REPUBLIC SERVICES, INC.
For the period ended Jun 30, 2026. Filed Aug 7, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Aug 7, 2026
RSG$246.85-1.0%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2026-03-31; filed 2026-05-08.
0001060391-26-000212
Item 2. Management's Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2026-06-30; filed 2026-08-07.
0001060391-26-000275
Item 2. Management's Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 177 previous paragraphs and 180 current paragraphs.
82 unchanged; 88 reworded; 8 added; 5 removed; 2 previous and 2 current paragraphs rearranged.
Tables are not compared: 16 previous and 18 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (8)
Current report
•Transportation and subcontract costs increased primarily due to an increase in transportation rates and fuel surcharges. Transportation surcharges increased due to an increase in fuel prices during the period.
Current report
(Gain) Loss on Business Divestitures and Impairments, Net
Current report
•Cost of operations increased primarily due to an increase in fuel, subcontract and labor costs.
Current report
•Cost of operations increased for the three months ended June 30, 2026 primarily due to an increase in subcontract and fuel costs relative to the same period in 2025.
Current report
Cash Flows Used in Financing Activities
Current report
The most significant items affecting the comparison of our cash flows used in financing activities for the six months ended June 30, 2026 and 2025 are summarized below:
Current report
•Dividends paid were $385 million and $362 million during the six months ended June 30, 2026 and 2025, respectively.
Current report
On August 6, 2026, the Company amended its commercial paper program to increase the Commercial Paper Cap from $1.5 billion to $2.0 billion.
Removed paragraphs (5)
Previous report
At current consumption levels, we believe a twenty-cent per gallon change in the price of diesel fuel would change our fuel costs by approximately $26 million per year. Offsetting these changes in fuel expense would be changes in our fuel recovery fee charged to our customers. At current participation rates, a twenty-cent per gallon change in the price of diesel fuel would change our fuel recovery fee by approximately $42 million per year.
Previous report
(1) The Recycling & Waste Subtotal represents the combined results of our Group 1 and Group 2 reportable segments.
Previous report
Cash Flows (Used in) Provided by Financing Activities
Previous report
The most significant items affecting the comparison of our cash flows (used in) provided by financing activities for the three months ended March 31, 2026 and 2025 are summarized below:
Previous report
•Dividends paid were $193 million and $181 million during the three months ended March 31, 2026 and 2025, respectively.
Reworded paragraphs (88)
Previous wording
Republic is one of the largest providers of environmental services in the United States, as measured by revenue. As of March 31, 2026, we operated across the United States and Canada through 381 collection operations, 258 transfer stations, 81 recycling centers, 209 active landfills, 2 treatment, recovery and disposal facilities, 24 treatment, storage and disposal facilities (TSDF), 5 salt water disposal wells, 15 deep injection wells, 10 industrial wastewater treatment facilities and 2 polymer centers. We are engaged in 85 landfill gas-to-energy and other renewable energy projects and had post-closure responsibility for 124 closed landfills as of March 31, 2026.
Current wording
Republic is one of the largest providers of environmental services in the United States, as measured by revenue. As of June 30, 2026, we operated across the United States and Canada through 389 collection operations, 260 transfer stations, 84 recycling centers, 208 active landfills, 2 treatment, recovery and disposal facilities, 24 treatment, storage and disposal facilities (TSDF), 5 salt water disposal wells, 16 deep injection wells, 10 industrial wastewater treatment facilities and 2 polymer centers. We are engaged in 87 landfill gas-to-energy and other renewable energy projects and had post-closure responsibility for 125 closed landfills as of June 30, 2026.
Previous wording
Revenue for the three months ended March 31, 2026 increased by 2.6% to $4,113 million compared to $4,009 million for the same period in 2025. This change in revenue is due to increases in average yield of 3.4%, increased revenue from acquisitions, net of divestitures of 1.1% and increased fuel recovery fees of 0.2%. These increases were partially offset by a decrease in environmental solutions revenue of 1.3% and a decrease in volume of 0.8%.
