AI interpretation based on checked source excerpts. Issuer assertions and evidence limitations remain explicit.
Policy quality-scores-2: six equally weighted categories. The overall score requires full coverage. Missing inputs are not zero. Qualitative grades are sourced interpretations, not probabilities. 5/6 · 18/10/2026
Moat56
Equal-weight average of four evidence-backed rubric grades (0–4), scaled to 100.
structural advantage · 3/4 · Owned collection, transfer and disposal assets, substantial intercompany activity and disclosed difficulty competing without landfill ownership support an integrated local infrastructure advantage. Relative cost savings and local market strength remain unquantified.
durability · 2/4 · Physical site-development requirements support persistence, but the supplied record lacks remaining asset lives, capacity scarcity and entry history. Rival integration and municipal financing advantages constrain durability.
customer dependency · 2/4 · Recurring collection activity and management's retention disclosure support ongoing customer demand indirectly. Long-term contracting is a stated pursuit, while bid competition and retention-related price concessions limit evidence of customer lock-in.
erosion resilience · 2/4 · Positive realized pricing and stable operating margins show resilience, but collection volumes declined and local infrastructure gaps create exposure. The passages do not establish whether volume weakness includes competitive customer losses.
Pricing power63
Equal-weight average of four evidence-backed rubric grades (0–4), scaled to 100.
realized pricing · 3/4 · Average yield contributed 5.1% and 4.1% of total revenue in 2024 and 2025, respectively, and 3.4% in first-half 2026. Positive pricing across business lines is demonstrated, although yield growth slowed and volumes declined.
retention · 2/4 · Retention is assessed indirectly from recurring service revenue and continued positive pricing, supplemented by management's unquantified high-retention assertion. Declining volumes and disclosed retention concessions prevent a strong grade; volumes are not a customer churn rate.
margin resilience · 3/4 · First-half 2026 operating margin was 20.3% versus 20.2%, with quarterly margin unchanged at 20.3%, despite lower volumes. Realized pricing and fuel recovery support resilience, without proving that pricing alone caused the result.
contractual freedom · 2/4 · Actual price increases and fuel recovery demonstrate practical ability to adjust charges. Competitive bidding and customer-retention discounts constrain that ability; escalation clauses, repricing rights and regulated or indexed revenue shares are not supplied.
Predictability99
Five consecutive annual periods. Equal weights: nondeclining revenue frequency; revenue-growth volatility (5–40pp); positive FCF frequency; FCF-margin volatility (3–20pp). Stability indicator, not a growth forecast.
- Nondeclining revenue years (%)
- 100.00
- Revenue growth volatility (pp)
- 5.99
- Positive FCF years (%)
- 100.00
- FCF margin volatility (pp)
- 0.61
Financial strength24
Equal-weight grades: debt/FCF (1–8x), net debt/earnings before interest and tax (0–5x), interest service (1–12x), current ratio (0.75–2x). Earnings use reported operating income, or reported pretax profit plus reported interest expense when operating income is unavailable. Interest service uses earnings/interest expense; if unavailable, it uses reported operating cash flow/cash interest paid, without relabeling cash paid as accrued expense. Nonpositive cash flow/earnings score 0 for their service component; reported zero interest with a positive numerator scores 100. Net cash scores 100 for net leverage. Missing disclosures remain unavailable. General nonfinancial-company rubric, not a credit rating; exceptional and nonoperating gains are not normalized out. IFRS finance-cost and cash-flow classifications retain their reported scope.
- debtFcfGrade
- 33.75
- netDebtEbitGrade
- 18.20
- interestCoverageGrade
- 43.21
- currentRatioGrade
- 0.00
- Debt / FCF (x)
- 5.64
- Net debt / operating income (x)
- 4.09
- Interest coverage (x)
- 5.75
- Current ratio (x)
- 0.64
Capital allocation—
Missing required inputs: sbcRevenue. Three-year equal-weight indicators: pretax return on average invested capital (0–25%; equity + debt − cash, each year and its prior year), share-count growth (0–5%, lower better), share-based cost/revenue (2–20%, lower better), consolidated FCF/net income (0–1x). Return uses reported operating income or, if unavailable, EBIT calculated from reported pretax profit plus reported interest expense; exceptional/nonoperating gains are not normalized out. Share-based cost uses the reported cash-flow add-back or, if absent, separately reported recognized compensation expense; the latter never becomes an FCF adjustment. Nonpositive net income scores 0 for cash conversion; absent income/FCF stays unavailable. Nonpositive invested capital has no defined return and remains unavailable. Does not establish acquisition quality or buyback timing.
