0001628280-20-001883.txt : 20200220 0001628280-20-001883.hdr.sgml : 20200220 20200220160014 ACCESSION NUMBER: 0001628280-20-001883 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20200220 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20200220 DATE AS OF CHANGE: 20200220 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Advanced Disposal Services, Inc. CENTRAL INDEX KEY: 0001585790 STANDARD INDUSTRIAL CLASSIFICATION: REFUSE SYSTEMS [4953] IRS NUMBER: 900875845 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-37904 FILM NUMBER: 20634954 BUSINESS ADDRESS: STREET 1: 90 FORT WADE ROAD - SUITE 200 CITY: PONTE VEDRA STATE: FL ZIP: 32081 BUSINESS PHONE: 904-737-7900 MAIL ADDRESS: STREET 1: 90 FORT WADE ROAD - SUITE 200 CITY: PONTE VEDRA STATE: FL ZIP: 32081 FORMER COMPANY: FORMER CONFORMED NAME: ADS Waste Holdings, Inc. DATE OF NAME CHANGE: 20130904 8-K 1 ads20191231earnings8-k.htm 8-K Document
false0001585790 0001585790 2020-02-20 2020-02-20


 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
 
 
 
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of The Securities Exchange Act of 1934
Date of Report: February 20, 2020
(Date of earliest event reported)
 
 
Advanced Disposal Services, Inc.
(Exact name of registrant as specified in its charter)
 
 

 
 
 
 
 
Delaware
 
001-37904
 
90-0875845
(State or other jurisdiction
of incorporation)
 
(Commission
File Number)
 
(IRS Employer
Identification No.)
90 Fort Wade Road
Ponte Vedra, Florida 32081
(Address of principal executive offices and zip code)
(904) 737-7900
(Registrant’s telephone number, including area code)
(Former name or former address, if changed since last report.)
 
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
☐
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


Securities registered pursuant to Section 12 (b) of the Act:
Title of each class
 
Trading symbol
 
Name of each exchange on which registered
Common Stock, $0.01 par value
 
ADSW
 
New York Stock Exchange
 

2


Item 2.02
Results of Operations and Financial Condition.
The information under this Item 2.02, including the Exhibit attached hereto, is intended to be furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such filing.
On February 20, 2020, Advanced Disposal Services, Inc. issued a press release regarding its financial results for the year ended December 31, 2019. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated into this Item 2.02 by reference.
 
Item 9.01
Financial Statements and Exhibits.
(d) Exhibits.
The following exhibit is furnished herewith:
 
 
 
 
 
Exhibit
No.
  
Description
 
 
 
 
 
  
 
 
 
 
101
 
Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.
 
 
 
 
104
 
The cover page from this Current Report on Form 8-K, formatted as Inline XBRL.

2


Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
ADVANCED DISPOSAL SERVICES, INC.
 
 
By:
 
/s/ Steven R. Carn
Name:
 
Steven R. Carn
Title:
 
Chief Financial Officer
Dated: February 20, 2020

3
 EX-99.1 2 ads20191231991.htm EXHIBIT 99.1 Exhibit


Exhibit 99.1
FOR IMMEDIATE RELEASE
ADVANCED DISPOSAL ANNOUNCES FOURTH QUARTER RESULTS
Disciplined pricing and continued strong cash flow generation
PONTE VEDRA, Fla. (February 20, 2020) – Advanced Disposal Services, Inc. (NYSE: ADSW), (d/b/a Advanced Disposal) announced today revenue of $400.5 million for the three months ended December 31, 2019 versus $394.8 million in the same period of the prior year. Net loss during fourth quarter 2019 was ($3.2) million or ($0.04) per diluted share, and adjusted net income, which excludes certain gains and expenses, was $7.5 million, or $0.08 per diluted share.
"We executed on a number of important objectives in 2019 including year-over-year improvements across all key safety metrics and continued strong cash flow generation," said Richard Burke, CEO. "While we faced operating headwinds related to recycling and leachate costs, our team delivered on the items directly within their control, and I'm proud of the focus, dedication, and professionalism our team has exhibited throughout the year."

Fourth Quarter and Full Year 2019 Highlights
•
Fourth quarter revenue of $400.5 million represented a 1.4% increase
•
Achieved fourth quarter and full year average yield of 3.3%
•
Fourth quarter organic volume declined 2.2% due to lower disposal tonnage and full year organic volume was flat
•
Year-over-year growth from acquisitions was 1.4% for the fourth quarter and full year
•
Net loss for the fourth quarter was ($3.2) million
•
Achieved adjusted EBITDA of $103.7 million for the fourth quarter, which included a $9.4 million year-over-year headwind related to our recycling business and higher disposal facility costs. Those costs were partially offset by a $4.5 million benefit from CNG fuel tax credits
•
Full year revenue of $1,623.0 million was up 4.2% overall versus the prior year
•
Full year cash provided by operating activities was $280.2 million
•
Achieved full year adjusted free cash flow of $136.8 million

Investor Communications
On April 14, 2019, Advanced Disposal entered into a merger agreement with Waste Management, Inc. ("Waste Management")
whereby a subsidiary of Waste Management will acquire all outstanding shares of Advanced Disposal for $33.15 per share in
cash. In light of the pending transaction, we elected to cease conducting quarterly earnings conference calls until transaction
closing, although we will continue to provide a quarterly earnings release. We also elected to enter into an extended quiet
period related to investor communications and are no longer providing forward-looking guidance until the transaction is closed.

You should read the following information in conjunction with our audited consolidated financial statements and notes thereto
as of and for the year ended December 31, 2019, appearing in our Annual Report on Form 10-K to be filed with the Securities and Exchange Commission.

The calculation of free cash flow and adjusted free cash flow, as well as details of charges and other expenses that are excluded from EBITDA and net (loss) income in arriving at adjusted EBITDA and adjusted net income, are contained in the “Reconciliation of Certain Non-GAAP Measures” section of this press release.


1


SUPPLEMENTAL UNAUDITED FINANCIAL INFORMATION AND OPERATING
DATA
Advanced Disposal Services, Inc.
Condensed Consolidated Statements of Operations
(in millions, except share and per share data)
 
Three Months Ended December 31,
 
Year Ended December 31,
 
2019
 
2018
 
2019
 
2018
Service revenues
$
400.5

 
$
394.8

 
$
1,623.0

 
$
1,558.2

Operating costs and expenses
 
 
 
 
 
 
 
Operating (exclusive of items shown separately below)
261.9

 
251.0

 
1,058.6

 
1,006.1

Selling, general and administrative
48.3

 
46.2

 
207.7

 
181.5

Depreciation and amortization
72.2

 
67.7

 
278.8

 
270.5

Acquisition and development costs
—

 
0.4

 
1.1

 
0.8

Loss (gain) on disposal of assets and asset impairments
(0.3
)
 
0.3

 
1.7

 
(2.5
)
Restructuring charges
—

 
—

 
0.6

 
0.1

Total operating costs and expenses
382.1

 
365.6

 
1,548.5

 
1,456.5

Operating income
18.4

 
29.2

 
74.5

 
101.7

Other (expense) income
 
 
 
 
 
 
 
Interest expense
(23.7
)
 
(24.9
)
 
(100.9
)
 
(95.9
)
Loss on debt extinguishments and modifications
—

 
(0.3
)
 
—

 
(0.9
)
Other income (expense), net
1.7

 
(0.2
)
 
(0.6
)
 
9.1

Total other expense
(22.0
)
 
(25.4
)
 
(101.5
)
 
(87.7
)
Income (loss) before income taxes
(3.6
)
 
3.8

 
(27.0
)
 
14.0

Income tax (benefit) expense
(0.4
)
 
1.3

 
(20.4
)
 
4.6

Net (loss) income
$
(3.2
)
 
$
2.5

 
$
(6.6
)
 
$
9.4

 
 
 
 
 
 
 
 
Net (loss) income attributable to common stockholders per share
 
 
 
 
 
 
 
Basic (loss) income per share
$
(0.04
)
 
$
0.03

 
$
(0.07
)
 
$
0.11

Diluted (loss) income per share
$
(0.04
)
 
$
0.03

 
$
(0.07
)
 
$
0.11

Basic average shares outstanding
89,482,391

 
88,673,714

 
89,022,531

 
88,590,491

Diluted average shares outstanding
89,482,391

 
89,807,857

 
89,022,531

 
89,446,917





2


Advanced Disposal Services, Inc.
Consolidated Balance Sheets
(in millions, except shares)
 
December 31,
 
2019
 
2018
Assets
 
 
 
Current assets
 
 
 
Cash and cash equivalents
$
12.5

 
$
6.8

Accounts receivable, net of allowance for doubtful accounts of $4.5 and $4.6, respectively
208.3

 
211.4

Prepaid expenses and other current assets
44.0

 
44.8

Total current assets
264.8

 
263.0

Other assets
53.3

 
31.7

Property and equipment, net of accumulated depreciation of $1,720.7 and $1,540.7, respectively
1,767.6

 
1,761.4

Goodwill
1,224.8

 
1,215.1

Other intangible assets, net of accumulated amortization of $318.1 and $286.9, respectively
233.0

 
257.1

Total assets
$
3,543.5

 
$
3,528.3

Liabilities and Stockholders’ Equity
 
 
 
Current liabilities
 
 
 
Accounts payable
$
120.7

 
$
107.8

Accrued expenses
124.5

 
117.7

Deferred revenue
71.3

 
72.5

Current maturities of accrued landfill retirement obligations
28.0

 
18.6

Current maturities of long-term debt
76.1

 
85.9

Total current liabilities
420.6

 
402.5

Other long-term liabilities
82.7

 
76.7

Long-term debt, less current maturities
1,792.1

 
1,817.1

Accrued landfill retirement obligations, less current maturities
236.2

 
229.4

Deferred income taxes
88.5

 
91.1

Total liabilities
2,620.1

 
2,616.8

Equity
 
 
 
Common stock: $.01 par value, 1,000,000,000 shares authorized, 89,836,069 and 88,685,920 issued including shares held in treasury, respectively
0.9

