WASTE CONNECTIONS, INC. (WCN) FY2025 Q3 Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2025-07-01 to 2025-09-30

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WASTE CONNECTIONS, INC. cash flow reconciliation, Jul 1, 2025 through Sep 30, 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: $286,270,000.00Depreciation → Operating adjustments reconciliation: $263,999,000.00Loss (gain) from disposal of assets, impairments and other → Operating adjustments reconciliation: $60,134,000.00Amortization of intangibles → Operating adjustments reconciliation: $51,331,000.00Deferred income taxes, net of acquisitions → Operating adjustments reconciliation: $35,547,000.00Share-based compensation → Operating adjustments reconciliation: $18,476,000.00Interest accretion → Operating adjustments reconciliation: $12,855,000.00Current period provision for expected credit losses → Operating adjustments reconciliation: $4,150,000.00Amortization of debt issuance costs → Operating adjustments reconciliation: $2,170,000.00Adjustments to contingent consideration → Operating adjustments reconciliation: $290,000.00Operating adjustments reconciliation → Net cash from operating activities: $391,179,000.00Operating adjustments reconciliation → Net change in operating assets and liabilities, net of acquisitions: $53,388,000.00Operating adjustments reconciliation → Other: $4,385,000.00Proceeds from disposal of assets → investing reconciliation: $3,736,000.00investing reconciliation → Capital expenditures for property and equipment: $297,172,000.00investing reconciliation → Payments for acquisitions, net of cash acquired: $116,572,000.00investing reconciliation → Other: $3,933,000.00Net cash used in financing activities → financing reconciliation: $239,014,000.00Proceeds from long-term debt → financing reconciliation: $608,641,000.00Proceeds from issuance of shares under employee share purchase plan → financing reconciliation: $2,871,000.00financing reconciliation → Payments for repurchase of common shares: $441,787,000.00financing reconciliation → Principal payments on notes payable and long-term debt: $319,813,000.00financing reconciliation → Payments for cash dividends: $81,000,000.00financing reconciliation → Payment of contingent consideration recorded at acquisition date: $5,429,000.00financing reconciliation → Debt issuance costs: $1,392,000.00financing reconciliation → Change in book overdraft: $733,000.00financing reconciliation → Tax withholdings related to net share settlements of equity-based compensation: $372,000.00Net cash used in investing activities → investing reconciliation: $413,941,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $267,471,000.00Net cash from operating activities → Cash sources and uses: $677,449,000.00Cash sources and uses → Exchange-rate effect: $1,380,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $290,585,000.00Cash sources and uses → Net cash used in investing activities: $413,941,000.00Cash sources and uses → Net cash used in financing activities: $239,014,000.00Net income: $286,270,000.00Net income+$286.27 MLoss (gain) from disposal of assets, impairments and other: $60,134,000.00Asset disposal gain & loss+$60.13 MDepreciation: $263,999,000.00Depreciation expense+$264.00 MAmortization of intangibles: $51,331,000.00Intangible amortization+$51.33 MDeferred income taxes, net of acquisitions: $35,547,000.00Deferred income taxes+$35.55 MCurrent period provision for expected credit losses: $4,150,000.00Credit loss provision+$4.15 MAmortization of debt issuance costs: $2,170,000.00Debt issuance cost amortization+$2.17 MShare-based compensation: $18,476,000.00Stock-based compensation+$18.48 MInterest accretion: $12,855,000.00Interest accretion+$12.86 MAdjustments to contingent consideration: $290,000.00Contingent consideration change+$290.00 KPayment of contingent consideration recorded in earnings: $0.00Other: -$4,385,000.00Other non-cash items−$4.39 MNet change in operating assets and liabilities, net of acquisitions: -$53,388,000.00Operating capital changes−$53.39 MNet cash from operating activities: $677,449,000.00Operating cash+$677.45 MOperating adjustments reconciliation: $448,952,000.00Proceeds from long-term debt: $608,641,000.00Long-term debt issued+$608.64 MPrincipal payments on notes payable and long-term debt: -$319,813,000.00Long-term debt repaid−$319.81 MPayment of contingent consideration recorded at acquisition date: -$5,429,000.00Contingent consideration paid−$5.43 MChange in book overdraft: -$733,000.00Bank overdrafts, net−$733.00 KProceeds from issuance of shares under employee share purchase plan: $2,871,000.00Employee stock plans & options+$2.87 MPayments for repurchase of common shares: -$441,787,000.00Common stock repurchases−$441.79 MPayments for cash dividends: -$81,000,000.00Common dividends paid−$81.00 MTax withholdings related to net share settlements of equity-based compensation: -$372,000.00Stock-award tax withholding−$372.00 KDebt issuance costs: -$1,392,000.00Debt issuance costs−$1.39 MProceeds from sale of common shares held in trust: $0.00Other: $0.00Net cash used in financing activities: -$239,014,000.00. Cash required to fund net payments.Financing cash−$239.01 Mfinancing reconciliation: $850,526,000.00Payments for acquisitions, net of cash acquired: -$116,572,000.00Acquisitions, net of cash−$116.57 MCapital expenditures for property and equipment: -$297,172,000.00PP&E purchases−$297.17 MProceeds from disposal of assets: $3,736,000.00PP&E sales+$3.74 MProceeds from sale of investment in noncontrolling interests: $0.00Other: -$3,933,000.00Other investing, net−$3.93 MNet cash used in investing activities: -$413,941,000.00. Cash required to fund net payments.Investing cash−$413.94 Minvesting reconciliation: $417,677,000.00Cash sources and uses: $944,920,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $267,471,000.00Beginning cash$267.47 MEnding cash: Cash, cash equivalents, and restricted cash: $290,585,000.00Ending cash$290.59 MExchange-rate effect: -$1,380,000.00FX effect−$1.38 MCASH RECONCILIATIONOperatingflowsInvestingflowsFinancingflowsFree cash flow$380.28 MOperating cash − cash spent on PP&ECash flow / Net income2.37×Operating cash flow ÷ net incomeNet cash change+$23.11 MEnding cash − beginning cash
Chart details

