Condensed Consolidating Financial Statements (Tables)

6 Months Ended

Jun. 30, 2011

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Consolidating Balance Sheets

Condensed Consolidating Balance Sheets
(in millions)

	June 30, 2011
					Non -
	Parent		Guarantors		Guarantors			Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	15.6	$	301.8	$	3.1		$	—		$	320.5
Accounts receivable, net		—		845.0		27.3			—			872.3
Prepaid expenses and other current assets		70.3		77.5		21.8			—			169.6
Deferred tax assets		106.9		—		10.3			—			117.2
Total current assets		192.8		1,224.3		62.5			—			1,479.6
Restricted cash and marketable securities		29.2		47.4		83.5			—			160.1
Property and equipment, net		50.1		6,283.1		369.5			—			6,702.7
Goodwill		—		10,640.2		—			—			10,640.2
Other intangible assets, net		18.6		420.6		—			—			439.2
Investment and net advances to affiliate		15,161.0		32.6		150.5			(15,344.1	)		—
Other assets		111.8		96.0		52.4			—			260.2
Total assets	$	15,563.5	$	18,744.2	$	718.4		$	(15,344.1	)	$	19,682.0
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	157.6	$	307.3	$	11.9		$	—		$	476.8
Notes payable and current maturities of long-term debt		388.6		7.4		1.8			—			397.8
Deferred revenue		—		301.2		3.7			—			304.9
Accrued landfill and environmental costs, current portion		—		187.9		—			—			187.9
Accrued interest		72.7		11.6		0.1			—			84.4
Other accrued liabilities		336.9		229.7		185.6			—			752.2
Total current liabilities		955.8		1,045.1		203.1			—			2,204.0
Long-term debt, net of current maturities		5,861.3		1,032.4		14.0			—			6,907.7
Accrued landfill and environmental costs, net of current portion		—		1,163.6		270.2			—			1,433.8
Deferred income taxes and other long-term tax liabilities		984.3		—		(8.6	)		—			975.7
Self-insurance reserves, net of current portion		—		83.2		216.4			—			299.6
Other long-term liabilities		97.4		45.3		51.8			—			194.5
Commitments and contingencies
Stockholders’ equity:
Common stock		4.0		—		—			—			4.0
Other equity		7,660.7		15,374.6		(30.5	)		(15,344.1	)		7,660.7
Total Republic Services, Inc. stockholders’ equity		7,664.7		15,374.6		(30.5	)		(15,344.1	)		7,664.7
Noncontrolling interests		—		—		2.0			—			2.0
Total stockholders’ equity		7,664.7		15,374.6		(28.5	)		(15,344.1	)		7,666.7
Total liabilities and stockholders’ equity	$	15,563.5	$	18,744.2	$	718.4		$	(15,344.1	)	$	19,682.0

Condensed Consolidating Balance Sheets
(in millions)

	December 31, 2010
					Non-
	Parent		Guarantors		Guarantors			Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	14.5	$	71.1	$	2.7		$	—		$	88.3
Accounts receivable, net		—		800.6		28.3			—			828.9
Prepaid expenses and other current assets		112.0		74.8		20.6			—			207.4
Deferred tax assets		111.2		—		10.3			—			121.5
Total current assets		237.7		946.5		61.9			—			1,246.1
Restricted cash and marketable securities		39.8		47.0		86.0			—			172.8
Property and equipment, net		47.2		6,280.6		370.7			—			6,698.5
Goodwill		—		10,655.3		—			—			10,655.3
Other intangible assets, net		21.8		429.5		—			—			451.3
Investment and net advances to affiliate		13,513.9		40.9		149.1			(13,703.9	)		—
Other assets		88.2		94.7		55.0			—			237.9
Total assets	$	13,948.6	$	18,494.5	$	722.7		$	(13,703.9	)	$	19,461.9
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	89.7	$	500.2	$	16.6		$	—		$	606.5
Notes payable and current maturities of long-term debt		392.2		484.5		1.8			—			878.5
Deferred revenue		—		291.6		3.5			—			295.1
Accrued landfill and environmental costs, current portion		—		182.0		—			—			182.0
Accrued interest		61.4		31.7		—			—			93.1
Other accrued liabilities		222.3		200.5		198.5			—			621.3
Total current liabilities		765.6		1,690.5		220.4			—			2,676.5
Long-term debt, net of current maturities		4,090.8		1,760.0		14.3			—			5,865.1
Accrued landfill and environmental costs, net of current portion		—		1,148.1		268.5			—			1,416.6
Deferred income taxes and other long-term tax liabilities		1,053.3		—		(8.5	)		—			1,044.8
Self-insurance reserves, net of current portion		—		97.7		206.8			—			304.5
Other long-term liabilities		192.4		58.6		54.5			—			305.5
Commitments and contingencies
Stockholders’ equity:
Common stock		4.0		—		—			—			4.0
Other equity		7,842.5		13,739.6		(35.7	)		(13,703.9	)		7,842.5
Total Republic Services, Inc. stockholders’ equity		7,846.5		13,739.6		(35.7	)		(13,703.9	)		7,846.5
Noncontrolling interests		—		—		2.4			—			2.4
Total stockholders’ equity		7,846.5		13,739.6		(33.3	)		(13,703.9	)		7,848.9
Total liabilities and stockholders’ equity	$	13,948.6	$	18,494.5	$	722.7		$	(13,703.9	)	$	19,461.9