Current wording
Revenue for the six months ended June 30, 2026 increased by 3.6% to $8,544 million compared to $8,244 million for the same period in 2025. This change in revenue is due to increases in average yield of 3.4%, increased revenue from acquisitions, net of divestitures of 1.1% and increased fuel recovery fees of 1.0%. These increases were partially offset by a decrease in environmental solutions revenue of 0.7% and a decrease in volume of 1.2%.
Previous wording
The following table summarizes our revenue, expenses and operating income for the three months ended March 31, 2026 and 2025 (in millions of dollars and as a percentage of revenue):
Current wording
The following table summarizes our revenue, expenses and operating income for the three and six months ended June 30, 2026 and 2025 (in millions of dollars and as a percentage of revenue):
Previous wording
Our pre-tax income was $656 million for the three months ended March 31, 2026, compared to $665 million for the same period in 2025. Our net income attributable to Republic Services, Inc. was $525 million for the three months ended March 31, 2026, or $1.70 per diluted share, compared to $495 million, or $1.58 per diluted share, for the same period in 2025.
Current wording
Our pre-tax income was $699 million and $1,355 million for the three and six months ended June 30, 2026, respectively, compared to $720 million and $1,385 million for the same periods in 2025, respectively. Our net income attributable to Republic Services, Inc. was $566 million and $1,092 million for the three and six months ended June 30, 2026, or $1.84 and $3.54 per diluted share, respectively, compared to $550 million and $1,045 million, or $1.75 and $3.33 per diluted share, for the same periods in 2025, respectively.
Previous wording
During each of the three months ended March 31, 2026 and 2025, we recorded a number of charges, other expenses and benefits that impacted our pre-tax income, tax expense, net income attributable to Republic Services, Inc. (net income – Republic) and diluted earnings per share as noted in the following table (in millions, except per share data). Additionally, see our Results of Operations discussion in this Management's Discussion and Analysis of Financial Condition and Results of Operations for a discussion of other items that impacted our earnings during the three months ended March 31, 2026 and 2025.
Current wording
During each of the three and six months ended June 30, 2026 and 2025, we recorded a number of charges, other expenses and benefits that impacted our pre-tax income, tax expense, net income attributable to Republic Services, Inc. (net income – Republic) and diluted earnings per share as noted in the following table (in millions, except per share data). Additionally, see our Results of Operations discussion in this Management's Discussion and Analysis of Financial Condition and Results of Operations for a discussion of other items that impacted our earnings during the three and six months ended June 30, 2026 and 2025.
Previous wording
(2) The aggregate impact to adjusted diluted earnings per share totals to less than $0.01 for the three months ended March 31, 2026.
Current wording
(2) The aggregate impact to adjusted diluted earnings per share totals to less than $0.01 for the six months ended June 30, 2026 and 2025.
Previous wording
Restructuring charges. During thethree months ended March 31, 2026 and 2025, we incurred restructuring charges of$2 million and$4 million, respectively. The charges related to the design and implementation of our new accounts receivable system. During thethree months ended March 31, 2026 and 2025, we paid $4 million and $3 million, respectively, related to these restructuring efforts.
Current wording
Restructuring charges. During thethree and six months ended June 30, 2026, we incurred restructuring charges of$4 million and$6 million, respectively. During the three and six months ended June 30, 2025, we incurred restructuring charges of $6 million and $9 million, respectively. The charges related to the design and implementation of our new accounts receivable system.
Previous wording
During the remainder of 2026, we expect to incur additional restructuring charges of approximately $20 million, related primarily to the continuing design and implementation of our new accounts receivable system. Substantially all of these restructuring charges will be recorded in Corporate entities and other.
Current wording
During the remainder of 2026, we expect to incur additional restructuring charges of approximately $14 million, related primarily to the continuing design and implementation of our new accounts receivable system. Substantially all of these restructuring charges will be recorded in Corporate entities and other.
Previous wording
Gain on business divestitures and impairments, net. During thethree months ended March 31, 2026 and 2025, we recorded a net gain on business divestitures and impairments of $1 million and $2 million, respectively.
Current wording
(Gain) loss on business divestitures and impairments, net. During thesix months ended June 30, 2026, we recorded a net gain on business divestitures and impairments of $1 million. During the three and six months ended June 30, 2025, we recorded a loss on business divestitures and impairments of $3 million and $1 million, respectively.
