SEGMENT REPORTING

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

SEGMENT REPORTING

SEGMENT REPORTING

The Company evaluates, oversees and manages the financial performance of two operating and reportable segments – North America and International. Other Costs includes costs (and associated assets and capital expenditures) related to corporate enabling and shared services functions, annual incentive compensation, and stock-based compensation.

The North America and International segments offer the following services: RWCS, which provide collection and processing of biohazardous waste, including regulated and specialized waste, sharps waste management and disposal, pharmaceutical waste management and disposal, chemotherapy waste and disposal controlled substance waste and disposal, healthcare hazardous waste, and integrated waste stream solutions (under the Integrated Waste Stream Solutions, Steri-Safe®, MedDropTM Medication Collection Kiosks, Safe Community Solutions, SafeDropTM Sharps Mailback Solutions, and Airport and Maritime Waste Services brand names) and SID Services, which provide for the secure information destruction and compliance solutions (including document, hard drive, and specialty destruction services) under the Shred-it® brand name which includes regular scheduled services (and processing onsite and offsite) and one-time services (including select, priority and express).

The following table summarizes financial information for the Company's reportable segments:

In millions
	Year Ended December 31,
	2023		2022		2021
Revenues
North America	$	2,255.8	$	2,263.1	$	2,136.5
International	403.5		441.6		510.4
Total	$	2,659.3	$	2,704.7	$	2,646.9
Depreciation (1)
North America	$	64.7	$	68.9	$	73.5
International	15.2		17.2		19.2
Other Costs	24.6		22.4		12.7
Total	$	104.5	$	108.5	$	105.4
Intangible Amortization
North America	$	97.1	$	107.6	$	95.8
International	14.9		16.4		22.1
Total	$	112.0	$	124.0	$	117.9
Adjusted Income from Operations
North America	$	619.0	$	607.1	$	587.6
International	38.2		34.1		53.6
Other Costs	(341.7)		(317.5)		(288.8)
Total	$	315.5	$	323.7	$	352.4
Total Assets (2)
North America	$	4,462.9	$	4,300.8	$	4,364.6
International	652.1		785.0		876.4
Other Costs	237.6		248.3		232.1
Total	$	5,352.6	$	5,334.1	$	5,473.1

(1)Excludes depreciation of $0.6 million for the year ended December 31, 2021, which is included as part of ERP and system modernization.

(2)Includes capital expenditures which are evaluated on a consolidated basis.

The following table reconciles the Company's primary measure of segment profitability, Adjusted Income from Operations, to Income from operations:

In millions
	Year Ended December 31,
	2023		2022		2021
Total Reportable Segment Adjusted Income from Operations	$	315.5	$	323.7	$	352.4
ERP and System Modernization	(19.2)		(19.2)		(59.0)
Intangible Amortization	(112.0)		(124.0)		(117.9)
Operational Optimization	(4.1)		—		—
Portfolio Optimization	(65.6)		8.7		(3.3)
Litigation, Settlements and Regulatory Compliance	(30.8)		(30.0)		(93.2)
Asset Impairments	(6.5)		(5.5)		(6.7)
Income from operations	$	77.3	$	153.7	$	72.3