Waste Connections, Inc
(NYSE:WCN)

Waste Connections, Inc. provides waste collection, transfer, disposal, and recycling services in the United States and Canada. The company operates through five segments: Southern, Western, Eastern, Canada, Central, and Corporate. It offers collection services to residential, commercial, municipal, ...

Website: http://www.wasteconnections.com

Founded: 2000

Full Time Employees: 18,204

Sector: Industrials

Industry: Waste Management

Waste Management Canadian

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At a glance:

Bull Thesis:

Bear Thesis:

Main Competitors:

Moat:

Income Statements:

Quarterly

Annual

Unit: USD	2025-09-30	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	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2010-04-27	2009-10-30	2009-09-30	2009-07-29	2009-07-16

revenues	2,458,378,000	2,407,055,000	2,228,176,000	2,260,283,000	2,338,488,000	2,248,166,000	2,072,653,000	2,035,609,000	2,064,744,000	2,021,095,000	1,900,503,000	1,869,301,000	1,879,868,000	1,816,435,000	1,646,255,000	1,624,319,000	1,597,168,000	1,533,931,000	1,395,942,000	1,398,251,000	1,389,552,000	1,305,782,000	1,352,404,000	1,361,960,000	1,412,444,000	1,369,639,000	1,244,637,000	1,261,732,000	1,281,110,000	1,239,968,000	1,140,131,000	1,157,175,000	1,206,478,000	1,175,569,000	1,091,266,000	1,048,622,000	1,084,922,000	727,639,000	264,042,000		268,411,000	253,700,000	223,893,000
operating expenses:
cost of operations	1,406,854,000	1,392,857,000	1,291,443,000	1,324,774,000	1,344,079,000	1,301,070,000	1,221,783,000	1,195,620,000	1,204,603,000	1,197,349,000	1,146,941,000	1,137,973,000	1,120,629,000	1,087,892,000	989,518,000	980,865,000	946,098,000	901,191,000	825,920,000	846,851,000	828,822,000	785,710,000	815,424,000	814,150,000	835,098,000	815,819,000	733,690,000	744,757,000	736,122,000	725,022,000	659,803,000	680,373,000	695,122,000	685,900,000	643,380,000	617,948,000	636,310,000	416,262,000
selling, general and administrative	236,476,000	242,966,000	250,134,000	211,335,000	222,526,000	228,848,000	220,735,000	192,752,000	196,316,000	216,385,000	193,667,000	177,762,000	186,887,000	168,404,000	163,414,000	157,452,000	155,520,000	157,943,000	141,422,000	133,419,000	136,003,000	132,158,000	136,052,000	136,146,000	137,883,000	139,664,000	132,586,000	125,806,000	139,014,000	128,261,000	131,308,000	126,038,000	128,200,000	126,350,000	129,051,000	124,268,000	129,576,000	152,737,000			33,272,000	32,600,000
depreciation	263,999,000	257,421,000	242,307,000	261,609,000	248,473,000	241,229,000	222,691,000	213,291,000	214,966,000	213,322,000	204,059,000	201,111,000	193,287,000	188,937,000	179,950,000	175,142,000	171,965,000	169,221,000	157,402,000	161,461,000	157,590,000	151,230,000	150,821,000	156,780,000	157,994,000	156,776,000	146,847,000	148,842,000	148,232,000	142,450,000	133,185,000	135,179,000	136,941,000	132,827,000	125,240,000	122,612,000	125,744,000	84,348,000
amortization of intangibles	51,331,000	50,236,000	47,642,000	60,184,000	45,170,000	44,124,000	40,290,000	39,833,000	39,405,000	39,052,000	39,282,000	41,719,000	38,859,000	37,462,000	37,635,000	39,042,000	35,337,000	32,707,000	32,192,000	35,240,000	32,653,000	31,771,000	31,638,000	31,701,000	31,934,000	31,344,000	30,542,000	28,335,000	26,871,000	26,474,000	26,098,000	25,411,000	26,613,000	24,762,000	25,510,000	21,593,000	26,944,000	14,081,000
impairments and other operating items	60,127,000	4,030,000	6,440,000	601,571,000	2,897,000	8,190,000	354,000	169,595,000	56,477,000	10,859,000	1,865,000	-1,237,000	13,438,000	4,150,000	1,878,000	22,497,000	3,104,000	6,081,000	634,000	24,136,000	3,805,000	437,270,000	1,506,000	28,999,000	12,935,000	3,902,000	16,112,000	14,012,000	-1,998,000	7,073,000	1,030,000	15,160,000	832,000	-1,180,000	141,681,000	23,044,000	7,682,000
operating income	439,591,000	459,545,000	390,210,000	-199,190,000	475,343,000	424,705,000	366,800,000	224,518,000	352,977,000	344,128,000	314,689,000	311,973,000	326,768,000	329,590,000	273,860,000	249,321,000	285,144,000	266,788,000	238,372,000	197,144,000	230,679,000	-232,357,000	216,963,000	194,184,000	236,600,000	222,134,000	184,860,000	199,980,000	232,869,000	210,688,000	188,707,000	175,014,000	218,770,000	206,910,000	26,404,000	139,157,000	158,666,000	63,495,000	33,727,000		36,998,000	31,349,000	25,037,000
yoy	-7.52%	8.20%	6.38%	-188.72%	34.67%	23.41%	16.56%	-28.03%	8.02%	4.41%	14.91%	25.13%	14.60%	23.54%	14.89%	26.47%	23.61%	-214.82%	9.87%	1.52%	-2.50%	-204.60%	17.37%	-2.90%	1.60%	5.43%	-2.04%	14.27%	6.44%	1.83%	614.69%	25.77%	37.88%	225.87%	-21.71%		328.85%	102.54%	34.71%
qoq	-4.34%	17.77%	-295.90%	-141.90%	11.92%	15.79%	63.37%	-36.39%	2.57%	9.35%	0.87%	-4.53%	-0.86%	20.35%	9.84%	-12.56%	6.88%	11.92%	20.91%	-14.54%	-199.28%	-207.10%	11.73%	-17.93%	6.51%	20.16%	-7.56%	-14.12%	10.53%	11.65%	7.82%	-20.00%	5.73%	683.63%	-81.03%	-12.30%	149.89%	88.26%			18.02%	25.21%

interest expense	-84,449,000	-82,751,000	-80,875,000	-82,419,000	-83,520,000	-82,377,000	-78,488,000	-69,728,000	-69,016,000	-67,545,000	-68,353,000	-64,766,000	-51,161,000	-45,079,000	-41,324,000	-38,625,000	-40,418,000	-41,328,000	-42,425,000	-42,813,000	-40,636,000	-40,936,000	-37,990,000	-36,055,000	-36,780,000	-37,245,000	-37,287,000	-35,230,000	-32,078,000	-32,426,000	-32,370,000	-32,534,000	-32,471,000	-31,160,000	-29,131,000	-27,418,000	-27,621,000	-20,485,000
interest income	5,090,000	2,314,000	1,770,000	2,216,000	3,331,000	4,009,000	2,051,000	2,464,000	2,833,000	1,338,000	2,715,000	3,376,000	1,784,000	652,000	137,000	574,000	495,000	744,000	1,103,000	857,000	903,000	1,317,000	2,175,000	2,591,000	2,056,000	1,818,000	3,311,000	3,493,000	1,467,000	1,056,000	1,155,000	2,042,000	1,656,000
other income	14,542,000	10,050,000	1,872,000	-2,256,000	4,904,000	9,647,000	-1,823,000	4,135,000	5,372,000	-200,000	3,174,000	781,000	8,487,000	-2,649,000	-3,466,000	833,000	3,140,000	-1,235,000	3,548,000	1,654,000	702,000	5,772,000	-9,521,000	1,142,000	-19,000	805,000	2,558,000	-1,113,000	732,000	2,031,000	-387,000	175,000	1,709,000	1,860,000	1,466,000	476,000	671,000	-714,000
income before income tax provision	374,774,000	389,158,000	312,977,000	261,145,500	400,058,000	355,984,000	288,540,000	205,528,000	292,166,000	277,721,000	252,225,000	199,399,750	285,878,000	282,514,000	229,207,000	139,659,750	133,073,000	224,969,000	200,598,000	156,842,000	191,648,000	-266,204,000	171,627,000	161,862,000	201,857,000	188,627,000	153,545,000	166,020,000	202,858,000	181,379,000	156,884,000	145,999,000	187,800,000	176,562,000	-1,851,000	112,997,000	131,366,000	42,985,000
income tax provision	-88,503,000	-98,882,000	-71,467,000	85,645,000	-92,012,000	-80,584,000	-59,413,000	-34,760,000	-62,975,000	-68,551,000	-54,389,000	-57,063,000	-48,753,000	-58,307,000	-48,839,000	-45,675,000	-18,419,000		-40,291,000	-5,913,500	-33,657,000		-28,734,000	-27,634,750	-42,783,000	-39,788,000	-27,968,000	-31,627,250	-52,092,000	-42,565,000		-25,055,000	-64,390,000	-52,675,000				-15,265,000
net income	286,271,000	290,276,000	241,510,000	-196,004,000	308,046,000	275,400,000	229,127,000	126,629,000	229,191,000	209,170,000	197,836,000	194,301,000	237,125,000	224,207,000	180,368,000	166,428,000	114,654,000	177,101,000	160,307,000	130,574,000	157,991,000	-227,467,000	142,893,000	133,191,000	159,074,000	148,839,000	125,577,000	132,543,000	150,766,000	138,814,000	125,032,000	315,129,000	123,410,000	123,887,000	15,020,000	85,703,000	88,881,000	27,720,000	16,710,000		19,109,000	15,105,000	9,639,000
yoy	-7.07%	5.40%	5.40%	-254.79%	34.41%	31.66%	15.82%	-34.83%	-3.35%	-6.71%	9.68%	16.75%	106.82%	26.60%	12.51%	27.46%	-27.43%	-177.86%	12.19%	-1.96%	-0.68%	-252.83%	13.79%	0.49%	5.51%	7.22%	0.44%	-57.94%	22.17%	12.05%	732.44%	267.70%	38.85%	346.92%	-10.11%		365.13%	83.52%	73.36%
qoq	-1.38%	20.19%	-223.22%	-163.63%	11.85%	20.20%	80.94%	-44.75%	9.57%	5.73%	1.82%	-18.06%	5.76%	24.31%	8.38%	45.16%	-35.26%	10.48%	22.77%	-17.35%	-169.46%	-259.19%	7.28%	-16.27%	6.88%	18.52%	-5.26%	-12.09%	8.61%	11.02%	-60.32%	155.35%	-0.39%	724.81%	-82.47%	-3.58%	220.64%	65.89%			26.51%	56.71%
plus: net loss attributable to noncontrolling interests
net income attributable to waste connections	286,271,000	290,276,000	241,510,000	-196,004,000	308,046,000	275,477,000	230,054,000	126,753,000	229,026,000	209,208,000	197,813,000	194,352,000	236,912,000	224,074,000	180,324,000	166,311,000	114,381,000	177,047,000	160,309,000	130,665,000	158,049,000	-227,072,000	143,035,000	133,262,000	159,109,000	148,848,000	125,622,000	132,478,000	150,843,000	138,682,000	124,869,000	315,085,000	123,227,000	123,656,000	14,874,000	85,592,000	88,617,000	27,489,000
earnings per common share attributable to waste connections’ common shareholders:
basic	1,110	1,120	940	787.5	1,190	1,070	890	617.5	890	810	770	622.5	920	870	700	432.5	440	680	610	500	600	-860	540	510	600	560	480	500	570	530	470	1,200	470	470	80	510	510	200