Previous wording
We generate revenue by providing environmental services to our customers, including the collection and processing of recyclable materials, the collection, treatment, consolidation, transfer and disposal of hazardous and non-hazardous waste and other environmental solutions. Our residential, small-container and large-container collection operations in some markets are based on long-term contracts with municipalities. Certain of our municipal contracts have annual price escalation clauses that are tied to changes in an underlying base index such as a consumer price index. We generally provide small-container and large-container collection services to customers under contracts with terms up to three years. Our transfer stations and landfills generate revenue from disposal or tipping fees charged to third parties. Our recycling centers generate revenue from tipping fees charged to third parties and the sale of recycled commodities. Our revenue from environmental solutions is primarily generated by (1) fees we charge for the collection, treatment, transfer and disposal of hazardous and non-hazardous waste, (2) field and industrial services, (3) equipment rental, (4) emergency response and standby services, (5) in-plant services, such as transportation and logistics, including at our TSDFs and (6) in-plant services such as high-pressure cleaning, tank cleaning, decontamination, remediation, transportation, spill cleanup and emergency response at refineries, chemical, steel and automotive plants and other governmental, commercial and industrial facilities. Other non-core revenue consists primarily of revenue from National Accounts, which represents the portion of revenue generated from nationwide or regional contracts in markets outside our operating areas where the associated material handling is subcontracted to local operators. Consequently, substantially all of this revenue is offset with related subcontract costs, which are recorded in cost of operations. The following table reflects our revenue by service line for the three months ended March 31, 2026 and 2025 (in millions of dollars and as a percentage of revenue):
Current wording
We generate revenue by providing environmental services to our customers, including the collection and processing of recyclable materials, the collection, treatment, consolidation, transfer and disposal of hazardous and non-hazardous waste and other environmental solutions. Our residential, small-container and large-container collection operations in some markets are based on long-term contracts with municipalities. Certain of our municipal contracts have annual price escalation clauses that are tied to changes in an underlying base index such as a consumer price index. We generally provide small-container and large-container collection services to customers under contracts with terms up to three years. Our transfer stations and landfills generate revenue from disposal or tipping fees charged to third parties. Our recycling centers generate revenue from tipping fees charged to third parties and the sale of recycled commodities. Our revenue from environmental solutions is primarily generated by (1) fees we charge for the collection, treatment, transfer and disposal of hazardous and non-hazardous waste, (2) field and industrial services, (3) equipment rental, (4) emergency response and standby services, (5) in-plant services, such as transportation and logistics, including at our TSDFs and (6) in-plant services such as high-pressure cleaning, tank cleaning, decontamination, remediation, transportation, spill cleanup and emergency response at refineries, chemical, steel and automotive plants and other governmental, commercial and industrial facilities. Other non-core revenue consists primarily of revenue from National Accounts, which represents the portion of revenue generated from nationwide or regional contracts in markets outside our operating areas where the associated material handling is subcontracted to local operators. Consequently, substantially all of this revenue is offset with related subcontract costs, which are recorded in cost of operations.
Previous wording
The following table reflects changes in components of our revenue, as a percentage of total revenue, for the three months ended March 31, 2026 and 2025:
Current wording
The following table reflects changes in components of our revenue, as a percentage of total revenue, for the three and six months ended June 30, 2026 and 2025:
Previous wording
The following table reflects core price, average yield and volume as a percentage of related-business revenue for the three months ended March 31, 2026 and 2025:
Current wording
The following table reflects core price, average yield and volume as a percentage of related-business revenue for the three and six months ended June 30, 2026 and 2025:
Previous wording
During the three months ended March 31, 2026, we experienced the following changes in our revenue as compared to the same period in 2025:
Current wording
During the three and six months ended June 30, 2026, we experienced the following changes in our revenue as compared to the same period in 2025:
Previous wording
•Average yield increased revenue by 3.4% for the three months ended March 31, 2026 due to positive pricing changes in all lines of business.
Current wording
•Average yield increased revenue by 3.4% for the three and six months ended June 30, 2026 due to positive pricing changes in all lines of business.
Previous wording
•The fuel recovery fee program, which mitigates our exposure to increases in fuel prices, increased revenue by 0.2% for the three months ended March 31, 2026, due to an increase in fuel prices compared to the same period in 2025.