Condensed Consolidating Statements of Income

Condensed Consolidating Statements of Income
(in millions)

	Three Months Ended June 30, 2011
							Non-
	Parent			Guarantors			Guarantors			Eliminations			Consolidated
Revenue	$	—		$	2,030.7		$	74.1		$	(18.2	)	$	2,086.6
Expenses:
Cost of operations		1.5			1,201.5			53.0			(18.2	)		1,237.8
Depreciation, amortization and depletion		5.8			198.1			4.7			—			208.6
Accretion		—			19.3			0.2			—			19.5
Selling, general and administrative		33.0			163.9			3.2			—			200.1
(Gain) loss on disposition of assets and impairments, net		(2.0	)		21.4			—			—			19.4
Operating (loss) income		(38.3	)		426.5			13.0			—			401.2
Interest expense		(69.3	)		(41.9	)		(0.2	)		—			(111.4	)
Loss on extinguishment of debt		(1.9	)		(197.6	)		—			—			(199.5	)
Interest income		(2.6	)		(1.2	)		3.9			—			0.1
Other (expense) income, net		(4.4	)		5.2			0.1			—			0.9
Equity in earnings of subsidiaries		111.4			2.2			0.7			(114.3	)		—
Intercompany interest income (expense)		5.5			(9.0	)		3.5			—			—
Income before income taxes		0.4			184.2			21.0			(114.3	)		91.3
Provision for income taxes		(46.1	)		83.4			7.8			—			45.1
Net income		46.5			100.8			13.2			(114.3	)		46.2
Net loss attributable to noncontrolling interests		—			—			0.3			—			0.3
Net income attributable to Republic Services, Inc.	$	46.5		$	100.8		$	13.5		$	(114.3	)	$	46.5

	Six Months Ended June 30, 2011
							Non-
	Parent			Guarantors			Guarantors		Eliminations			Consolidated
Revenue	$	—		$	3,946.1		$	138.9	$	(33.5	)	$	4,051.5
Expenses:
Cost of operations		3.8			2,325.6			101.6		(33.5	)		2,397.5
Depreciation, amortization and depletion		11.2			394.2			9.0		—			414.4
Accretion		—			38.8			0.4		—			39.2
Selling, general and administrative		72.6			320.6			10.8		—			404.0
(Gain) loss on disposition of assets and impairments, net		(2.4	)		21.4			—		—			19.0
Operating (loss) income		(85.2	)		845.5			17.1		—			777.4
Interest expense		(125.7	)		(101.6	)		0.2		—			(227.1	)
Loss on extinguishment of debt		(1.9	)		(199.4	)		—		—			(201.3	)
Interest income		(4.4	)		(2.5	)		7.2		—			0.3
Other (expense) income, net		(7.5	)		7.9			1.6		—			2.0
Equity in earnings of subsidiaries		449.6			5.6			1.5		(456.7	)		—
Intercompany interest income (expense)		(194.0	)		188.1			5.9		—			—
Income before income taxes		30.9			743.6			33.5		(456.7	)		351.3
Provision for income taxes		(173.8	)		308.4			12.4		—			147.0
Net income		204.7			435.2			21.1		(456.7	)		204.3
Net income attributable to noncontrolling interests		—			—			0.4		—			0.4
Net income attributable to Republic Services, Inc.	$	204.7		$	435.2		$	21.5	$	(456.7	)	$	204.7

Condensed Consolidating Statements of Income
(in millions)

