cwst-20230630
000091117712-312023Q2FALSEhttp://fasb.org/us-gaap/2023#LongTermDebtAndCapitalLeaseObligationshttp://fasb.org/us-gaap/2023#LongTermDebtAndCapitalLeaseObligations00009111772023-01-012023-06-300000911177us-gaap:CommonClassAMember2023-07-15xbrli:shares0000911177us-gaap:CommonClassBMember2023-07-1500009111772023-06-30iso4217:USD00009111772022-12-310000911177us-gaap:CommonClassAMember2023-06-30iso4217:USDxbrli:shares0000911177us-gaap:CommonClassAMember2022-12-310000911177us-gaap:CommonClassBMember2022-12-310000911177us-gaap:CommonClassBMember2023-06-300000911177us-gaap:CommonClassBMember2022-01-012022-12-31cwst:vote0000911177us-gaap:CommonClassBMember2023-01-012023-06-3000009111772023-04-012023-06-3000009111772022-04-012022-06-3000009111772022-01-012022-06-300000911177us-gaap:CommonStockMemberus-gaap:CommonClassAMember2022-12-310000911177us-gaap:CommonStockMemberus-gaap:CommonClassBMember2022-12-310000911177us-gaap:AdditionalPaidInCapitalMember2022-12-310000911177us-gaap:RetainedEarningsMember2022-12-310000911177us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-3100009111772023-01-012023-03-310000911177us-gaap:CommonStockMemberus-gaap:CommonClassAMember2023-01-012023-03-310000911177us-gaap:AdditionalPaidInCapitalMember2023-01-012023-03-310000911177us-gaap:RetainedEarningsMember2023-01-012023-03-310000911177us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-03-3100009111772023-03-310000911177us-gaap:CommonStockMemberus-gaap:CommonClassAMember2023-03-310000911177us-gaap:CommonStockMemberus-gaap:CommonClassBMember2023-03-310000911177us-gaap:AdditionalPaidInCapitalMember2023-03-310000911177us-gaap:RetainedEarningsMember2023-03-310000911177us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-03-310000911177us-gaap:CommonStockMemberus-gaap:CommonClassAMember2023-04-012023-06-300000911177us-gaap:AdditionalPaidInCapitalMember2023-04-012023-06-300000911177us-gaap:RetainedEarningsMember2023-04-012023-06-300000911177us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-04-012023-06-300000911177us-gaap:CommonStockMemberus-gaap:CommonClassAMember2023-06-300000911177us-gaap:CommonStockMemberus-gaap:CommonClassBMember2023-06-300000911177us-gaap:AdditionalPaidInCapitalMember2023-06-300000911177us-gaap:RetainedEarningsMember2023-06-300000911177us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-06-3000009111772021-12-310000911177us-gaap:CommonStockMemberus-gaap:CommonClassAMember2021-12-310000911177us-gaap:CommonStockMemberus-gaap:CommonClassBMember2021-12-310000911177us-gaap:AdditionalPaidInCapitalMember2021-12-310000911177us-gaap:RetainedEarningsMember2021-12-310000911177us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-12-3100009111772022-01-012022-03-310000911177us-gaap:CommonStockMemberus-gaap:CommonClassAMember2022-01-012022-03-310000911177us-gaap:AdditionalPaidInCapitalMember2022-01-012022-03-310000911177us-gaap:RetainedEarningsMember2022-01-012022-03-310000911177us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-03-3100009111772022-03-310000911177us-gaap:CommonStockMemberus-gaap:CommonClassAMember2022-03-310000911177us-gaap:CommonStockMemberus-gaap:CommonClassBMember2022-03-310000911177us-gaap:AdditionalPaidInCapitalMember2022-03-310000911177us-gaap:RetainedEarningsMember2022-03-310000911177us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-03-310000911177us-gaap:CommonStockMemberus-gaap:CommonClassAMember2022-04-012022-06-300000911177us-gaap:AdditionalPaidInCapitalMember2022-04-012022-06-300000911177us-gaap:RetainedEarningsMember2022-04-012022-06-300000911177us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-04-012022-06-3000009111772022-06-300000911177us-gaap:CommonStockMemberus-gaap:CommonClassAMember2022-06-300000911177us-gaap:CommonStockMemberus-gaap:CommonClassBMember2022-06-