- 3-year pre-tax operating return (%)
- 13.11
- 3-year average dilution (%)
- -0.49
- cashConversionGrade
- 100.00
Management69
Equal-weight average of four evidence-backed rubric grades (0–4), scaled to 100.
capital discipline · 2/4 · Operating cash flow increased from $3.618 billion in 2023 to $4.296 billion in 2025 alongside higher capital expenditure and improving issuer-adjusted ROIC. Repurchases reduced weighted average shares and facility availability improved. However, first-half equity-method losses rose to $110 million from $14 million, and the passages do not establish acquisition or buyback value creation.
incentive alignment · 3/4 · The implemented 80% PSU mix and cash-flow and capital-return measures support alignment. Actual 2025 annual incentive payout fell to 91.79% after the EPS measure missed target and the modifier reduced payout. Actual group ownership is disclosed, but award exclusions and removal of ROIC weighting above target temper the assessment.
execution · 3/4 · Cash generation improved, pricing remained positive, operating margins held, and a second Polymer Center opened with subsequent volume growth. These are demonstrated outcomes; attribution to management is partly indirect. Volume declines, labor-disruption adjustments and higher equity-method losses prevent an exceptional grade.
governance · 3/4 · Disclosed practices include an independent chairman, independent committees, annual elections, majority voting, shareholder written consent, proxy access and anti-hedging policies. The finance committee held five meetings and conducts post-acquisition reviews. These support strong governance structure and activity, with effectiveness beyond the issuer's disclosures unproven.
Evidence
We operate across the United States and Canada through 377 collection operations, 255 transfer stations, 79 recycling centers, 207 active landfills, 2 treatment, recovery and disposal facilities, 24 treatment, storage and disposal facilities (TSDF), 5 salt water disposal wells, 15 deep injection wells, 9 industrial wastewater treatment facilities, and 2 polymer centers.
Business overview: operating infrastructure · Filed 18/02/2026
We operate throughout the United States and Canada, but the physical collection and recycling or disposal of material is largely a local business, and the dynamics and opportunities differ in each market we serve.
Business: local market dynamics · Filed 18/02/2026
In certain markets in which we do not own or operate a landfill, our collection operations may have difficulty competing effectively.
Competition risks: difficulty competing without landfill ownership · Filed 18/02/2026
36 Table of Contents The following table reflects our revenue by service line for the years ended December 31, 2025 and 2024 (in millions of dollars and as a percentage of revenue): 2025 2024 Collection: Residential $ 3,010 18.1 % $ 2,939 18.3 % Small-container 5,055 30.5 4,820 30.1 Large-container 3,098 18.7 3,024 18.9 Other 70 0.4 72 0.4 Total collection 11,233 67.7 10,855 67.7 Transfer 1,833 1,780 Less: intercompany (985) (975) Transfer, net 848 5.1 805 5.0 Landfill 3,202 2,981 Less: intercompany (1,282) (1,240) Landfill, net 1,920 11.6 1,741 10.9 Environmental solutions 1,828 1,907 Less: intercompany (62) (64) Environmental solutions, net 1,766 10.6 1,843 11.5 Other: Recycling processing and commodity sales 433 2.6 409 2.5 Other non-core 391 2.4 379 2.4 Total other 824 5.0 788 4.9 Total revenue $ 16,591 100.0 % $ 16,032 100.0 % The following table reflects changes in components of our revenue, as a percentage of total revenue, for the years ended December 31, 2025 and 2024: 2025 2024 Average yield 4.1 % 5.1 % Fuel recovery fees (0.1) (0.4) Total price 4.0 4.7 Volume (0.6) (1.1) Change in workdays (0.1) 0.3 Recycling processing and commodity sales — 0.5 Environmental solutions (1.0) 0.1 Other(1) (0.1) — Total internal growth 2.2 4.5 Acquisitions / divestitures, net 1.3 2.6 Total 3.5 % 7.1 % Core price 5.9 % 6.5 % (1) Other represents customer credits recognized in connection with recent labor disruptions.
MD&A: service-line revenue, intercompany activity and 2024–2025 pricing and volume · Filed 18/02/2026
These costs include all costs to acquire and construct a site, including excavation, natural and synthetic liners, construction of leachate collection systems, installation of methane gas collection and monitoring systems, installation of groundwater monitoring wells and other costs associated with acquiring and developing the site.