Current wording
•Fuel recovery fees, which mitigate our exposure to changes in fuel prices, increased revenue by 1.8% and 1.0% for the three and six months ended June 30, 2026, respectively, due to an increase in fuel prices compared to the same periods in 2025.
Previous wording
•Volume decreased revenue by 0.8% during the three months ended March 31, 2026, primarily due to a decrease in volume in our collection lines of business. The decline in revenue in our large-container collection line of business was primarily driven by a slowing in construction-related activity and certain manufacturing end markets. The decline in our residential and small-container collection lines of business is primarily attributable to certain municipal contract losses and broker-related business.
Current wording
•Volume decreased revenue by 1.6% and 1.2% during the three and six months ended June 30, 2026, respectively, primarily due to a decrease in volume in our collection lines of business. The decline in revenue in our large-container collection line of business was primarily driven by a slowing in construction-related activity and certain manufacturing end markets. The decline in our residential and small-container collection lines of business is primarily attributable to certain municipal contract losses.
Previous wording
The decrease in overall volume during the three months ended March 31, 2026 was partially offset by an increase in solid waste and special waste volumes in our landfill line of business. The increase in overall landfill volumes was partially offset by a decline in construction and demolition volumes, which was primarily related to non-recurring Hurricane Helene recovery efforts in 2025.
Current wording
Landfill volume decreased during the three and six months ended June 30, 2026 primarily due to a decrease in construction and demolition volumes which was primarily related to non-recurring Hurricane Helene recovery efforts in 2025. This decrease in landfill volume during the six months ended June 30, 2026 was partially offset by an increase in solid waste and special waste landfill volumes.
Previous wording
•There was no net change to revenue as a result of recycling processing and commodity sales during the three months ended March 31, 2026. For the three months ended March 31, 2026, volume increased at our Polymer Centers and from acquisitions. The volume increase was offset by a decrease in overall commodity prices compared to the same period in 2025. The average price for recycled commodities at our recycling centers, excluding glass and organics, for the three months ended March 31, 2026 was $120 per ton compared to $155 per ton for the same period in 2025.
Current wording
•Recycling processing and commodity sales increased revenue by 0.1% during the three months ended June 30, 2026, primarily due to increased volume at our Polymer Centers. The volume increase was partially offset by a decrease in overall commodity prices compared to the same period in 2025. There was no net change to revenue as a result of recycling processing and commodity sales during the six months ended June 30, 2026 as compared to the same period in 2025. For the six months ended June 30, 2026, volume increased at our Polymer Centers. The volume increase was offset by a decrease in overall commodity prices compared to the same period in 2025. The average price for recycled commodities at our recycling centers, excluding glass and organics, for the three and six months ended June 30, 2026 was $136 and $128 per ton, respectively, compared to $149 and $152 per ton for the same periods in 2025, respectively.
Previous wording
•Environmental solutions decreased revenue by 1.3% during the three months ended March 31, 2026, primarily due to a decline in emergency response activity.
Current wording
•Environmental solutions decreased revenue by 0.2% and 0.7% during the three and six months ended June 30, 2026, respectively, due to a decline in event-based volumes relative to the same periods in 2025.
Previous wording
•Acquisitions, net of divestitures, increased revenue by 1.1% during the three months ended March 31, 2026, reflecting the results of our continued growth strategy of acquiring environmental services companies that complement and expand our existing business platform.
Current wording
•Acquisitions, net of divestitures, increased revenue by 1.1% during the three and six months ended June 30, 2026, reflecting the results of our continued growth strategy of acquiring environmental services companies that complement and expand our existing business platform.
Previous wording
The following table summarizes the major components of our cost of operations for the three months ended March 31, 2026 and 2025 (in millions of dollars and as a percentage of revenue):
Current wording
The following table summarizes the major components of our cost of operations for the three and six months ended June 30, 2026 and 2025 (in millions of dollars and as a percentage of revenue):
Previous wording
The most significant items impacting our cost of operations during the three months ended March 31, 2026 and 2025 are summarized below:
Current wording
The most significant items impacting our cost of operations during the three and six months ended June 30, 2026 and 2025 are summarized below:
Previous wording
•Transfer and disposal costs increased in aggregate dollars primarily due to an increase in disposal rates.