diluted	1,110	1,120	930	787.5	1,190	1,070	890	615	890	810	770	622.5	920	870	690	430	440	680	610	500	600	-860	540	500	600	560	480	500	570	520	470	1,190	470	470	80	500	500	200
shares used in the per share calculations:
basic	256,948,902	258,377,345	258,193,975	64,484,983.75	258,023,661	257,994,105	257,801,116	64,383,852	257,633,703	257,596,993	257,372,942	64,359,689	257,197,010	257,179,434	258,946,933	65,343,206.75	260,550,774	260,951,405	262,697,487	-63,388	262,998,317	262,994,275	263,790,364	24,435	263,853,681	263,846,970	263,603,418	-7,119	263,628,838	263,691,172	263,827,963	383,769	263,443,064	263,387,338	175,374,630	7,335,456	175,336,967	140,203,557
diluted	257,580,321	258,982,647	258,904,806	64,650,453.75	258,756,528	258,565,246	258,482,473	64,527,621	258,229,404	258,110,491	257,988,971	64,515,187.75	257,891,635	257,736,745	259,560,983	65,469,938.5	261,145,220	261,418,573	263,156,655	-30,462	263,507,486	262,994,275	264,353,158	53,216	264,587,456	264,494,943	264,336,930	19,298	264,394,757	264,332,029	264,588,069	193,028	264,299,472	264,109,594	175,935,482	7,344,551	175,766,759	140,587,155
cash dividends per common share	0.315	0.315	0.315	0.214	0.285	0.285	0.285	0.191	0.255	0.255	0.255	0.173	0.23	0.23	0.23	0.154	0.205	0.205	0.205	0.205	0.185	0.185	0.185	0.185	0.16	0.16	0.16	0.16	0.14	0.14	0.14	0.14	0.12	0.12	0.18	0.18	0.145	0.145
plus (less): net income (income) attributable to noncontrolling interests				250,750			927,000			38,000					-44,000	-81,250	-273,000	-54,000						22,250	35,000	9,000	45,000	-54,500	77,000
plus: net income attributable to noncontrolling interests						77,000													2,000	148,500	58,000	395,000	142,000
less: net income attributable to noncontrolling interests								-37,500	-165,000		-23,000	-97,500	-213,000	-133,000																-132,000	-163,000	-44,000	-183,000	-231,000	-146,000	-111,000	-264,000	-231,000
loss on early extinguishment of debt																	-115,288,000
income tax benefit																		-47,868,000				38,737,000									-31,852,000				16,871,000	-27,294,000	-42,485,000
foreign currency transaction gain																										1,115,000	103,000			30,000		1,302,000	-1,864,000	-1,048,000		782,000	-350,000	689,000
foreign currency transaction loss																												-80,750	-132,000		-221,000				-590,000
other comprehensive income, before tax:
interest rate swap amounts reclassified into interest expense																															-599
fuel hedge amounts reclassified into cost of operations																															-1,148
changes in fair value of interest rate swaps																															11,769
changes in fair value of fuel hedges																															615
foreign currency translation adjustment																															-59,331								5,347,000				20,062,000
other comprehensive income, before tax																															-48,694
income tax benefit related to items of other comprehensive income																															-2,826
other comprehensive income, net of tax																															-51,520
comprehensive income																															73,512								22,128,000				28,587,000
less: comprehensive income attributable to noncontrolling interests																															-163
comprehensive income attributable to waste connections																															73,349
other operating items																																						-3,284,000
expenses
operating																																							151,069,000				131,177,000
selling, general and administration																																							39,791,000				30,077,000
amortization																																							39,517,000		41,946,000	41,154,000	37,602,000
net gain on sale of capital and landfill assets																																							-62,000		-13,000	19,000
interest on long-term debt																																							7,937,000		7,851,000	8,766,000	9,629,000
net foreign exchange loss																																							30,000
net loss on financial instruments																																							-542,000
other expenses																																							24,000
income before income taxes and loss from equity accounted investee																																							26,278,000
income tax expense																																									9,548,000	8,917,000
current																																							7,678,000				2,504,000
deferred																																							1,865,000				2,755,000
loss from equity accounted investee																																							25,000
other comprehensive income
commodity swaps designated as cash flow hedges, net of income tax																																							166,000
settlement of commodity swaps designated as cash flow hedges, net of income tax																																							-95,000
net income - controlling interest																																							14,734,000
net income - non-controlling interest																																							1,976,000				1,368,000
comprehensive income - controlling interest																																							19,512,000				24,530,000
comprehensive income - non-controlling interest																																							2,616,000				4,057,000
net income per weighted-average share, basic and diluted																																							180
weighted average number of shares outstanding (thousands), basic																																							82,344,000
weighted average number of shares outstanding (thousands), diluted																																							93,431,000
net income — attributable to common share or trust unitholders
weighted-average number of shares or trust units, basic
dilutive effect of ppss
weighted-average number of shares or trust units, diluted
net income per weighted-average share or trust unit, basic																																									200	190
net income per weighted-average share or trust unit, diluted																																									200	180
issued and outstanding share based options
15.
16.
operating results
operating expenses																																									156,195,000	148,597,000
net foreign exchange gain																																									61,000	93,000
net gain on financial instruments																																									305,000		530,000
conversion costs																																									93,000	115,000
other incomes																																									44,000	35,000	30,000
income before income taxes																																									28,657,000	24,022,000	14,898,000
weighted-average number of shares or trust units
outstanding (thousands), basic																																									82,294,000	70,809,000
outstanding (thousands), diluted																																									93,431,000	81,946,000
replacement and growth expenditures
replacement expenditures																																									19,322,000
growth expenditures																																									8,839,000
total replacement and growth expenditures																																									28,161,000	39,217,000
operating and free cash flow
cash generated from operating activities																																									76,597,000	66,456,000
free cash flow																																									38,504,000	21,476,000
free cash flow(b) per weighted-average share or trust unit
outstanding, diluted																																									410	260
dividends and distributions
dividends and distributions declared																																									18,546,000	17,495,000
dividends declared																																									2,523,000	2,381,000
total dividends and distributions declared																																									21,069,000	19,876,000
total dividends or distributions declared per weighted-average
share or trust unit, diluted																																									230	240
net (gain) loss on financial instruments																																										-1,701,000
replacement capital and landfill purchases ("replacement
expenditures")																																										16,983,000
growth capital and landfill purchases																																										22,234,000
free cash flow (b) per weighted-average share or trust unit
net foreign exchange (gain) loss																																											84,000
commodity swaps designated as cash flow hedges, net of tax
net income controlling interest																																											8,271,000
net income per share																																											0.14
weighted-average number of shares or trust units outstanding (thousands), basic																																											59,516
weighted-average number of shares or trust units outstanding (thousands), diluted																																											70,653
net (gain) loss on sale of capital and landfill assets
net income on financial instruments																																											9,990
future

