REPUBLIC SERVICES, INC. (RSG) FY2025 Annual Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2025-01-01 to 2025-12-31

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REPUBLIC SERVICES, INC. cash flow reconciliation, Jan 1, 2025 through Dec 31, 2025One connected Sankey reconciles operating, investing and financing net cash flows through a shared cash pool, from beginning cash to ending cash. Ribbons flow left to right on one dollar scale. Activity totals are dark gray; beginning and ending cash are blue. Cash basis for beginning and ending balances and net cash change: Cash, cash equivalents, and restricted cash. Intermediate calculation bars are lighter gray. Net income is green for profit and red for loss. Identified asset purchases, sales and maturities are blue in either cash direction. Purple identifies capital transactions such as borrowing, repayments, share issuance and dividends. Free cash flow is a separate comparison, not an added cash flow. Read chart description and values below for full signed amounts, including zero items.Net income → Net cash from operating activities: $2,139,000,000.00Depreciation, depletion, amortization and accretion → Operating adjustments reconciliation: $1,928,000,000.00Deferred tax provision → Operating adjustments reconciliation: $269,000,000.00Loss from unconsolidated equity method investments → Operating adjustments reconciliation: $163,000,000.00Other non-cash items → Operating adjustments reconciliation: $81,000,000.00Non-cash interest expense → Operating adjustments reconciliation: $75,000,000.00Other liabilities → Operating adjustments reconciliation: $40,000,000.00Operating adjustments reconciliation → Net cash from operating activities: $2,157,000,000.00Operating adjustments reconciliation → Prepaid expenses and other assets: $174,000,000.00Operating adjustments reconciliation → Accounts receivable: $87,000,000.00Operating adjustments reconciliation → Capping, closure and post-closure expenditures: $70,000,000.00Operating adjustments reconciliation → Remediation expenditures: $54,000,000.00Operating adjustments reconciliation → Accounts payable: $14,000,000.00Proceeds from sales of property and equipment → investing reconciliation: $13,000,000.00Cash received from business divestitures → investing reconciliation: $11,000,000.00investing reconciliation → Purchases of property and equipment: $1,887,000,000.00investing reconciliation → Cash used in acquisitions and investments, net of cash and restricted cash acquired: $1,430,000,000.00investing reconciliation → Other: $20,000,000.00Net cash used in financing activities → financing reconciliation: $938,000,000.00Proceeds from credit facilities and notes payable, net of fees → financing reconciliation: $37,715,000,000.00Proceeds from issuance of senior notes, net of discount and fees → financing reconciliation: $1,183,000,000.00financing reconciliation → Payments of credit facilities and notes payable: $38,206,000,000.00financing reconciliation → Purchases of common stock for treasury: $870,000,000.00financing reconciliation → Cash dividends paid: $738,000,000.00financing reconciliation → Contingent consideration payments: $16,000,000.00financing reconciliation → Issuances of common stock, net: $5,000,000.00financing reconciliation → Distributions paid to non-controlling interests in consolidated subsidiary: $1,000,000.00Net cash used in investing activities → investing reconciliation: $3,313,000,000.00Exchange-rate effect → Cash sources and uses: $1,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $203,000,000.00Net cash from operating activities → Cash sources and uses: $4,296,000,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $249,000,000.00Cash sources and uses → Net cash used in investing activities: $3,313,000,000.00Cash sources and uses → Net cash used in financing activities: $938,000,000.00Net income: $2,139,000,000.00Net income+$2.14 BDepreciation, depletion, amortization and accretion: $1,928,000,000.00Depreciation, depletion & amort.+$1.93 BNon-cash interest expense: $75,000,000.00Accretion expense+$75.00 MDeferred tax provision: $269,000,000.00Deferred income taxes+$269.00 MLoss from unconsolidated equity method investments: $163,000,000.00Equity-method results+$163.00 MOther non-cash items: $81,000,000.00Other non-cash items+$81.00 MAccounts receivable: -$87,000,000.00Accounts receivable−$87.00 MPrepaid expenses and other assets: -$174,000,000.00Prepaid & other assets−$174.00 MAccounts payable: -$14,000,000.00Accounts payable−$14.00 MCapping, closure and post-closure expenditures: -$70,000,000.00Asset retirement settlements−$70.00 MRemediation expenditures: -$54,000,000.00Environmental payments, net−$54.00 MOther liabilities: $40,000,000.00Other operating liabilities+$40.00 MPayments from retirement of certain hedging relationships: $0.00Net cash from operating activities: $4,296,000,000.00Operating cash+$4.30 BOperating adjustments reconciliation: $2,556,000,000.00Proceeds from credit facilities and notes payable, net of fees: $37,715,000,000.00Other long-term debt issued+$37.72 BProceeds from issuance of senior notes, net of discount and fees: $1,183,000,000.00Senior debt issued+$1.18 BPayments of credit facilities and notes payable: -$38,206,000,000.00Debt & capital securities repaid−$38.21 BIssuances of common stock, net: -$5,000,000.00Financing & issuance costs−$5.00 MPurchases of common stock for treasury: -$870,000,000.00Common stock repurchases−$870.00 MCash dividends paid: -$738,000,000.00Common dividends paid−$738.00 MContingent consideration payments: -$16,000,000.00Contingent consideration paid−$16.00 MDistributions paid to non-controlling interests in consolidated subsidiary: -$1,000,000.00Noncontrolling dividends−$1.00 MNet cash used in financing activities: -$938,000,000.00. Cash required to fund net payments.Financing cash−$938.00 Mfinancing reconciliation: $39,836,000,000.00Purchases of property and equipment: -$1,887,000,000.00PP&E purchases−$1.89 BProceeds from sales of property and equipment: $13,000,000.00PP&E sales+$13.00 MCash used in acquisitions and investments, net of cash and restricted cash acquired: -$1,430,000,000.00Acquisitions, net of cash−$1.43 BCash received from business divestitures: $11,000,000.00Business sales, net of cash+$11.00 MOther: -$20,000,000.00Other investing, net−$20.00 MNet cash used in investing activities: -$3,313,000,000.00. Cash required to fund net payments.Investing cash−$3.31 Binvesting reconciliation: $3,337,000,000.00Cash sources and uses: $4,500,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $203,000,000.00Beginning cash$203.00 MEnding cash: Cash, cash equivalents, and restricted cash: $249,000,000.00Ending cash$249.00 MExchange-rate effect: $1,000,000.00FX effect+$1.00 MCASH RECONCILIATIONOperatingflowsInvestingflowsFinancingflowsFree cash flow$2.41 BOperating cash − cash spent on PP&ECash flow / Net income2.01×Operating cash flow ÷ net incomeNet cash change+$46.00 MEnding cash − beginning cash
Chart details