 
0.9

Additional paid-in capital
1,527.7

 
1,501.7

Accumulated other comprehensive loss
(3.0
)
 
—

Accumulated deficit
(598.1
)
 
(591.1
)
Treasury stock at cost, 132,930 and 2,274 shares, respectively
(4.1
)
 
—

Total stockholders’ equity
923.4

 
911.5

Total liabilities and stockholders’ equity
$
3,543.5

 
$
3,528.3



3


Advanced Disposal Services, Inc.
Consolidated Statements of Cash Flows
(in millions)
Year Ended December 31,
 
2019
 
2018
Cash flows from operating activities
 
 
 
Net (loss) income
$
(6.6
)
 
$
9.4

Adjustments to reconcile net (loss) income to net cash provided by operating activities
 
 
 
Depreciation and amortization
278.8

 
270.5

Change in fair value of derivative instruments
5.8

 
(2.7
)
Amortization of debt issuance costs and original issue discount
5.7

 
6.1

Loss on debt extinguishments and modifications
—

 
0.9

Accretion on landfill retirement obligations
18.0

 
17.0

Other accretion and amortization
6.7

 
4.0

Provision for doubtful accounts
6.1

 
5.1

Loss (gain) on disposition of property and equipment
1.7

 
(2.5
)
Stock based compensation
10.0

 
11.2

Deferred tax (benefit) expense
(1.4
)
 
4.6

Earnings in equity investee
(2.4
)
 
(1.2
)
Write off of 2012 Veolia acquisition related indemnification receivable
3.9

 
—

Changes in operating assets and liabilities, net of businesses acquired
 
 
 
Increase in accounts receivable
(1.8
)
 
(15.2
)
Increase in prepaid expenses and other current assets
(5.2
)
 
(0.7
)
Decrease (increase) in other assets
2.4

 
(6.5
)
Increase in accounts payable
0.4

 
19.7

Increase in accrued expenses
3.5

 
2.7

(Decrease) increase in deferred revenue
(1.2
)
 
1.8

(Decrease) increase in other long-term liabilities
(25.3
)
 
6.6

Capping, closure and post-closure expenditures
(18.9
)
 
(22.5
)
Net cash provided by operating activities
280.2

 
308.3

Cash flows from investing activities
 
 
 
Purchases of property and equipment and construction and development
(203.8
)
 
(188.6
)
Proceeds from sale of property and equipment and insurance recoveries
4.8

 
8.1

Acquisition of businesses, net of cash acquired
(27.1
)
 
(26.3
)
Net cash used in investing activities
(226.1
)
 
(206.8
)
Cash flows from financing activities
 
 
 
Proceeds from borrowings on debt instruments
201.0

 
136.0

Repayments on debt instruments, including finance/capital leases
(261.3
)
 
(240.6
)
Proceeds from stock option exercises net of stock repurchases
11.9

 
3.1

Net cash used in financing activities
(48.4
)
 
(101.5
)
Net increase in cash and cash equivalents
5.7

 
—

Cash and cash equivalents, beginning of year
6.8

 
6.8

Cash and cash equivalents, end of year
$
12.5

 
$
6.8


4


You should read the following information in conjunction with our audited consolidated financial statements and notes thereto as of and for the year ended December 31, 2019 appearing in our Annual Report on Form 10-K to be filed with the Securities and Exchange Commission.

REVENUE

The following table reflects our revenue by line of business for the periods presented (in millions and as a percentage of revenue):

 
Three Months Ended December 31,
 
Year Ended December 31,
 
2019
 
2018
 
2019
 
2018
Collection
$
269.7

 
67.3
 %
 
$
259.6

 
65.8
 %
 
$
1,073.6

 
66.1
 %
 
$
1,035.8

 
66.5
 %
Disposal
137.2

 
34.3
 %
 
139.9

 
35.4
 %
 
569.2

 
35.1
 %
 
558.8

 
35.9
 %
Sale of recyclables
2.0

 
0.5
 %
 
4.2

 
1.1
 %
 
10.3

 
0.6
 %
 
18.1

 
1.2
 %
Fuel and environmental charges
27.9

 
7.0
 %
 
30.6

 
7.8
 %
 
116.9

 
7.2
 %
 
120.7

 
7.7
 %
Other revenue
39.2

 
9.8
 %
 
37.6

 
9.5
 %
 
160.0

 
9.9
 %
 
132.5

 
8.5
 %
Intercompany eliminations
(75.5
)
 
(18.9
)%
 
(77.1
)
 
(19.6
)%
 
(307.0
)
 
(18.9
)%
 
(307.7
)
 
(19.8
)%
Total service revenues
$
400.5

 
100.0
 %
 
$
394.8

 
100.0
 %
 
$
1,623.0

 
100.0
 %
 
$
1,558.2

 
100.0
 %


The following table reflects changes in revenue, as compared to the prior year:


Three Months Ended December 31,
 
Year Ended December 31,

2019
 
2018
 
2019
 
2018
Average yield
3.3
 %
 
4.0
 %
 
3.3
 %
 
3.4
 %
Recycling
(0.5
)%
 
(0.3
)%
 
(0.4
)%
 
(0.9
)%
Fuel surcharge revenue
(0.6
)%
 
1.0
 %
 
(0.1
)%
 
1.0
 %
Total yield
2.2
 %
 
4.7
 %
 
2.8
 %
 
3.5
 %
Organic volume
(2.2
)%
 
(0.3
)%
 
—
 %
 
0.5
 %
Acquisitions
1.4
 %
 
0.4
 %
 
1.4
 %
 
1.9
 %
Divestitures
—
 %
 
—
 %
 
—
 %
 
(0.3
)%
Impact of revenue recognition standard adoption
—
 %
 
(2.1
)%
 
—
 %
 
(2.2
)%
Total revenue change
1.4
 %
 
2.7
 %
 
4.2
 %
 
3.4
 %

OPERATING EXPENSES

The following table summarizes our operating expenses for the periods presented (in millions and as a percentage of revenue):

 
Three Months Ended December 31,
 
Year Ended December 31,
 
2019
 
2018
 
2019
 
2018
Operating
$
257.1

 
64.2
%
 
$
245.5

 
62.2
%
 
$
1,040.6

 
64.1
%
 
$
989.1

 
63.5
%
Accretion of landfill retirement obligations
4.8

 
1.2
%
 
5.5

 
1.4
%
 
18.0

 
1.1
%
 
17.0

 
1.1
%
Operating expenses
$
261.9

 
65.4
%
 
$
251.0

 
63.6
%
 
$
1,058.6

 
65.2
%
 
$
1,006.1

 
64.6
%



5


The following table summarizes the major components of our operating expenses, excluding accretion expense on landfill retirement obligations for the periods presented (in millions and as a percentage of revenue):

 
Three Months Ended December 31,
 
Year Ended December 31,
 
2019
 
2018
 
2019
 
2018
Labor and related benefits
$
88.9

 
22.2
%
 
$
84.3

 
21.4
%
 
$
351.7

 
21.7
%
 
$
333.5

 
21.4
%
Transfer and disposal costs
57.5

 
14.4
%
 
53.2

 
13.5
%
 
223.4

 
13.8
%
 
208.2

 
13.4
%
Maintenance and repairs
41.0

 
10.2
%
 
37.5

 
9.5
%
 
165.6

 
10.2
%
 
154.0

 
9.9
%
Fuel
15.0

 
3.7
%
 
20.9

 
5.3
%
 
72.8

 
4.5
%
 
81.0

 
5.2
%
Franchise and host fees
10.3

 
2.6
%
 
10.7

 
2.7
%
 
42.6

 
2.6
%
 
41.4

 
2.7
%
Risk management
9.0

 
2.2
%
 
8.6

 
2.2
%
 
36.7

 
2.3
%
 
35.6

 
2.3
%
Other
35.4

 
8.9
%
 
28.5

 
7.1
%
 
138.2

 
8.4
%
 
111.9

 
7.1
%
Subtotal
$
257.1

 
64.2
%
 
$
243.7

 
61.7
%
 
$
1,031.0

 
63.5
%
 
$
965.6

 
62.0
%
Greentree expenses, net of insurance recoveries and landfill remediation expenses
—

 
—
%
 
1.8

 
0.5
%
 
9.6

 
0.6
%
 
23.5

 
1.5
%
Total operating expenses, excluding accretion expense
257.1

 
64.2
%
 
245.5

 
62.2
%
 
1,040.6

 
64.1
%
 
989.1

 
63.5
%



SELLING, GENERAL AND ADMINISTRATIVE

The following table summarizes our selling, general and administrative expenses for the periods presented (in millions and as a percentage of revenue):

 
Three Months Ended December 31,
 
Year Ended December 31,
 
2019
 
2018
 
2019
 
2018
Salaries
$
25.9

 
6.5
%
 
$
27.7

 
7.0
%
 
$
117.5

 
7.2
%
 
$
112.6

 
7.2
%
Legal and professional
7.2

 
1.8
%
 
4.2

 
1.1
%
 
31.9

 
2.0
%
 
14.8

 
0.9
%
Other
15.2

 
3.8
%
 
14.3

 
3.6
%
 
58.3

 
3.6
%
 
54.1

 
3.5
%
Total selling, general and administrative expenses
$
48.3

 
12.1
%
 
$
46.2

 
11.7
%
 
$
207.7

 
12.8
%
 
$
181.5

 
11.6
%



ADDITIONAL STATISTICS

The following table reflects cash interest and cash taxes for the periods presented (in millions):

 
Three Months Ended December 31,
 
Year Ended December 31,
 
2019
 
2018
 
2019
 
2018
Cash paid for interest
$
27.9
 
 
$
29.2
 
 
$
93.7
 
 
$
89.2
 
Cash paid for taxes (net of refunds)
(2.1
)
 
0.7
 
 
$
(3.0
)
 
2.7
 

Internalization for the three months ended December 31, 2019: 62%

Days Sales Outstanding for the three months ended December 31, 2019: 48 (31 net of deferred revenue)

