Prepare vertical common-size balance sheets and income statements for 3 years

Republic Services, Inc.

CONSOLIDATED BALANCE SHEETS

(in millions, except per share data)

December 31, December 31,

2015 2014

ASSETS

Current assets:

Cash and cash equivalents

Accounts receivable, less allowance for doubtful accounts and other of $46.7 and $38.9, respectively

Prepaid expenses and other current assets Deferred tax assets

Total current assets

Restricted cash and marketable securities

Property and equipment, net

Goodwill

Other intangible assets, net Other assets

Total assets

$	75.2 930.4 263.4 122.0
	1,391.0 115.6 7,165.3 10,830.9 298.9 292.3
$	20,094.0
$	527.3 10.4 306.3 164.3 67.0 750.7
	1,826.0 7,050.8 1,677.5 1,149.0 298.0 344.9 - 4.1 6,876.9 2,795.0 (1,901.8) (28.9)
	7,745.3 2.5
	7,747.8
$	20,094.0

$	32.4 962.9 235.0 -
	1,230.3 100.3 7,552.8 11,145.5 246.4 301.9
$	20,577.2
$	577.4 5.5 313.9 149.8 71.6 716.6
	1,834.8 7,568.7 1,677.9 1,131.8 278.1 309.3 - 3.5 4,677.7 3,138.3 (14.9) (30.5)
	7,774.1 2.5
	7,776.6
$	20,577.2

LIABILITIES AND STOCKHOLDERS EQUITY

Current liabilities:

Accounts payable

Notes payable and current maturities of long-term debt

Deferred revenue

Accrued landfill and environmental costs, current portion

Accrued interest

Other accrued liabilities

Total current liabilities

Long-term debt, net of current maturities

Accrued landfill and environmental costs, net of current portion

Deferred income taxes and other long-term tax liabilities

Insurance reserves, net of current portion

Other long-term liabilities Commitments and contingencies Stockholders equity:

Preferred stock, par value $0.01 per share; 50 shares authorized; none issued

Common stock, par value $0.01 per share; 750 shares authorized; 346.0 and

414.4 issued including shares held in treasury, respectively

Additional paid-in capital

Retained earnings

Treasury stock, at cost (0.4 and 61.7 shares, respectively) Accumulated other comprehensive loss, net of tax

Total Republic Services, Inc. stockholders equity Noncontrolling interests

Total stockholders equity

Total liabilities and stockholders equity

CONSOLIDATED STATEMENTS OF INCOME

(in millions, except per share data)

	Years Ended December 31,
	2015	2014	2013
Revenue Expenses:	$ 9,115.0	$ 8,803.3	$ 8,417.2
Cost of operations	5,518.6	5,643.1	5,234.7
Depreciation, amortization and depletion	970.6	906.9	877.4
Accretion	79.4	78.0	76.6
Selling, general and administrative Negotiation and withdrawal costs Central States Pension and Other	983.1	918.9	853.8
Funds	4.5	1.5	157.7
Loss (gain) on disposition of assets and impairments, net	-	20.0	(1.9)
Restructuring charges	-	1.8	8.6
Operating income	1,558.8	1,233.1	1,210.3
Interest expense	(364.9)	(348.7)	(360.0)
Loss on extinguishment of debt	-	(1.4)	(2.1)
Interest income	0.8	0.6	0.7
Other income, net	1.2	1.7	2.3

	Years Ended December 31,
	2015		2014		2013
Net income Other comprehensive (loss) income, net of tax Hedging activity:	$	750.4	$	547.9	$	589.1
Settlements		(16.4)		0.3		1.7
Realized loss (gain) reclassified into earnings		18.7		1.2		(0.2)
Unrealized (loss) gain Pension activity:		(2.0)		(24.1)		2.3
Change in funded status of pension plan obligations		(1.9)		(9.3)		7.1
Gain related to pension settlement reclassified to earnings		-		-		(2.1)

Other comprehensive (loss) income, net of tax 8.8

Comprehensive income

Comprehensive income attributable to noncontrolling interests Comprehensive income attributable to Republic Services, Inc.

