Please Read and Agree to the Following Before Proceeding

This website contains forward-looking statements within the meaning of the U.S. federal securities laws. All statements other than statements of historical facts on this website, including, without limitation, those regarding our business strategy, financial position, results of operations, plans, prospects and objectives of management for future operations (including development plans and objectives relating to our activities), are forward-looking statements. Many, but not all, of these statements can be found by looking for words like "expect," "anticipate," "goal," "project," "plan," "believe," "seek," "will," "may," "forecast," "estimate," "intend," "future" and similar words. Statements that address activities, events or developments that we intend, expect or believe may occur in the future are forward-looking statements. Forward-looking statements do not guarantee future performance and may involve risks, uncertainties and other factors which could cause our actual results, performance or achievements to differ materially from the future results, performance or achievements expressed or implied in those forward-looking statements.

Examples of these risks, uncertainties and other factors include, but are not limited to:

  • our history of losses;
  • operating in a highly competitive industry and the inability to compete effectively with larger and better capitalized companies and governmental service providers;
  • results being vulnerable to a downturn in economic conditions;
  • we may lose contracts through competitive bidding, early termination or governmental action;
  • some of our customers, including governmental entities, have suffered financial difficulties affecting their credit risk, which could negatively impact our operating results;
  • our financial and operating performance may be affected by the inability in some instances to renew landfill operating permits, obtain new landfills or expand existing ones;
  • the cost of operation and/or future construction of our existing landfills may become economically unfeasible causing us to abandon or cease operations;
  • we could be precluded from maintaining permits or entering into certain contracts if we are unable to obtain sufficient third-party financial assurance or adequate insurance coverage;
  • our accruals for our landfill site closure and post-closure costs may be inadequate;
  • our cash flow may not be sufficient to finance our high capital expenditure requirements;
  • our acquisitions, including our ability to integrate acquired businesses, or that the acquired businesses will have unexpected risks or liabilities;
  • the seasonal nature of our business and event-driven waste projects that could cause our results to fluctuate;
  • we may be subject to judicial, administrative or other third-party proceedings that could interrupt or limit our operations, result in adverse judgments, settlements or fines and create negative publicity;
  • fuel supply and prices that may fluctuate significantly and that we may not be able to pass on cost increases to our customers or effectively hedge such costs;
  • fluctuations in the prices of commodities;
  • increases in labor and disposal costs and related transportation costs could adversely impact our financial results;
  • derivatives could adversely affect our results;
  • efforts by labor unions to organize our workforce could adversely affect operating results;
  • we depend significantly on the services of the members of our senior, regional and local management teams, and the departure of any of those persons could cause our operating results to suffer;
  • we are increasingly dependent on technology in our operations and, if our technology fails, our business could be adversely affected;
  • a cybersecurity incident could negatively impact our business and our relationships with customers;
  • operational and safety risks, including the risk of personal injury to employees and others;
  • we are subject to substantial governmental regulation and failure to comply with these requirements, as well as enforcement actions and litigation arising from an actual or perceived breach of such requirements, could subject us to fines, penalties and judgments, and impose limits on our ability to operate and expand;
  • operations being subject to environmental, health and safety laws and regulations, as well as contractual obligations that may result in significant liabilities;
  • future changes in laws or renewed enforcement of laws regulating the flow of solid waste in interstate commerce could adversely affect our operating results;
  • fundamental change in the waste management industry as traditional waste streams are increasingly viewed as renewable resources and changes in laws and environmental policies may limit the items that enter the waste stream, any of which may adversely impact volumes and tipping fees at our landfills;
  • alternatives to landfill disposal may cause our revenues and operating results to decline;
  • our substantial indebtedness and our working capital deficit;
  • our ability to implement growth strategy as and when planned; and
  • other risks described in in our filings with the Securities and Exchange Commission available to the public on the SEC’s website at www.sec.gov.

The above examples are not exhaustive and new risks may emerge from time to time. Except as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Such forward-looking statements are based on our current beliefs, assumptions, expectations, estimates and projections regarding our present and future business strategies and the environment in which we will operate in the future. These forward-looking statements speak only as of the date of this website. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in our expectations with regard thereto or any change of events, conditions or circumstances on which any such statement was based.

