Waste Connections Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	1,077	616.57	762.83	836	618.49
Depreciation & Amortization	1,232	1,164	1,003	918.96	813.01
Stock-Based Compensation	79.45	77.89	70.44	63.49	58.22
Other Adjustments	-15.43	332.08	238.38	112.37	168.46
Change in Receivables	-68.06	-10.65	-20.63	-100.55	-54.69
Changes in Accounts Payable	57.08	-33.32	32.33	192.85	66.75
Changes in Accrued Expenses	54.37	90.04	21.75	-28.08	3.85
Changes in Unearned Revenue	27.33	18.24	26.52	42.25	31.71
Changes in Other Operating Activities	-29.33	-25.67	-8.01	-14.79	-7.57
Operating Cash Flow	2,414	2,229	2,127	2,022	1,698
Operating Cash Flow Growth	8.31%	4.80%	5.16%	19.09%	20.57%
Capital Expenditures	-1,194	-1,056	-934	-912.68	-744.32
Sale of Property, Plant & Equipment	10.13	7.9	31.58	30.68	42.77
Payments for Business Acquisitions	-817.58	-2,121	-676.79	-2,207	-960.45
Other Investing Activities	-21.43	9.79	-1.87	1.73	-31.49
Investing Cash Flow	-2,023	-3,159	-1,581	-3,087	-1,693
Long-Term Debt Issued	2,674	4,564	1,819	4,816	2,112
Long-Term Debt Repaid	-2,130	-3,245	-2,052	-3,074	-1,893
Net Long-Term Debt Issued (Repaid)	544.39	1,319	-233.39	1,742	219.09
Issuance of Common Stock	5.79	6.5	4.7	3.93	1.65
Repurchase of Common Stock	-505.52	-	-	-425	-338.99
Net Common Stock Issued (Repurchased)	-499.73	6.5	4.7	-421.07	-337.34
Common Dividends Paid	-333.81	-302.26	-270.6	-243.01	-220.2
Other Financing Activities	-70.9	-78.35	-45.12	-49.62	-161.05
Financing Cash Flow	-360.04	944.95	-544.41	1,028	-499.5
Effect of Exchange Rate Changes on Cash and Cash Equivalents	0.62	-0.56	1.34	-2.04	-0.03
Net Cash Flow	31.41	14.14	2.67	-38.25	-494.77
Free Cash Flow	1,220	1,173	1,193	1,110	953.91
Free Cash Flow Growth	3.99%	-1.67%	7.48%	16.34%	28.22%
FCF Margin	12.88%	13.15%	14.87%	15.39%	15.51%
Free Cash Flow Per Share	4.73	4.53	4.62	4.30	3.64
Levered Free Cash Flow	2,845	2,710	1,434	2,777	1,001
Unlevered Free Cash Flow	1,446	1,020	1,101	1,189	997.69

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.