REPUBLIC SERVICES, INC. cash flow reconciliation, Jan 1, 2025 through Dec 31, 2025

Cash flows for Jan 1, 2025 through Dec 31, 2025. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Dec 31, 2024. Ending cash: Dec 31, 2025. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Dec 31, 2024
203,000,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
4,296,000,000 US dollars. Net cash provided.
Net income
2,139,000,000 US dollars
Depreciation, depletion, amortization and accretion
1,928,000,000 US dollars
Non-cash interest expense
75,000,000 US dollars
Deferred tax provision
269,000,000 US dollars
Loss from unconsolidated equity method investments
163,000,000 US dollars
Other non-cash items
81,000,000 US dollars
Accounts receivable
negative 87,000,000 US dollars
Prepaid expenses and other assets
negative 174,000,000 US dollars
Accounts payable
negative 14,000,000 US dollars
Capping, closure and post-closure expenditures
negative 70,000,000 US dollars
Remediation expenditures
negative 54,000,000 US dollars
Other liabilities
40,000,000 US dollars
Payments from retirement of certain hedging relationships
0 US dollars
Investing activities
negative 3,313,000,000 US dollars. Net cash used.
Purchases of property and equipment
negative 1,887,000,000 US dollars
Proceeds from sales of property and equipment
13,000,000 US dollars
Cash used in acquisitions and investments, net of cash and restricted cash acquired
negative 1,430,000,000 US dollars
Cash received from business divestitures
11,000,000 US dollars
Other
negative 20,000,000 US dollars
Financing activities
negative 938,000,000 US dollars. Net cash used.
Proceeds from credit facilities and notes payable, net of fees
37,715,000,000 US dollars
Proceeds from issuance of senior notes, net of discount and fees
1,183,000,000 US dollars
Payments of credit facilities and notes payable
negative 38,206,000,000 US dollars
Issuances of common stock, net
negative 5,000,000 US dollars
Purchases of common stock for treasury
negative 870,000,000 US dollars
Cash dividends paid
negative 738,000,000 US dollars
Contingent consideration payments
negative 16,000,000 US dollars
Distributions paid to non-controlling interests in consolidated subsidiary
negative 1,000,000 US dollars
Operating adjustment reconciliation
2,556,000,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
financing gross reconciliation
39,836,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
investing gross reconciliation
3,337,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
Exchange-rate effect
1,000,000 US dollars
Ending cash on Dec 31, 2025
249,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
4,500,000,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
46,000,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
2.01×. Operating cash flow divided by reconciliation net income for the same period. Black from 0.90× through 1.10×; green above 1.10×; red below 0.90×. Color uses the unrounded ratio.
Operating cash flow
4,296,000,000 US dollars. Operating cash flow used in the free cash flow calculation.
Cash purchases of property, plant and equipment
1,887,000,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
2,409,000,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.

Chart connections

  • Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
  • Financing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Investing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Operating reconciliation adjustments are not all independent cash receipts.
  • Net income enters operating cash directly in the reconciliation. The adjustment junction contributes the remaining $2.16B after reconciling the other positive and negative adjustments. These connections depict an accounting reconciliation, not traced cash receipts.
  • Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
  • The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
  • Operating cash flow minus cash purchases of property, plant and equipment equals free cash flow: 4,296,000,000 US dollars minus 1,887,000,000 US dollars equals 2,409,000,000 US dollars.
REPUBLIC SERVICES, INC. (RSG) FY2025 Annual Statement of Cash Flows Sankey chart
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