300000911177us-gaap:AdditionalPaidInCapitalMember2022-06-300000911177us-gaap:RetainedEarningsMember2022-06-300000911177us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-06-30cwst:state00009111772023-06-302023-06-30cwst:subsidiary0000911177cwst:EasternRegionMembercwst:CollectionMember2023-04-012023-06-300000911177cwst:WesternRegionMembercwst:CollectionMember2023-04-012023-06-300000911177cwst:MidAtlanticRegionMembercwst:CollectionMember2023-04-012023-06-300000911177cwst:ResourceSolutionsRegionMembercwst:CollectionMember2023-04-012023-06-300000911177cwst:CollectionMember2023-04-012023-06-300000911177cwst:EasternRegionMembercwst:LandfillRevenueMember2023-04-012023-06-300000911177cwst:WesternRegionMembercwst:LandfillRevenueMember2023-04-012023-06-300000911177cwst:MidAtlanticRegionMembercwst:LandfillRevenueMember2023-04-012023-06-300000911177cwst:ResourceSolutionsRegionMembercwst:LandfillRevenueMember2023-04-012023-06-300000911177cwst:LandfillRevenueMember2023-04-012023-06-300000911177cwst:TransferStationMembercwst:EasternRegionMember2023-04-012023-06-300000911177cwst:TransferStationMembercwst:WesternRegionMember2023-04-012023-06-300000911177cwst:TransferStationMembercwst:MidAtlanticRegionMember2023-04-012023-06-300000911177cwst:TransferStationMembercwst:ResourceSolutionsRegionMember2023-04-012023-06-300000911177cwst:TransferStationMember2023-04-012023-06-300000911177cwst:TransportationMembercwst:EasternRegionMember2023-04-012023-06-300000911177cwst:TransportationMembercwst:WesternRegionMember2023-04-012023-06-300000911177cwst:MidAtlanticRegionMembercwst:TransportationMember2023-04-012023-06-300000911177cwst:TransportationMembercwst:ResourceSolutionsRegionMember2023-04-012023-06-300000911177cwst:TransportationMember2023-04-012023-06-300000911177cwst:LandfillGasToEnergyMembercwst:EasternRegionMember2023-04-012023-06-300000911177cwst:LandfillGasToEnergyMembercwst:WesternRegionMember2023-04-012023-06-300000911177cwst:MidAtlanticRegionMembercwst:LandfillGasToEnergyMember2023-04-012023-06-300000911177cwst:LandfillGasToEnergyMembercwst:ResourceSolutionsRegionMember2023-04-012023-06-300000911177cwst:LandfillGasToEnergyMember2023-04-012023-06-300000911177cwst:ProcessingServicesMembercwst:EasternRegionMember2023-04-012023-06-300000911177cwst:ProcessingServicesMembercwst:WesternRegionMember2023-04-012023-06-300000911177cwst:MidAtlanticRegionMembercwst:ProcessingServicesMember2023-04-012023-06-300000911177cwst:ProcessingServicesMembercwst:ResourceSolutionsRegionMember2023-04-012023-06-300000911177cwst:ProcessingServicesMember2023-04-012023-06-300000911177cwst:NationalAccountsMembercwst:EasternRegionMember2023-04-012023-06-300000911177cwst:WesternRegionMembercwst:NationalAccountsMember2023-04-012023-06-300000911177cwst:MidAtlanticRegionMembercwst:NationalAccountsMember2023-04-012023-06-300000911177cwst:ResourceSolutionsRegionMembercwst:NationalAccountsMember2023-04-012023-06-300000911177cwst:NationalAccountsMember2023-04-012023-06-300000911177cwst:EasternRegionMember2023-04-012023-06-300000911177cwst:WesternRegionMember2023-04-012023-06-300000911177cwst:MidAtlanticRegionMember2023-04-012023-06-300000911177cwst:ResourceSolutionsRegionMember2023-04-012023-06-300000911177us-gaap:TransferredAtPointInTimeMembercwst:EasternRegionMember2023-04-012023-06-300000911177us-gaap:TransferredAtPointInTimeMembercwst:WesternRegionMember2023-04-012023-06-300000911177cwst:MidAtlanticRegionMemberus-gaap:TransferredAtPointInTimeMember2023-04-012023-06-300000911177cwst:ResourceSolutionsRegionMemberus-gaap:TransferredAtPointInTimeMember2023-04-012023-06-300000911177us-gaap:TransferredAtPointInTimeMember2023-04-012023-06-300000911177us-gaap:TransferredOverTimeMembercwst:EasternRegionMember2023-04-012023-06-300000911177us-gaap:TransferredOverTimeMembercwst:WesternRegionMember2023-04-012023-06-300000911177cwst:MidAtlanticRegionMemberus-gaap:TransferredOverTimeMember2023-04-012023-06-300000911177us-gaap:TransferredOverTimeMembercwst:ResourceSolutionsRegionMember2023-04-012023-06-300000911177us-gaap:TransferredOverTimeMember2023-04-012023-06-300000911177cwst:EasternRegionMembercwst:CollectionMember2022-04-012022-06-300000911177cwst:WesternRegionMembercwst:CollectionMember2022-04-012022-06-300000911177cwst:MidAtlanticRegionMembercwst:CollectionMember2022-04-012022-06-300000911177cwst:ResourceSolutionsRegionMembercwst:CollectionMember2022-04-012022-06-300000911177cwst:CollectionMember2022-04-012022-06-300000911177cwst:EasternRegionMembercwst:LandfillRevenueMember2022-04-012022-06-300000911177cwst:WesternRegionMembercwst:LandfillRevenueMember2022-04-012022-06-300000911177cwst:MidAtlanticRegionMembercwst:LandfillRevenueMember2022-04-012022-06-300000911177cwst:ResourceSolutionsRegionMembercwst:LandfillRevenueMember2022-04-012022-06-300000911177cwst:LandfillRevenueMember2022-04-012022-06-300000911177cwst:TransferStationMembercwst:EasternRegionMember2022-04-012022-06-300000911177cwst:TransferStationMembercwst:WesternRegionMember2022-04-012022-06-300000911177cwst:TransferStationMembercwst:MidAtlanticRegionMember2022-04-012022-06-300000911177cwst:TransferStationMembercwst:ResourceSolutionsRegionMember2022-04-012022-06-300000911177cwst:TransferStationMember2022-04-012022-06-300000911177cwst:TransportationMembercwst:EasternRegionMember2022-04-012022-06-300000911177cwst:TransportationMembercwst:WesternRegionMember2022-04-012022-06-300000911177cwst:MidAtlanticRegionMembercwst:TransportationMember2022-04-012022-06-300000911177cwst:TransportationMembercwst:ResourceSolutionsRegionMember2022-04-012022-06-300000911177cwst:TransportationMember2022-04-012022-06-300000911177cwst:LandfillGasToEnergyMembercwst:EasternRegionMember2022-04-012022-06-300000911177cwst:LandfillGasToEnergyMembercwst:WesternRegionMember2022-04-012022-06-300000911177cwst:MidAtlanticRegionMembercwst:LandfillGasToEnergyMember2022-04-012022-06-300000911177cwst:LandfillGasToEnergyMembercwst:ResourceSolutionsRegionMember2022-04-012022-06-300000911177cwst:LandfillGasToEnergyMember2022-04-012022-06-300000911177cwst:ProcessingServicesMembercwst:EasternRegionMember2022-04-012022-06-300000911177cwst:ProcessingServicesMembercwst:WesternRegionMember2022-04-012022-06-300000911177cwst:MidAtlanticRegionMembercwst:ProcessingServicesMember2022-04-012022-06-300000911177cwst:ProcessingServicesMembercwst:ResourceSolutionsRegionMember2022-04-012022-06-300000911177cwst:ProcessingServicesMember2022-04-012022-06-300000911177cwst:NationalAccountsMembercwst:EasternRegionMember2022-04-012022-06-300000911177cwst:WesternRegionMembercwst:NationalAccountsMember2022-04-012022-06-300000911177cwst:MidAtlanticRegionMembercwst:NationalAccountsMember2022-04-012022-06-300000911177cwst:ResourceSolutionsRegionMembercwst:NationalAccountsMember2022-04-012022-06-300000911177cwst:NationalAccountsMember2022-04-012022-06-300000911177cwst:EasternRegionMember2022-04-012022-06-300000911177cwst:WesternRegionMember2022-04-012022-06-300000911177cwst:MidAtlanticRegionMember2022-04-012022-06-300000911177cwst:ResourceSolutionsRegionMember2022-04-012022-06-300000911177us-gaap:TransferredAtPointInTimeMembercwst:EasternRegionMember2022-04-012022-06-300000911177us-gaap:TransferredAtPointInTimeMembercwst:WesternRegionMember2022-04-012022-06-300000911177cwst:MidAtlanticRegionMemberus-gaap:TransferredAtPointInTimeMember2022-04-012022-06-300000911177cwst:ResourceSolutionsRegionMemberus-gaap:TransferredAtPointInTimeMember2022-04-012022-06-300000911177us-gaap:TransferredAtPointInTimeMember2022-04-012022-06-300000911177us-gaap:TransferredOverTimeMembercwst:EasternRegionMember2022-04-012022