Balance Sheets:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	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	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-04-27	2016-03-31	2016-02-24	2015-12-31	2015-10-30	2015-09-30	2015-06-30	2015-04-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-09-30	2010-06-30	2010-06-02	2010-04-27	2010-03-31

assets																																																																	3,463,000
current assets:
cash and equivalents	112,447,000	45,968,000	117,596,000	110,166,000	111,226,000	62,366,000	115,265,000	78,658,000	111,985,000	78,399,000	96,187,000	91,712,000	133,860,000	78,637,000	200,179,000	217,808,000	391,417,000	147,441,000	339,479,000	727,395,000	743,464,000	617,294,000	859,096,000	790,551,000	1,195,279,000	326,738,000	303,778,000	209,209,000	499,482,000	319,305,000	244,389,000	145,801,000	217,537,000	433,815,000	495,254,000	399,741,000	268,469,000	154,382,000	119,335,000	55,624,000
accounts receivable	1,033,086,000	1,024,992,000	1,069,645,000	1,031,911,000	952,010,000	935,027,000	990,896,000	961,492,000	896,682,000	856,953,000	868,093,000	855,479,000	814,680,000	833,862,000	810,932,000	797,877,000	727,737,000	709,614,000	692,051,000	649,561,000	608,758,000	630,264,000	616,630,000	608,801,000	624,389,000	662,808,000	676,676,000	663,931,000	599,369,000	609,545,000	625,048,000	604,090,000	555,285,000	554,458,000	588,534,000	547,671,000	486,413,000	485,138,000	498,291,000	502,833,000	204,969,000	204,969	207,636,000	207,636,000	210,546,000	210,546,000	216,058,000	190,778,000	190,778,000	216,201,000	219,622,000	235,887,000	205,919,000	229,548,000	240,548,000	247,961,000	235,199,000	238,958,000	234,894,000	213,670,000	198,171,000	113,636,000	115,196,000	138,586,000	107,079,000	108,059,000	131,127,000		117,367,000	58,994,000
prepaid expenses and other current assets	230,786,000	240,603,000	216,399,000	207,662,000	217,802,000	229,519,000	248,971,000	195,557,000	208,387,000	206,433,000	187,442,000	164,485,000	185,718,000	205,146,000	219,203,000	242,050,000	293,625,000	175,722,000	128,758,000	129,487,000	151,769,000	160,714,000	115,690,000	105,574,000	142,553,000	141,052,000	124,836,000	117,454,000	144,006,000	164,053,000	152,827,000	167,036,000	195,318,000	186,999,000	107,134,000	93,053,000	107,876,000	97,533,000	84,460,000	89,465,000
total current assets	1,376,319,000	1,311,563,000	1,403,640,000	1,349,739,000	1,281,038,000	1,226,912,000	1,355,132,000	1,235,707,000	1,217,054,000	1,141,785,000	1,151,722,000	1,111,676,000	1,134,258,000	1,117,645,000	1,230,314,000	1,257,735,000	1,412,779,000	1,032,777,000	1,160,288,000	1,506,443,000	1,503,991,000	1,408,272,000	1,591,416,000	1,504,926,000	1,962,221,000	1,130,598,000	1,105,290,000	990,594,000	1,242,857,000	1,092,903,000	1,023,058,000	918,375,000	969,649,000	1,176,868,000	1,192,943,000	1,049,196,000	877,343,000	832,569,000	784,633,000	734,068,000
restricted cash	210,199,000	183,612,000	172,989,000	157,305,000	138,220,000	135,807,000	123,243,000	113,748,000	105,683,000	105,639,000	102,844,000	112,623,000	106,625,000	102,727,000	108,194,000	106,736,000	71,867,000	72,174,000	118,893,000	110,367,000	105,689,000	97,095,000	96,519,000	92,873,000	88,927,000	96,483,000	92,050,000	84,527,000	85,200,000	84,661,000	83,399,000	80,045,000	77,008,000								542,000	542	542,000	542,000	542,000		542,000	521,000	521,000																		425,000	-382,000	382,000
restricted investments	80,397,000	80,757,000	80,002,000	77,784,000	74,160,000	78,126,000	79,455,000	75,490,000	74,655,000	70,350,000	75,990,000	73,075,000	74,358,000	68,099,000	55,922,000	56,234,000	59,449,000	59,014,000	58,430,000	59,825,000	56,620,000	57,516,000	47,161,000	46,391,000	45,856,000	51,179,000	50,602,000	54,515,000	47,926,000	47,486,000	44,217,000	44,049,000	44,230,000
property and equipment	8,714,069,000	8,733,327,000	8,422,847,000	8,380,628,000	8,222,980,000	8,035,929,000	8,234,162,000	7,896,221,000	7,827,304,000	7,228,331,000	7,096,769,000	7,030,118,000	6,956,620,000	6,950,915,000	6,353,367,000	5,858,175,000	5,770,931,000	5,721,949,000	5,414,789,000	5,249,904,000	5,232,682,000	5,284,506,000	5,193,378,000	5,045,872,000	5,415,989,000	5,516,347,000	5,375,166,000	5,318,196,000	5,119,785,000	5,168,996,000	5,069,767,000	5,024,868,000	4,924,263,000	4,820,934,000	4,783,928,000	4,729,335,000	4,721,669,000	4,738,055,000	4,773,096,000	4,788,084,000
operating lease right-of-use assets	324,034,000	312,508,000	316,106,000	325,050,000	311,563,000	308,198,000	311,717,000	296,092,000	273,371,000	261,782,000	263,491,000	248,967,000	195,030,000	192,506,000	190,860,000	167,099,000	162,332,000	160,567,000	162,640,000	169,523,000	174,635,000	170,923,000	168,974,000	173,905,000	176,772,000	183,220,000	189,697,000	194,361,000	199,703,000
goodwill	8,414,577,000	8,392,249,000	8,275,386,000	8,220,824,000	8,055,979,000	7,950,406,000	7,922,757,000	7,704,719,000	7,597,175,000	7,404,400,000	7,313,084,000	6,992,466,000	6,940,567,000	6,902,297,000	6,574,860,000	6,457,910,000	6,427,763,000	6,187,643,000	6,006,533,000	5,818,749,000	5,754,101,000	5,726,650,000	5,534,567,000	5,488,305,000	5,385,841,000	5,510,851,000	5,297,556,000	5,316,670,000	5,065,530,000	5,031,685,000	4,813,296,000	4,772,966,000	4,772,949,000	4,681,774,000	4,688,348,000	4,589,573,000	4,529,645,000	4,390,261,000	4,351,170,000	4,299,463,000	907,450,000	907,450	886,911,000	886,911,000	872,412,000	872,412,000	889,987,000	884,297,000	884,297,000	937,294,000	897,574,000	916,111,000	901,810,000	905,347,000	918,330,000	909,184,000	922,024,000	929,114,000	840,437,000	793,948,000	781,747,000	372,596,000	364,741,000	390,886,000	387,773,000	275,642,000	640,308,000	50,326,000	72,304,000	72,304,000
intangible assets	1,959,957,000	2,006,200,000	2,003,600,000	2,062,045,000	2,067,264,000	1,991,619,000	1,982,809,000	1,894,860,000	1,877,226,000	1,603,541,000	1,618,692,000	1,659,645,000	1,697,193,000	1,673,917,000	1,489,242,000	1,400,249,000	1,388,687,000	1,350,597,000	1,264,728,000	1,102,516,000	1,125,894,000	1,155,079,000	1,127,279,000	1,152,303,000	1,120,197,000	1,163,063,000	1,097,036,000	1,124,107,000	1,105,553,000	1,128,628,000	1,069,064,000	1,085,775,000	1,077,560,000	1,087,436,000	1,108,961,000	1,083,787,000	1,097,962,000	1,067,158,000	1,164,308,000	1,160,484,000
other assets	106,803,000	109,147,000	107,925,000	105,235,000	103,293,000	90,812,000	86,089,000	84,689,000	110,192,000	100,048,000	108,648,000	130,957,000	122,443,000	126,497,000	127,909,000	112,103,000	120,554,000	115,203,000	88,531,000	88,880,000	89,317,000	92,323,000	90,153,000	89,430,000	83,608,000	85,954,000	62,838,000	62,802,000	65,374,000	72,970,000	88,520,000	86,819,000	85,292,000	68,032,000	64,284,000	63,631,000	64,618,000	67,664,000	51,172,000	48,468,000	15,000	15	759,000	759,000	112,000		5,588,000	1,270,000	1,270,000																		80,000		831,000
total assets	21,186,355,000	21,129,363,000	20,782,495,000	20,678,610,000	20,254,497,000	19,817,809,000	20,095,364,000	19,301,526,000	19,082,660,000	17,915,876,000	17,731,240,000	17,359,527,000	17,227,094,000	17,134,603,000	16,130,668,000	15,416,241,000	15,414,362,000	14,699,924,000	14,274,832,000	14,106,207,000	14,042,929,000	13,992,364,000	13,849,447,000	13,594,005,000	14,279,411,000	13,737,695,000	13,270,235,000	13,145,772,000	12,931,928,000												3,307,877,000	3,307,877	3,244,909,000	3,244,909,000	3,183,016,000		3,275,578,000	3,210,866,000	3,210,866,000																			428,391,000	552,443,000
liabilities and shareholders' equity
current liabilities:
accounts payable	712,423,000	765,227,000	759,271,000	729,886,000	625,582,000	637,371,000	706,284,000	663,159,000	589,861,000	642,455,000	604,542,000	539,216,000	526,229,000	638,728,000	507,899,000	496,622,000	423,175,000	392,868,000	341,211,000	326,085,000	280,025,000	290,820,000	403,946,000	367,355,000	398,523,000	436,970,000	428,492,000	408,229,000	339,261,000	359,967,000	331,535,000	343,870,000	287,894,000	330,523,000	276,970,000	239,150,000	247,676,000	251,253,000	247,295,000	243,215,000	93,588,000	93,588	98,614,000	98,614,000	88,629,000		98,583,000	74,443,000	74,443,000																		59,607,000	62,753,000	53,222,000
book overdraft	8,560,000	14,674,000	14,292,000	15,024,000	14,518,000	14,628,000	14,568,000	16,204,000	14,584,000	14,855,000	15,782,000	15,411,000	21,067,000	15,645,000	10,734,000	16,668,000	16,809,000	16,721,000	16,527,000	16,902,000	234,000	17,079,000	15,092,000	15,348,000	12,105,000	15,954,000	20,429,000	17,984,000	15,734,000	18,518,000	19,087,000	18,041,000	18,965,000	19,223,000	24,923,000	30,585,000	31,027,000	10,955,000	18,363,000	14,341,000
deferred revenue	424,835,000	416,025,000	411,579,000	412,417,000	404,382,000	382,501,000	377,475,000	375,626,000	370,380,000	355,203,000	342,726,000	341,408,000	336,613,000	325,002,000	306,019,000	305,724,000	293,729,000	273,720,000	254,135,000	250,254,000	243,712,000	233,596,000	216,675,000	214,478,000	210,668,000	216,443,000	200,677,000	199,401,000	181,950,000	179,282,000	162,965,000	162,463,000	156,528,000	145,197,000	142,787,000	140,070,000	139,017,000	134,081,000	130,724,000	134,257,000
accrued liabilities	745,013,000	810,367,000	762,137,000	705,551,000	690,222,000	736,824,000	552,741,000	569,732,000	507,259,000	521,428,000	446,436,000	452,949,000	390,195,000	431,247,000	457,904,000	417,725,000	396,292,000	442,596,000	448,541,000	411,333,000	399,470,000	404,923,000	400,293,000	341,333,000	297,266,000	281,308,000	299,139,000	274,478,000	264,706,000	289,544,000	287,369,000	257,874,000	260,542,000	278,039,000	347,439,000	270,621,000	260,603,000	269,402,000	266,906,000	269,334,000
current portion of operating lease liabilities	46,335,000	44,272,000	42,681,000	41,762,000	39,857,000	40,490,000	39,618,000	38,434,000	36,430,000	32,533,000	32,677,000	32,747,000	34,078,000	35,170,000	34,526,000	35,101,000	35,079,000	38,017,000	37,236,000	37,352,000	35,699,000	30,671,000	30,196,000	30,933,000	29,741,000	29,929,000	30,162,000	30,255,000	29,810,000
current portion of contingent consideration	61,945,000	65,029,000	89,044,000	87,800,000	47,261,000	59,169,000	55,474,000	97,253,000	96,931,000	94,996,000	100,813,000	71,065,000	64,489,000	60,092,000	54,867,000	59,371,000	64,480,000	62,804,000	42,359,000	43,359,000	42,360,000	43,297,000	62,492,000	62,213,000	37,549,000	26,159,000	12,393,000	11,773,000	11,650,000	11,612,000	11,612,000	11,688,000	14,462,000	15,803,000	13,819,000	27,097,000	27,562,000	21,453,000	24,338,000	21,920,000
current portion of long-term debt and notes payable	8,355,000	8,667,000	8,619,000	8,759,000	7,657,000	7,851,000	7,873,000	10,058,000	16,096,000	26,462,000	32,760,000	10,699,000	10,513,000	6,759,000	6,718,000	6,342,000	28,070,000	6,020,000	5,289,000	6,997,000	105,386,000	8,268,000	6,772,000	7,658,000	4,318,000	465,000	502,000	798,000	1,016,000	1,786,000	1,753,000	1,690,000	1,675,000	11,659,000	11,596,000	11,511,000	11,439,000	1,650,000	1,624,000	1,575,000
total current liabilities	2,007,466,000	2,124,261,000	2,087,623,000	2,001,199,000	1,829,479,000	1,878,834,000	1,754,033,000	1,770,466,000	1,631,541,000	1,687,932,000	1,575,736,000	1,463,495,000	1,383,184,000	1,512,643,000	1,378,667,000	1,337,553,000	1,257,634,000	1,232,746,000	1,145,298,000	1,092,282,000	1,106,886,000	1,028,654,000	1,135,466,000	1,039,318,000	990,170,000	1,007,228,000	991,794,000	942,918,000	844,127,000	860,709,000	815,249,000	797,670,000	742,137,000	802,599,000	819,789,000	725,399,000	725,122,000	692,177,000	689,250,000	684,642,000
long-term portion of debt and notes payable	9,093,831,000	8,811,104,000	8,621,371,000	8,337,178,000	8,388,364,000	8,072,928,000	8,160,538,000	7,696,229,000	7,795,191,000	6,724,771,000	6,803,439,000	6,681,384,000	6,921,839,000	6,890,149,000	6,211,971,000	5,633,524,000	5,817,641,000	5,040,500,000	4,869,213,000	4,762,857,000	4,613,602,000	4,708,678,000	4,680,219,000	4,694,736,000	5,160,735,000	4,353,782,000	4,039,405,000
long-term portion of operating lease liabilities	278,167,000	267,000,000	270,414,000	279,115,000	266,675,000	272,107,000	275,547,000	270,281,000	249,419,000	238,440,000	239,768,000	224,566,000	169,051,000	165,462,000	163,848,000	139,191,000	134,392,000	129,628,000	132,589,000	139,329,000	146,018,000	147,223,000	145,642,000	149,763,000	153,640,000	160,033,000	166,347,000	170,829,000	176,328,000
long-term portion of contingent consideration	19,216,000	19,667,000	20,080,000	20,272,000	28,001,000	27,993,000	27,125,000	20,806,000	20,802,000	20,034,000	21,195,000	21,344,000	21,333,000	21,323,000	30,896,000	31,264,000	31,558,000	31,504,000	24,592,000	24,670,000	24,618,000	28,439,000	26,030,000	25,801,000	30,050,000	42,825,000	44,561,000	45,227,000	44,686,000	43,003,000	43,412,000	43,300,000	43,199,000	31,482,000	31,136,000	31,218,000	30,765,000	30,373,000	27,351,000	34,604,000
deferred income taxes	1,113,470,000	1,085,613,000	1,067,840,000	1,035,413,000	1,011,613,000	958,340,000	1,099,369,000	1,068,671,000	1,052,508,000	1,022,480,000	1,048,283,000	1,048,986,000	1,041,152,000	1,013,742,000	986,252,000	994,766,000	1,002,800,000	850,921,000	777,968,000	772,867,000	776,498,000	760,044,000	725,343,000	728,730,000	817,331,000	818,622,000	800,223,000	783,609,000	766,641,000	760,033,000	741,300,000	718,627,000	711,241,000	690,767,000	829,087,000	822,209,000	812,648,000	89,177,000	82,547,000	86,146,000	120,747,000	120,747	129,970,000	129,970,000	121,244,000		123,127,000	125,098,000	125,098,000																		88,275,000	-3,337,000	83,505,000
other long-term liabilities	616,586,000	576,337,000	621,799,000	651,776,000	716,185,000	747,253,000	517,297,000	491,855,000	542,239,000	524,438,000	451,524,000	460,295,000	451,571,000	417,640,000	415,664,000	410,281,000	411,278,000	421,080,000	442,016,000	445,602,000	433,434,000	455,888,000	470,558,000	459,276,000	440,399,000	416,851,000	431,565,000	412,508,000	374,391,000	349,931,000	339,817,000	325,459,000	307,205,000	316,191,000	310,646,000	304,179,000	301,038,000	331,074,000	329,058,000	317,332,000