Current wording
•Transfer and disposal costs increased in aggregate dollars primarily due to activity from acquisitions.
Previous wording
During the three months ended March 31, 2026 and 2025, approximately 68% and 67%, respectively, of the total solid waste volume we collected was disposed at landfill sites that we owned or operated (internalization).
Current wording
During both the three and six months ended June 30, 2026 and 2025 , approximately 67%, of the total solid waste volume we collected was disposed at landfill sites that we owned or operated (internalization).
Previous wording
•Our fuel costs increased during the three months ended March 31, 2026, primarily due to an increase in the average diesel fuel price per gallon. The national average diesel fuel price per gallon for the three months ended March 31, 2026 and 2025 was $4.12 and $3.63, respectively.
Current wording
•Our fuel costs increased due to an increase in the average diesel fuel cost per gallon. The national average diesel fuel cost per gallon for the three and six months ended June 30, 2026 was $5.35 and $4.73, respectively, compared to $3.56 and $3.59 for the same periods in 2025, respectively.
Previous wording
•Other costs of operations increased due to increased occupancy and facility related expenses as well as a favorable non-recurring insurance recovery recognized during 2025 that did not repeat in 2026.
Current wording
•For the six months ended June 30, 2026, other costs of operations increased due to increased occupancy and facility related expenses as well as a favorable non-recurring insurance recovery recognized during 2025 that did not repeat in 2026.
Previous wording
The following table summarizes depreciation, depletion and amortization of property and equipment for the three months ended March 31, 2026 and 2025 (in millions of dollars and as a percentage of revenue):
Current wording
The following table summarizes depreciation, depletion and amortization of property and equipment for the three and six months ended June 30, 2026 and 2025 (in millions of dollars and as a percentage of revenue):
Previous wording
Depreciation and amortization of property and equipment increased for the three months ended March 31, 2026, largely due to an increased investment in trucks and the supporting infrastructure as well as the addition of assets through acquisitions.
Current wording
Depreciation and amortization of property and equipment increased for the three and six months ended June 30, 2026, largely due to asset additions at one of of our Polymer Centers and amortization associated with internally developed software. Depreciation and amortization of property and equipment also increased due to the addition of assets through acquisitions.
Previous wording
Landfill depletion and amortization expense decreased for the three months ended March 31, 2026, primarily due to recognition of certain favorable amortization adjustments related to our asset retirement obligations, partially offset by increased volumes and a higher overall depletion rate.
Current wording
Landfill depletion and amortization expense decreased for the three months ended June 30, 2026 primarily due to decreased volumes, partially offset by a higher overall depletion rate. For the six months ended June 30, 2026, landfill depletion and amortization expense decreased primarily due to recognition of certain favorable amortization adjustments related to our asset retirement obligations compared to unfavorable amortization adjustments in the same period in 2025.
Previous wording
Amortization of other intangible assets primarily relates to customer relationships. Expenses for amortization of other intangible assets were $23 million, or 0.6% of revenue, for the three months ended March 31, 2026, compared to $21 million, or 0.5% of revenue, for the same period in 2025. Amortization expense increased due to assets added through acquisition activity.
Current wording
Amortization of other intangible assets primarily relates to customer relationships. Expenses for amortization of other intangible assets were $23 million and $46 million, or 0.5% of revenue, for the three and six months ended June 30, 2026, respectively, compared to $22 million and $43 million, or 0.5% of revenue, for the same periods in 2025, respectively. Amortization expense increased due to assets added through acquisition activity.
Previous wording
Our other assets primarily relate to the prepayment of fees and capitalized implementation costs associated with cloud-based hosting arrangements. Expenses for amortization of other assets were $35 million, or 0.9% of revenue, for the three months ended March 31, 2026, compared to $24 million, or 0.6% of revenue, for the same period in 2025.
Current wording
Our other assets primarily relate to the prepayment of fees and capitalized implementation costs associated with cloud-based hosting arrangements. Expenses for amortization of other assets were $37 million and $73 million, or 0.8% of revenue, for the three and six months ended June 30, 2026, respectively, compared to $26 million and $50 million, or 0.6% of revenue, for the same periods in 2025, respectively.