	Three Months Ended June 30, 2010
							Non-
	Parent			Guarantors			Guarantors			Eliminations			Consolidated
Revenue	$	—		$	2,009.9		$	73.9		$	(17.4	)	$	2,066.4
Expenses:
Cost of operations		2.0			1,176.6			57.1			(17.4	)		1,218.3
Depreciation, amortization and depletion		5.3			204.3			4.2			—			213.8
Accretion		—			4.4			15.8			—			20.2
Selling, general and administrative		44.7			163.4			2.7			—			210.8
(Gain) loss on disposition of assets and impairments, net		(0.1	)		1.2			—			—			1.1
Restructuring charges		—			1.4			—			—			1.4
Operating (loss) income		(51.9	)		458.6			(5.9	)		—			400.8
Interest expense		(55.5	)		(75.1	)		0.1			—			(130.5	)
Interest income		(1.8	)		(2.8	)		4.7			—			0.1
Other (expense) income, net		(0.1	)		0.2			(0.2	)		—			(0.1	)
Equity in earnings of subsidiaries		140.1			4.8			0.7			(145.6	)		—
Intercompany interest income (expense)		143.1			(162.9	)		19.8			—			—
Income before income taxes		173.9			222.8			19.2			(145.6	)		270.3
Provision for income taxes		14.2			89.2			7.0			—			110.4
Net income		159.7			133.6			12.2			(145.6	)		159.9
Net income attributable to noncontrolling interests		—			(0.2	)		—			—			(0.2	)
Net income attributable to Republic Services, Inc.	$	159.7		$	133.4		$	12.2		$	(145.6	)	$	159.7

	Six Months Ended June 30, 2010
							Non-
	Parent			Guarantors			Guarantors			Eliminations			Consolidated
Revenue	$	—		$	3,912.2		$	144.8		$	(32.9	)	$	4,024.1
Expenses:
Cost of operations		3.2			2,279.9			104.9			(32.9	)		2,355.1
Depreciation, amortization and depletion		10.3			399.5			7.0			—			416.8
Accretion		—			8.8			31.6			—			40.4
Selling, general and administrative		97.2			318.0			5.9			—			421.1
Loss on disposition of assets and impairments, net		—			1.6			—			—			1.6
Restructuring charges		—			7.0			—			—			7.0
Operating (loss) income		(110.7	)		897.4			(4.6	)		—			782.1
Interest expense		(97.9	)		(167.8	)		0.7			—			(265.0	)
Loss on extinguishment of debt		(0.1	)		(132.0	)		(0.2	)		—			(132.3	)
Interest income		(2.0	)		(2.7	)		4.8			—			0.1
Other (expense) income, net		1.3			0.4			(0.1	)		—			1.6
Equity in earnings of subsidiaries		191.7			12.7			1.6			(206.0	)		—
Intercompany interest income (expense)		266.4			(306.2	)		39.8			—			—
Income before income taxes		248.7			301.8			42.0			(206.0	)		386.5
Provision for income taxes		24.0			121.4			16.0			—			161.4
Net income		224.7			180.4			26.0			(206.0	)		225.1
Net income attributable to noncontrolling interests		—			(0.4	)		—			—			(0.4	)
Net income attributable to Republic Services, Inc.	$	224.7		$	180.0		$	26.0		$	(206.0	)	$	224.7

Condensed Consolidating Statements of Cash Flows

Condensed Consolidating Statements of Cash Flows
(in millions)