total liabilities	13,128,736,000	12,883,982,000	12,689,127,000	12,324,953,000	12,240,317,000	11,957,455,000	11,833,909,000	11,318,308,000	11,291,700,000	10,218,095,000	10,139,945,000	9,900,070,000	9,988,130,000	10,020,959,000	9,187,298,000	8,546,579,000	8,655,303,000	7,706,379,000	7,391,676,000	7,237,607,000	7,101,056,000	7,128,926,000	7,183,258,000	7,097,624,000	7,592,325,000	6,799,341,000	6,473,895,000	6,437,967,000	6,363,254,000	6,167,141,000	5,686,987,000	5,677,903,000	5,682,480,000	5,740,611,000	5,916,419,000	5,847,377,000	5,816,200,000	5,538,225,000	5,566,327,000	5,535,831,000	2,173,337,000	2,173,337	2,116,012,000	2,116,012,000	2,073,998,000		2,148,803,000	2,036,978,000	2,036,978,000
commitments and contingencies
shareholders' equity:
common shares: unlimited shares authorized; 254,260,257 shares issued and 254,213,909 shares outstanding at march 31, 2026; 255,661,011 shares issued and 255,614,663 shares outstanding at december 31, 2025	2,502,503,000
additional paid-in capital	366,546,000	373,239,000	354,567,000	335,939,000	318,350,000	325,928,000	310,046,000	290,792,000	272,450,000	284,284,000	270,104,000	255,667,000	238,484,000	244,076,000	229,445,000	210,767,000	196,385,000	199,482,000	184,995,000	172,232,000	161,638,000	170,555,000	162,606,000	151,149,000	141,438,000	154,917,000	147,188,000	138,194,000	128,230,000	133,577,000	124,317,000	118,113,000	109,613,000	115,743,000	109,627,000	102,479,000	96,745,000	102,220,000	97,418,000	92,792,000
accumulated other comprehensive loss	-141,783,000	-111,044,000	-139,084,000	-93,812,000	-207,286,000	-205,740,000	-64,950,000	-86,655,000	-62,836,000	-9,826,000	-49,262,000	-1,081,000	-60,572,000									-651,000	-113,338,000	-162,707,000	-238,652,000	-10,963,000	-61,228,000	-23,487,000									-25,415,000	-43,001,000	-13,024,000	-1,673,000	-172,806,000	-172,806	-196,672,000		-183,356,000		-157,172,000	-164,928,000	-164,928,000
treasury shares: 46,348 and 46,348 shares at march 31, 2026 and december 31, 2025, respectively
retained earnings	5,330,353,000	5,199,755,000	5,031,112,000	4,825,841,000	4,617,038,000	4,457,005,000	4,734,014,000	4,499,951,000	4,298,171,000	4,141,690,000	4,088,726,000	3,925,376,000	3,781,519,000	3,649,494,000	3,520,446,000	3,342,431,000	3,177,778,000	3,056,845,000	2,949,984,000	2,889,027,000	2,765,401,000	2,659,001,000	2,582,298,000	2,473,258,000	2,749,224,000	2,654,207,000	2,569,663,000	2,452,687,000	2,345,970,000	2,264,510,000	2,174,135,000	2,060,156,000	1,961,297,000	1,856,946,000	1,578,635,000	1,487,171,000	1,395,271,000	1,413,488,000	1,359,442,000	1,296,241,000
total shareholders' equity	8,057,619,000																																								1,134,540,000	1,134,540	1,128,897,000		1,109,018,000		1,126,775,000	1,173,888,000	1,173,888,000
total liabilities and shareholders' equity	21,186,355,000																																								3,307,877,000	3,307,877	3,244,909,000		3,183,016,000		3,275,578,000	3,210,866,000	3,210,866,000
liabilities and equity
equity:
common shares: unlimited shares authorized; 255,661,011 shares issued and 255,614,663 shares outstanding at december 31, 2025; 258,067,487 shares issued and 258,019,389 shares outstanding at december 31, 2024		2,783,431,000
treasury shares: 46,348 and 48,098 shares at december 31, 2025 and 2024, respectively
total waste connections' equity		8,245,381,000	8,093,368,000	8,353,657,000	8,014,180,000
noncontrolling interest in subsidiaries									4,045,000	4,972,000	5,096,000	4,931,000	4,969,000	4,946,000	4,997,000	4,784,000	4,651,000	4,607,000	4,490,000	4,217,000	4,163,000	4,165,000	4,255,000	4,313,000	4,708,000	4,850,000	5,374,000	5,409,000	5,535,000	5,580,000	5,515,000	5,592,000	5,460,000	5,400,000	5,357,000	7,739,000	7,508,000	7,362,000	7,251,000	6,987,000
total equity		8,245,381,000	8,093,368,000	8,353,657,000	8,014,180,000	7,860,354,000	8,261,455,000	7,983,218,000	7,790,960,000	7,697,781,000	7,591,295,000	7,459,457,000	7,238,964,000	7,113,644,000	6,943,370,000	6,869,662,000	6,759,059,000	6,993,545,000	6,883,156,000	6,868,600,000	6,941,873,000	6,863,438,000	6,666,189,000	6,496,381,000	6,687,086,000	6,938,354,000	6,796,340,000	6,707,805,000	6,568,674,000	6,460,188,000	6,505,079,000	6,346,641,000	6,280,738,000	6,274,070,000	5,993,856,000	5,807,986,000	5,653,232,000	5,654,877,000	5,621,366,000	5,557,721,000
total liabilities and equity		21,129,363,000	20,782,495,000	20,678,610,000	20,254,497,000	19,817,809,000	20,095,364,000	19,301,526,000	19,082,660,000	17,915,876,000	17,731,240,000	17,359,527,000	17,227,094,000	17,134,603,000
common shares: unlimited shares authorized; 256,022,442 shares issued and 255,976,094 shares outstanding at september 30, 2025; 258,067,487 shares issued and 258,019,389 shares outstanding at december 31, 2024			2,846,773,000
treasury shares: 46,348 and 48,098 shares at september 30, 2025 and december 31, 2024, respectively
common shares: 258,393,105 shares issued and 258,346,757 shares outstanding at june 30, 2025; 258,067,487 shares issued and 258,019,389 shares outstanding at december 31, 2024				3,285,689,000
treasury shares: 46,348 and 48,098 shares at june 30, 2025 and december 31, 2024, respectively
common shares: 258,364,361 shares issued and 258,318,013 shares outstanding at march 31, 2025; 258,067,487 shares issued and 258,019,389 shares outstanding at december 31, 2024					3,286,078,000
treasury shares: 46,348 and 48,098 shares at march 31, 2025 and december 31, 2024, respectively
common shares: 258,067,487 shares issued and 258,019,389 shares outstanding at december 31, 2024; 257,659,921 shares issued and 257,600,479 shares outstanding at december 31, 2023						3,283,161,000
treasury shares: 48,098 and 59,442 shares at december 31, 2024 and 2023, respectively
total waste connections’ equity						7,860,354,000	8,261,455,000	7,983,218,000	7,786,915,000	7,692,809,000	7,586,199,000	7,454,526,000	7,233,995,000	7,108,698,000	6,938,373,000	6,864,878,000	6,754,408,000	6,988,938,000	6,878,666,000	6,864,383,000	6,937,710,000	6,859,273,000	6,661,934,000	6,492,068,000	6,682,378,000	6,933,504,000	6,790,966,000	6,702,396,000	6,563,139,000	6,454,608,000	6,499,564,000	6,341,049,000	6,275,278,000	6,268,670,000	5,988,499,000	5,800,247,000	5,645,724,000	5,647,515,000	5,614,115,000	5,550,734,000
common shares: 258,062,086 shares issued and 258,009,392 shares outstanding at september 30, 2024; 257,659,921 shares issued and 257,600,479 shares outstanding at december 31, 2023							3,282,345,000
treasury shares: 52,694 and 59,442 shares at september 30, 2024 and december 31, 2023, respectively
common shares: 258,023,240 shares issued and 257,965,548 shares outstanding at june 30, 2024; 257,659,921 shares issued and 257,600,479 shares outstanding at december 31, 2023								3,279,130,000
treasury shares: 57,692 and 59,442 shares at june 30, 2024 and december 31, 2023, respectively
common shares: 258,019,417 shares issued and 257,961,725 shares outstanding at march 31, 2024; 257,659,921 shares issued and 257,600,479 shares outstanding at december 31, 2023									3,279,130,000
treasury shares: 57,692 and 59,442 shares at march 31, 2024 and december 31, 2023, respectively
common shares: 257,659,921 shares issued and 257,600,479 shares outstanding at december 31, 2023; 257,211,175 shares issued and 257,145,716 shares outstanding at december 31, 2022										3,276,661,000
treasury shares: 59,442 and 65,459 shares at december 31, 2023 and 2022, respectively
common shares: 257,640,960 shares issued and 257,581,304 shares outstanding at september 30, 2023; 257,211,175 shares issued and 257,145,716 shares outstanding at december 31, 2022											3,276,631,000
treasury shares: 59,656 and 65,459 shares at september 30, 2023 and december 31, 2022, respectively
common shares: 257,614,671 shares issued and 257,555,015 shares outstanding at june 30, 2023; 257,211,175 shares issued and 257,145,716 shares outstanding at december 31, 2022												3,274,564,000
treasury shares: 59,656 and 65,459 shares at june 30, 2023 and december 31, 2022, respectively
common shares: 257,547,090 shares issued and 257,487,434 shares outstanding at march 31, 2023; 257,211,175 shares issued and 257,145,716 shares outstanding at december 31, 2022													3,274,564,000
treasury shares: 59,656 and 65,459 shares at march 31, 2023 and december 31, 2022, respectively
common shares: 257,211,175 shares issued and 257,145,716 shares outstanding at december 31, 2022; 260,283,158 shares issued and 260,212,496 shares outstanding at december 31, 2021														3,271,958,000
accumulated other comprehensive income														-56,830,000	-83,476,000	41,438,000	110,358,000	39,584,000	17,553,000	78,265,000	46,171,000								-45,978,000	-74,786,000	53,203,000	15,106,000	56,893,000	108,413,000	114,779,000	26,108,000
treasury shares: 65,459 and 70,662 shares at december 31, 2022 and 2021, respectively
common shares: 257,183,663 shares issued and 257,118,204 shares outstanding at september 30, 2022; 260,283,158 shares issued and 260,212,496 shares outstanding at december 31, 2021															3,271,958,000
treasury shares: 65,459 and 70,662 shares at september 30, 2022 and december 31, 2021, respectively
common shares: 257,166,050 shares issued and 257,100,591 shares outstanding at june 30, 2022; 260,283,158 shares issued and 260,212,496 shares outstanding at december 31, 2021																3,270,242,000
treasury shares: 65,459 and 70,662 shares at june 30, 2022 and december 31, 2021, respectively
common shares: 257,164,867 shares issued and 257,096,408 shares outstanding at march 31, 2022; 260,283,158 shares issued and 260,212,496 shares outstanding at december 31, 2021																	3,269,887,000
treasury shares: 68,459 and 70,662 shares at march 31, 2022 and december 31, 2021, respectively
common shares: 260,283,158 shares issued and 260,212,496 shares outstanding at december 31, 2021; 262,899,174 shares issued and 262,824,990 shares outstanding at december 31, 2020																		3,693,027,000
treasury shares: 70,662 and 74,184 shares at december 31, 2021 and 2020, respectively
common shares: 260,526,784 shares issued and 260,453,918 shares outstanding at september 30, 2021; 262,899,174 shares issued and 262,824,990 shares outstanding at december 31, 2020																			3,726,134,000
treasury shares: 72,866 and 74,184 shares at september 30, 2021 and december 31, 2020, respectively
common shares: 260,506,316 shares issued and 260,433,450 shares outstanding at june 30, 2021; 262,899,174 shares issued and 262,824,990 shares outstanding at december 31, 2020																				3,724,859,000
treasury shares: 72,866 and 74,184 shares at june 30, 2021 and december 31, 2020, respectively
common shares: 262,564,371 shares issued and 262,491,505 shares outstanding at march 31, 2021; 262,899,174 shares issued and 262,824,990 shares outstanding at december 31, 2020																					3,964,500,000
treasury shares: 72,866 and 74,184 shares at march 31, 2021 and december 31, 2020, respectively
common shares: 262,899,174 shares issued and 262,824,990 shares outstanding at december 31, 2020; 263,699,675 shares issued and 263,618,161 shares outstanding at december 31, 2019																						4,030,368,000
treasury shares: 74,184 and 81,514 shares at december 31, 2020 and 2019, respectively
common shares: 262,897,009 shares issued and 262,822,825 shares outstanding at september 30, 2020; 263,699,675 shares issued and 263,618,161 shares outstanding at december 31, 2019																							4,030,368,000
treasury shares: 74,184 and 81,514 shares at september 30, 2020 and december 31, 2019, respectively
common shares: 262,885,349 shares issued and 262,811,165 shares outstanding at june 30, 2020; 263,699,675 shares issued and 263,618,161 shares outstanding at december 31, 2019																								4,030,368,000
treasury shares: 74,184 and 81,514 shares at june 30, 2020 and december 31, 2019, respectively
common shares: 262,878,701 shares issued and 262,804,517 shares outstanding at march 31, 2020; 263,699,675 shares issued and 263,618,161 shares outstanding at december 31, 2019																									4,030,368,000
treasury shares: 74,184 and 81,514 shares at march 31, 2020 and december 31, 2019, respectively
common shares: 263,699,675 shares issued and 263,618,161 shares outstanding at december 31, 2019; 263,271,302 shares issued and 263,141,413 shares outstanding at december 31, 2018																										4,135,343,000
treasury shares: 81,514 and 129,889 shares at december 31, 2019 and 2018, respectively
common shares: 263,697,618 shares issued and 263,616,104 shares outstanding at september 30, 2019; 263,271,302 shares issued and 263,141,413 shares outstanding at december 31, 2018																											4,135,343,000
treasury shares: 81,514 and 129,889 shares at september 30, 2019 and december 31, 2018, respectively
long-term debt and notes payable																												4,082,876,000	4,157,081,000	4,153,465,000	3,747,209,000	3,792,847,000	3,878,698,000	3,899,572,000	3,925,761,000	3,963,909,000	3,946,178,000	3,616,760,000	3,661,971,000	3,761,307,000
common shares: 263,686,518 shares issued and 263,601,239 shares outstanding at june 30, 2019; 263,271,302 shares issued and 263,141,413 shares outstanding at december 31, 2018																												4,135,002,000
treasury shares: 85,279 and 129,889 shares at june 30, 2019 and december 31, 2018, respectively
common shares: 263,673,497 shares issued and 263,587,245 shares outstanding at march 31, 2019; 263,271,302 shares issued and 263,141,413 shares outstanding at december 31, 2018																													4,134,917,000