6


RECONCILIATION OF CERTAIN NON-GAAP MEASURES

EBITDA, adjusted EBITDA, adjusted EBITDA margin, free cash flow, adjusted free cash flow, adjusted net income, and adjusted earnings per share are not defined terms under U.S. generally accepted accounting principles (“non-GAAP measures”). Non-GAAP measures should not be considered in isolation or as a substitute for net income, income per diluted share or cash flow data prepared in accordance with GAAP and may not be comparable to calculations of similarly titled measures by other companies.
We define EBITDA as net (loss) income from continuing operations adjusted for interest, taxes, depreciation and amortization and accretion. We define adjusted EBITDA as EBITDA adjusted to exclude non-cash and non-recurring items as well as other adjustments permitted in calculating covenant compliance under the agreements governing our outstanding debt securities and credit facilities. We believe adjusted EBITDA is useful to investors in evaluating our performance compared to other companies in our industry because it eliminates the effect of financing, income taxes and the accounting effects of capital spending, as well as certain items that are not indicative of our performance on an ongoing basis. Management uses adjusted EBITDA to measure the performance of our core operations at the consolidated, segment and business unit levels and as a metric for a significant portion of our management incentive plans.
We define free cash flow as net cash provided by operating activities less capital expenditures (purchases of property and equipment, excluding expenditures for significant new municipal contracts and significant purchases of land for future landfill airspace), net of proceeds from the sale of property and equipment. We define adjusted free cash flow as free cash flow excluding restructuring payments, capital markets costs, and non-recurring items. Management uses adjusted free cash flow to evaluate the Company’s ability to generate cash to fund its activities on an ongoing basis, and we believe adjusted free cash flow is useful to investors in evaluating our performance compared to other companies in our industry because it eliminates the effect of restructuring payments, capital market costs, and other non-recurring items, which are not indicative of our ability to generate cash on an ongoing basis.
We define adjusted net income and adjusted earnings per share as net (loss) income from continuing operations and diluted earnings per share adjusted to exclude non-cash and non-recurring items. We believe adjusted net income and adjusted earnings per share provide an understanding of operational activities before the financial impact of certain items. We believe that these measures are useful in evaluating our operations as these measures are adjusted for items that affect comparability between periods.
In fiscal 2016, we entered into interest rate caps as economic hedges of a rise in interest rates for fiscal 2017, fiscal 2018 and the nine months ended September 30, 2019. We believe that excluding realized and unrealized gains and losses from interest rate derivatives from our adjusted EBITDA provides useful additional information in evaluating ongoing financial performance of the business as these derivatives represent a risk management tool to reduce our exposure to rising interest rates and are viewed by management as a financing cost similar to interest expense. We also purchased additional interest rate caps in fiscal 2017 to hedge the risk of rising interest rates from October 1, 2019 to September 30, 2021. These interest rate caps qualify for hedge accounting and realized gains and losses will flow through interest expense, which is excluded from adjusted EBITDA.



7



ADJUSTED EBITDA

The following table calculates adjusted earnings before interest, taxes, depreciation, amortization and accretion adjusted for certain other costs (in millions except percentages):

Three Months Ended December 31,
 
Year Ended December 31,

2019
 
2018
 
2019
 
2018
Net (loss) income
$
(3.2
)
 
$
2.5

 
$
(6.6
)
 
$
9.4

Income tax (benefit) expense
(0.4
)
 
1.3

 
(20.4
)
 
4.6

Interest expense
23.7

 
24.9

 
100.9

 
95.9

Depreciation and amortization
72.2

 
67.7

 
278.8

 
270.5

Accretion on landfill retirement obligations
4.8

 
5.6

 
18.0

 
17.0

Accretion on loss contracts and other long-term liabilities
0.1

 
0.2

 
0.4

 
0.5

EBITDA
97.2

 
102.2

 
371.1

 
397.9

EBITDA adjustments:

 

 

 

Acquisition and development costs
—

 
0.4

 
1.1

 
0.8

Stock based compensation
1.7

 
2.7

 
10.0

 
11.2

Greentree expenses, net of insurance recoveries and landfill remediation expenses
—

 
1.8

 
9.6

 
23.9

Earnings in equity investee, net
(0.8
)
 
0.3

 
(1.6
)
 
—

Restructuring charges
—

 
—

 
0.6

 
0.1

(Gain) loss on disposal of assets and asset impairments
(0.3
)
 
0.3

 
1.7

 
(2.5
)
Unrealized loss (gain) on derivatives
—

 
2.1

 
5.8

 
(2.7
)
Realized gain on derivatives
—

 
(1.4
)
 
(5.0
)
 
(3.6
)
Capital market costs and loss on debt extinguishments and modifications
—

 
0.3

 
—

 
1.2

Fee case settlement and related expenses
—

 
—

 
9.9

 
—

Merger related expenses
4.0

 
—

 
9.6

 
—

Merger retention bonus
1.9

 
—

 
8.5

 
—

Write-off of acquisition related identification receivable
—

 
—

 
3.9

 
—

Withdrawal costs from a multi-employer pension fund
—

 
—

 
—

 
0.8

Adjusted EBITDA
$
103.7

 
$
108.7

 
$
425.2

 
$
427.1

 
 
 
 
 
 
 
 
Revenue
$
400.5

 
$
394.8

 
$
1,623.0

 
$
1,558.2

Adjusted EBITDA margin
25.9
%
 
27.5
%
 
26.2
%
 
27.4
%




8


ADJUSTED FREE CASH FLOW

The following table calculates free cash flow and adjusted free cash flow (in millions):
 
Three Months Ended December 31,
 
Year Ended December 31,
 
2019
 
2018
 
2019
 
2018
Net cash provided by operating activities
$
51.0

 
$
73.9

 
$
280.2

 
$
308.3

Purchases of property and equipment and landfill construction and development (a)
(36.9
)
 
(55.3
)
 
(177.5
)
 
(188.6
)
Proceeds from sale of property and equipment and insurance recoveries
1.1

 
0.8

 
4.8

 
8.1

Free cash flow
15.2

 
19.4

 
107.5

 
127.8

Assumption of long-term care and closure reserves
1.0

 
2.1

 
6.0

 
5.1

Restructuring payments
—

 
0.1

 
0.9

 
0.6

Greentree costs, net of insurance recoveries
—

 
0.9

 
0.8

 
4.3

Landfill remediation expenses
1.4

 
4.8

 
8.7

 
11.0

Fee case settlement and related expenses
4.2

 
—

 
9.9

 
—

Merger related expenses
4.0

 
—

 
8.0

 
—

Capital market costs
—

 
—

 
—

 
0.4

Adjusted free cash flow
$
25.8

 
$
27.3

 
$
141.8

 
$
149.2

Realized gain on derivatives
—

 
(1.4
)
 
(5.0
)
 
(3.6
)
Adjusted free cash flow excluding realized (gain) loss on derivatives
$
25.8

 
$
25.9

 
$
136.8

 
$
145.6


(a) Excludes $9.3 million and $26.3 million of growth capital spending during fourth quarter and full year 2019, respectively, associated with two Florida-based municipal contracts recently won by the Company.





9



ADJUSTED NET INCOME

The following table calculates adjusted net income (in millions except share and per share data):

Three Months Ended December 31,
 
Year Ended December 31,

2019
 
2018
 
2019
 
2018
Net (loss) income
$
(3.2
)
 
$
2.5

 
$
(6.6
)
 
$
9.4

Amortization of intangibles
7.8

 
8.8

 
31.2

 
39.3

Acquisition and development costs
—

 
0.4

 
1.1

 
0.8

Greentree expenses, net of insurance recoveries and landfill remediation expenses
—

 
1.8

 
9.6

 
23.9

Restructuring charges
—

 
—

 
0.6

 
0.1

(Gain) loss on disposal of assets and asset impairments
(0.3
)
 
0.3

 
1.7

 
(2.5
)
Unrealized loss (gain) on derivatives
—

 
2.1

 
5.8

 
(2.7
)
Realized gain on derivatives
—

 
(1.4
)
 
(5.0
)
 
(3.6
)
Capital market costs and loss on debt extinguishments and modifications
—

 
0.3

 
—

 
1.2

Fee case settlement and related expenses
—

 
—

 
9.9

 
—

Merger related expenses
4.0

 
—

 
9.6

 
—

Merger retention bonus
1.9

 
—

 
8.5

 
—

Write-off of acquisition related identification receivable
—

 
—

 
3.9

 
—

Net benefit from 2012 Veolia acquisition related tax audit settlement
—

 
—

 
(17.6
)
 
—

Withdrawal costs from a multi-employer pension fund
—

 
—

 
—

 
0.8

Tax effect
(2.7
)
 
(3.4
)
 
(17.5
)
 
(15.2
)
Adjusted net income
$
7.5

 
$
11.4

 
$
35.2

 
$
51.5

 
 
 
 
 
 
 
 
Diluted earnings per common share:
 
 
 
 
 
 
 
  Adjusted average shares outstanding
91,042,089

 
89,807,857

 
90,654,831

 
89,446,917

  Adjusted earnings per common share
$
0.08

 
$
0.13

 
$
0.39

 
$
0.58




10


SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of the U.S. federal securities laws. All statements other than statements of historical facts in this document, including, without limitation, those regarding our business strategy, financial position, results of operations, plans, prospects and objectives of management for future operations (including development plans and objectives relating to our activities), are forward-looking statements. Many, but not all, of these statements can be found by looking for words like “expect,” “anticipate,” “goal,” “project,” “plan,” “believe,” “seek,” “will,” “may,” “forecast,” “estimate,” “intend,” “future” and similar words. Statements that address activities, events or developments that we intend, expect or believe may occur in the future are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934, as amended and are subject to safe harbor created by those sections. Forward-looking statements do not guarantee future performance and may involve risks, uncertainties and other factors which could cause our actual results, performance or achievements to differ materially from the future results, performance or achievements expressed or implied in those forward-looking statements.

There are a number of risks, uncertainties and other important factors, many of which are beyond our control, which could cause actual results to differ materially from the forward-looking statements contained in this release. Such risks, uncertainties and factors include those set forth under the heading Risk Factors in our most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission.