Landfill accounting: site acquisition and development requirements · Filed 18/02/2026
30 Table of Contents The following table reflects our revenue by service line for the three and six months ended June 30, 2026 and 2025 (in millions of dollars and as a percentage of revenue): Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Collection: Residential $ 767 17.3 % $ 752 17.8 % $ 1,515 17.7 % $ 1,496 18.1 % Small-container 1,369 30.9 1,259 29.7 2,675 31.3 2,502 30.3 Large-container 839 19.0 794 18.7 1,607 18.8 1,532 18.6 Other 18 0.4 17 0.4 35 0.4 35 0.4 Total collection 2,993 67.6 2,822 66.6 5,832 68.2 5,565 67.4 Transfer 495 479 935 903 Less: intercompany (264) (258) (503) (494) Transfer, net 231 5.2 221 5.2 432 5.1 409 5.0 Landfill 858 854 1,622 1,577 Less: intercompany (341) (338) (652) (640) Landfill, net 517 11.7 516 12.2 970 11.4 937 11.4 Environmental solutions 473 478 891 944 Less: intercompany (15) (16) (28) (33) Environmental solutions, net 458 10.3 462 10.9 863 10.1 911 11.1 Other: Recycling processing and commodity sales 122 2.7 114 2.7 234 2.7 222 2.7 Other non-core 109 2.5 100 2.4 213 2.5 200 2.4 Total other 231 5.2 214 5.1 447 5.2 422 5.1 Total revenue $ 4,430 100.0 % $ 4,235 100.0 % $ 8,544 100.0 % $ 8,244 100.0 % The following table reflects changes in components of our revenue, as a percentage of total revenue, for the three and six months ended June 30, 2026 and 2025: Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Average yield 3.4 % 4.1 % 3.4 % 4.3 % Fuel recovery fees 1.8 (0.3) 1.0 (0.4) Total price 5.2 3.8 4.4 3.9 Volume (1.6) 0.2 (1.2) (0.5) Change in workdays — — — (0.2) Recycling processing and commodity sales 0.1 — — 0.1 Environmental solutions (0.2) (0.9) (0.7) (0.3) Total internal growth 3.5 3.1 2.5 3.0 Acquisitions / divestitures, net 1.1 1.5 1.1 1.2 Total 4.6 % 4.6 % 3.6 % 4.2 % Core price 5.3 % 5.7 % 5.5 % 5.9 % Average yield is defined as revenue growth from the change in average price per unit of service, expressed as a percentage.
MD&A: service-line revenue, intercompany activity and first-half 2026 pricing and volume · Filed 07/08/2026
31 Table of Contents The following table reflects core price, average yield and volume as a percentage of related-business revenue for the three and six months ended June 30, 2026 and 2025: Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 As a % of Related Business As a % of Related Business Core price 6.4 % 7.0 % 6.6 % 7.2 % Average yield 4.0 % 5.0 % 4.1 % 5.2 % Volume (1.9) % 0.2 % (1.5) % (0.6) % During the three and six months ended June 30, 2026, we experienced the following changes in our revenue as compared to the same period in 2025: •Average yield increased revenue by 3.4% for the three and six months ended June 30, 2026 due to positive pricing changes in all lines of business.
MD&A: realized core pricing, yield and volume · Filed 07/08/2026
The following table summarizes our revenue, expenses and operating income for the three and six months ended June 30, 2026 and 2025 (in millions of dollars and as a percentage of revenue): Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Revenue $ 4,430 100.0 % $ 4,235 100.0 % $ 8,544 100.0 % $ 8,244 100.0 % Expenses: Cost of operations 2,563 57.9 2,449 57.9 4,929 57.7 4,763 57.8 Depreciation, depletion and amortization of property and equipment 428 9.7 415 9.8 830 9.7 804 9.8 Amortization of other intangible assets 23 0.5 22 0.5 46 0.5 43 0.5 Amortization of other assets 37 0.8 26 0.6 73 0.8 50 0.6 Accretion 30 0.7 28 0.7 60 0.7 57 0.7 Selling, general and administrative 444 10.0 425 10.0 870 10.2 852 10.3 Restructuring charges 4 0.1 6 0.1 6 0.1 9 0.1 (Gain) loss on business divestitures and impairments, net — — 3 0.1 (1) — 1 — Operating income $ 901 20.3 % $ 861 20.3 % $ 1,731 20.3 % $ 1,665 20.2 % Our pre-tax income was $699 million and $1,355 million for the three and six months ended June 30, 2026, respectively, compared to $720 million and $1,385 million for the same periods in 2025, respectively.
