          changes in non-cash working capital items, excluding investment in acquisition related net working capital items
        		                        
          issuance of teus, net of issuance costs
        		                        
          return of capital
        		                        
          issuance of loan from related party
        		                        
          cash, end of year
        		                        
          payment of contingent purchase consideration
        		                   -2,800,000 14,100,000 -15,000,000 -19,700,000  
          (gain) loss on unrealized foreign exchange on long-term debt and teus
        		                     -38,900,000   
          share based payments
        		                      -57,000,000 3,000,000 
          gain on unrealized foreign exchange on long-term debt
        		                        
          mark-to-market loss on fuel hedge
        		                        
          cheques issued in excess of cash on hand
        		                        
          income taxes refund received in cash
        		                        
          cash released from escrow for acquisitions
        		                        
          cash, beginning of year
        		                        
          depreciation and amortization of property, plant and equipment
        		                       1,000,000 
          loss on unrealized foreign exchange on long-term debt
        		                        
          loss on sale of property, plant and equipment
        		                       -200,000 
          mark-to-market loss on teu purchase contract
        		                        
          proceeds on sale of property, plant and equipment
        		                       2,100,000 
          purchase of property, plant and equipment and intangible assets
        		                        
          issuance of tangible equity units, net of issuance costs
        		                        
          repayment of tangible equity unit amortizing note
        		                        
          supplementary information
        		                        
          business acquisitions financed through issuance of share capital
        		                        
          asset additions financed through leases