treasury shares: 86,252 and 129,889 shares at march 31, 2019 and december 31, 2018, respectively
current assets held for sale																															794,000	1,448,000	1,509,000	1,596,000	2,021,000	8,731,000	14,585,000	6,339,000
long-term assets held for sale																															745,000	11,647,000	12,267,000	12,625,000	12,619,000	79,448,000	119,002,000	33,989,000
current liabilities held for sale																															928,000	2,044,000	2,071,000	2,155,000	2,255,000	6,365,000	7,798,000	3,383,000
common shares: 263,271,302 shares issued and 263,141,413 shares outstanding at december 31, 2018; 263,660,803 shares issued and 263,494,670 shares outstanding at december 31, 2017																														4,131,307,000
treasury shares: 129,889 and 166,133 shares at december 31, 2018 and 2017, respectively
common shares: 263,506,592 shares issued and 263,372,910 shares outstanding at september 30, 2018; 263,660,803 shares issued and 263,494,670 shares outstanding at december 31, 2017																															4,147,909,000
treasury shares: 133,682 and 166,133 shares at september 30, 2018 and december 31, 2017, respectively
common shares: 263,498,672 shares issued and 263,362,026 shares outstanding at june 30, 2018; 263,660,803 shares issued and 263,494,670 shares outstanding at december 31, 2017																																4,147,674,000
treasury shares: 136,646 and 166,133 shares at june 30, 2018 and december 31, 2017, respectively
common shares: 263,467,240 shares issued and 263,327,956 shares outstanding at march 31, 2018; 263,660,803 shares issued and 263,494,670 shares outstanding at december 31, 2017																																	4,147,475,000
treasury shares: 139,284 and 166,133 shares at march 31, 2018 and december 31, 2017, respectively
restricted cash and investments																																		167,012,000
common shares: 263,660,803 shares issued and 263,494,670 shares outstanding at december 31, 2017; 263,140,668 shares issued and 262,803,271 shares outstanding at december 31, 2016																																		4,187,568,000
treasury shares: 166,133 and 337,397 shares at december 31, 2017 and 2016, respectively
restricted assets																																			59,192,000	60,393,000	59,193,000	63,406,000	63,314,000	62,985,000
common shares: 263,640,287 shares issued and 263,443,234 shares outstanding at september 30, 2017; 263,140,777 shares issued and 262,803,271 shares outstanding at december 31, 2016																																			4,185,458,000
treasury shares: 197,053 and 337,397 shares at september 30, 2017 and december 31, 2016, respectively
long-term liabilities held for sale																																				463,000	449,000
common shares: 263,637,093 shares issued and 263,425,440 shares outstanding at june 30, 2017; 263,140,777 shares issued and 262,803,380 shares outstanding at december 31, 2016																																				4,184,489,000
treasury shares: 211,653 and 337,397 shares at june 30, 2017 and december 31, 2016, respectively
common shares: 175,753,513 shares issued and 175,556,828 shares outstanding at march 31, 2017; 175,426,824 shares issued and 175,201,895 shares outstanding at december 31, 2016																																					4,179,123,000
treasury shares: 196,685 and 224,929 shares at march 31, 2017 and december 31, 2016, respectively
common shares: 175,426,824 shares issued and 175,201,895 shares outstanding at december 31, 2016; 122,375,955 shares issued and outstanding at december 31, 2015																																						4,174,808,000
treasury shares: 224,929 and 0 shares at december 31, 2016 and 2015, respectively
common shares: 175,140,948 and 122,375,955 shares issued and outstanding at september 30, 2016 and december 31, 2015, respectively																																							4,170,279,000
treasury shares: 284,739 and 0 shares at september 30, 2016 and december 31, 2015, respectively
common shares: 175,037,601 and 122,375,955 shares issued and outstanding at june 30, 2016 and december 31, 2015, respectively																																								4,163,374,000
treasury shares: 375,007 and 0 shares at june 30, 2016 and december 31, 2015, respectively
current
cash and cash equivalents																																									43,919,000	43,919	35,780,000	35,780,000	34,624,000		39,634,000	36,934,000	36,934,000																		8,212,000	4,991,000	7,422,000
other receivables																																									147,000	147	118,000	118,000	101,000		80,000	42,000	42,000																		478,000		531,000
prepaid expenses																																									34,624,000	34,624	31,164,000	31,164,000	46,346,000		45,451,000	48,067,000	48,067,000																		17,922,000		21,436,000
income taxes recoverable																																									2,272,000	2,272			1,941,000		10,481,000	10,152,000	10,152,000
current - sum																																									286,488,000	286,488	275,240,000	275,240,000	294,100,000		312,246,000	286,494,000
funded landfill post-closure costs																																									10,959,000	10,959	10,145,000	10,145,000	10,210,000		10,774,000	10,465,000	10,465,000																		8,180,000		8,339,000
intangibles																																									168,670,000	168,670	176,973,000	176,973,000	150,953,000	150,953,000	162,257,000	172,165,000	172,165,000	165,929,000	170,234,000	197,416,000	208,193,000	220,078,000	236,775,000	252,673,000	270,077,000	287,847,000	249,407,000	241,268,000	250,396,000	98,796,000	100,232,000	111,158,000	113,906,000	125,778,000	109,465,000		113,515,000	32,095,000
landfill development assets																																									16,305,000	16,305	15,067,000	15,067,000	15,360,000	15,360,000	13,808,000	13,379,000	13,379,000	14,463,000	14,571,000	15,007,000	14,126,000	20,247,000	19,883,000	20,771,000	21,509,000	19,715,000	19,056,000	17,970,000	17,318,000	8,669,000	6,882,000	5,862,000		4,036,000	8,510,000		8,010,000	2,977,000
deferred financing costs																																									11,619,000	11,619	15,017,000	15,017,000	16,169,000		17,706,000	12,612,000	12,612,000																		9,962,000	-9,358,000	8,685,000
capital assets																																									969,154,000	969,154	929,111,000	929,111,000	915,832,000	915,832,000	939,179,000	905,611,000	905,611,000	928,550,000	909,739,000	949,742,000	927,052,000	937,252,000	949,223,000	909,988,000	924,373,000	927,518,000	855,593,000	799,491,000	780,477,000	300,928,000	294,222,000	318,110,000	312,949,000	284,631,000	448,867,000	133,584,000	183,285,000	183,285,000
landfill assets																																									933,914,000	933,914	932,595,000	932,595,000	904,788,000	904,788,000	917,854,000	918,686,000	918,686,000	936,095,000	943,567,000	947,514,000	941,592,000	952,731,000	959,269,000	948,327,000	951,970,000	963,720,000	966,815,000	954,441,000	959,899,000	221,660,000	220,377,000	238,828,000	241,844,000	213,173,000	644,936,000	152,204,000	177,246,000	177,246,000
investments																																									798,000	798	748,000	748,000	773,000		830,000	816,000	816,000
liabilities
accrued charges																																									155,295,000	155,295	139,988,000	139,988,000	156,325,000		145,858,000	150,960,000	150,960,000																		76,044,000	-2,383,000	63,987,000
dividends payable																																									14,328,000	14,328	13,425,000	13,425,000	13,873,000		14,020,000	14,129,000	14,129,000																		11,012,000		11,500,000
income taxes payable																																									3,430,000	3,430	3,175,000	3,175,000	2,115,000		1,517,000	3,106,000	3,106,000																		14,370,000		8,816,000
deferred revenues																																									16,911,000	16,911	16,340,000	16,340,000	15,874,000		17,569,000	16,446,000	16,446,000																		13,443,000		14,398,000
current portion of long-term debt																																									523,000	523	494,000	494,000	475,000		462,000	5,440,000	5,440,000
landfill closure and post-closure costs																																									10,625,000	10,625	10,717,000	10,717,000	8,280,000		8,938,000	8,963,000	8,963,000																		5,248,000		6,174,000
other liabilities																																									21,339,000	21,339	17,394,000	17,394,000	19,089,000		18,401,000	19,890,000	19,890,000																		6,412,000		7,398,000
long-term debt																																									1,583,190,000	1,583,190	1,550,226,000	1,550,226,000	1,494,584,000		1,581,469,000	1,478,151,000	1,478,151,000																		657,016,000		705,045,000
shareholders' equity
common shares (authorized - unlimited, issued
and outstanding - 108,871,584																																									1,692,209,000
restricted shares																																									-13,139,000	-13,139	-12,461,000		-12,661,000		-11,482,000	-11,665,000	-11,665,000
additional paid in capital																																									4,751,000	4,751	7,015,000	7,015,000	5,839,000		4,980,000	4,803,000	4,803,000
accumulated deficit																																									-376,475,000	-376,475	-360,948,000		-392,767,000		-401,487,000	-382,081,000	-382,081,000
net assets held for sale
and outstanding - 108,806,684																																											1,691,963,000
shareholders’ equity																																																																			796,169,000	-6,021,000	796,465,000
common shares																																												1,691,963,000
total shareholders’ equity																																												1,128,897,000
total liabilities and shareholders’ equity																																												3,244,909,000
and outstanding - 108,794,108																																													1,691,963,000
working capital position																																														-10,560,000					8,670,000			-298,000	20,484,000	45,478,000	30,944,000	5,709,000
note:
(*)includes certain corporate assets and liabilities, when applicable.
accounts receivable - september 30, 2015 versus december 31, 2014
change - consolidated																																																														5,001,000
change - north
change - u.s. segments
and outstanding - 111,518,630																																																1,727,759,000
working capital																																																		-34,794,000		7,498,000	23,637,000
change - canada																																																														-3,154,000
change - u.s.																																																														8,155,000
working capital deficit -																																																											-1,136,000	-26,569,000	-4,880,000	-1,397,000								-2,663,000
working capital deficit-																																																															13,306,000
change - consolidated - september 30, 2011 versus december 31, 2010																																																															16,434,000
change - canada - september 30, 2011 versus december 31, 2010																																																															-1,594,000
change - u.s. - september 30, 2011 versus december 31, 2010																																																															18,028,000
working capital deficit —																																																																14,760,000		5,873,000
change - consolidated - june 30, 2011 versus december 31, 2010																																																																35,027,000
change - canada - june 30, 2011 versus december 31, 2010																																																																21,796,000
change - u.s. - june 30, 2011 versus december 31, 2010																																																																13,231,000
landfill development
working capital deficit
—(current assets less
current liabilities)																																																																	1,355,000
change - consolidated - march 31, 2011 versus december 31, 2010																																																																	-9,249,000
change - canada - march 31, 2011 versus december 31, 2010																																																																	-9,711,000
change - u.s. - march 31, 2011 versus december 31, 2010																																																																	462,000
change — consolidated — september 30, 2010 versus december 31, 2009																																																																		96,833,000
change — canada — september 30, 2010 versus december 31, 2009																																																																		54,925,000
change — u.s. — september 30, 2010 versus december 31, 2009																																																																		41,908,000
revenues																																																																			422,305,000
net income																																																																			17,567,000
net income per weighted-average share, basic and diluted																																																																			140
investment in equity accounted investee																																																																			3,155,000		3,415,000
equity
non-controlling interest																																																																			230,302,000	-2,362,000	230,402,000
change - consolidated - march 31, 2010 versus december 31, 2009																																																																						5,528,000
change - canada - march 31, 2010 versus december 31, 2009																																																																						5,860,000
change - u.s. - march 31, 2010 versus december 31, 2009																																																																						-332,000