Examples of these risks, uncertainties and other factors include, but are not limited to:

•
our ability to achieve future profitability will depend on us executing our strategy and controlling costs;

•
future results may be impacted by the expiration of net operating losses (NOLs);

•
our tax position may be affected by recent changes in U.S. tax law;       

•
Operating in a highly competitive industry and the inability to compete effectively with larger and better capitalized companies and governmental service providers;

•
our results are vulnerable to economic conditions;

•
we may lose contracts through competitive bidding, early termination or governmental action;

•
some of our customers, including governmental entities, have suffered financial difficulties affecting their credit risk, which could negatively impact our operating results;

•
our financial and operating performance may be affected by the inability, in some instances, to renew or expand existing landfill permits or acquire new landfills. Further, the cost of operation and/or future construction of our existing landfills may become economically unfeasible causing us to abandon or cease operations;

•
we could be precluded from maintaining permits or entering into certain contracts if we are unable to obtain sufficient third-party financial assurance or adequate insurance coverage;

•
our accruals for our landfill site closure, post-closure and contamination related costs may be inadequate;

•
our cash flow may not be sufficient to finance our high level of capital expenditures;

•
our acquisitions, including our ability to integrate acquired businesses, or that acquired businesses may have unexpected risks or liabilities;

•
the seasonal nature of our business and "event-driven" waste projects that could cause our results to fluctuate;

•
adverse and destructive weather conditions that could result in higher fuel costs, higher labor costs, reduced municipal contract productivity and higher disposal costs;

•
we may be subject in the normal course of business to judicial, administrative or other third-party proceedings that could interrupt or limit our operations, result in adverse judgments, settlements or fines and create negative publicity;


11


•
fuel supply and prices may fluctuate significantly and we may not be able to pass on cost increases to our customers;

•
fluctuations in the prices of commodities may adversely affect our financial condition, results of operations and cash flows;

•
increases in labor and disposal costs and related transportation costs could adversely impact our financial results;

•
efforts by labor unions could divert management attention and adversely affect operating results;

•
we depend significantly on the services of the members of our senior, regional and local management teams, and the departure of any of those persons could cause our operating results to suffer;

•
we are increasingly dependent on technology in our operations and, if our technology fails, our business could be adversely affected;

•
a cybersecurity incident could negatively impact our business and our relationships with customers;

•
operational and safety risks, including the risk of personal injury to employees and others;

•
we are subject to substantial governmental regulation and failure to comply with these requirements, as well as enforcement actions and litigation arising from an actual or perceived breach of such requirements, could subject us to fines, penalties and judgments, and impose limits on our ability to operate and expand;

•
our operations being subject to environmental, health and safety laws and regulations, as well as contractual obligations that may result in significant liabilities;

•
future changes in laws or renewed enforcement of laws regulating the flow of solid waste in interstate commerce could adversely affect our operating results;

•
fundamental change in the waste management industry as traditional waste streams are increasingly viewed as renewable resources and changes in laws and environmental policies may limit the items that enter the waste stream, any of which may adversely impact volumes and tipping fees at our landfills. Alternatives to landfill disposal may cause our revenues and operating results to decline;

•
risks associated with our substantial indebtedness and working capital deficit;

•
risks associated with our ability to implement our growth strategy as and when planned; and

•
the other risks described in the "Risk Factors" section of our 2019 Annual Report on Form 10-K.


In addition, actual results may vary materially from those expressed or implied by forward-looking statements based on a
number of factors related to the pending acquisition of Advanced Disposal, including, without limitation (1) risks related to the
consummation of the merger, including the risks that (a) the merger may not be consummated within the anticipated time
period, or at all, (b) the parties may fail to secure the termination or expiration of any waiting period applicable under the Hart-
Scott-Rodino Antitrust Improvements Act of 1976, as amended, and (c) other conditions to the consummation of the merger
under the merger agreement may not be satisfied; (2) the effects that any termination of the merger agreement may have on
Advanced Disposal or its business, including the risks that (a) Advanced Disposal’s stock price may decline significantly if the
merger is not completed, (b) the merger agreement may be terminated in circumstances requiring Advanced Disposal to pay
Waste Management a termination fee, or (c) the circumstances of the termination, including the possible imposition of a 12-
month tail period during which the termination fee could be payable upon certain subsequent transactions, may have a chilling
effect on alternatives to the merger; (3) the effects that the announcement or pendency of the merger may have on Advanced
Disposal and its business, including the risks that as a result (a) Advanced Disposal’s business, operating results or stock price
may suffer, (b) Advanced Disposal’s current plans and operations may be disrupted, (c) Advanced Disposal’s ability to retain or
recruit key employees may be adversely affected, (d) Advanced Disposal’s business relationships (including, customers and
suppliers) may be adversely affected, or (e) Advanced Disposal’s management’s or employees’ attention may be diverted from
other important matters; (4) the effect of limitations that the merger agreement places on Advanced Disposal’s ability to operate
its business, return capital to stockholders or engage in alternative transactions; (5) the nature, cost and outcome of pending and

12


future litigation and other legal proceedings, including any such proceedings related to the merger and instituted against Advanced Disposal and others; (6) the risk that the merger and related transactions may involve unexpected costs, liabilities or
delays; and (7) other economic, business, competitive, legal, regulatory, and/or tax factors.
The above examples are not exhaustive and new risks may emerge from time to time. Except as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Such forward-looking statements are based on our current beliefs, assumptions, expectations, estimates and projections regarding our present and future business strategies and the environment in which we will operate in the future. These forward-looking statements speak only as of the date of this press release. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in our expectations with regard thereto or any change of events, conditions or circumstances on which any such statement was based.

About Advanced Disposal
Advanced Disposal (NYSE: ADSW) brings fresh ideas and solutions to the business of a clean environment. We provide integrated, non-hazardous solid waste collection, recycling and disposal services to residential, commercial, industrial and construction customers across 16 states and the Bahamas. Our team is dedicated to finding effective, sustainable solutions to preserve the environment for future generations. We welcome you to learn more at AdvancedDisposal.com or follow us on Facebook.

Contact:
Matthew Nelson
Advanced Disposal
(904) 737-7900, Matthew.Nelson@AdvancedDisposal.com