MD&A: operating expenses, operating income and margins · Filed 07/08/2026
Further, many counties and municipalities that operate their own collection and disposal facilities have the benefits of tax revenue and greater opportunities for tax-exempt financing.
Competition risks: municipal financing advantages · Filed 18/02/2026
Our ability to obtain solid waste volume for our landfills also may be limited by the fact that some major collection operations also own or operate landfills to which they send their waste.
Competition risks: rival internalization of landfill volumes · Filed 18/02/2026
For example, we may not be the successful bidder, we may need to lower our price in order to win or retain a contract, and our competitors may have lower financial expectations that permit them to reduce their prices in order to win a contract.
Competition risks: bidding and potential price concessions · Filed 18/02/2026
•Volume decreased revenue by 1.6% and 1.2% during the three and six months ended June 30, 2026, respectively, primarily due to a decrease in volume in our collection lines of business.
MD&A: realized collection-volume declines · Filed 07/08/2026
Landfill and Environmental Matters Our landfill costs include daily operating expenses, costs of capital for cell development, costs for final capping, closure and post-closure and the legal and administrative costs of ongoing environmental compliance.
Landfill matters: development, closure and compliance costs · Filed 18/02/2026
Both direct and indirect costs associated with compliance with this and other greenhouse gas legislation could have a material adverse effect on our consolidated financial condition, results of operations and cash flows, including material increases to our capital or operating costs related to matters such as infrastructure upgrades or increased fuel costs.
Climate regulation risks: potential compliance expenditures · Filed 18/02/2026
We seek to obtain long-term contracts for collecting recyclables, solid waste and industrial waste under residential collection contracts with municipalities, exclusive franchise agreements, small-container and large-container contracts and environmental solutions service contracts.
Growth strategy: pursuit of long-term collection and franchise agreements · Filed 18/02/2026
Fused with our differentiating capabilities — Customer Zeal, Digital and Sustainability — we’re capturing new opportunities and sustaining high customer retention.
Shareholder letter: management assertion of high customer retention · Filed 24/03/2026
The decline in revenue in our large-container collection line of business was primarily driven by a slowing in construction-related activity and certain manufacturing end markets.
MD&A: construction and manufacturing explanation for large-container weakness · Filed 07/08/2026
•Fuel recovery fees, which mitigate our exposure to changes in fuel prices, increased revenue by 1.8% and 1.0% for the three and six months ended June 30, 2026, respectively, due to an increase in fuel prices compared to the same periods in 2025.
MD&A: realized fuel recovery fees · Filed 07/08/2026
Core price is defined as price increases to our customers and fees, excluding fuel recovery fees, net of price decreases to retain customers.
MD&A: core price definition includes customer-retention concessions · Filed 07/08/2026
2026 Proxy Statement | 105 Table of Contents PROXY SUMMARY BOARD AND GOVERNANCE EXECUTIVE COMPENSATION PROPOSALS MEETING INFORMATION ANNEX Calculation of Actual Results for Annual Incentive Performance Measures and GAAP Reconciliation EARNINGS PER SHARE MEASURE FY 2023 FY 2024 FY 2025 Diluted earnings per share—as reported $ 5.47 $ 6.49 $ 6.85 Loss (gain) on extinguishment of debt and other related costs — (0.01 ) — Restructuring charges 0.08 0.07 0.05 Settlement and withdrawals on pension plans 0.01 (0.02 ) — Loss (gain) on business divestitures and asset impairments, net (0.03 ) (0.07 ) — US Ecology acquisition integration and deal costs 0.08 — — Benefit from RNG tax credit — (0.05 ) — Labor disruption — — 0.12 Earnings per share measure $ 5.61 $ 6.41 $ 7.02 FREE CASH FLOW MEASURE (IN MILLIONS) FY 2023 FY 2024 FY 2025 Cash provided by operating activities $ 3,618 $ 3,936 $ 4,296 Property and equipment received (1,717 ) (1,818 ) (1,923 ) Proceeds from sales of property and equipment 29 47 13 Divestiture related tax (payments) benefits 1 — — Cash tax benefit for debt extinguishment and other related costs — (1 ) — Adjustment to withdrawal liability for a multiemployer pension fund, net of tax — — — Restructuring payments, net of tax 29 19 9 US Ecology acquisition integration and deal costs, net of tax 25 — — Labor disruption, net of tax — — 38 Free cash flow measure $ 1,985 $ 2,183 $ 2,433 106 | Republic Services, Inc.