Cashflow Statements:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	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	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-04-27	2016-03-31	2015-12-31	2015-09-30	2015-07-30	2015-04-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-04-25	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-05-01	2013-03-31	2012-12-31	2012-09-30	2012-06-27	2012-04-27	2012-04-16	2011-12-31	2011-09-30	2011-06-30	2011-04-28	2011-03-31	2011-03-10	2010-12-31	2010-09-30	2010-06-30	2010-06-02	2010-04-27	2010-03-31	2009-09-30	2009-07-29	2009-06-30

cash flows from operating activities:
net income	219,344,000	258,500,000	286,270,000	290,277,000	241,510,000	-196,004,000	308,046,000	275,401,000	229,127,000	126,629,000	229,191,000	209,170,000	197,836,000	194,301,000	237,125,000	224,207,000	180,368,000	166,428,000	114,653,000	177,101,000	160,307,000	130,574,000	157,991,000	-227,466,000	142,893,000	133,191,000	159,074,000	148,839,000	125,577,000	132,543,000	150,765,000	138,814,000	125,032,000	315,129,000	123,384,000	123,887,000	15,020,000		88,881,000	74,747,000	-2,010,000	-2,010,000			37,111,879,000	18,121,000	18,121,000	126,516,000	-38,000	14,933,000	25,919,000	25,919,000	117,970,000	-12,199,000	2,952,000	29,341,000	29,341,000	94,357,000	3,781,000	6,308,000	22,069,000	-196,136,000		3,740,000	13,509,000	23,098,000	23,098,000	82,169,000	-2,258,000		-33,893,000	53,728,000	16,710,000		19,109,000	0	15,105,000
adjustments to reconcile net income to net cash from operating activities:
loss from disposal of assets, impairments and other	2,519,000	41,941,000	60,134,000	3,702,000	7,778,000	121,707,000	2,537,000
adjustments to closure and post-closure liabilities	76,845,000
depreciation	267,485,000	266,838,000	263,999,000	257,421,000	242,307,000	261,609,000	248,472,000	241,229,000	222,691,000	213,291,000	214,967,000	213,321,000	204,059,000	201,111,000	193,287,000	188,937,000	179,950,000	175,142,000	171,964,000	169,222,000	157,402,000	161,461,000	157,590,000	151,230,000	150,821,000	156,780,000	157,993,000	156,776,000	146,847,000	148,842,000	148,232,000	142,449,000	133,185,000	135,179,000	136,941,000	132,827,000	125,240,000		125,743,000
amortization of intangibles	47,264,000	52,332,000	51,331,000	50,236,000	47,642,000	60,184,000	45,170,000	44,124,000	40,290,000	39,833,000	39,405,000	39,053,000	39,282,000	41,719,000	38,858,000	37,463,000	37,635,000	39,042,000	35,338,000	32,707,000	32,192,000	35,240,000	32,653,000	31,771,000	31,638,000	31,701,000	31,935,000	31,344,000	30,542,000	28,335,000	26,871,000	26,475,000	26,098,000	25,411,000	26,614,000	24,762,000	25,510,000		26,944,000	10,857,000	10,918,000				10,777,702,000	11,298,000		56,421,000	-244,000	1,000	13,898,000	13,898,000	62,929,000	3,487,000	-342,000	15,360,000	15,360,000	53,585,000	504,000			49,559,000	49,559,000	941,000	-228,000	12,164,000	12,164,000	34,673,000			-22,444,000	28,669,000	7,057,000
deferred income taxes, net of acquisitions	28,537,000	22,815,000	35,547,000	22,127,000	36,165,000	-138,555,000	33,678,000	17,197,000	30,395,000	-22,731,000	-2,367,000	3,198,000	28,229,000	2,383,000	6,107,000	46,613,000	38,378,000	38,845,000	-27,802,000	-4,859,000	8,379,000	27,126,000	-10,792,000	-90,080,000	23,259,000	13,156,000	22,570,000	8,785,000	10,126,000	32,094,000	19,366,000	5,442,000	20,957,000	-142,312,000	-593,000	16,150,000	-26,528,000		10,605,000
current period provision for expected credit losses	12,105,000	5,172,000	4,150,000	2,701,000	2,470,000	7,562,000	3,925,000	5,026,000	3,730,000	4,067,000	6,328,000	4,788,000	2,247,000	6,256,000	4,190,000	3,885,000	3,022,000
amortization of debt issuance costs	2,163,000	2,112,000	2,170,000	2,067,000	2,034,000	2,033,000	2,014,000	1,905,000	4,055,000	1,621,000	1,621,000	1,620,000	1,621,000	1,575,000	1,395,000	1,289,000	1,195,000	1,168,000	1,198,000	1,330,000	1,359,000	1,363,000	1,363,000	1,363,000	3,420,000	1,293,000	1,294,000	1,266,000	1,148,000	1,071,000	1,006,000	1,005,000	1,076,000	1,120,000	1,120,000	1,088,000	1,013,000		1,035,000
share-based compensation	17,587,000	19,016,000	18,476,000	18,518,000	23,438,000	16,656,000	20,416,000	18,861,000	21,952,000	14,326,000	14,641,000	23,000,000	18,469,000	15,090,000	20,679,000	13,081,000	14,635,000	15,527,000	13,970,000	18,417,000	10,307,000	7,435,000	13,673,000	11,597,000	13,046,000	7,161,000	8,747,000	11,595,000	15,168,000	8,369,000	15,172,000	11,082,000	9,180,000	6,954,000	9,043,000	10,375,000	12,989,000		9,071,000
interest accretion	11,200,000	13,089,000	12,855,000	12,819,000	12,737,000	8,268,000	8,506,000	7,948,000	11,279,000	7,893,000	4,992,000	4,951,000	4,884,000	4,450,000	4,420,000	4,350,000	4,448,000	3,902,000	3,869,000	3,995,000	4,204,000	4,362,000	4,331,000	4,160,000	4,352,000	4,143,000	4,140,000	4,171,000	3,972,000	3,726,000	3,732,000	3,738,000	3,665,000	3,416,000	3,519,000	3,463,000	3,424,000		3,409,000
adjustments to contingent consideration		-37,089,000	290,000	32,084,000	-1,500,000					0	31,277,000	-273,000	-637,000	0	0	-978,000	-52,000	2,865,000	0	0	89,000	1,566,000	58,000			32,000	0	0	1,466,000	0	0	-353,000	702,000	0	6,741,000	-300,000	11,313,000		-68,000
other	127,000	-799,000	-4,385,000	-1,648,000	-1,013,000	4,161,000	-3,199,000	792,000	902,000	-408,000	-707,000	109,000	-2,937,000	195,000	-6,239,000	-2,555,000	382,000	26,000	-168,000	-322,000	-796,000	1,490,000	-660,000	-712,000	2,308,000	-924,000	198,000	-1,369,000	-145,000	1,511,000	-491,000	27,000	-104,000	1,001,000	-1,733,000	-1,082,000	-650,000		-2,291,000
net change in operating assets and liabilities, net of acquisitions	-139,578,000		-53,388,000	-51,702,000	-72,029,000		-76,719,000	2,647,000	-75,761,000		-10,096,000	64,769,000	-52,605,000		24,164,000	12,531,000	-21,154,000		-9,900,000	44,663,000	27,072,000		68,100,000	60,398,000	-7,639,000		29,025,000	19,348,000	5,485,000		10,839,000	21,842,000	-15,601,000		34,450,000	-47,446,000	-10,844,000		10,689,000
net cash from operating activities	545,598,000	556,879,000	677,449,000	638,202,000	541,539,000	568,929,000	558,311,000	611,378,000	490,309,000	555,941,000	554,164,000	574,354,000	442,358,000	522,355,000	526,459,000	532,781,000	440,897,000	428,268,000	421,483,000	448,082,000	400,396,000	222,948,000	432,388,000	383,599,000	369,586,000	355,117,000	432,382,000	389,276,000	363,772,000	373,443,000	372,861,000	357,684,000	307,247,000	298,885,000	336,469,000	264,429,000	287,477,000	256,481,000	279,185,000
capital expenditures	-261,639,000	-384,291,000	-297,172,000	-285,310,000	-212,455,000	-396,686,000	-272,132,000	-217,219,000	-169,951,000	-318,446,000	-221,411,000	-218,357,000	-175,786,000	-294,364,000	-246,885,000	-219,110,000	-152,318,000	-264,835,000	-208,088,000	-174,599,000	-96,793,000	-176,359,000	-151,983,000	-130,930,000	-137,781,000	-200,880,000	-179,736,000	-139,552,000	-114,238,000	-172,633,000	-171,800,000	-110,496,000	-91,216,000	-161,902,000	-114,768,000	-111,412,000	-91,205,000	0	-92,847,000
free cash flows	283,959,000	172,588,000	380,277,000	352,892,000	329,084,000	172,243,000	286,179,000	394,159,000	320,358,000	237,495,000	332,753,000	355,997,000	266,572,000	227,991,000	279,574,000	313,671,000	288,579,000	163,433,000	213,395,000	273,483,000	303,603,000	46,589,000	280,405,000	252,669,000	231,805,000	154,237,000	252,646,000	249,724,000	249,534,000	200,810,000	201,061,000	247,188,000	216,031,000	136,983,000	221,701,000	153,017,000	196,272,000	256,481,000	186,338,000
cash flows from investing activities:
payments for acquisitions, net of cash acquired	-63,087,000	-190,267,000	-116,572,000	-130,321,000	-380,417,000	-110,604,000	-574,570,000	-279,282,000	-1,156,422,000	-103,608,000	-360,033,000	-68,541,000	-144,611,000	-933,991,000	-725,928,000	-191,770,000	-355,212,000	-399,173,000	-493,783,000	-58,948,000	-8,545,000	-214,979,000	-87,485,000	-80,382,000	-5,943,000	-316,218,000	-38,970,000	-366,502,000	-14,920,000	-330,027,000	-14,545,000	-173,555,000	-311,964,000	-16,693,000	-46,066,000	-3,671,000	-344,265,000		-1,162,000
capital expenditures for property and equipment	-296,596,000	-384,291,000	-297,172,000	-285,310,000	-212,455,000	-396,686,000	-272,132,000	-217,219,000	-169,951,000	-318,446,000	-221,411,000	-218,357,000	-175,786,000	-294,364,000	-246,885,000	-219,110,000	-152,318,000	-264,835,000	-208,088,000	-174,599,000	-96,793,000	-176,359,000	-151,983,000	-130,930,000	-137,781,000	-200,880,000	-179,736,000	-139,552,000	-114,238,000	-172,633,000	-171,800,000	-110,496,000	-91,216,000	-161,902,000	-114,768,000	-111,412,000	-91,205,000		-92,847,000
proceeds from disposal of assets	1,779,000	972,000	3,736,000	4,448,000	969,000	2,270,000	2,636,000	1,912,000	1,085,000	22,903,000	4,859,000	2,559,000	1,260,000	7,335,000	6,447,000	1,882,000	15,012,000	32,659,000	2,203,000	5,826,000	2,080,000	7,520,000	922,000	7,143,000	3,499,000	940,000	1,428,000	559,000	639,000	1,687,000	1,624,000	1,072,000	1,002,000	2,606,000	5,209,000	1,802,000	18,815,000		1,466,000
net cash from investing activities	-355,701,000	-589,330,000	-413,941,000	-416,761,000	-603,211,000	-513,366,000	-851,706,000	-459,525,000	-1,334,579,000	-395,466,000	-580,992,000	-286,862,000	-317,759,000	-1,228,585,000	-966,636,000	-402,069,000	-489,881,000	-658,642,000	-702,046,000	-232,241,000	-100,553,000	-395,977,000	-290,110,000	-226,330,000	-133,626,000	-540,334,000	-245,382,000	-512,244,000	-128,046,000	-501,374,000	-185,212,000	-282,952,000	-402,282,000	-282,670,000	-155,583,000	-115,120,000	-412,859,000	-143,348,000	-95,141,000
cash flows from financing activities:
proceeds from long-term debt	1,156,176,000	452,122,000	608,641,000	830,690,000	782,904,000	472,303,000	951,518,000	787,626,000	2,353,022,000	576,211,000	704,133,000	201,772,000	336,649,000	1,667,522,000	1,630,892,000	212,444,000	1,305,288,000	169,001,000	1,632,192,000			25,000,000	0	0	1,790,625,000	554,000,000	5,641,000	960,800,000	55,354,000	857,000,000	1,000	130,111,000	35,625,000	76,807,000	31,995,000	428,866,000	436,086,000		54,683,000	3,262,092,000	90,584,000	90,584,000			638,081,971,000	93,029,000	93,029,000	358,682,000	32,153,000	-45,692,000	73,811,000	73,811,000	770,139,000	-429,262,000	518,453,000	19,824,000	19,824,000	1,924,480,000	48,143,000	-18,895,000	98,941,000	380,347,000	380,347,000	-38,580,000	29,647,000	103,483,000	103,483,000	1,245,102,000			-171,512,000	190,609,000	80,768,000
principal payments on notes payable and long-term debt	-843,898,000	-321,367,000	-319,813,000	-947,048,000	-541,737,000	-485,743,000	-524,678,000	-884,066,000	-1,350,932,000	-668,738,000	-615,356,000	-448,032,000	-320,027,000	-1,021,573,000	-1,132,305,000	-414,510,000	-505,597,000	-79,066,000	-1,546,984,000	-261,491,000	-5,559,000	-37,317,000	-21,523,000	-513,725,000	-970,393,000	-286,546,000	-49,576,000	-1,082,538,000	-52,051,000	-583,073,000	-49,563,000	-231,325,000	-106,812,000	-103,382,000	-80,962,000	-415,388,000	-170,374,000		-151,758,000
payment of contingent consideration recorded at acquisition date	-4,108,000	-5,945,000	-5,429,000	-2,758,000	-20,137,000	-1,118,000	-14,129,000	-1,201,000	-11,295,000	-9,062,000	-2,062,000	-874,000	-1,319,000	-4,797,000	-3,216,000	-5,327,000	-3,571,000	-4,936,000	-2,403,000	-788,000	-4,807,000	-9,754,000	-561,000	-275,000	-1,976,000	-1,579,000	-1,071,000	-275,000	-275,000	-668,000	-483,000	-2,771,000	-2,205,000	-11,318,000	-275,000	-275,000	-5,290,000		-7,996,000
change in book overdraft	-6,114,000	382,000	-733,000	507,000	-110,000	60,000	-1,637,000	1,621,000	-271,000	-927,000	371,000	-5,655,000	5,421,000	4,907,000	-5,929,000	-141,000	87,000	196,000	-373,000	16,659,000	-16,849,000	1,958,000	-256,000	3,242,000	-3,848,000	-4,475,000	2,445,000	2,250,000	-2,784,000	-596,000	889,000	-837,000	-295,000	-5,573,000	-5,665,000	-568,000	20,047,000		4,052,000
payments for repurchase of common shares	-283,959,000	-63,341,000	-441,787,000											0	0	0	-424,999,000	-33,353,000	0	-239,641,000	-65,999,000	0	0	0	-105,654,000					-16,888,000	0	0	-42,040,000
payments for cash dividends	-88,746,000	-89,857,000	-81,000,000	-81,473,000	-81,477,000	-81,005,000	-73,982,000	-73,698,000	-73,573,000	-73,789,000	-65,675,000	-65,352,000	-65,788,000	-65,303,000	-58,898,000	-59,421,000	-59,391,000	-59,449,000	-53,424,000	-53,421,000	-53,909,000	-53,962,000	-49,009,000	-48,894,000	-48,018,000	-48,719,000	-42,133,000	-42,131,000	-42,084,000	-42,103,000	-36,863,000	-36,770,000	-36,814,000	-36,774,000	-31,738,000	-31,756,000	-31,707,000		-25,416,000
tax withholdings related to net share settlements of equity-based compensation	-24,515,000	-503,000	-372,000	-1,953,000	-28,981,000	-725,000	-939,000	-414,000	-30,850,000	-1,594,000	-740,000	-5,709,000	-22,966,000	-892,000	-200,000	-30,000	-17,236,000	-30,000	-66,000	-20,000	-18,490,000	-56,000	-99,000	-201,000	-23,090,000	-68,000	-328,000	-291,000	-16,973,000	-56,000	-387,000	-468,000	-14,121,000
debt issuance costs	-4,008,000	-39,000	-1,392,000			0	-892,000	-2,464,000	-10,093,000					-1,817,000	-6,786,000	-286,000	-4,382,000	-524,000				0	-160,000	-21,000	-10,936,000	-15,000	-100,000			-5,791,000	-82,000	-569,000	-2,188,000	-29,000	-119,000	-2,886,000	-633,000		-567,000
proceeds from issuance of shares under employee share purchase plan	3,031,000	0	2,871,000	0	2,593,000	0	2,303,000	0	2,183,000	1,000	2,067,000	0	1,841,000	-1,000	1,717,000	0	1,554,000	-53,000
proceeds from sale of common shares held in trust		-1,000	0	0	324,000	816,000	912,000	0	286,000	29,000	0	0	765,000	0	0	355,000	305,000	299,000	0	0	131,000	0	0	0	679,000	0	341,000	85,000	3,610,000	286,000	235,000	199,000	1,947,000	2,110,000	969,000	5,366,000	2,369,000		6,905,000
net cash from financing activities	-96,141,000	-28,549,000	-239,014,000	-205,857,000	113,379,000	-95,412,000	338,476,000	-176,596,000	878,477,000	-177,869,000	22,738,000	-323,850,000	-65,424,000	578,046,000	425,275,000	-266,916,000	292,058,000	-7,915,000	-98,397,000	-227,702,000	-165,482,000	-74,131,000	-71,608,000	-559,874,000	627,389,000	212,145,000	-84,781,000	-168,055,000	-55,203,000	208,111,000	-86,253,000	-142,430,000	-167,006,000	-78,399,000	-85,929,000	-18,326,000	239,414,000	-77,929,000	-120,073,000
effect of exchange rate changes on cash, cash equivalents and restricted cash	-690,000	-5,000	-1,380,000	2,441,000	-434,000	-486,000	1,021,000	-519,000	-577,000	2,401,000	-1,214,000	208,000	-54,000	1,175,000	-1,269,000	-2,536,000	595,000	-468,000	-430,000	470,000	403,000	5,934,000	1,521,000	1,823,000	-2,364,000	465,000	-127,000	77,000	193,000	-762,000	387,000	-933,000	18,000
net increase in cash, cash equivalents and restricted cash	93,066,000	-61,005,000	23,114,000	18,025,000	51,273,000	-40,335,000	46,102,000	-25,262,000	33,630,000	-14,993,000	-5,304,000	-36,150,000	59,121,000	-127,009,000	-16,171,000	-138,740,000	243,669,000	-238,757,000	-379,390,000	-11,391,000	134,764,000	-241,226,000	72,191,000	-400,782,000	860,985,000				180,716,000	79,418,000	101,783,000	-68,631,000	-262,023,000
cash, cash equivalents and restricted cash at beginning of period	229,580,000		0	0	198,173,000		0	0	184,038,000		0	0	181,364,000		0	0	219,615,000		0	0	714,389,000		0	0	423,221,000		0	0	403,966,000		0	0	556,467,000