-06-300000911177us-gaap:TransferredOverTimeMembercwst:WesternRegionMember2022-04-012022-06-300000911177cwst:MidAtlanticRegionMemberus-gaap:TransferredOverTimeMember2022-04-012022-06-300000911177us-gaap:TransferredOverTimeMembercwst:ResourceSolutionsRegionMember2022-04-012022-06-300000911177us-gaap:TransferredOverTimeMember2022-04-012022-06-300000911177cwst:EasternRegionMembercwst:CollectionMember2023-01-012023-06-300000911177cwst:WesternRegionMembercwst:CollectionMember2023-01-012023-06-300000911177cwst:MidAtlanticRegionMembercwst:CollectionMember2023-01-012023-06-300000911177cwst:ResourceSolutionsRegionMembercwst:CollectionMember2023-01-012023-06-300000911177cwst:CollectionMember2023-01-012023-06-300000911177cwst:EasternRegionMembercwst:LandfillRevenueMember2023-01-012023-06-300000911177cwst:WesternRegionMembercwst:LandfillRevenueMember2023-01-012023-06-300000911177cwst:MidAtlanticRegionMembercwst:LandfillRevenueMember2023-01-012023-06-300000911177cwst:ResourceSolutionsRegionMembercwst:LandfillRevenueMember2023-01-012023-06-300000911177cwst:LandfillRevenueMember2023-01-012023-06-300000911177cwst:TransferStationMembercwst:EasternRegionMember2023-01-012023-06-300000911177cwst:TransferStationMembercwst:WesternRegionMember2023-01-012023-06-300000911177cwst:TransferStationMembercwst:MidAtlanticRegionMember2023-01-012023-06-300000911177cwst:TransferStationMembercwst:ResourceSolutionsRegionMember2023-01-012023-06-300000911177cwst:TransferStationMember2023-01-012023-06-300000911177cwst:TransportationMembercwst:EasternRegionMember2023-01-012023-06-300000911177cwst:TransportationMembercwst:WesternRegionMember2023-01-012023-06-300000911177cwst:MidAtlanticRegionMembercwst:TransportationMember2023-01-012023-06-300000911177cwst:TransportationMembercwst:ResourceSolutionsRegionMember2023-01-012023-06-300000911177cwst:TransportationMember2023-01-012023-06-300000911177cwst:LandfillGasToEnergyMembercwst:EasternRegionMember2023-01-012023-06-300000911177cwst:LandfillGasToEnergyMembercwst:WesternRegionMember2023-01-012023-06-300000911177cwst:MidAtlanticRegionMembercwst:LandfillGasToEnergyMember2023-01-012023-06-300000911177cwst:LandfillGasToEnergyMembercwst:ResourceSolutionsRegionMember2023-01-012023-06-300000911177cwst:LandfillGasToEnergyMember2023-01-012023-06-300000911177cwst:ProcessingServicesMembercwst:EasternRegionMember2023-01-012023-06-300000911177cwst:ProcessingServicesMembercwst:WesternRegionMember2023-01-012023-06-300000911177cwst:MidAtlanticRegionMembercwst:ProcessingServicesMember2023-01-012023-06-300000911177cwst:ProcessingServicesMembercwst:ResourceSolutionsRegionMember2023-01-012023-06-300000911177cwst:ProcessingServicesMember2023-01-012023-06-300000911177cwst:NationalAccountsMembercwst:EasternRegionMember2023-01-012023-06-300000911177cwst:WesternRegionMembercwst:NationalAccountsMember2023-01-012023-06-300000911177cwst:MidAtlanticRegionMembercwst:NationalAccountsMember2023-01-012023-06-300000911177cwst:ResourceSolutionsRegionMembercwst:NationalAccountsMember2023-01-012023-06-300000911177cwst:NationalAccountsMember2023-01-012023-06-300000911177cwst:EasternRegionMember2023-01-012023-06-300000911177cwst:WesternRegionMember2023-01-012023-06-300000911177cwst:MidAtlanticRegionMember2023-01-012023-06-300000911177cwst:ResourceSolutionsRegionMember2023-01-012023-06-300000911177us-gaap:TransferredAtPointInTimeMembercwst:EasternRegionMember2023-01-012023-06-300000911177us-gaap:TransferredAtPointInTimeMembercwst:WesternRegionMember2023-01-012023-06-300000911177cwst:MidAtlanticRegionMemberus-gaap:TransferredAtPointInTimeMember2023-01-012023-06-300000911177cwst:ResourceSolutionsRegionMemberus-gaap:TransferredAtPointInTimeMember2023-01-012023-06-300000911177us-gaap:TransferredAtPointInTimeMember2023-01-012023-06-300000911177us-gaap:TransferredOverTimeMembercwst:EasternRegionMember2023-01-012023-06-300000911177us-gaap:TransferredOverTimeMembercwst:WesternRegionMember2023-01-012023-06-300000911177cwst:MidAtlanticRegionMemberus-gaap:TransferredOverTimeMember2023-01-012023-06-300000911177us-gaap:TransferredOverTimeMembercwst:ResourceSolutionsRegionMember2023-01-012023-06-300000911177us-gaap:TransferredOverTimeMember2023-01-012023-06-300000911177cwst:EasternRegionMembercwst:CollectionMember2022-01-012022-06-300000911177cwst:WesternRegionMembercwst:CollectionMember2022-01-012022-06-300000911177cwst:MidAtlanticRegionMembercwst:CollectionMember2022-01-012022-06-300000911177cwst:ResourceSolutionsRegionMembercwst:CollectionMember2022-01-012022-06-300000911177cwst:CollectionMember2022-01-012022-06-300000911177cwst:EasternRegionMembercwst:LandfillRevenueMember2022-01-012022-06-300000911177cwst:WesternRegionMembercwst:LandfillRevenueMember2022-01-012022-06-300000911177cwst:MidAtlanticRegionMembercwst:LandfillRevenueMember2022-01-012022-06-300000911177cwst:ResourceSolutionsRegionMembercwst:LandfillRevenueMember2022-01-012022-06-300000911177cwst:LandfillRevenueMember2022-01-012022-06-300000911177cwst:TransferStationMembercwst:EasternRegionMember2022-01-012022-06-300000911177cwst:TransferStationMembercwst:WesternRegionMember2022-01-012022-06-300000911177cwst:TransferStationMembercwst:MidAtlanticRegionMember2022-01-012022-06-300000911177cwst:TransferStationMembercwst:ResourceSolutionsRegionMember2022-01-012022-06-300000911177cwst:TransferStationMember2022-01-012022-06-300000911177cwst:TransportationMembercwst:EasternRegionMember2022-01-012022-06-300000911177cwst:TransportationMembercwst:WesternRegionMember2022-01-012022-06-300000911177cwst:MidAtlanticRegionMembercwst:TransportationMember2022-01-012022-06-300000911177cwst:TransportationMembercwst:ResourceSolutionsRegionMember2022-01-012022-06-300000911177cwst:TransportationMember2022-01-012022-06-300000911177cwst:LandfillGasToEnergyMembercwst:EasternRegionMember2022-01-012022-06-300000911177cwst:LandfillGasToEnergyMembercwst:WesternRegionMember2022-01-012022-06-300000911177cwst:MidAtlanticRegionMembercwst:LandfillGasToEnergyMember2022-01-012022-06-300000911177cwst:LandfillGasToEnergyMembercwst:ResourceSolutionsRegionMember2022-01-012022-06-300000911177cwst:LandfillGasToEnergyMember2022-01-012022-06-300000911177cwst:ProcessingServicesMembercwst:EasternRegionMember2022-01-012022-06-300000911177cwst:ProcessingServicesMembercwst:WesternRegionMember2022-01-012022-06-300000911177cwst:MidAtlanticRegionMembercwst:ProcessingServicesMember2022-01-012022-06-300000911177cwst:ProcessingServicesMembercwst:ResourceSolutionsRegionMember2022-01-012022-06-300000911177cwst:ProcessingServicesMember2022-01-012022-06-300000911177cwst:NationalAccountsMembercwst:EasternRegionMember2022-01-012022-06-300000911177cwst:WesternRegionMembercwst:NationalAccountsMember2022-01-012022-06-300000911177cwst:MidAtlanticRegionMembercwst:NationalAccountsMember2022-01-012022-06-300000911177cwst:ResourceSolutionsRegionMembercwst:NationalAccountsMember2022-01-012022-06-300000911177cwst:NationalAccountsMember2022-01-012022-06-300000911177cwst:EasternRegionMember2022-01-012022-06-300000911177cwst:WesternRegionMember2022-01-012022-06-300000911177cwst:MidAtlanticRegionMember2022-01-012022-06-300000911177cwst:ResourceSolutionsRegionMember2022-01-012022-06-300000911177us-gaap:TransferredAtPointInTimeMembercwst:EasternRegionMember2022-01-012022-06-300000911177us-gaap:TransferredAtPointInTimeMembercwst:WesternRegionMember2022-01-012022-06-300000911177cwst:MidAtlanticRegionMemberus-gaap:TransferredAtPointInTimeMember2022-01-012022-06-300000911177cwst:ResourceSolutionsRegionMemberus-gaap:TransferredAtPointInTimeMember2022-01-012022-06-300000911177us-gaap:TransferredAtPointInTimeMember2022-01-012022-06-300000911177us-gaap:TransferredOverTimeMembercwst:EasternRegionMember2022-01-012022-06-300000911177us-gaap:TransferredOverTimeMembercwst:WesternRegionMember2022-01-012022-06-300000911177cwst:MidAtlanticRegionMemberus-gaap:TransferredOverTimeMember2022-01-012022-06-300000911177us-gaap:TransferredOverTimeMembercwst:ResourceSolutionsRegionMember2022-01-012022-06-300000911177us-gaap:TransferredOverTimeMember2022-01-012022-06-300000911177cwst:RebateRecycledOrReturnedOrganicMaterialsMember2023-04-012023-06-300000911177cwst:RebateRecycledOrReturnedOrganicMaterialsMember2023-01-012023-06-300000911177cwst:RebateRecycledOrReturnedOrganicMaterialsMember2022-04-012022-06-300000911177cwst:RebateRecycledOrReturnedOrganicMaterialsMember2022-01-012022-06-300000911177cwst:TwinBridgesAcquisitionMember2023-06-012023-06-300000911177cwst:TwinBridgesAcquisitionMembercwst:CollectionMember2023-06-012023-06-30cwst:service_line0000911177cwst:TransferStationMembercwst:TwinBridgesAcquisitionMember2023-06-012023-06-300000911177cwst:MaterialRecoveryFacilityMembercwst:TwinBridgesAcquisitionMember2023-06-012023-06-30cwst:property0000911177srt:OfficeBuildingMembercwst:TwinBridgesAcquisitionMember2023-06-012023-06-30cwst:business0000911177srt:MinimumMember2023-06-300000911177srt:MaximumMember2023-06-300000911177cwst:TransferStationsAcquisitionMember2023-01-012023-06-300000911177cwst:TransferStationsAcquisitionMember2022-01-012022-06-300000911177cwst:TransferStationsAcquisitionMember2023-06-300000911177cwst:TransferStationsAcquisitionMember2022-06-300000911177cwst:TransferStationsAcquisitionMemberus-gaap:NoncompeteAgreementsMember2023-06-300000911177cwst:TransferStationsAcquisitionMemberus-gaap:NoncompeteAgreementsMember2022-06-300000911177us-gaap:CustomerRelationshipsMembercwst:TransferStationsAcquisitionMember2023-06-300000911177us-gaap:CustomerRelationshipsMembercwst:TransferStationsAcquisitionMember2022-06-300000911177cwst:EasternRegionMember2022-12-310000911177cwst:EasternRegionMember2023-06-300000911177cwst:WesternRegionMember2022-12-310000911177cwst:WesternRegionMember2023-06-300000911177cwst:MidAtlanticRegionMember2022-12-310000911177cwst:MidAtlanticRegionMember2023-06-300000911177cwst:ResourceSolutionsRegionMember2022-12-310000911177cwst:ResourceSolutionsRegionMember2023-06-300000911177us-gaap:NoncompeteAgreementsMember2023-06-300000911177us-gaap:CustomerRelationshipsMember2023-06-300000911177us-gaap:TradeNamesMember2023-06-300000911177us-gaap:NoncompeteAgreementsMember2022-12-310000911177us-gaap:CustomerRelationshipsMember2022-12-310000911177us-gaap:TradeNamesMember2022-12-310000911177cwst:AmendedTermAFacilityDueDecember2026TermLoanFacilityMemberus-gaap:SecuredDebtMembercwst:SecuredOvernightFinancingRateSOFRMember2023-01-012023-06-30xbrli:pure0000911177cwst:AmendedTermAFacilityDueDecember2026TermLoanFacilityMemberus-gaap:SecuredDebtMember2023-06-300000911177cwst:AmendedTermAFacilityDueDecember2026TermLoanFacilityMemberus-gaap:SecuredDebtMember2022-12-310000911177cwst:A2023TermLoanFacilityDueDecember2026Memberus-gaap:SecuredDebtMembercwst:SecuredOvernightFinancingRateSOFRMember2023-01-012023-06-300000911177cwst:A2023TermLoanFacilityDueDecember2026Memberus-gaap:SecuredDebtMember2023-06-300000911177cwst:A2023TermLoanFacilityDueDecember2026Memberus-gaap:SecuredDebtMember2022-12-310000911177us-gaap:SecuredDebtMembercwst:RevolvingCreditFacilityDueDecember2026Membercwst:SecuredOvernightFinancingRateSOFRMember2023-01-012023-06-300000911177us-gaap:LineOfCreditMembercwst:RevolvingCreditFacilityDueDecember2026Member2023-06-300000911177us-gaap:LineOfCreditMembercwst:RevolvingCreditFacilityDueDecember2026Member2022-12-310000911177cwst:RevenueBondsSeriesTwoThousandFourteenDueTwoThousandFortyFourMemberus-gaap:UnsecuredDebtMember2023