Compensation appendix: operating cash flow, capital expenditure and incentive adjustments · Filed 24/03/2026
2026 Proxy Statement Table of Contents PROXY SUMMARY BOARD AND GOVERNANCE EXECUTIVE COMPENSATION PROPOSALS MEETING INFORMATION ANNEX Calculation of Actual Results for 2023-2025 PSU Performance Measures* THREE YEAR CASH FLOW VALUE CREATION MEASURE (IN MILLIONS) FY 2023 FY 2024 FY 2025 Net Income per LTI definition $ 1,751 $ 1,997 $ 2,178 Add: after tax interest expense per LTI definition 394 451 464 Add: DD&A and accretion 1,599 1,784 1,928 Operating cash flow 3,744 4,232 4,570 Less: capital charge (1,772 ) (1,878 ) (1,963 ) Cash flow value creation $ 1,972 $ 2,354 $ 2,607 Three year cash flow value creation measure $ 6,933 THREE YEAR RETURN ON INVESTED CAPITAL MEASURE (IN MILLIONS EXCEPT WHERE NOTED AS A PERCENTAGE) FY 2023 FY 2024 FY 2025 Net Income per LTI definition $ 1,751 $ 1,997 $ 2,178 Add: after tax interest expense per LTI definition 394 451 464 Adjusted net income 2,145 2,448 2,642 Average net assets per LTI definition $ 22,153 $ 23,473 $ 24,551 Return on Invested Capital 9.7% 10.4% 10.8% Sum of three year adjusted net income $ 7,235 Sum of three year average net assets $ 70,177 Three year return on invested capital 10.3% * ROIC and CFVC are adjusted to exclude gains or losses (or related impairments) from divestitures, impairments of goodwill and other costs and impairments resulting from exiting a business, losses recorded on the extinguishment of debt instruments, gains or losses associated with withdrawal from or termination of one or more benefit plans, certain acquisition and integration costs, certain tax benefits, material changes caused by new accounting rules or new interpretations of previous accounting rules and other similar events or circumstances.
Compensation appendix: adjusted capital returns and cash flow value creation · Filed 24/03/2026
UNAUDITED CONSOLIDATED STATEMENTS OF INCOME (in millions, except per share data) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Revenue $ 4,430 $ 4,235 $ 8,544 $ 8,244 Expenses: Cost of operations 2,563 2,449 4,929 4,763 Depreciation, depletion and amortization 488 463 949 897 Accretion 30 28 60 57 Selling, general and administrative 444 425 870 852 Restructuring charges 4 6 6 9 (Gain) loss on business divestitures and impairments, net — 3 (1) 1 Operating income 901 861 1,731 1,665 Interest expense (151) (145) (302) (285) Loss from unconsolidated equity method investments (58) (2) (110) (14) Interest income 2 2 5 4 Other income, net 5 4 31 15 Income before income taxes 699 720 1,355 1,385 Provision for income taxes 133 170 263 340 Net income 566 550 1,092 1,045 Net income attributable to non-controlling interests in consolidated subsidiary — — — — Net income attributable to Republic Services, Inc.
Income statement: equity-method losses, interest expense and earnings · Filed 07/08/2026
Share repurchase activity during the three and six months ended June 30, 2026 and 2025 follows (in millions, except per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Number of shares repurchased 1.7 — 3.1 0.3 Amount paid $ 359 $ — $ 651 $ 55 Weighted average cost per share $ 207.43 $ — $ 212.14 $ 201.40 As of June 30, 2026 and 2025, there were no repurchased shares pending settlement.
Financial statement notes: actual share repurchases · Filed 07/08/2026
stockholders: Basic earnings per share $ 1.84 $ 1.76 $ 3.54 $ 3.34 Weighted average common shares outstanding 307.5 313.1 308.3 313.0 Diluted earnings per share attributable to Republic Services, Inc.
Income statement: weighted average common shares · Filed 07/08/2026
As a result, availability under the Credit Facility was $2.6 billion and $1.8 billion as of June 30, 2026 and December 31, 2025, respectively.