13
 EX-101.SCH 3 adsw-20200220.xsd XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 0001000 - Document - Cover Page link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 4 adsw-20200220_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE DOCUMENT EX-101.DEF 5 adsw-20200220_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT EX-101.LAB 6 adsw-20200220_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT Cover page. Document Type Document Type Document Period End Date Document Period End Date Entity Registrant Name Entity Registrant Name Entity Incorporation, State or Country Code Entity Incorporation, State or Country Code Entity File Number Entity File Number Entity Tax Identification Number Entity Tax Identification Number Entity Address, Address Line One Entity Address, Address Line One Entity Address, City or Town Entity Address, City or Town Entity Address, State or Province Entity Address, State or Province Entity Address, Postal Zip Code Entity Address, Postal Zip Code City Area Code City Area Code Local Phone Number Local Phone Number Written Communications Written Communications Soliciting Material Soliciting Material Pre-commencement Tender Offer Pre-commencement Tender Offer Pre-commencement Issuer Tender Offer Pre-commencement Issuer Tender Offer Entity Emerging Growth Company Entity Emerging Growth Company Title of 12(b) Security Title of 12(b) Security Trading Symbol Trading Symbol Security Exchange Name Security Exchange Name Entity Central Index Key Entity Central Index Key Amendment Flag Amendment Flag EX-101.PRE 7 adsw-20200220_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT JSON 8 MetaLinks.json IDEA: XBRL DOCUMENT { "instance": { "ads20191231earnings8-k.htm": { "axisCustom": 0, "axisStandard": 0, "contextCount": 1, "dts": { "calculationLink": { "local": [ "adsw-20200220_cal.xml" ] }, "definitionLink": { "local": [ "adsw-20200220_def.xml" ], "remote": [ "http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-eedm-def-2019-01-31.xml", "http://xbrl.fasb.org/srt/2019/elts/srt-eedm1-def-2019-01-31.xml" ] }, "inline": { "local": [ "ads20191231earnings8-k.htm" ] }, "labelLink": { "local": [ "adsw-20200220_lab.xml" ], "remote": [ "https://xbrl.sec.gov/dei/2019/dei-doc-2019-01-31.xml" ] }, "presentationLink": { "local": [ "adsw-20200220_pre.xml" ] }, "referenceLink": { "remote": [ "https://xbrl.sec.gov/dei/2019/dei-ref-2019-01-31.xml" ] }, "schema": { "local": [ "adsw-20200220.xsd" ], "remote": [ "http://xbrl.fasb.org/srt/2019/elts/srt-types-2019-01-31.xsd", "http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd", "http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd", "http://www.xbrl.org/2003/xl-2003-12-31.xsd", "http://www.xbrl.org/2003/xlink-2003-12-31.xsd", "http://www.xbrl.org/dtr/type/numeric-2009-12-16.xsd", "http://www.xbrl.org/dtr/type/nonNumeric-2009-12-16.xsd", "http://www.xbrl.org/2006/ref-2006-02-27.xsd", "http://xbrl.fasb.org/srt/2019/elts/srt-2019-01-31.xsd", "http://www.xbrl.org/2005/xbrldt-2005.xsd", "http://xbrl.fasb.org/us-gaap/2019/elts/us-gaap-2019-01-31.xsd", "http://xbrl.fasb.org/us-gaap/2019/elts/us-roles-2019-01-31.xsd", "http://xbrl.fasb.org/srt/2019/elts/srt-roles-2019-01-31.xsd", "https://xbrl.sec.gov/country/2017/country-2017-01-31.xsd", "http://xbrl.fasb.org/us-gaap/2019/elts/us-types-2019-01-31.xsd", "http://www.xbrl.org/lrr/arcrole/factExplanatory-2009-12-16.xsd", "http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd", "http://www.xbrl.org/lrr/role/net-2009-12-16.xsd", "https://xbrl.sec.gov/currency/2019/currency-2019-01-31.xsd", "https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd", "https://xbrl.sec.gov/exch/2019/exch-2019-01-31.xsd", "http://xbrl.sec.gov/invest/2013/invest-2013-01-31.xsd", "http://xbrl.sec.gov/naics/2017/naics-2017-01-31.xsd", "http://xbrl.sec.gov/sic/2011/sic-2011-01-31.xsd", "https://xbrl.sec.gov/stpr/2018/stpr-2018-01-31.xsd", "http://www.xbrl.org/lrr/role/deprecated-2009-12-16.xsd" ] } }, "elementCount": 23, "entityCount": 1, "hidden": { "http://xbrl.sec.gov/dei/2019-01-31": 2, "total": 2 }, "keyCustom": 0, "keyStandard": 95, "memberCustom": 0, "memberStandard": 0, "nsprefix": "adsw", "nsuri": "http://www.advanceddisposal.com/20200220", "report": { "R1": { "firstAnchor": { "ancestors": [ "span", "div", "div", "body", "html" ], "baseRef": "ads20191231earnings8-k.htm", "contextRef": "D2019Q1Feb20", "decimals": null, "first": true, "lang": "en-US", "name": "dei:DocumentType", "reportCount": 1, "unique": true, "unitRef": null, "xsiNil": "false" }, "groupType": "document", "isDefault": "true", "longName": "0001000 - Document - Cover Page", "role": "http://www.advanceddisposal.com/role/CoverPage", "shortName": "Cover Page", "subGroupType": "", "uniqueAnchor": { "ancestors": [ "span", "div", "div", "body", "html" ], "baseRef": "ads20191231earnings8-k.htm", "contextRef": "D2019Q1Feb20", "decimals": null, "first": true, "lang": "en-US", "name": "dei:DocumentType", "reportCount": 1, "unique": true, "unitRef": null, "xsiNil": "false" } } }, "segmentCount": 0, "tag": { "dei_AmendmentFlag": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.", "label": "Amendment Flag", "terseLabel": "Amendment Flag" } } }, "localname": "AmendmentFlag", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.advanceddisposal.com/role/CoverPage" ], "xbrltype": "booleanItemType" }, "dei_CityAreaCode": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Area code of city", "label": "City Area Code", "terseLabel": "City Area Code" } } }, "localname": "CityAreaCode", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.advanceddisposal.com/role/CoverPage" ], "xbrltype": "normalizedStringItemType" }, "dei_CoverAbstract": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Cover page.", "label": "Cover page." } } }, "localname": "CoverAbstract", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "xbrltype": "stringItemType" }, "dei_DocumentPeriodEndDate": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.", "label": "Document Period End Date", "terseLabel": "Document Period End Date" } } }, "localname": "DocumentPeriodEndDate", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.advanceddisposal.com/role/CoverPage" ], "xbrltype": "dateItemType" }, "dei_DocumentType": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.", "label": "Document Type", "terseLabel": "Document Type" } } }, "localname": "DocumentType", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.advanceddisposal.com/role/CoverPage" ], "xbrltype": "submissionTypeItemType" }, "dei_EntityAddressAddressLine1": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Address Line 1 such as Attn, Building Name, Street Name", "label": "Entity Address, Address Line One", "terseLabel": "Entity Address, Address Line One" } } }, "localname": "EntityAddressAddressLine1", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.advanceddisposal.com/role/CoverPage" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressCityOrTown": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Name of the City or Town", "label": "Entity Address, City or Town", "terseLabel": "Entity Address, City or