	Six Months Ended June 30, 2011
							Non-
	Parent			Guarantors			Guarantors			Eliminations			Consolidated
Cash (Used in) Provided by Operating Activities:
Net income	$	204.7		$	435.2		$	21.1		$	(456.7	)	$	204.3
Equity in earnings of subsidiaries, net of taxes		(449.6	)		(5.6	)		(1.5	)		456.7			—
Other adjustments		(277.6	)		878.8			(9.9	)		—			591.3
Cash (Used in) Provided by Operating Activities		(522.5	)		1,308.4			9.7			—			795.6
Cash (Used in) Provided by Investing Activities:
Purchases of property and equipment		—			(470.7	)		(11.0	)		—			(481.7	)
Proceeds from sales of property and equipment		—			16.3			—			—			16.3
Cash used in acquisitions, net of cash acquired		—			(28.0	)		—			—			(28.0	)
Cash proceeds from divestitures, net of cash divested		—			10.4			—			—			10.4
Change in restricted cash and marketable securities		10.6			(0.4	)		2.5			—			12.7
Other		—			(1.9	)		—			—			(1.9	)
Change in investment and net advances to affiliate		(817.1	)		—			—			817.1			—
Cash (Used in) Provided by Investing Activities		(806.5	)		(474.3	)		(8.5	)		817.1			(472.2	)
Cash Provided by (Used in) Financing Activities:
Proceeds from notes payable and long-term debt		819.5			—			—			—			819.5
Proceeds from issuance of senior notes, net of discount		1,844.9			—			—			—			1,844.9
Payments of notes payable and long-term debt		(894.5	)		(1,333.0	)		(0.8	)		—			(2,228.3	)
Premiums paid on extinguishment of debt		—			(86.8	)		—			—			(86.8	)
Fees paid to issue and retire senior notes and certain hedging relationships		(57.9	)		(0.7	)		—			—			(58.6	)
Issuances of common stock		31.4			—			—			—			31.4
Excess income tax benefit from stock option exercises		2.1			—			—			—			2.1
Purchases of common stock for treasury		(262.9	)		—			—			—			(262.9	)
Cash dividends paid		(152.5	)		—			—			—			(152.5	)
Change in investment and net advances from parent		—			817.1			—			(817.1	)		—
Cash Provided by (Used in) Financing Activities		1,330.1			(603.4	)		(0.8	)		(817.1	)		(91.2	)
Increase in Cash and Cash Equivalents		1.1			230.7			0.4			—			232.2
Cash and Cash Equivalents at Beginning of Period		14.5			71.1			2.7			—			88.3
Cash and Cash Equivalents at End of Period	$	15.6		$	301.8		$	3.1		$	—		$	320.5

Condensed Consolidating Statements of Cash Flows
(in millions)

	Six Months Ended June 30, 2010
							Non-
	Parent			Guarantors			Guarantors			Eliminations			Consolidated
Cash (Used in) Provided by Operating Activities:
Net income	$	224.7		$	180.4		$	26.0		$	(206.0	)	$	225.1
Equity in earnings of subsidiaries, net of taxes		(191.7	)		(12.7	)		(1.6	)		206.0			—
Other adjustments		(67.3	)		357.0			80.0			—			369.7
Cash (Used in) Provided by Operating Activities		(34.3	)		524.7			104.4			—			594.8
Cash (Used in) Provided by Investing Activities:
Purchases of property and equipment		—			(378.1	)		(7.3	)		—			(385.4	)
Proceeds from sales of property and equipment		—			12.6			—			—			12.6
Cash used in acquisitions, net of cash acquired		—			(0.8	)		—			—			(0.8	)
Change in restricted cash and marketable securities		9.4			8.3			(93.7	)		—			(76.0	)
Other		—			0.1			—			—			0.1
Change in investment and net advances to affiliate		(1,315.4	)		(300.0	)		(4.3	)		1,619.7			—
Cash (Used in) Provided by Investing Activities		(1,306.0	)		(657.9	)		(105.3	)		1,619.7			(449.5	)
Cash Provided by (Used in) Financing Activities:
Proceeds from notes payable and long-term debt		1,020.2			—			—			—			1,020.2
Proceeds from issuance of senior notes, net of discount		1,499.4			—			—			—			1,499.4
Payments of notes payable and long-term debt		(1,139.7	)		(1,054.3	)		(300.8	)		—			(2,494.8	)
Premiums paid on extinguishment of debt		—			(30.4	)		—			—			(30.4	)
Fees paid to issue and retire senior notes and certain hedging relationships		(20.8	)		—			—			—			(20.8	)
Issuances of common stock		34.3			—			—			—			34.3
Excess income tax benefit from stock option exercises		1.8			—			—			—			1.8
Purchases of common stock for treasury		(1.4	)		—			—			—			(1.4	)
Cash dividends paid		(144.9	)		—			—			—			(144.9	)
Distributions paid to noncontrolling interest		—			—			(0.7	)		—			(0.7	)
Change in investment and net advances from parent		—			1,319.7			300.0			(1,619.7	)		—
Cash Provided by (Used in) Financing Activities		1,248.9			235.0			(1.5	)		(1,619.7	)		(137.3	)
(Decrease) Increase in Cash and Cash Equivalents		(91.4	)		101.8			(2.4	)		—			8.0
Cash and Cash Equivalents at Beginning of Period		101.8			(62.6	)		8.8			—			48.0
Cash and Cash Equivalents at End of Period	$	10.4		$	39.2		$	6.4		$	—		$	56.0