COVANTA HOLDING CORP (CVA) [Rocket]

In millions, except per share items	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15	Dec-31-14	Dec-31-13
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
United States	1,832.0	1,800.0	1,785.0	1,705.0	1,677.0	1,589.0	1,567.0	1,478.0
Other	72.0	70.0	83.0	47.0	22.0	56.0	115.0	152.0
Total revenues [+]	1,904.0	1,870.0	1,868.0	1,752.0	1,699.0	1,645.0	1,682.0	1,630.0
Net interest income						5.0
Other						59.0	97.0	118.0
Revenue growth [+]	1.8%	0.1%	6.6%	3.1%	3.3%	-2.2%	3.2%	-0.8%
United States	1.8%	0.8%	4.7%	1.7%	5.5%	1.4%	6.0%	-2.4%
Cost of goods sold [+]	1,472.0	1,435.0	1,386.0	1,322.0	1,263.0	273.0	102.0	100.0
Other cost of sales							101.0	97.0
Depreciation and amortization						198.0
Other direct costs	52.0	64.0	65.0	51.0	86.0	73.0
Gross profit	432.0	435.0	482.0	430.0	436.0	1,372.0	1,580.0	1,530.0
Gross margin	22.7%	23.3%	25.8%	24.5%	25.7%	83.4%	93.9%	93.9%
Selling, general and administrative	120.0	122.0	115.0	112.0	100.0	93.0	97.0	82.0
General and administrative expenses								82.0
Rent expense								17.0
Equity in earnings	4.0	6.0	6.0	1.0	4.0	13.0	10.0	6.0
Other operating expenses						1,127.0	1,265.0	1,002.0
EBITDA [+]	316.0	319.0	373.0	319.0	340.0	363.0	439.0	452.0
EBITDA growth	-0.9%	-14.5%	16.9%	-6.2%	-6.3%	-17.3%	-2.9%	6.6%
EBITDA margin	16.6%	17.1%	20.0%	18.2%	20.0%	22.1%	26.1%	27.7%
Depreciation and amortization	224.0	221.0	218.0	215.0	207.0	198.0	211.0	209.0
EBIT [+]	92.0	98.0	155.0	104.0	133.0	165.0	228.0	243.0
EBIT growth	-6.1%	-36.8%	49.0%	-21.8%	-19.4%	-27.6%	-6.2%	5.7%
EBIT margin	4.8%	5.2%	8.3%	5.9%	7.8%	10.0%	13.6%	14.9%
Non-recurring items [+]	19.0	2.0	86.0	2.0	20.0	43.0	64.0	15.0
Asset impairment	19.0	2.0	86.0	2.0	20.0	43.0	64.0
Unusual expense								15.0
Interest expense, net [+]	133.0	143.0	145.0	147.0	138.0	134.0	134.0	118.0
Interest expense	133.0	143.0	145.0	147.0	138.0	134.0	135.0	118.0
Interest income							1.0
Other income (expense), net [+]	10.0	44.0	193.0	-90.0	39.0	-16.0	-26.0	-31.0
Gain (loss) on sale of assets	26.0	49.0	217.0	-6.0	44.0
Gain (loss) on debt retirement	-12.0		-15.0	-84.0		-2.0	-2.0	-1.0
Other		1.0	-3.0	1.0	-1.0	-1.0		4.0
Pre-tax income	-50.0	-3.0	117.0	-135.0	14.0	-28.0	4.0	79.0
Income taxes	-18.0	-7.0	-29.0	-191.0	22.0	-84.0	-15.0	-43.0
Tax rate	36.0%	233.3%		141.5%	157.1%	300.0%
Minority interest						1.0	1.0
Earnings from continuing ops	-28.0	10.0	152.0	57.0	-4.0	68.0	-2.0	84.0
Earnings from discontinued ops								-52.0
Net income	-28.0	10.0	152.0	57.0	-4.0	68.0	-2.0	32.0
Net margin	-1.5%	0.5%	8.1%	3.3%	-0.2%	4.1%	-0.1%	2.0%

Basic EPS [+]	($0.21)	$0.08	$1.17	$0.44	($0.03)	$0.52	($0.02)	$0.65
Growth	-377.9%	-93.5%	166.7%	-1514.0%	-106.0%	-3448.5%	-102.4%	-68.9%
Diluted EPS [+]	($0.21)	$0.08	$1.15	$0.44	($0.03)	$0.51	($0.02)	$0.65
Growth	-382.1%	-93.5%	164.6%	-1503.2%	-106.1%	-3423.3%	-102.4%	-68.9%

Dividends per share [+]	$0.49	$1.00	$1.00	$1.00	$1.00	$1.00	$0.86	$0.66
Growth	-51.0%	0.0%	0.0%	0.0%	0.0%	16.3%	30.3%	10.0%

Shares outstanding (basic) [+]	132.0	131.0	130.0	130.0	129.0	132.0	130.0	129.0
Growth	0.8%	0.8%	0.0%	0.8%	-2.3%	1.5%	0.8%	-2.3%
Shares outstanding (diluted) [+]	132.0	133.0	132.0	131.0	129.0	133.0	130.0	130.0
Growth	-0.8%	0.8%	0.8%	1.6%	-3.0%	2.3%	0.0%	-2.3%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.