Debt note: credit facility availability · Filed 07/08/2026
With this update, the LTI mix is comprised of 80% PSUs and 20% RSUs.
Compensation discussion: implemented long-term incentive mix · Filed 24/03/2026
the S&P 500 (“RTSR”). For PSUs granted during the 2025 to 2027 performance period, both ROIC and CFVC are weighted at 50% if ROIC remains below target.
Compensation discussion: 2025–2027 PSU metric weighting · Filed 24/03/2026
If ROIC is above target, CFVC will be the only metric weighted.
Compensation discussion: weighting above the ROIC target · Filed 24/03/2026
2023 2024 2025 EPS MEASURE TARGET $ 5.27 $ 6.09 $ 7.06 EPS MEASURE ACTUAL $ 5.61 $ 6.41 $ 7.02 FCF MEASURE TARGET $ 1,915 $ 2,143 $ 2,407 FCF MEASURE ACTUAL $ 1,985 $ 2,183 $ 2,433 FINANCIAL INCENTIVE PAYOUT 164.15% 152.46% 94.29% SUSTAINABILITY AND PERFORMANCE MODIFIER -3% 0% -2.5% TOTAL ANNUAL INCENTIVE PAYOUT 161.15% 152.46% 91.79% Long-Term Incentive Awards The Talent & Compensation Committee strongly believes in using LTI compensation to reinforce key objectives that drive financial progress and sustained shareholder value creation: • focus on the importance of shareholder returns; • promote the achievement of long-term performance goals; • encourage executive retention; and • promote meaningful levels of Republic stock ownership by executives.
Compensation discussion: historical targets, outcomes and actual incentive payouts · Filed 24/03/2026
(5) The aggregate amount of common stock beneficially owned by all current directors and all executive officers as a group consists of (a) 365,793 shares, and (b) 937 shares that may be acquired upon settlement of RSUs within 60 days after March 9, 2026.
Ownership disclosure: actual director and executive group holdings · Filed 24/03/2026
Key features of our corporate governance practices are noted below: ✓ Shareholder Engagement Program with select participation of independent directors ✓ Clawback Policy More Robust than SEC and NYSE Requirements ✓ Proxy Access Right ✓ Board Evaluation Process ✓ Independent Board Chairman ✓ Formal Onboarding Program for New Directors ✓ Director and Executive Succession Planning ✓ Majority Vote Standard ✓ Majority Independent Board (12 of 13 director nominees) ✓ Deferral of Compensation for Directors (restricted stock units or cash) ✓ No Supermajority Vote Requirements ✓ One Share, One Vote Structure ✓ Shareholder Action by Written Consent ✓ Political Contributions Policy ✓ Independent Board Committees ✓ Mandatory Retirement Age for Directors ✓ Annual Director Elections ✓ Anti-Hedging and Anti-Pledging Policies ✓ Human Rights Policy ✓ Code of Business Ethics and Conduct for Board and Company employees ✓ Policy Limiting Directors’ Service on Other Public Company Boards ✓ Supplier Code of Business Ethics and Conduct Republic Services, Inc.
Governance summary: board structure, shareholder rights and policies · Filed 24/03/2026
Tyler Finance Committee Key Responsibilities • Reviews the financial condition of the Company including the annual finance plan, long-term financial objectives, capital allocation and financial management principles • Reviews and makes recommendations on management proposals for financing requirements, dividends, proposed capital budget, certain capital expenditures and the repurchase of Company stock • Evaluates the financial impact of certain acquisitions and divestitures and conducts post-acquisition reviews • Annually reviews the Company’s insurable risk management strategy • Reviews and reports to the Board on the significant financial impact of benefit plans, including retirement plans The committee held FIVE meetings and met regularly in executive sessions during 2025 James P.
Governance: finance committee responsibilities and 2025 meetings · Filed 24/03/2026
In 2025, we commenced operations at our second Polymer Center in Indianapolis, Indiana and construction began at our third Polymer Center in Allentown, Pennsylvania.
Business: completed Polymer Center opening and construction activity · Filed 18/02/2026
For the six months ended June 30, 2026, volume increased at our Polymer Centers.
MD&A: realized Polymer Center volume growth · Filed 07/08/2026
We principally compete with large national waste management companies, numerous municipalities and numerous regional and local companies.
Competition risks: generic competitor categories · Filed 18/02/2026