Town" } } }, "localname": "EntityAddressCityOrTown", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.advanceddisposal.com/role/CoverPage" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressPostalZipCode": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Code for the postal or zip code", "label": "Entity Address, Postal Zip Code", "terseLabel": "Entity Address, Postal Zip Code" } } }, "localname": "EntityAddressPostalZipCode", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.advanceddisposal.com/role/CoverPage" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressStateOrProvince": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Name of the state or province.", "label": "Entity Address, State or Province", "terseLabel": "Entity Address, State or Province" } } }, "localname": "EntityAddressStateOrProvince", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.advanceddisposal.com/role/CoverPage" ], "xbrltype": "stateOrProvinceItemType" }, "dei_EntityCentralIndexKey": { "auth_ref": [ "r5" ], "lang": { "en-US": { "role": { "documentation": "A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.", "label": "Entity Central Index Key", "terseLabel": "Entity Central Index Key" } } }, "localname": "EntityCentralIndexKey", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.advanceddisposal.com/role/CoverPage" ], "xbrltype": "centralIndexKeyItemType" }, "dei_EntityEmergingGrowthCompany": { "auth_ref": [ "r5" ], "lang": { "en-US": { "role": { "documentation": "Indicate if registrant meets the emerging growth company criteria.", "label": "Entity Emerging Growth Company", "terseLabel": "Entity Emerging Growth Company" } } }, "localname": "EntityEmergingGrowthCompany", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.advanceddisposal.com/role/CoverPage" ], "xbrltype": "booleanItemType" }, "dei_EntityFileNumber": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.", "label": "Entity File Number", "terseLabel": "Entity File Number" } } }, "localname": "EntityFileNumber", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.advanceddisposal.com/role/CoverPage" ], "xbrltype": "fileNumberItemType" }, "dei_EntityIncorporationStateCountryCode": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Two-character EDGAR code representing the state or country of incorporation.", "label": "Entity Incorporation, State or Country Code", "terseLabel": "Entity Incorporation, State or Country Code" } } }, "localname": "EntityIncorporationStateCountryCode", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.advanceddisposal.com/role/CoverPage" ], "xbrltype": "edgarStateCountryItemType" }, "dei_EntityRegistrantName": { "auth_ref": [ "r5" ], "lang": { "en-US": { "role": { "documentation": "The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.", "label": "Entity Registrant Name", "terseLabel": "Entity Registrant Name" } } }, "localname": "EntityRegistrantName", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.advanceddisposal.com/role/CoverPage" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityTaxIdentificationNumber": { "auth_ref": [ "r5" ], "lang": { "en-US": { "role": { "documentation": "The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.", "label": "Entity Tax Identification Number", "terseLabel": "Entity Tax Identification Number" } } }, "localname": "EntityTaxIdentificationNumber", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.advanceddisposal.com/role/CoverPage" ], "xbrltype": "employerIdItemType" }, "dei_LocalPhoneNumber": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Local phone number for entity.", "label": "Local Phone Number", "terseLabel": "Local Phone Number" } } }, "localname": "LocalPhoneNumber", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.advanceddisposal.com/role/CoverPage" ], "xbrltype": "normalizedStringItemType" }, "dei_PreCommencementIssuerTenderOffer": { "auth_ref": [ "r2" ], "lang": { "en-US": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.", "label": "Pre-commencement Issuer Tender Offer", "terseLabel": "Pre-commencement Issuer Tender Offer" } } }, "localname": "PreCommencementIssuerTenderOffer", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.advanceddisposal.com/role/CoverPage" ], "xbrltype": "booleanItemType" }, "dei_PreCommencementTenderOffer": { "auth_ref": [ "r3" ], "lang": { "en-US": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.", "label": "Pre-commencement Tender Offer", "terseLabel": "Pre-commencement Tender Offer" } } }, "localname": "PreCommencementTenderOffer", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.advanceddisposal.com/role/CoverPage" ], "xbrltype": "booleanItemType" }, "dei_Security12bTitle": { "auth_ref": [ "r0" ], "lang": { "en-US": { "role": { "documentation": "Title of a 12(b) registered security.", "label": "Title of 12(b) Security", "terseLabel": "Title of 12(b) Security" } } }, "localname": "Security12bTitle", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.advanceddisposal.com/role/CoverPage" ], "xbrltype": "securityTitleItemType" }, "dei_SecurityExchangeName": { "auth_ref": [ "r1" ], "lang": { "en-US": { "role": { "documentation": "Name of the Exchange on which a security is registered.", "label": "Security Exchange Name", "terseLabel": "Security Exchange Name" } } }, "localname": "SecurityExchangeName", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.advanceddisposal.com/role/CoverPage" ], "xbrltype": "edgarExchangeCodeItemType" }, "dei_SolicitingMaterial": { "auth_ref": [ "r4" ], "lang": { "en-US": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.", "label": "Soliciting Material", "terseLabel": "Soliciting Material" } } }, "localname": "SolicitingMaterial", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.advanceddisposal.com/role/CoverPage" ], "xbrltype": "booleanItemType" }, "dei_TradingSymbol": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Trading symbol of an instrument as listed on an exchange.", "label": "Trading Symbol", "terseLabel": "Trading Symbol" } } }, "localname": "TradingSymbol", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.advanceddisposal.com/role/CoverPage" ], "xbrltype": "tradingSymbolItemType" }, "dei_WrittenCommunications": { "auth_ref": [ "r6" ], "lang": { "en-US": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.", "label": "Written Communications", "terseLabel": "Written Communications" } } }, "localname": "WrittenCommunications", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.advanceddisposal.com/role/CoverPage" ], "xbrltype": "booleanItemType" } }, "unitCount": 0 } }, "std_ref": { "r0": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "12", "Subsection": "b" }, "r1": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "12", "Subsection": "d1-1" }, "r2": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "13e", "Subsection": "4c" }, "r3": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "14d", "Subsection": "2b" }, "r4": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "14a", "Subsection": "12" }, "r5": { "Name": "Regulation 12B", "Number": "240", "Publisher": "SEC", "Section": "12", "Subsection": "b-2" }, "r6": { "Name": "Securities Act", "Number": "230", "Publisher": "SEC", "Section": "425" } }, "version": "2.1" } EXCEL 9 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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end XML 10 ads20191231earnings8-k_htm.xml IDEA: XBRL DOCUMENT 0001585790 2020-02-20 2020-02-20 false 0001585790 8-K 2020-02-20 Advanced Disposal Services, Inc. DE 001-37904 90-0875845 90 Fort Wade Road Ponte Vedra FL 32081 (904) 737-7900 false false false false false Common Stock, $0.01 par value ADSW NYSE XML 11 R1.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Cover Page
