REPUBLIC SERVICES, INC. Annual Report, Year Ended Dec 31, 2011

Republic Services, Inc. (RSG) reported $8.2 billion in revenue for the year ending December 31, 2011. The company, a leading provider of non-hazardous solid waste services, demonstrated stable revenue performance year-over-year. Key financial highlights include operating income of $1.55 billion and net income of $589.2 million, resulting in diluted earnings per share of $1.56. The company continued its focus on shareholder value through a robust cash utilization strategy, including significant share repurchases totaling $500.8 million during the year and a consistent quarterly dividend, which was increased to $0.22 per share. Furthermore, Republic Services maintained a strong balance sheet and investment-grade credit ratings, underscoring its financial stability and operational efficiency. The company is well-positioned with a strong integrated platform and a clear strategy for targeted profitable growth, supported by an experienced management team. The company's operating strategy emphasizes leveraging its integrated platform, which includes 334 collection operations, 194 transfer stations, and 191 active landfills across 39 states and Puerto Rico. A significant portion of its revenue (75%) is derived from collection services, with residential, commercial, and industrial segments contributing significantly. The company's emphasis on internalization, where collected waste is disposed of at company-owned or operated landfills, reached approximately 66-68% over the past three years, contributing to operational efficiencies. Republic Services also highlighted its commitment to safety, people, durability through fleet modernization and automation, customer experience enhancement via technology, and targeted profitable growth through price and volume increases, strategic acquisitions, and development activities. The company provided guidance for 2012, anticipating revenue growth of 1.5% to 2.0% and adjusted diluted earnings per share between $1.98 and $2.02.