CONSOLIDATED BALANCE SHEETS

(in millions, except per share data)

December 31, December 31,

2013 2012

ASSETS

Current assets:

Cash and cash equivalents

Accounts receivable, less allowance for doubtful accounts of $38.3 and $45.3, respectively

Prepaid expenses and other current assets Deferred tax assets

Total current assets

Restricted cash and marketable securities

Property and equipment, net

Goodwill

Other intangible assets, net Other assets

Total assets

$	67.6 836.6 209.3 117.8
	1,231.3 164.2 6,910.3 10,690.0 358.7 262.4
$	19,616.9
$	474.5 19.4 313.2 195.5 68.8 623.6
	1,695.0 7,051.1 1,420.6 1,232.7 290.9 220.9 - 4.1 6,588.9 2,403.2 (1,287.1) (5.8)
	7,703.3 2.4
	7,705.7
$	19,616.9

$	213.3 890.7 200.3 117.6
	1,421.9 169.7 7,036.8 10,724.1 315.8 280.9
$	19,949.2
$	511.4 15.7 301.8 178.7 68.2 641.3
	1,717.1 7,002.4 1,464.3 1,185.4 294.9 379.0 - 4.1 6,764.9 2,632.7 (1,501.2) 3.0
	7,903.5 2.6
	7,906.1
$	19,949.2

LIABILITIES AND STOCKHOLDERS EQUITY

Current liabilities:

Accounts payable

Notes payable and current maturities of long-term debt

Deferred revenue

Accrued landfill and environmental costs, current portion

Accrued interest

Other accrued liabilities

Total current liabilities

Long-term debt, net of current maturities

Accrued landfill and environmental costs, net of current portion

Deferred income taxes and other long-term tax liabilities

Self-insurance reserves, net of current portion

Other long-term liabilities Commitments and contingencies Stockholders equity:

Preferred stock, par value $0.01 per share; 50 shares authorized; none issued

Common stock, par value $0.01 per share; 750 shares authorized; 411.0 and

405.2 issued including shares held in treasury, respectively

Additional paid-in capital

Retained earnings

Treasury stock, at cost (50.6 and 44.1 shares, respectively)

Accumulated other comprehensive income (loss), net of tax

Total Republic Services, Inc. stockholders equity Noncontrolling interests

Total stockholders equity

Total liabilities and stockholders equity

The accompanying notes are an integral part of these financial statements.

CONSOLIDATED STATEMENTS OF INCOME

(in millions, except per share data)

	Years Ended December 31,
	2013	2012	2011
Revenue Expenses:	$ 8,417.2	$ 8,118.3	$ 8,192.9
Cost of operations	5,234.7	5,005.7	4,865.1
Depreciation, amortization and depletion	877.4	848.5	843.6
Accretion	76.6	78.4	78.0
Selling, general and administrative Negotiation and withdrawal costs Central States Pension and Other	853.8	820.9	825.4
Funds	157.7	35.8	-
(Gain) loss on disposition of assets and impairments, net	(1.9)	(2.7)	28.1
Restructuring charges	8.6	11.1	-
Operating income	1,210.3	1,320.6	1,552.7
Interest expense	(360.0)	(388.5)	(440.2)
Loss on extinguishment of debt	(2.1)	(112.6)	(210.8)
Interest income	0.7	1.0	0.3
Other income, net	2.3	3.4	4.3

	823.9 251.8
	572.1 (0.3)
$	571.8
$	1.56
	366.9
$	1.55
	368.0
$	0.91

	851.2 262.1
	589.1 (0.2)
$	588.9
$	1.63
	362.1
$	1.62
	363.4
$	0.99

Income before income taxes906.3 Provision for income taxes317.4

Net income588.9

Net (income) loss attributable to noncontrolling interests0.3

Net income attributable to Republic Services, Inc.$ 589.2

Basic earnings per share attributable to Republic Services, Inc. stockholders:

Basic earnings per share$ 1.57

Weighted average common shares outstanding376.0

Diluted earnings per share attributable to Republic Services, Inc.

stockholders:

Diluted earnings per share$

Weighted average common and common equivalent shares outstanding

Cash dividends per common share

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(in millions)

	Years Ended December 31,
	2013		2012		2011
Net income Other comprehensive income (loss), net of tax Hedging activity:	$	589.1	$	572.1	$	588.9
Settlements		1.7		0.9		(25.3)
Realized (gains) losses reclassified into earnings		(0.2)		(2.3)		4.9
Unrealized gains Pension activity:		2.3		2.8		1.3
Change in funded status of pension plan obligations		7.1		15.6		(20.7)
Gains related to pension settlement reclassified to earnings		(2.1)		(1.3)		(3.6)

	8.8
	597.9 (0.2)
$	597.7

	15.7
	587.8 (0.3)
$	587.5

Other comprehensive income (loss), net of tax(43.4)

Comprehensive income545.5

Comprehensive (income) loss attributable to noncontrolling interests0.3 Comprehensive income attributable to Republic Services, Inc.$ 545.8