Feb. 20, 2020
Cover page.  
Document Type 8-K
Document Period End Date Feb. 20, 2020
Entity Registrant Name Advanced Disposal Services, Inc.
Entity Incorporation, State or Country Code DE
Entity File Number 001-37904
Entity Tax Identification Number 90-0875845
Entity Address, Address Line One 90 Fort Wade Road
Entity Address, City or Town Ponte Vedra
Entity Address, State or Province FL
Entity Address, Postal Zip Code 32081
City Area Code (904)
Local Phone Number 737-7900
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Title of 12(b) Security Common Stock, $0.01 par value
Trading Symbol ADSW
Security Exchange Name NYSE
Entity Central Index Key 0001585790
Amendment Flag false
XML 12 FilingSummary.xml IDEA: XBRL DOCUMENT 3.19.3.a.u2 html 1 95 1 false 0 0 false 0 false false R1.htm 0001000 - Document - Cover Page Sheet http://www.advanceddisposal.com/role/CoverPage Cover Page Cover 1 false false All Reports Book All Reports ads20191231earnings8-k.htm ads20191231991.htm adsw-20200220.xsd adsw-20200220_cal.xml adsw-20200220_def.xml adsw-20200220_lab.xml adsw-20200220_pre.xml http://xbrl.sec.gov/dei/2019-01-31 true true ZIP 13 0001628280-20-001883-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001628280-20-001883-xbrl.zip M4$L#!!0 ( : 5% T!4Z5WF( -E6"0 2 861S,C Q.3$R,S$Y.3$N M:'1M[;UI=]M(DC;Z^9U?D:^JJJ]\#B437$1*[O:YM"77>,:6:R35U*V/22 I M9AD$6%@DJW_]C4@ 7"112Q(D,X'HTR63((#K/W\[8^-D MXK/??O_PY?-'MG?P]NT?[8]OWYY>G;+_O/KZA74.FPZ[BG@0RT2& ???OCT[ MWV-[XR29GKQ]>WM[>WC;/@RCZ[=7%V_Q59VW?AC&XM!+O+WW__%/O/3^/_[/ M/\>">_#O__GG_STX8*>AFTY$D# W$CP1'DMC&5RS/SP1?V<..SB8W?DQG-Y% M\GJ<.+.Q*9^.+]V8^Q',KDGV^SK]#8V[RU?PY#[^[]/SUY MP^+DSA?_VAN%07(PXA/IWYU_SIM-GM.H/!H-T[/?YTW!L.6QCLI@+"*9//+$,(+F\'+1ZD+;ZK=G M>S'EG@=S?Y"$TQ.G/?WQ+A$_D@/NR^O@1$W\^OU47V^S-H>A[\$K\B5CQ\>' MSO( 7M77\KNF1N\)-XPXPOTD#3P184?@Y9^^7;#/7[^>G7X>7)VQB[,O9X/+ MLS5ZOS#3+A"#B#8RU8/3_QV?+W_[=CGXP@;GY]]^ATN7[-.WWR^N M_I/]S^^#BZNS"QC2Y>]?KBZ-']*IC%TYQ=YX;!I)%WD'#SSFPJTR2.%JG$0A M7'1Y/&8C/[QEUR(0V9*6,SI?C#9#&;]].P=P_>_9Z<6@P3[Y_)#M?Q+#*.71 M';# AF*#;]@_?NJW'.==,997,XY__-1NO1MX-SQP8;9@/J=AS'UV*:(;Z8JX MP3X'+K1\_N?EV0D;G%[^\:;!]KVWP[>/.X?]&B$IC,(T2L;L;\ ,4& VJEL>L_V?VX>M-T7/&#R__W/SL-EY@^]FGO13 M%,7QF$>BH>B)>W^E,5X+H 49N.$$?K@=2W?,Q _73T%<,U=$"8=^7L.?6#TE M?DQ%$".(L%']>>R5L/P-'"4.LO]PC(?,)%:P]W[O#P%S)US50U@?4#M2!4U8 M\7 0 H(/\!,^%<$WU+1@:=P( M,<)]GWT7=X"ID4CNV$0DP$#CE[//QAX\*CUV 2C@D<<^I-%W0,7'LV^'C.W] M,9:^8+>"C3BR@W"JGH)7H4)V*P,O!N;@*Y4O">&C>^?Z!??V!8=7)@+Z$2> M'D Q2P2?,$_X,-XHFQ4$OTS$!- NX?G$OV.W,AEGE"(C-8@H]#, ?_Y_)D I M83HCFQ$HGO!JH'SI9L-1]\$](Q''2K^5\63>]!@0+#)=!;L\AG==C\,T42]3 MU+?W?V4 MK^1"@JH/XGO,C'E\7+8TCX$%#C M"M_/Z>Q?>\T]]3V> MJEN7;@?4)0 4/Z=TH/Z]5\UXP3:019RT.EFK&J*@WVH=O;NGZ&=]7]W3=Z_K MJD['/BT+&M/$?B2FD8A1#051IM\EY[#SR[IB'.W<6#RR@@IT;Q4!$!W82@<# M=RP!^]Y]S0M9X A9H)+&'/K&KT%L2.%[:Q%)^["])B()B=5$XCV.'$;7/) N MNPG]%$P($-R9T=PZ;/T"UH) )0S4.Z49YR9@$@8!HG09N_=>A(K]"-0X@E$U M8?3GLAUQ'86W@*I1%$[ C/@[E9DO.%[/P%M?KA9V_5-LER!:38C.G!XK0/#0 MX4%(J"829MK7S%UU]N'SU>E@/3O$:;8/>^6Z'Y<16GC2,N^-,E%^/C[LS-QS M]WPYA0-ET7^";HJY#V6(FV@BSGPY8YCB1;$^ @3[,KG+G"N'C%V-PSAWM3!0 M 2;0J\D]_T[F+=1#-0UO,,N=>;6&!N*0(QDD@F"C^>_ I<5H#'P'[B/Y\G[ M9CV16%5([--,$2S%QG<:1ZWV8;,],!77B]'B"1HELUWSE8=L\S MHHFJTX1RDZ.G72(;![8Y=WMS=-6#LBS6U)5_;O6;ARW29*H-J;D?:>XT*G2: M$6Y=SC=DUN._[:.R=BB?@Z)1^R&;W[]_:G_D.SB.\6H00[-W_8>_-3D=\"]>%4FWC=!A+3V)@!5#3_6["J( &E;<#E&,4 M[V&:Q GHULC7U09RC,\]G"Y4]W]NMP^=KMIS5K?"W.UTU,@X#F%%F-I^FP41 MB&PT"8;WH:C"_=!;P80OW-S$<''? C=5O=15$BVW7L!, /84P)48?QW!I,(L M (,"& M#MD?"(4X7)PA11TY;00,NI\%E@!N1++3<>:28 #S+?P#GC15C=E,_0QPLSSUM M16 KH=&4/'#EK8Q&PV:0C7.UKY7'RRD%O_GN O2P -U>LV%_S(/5SL/@X-?! MX#?V%=AZ"I)&\8[%PBWN3,? R#""8LW_S8'0OROO%G2HK.'?O_;WP[>SO M."K>,05UZF (+/#[ 1]!DR?Z'U3J_WH3WXT.V?MIUN]].G_M%I MO_^IXW3[@W[_M-FQ,;1^.\'0E[__]MN7LZ]GYU>#+^SW\\'OIY^OSD[9I\_G M@_./G^':Y_-/WRZ^#JX^?SMG@_-3]NVWLPOX=OZK%IPW&=8]N!IHAF0>;2^< M_IF@:=,F]2.H[LB6/9"'"XK$Y5Q] %[W;9I'=[[">P_R40W3[PYMPM =,) MXD-,D]R 4F&:,W,*!L%?84>^H*\+CR]YF9H%LB3.8_9]\?T!*G+^<@O-S#%5 MFAON7F\SIYO3A($-P\@3T8$+FB6?QN*D^/! ,T]=W +-!_\:\\Y*EQVCWCJ M]Y<%O][R;\X3/SWU6^D_U;VQY_VLPS!)PLD][RE@=!&TB]^S^Y#>!ZJ))V/I 7V4P03^\9-SU%SAG9V!M[=7_EB71_84>^Z_=FC]QYGS ME3J0\C54!U+.EBRD;!; 3'J-FYH6VM"%5C'P+U_@G9+T:MM%:S9>N,[M#:SS M*T:ZL95')T?-2;C"2]NGI:WJTA+55G9I'Z/:%T4KO!MR]_MU%*:!AS97&)W\ MY+I"C$9;%L0E>H\RYT41U_58!-]SH,]MT'Q@SO0'4VX&]E-3_4]K:E;.\X9G M:._]SQN8@6=1HZ.KEI2<8^^].G&WS5%O? T?\=V^:$#;).XMLW6BX I3L,HX M011,%$P4;"D%YQ'Q1,-$PT3#UM)PM]L_;-6!AE]F+-MJ$W^;'=_(CLPL=D2HT\X[6?GSR; MR$#&"6JK-X]E<7T-4,W$8Z=_V-8 HZDLL4Z%/5C81>2V\[V30+ M@0S8ZF'S2$\:$S8)FYM7%7M]O7A8 B>!<_/@U#QN81HX*^7W&\S+6BBETQ,W MP@^G69%BC *KI 6DRH@^FL355!N(K&K3,=4\[!">"$_E>6FT=LD(3X2G5?Q) MQS0P6\FRW>?W!0LY[6,)Z3>8\'56M083R<:QR&/PU4YW-:!L$Y?I!>0LZ1%,SX*@&SG13=6/U]5[6\ 3NQ$RFRI/^YF4J M\W.Y;*ML#M=VX+3ZM/JT^O4<.*U^I0(Y/V.14A$GQ09Z)4_,[;?:6@JJ/<'% M9$29C\&.5B)\PB!AL#0,.LTF@9! N%L0'G!L-S M7\_DJ@"SK92C--L=S?9$YYND#1:(I)Z;_I7:\B>W@>UX!#:[B>@_>[@M0;@" M$-[$P3.",$%X6Q ^IE/UUIZJ5PIN.6$ =3H8N=]JZ1617G>.7L7/=QOZ3:XX M(J07$%)W,V?1B)"(D&I%2'@@8ZNGE8F2B)(L/=N_W]>L [A56K'%?V^PE?,Y M=]W[81R_84,Q"B-1^/,3_F/MU&$V"HJVEL.I)MR^3DS=0O"V]2IDTA%H0F+I MAFM/RP-$?)30NWOT.IUUW)=F,=)Z1%Y_GBFM;'\H C&2R1L;'?=;V5$UWZ-H M)-,F5T?UJ,'1B_JV+84A0;M^T-YO$::<.>VW$=&YSK=XH30)! J"!6$"D(%H6(CF;,W:!]LHX3& Q\^XTD2R6&: M<-3^DA ,9F$ ;02NM_'\)"(8C85$8O'/%JWUD;5K:H*C(_6LCKCH[6LSOAJ MLY;UB)#]P&/IWI/$STC9TE=]=]$26JZZYU9\UW&\32T_'(5O6HY7@T#2A5RU/[-[[4^FGB?!V M;/(925!&T(VN 5<=D462B>AEX\:5J384@9_ OWG#AX0%T4L=Z473*#'7]JC. M%A2'D?%KD5DA,0O3)$YX@'VI5Q&L_G&CTV\UVL>5L)[K[)ZJ+$+[C:->N]%S M2MUG)(020DODH]QL=*HAY2N57:1PD&],(344D>OH MG::RQCIQ0&-AU6_V&OVNCIN*8$6PVH"&1[ B6*T6@IVCQK%C$[=2VM=;=6YJ M=EW]7>B-+P-QD!]>^8@F9[,(P$_W[ 1]#D"?=O^5V\EW>7LX!/X+:X>=8_'7PZ/FKV>\UNOPLV M2^=C:] ^_>!T/AR?G7V"!][R%X]T,S2P8M*W.=_JZ_(!QX%WPP,7[(A3&4_# MF/OL4D0WTA5Q@WT.W,.=TLDC_?T8!BJW!D?;YP/WL?/LFXTI.P.@\%[?L(ISP!W)[PJ-K M&63=XVD2%A,H:[8?!Y#A40SCZ?QN*D^/#NOI#:FYGQ,T'>WUMM MY&=-]-J_O-M[("/SYI_XZ:G?2O_I98_M--AO5ZI:;YNJV@/B.W[MT(X?YU^G MPA63H8A8VVF8%L9IZA'-351.?X7';F-8:#6=XYK;7S5>^L>*G9F9L&NUC5C6 M= SB^($"9U?&E0T33&T'3JMOZ,D.+=('^RV-(F"JC)=!\;8O+4GZZHRU;-'= M-Y6 >3QF/("5Q0_B[U3>@4ME[[F:T<5:([;V*./FN-Q-//4FQ;446?E MB(C+4.(ZTBME;1IM::J>IHJN@>O"Y"8QBX0K0&P-?=%@@4A8.&+/ *W_-PY["K)!Q^.&O"2>"K<1-X(_\[D76;-R6HU^UK5)4V5 M Q5@]W;CR7&T,N\;S_LLU^=_B\242Z\H-QTK#ATT6BU-YXUI4MHH<)K*$&T#I],]I"PB9K')S,Z60<*#:XDGP#*3^U$=DD]" M&.2_YSIDV^D?.ID&V>H?'1Z7JC]N(NY_X\ZDMIXSZ;FQFLJ%:\5L;<1CMZ?' M<0W%8\FZJ^%[.4]Y/U^Q?&U8/HQF N:^#E:M"@Q\;@),CAQL-[J=MEYDKO:P M314P55;SB82K3,(MO=A)^TBX2H?3U+?EJ MU2YMJT-) 6SGWQ6%IM.K2P2J5=KTJ1@)L*,]%HD;$:0KM&FKH_QZ#AV$MY3% M&0DGO<0[QO,KR_6^PATXX4D:91[_+ )*:8,^#[R1]'U@L?HC=%-&$>6*8U# \KW=4 MJ>@\4COMAF._>ZB3C-Y4.