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22.76 +0.00 +0% Volume: 288,200 December 14, 2017

Our business is your business.

We’re committed to providing timely, transparent information to our investors every step of the way.

Our business is your business.

We’re committed to providing timely, transparent information to our investors every step of the way.

Advanced Disposal is the fourth largest solid waste company in the United States

2.8 million residential customers located throughout16 states

A fleet of more than 3,000 hauling vehicles servicing over 200,000 commercial & industrial customers

We take care to leave our streets and cities cleaner than we found them.

91 hauling collection facilities located within the communities we serve.

Approximately 23,800 tons ofwaste per day collected by91 hauling collection facilities

73 transfer stations providing environmental solutions for non-hazardous waste reduction and disposal.

Financial Statement Snapshot

Consolidated Financial Statements
Advanced Disposal Services, Inc. and Subsidiaries

Consolidated Statements of Operations

(In millions of dollars)



Year Ended December 31,


2016

2015

2014
Service revenues
$ 1,404.6

1,396.4


1,403.0
Operating costs and expenses







Operating expenses (exclusive of items shown separately below)
865.5

866.6


896.1
Selling, general and administrative
157.0

152.6


154.9
Depreciation and amortization
246.9

259.1


271.4
Acquisition and development costs
0.7

1.4

0.1
Loss on disposal of assets and asset impairments
1.8

21.6

6.5
Restructuring charges
0.8



4.6
        Total operating costs and expenses
1,272.7

1,301.3


1,333.6
        Operating income
131.9

95.1

69.4
Other (expense) income







Interest expense
(130.2)

(138.0)


(141.5)
Loss on debt extinguishments and modifications

(64.7)




— 
Other income (expense), net
6.9

(10.1)

(25.9)
       Total other expense
(188.0)

(148.1)


(167.4)
        Loss from continuing operations before income taxes
(56.1)

(53.0)


(98.0)
Income tax benefit
(25.7)

(19.4)


(80.6)
        Loss from continuing operations
(30.4)

(33.6)

(17.4)
Discontinued operations








        Loss from discontinued operations before income tax




(0.7)
        Income tax benefit




(1.0)
                Discontinued operations, net





0.3
Net loss
(30.4)

(33.6)


(17.1)





 


 
Net loss attributable to common stockholders per share



 


 
Basic loss per share

(0.44)

(0.52)


(0.27)
Diluted loss per share

(0.44)

(0.52)


(0.27)
Basic average shares outstanding

69,462,798

64,493,536


64,493,536
Diluted average shares outstanding

69,462,798

64,493,536


64,493,536


Advanced Disposal Services, Inc. and Subsidiaries
Consolidated Balance Sheets
December 31, 2016 and 2015


(In millions of dollars, except shares)
    December 31, 


2016

2015
Assets




Current assets




        Cash and cash equivalents
$ 1.2

0.6
        Accounts receivable, net of allowance for doubtful accounts of $4.0 and $4.4, respectively
183.2

177.5
        Prepaid expenses and other current assets
30.3

33.4
                Total current assets
214.7

211.5
Other assets, net
23.3

22.9
Property and equipment, net of accumulated depreciation of $1,163.0 and $1,007.5, respectively
1,633.4

1,649.9
Goodwill
1,173.9

1,173.5
Other intangible assets, net of accumulated amortization of $210.7 and $185.6, respectively 324.6 364.5 
324.6

364.5
        Total assets
3,369.9

3,422.3
Liabilities and Stockholders’ Equity




Current liabilities




        Accounts payable
86.5

98.1
        Accrued expenses
109.8

135.7
        Deferred revenue
62.5

63.1
        Current maturities of landfill retirement obligations
29.3

30.2
        Current maturities of long-term debt
36.5

49.1
                Total current liabilities
324.6

376.2
Other long-term liabilities
54.2

55.8
Long-term debt, less current maturities
1,887.0

2,198.0
Accrued landfill retirement obligations, less current maturities
161.8

163.5
Deferred income taxes
112.8

139.0
        Total liabilities
2,540.4

2,932.5
Stockholders’ equity




        Common stock: $.01 par value, 1,000,000,000 shares authorized, 88,034,813 and 64,493,536 shares issued and outstanding, respectively
0.8