-06-300000911177cwst:RevenueBondsSeriesTwoThousandFourteenDueTwoThousandFortyFourMemberus-gaap:UnsecuredDebtMember2022-12-310000911177cwst:RevenueBondSeriesTwoThousandFourteenRTwoDueTwoThousandFortyFourMemberus-gaap:UnsecuredDebtMember2023-06-300000911177cwst:RevenueBondSeriesTwoThousandFourteenRTwoDueTwoThousandFortyFourMemberus-gaap:UnsecuredDebtMember2022-12-310000911177cwst:RevenueBondsSeries2020DueSeptember2050Memberus-gaap:UnsecuredDebtMember2023-06-300000911177cwst:RevenueBondsSeries2020DueSeptember2050Memberus-gaap:UnsecuredDebtMember2022-12-310000911177us-gaap:UnsecuredDebtMembercwst:FinanceAuthorityofMaineSolidWasteDisposalRevenueBondsSeries2005R3FAMEBonds2005R3Member2023-06-300000911177us-gaap:UnsecuredDebtMembercwst:FinanceAuthorityofMaineSolidWasteDisposalRevenueBondsSeries2005R3FAMEBonds2005R3Member2022-12-310000911177cwst:FinanceAuthorityOfMaineSolidWasteDisposalRevenueBondsSeries2015R1Memberus-gaap:UnsecuredDebtMember2023-06-300000911177cwst:FinanceAuthorityOfMaineSolidWasteDisposalRevenueBondsSeries2015R1Memberus-gaap:UnsecuredDebtMember2022-12-310000911177cwst:FinanceAuthorityOfMaineSolidWasteDisposalRevenueBondsSeries2015R2Memberus-gaap:UnsecuredDebtMember2023-06-300000911177cwst:FinanceAuthorityOfMaineSolidWasteDisposalRevenueBondsSeries2015R2Memberus-gaap:UnsecuredDebtMember2022-12-310000911177cwst:LongTermRevenueBondSeriesTwoThousandThirteenDueTwoThousandThirtySixMemberus-gaap:UnsecuredDebtMember2023-06-300000911177cwst:LongTermRevenueBondSeriesTwoThousandThirteenDueTwoThousandThirtySixMemberus-gaap:UnsecuredDebtMember2022-12-310000911177cwst:LongTermRevenueBondsSeries2022A1DueJune2052Memberus-gaap:UnsecuredDebtMember2023-06-300000911177cwst:LongTermRevenueBondsSeries2022A1DueJune2052Memberus-gaap:UnsecuredDebtMember2022-12-310000911177us-gaap:UnsecuredDebtMembercwst:RevenueBondSeriesTwoThousandThirteenDueTwoThousandTwentyNineMember2023-06-300000911177us-gaap:UnsecuredDebtMembercwst:RevenueBondSeriesTwoThousandThirteenDueTwoThousandTwentyNineMember2022-12-310000911177cwst:NotesPayableMember2023-06-300000911177cwst:NotesPayableMember2022-12-310000911177cwst:RevolvingCreditFacilityTermLoanFacilityAnd2023TermLoanFacilityMembercwst:CreditFacilityMember2023-06-300000911177cwst:RevolvingCreditFacilityTermLoanFacilityAnd2023TermLoanFacilityMembercwst:CreditFacilityMember2022-12-310000911177cwst:CreditFacilityMembercwst:SecuredOvernightFinancingRateSOFRMember2023-01-012023-06-300000911177us-gaap:SecuredDebtMember2023-04-300000911177cwst:A2023TermLoanFacilityDueDecember2026Memberus-gaap:SecuredDebtMember2023-05-310000911177cwst:A2023TermLoanFacilityDueDecember2026Memberus-gaap:SecuredDebtMember2023-06-012023-06-300000911177us-gaap:UnsecuredDebtMember2023-06-300000911177us-gaap:LineOfCreditMembercwst:RevolvingCreditFacilityDueDecember2026Memberus-gaap:RevolvingCreditFacilityMember2023-06-300000911177cwst:RevolvingCreditFacilityDueDecember2026Memberus-gaap:LetterOfCreditMemberus-gaap:RevolvingCreditFacilityMember2023-06-300000911177us-gaap:LineOfCreditMember2023-01-012023-06-300000911177us-gaap:BaseRateMembercwst:CreditFacilityMember2023-01-012023-06-300000911177cwst:AmendedTermAFacilityDueDecember2026TermLoanFacilityMemberus-gaap:SecuredDebtMembersrt:MinimumMembercwst:SecuredOvernightFinancingRateSOFRMember2023-01-012023-06-300000911177cwst:AmendedTermAFacilityDueDecember2026TermLoanFacilityMemberus-gaap:SecuredDebtMembersrt:MaximumMembercwst:SecuredOvernightFinancingRateSOFRMember2023-01-012023-06-300000911177cwst:AmendedTermAFacilityDueDecember2026TermLoanFacilityMemberus-gaap:SecuredDebtMemberus-gaap:BaseRateMembersrt:MinimumMember2023-01-012023-06-300000911177cwst:AmendedTermAFacilityDueDecember2026TermLoanFacilityMemberus-gaap:SecuredDebtMemberus-gaap:BaseRateMembersrt:MaximumMember2023-01-012023-06-300000