Waste Connections Inc 2025年季度报告

(Mark One) ☑QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGEACT OF 1934For the quarterly period endedMarch 31,2025Or☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGEACT OF 1934For the transition period fromtoCommission file number1-34370 WASTE CONNECTIONS, INC.(Exact name of registrant as specified in its charter)Ontario, Canada(State or other jurisdiction of incorporation or organization)98-1202763(I.R.S. Employer Identification No.)6220 Hwy 7,Suite 600WoodbridgeOntarioL4H 4G3Canada(Address of principal executive offices)(905)532-7510(Registrant’s telephone number, including area code)Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file suchreports); and (2) has been subject to such filing requirements for the past 90 days. YesþNo◻ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was requiredto submit such files). Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one): If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.◻ Yes☐NoþIndicate the number of shares outstanding of each of the issuer’s classes of common shares:As of April 11, 2025:258,394,228common shares WASTE CONNECTIONS,INC.FORM10-Q TABLE OF CONTENTS PagePART I – FINANCIAL INFORMATION (unaudited)Item 1.Financial StatementsCondensed Consolidated Balance Sheets1Condensed Consolidated Statements of Net Income2Condensed Consolidated Statements of Comprehensive Income3Condensed Consolidated Statements of Equity4Condensed Consolidated Statements of Cash Flows6Notes to Condensed Consolidated Financial Statements7Item 2.Management’s Discussion and Analysis of Financial Condition and Results ofOperations33Item 3.Quantitative and Qualitative Disclosures About Market Risk52Item 4.Controls and Procedures54PART II – OTHER INFORMATIONItem 1.Legal Proceedings55Item 6.Exhibits55Signatures56 WASTE CONNECTIONS,INC.CONDENSED CONSOLIDATED STATEMENTS OF NET INCOME(Unaudited)(In thousands of U.S. dollars, except share and per share amounts) Shares used in the per share calculations: The accompanying notes are an integral part of these condensed consolidated financialstatements. WASTE CONNECTIONS,INC.CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME(Unaudited)(In thousands of U.S. dollars) Three Months EndedMarch31,20252024Net income$241,510$229,127Other comprehensive income (loss), before tax:Interest rate swap amounts reclassified into interest expense(3,324)(5,385)Changes in fair value of interest rate swaps(1,147)9,972Foreign currency translation adjustment1,740(56,381)Other comprehensive loss, before tax(2,731)(51,794)Income tax (expense) benefit related to items of other comprehensive loss1,185(1,216)Other comprehensive loss, net of tax(1,546)(53,010)Comprehensive income239,964176,117Plus: Comprehensive loss attributable to noncontrolling interests—927Comprehensive income attributable to Waste Connections$239,964$177,044 The accompanying notes are an integral part of these condensed consolidated financialstatements. WASTE CONNECTIONS,INC.CONDENSED CONSOLIDATED STATEMENTS OF EQUITY(Unaudited)(In thousands of U.S. dollars, except share amounts) WASTE CONNECTIONS,INC.CONDENSED CONSOLIDATED STATEMENTS OF EQUITY(Unaudited)(In thousands of U.S. dollars, except share amounts) WASTE CONNECTIONS, INC.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited)(In thousands of U.S. dollars) Three Months EndedMarch31,20252024CASH FLOWS FROM OPERATING ACTIVITIES:Net income$241,510$229,127Adjustments to reconcile net income to net cash provided by operating activities:Loss from disposal of assets, impairments and other7,7781,649Depreciation242,307222,691Amortization of intangibles47,64240,290Deferred income taxes, net of acquisitions36,16530,395Current period provision for expected credit losses2,4703,730Amortization of debt issuance costs2,0344,055Share-based compensation23,43821,952Interest accretion12,73711,279Adjustments to contingent consideration(1,500)—Other(1,013)902Net change in operating assets and liabilities, net of acquisitions(72,029)(75,761)