cash, cash equivalents and restricted cash at end of period	322,646,000		23,114,000	18,025,000	249,446,000		46,102,000	-25,262,000	217,668,000		-5,304,000	-36,150,000	240,485,000		-16,171,000	-138,740,000	463,284,000		-379,390,000	-11,391,000	849,153,000		72,191,000	-400,782,000	1,284,206,000		102,092,000	-290,946,000	584,682,000		101,942,000	-68,699,000	294,545,000
non-cash investing and financing activities:
liabilities assumed and notes payable issued to sellers of businesses acquired	13,851,000		28,045,000	8,087,000	109,394,000		65,389,000	7,659,000	149,634,000		81,404,000	11,445,000	34,224,000		135,433,000	3,571,000	40,122,000						14,358,000				-11,575,000	104,000,000	1,584,000		1,363,000	34,768,000	64,622,000		7,405,000	-10,447,000	146,537,000		115,555,000
accrued capital expenditures for property and equipment	34,957,000
adjustment to closure and post-closure liabilities
payment of contingent consideration recorded in earnings		0	0			0								0				0	0	0	-520,000									0	0	0	-11,000						-281,000
changes in operating assets and liabilities, net of effects from acquisitions:
accounts receivable
prepaid expenses and other current assets
accounts payable
deferred revenue
accrued liabilities
capping, closure and post-closure expenditures
other long-term liabilities
capital expenditures for undeveloped landfill property																						-699,000	-50,359,000
proceeds from sale of investment in noncontrolling interests						0	0
cash, cash equivalents and restricted cash at beginning of year
cash, cash equivalents and restricted cash at end of year
changes in accrued capital expenditures for property and equipment
non-cash financing activities:
loss on disposal of assets and impairments									1,649,000	1,407,000	24,912,000	10,648,000	1,910,000	-1,984,000	5,455,000	3,958,000	2,090,000	18,425,000	3,073,000	5,828,000	401,000	21,815,000	3,663,000	420,034,000	135,000	28,740,000	12,928,000	2,552,000	16,372,000	3,341,000	-3,238,000	7,227,000	2,863,000	12,393,000	-6,510,000	-1,279,000	129,887,000
loss on early extinguishment of debt																		0
investment in noncontrolling interests
premiums paid on early extinguishment of debt																		0
investments in noncontrolling interests
distributions to noncontrolling interests																																							0
investment in noncontrolling interest
plus: change in cash held for sale
amortization of leases																							4,418,000	4,510,000	5,353,000	6,438,000	4,478,000	5,969,000	7,214,000
change in restricted investments, net of interest income																								184,000	4,348,000	-12,000	4,035,000
capital expenditure for purchase of greenfield landfill site																										0
plus (less): change in cash held for sale																														0	159,000	-68,000	101,000
net decrease in cash, cash equivalents and restricted cash																											102,092,000
excess tax benefit associated with equity-based compensation																																							-136,000
cash and restricted cash acquired in the progressive waste acquisition
foreign currency transaction loss																															133,000	-31,000	221,000	-1,302,000			590,000
interest income on restricted investments																															-17,000	-6,000	-120,000
proceeds from option and warrant exercises																																		0	0	0	1,946,000
non-cash consideration received for asset sales																																			80,340,000	4,500,000	8,132,000
interest income on restricted cash and investments
cash acquired in the progressive waste acquisition																																							-6,000
change in restricted cash and investments, net of interest income
tax withholdings related to net share settlements of restricted share units																																		-240,000	-133,000	-591,000	-13,030,000		-112,000
effect of exchange rate changes on cash and equivalents																																		868,000	278,000	567,000	82,000	-115,000	-260,000
net increase in cash and equivalents																																		-61,316,000	95,235,000	131,550,000	114,114,000	35,089,000	63,711,000
cash and equivalents at beginning of year
less: change in cash held for sale																																		-123,000	278,000	-278,000	-27,000
cash and equivalents at end of year
interest income on restricted assets																																			-104,000	-146,000	-137,000		-120,000
change in restricted assets, net of interest income																																			1,775,000	-757,000	4,446,000		-301,000
cash and equivalents at beginning of period																																			0	0	154,382,000		0
cash and equivalents at end of period																																			95,513,000	131,272,000	268,469,000		63,711,000
issuance of common shares to acquire progressive waste																																							0
foreign currency transaction (gain) loss
6
less: cash held for sale
1)
foreign currency transaction gain																																							350,000
1.
loss on disposal of assets
net inflow (outflow) of cash related to the following activities
operating
items not affecting cash
restricted share expense																																									1,322,000				1,233,194,000	806,000		2,759,000	-241,000	62,000	716,000	716,000	2,004,000	58,000	-43,000	490,000	490,000	2,034,000				2,107,000	2,107,000	849,000	5,000	174,000	174,000	1,977,000		-416,432	-1,068,000	1,485,000	413,000	413
accretion of landfill closure and post-closure costs																																									1,581,000				1,602,401,000	1,599,000		6,132,000	-1,000	-1,000	1,539,000	1,539,000	5,655,000	16,000	-3,000	1,409,000	1,409,000	5,240,000	7,000			5,071,000	5,071,000	-5,000	7,000	1,269,000	1,269,000	3,827,000			-2,248,000	3,130,000	880,000
amortization of capital assets																																									37,717,000				37,167,891,000	36,109,000		152,895,000	-404,000	568,000	37,155,000	37,155,000	152,728,000	-245,000	295,000	38,076,000	38,076,000	141,192,000	978,000			131,088,000	131,088,000	994,000	-298,000	32,449,000	32,449,000	100,559,000			-54,560,000	74,532,000	19,067,000
amortization of landfill assets																																									17,147,000				21,433,398,000	16,602,000		76,289,000	835,000	4,293,000	16,154,000	16,154,000	80,834,000	1,287,000	2,390,000	17,863,000	17,863,000	79,341,000	476,000			76,419,000	76,419,000	1,006,000	4,174,000	18,206,000	18,206,000	72,434,000			-36,602,000	53,501,000	13,393,000
interest on long-term debt																																									644,000		-57,996,000	-786,088,000	772,236,000	764,000		3,418,000	1,000	12,000	854,000	854,000			-7,000	856,000	856,000	5,665,000	23,000			6,035,000	6,035,000	-14,902,000	9,000	1,353,000	1,353,000	4,672,000	12,837,000	-8,261,783	-2,186,000	2,902,000	709,000		7,851,000	-7,971,000	8,766,000
non-cash interest income																																									-25,000				-66,935,000	-65,000
net gain on sale of capital and landfill assets																																									-138,000																																		-13,000	0	19,000
net loss on financial instruments																																									13,862,000					10,759,000		24,214,000		3,814,000	3,335,000			1,392,000				1,725,000
deferred income tax (recovery) expense																																									-9,870,000
landfill closure and post-closure expenditures																																									-829,000	-829,000			-1,264,953,000	-1,047,000	-1,047,000				-811,000					-795,000				-1,132,000	-1,534,000					-1,701,000				1,165,391
changes in non-cash working capital items																																									2,754,000	2,754,000	-57,055,000	10,462,444,000	-10,499,139,000	2,139,000	2,139,000			23,954,000	-18,359,000		11,530,000	20,113,000		-11,999,000				41,733,000	-25,743,000			33,901,000		-34,633,000				-13,295,985	-13,966,000	27,304,000		15,090
cash generated from operating activities																																									73,073,000	73,073,000	274,012,000	-85,916,997,000	85,969,825,000	88,175,000	88,175,000	399,726,000	-15,895,000	37,244,000	74,872,000	74,872,000	450,735,000	14,332,000	10,733,000	94,776,000	94,776,000	336,761,000	-48,593,000	57,563,000	65,348,000	395,706,000	395,706,000	40,571,000	37,978,000	54,654,000	54,654,000	293,861,000	72,709,000	-81,148,042	-175,073,000	256,269,000	44,040,000	44,040	76,597,000	0	66,456,000
investing
acquisitions																																									-130,000	-130,000			-103,162,000	-29,838,000	-29,838,000				-8,298,000					-95,000				-35,317,000	-6,544,000					-12,380,000
investment in other receivables																																									-41,000	-41,000			-180,977,000	-23,000	-23,000									-134,000
proceeds from other receivables																																									29,000	29,000			15,990,000	10,000	10,000	76,000	2,000	-1,000	19,000	19,000	556,000	-1,000	0	139,000	139,000	440,000	8,000	-25,000	124,000	474,000	474,000	3,000	4,000	115,000	115,000	554,000			-342,000	487,000	139,000
funded landfill post-closure costs																																									-249,000	-249,000			-70,713,000	-287,000	-287,000				-344,000					-102,000				12,000	-86,000					-98,000
purchase of capital assets																																									-48,620,000	-48,620,000			-61,187,768,000	-51,232,000	-51,232,000				-34,430,000					-51,380,000				3,501,000	-37,386,000					-15,902,000
purchase of landfill assets																																									-15,866,000	-15,866,000			-14,192,036,000	-9,964,000	-9,964,000				-9,408,000					-10,006,000				-3,083,000	-12,705,000					-9,507,000
proceeds from the sale of capital and landfill assets																																									722,000	722,000	5,759,000	-916,404,000	915,737,000	1,263,000	1,263,000	28,528,000	-21,624,000	22,801,000	361,000	361,000																3,001,000			-3,861,000	4,487,000	64,000
proceeds from asset divestiture																																														76,190,000	76,190,000
investment in landfill development assets																																									-126,000	-126,000			-125,933,000	-67,000	-67,000				-186,000					-1,776,000				1,718,000	-2,266,000					-622,000
cash utilized in investing activities																																									-64,281,000	-64,281,000			-75,026,052,000	-13,948,000	-13,948,000				-52,287,000					-62,234,000				-33,083,000	-58,146,000					-35,721,000
financing
repayment of long-term debt																																									-79,311,000	-79,311,000			-547,274,743,000	-133,257,000	-133,257,000				-64,848,000					-32,042,000				9,181,000	-65,845,000					-84,816,000
proceeds from the exercise of stock options, net of related costs																																									96,000	96,000
repurchase of common shares and related costs																																													-78,010,716,000	-15,284,000	-15,284,000
purchase of, net of proceeds from, restricted shares																																									-3,593,000	-3,593,000			-871,519,000	-2,481,000	-2,481,000
dividends paid to shareholders																																									-13,516,000	-13,516,000			-14,560,496,000	-14,504,000	-14,504,000				-15,656,000					-15,981,000				-1,443,000	-14,769,000
cash utilized in financing activities																																									-5,740,000	-5,740,000			-9,194,556,000	-72,444,000	-72,444,000				-10,164,000					-31,250,000					-10,726,000
effect of foreign currency translation on cash and cash equivalents																																									5,087,000	5,087,000			955,485,000	-6,485,000	-6,485,000			4,016,000	-2,119,000			3,471,000		-1,064,000				-817,000	381,000	1,124,000	1,124,000		-332,000	425,000	425,000	10,000				2,330,000	342,000
net cash inflow																																									8,139,000	8,139,000						9,656,000			10,302,000	10,302,000	2,040,000		4,587,000	228,000	228,000	15,797,000				737,000	737,000	2,868,000				8,415,000					2,431,000
cash and cash equivalents, beginning of year																																									35,780,000	35,780,000				41,636,000	41,636,000	31,980,000			31,980,000	31,980,000	29,940,000			29,940,000	29,940,000	14,143,000			14,143,000	13,406,000	13,406,000			13,406,000	13,406,000	4,991,000				11,938,000	4,991,000
cash and cash equivalents, end of period																																									43,919,000	43,919,000			39,597,066,000	36,934,000	36,934,000		-2,114,000	-10,340,000	42,282,000	42,282,000		-7,919,000	4,815,000	30,168,000	30,168,000		-2,825,000	7,248,000	11,000,000			3,985,000	1,117,000	11,774,000	11,774,000						7,422,000
supplemental cash flow information:
cash and cash equivalents are comprised of:
cash																																									43,918,000				39,594,067,000	36,933,000		37,324,000	-4,890,000	-8,057,000	39,996,000	39,996,000	28,200,000	-2,219,000	-893,000	30,163,000	30,163,000	28,929,000	-2,827,000			14,142,000	14,142,000	3,984,000	1,118,000	11,773,000	11,773,000	13,406,000			2,278,000	4,991,000	7,422,000
cash equivalents																																									1,000				2,999,000	1,000		4,312,000	2,776,000	-2,283,000	2,286,000	2,286,000	3,780,000	-5,700,000	5,708,000	5,000	5,000	1,011,000	2,000			1,000	1,000			1,000	1,000
cash and cash equivalents are comprised of: - sum																																									43,919,000					36,934,000		41,636,000		-10,340,000	42,282,000	42,282,000	31,980,000	-7,919,000		30,168,000	30,168,000	29,940,000
cash paid during the period for:
income taxes																																									8,330,000				9,663,038,000	12,962,000		35,333,000	-4,832,000	-1,443,000	12,322,000	12,322,000	35,429,000	-4,999,000	473,000	11,692,000	11,692,000	53,531,000	-6,126,000			49,509,000	49,509,000	-7,143,000	1,306,000	15,043,000	15,043,000	21,226,000			-14,204,000	16,785,000	3,840,000
interest																																									12,190,000				15,584,957,000	15,043,000		60,358,000	-255,000	1,416,000	14,369,000	14,369,000	62,336,000	2,099,000	-793,000	15,278,000	15,278,000	57,109,000	1,169,000			59,289,000	59,289,000		-1,314,000	16,296,000	16,296,000	39,426,000			-25,972,000	33,428,000	8,401,000
condensed consolidated statement of operations
revenues																																									460,205,000																																		268,411,000		253,700,000
operating expenses																																									297,500,000																																		156,195,000		148,597,000
selling, general and administration																																									58,716,000
amortization																																									64,009,000																																		41,946,000		41,154,000
operating income																																									49,174,000																																		36,998,000		31,349,000
net foreign exchange loss																																									-283,000																																		3,000		1,000
income before net income tax expense																																									23,242,000
net income tax expense																																									5,121,000																																		2,073,000		6,454,000
adjusted ebitda																																									106,872,000																																	75,941
