Item 2.02 Results of Operations and Financial Condition.
On February 10, 2022, Republic Services, Inc. (the Company) issued a press
release containing information about the Company's financial results for the
three months and year ended December 31, 2021. A copy of this press release is
furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated
herein by reference. The attached earnings press release contains information
about the Company's full year 2022 guidance.
Item 7.01 Regulation FD Disclosure.
2022 Financial Guidance
Our guidance is based on current economic conditions and does not assume any
significant changes in the overall economy in 2022 and does not contemplate the
impact from the pending acquisition of US Ecology, Inc. which is subject to
regulatory and other approvals.
Diluted earnings per share is expected to be in a range of $4.53 to $4.60 and
adjusted diluted earnings per share is expected to be in a range of $4.58 to
$4.65. Adjusted diluted earnings per share excludes the impact of expected
restructuring charges.
We believe that the presentation of adjusted diluted earnings per share, which
excludes restructuring charges, provides an understanding of operational
activities before the financial impact of certain items. We use this measure,
and believe investors will find it helpful, in understanding the ongoing
performance of our operations separate from items that have a disproportionate
impact on our results for a particular period. We have incurred comparable
charges, costs, and recoveries in prior periods, and similar types of
adjustments can reasonably be expected to be recorded in future periods. Our
definition of adjusted diluted earnings per share may not be comparable to
similarly titled measures presented by other companies.
Cash provided by operating activities for 2022 is expected to be in a range of
$2,910 million to $2,980 million. Adjusted free cash flow for 2022 is expected
to be in a range of $1,625 million to $1,675 million. Adjusted free cash flow
consists of cash provided by operating activities, less property and equipment
received, which is expected to be in a range of $1,320 million to $1,340
million, plus proceeds from the sale of property and equipment of $20 million,
and is exclusive of cash paid for restructuring activities of approximately $15
million, net of tax.
We believe that presenting adjusted free cash flow guidance provides useful
information regarding our recurring cash provided by operating activities after
certain expenditures or recoveries. It also demonstrates our ability to execute
our financial strategy and is a key metric we use to determine compensation. The
presentation of adjusted free cash flow has material limitations. Adjusted free
cash flow does not represent our cash flow available for discretionary
expenditures because it excludes certain expenditures that are required or to
which we have committed, such as debt service requirements and dividend
payments. Our definition of adjusted free cash flow may not be comparable to
similarly titled measures presented by other companies.
For a reconciliation of adjusted diluted earnings per share to diluted earnings
per share and adjusted free cash flow to cash
provided by operating activities, see page 14 of the press release included as
Exhibit 99.1 hereto.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits

     Exhibit No.             Description
         99.1                Press release of Republic Services, Inc.

issued February 10, 2022 to announce


                             the financial results for the three months and

year ended December 31, 2021.


         104                 Cover Page Interactive Data File - the cover

page XBRL tags are embedded within


                             the Inline XBRL document.



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