WASTE CONNECTIONS, INC. cash flow reconciliation, Jul 1, 2025 through Sep 30, 2025

Cash flows for Jul 1, 2025 through Sep 30, 2025. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Jun 30, 2025. Ending cash: Sep 30, 2025. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Jun 30, 2025
267,471,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
677,449,000 US dollars. Net cash provided.
Net income
286,270,000 US dollars
Loss (gain) from disposal of assets, impairments and other
60,134,000 US dollars
Depreciation
263,999,000 US dollars
Amortization of intangibles
51,331,000 US dollars
Deferred income taxes, net of acquisitions
35,547,000 US dollars
Current period provision for expected credit losses
4,150,000 US dollars
Amortization of debt issuance costs
2,170,000 US dollars
Share-based compensation
18,476,000 US dollars
Interest accretion
12,855,000 US dollars
Adjustments to contingent consideration
290,000 US dollars
Payment of contingent consideration recorded in earnings
0 US dollars
Other
negative 4,385,000 US dollars
Net change in operating assets and liabilities, net of acquisitions
negative 53,388,000 US dollars
Investing activities
negative 413,941,000 US dollars. Net cash used.
Payments for acquisitions, net of cash acquired
negative 116,572,000 US dollars
Capital expenditures for property and equipment
negative 297,172,000 US dollars
Proceeds from disposal of assets
3,736,000 US dollars
Proceeds from sale of investment in noncontrolling interests
0 US dollars
Other
negative 3,933,000 US dollars
Financing activities
negative 239,014,000 US dollars. Net cash used.
Proceeds from long-term debt
608,641,000 US dollars
Principal payments on notes payable and long-term debt
negative 319,813,000 US dollars
Payment of contingent consideration recorded at acquisition date
negative 5,429,000 US dollars
Change in book overdraft
negative 733,000 US dollars
Proceeds from issuance of shares under employee share purchase plan
2,871,000 US dollars
Payments for repurchase of common shares
negative 441,787,000 US dollars
Payments for cash dividends
negative 81,000,000 US dollars
Tax withholdings related to net share settlements of equity-based compensation
negative 372,000 US dollars
Debt issuance costs
negative 1,392,000 US dollars
Proceeds from sale of common shares held in trust
0 US dollars
Other
0 US dollars
Operating adjustment reconciliation
448,952,000 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
850,526,000 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
417,677,000 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
negative 1,380,000 US dollars
Ending cash on Sep 30, 2025
290,585,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
944,920,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
23,114,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
2.37×. 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
677,449,000 US dollars. Operating cash flow used in the free cash flow calculation.
Cash purchases of property, plant and equipment
297,172,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
380,277,000 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 $391.18M 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.
  • Cash-flow net income is $286,270.00 K, derived by subtracting the earlier cumulative period; the income statement reports $286,271.00 K for the same period. The $1.00 K difference is rounding: the filing reports each amount rounded to the nearest thousand dollars, and the quarter is the difference of two rounded year-to-date amounts. Neither amount has been adjusted.
  • Operating cash flow minus cash purchases of property, plant and equipment equals free cash flow: 677,449,000 US dollars minus 297,172,000 US dollars equals 380,277,000 US dollars.
  • Cash-flow net income is $286,270.00 K, derived by subtracting the earlier cumulative period; the income statement reports $286,271.00 K for the same period. The $1.00 K difference is rounding: the filing reports each amount rounded to the nearest thousand dollars, and the quarter is the difference of two rounded year-to-date amounts. Neither amount has been adjusted.
WASTE CONNECTIONS, INC. (WCN) FY2025 Q3 Statement of Cash Flows Sankey chart
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