adjusted ebita																																									54,161,000
adjusted operating income or adjusted operating ebit																																									52,057,000
adjusted net income																																									28,242,000
free cash flow																																									34,685,000																																	41,860	38,504,000		21,476,000
add back the following:
income tax (recovery) expense																																									-3,920,000
transaction and related costs - sg&a																																									81,000
fair value movements in stock options - sg&a																																									2,716,000
restricted share expense - sg&a																																									423,000
non-operating expenses - sg&a																																									21,871,000
less the following:
amortization of capital and landfill assets																																									54,864,000
net income tax recovery																																									-9,939,000
note:
(*)amounts exclude long-term incentive plan ("ltip") compensation.
balance at december 31, 2015
net loss
dividends declared																																																																											2,523,000		2,381,000
restricted shares purchased
vesting of restricted shares
common shares issued on exercise of share based options, net of related costs
share based compensation
common shares acquired by u.s. long-term incentive plan																																										2,606,000
deferred compensation obligation																																										-2,606,000
foreign currency translation adjustment
balance at march 31, 2016
balance at december 31, 2014
restricted shares purchased, net of restricted shares sold
common shares issued on exercise of share based options
balance at march 31, 2015
loss on extinguishment of debt
net loss on sale of capital and landfill assets																																														-9,194,000					3,033,000
re-measurement gain on previously held equity investment																																																			-5,156,000
deferred income taxes																																													-2,299,284,000	284,000					-3,487,000				4,004,000	7,024,000	7,024,000	17,841,000	-920,000			2,315,000	2,315,000	1,435,000	1,302,000	5,620,000	5,620,000	19,410,000			-14,211,000	19,846,000	1,865,000
net loss from equity accounted investee																																																82,000			82,000	82,000		24,000	-27,000	33,000	33,000	41,000	-4,000			96,000	96,000	10,000			4,000	118,000
restricted cash deposits																																																			-1,000					-1,000
payment of deferred financing costs																																																			-48,000					-48,000					-55,000					-1,020,000
cash generated from (utilized in) financing activities																																																										209,593,000										134,227,000					30,650,000
cash and cash equivalents, beginning of period or year																																																	-10,340,000					4,815,000					7,248,000					1,117,000
cash and cash equivalents, end of year																																																41,636,000					31,980,000					29,940,000				14,143,000	14,143,000					13,406,000				4,991,000
cash paid during the period or year for:
operating and investing
stock option
expense
ltip portion of restricted
share expense
acquisition and related
costs
non-operating or non- recurring expenses
restructuring expenses
capital and landfill asset purchases
capital and landfill asset change in non-cash working capital
purchase of restricted shares																																																			-3,455,000					-3,006,000
net realized foreign
exchange gain
(*)amounts exclude ltip compensation.
landfill closure and post- closure expenditures
landfill closure and post- closure cost accretion expense
non-cash interest expense																																																																										709
current income tax expense
net gain on sale of capital landfill assets
proceeds from the exercise of stock options																																													-107,053,000	53,000	53,000	123,000	-3,000	3,000	32,000	32,000	112,000			3,000	3,000	403,000			310,000	2,385,000	2,385,000				292,000	4,261,000
net cash outflow																																																													-3,143,000
net (gain) loss on financial instruments																																																																												0	-1,701,000
net income from equity accounted investee
net cash (outflow) inflow																																														-4,702,000	-4,702,000																			-1,632,000
write-off of deferred financing costs																																																					1,240,000					11,726,000
investment in cost accounted for investee
investments in cost and equity accounted investees
cash paid during the year for:
deferred income tax expense																																																					28,908,000
investment in cost accounted investee
net loss (gain) on sale of capital and landfill assets																																																				3,033,000
net loss (gain) on financial instruments																																																				3,335,000
net gain on financial instruments																																																								-2,265,000										-1,926,000		-5,493,000							305,000		-5,485,000
net (income) income from equity accounted investee
net loss on sale of capital assets
investments in cost and equity accounted for investees
proceeds from the sale of capital assets																																																					21,183,000	-12,015,000	12,142,000	1,121,000	1,121,000	2,761,000	-308,000	129,000	719,000	5,925,000	5,925,000	977,000	-1,896,000	2,673,000	2,673,000
cash (utilized in) generated from financing activities																																																																		-20,990,000
interest on long-term debt (amortization of
deferred financing costs)																																																					3,436,000
net gain on sale of capital assets																																																								-617,000										-1,423,000
net (income) loss from equity accounted investee
acquisitions, net of cash acquired
purchase of investment
repurchase of common shares																																																												-1,860,000	-29,308,000					-23,500,000
goodwill impairment																																																														360,557,000	360,557,000
net (gain) loss on sale of capital assets
restricted share (recovery) expense
write-off of landfill development assets																																																																				290,000				77,000
proceeds from asset divestitures																																																																				23,753,000
common shares issued, net of issue costs																																																																								209,264,000
dividends paid to share and participating preferred share holders
expenses
restructuring
other expenses
income before income tax expense (recovery) and net loss
from equity accounted investee
income tax expense																																																																											9,548,000		8,917,000
current
deferred
other comprehensive income
derivatives designated as cash flow hedges, net of
income tax
settlement of derivatives designated as cash flow hedges,
net of income tax
comprehensive income
net income - controlling interest
net income - non-controlling interest
comprehensive income - controlling interest
comprehensive income - non-controlling interest
net income per weighted-average share, basic
net income per weighted-average share, diluted
weighted-average number of shares outstanding
(thousands), basic
(thousands), diluted
net (loss) income																																																															-196,136,000
netloss on sale of capital assets
net foreign exchangeloss
income before income tax expense and net loss from equity accounted investee
other comprehensive(loss) income
derivatives designated as cash flow hedges, net of income tax 2,563 and 3,411
settlement of derivatives designated as cash flow hedges, net of income tax
comprehensive(loss) income
net income- controlling interest
net income- non-controlling interest
comprehensive(loss) income- controlling interest
comprehensive income- non-controlling interest
weighted-average number of shares outstanding (thousands), basic
weighted-average number of shares outstanding (thousands), diluted
acquisitionsn net of cash acquired
derivatives designated as cash flow hedges, net of income tax 2,683 and 848
income from equity accounted investee																																																																		4,000
proceeds from exercise of stock options																																																																		292,000
dividends paid to share and participating preferred shareholders																																																																		-15,429,000
balance at december 31, 2010																																																																			1,878,286,000
dividends
common shares issued on exercise of stock options																																																																			510,000
derivatives designated as cash flow hedges, net of income tax
balance at march 31, 2011																																																																			1,863,368,000
restricted cash withdrawals																																																																								82,000
operating results
conversion costs																																																																											93,000		115,000
other incomes																																																																										24	44,000		35,000
income before net income tax expense and net income from equity
accounted investee
weighted-average number of shares outstanding (thousands),
basic
diluted
adjusted operating income
adjusted net income(a) per weighted-average share, basic
adjusted net income(a) per weighted-average share, diluted
replacement and growth expenditures
replacement expenditures																																																																											19,322,000
growth expenditures																																																																											8,839,000
total replacement and growth expenditures																																																																											28,161,000		39,217,000
free cash flow(b) per weighted-average share, diluted
total dividends declared
total dividends declared per weighted-average share, diluted
march 31
june 30
september 30
december 31
stock option expense																																																																										761
acquisition and related costs																																																																										1,998
interest on long-term debt — high yield defeasance interest
financing and landfill development costs
net realized foreign exchange loss																																																																										30
landfill closure and post-closure cost accretion expense																																																																										880
sg&a																																																																											32,301,000		31,881,000
income before income tax expense and net loss from equity
commodity swaps designated as cash flow hedges, net of income tax
settlement of commodity swaps designated as cash flow hedges,
purchase of restricted shares or trust units
effect of foreign currency translation on cash and cash
equivalents
dividends paid to share and participating preferred shareholders and distributions paid to unitholders
loss from equity accounted investee																																																																									25,000
cash paid (recovered) during the period for:
recovery (payment) of deferred financing costs
dividends and distributions paid to share or unitholders and dividends paid to participating preferred shareholders
selling, general and administrative																																																																											33,272,000		32,600,000
net foreign exchange gain																																																																											61,000		93,000
income before income taxes																																																																											28,657,000		24,022,000
net income per weighted-average share or trust unit, basic																																																																											200		190
net income per weighted-average share or trust unit, diluted																																																																											200		180
weighted-average number of shares or trust units
outstanding (thousands), basic																																																																											82,294,000		70,809,000
outstanding (thousands), diluted																																																																											93,431,000		81,946,000
operating and free cash flow
free cash flow(b) per weighted-average share or trust unit
outstanding, diluted																																																																											410		260
dividends and distributions
dividends and distributions declared																																																																											18,546,000		17,495,000
total dividends and distributions declared																																																																											21,069,000		19,876,000
total dividends or distributions declared per weighted-average
share or trust unit, diluted																																																																											230		240
consolidated statement of operations
net income on financial instruments																																																																											98,000
ebitda																																																																											80,725,000		76,987,000
accretion of landfill closure post-closure costs
net (gain) loss on sale of capital and landfill assets																																																																													-126,000
future income taxes
cash paid (received) during the period for:
dividends and distributions paid to share or unitholders and
dividends paid to participating preferred shareholders
cash and cash equivalents are
comprised of:
replacement capital and landfill purchases ("replacement
expenditures")																																																																													16,983,000
growth capital and landfill purchases																																																																													22,234,000
free cash flow (b) per weighted-average share or trust unit
share or trust unit based compensation
write-off of landfill development costs
restricted cash proceeds
investment in landfill development costs
common shares or trust units issued, net of issue costs
purchase of restricted trust units
effect of foreign exchange changes on foreign cash and cash equivalents
cash and cash equivalents, beginning of period

Waste Connections, Inc(NYSE:WCN)

Waste Connections, Inc
(NYSE:WCN)