Waste Connections US, Inc. (WCN) [Rocket]

In millions, except per share items	Dec-31-15	Dec-31-14	Dec-31-13	Dec-31-12	Dec-31-11	Dec-31-10	Dec-31-09	Dec-31-08
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Solid waste collection	1,378.7	1,289.9	1,219.1	1,176.3	1,069.1
Western	984.3	920.1	905.8	882.2	841.0		718.3	529.5
Solid waste disposal and transfer	670.4	617.2	579.4	524.9	497.6
Central	660.9	629.6	573.4	517.9	471.4		398.4	281.5
Other							74.7	238.5
Total revenues	2,117.3	2,079.2	1,928.8	1,661.6	1,505.4	1,319.8	1,191.4	1,049.6
Revenue growth [+]	1.8%	7.8%	16.1%	10.4%	14.1%	10.8%	13.5%	9.5%
Solid waste collection	6.9%	5.8%	3.6%	10.0%
Western	7.0%	1.6%	2.7%	4.9%			35.6%	10.9%
Solid waste disposal and transfer	8.6%	6.5%	10.4%	5.5%
Central	5.0%	9.8%	10.7%	9.9%			41.5%	9.5%
Eastern	9.9%	5.8%	1.3%	10.2%
Cost of goods sold	1,177.4	1,138.4	1,064.8	956.4	857.6	749.5	692.4	628.1
Gross profit	939.9	940.8	864.0	705.3	647.8	570.3	499.0	421.5
Gross margin	44.4%	45.2%	44.8%	42.4%	43.0%	43.2%	41.9%	40.2%
Selling, general and administrative	237.5	229.5	212.6	197.5	162.0	149.9	138.0	111.1
Other operating expenses	763.9	263.1	257.9	191.7	167.1	147.5	130.8	97.4
EBITDA [+]	207.9	706.1	637.3	509.7	485.8	420.4	361.0	310.4
EBITDA growth	-70.6%	10.8%	25.0%	4.9%	15.6%	16.5%	16.3%	6.0%
EBITDA margin	9.8%	34.0%	33.0%	30.7%	32.3%	31.9%	30.3%	29.6%
Depreciation	240.4	230.9	218.5	169.0	147.0	132.9	117.8	91.1
EBITA	-32.5	475.2	418.9	340.7	338.8	287.5	243.2	219.3
EBITA margin	-1.5%	22.9%	21.7%	20.5%	22.5%	21.8%	20.4%	20.9%
Amortization of intangibles	29.1	27.0	25.4	24.6	20.1	14.6	13.0	6.3
EBIT [+]	-61.5	448.2	393.4	316.1	318.7	273.0	230.2	213.0
EBIT growth	-113.7%	13.9%	24.4%	-0.8%	16.8%	18.6%	8.1%	2.8%
EBIT margin	-2.9%	21.6%	20.4%	19.0%	21.2%	20.7%	19.3%	20.3%
Non-recurring items [+]		-1.1			1.7	0.6	-0.5	0.6
Loss (gain) on sale of assets					1.7	0.6	-0.5	0.6
Legal settlement				-3.6
Interest expense, net [+]	64.2	64.7	73.6	53.0	44.5	39.5	47.7	39.8
Interest expense	64.2	64.7	73.6	53.0	44.5	40.1	49.2	43.1
Interest income						0.6	1.4	3.3
Other income (expense), net [+]	-0.5	1.1	1.1	2.0	0.6	-7.4	-7.6	-0.6
Gain (loss) on debt retirement			9.9			-10.2
Other	-0.5	1.1	1.1	2.0	0.6	2.8	-7.6	-0.6
Pre-tax income	-126.3	385.7	320.9	265.1	273.1	225.5	175.4	171.9
Income taxes	-31.6	152.3	124.9	105.4	107.0	89.3	64.6	56.8
Tax rate	25.0%	39.5%	38.9%	39.8%	39.2%	39.6%	36.8%	33.0%
Minority interest	1.1	0.8	0.4	0.6	0.9	1.0	1.0	12.2
Net income	-95.8	232.5	195.7	159.1	165.2	135.1	109.8	102.9
Net margin	-4.5%	11.2%	10.1%	9.6%	11.0%	10.2%	9.2%	9.8%

Basic EPS [+]	($0.78)	$1.87	$1.58	$1.31	$1.47	$1.17	$0.92	$0.98
Growth	-141.4%	18.3%	20.6%	-10.4%	25.5%	26.7%	-5.9%	-40.0%
Diluted EPS [+]	($0.78)	$1.86	$1.58	$1.31	$1.45	$1.16	$0.91	$0.96
Growth	-141.6%	18.3%	20.7%	-10.2%	25.9%	26.8%	-5.1%	-39.6%

Dividends per share [+]	$0.54	$0.48	$0.42	$0.37	$0.32	$0.08
Growth	12.6%	14.5%	12.2%	17.5%	320.0%

Shares outstanding (basic) [+]	123.5	124.2	123.6	121.2	112.7	115.6	119.1	105.0
Growth	-0.6%	0.5%	2.0%	7.5%	-2.5%	-2.9%	13.4%	53.9%
Shares outstanding (diluted) [+]	123.5	124.8	124.2	121.8	113.6	116.9	120.5	107.1
Growth	-1.0%	0.5%	1.9%	7.3%	-2.8%	-3.0%	12.5%	53.1%

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