-8K6-1]]5YVI01_I]6LAN0GG;1RT&Q6),]NE2+] MBI-/:+.)XIAG/;NT[" MUVGTCEO5.'5L%'9-99:6@;/O:![0- V<%3H2/WC9AL^FV*N)0&VUCP[OUVDV M6=Z3^F@XGEK'E#/)/,XWB^21@1M.!$OXC_6UQ2JEQN[W2SB7;4%J;*-@;BIC MK12RCYV-;$4:A^Q*)GTO<<_'PFW+5N.HU:2-])IR64,1Z6C6?S,4D351@$M) MY%!EY:BV Z?5U_'P&1N/&$XF80!/A.[W$_;S8=-A4QZQ&^ZGHL&5S[3>U HE(X5K]PH7H=892SDK^(842>O@IS)VMG2<&\:S/=N5R:5B92/IRK5/!-HD MJ/>[Q_UR(\&JPC))Z;00RYJ[R;9CN6(ZZE7NK MLK%=KX"W5ELK!-FZB#?2KVL';<>I1YARU8,YE8+]6G;^BB4NJ:S4AJ=E(]6C M#"#3#=9Y,U765$"D$'G90UZ;JL&V4WGW-L&2);/KZN]";WP9B(-Q5L+,:35_ MV4QWU!]U=?[UJ4XLS)$K@D1$973K_MJJO^.H>,>47XN#823X]P,^@B9/N'_+ M[^*]O+NZF=5?,>G;G&_U=;DVWL"[X8$K/'8JXVD8@_)R*:(;Z:(G\'/@'C[ S([[ M^S$,E$:K-IDN$_@'#W6K7)0?>3QFGT",Q$RKURLH?^'I)=;?! :HGI8!R*SL M^^+K@S":<'^)C3K-C&DJ\F>N\/W\UW_M-??4=S!UW.+[(_-T)2>@4IZ+6W81 M3O@#07DKO60,'V%<.0,$)=_GTUB<%!\>#'AOIG[/+*W^WFKE/&NBU_[EW=X# M5IPW_\1/3_U6^D\O>\S0C%C]UQ),]L"^#!C!&B:RUW.<8<-N+A?,1,;0T:KZ>B$ M'%? P*&E;SJ/'=U[V?D70\Z_E3472BT:*;5H%(43%DY%Q!/H$^.XRTLE4^FX M'*U^::,2(YE!J M&B]"A+(50JE:2K&MJY-KKL 3V\,#[Z\T3C)G6Q*R2+AAX$I?L."^J,&?\:*+ MBN?JIF *SD"KCJHJ&X),0AO)O=<'D M\TF:XVWU^E:5!*^!]F8YGIH5*S7Z"JVH)*:V]B)\'//@6F#ZEQ&7>989W'/T MX.X;CHSFP-L)7IC=J@[ MKCV>P8)JF+'78:(2OE7;+5!98)TYG M))QZ5L&IDKI@5K^8S_A:R;LC5@E8O6JTQ@E8TORJ!LR.%I\T#IA5VE+^#8-* M8N28HS!2)SN34>HC(T4O8!65/[L<-Z3[F8VFKE5HJJ3JI]R ^]=5,FI>,:C !J,,<@[2\X)GVY$ MG(AU>:R) 0S1H>55H5CUHDQ&@D_/;W2%OA54@_] R[BH9<1>BA;3:?%_E>$ MON2,N\ N<^=E)++Z3Y@4;Q+, AGQO+"0-YCWKDYBOEV-J#'2/ZL&S K%VNXN M2T_IHB0[9:@TT(5<"7$L\M#PA;SR#95B 1CQ,(UE(.">../#D?#6/%5? :*M M^OAJLY:55*0^!RY695/'B8N8E9HJ2& 'E'I\V!8#@32JZB&YJV726@]EFS>& M%SGQ-!)3+KUB7R4_:)R5=4^C" ^89*I8%=TQ>MBU!:)UT@BMA%]3*]K+%OA5 M4HD]%3GKW)%_F3/1#[)V()HOQ+W42SONMKEX1=-M].*1G5@W*>H702,_<9- A MGTZAP09S_3!.(Z'VO:=AG!P4%Y2E[LD$/E=R\]OI:X5I5X6+UHE9&HF_EEY* M"5OP5Z;&VBT)GZ4/_+RD@G?/2OMG*G:7J@WDC>$=#UO:N$NJW]0+J-.=(;W1 MDJMU]UR]/D31;O;U3,%*$45ECORH;[="-38,?4^IXR!$D,AB-HK"27X&_54R MI.J'0NJDT%9]+0VLH5Q^NMHT7=*VOH,.PIAKKU< XNY+Y[AW#*(TTC5*(R$ MBW2SOJ%O(I@[5NV4UDE-M!%-_?IF(3>$SPT6$O1VUIP7?M2?!=+%/*FS]2.%HNSY)6TA!0P,V?W\KC55V-QV_Y+I482;X6WJU M>5XZ6--!3EJV[0!N'NDYVRH"8 ,5^^WO,HUDP .WU%VF*BMZM1TXK7YEW)K MOZ/P5F+&\=?E4)MQG/AXZJMFQHB.'SA752GFI,)8[3=IF MMUH?C561QG"J=J/$#Q&Y$D.F\HVH[-=(3(M8JAJZ:AQ'KYS$,T,E_=8 9FLA M'-L;\7M703LN:Q=G[25ZL&NCX>>KUUYFIZ^7R+/J>YFD,M>.%)RFHY>NK.JT ML,-]_5(DPF**E2S "P\?X >,:KWA?D4=P%VK$D.2>FPVFO1+J%5!Q373 :R^ M/;+3_1B#:["AN)8!UOQ%!\.=X!&)__D#FPD*,2Z3#^FU!.Q* KOR9^0?Y^D" MBS8]Q^V(P?KAP+Y>=-CG.7WFZ]K$C/#LU425,!@4*T90EM ME2$##2(M)>O>)E@>979=_55_U#/SKPL]]&4@#L:9:'%:S5_>+739!7DBHC(Z M?=^?K/Z.H^(=4WXM#H:1X-\/^ B:/.'^+;^+]_+NMLZ9S=CQH'GWLG,(#;_F+1[J9Q5@QZ2^9[[(@\F>8LG@< MICYF3.<>2\:"C4+?5Z&.3 :C,)IPM<>,WJ\P^"L-LH0;MS(9LS"-&$\]F8@L M'0?J>!R_Y!LGW(?.P(4LQ A5D"!,1(RM1"()&5O;#527$V<=P,I%Q#.,Z7%ZBK6-BHPT^HAM>G/WO MV?GO9U4>]=[[JR50*\8':!_YPL7 -\!17BP DQ!B^XNG>V?(G,*[0R_&PJ:>^@YFMEM\?V385W("!'PN;ME% M..$/U+0)CZYED'6/ITE87,BT/G7E5GK)&.Z&P>=2&JQ0GT]C<5)\>,!L]V;V MX=P1T-];;3YF;;2<7][M/5 8\O97_]33>NJ)G_IEOY Z3YU_ OW;,]I*MV)> MY -T-I%I;N7 RM*N'U$ KL:1$.PK_#".V=E#Q:N>IGGUUOE/5*Q?MKXU).V[ MVZ;6VDIY;GG+V$+1'E'K2*_2M'&A G6.@=G>P#1<=YUUS-7W:]G#;A MF"3%CB5%][@:=0^)PK8Q\'(J#.F+D:X!Q1=V6W>(9 S)&,MDC--H]MHD92I- M8[;9(YJ9<J3B.25;L7%:T2U;R2%881F/VR0JMTQY5D14F'M?2'N:IC*=A MS'V33WWK,\]V3ZLNM:DN3X>.;:S:HE^-)56U1W:N;"%AUH&QV:]-R[J M#..J4SAY M76%<518+(Z8C.[:#LTJ U,MX0CRV C"N+(]MM\I5'(C'$H]=9YS]>NNQE0IW M_(S5O]QP HSSC@E?3F3 L6A5-2,=]WM=+>R:"=$WM&=E"^ZJ7X5 %X5N%]UPN:( M^UD#/$?[30U,RIJS\ENUU]W'VQM"*S'3%XQ M:29)P.U.VXY)R6EJ!MZL/4E4Z[G*:B2)Y_J*Y_9Q1^\0 (EG$L^&31N)9Q+/ M))Y)/%=(/#N-HU9[RUR%!#0):!+0)*!)0). )@']K(#&FGY:61U(0). -FS: M=DU,)*#7/J3R-L$:@K/KZN]"AWP9B(.Q4,-U6LU?WBWTT!5X,&0S/.*%7=@< MD]IR!Z[&@HU"'[@(@(>I-6&1&/G"36),+!Y>GD0PC=B=X=%*IR5QX>HE)-8&VU-,R +:;?5]\?1!&$^XO4:C3S#3#;()= MX?OYK__::^ZI[_&4N\7W1P9])2>P$.?BEEV$$_Z U]]*+QG#1QA73O7 /WP^ MC<5)\>'!@/=FH2&S"#*GM;; 8EE207U]3:CY&'H>XI)1D*PK_##.&9G0/0>.Q6NF Q% MQ-I.HYX1?Y5;Y3]!@+UL=6M(RL_F+5A2;1^JFQN>B0W"HM5TUHF1KP*%UWKQ MUPD1IL6W?/&)\FN\^(]1_HM%O^U!]0,8%K\6[$X*W]OU+LNN@\_*K9I;*6>> M471@E$>\0@30*3>1(A$ $8!=!$ 2@ B@Y@30(0+03KIGESOP0KAWK@^-5N>H MM][93BV4;GQYZIKGPD[@-A#O"W;JXTQ'7A#O"W;JXJW@^J=KX?S^EPF=Q M&KEC'EV+I^O@K;5%8%F"\7V]&NYKSX(%M&$429C$K"M& DX)P<_64P#YP^I. M!B )=%)65XP.2!+4F 1($M3*,9PE6M2-"#$3PBVM0Y&V(9'<)29BKU.AO,>$ M/;NPUZI0[F/"GEW8:U=H-[8$[<]V5_&WZ)H'TF4WH9].M%S$=ED]^WHZHV5F M#1GV58:P7F "09@@; J$__%3O^6T-C)0LU!,.PU5A[)FY8FJP+AJ;M*!^W)[A+W=8:\ZT;3D)WU_*F]$G,@D MC?2J$]IEU)!];A:@36*W!&6",D&9H$Q0)BC3'M8&3Z%9HAE_GDRYF[!P5)PS M@W_=\#I0/E1X$P\\'GF,>^$4KU3&P-/GQF:"E1P,=N%OOZ5UA,5,\-$Y<6MP M1WR/\&=A!)^9X*MWGH+L3%*A-F85:ZA^U2;VM*AZ%;D/B(1FQV=TCFX1"1$) M$0G-3C]NMQPID1"14,5(2#,K+Y'0S$2RL SIV@VJK\O53K[]=G8QN/I\_BL[ M^_]^.SN_/+O<8G^V/@&/ESV-T\F$1W!3S,(T8N%41#S!G\6/J0ABN#P*HZS@ M*;PT]&(VC42,(/#8O@P8M.ACR#?C@8=E4CG>AR#!,BKSK8TWKRB2NO6I?0F\ M%YY?8ID&ED6%];R60=8]GB9A<2'C7^I*29536_V]U9Z7K(VV7G74TFNJ'I5> M +6BG2^]K1ITWM"=Z?YKN6?_62UT7C2Y79$"J,^4N67UW-ZHWCJO*'3[V/K6 MD)R/=E#RQK=%2$U779JGU*M3".*S?]O]6>&>V!/:5\[7Q MD?Z\">__;E,/=GMZF;-WM@8/G6BT";.U@6\>D$>:6Y%VG22@;422$?;(B$ZW MW*1()",,HS#;9$0MDGZ2C" 988V,@27 M*B5V&TNW;1&RX^C*X_YQN=2\V]4S4_2\8DY,HNHJ11$?Z=7CJ%*4L-X12MQ( ML62_9."ZD5#9-,(1\WG@C:2/QR83&8F)@)>%0VB//Y&S>![JN,TPF!)/F^AL M@9O*E$EIVHG!6:%3XS5-5F Y%]-SBA,7(RZVR,6JD]&:N)B5".QKU8TF-D9L M;)&-52=U&;$Q*Q'8(S9F%J!L!%'%V9B!X _L%I\4TD9JC[7M+: MB2O,=<*WCO2JO>C/B9V[45M-[U*=[:HZ9<4YZE):' KAV";UD%RNKESN.EI6 M'LEEDLNF3=NNY7);+UB7Y#+)99++))?O!_]W^UOF)R2923)74S)W*1=7YOM,V>V?6N8:)4>F M/-BU66K*;E^;I2:JKLU2US>[_1<.RZA\+9'P.3IAAB(0(YGHG"HI=:O-S-TT MH]-4]OMZ!SLH1Z4Y['=[ ]]"1#-E,B8$DX@P2D1T#MLD(BI,8+:)"+T<020B MJHM@$A&[)C8%\3&G28%Q]8/P57EKFV]C0SBK@9ALTIX/#:@T#@Q5V*NY:@*1UV] MW&S$7X[:'NU8JEO%3*OQ*[BTY M7:I&;!'S,Q-$;:TS/?:PLAJ@SG(VUFIJB5EB8\3&%@)?M=(I$!LS"'66L[%> M2RO8C-@8L;&%X B*O+8==9:SL;Y>> ZQ,6)CB]J8SK:$/6RL'N&*GR(>N&,9 M9\&*XS!.V$B(FH4K.DU*U%9I#FH9'EOE1B#8PW/K#. *,U?*<&8Y-JN$QQ8E M.*L?@*O*7#LEJPK$7(FYDN9*S)68ZSMUBK'4/'?$7(FYDN9:]U#%"QE_9Q,> M\&M5KKN2&TS'M+]D$1LT$T-Z]8SL86HU0)WE7*RO9ULMTF(0)7Y%6\>GE M#"-/1$7_G>D/%H>^]-A/3?4_+>CF[\0['KYPXY/Q\P9GH?1!E^<8Z6J2\S,C MW^U:ZDJ@#8#Z(5F_8FJ,DE+&4'QIX#_JZ-FM+YR)5TFTW1),30,F+ $\B;BU M1%Q'+SDNB3@2]B&MM1+VKB(A[\KFO;&2@\(LZ@I)>T(MZ@SBJO)81ZNP$O%7@Z!9)3@VRST11+S5 M!@!7E;<>4XYHVZ%9)3@V*4=T_0!<5=[:TMQ=(N9J#C:KA$>GKHJK3HYHTIS^8%Z9#7]B\,U+. M"89'YJ("^X(EK7!%-P:K@?]2#C$\,166;PW6(/JEWNR_TRTA^(O8/[%_._%_ MI)=^G-@_L?\JP-]I-#N:WD82 "0 *D !H/]OQ/PE 4 "P +X'_>/R?U#[+^^ M[+^,LT_59?]JS^!MPF%HL^OJ[T)7?!F(@[%0 W5:S5_>+?3-%4$BHLU0]%-= MH :?;5!]O. Q]#UYQ>?;ER^?S7QOLU[/SLXO!%S8X/V6#TZ^?SS]?7ET, MKC[_[UF59V3O_=58L%'H [_%[2,%>Q:GDPF/X*:8A6G$8N%#R]<-=BT"$7%? M'07@WD0&,DYP+^IF?H8 WA6Q!-XYA>9"+V;32,1($1[;EP&#OO@R#++3!!S^ MP?N08OBUP),'D;@102K>G!@\Z2^A]87GER1$$UB>>EX&(-JR[XL-!&$TX?X2 MXW2:F;:8+8T+:Y'_^J^]YI[Z#JJ<6WQ_9-A7<@+KVO_NE(ZZDG?NJ5_4+J/'7^"?1OS])@DTJX21==HJ74.F]%26[G41-6U6>K'J+HFV1_V MWE]RGV/VABW!?7GH)YTA"5!; )"%V?/#7Z=%)]$I3F'4BHM2ROR0BK

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report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 16 Show.js IDEA: XBRL DOCUMENT // Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission. Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105. var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0); e.removeAttribute('id');a.parentNode.appendChild(e)}} if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'} e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}}