Selected Quarterly Financial Data (unaudited)

12 Months Ended

Dec. 31, 2018

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Data (unaudited)

SELECTED QUARTERLY FINANCIAL DATA (unaudited)

The following table summarizes our unaudited consolidated quarterly results of operations as reported for 2018 and 2017:



	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
2018:
Revenue ⁽¹⁾	$	2,427.5	$	2,517.8	$	2,565.7	$	2,530.0
Operating income ⁽¹⁾	404.2		408.2		440.3		483.3
Net income	237.9		235.7		262.9		301.1
Net income attributable to Republic Services, Inc. ⁽¹⁾	237.7		234.9		263.4		301.0
Diluted earnings per common share	0.72		0.71		0.81		0.92
2017:
Revenue ⁽²⁾	$	2,392.8	$	2,526.7	$	2,562.0	$	2,560.0
Operating income	388.1		425.5		448.1		406.8
Net income	187.8		203.4		223.3		664.5
Net income attributable to Republic Services, Inc. ⁽¹⁾	187.8		202.9		223.2		664.4
Diluted earnings per common share ⁽¹⁾	0.55		0.60		0.66		1.98

(1) Line items in these rows do not total to amounts reported in the consolidated statement of income due to rounding.

(2) In accordance with our adoption of the new revenue recognition standard, municipal franchise fees and rebates paid to customers associated with recycled commodities were presented as a reduction to revenue for the year ended December 31, 2018. Similar fees were presented as a cost of operations for the year ended December 31, 2017.

During the fourth quarter of 2018, we recorded a reduction to remediation expense of $40.0 million related to an insurance recovery at our closed Bridgeton Landfill.

On December 22, 2017 the Tax Act was enacted. Accordingly, we re-measured our deferred tax assets and liabilities based on the rates at which they are expected to reverse in the future. The provisional amount recorded in the fourth quarter of 2017 reduced our tax provision by approximately $464 million. For discussion and detail regarding the impact of the Tax Act on our income taxes, refer to Note 10, Income Taxes, included herein.