0.6
Additional paid-in capital
1,470.3

1,100.4
Accumulated deficit
(641.6)


(611.2)
        Total stockholder's equity
829.5 


489.8
        Total liabilities and stockholder's equity
3,369.9

3,422.3



Advanced Disposal Services, Inc. and Subsidiaries
Consolidated Statements of Cash Flows


(In millions of dollars)


Year Ended December31,


2016

2015

2014
Net loss
$ (30.4)

(33.6)

(17.1)
Adjustments to reconcile net loss to net cash provided by operating activities 







         Depreciation and amortization
246.9

259.1


271.7
        Other accretion and amortization   4.0      4.2     4.3
        Amortization of debt issuance costs and original issue discount
17.5

19.5

20.0
        Loss on debt extinguishments and modifications
64.7



        Accretion on landfill retirement obligations
13.0

13.1

13.5
        Provision for doubtful accounts
3.7

4.0

4.2
        Loss on disposition of property and equipment
3.5

4.7

0.8
        Gain on redemption of security



(2.5)


        Stock based compensation
6.3

3.1


4.5
        Change in fair value of derivative instruments
(18.5)

(11.1)


27.3
        Amortization of other long-term assets





0.3
        Deferred tax benefit
(26.5)

(21.6)


(84.5)
        Earnings in equity investee
(1.8)

(1.3)


(0.1)
        Impairment of assets
 


6.4


5.3
        (Gain) Loss on disposition of business
(1.7)

10.5



Changes in operating assets and liabilities, net of businesses acquired 







         (Increase) decrease in accounts receivable
(8.8)

8.3


1.7
        Decrease in prepaid expenses and other current assets
2.8

1.1


1.3
        Decrease in other assets
1.8

3.9

2.9
        (Decrease) increase in accounts payable
(0.9)

(2.8)

3.8
        (Decrease) increase in accrued expenses
(14.3)

3.9

(6.6)
        Decrease in unearned revenue
(1.0)

(0.5)

(1.7)
        (Decrease) increase in other long-term liabilities
(3.4)


(3.5)


5.4
        Capping, closure and post-closure expenditures
(19.9)

(20.4)


(13.8)
                Net cash provided by operating activities
237.0

244.5


243.2
Cash flows from investing activities







Purchases of property and equipment and construction and development
(171.0)

(179.7)


(196.4)
Proceeds from sale of property and equipment
3.3

2.6


3.0
Proceeds from redemption of securities
 


15.0


Acquisition of businesses
(5.4)

(50.0)


(9.9)
Proceeds from disposition of businesses
2.5

14.7


2.1
        Net cash used in investing activities
(170.6)

(197.4)


(201.2)
Cash flows from financing activities







Proceeds from borrowings on debt instruments
782.2

114.0


95.0
Repayments on debt instruments including capital leases
(1,164.4)

(153.4)


(141.3)
Bank overdraft
(2.6)

1.2


1.4
Proceeds from issuance of common stock    375.6      
      
Costs associated with issuance of common stock   (1.9)               
Costs associated with debt extinguishments and modifications   (50.9)      (0.2)      (1.3) 
Proceeds from stock option exercises     17.4      
     
Return of capital to former parent
(21.8)

(7.1)


(9.0)
Other financing activities



(2.0)


2.2
        Net cash used in financing activities
(65.8)

(47.5)


(53.0)
        Net increase (decrease) in cash and cash equivalents
0.6

(0.4)


(11.0)
Cash and cash equivalents, beginning of year
0.6

1.0


12.0
Cash and cash equivalents, end of year
1.2

0.6


1.0

Contact Us

Matthew Nelson

(904) 737-7900

Email us now

About Advanced Disposal

Advanced Disposal brings fresh ideas and solutions to the business of a clean environment. As the fourth largest solid waste company in the U.S., we provide integrated, non-hazardous solid waste collection, recycling and disposal services to residential, commercial, industrial and construction customers across 16 states and the Bahamas. Our team is dedicated to finding effective, sustainable solutions to preserve the environment for future generations.

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