ACQUISITION

3 Months Ended

Mar. 31, 2022

Business Combination and Asset Acquisition [Abstract]

ACQUISITION

NOTE 4 – ACQUISITION

Acquisition

The Company acquired a midwest-based regulated waste business in North America on December 31, 2021, which is considered to be complementary to existing operations and aligns with the Company’s portfolio optimization strategy.

The total purchase consideration was $43.4 million and has been preliminarily allocated to the assets and liabilities based on estimated fair values as of the acquisition date, with the excess of the purchase price over the net assets acquired of $22.0 million recorded as goodwill based on the strategic benefits to be achieved and is deductible for tax purposes. The Company is still in the process of valuing the assets acquired in the acquisition and has not recorded any purchase accounting adjustments in the first quarter of 2022.