Previous wording
Accretion expense was $30 million, or 0.7% of revenue, for the three months ended March 31, 2026, compared to $28 million, or 0.7% of revenue, for the same period in 2025.
Current wording
Accretion expense was $30 million and $60 million, or 0.7% of revenue, for the three and six months ended June 30, 2026, respectively, compared to $28 million and $57 million, or 0.7% of revenue, for the same periods in 2025, respectively.
Previous wording
The following table summarizes our selling, general and administrative expenses for the three months ended March 31, 2026 and 2025 (in millions of dollars and as a percentage of revenue):
Current wording
The following table summarizes our selling, general and administrative expenses for the three and six months ended June 30, 2026 and 2025 (in millions of dollars and as a percentage of revenue):
Previous wording
The most significant items affecting our selling, general and administrative expenses during the three months ended March 31, 2026 and 2025 are summarized below:
Current wording
The most significant items affecting our selling, general and administrative expenses during the three and six months ended June 30, 2026 and 2025 are summarized below:
Previous wording
•Other selling, general and administrative expenses decreased during the three months ended March 31, 2026 primarily due to a favorable legal settlement recognized during the period.
Current wording
•Other selling, general and administrative expenses decreased during the six months ended June 30, 2026 primarily due to a favorable legal settlement, partially offset by professional services recognized during the period.
Previous wording
For a discussion of Restructuring Charges incurred during the three months ended March 31, 2026 and 2025, see Overview of this Management's Discussion and Analysis of Financial Condition and Results of Operations.
Current wording
For a discussion of Restructuring Charges incurred during the three and six months ended June 30, 2026 and 2025, see Overview of this Management's Discussion and Analysis of Financial Condition and Results of Operations.
Previous wording
For additional information on Gain on business divestitures and impairments, net incurred during the three months ended March 31, 2026 and 2025, see Overview of this Management's Discussion and Analysis of Financial Condition and Results of Operations.
Current wording
For additional information on gain on business divestitures and impairments, net incurred during the three and six months ended June 30, 2026 and 2025, see Overview of this Management's Discussion and Analysis of Financial Condition and Results of Operations.
Previous wording
The following table provides the components of interest expense, including accretion of debt discounts and accretion of discounts primarily associated with environmental and risk insurance liabilities assumed in acquisitions, for the three months ended March 31, 2026 and 2025 (in millions of dollars):
Current wording
The following table provides the components of interest expense, including accretion of debt discounts and accretion of discounts primarily associated with environmental and risk insurance liabilities assumed in acquisitions, for the three and six months ended June 30, 2026 and 2025 (in millions of dollars):
Previous wording
Total interest expense for the three months ended March 31, 2026 increased primarily due to a higher overall debt balance, partially offset by lower interest rates on our debt compared to the same period in 2025.
Current wording
Total interest expense for the three and six months ended June 30, 2026 increased primarily due to a higher overall debt balance and higher interest rates on our debt compared to the same periods in 2025.
Previous wording
For the three months ended March 31, 2026 and 2025, cash paid for interest was $117 million and $105 million, respectively.
Current wording
For the six months ended June 30, 2026 and 2025, cash paid for interest was $260 million and $243 million, respectively.
Showing the first 40 of 88 pairs. Open the source sections for the rest.
Rearranged current paragraphs (2)
Current report — wording carried from elsewhere
The following table reflects our revenue by service line for the three and six months ended June 30, 2026 and 2025 (in millions of dollars and as a percentage of revenue):
Current report — wording carried from elsewhere
In June 2026, we issued $700 million of 4.750% senior notes due 2031 and $500 million of 5.000% senior notes due 2036. We used the proceeds from the June 2026 notes issuance for general corporate purposes, including the repayment of a portion of amounts outstanding under our credit facilities and a portion of outstanding borrowings under our commercial paper program.
Rearranged previous paragraphs (2)
Previous report — wording carried elsewhere
Gain on business divestitures and impairments, net
Previous report — wording carried elsewhere
•Cost of operations increased primarily due to an increase in labor costs and fuel costs.