INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2020

INCOME TAXES

Schedule of income tax reconciliation

	Successor						Predecessor
	December 31,		December 31,		December 31,		May 31, 2018
	2020		2019		2018 (214 days)		(151 days)
Loss before income taxes	$	(1,355.8)	$	(609.2)	$	(432.7)	$	(191.6)
Income tax recovery at the combined basic federal and provincial tax rate (26.5% in 2020; 26.5% in 2019; and 26.5% in 2018)		(359.3)		(161.4)		(114.7)		(50.8)
Decrease (increase) resulting from:
Permanent differences		12.5		8.8		5.3		3.7
Variance between combined Canadian tax rate and the tax rate applicable to U.S. earnings		(1.3)		1.9		1.3		0.9
(Recognition) non-recognition of deferred tax assets		(11.1)		(6.5)		(1.6)		11.9
Other		(1.7)		(0.3)		(4.3)		7.3
Income tax recovery	$	(360.9)	$	(157.5)	$	(114.0)	$	(26.9)

Schedule of deferred tax assets and liabilities

	Balance,		Acquisitions								Recognized in		Balance,
	December 31,		via business		Foreign		Recognized in		Recognized in		other		December
	2019		combinations		exchange		equity		net loss		comprehensive loss		31, 2020
Deferred tax assets
Non-capital loss carry forwards	$	216.3	$	68.4	$	(1.5)	$	—	$	143.6	$	—	$	426.8
Landfill closures and post-closure obligations		55.0		64.2		(0.7)		—		61.4		—		179.9
Accrued liabilities		2.5		6.1		—		—		1.5		—		10.1
Other		50.8		—		(0.4)		22.3		33.3		—		106.0
		324.6		138.7		(2.6)		22.3		239.8		—		722.8
Deferred tax liabilities
Property and equipment		383.4		212.1		(2.2)		—		77.9		—		671.2
Intangible assets		663.4		41.1		(4.2)		—		(84.6)		—		615.7
Cash flow hedges		14.9		—		—		—		—		(5.1)		9.8
Other		(3.3)		8.9		2.2		—		(115.7)		—		(107.9)
		1,058.4		262.1		(4.2)		—		(122.4)		(5.1)		1,188.8
Net deferred income tax liabilities	$	733.8	$	123.4	$	(1.6)	$	(22.3)	$	(362.2)	$	(5.1)	$	466.0

	Balance,		Acquisitions						Recognized in		Balance,
	December 31,		via business		Foreign		Recognized		other		December 31,
	2018		combinations (1)		exchange		in net loss		comprehensive loss		2019
Deferred tax assets
Non-capital loss carry forwards	$	142.1	$	(12.3)	$	(4.4)	$	90.9	$	—	$	216.3
Landfill closures and post-closure obligations		40.0		2.2		(1.3)		14.1		—		55.0
Accrued liabilities		5.4		(0.1)		(0.3)		(2.5)		—		2.5
Other		28.0		14.5		(2.0)		10.3		—		50.8
		215.5		4.3		(8.0)		112.8		—		324.6
Less: Non-recognition of deferred tax assets		(20.3)		—		(0.3)		20.6		—		—
		195.2		4.3		(8.3)		133.4		—		324.6
Deferred tax liabilities
Property and equipment		309.0		50.8		(11.8)		35.4		—		383.4
Intangible assets		664.5		81.0		(11.7)		(70.4)		—		663.4
Cash flow hedges		(7.5)		—		—		(0.1)		22.5		14.9
Other		(11.7)		—		0.5		7.9		—		(3.3)
		954.3		131.8		(23.0)		(27.2)		22.5		1,058.4
Net deferred income tax liabilities	$	759.1	$	127.5	$	(14.7)	$	(160.6)	$	22.5	$	733.8

(1) Acquisitions via business combinations includes $46.8 million of measurement period adjustments to adjust previously reported purchase price allocations completed during 2018.