911177us-gaap:LineOfCreditMembersrt:MinimumMembercwst:RevolvingCreditFacilityDueDecember2026Membercwst:SecuredOvernightFinancingRateSOFRMember2023-01-012023-06-300000911177us-gaap:LineOfCreditMembercwst:RevolvingCreditFacilityDueDecember2026Membersrt:MaximumMembercwst:SecuredOvernightFinancingRateSOFRMember2023-01-012023-06-300000911177us-gaap:LineOfCreditMemberus-gaap:BaseRateMembersrt:MinimumMembercwst:RevolvingCreditFacilityDueDecember2026Member2023-01-012023-06-300000911177us-gaap:LineOfCreditMemberus-gaap:BaseRateMembercwst:RevolvingCreditFacilityDueDecember2026Membersrt:MaximumMember2023-01-012023-06-300000911177cwst:A2023TermLoanFacilityDueDecember2026Memberus-gaap:SecuredDebtMembersrt:MinimumMembercwst:SecuredOvernightFinancingRateSOFRMember2023-01-012023-06-300000911177cwst:A2023TermLoanFacilityDueDecember2026Memberus-gaap:SecuredDebtMembersrt:MaximumMembercwst:SecuredOvernightFinancingRateSOFRMember2023-01-012023-06-300000911177cwst:A2023TermLoanFacilityDueDecember2026Memberus-gaap:SecuredDebtMemberus-gaap:BaseRateMembersrt:MinimumMember2023-01-012023-06-300000911177cwst:A2023TermLoanFacilityDueDecember2026Memberus-gaap:SecuredDebtMemberus-gaap:BaseRateMembersrt:MaximumMember2023-01-012023-06-300000911177srt:MinimumMembercwst:CreditFacilityMember2023-01-012023-06-300000911177cwst:CreditFacilityMembersrt:MaximumMember2023-01-012023-06-300000911177cwst:CreditFacilityMember2023-01-012023-06-300000911177cwst:CreditFacilityMember2023-06-300000911177us-gaap:LineOfCreditMembercwst:CreditFacilityMemberus-gaap:LetterOfCreditMember2023-01-012023-06-300000911177us-gaap:LineOfCreditMember2023-06-300000911177cwst:GFLEnvironmentalIncMember2023-04-012023-06-300000911177cwst:GFLEnvironmentalIncMember2023-01-012023-06-300000911177cwst:TwinBridgesAcquisitionMember2023-04-012023-06-300000911177cwst:TwinBridgesAcquisitionMember2023-01-012023-06-300000911177us-gaap:CashFlowHedgingMemberus-gaap:SubsequentEventMemberus-gaap:InterestRateContractMember2023-07-280000911177us-gaap:CashFlowHedgingMemberus-gaap:InterestRateContractMember2023-06-300000911177us-gaap:CashFlowHedgingMemberus-gaap:InterestRateContractMember2022-12-310000911177us-gaap:CashFlowHedgingMembercwst:ForwardInterestRateContractMember2022-12-310000911177us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherCurrentAssetsMemberus-gaap:InterestRateSwapMember2023-06-300000911177us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherCurrentAssetsMemberus-gaap:InterestRateSwapMember2022-12-310000911177us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateSwapMemberus-gaap:OtherNoncurrentAssetsMember2023-06-300000911177us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateSwapMemberus-gaap:OtherNoncurrentAssetsMember2022-12-310000911177us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateSwapMember2023-06-300000911177us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateSwapMember2022-12-310000911177us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherNoncurrentLiabilitiesMemberus-gaap:InterestRateSwapMember2023-06-300000911177us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherNoncurrentLiabilitiesMemberus-gaap:InterestRateSwapMember2022-12-310000911177us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateSwapMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2023-06-300000911177us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateSwapMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2022-12-310000911177cwst:EnvironmentalRemediationContingencyOtherMember2023-01-012023-06-300000911177cwst:EnvironmentalRemediationContingencyOtherMember2022-01-012022-06-300000911177us-gaap:CommonClassAMember2023-06-162023-06-160000911177us-gaap:CommonClassAMember2023-06-160000911177cwst:A2016IncentivePlanMemberus-gaap:CommonClassAMember2023-06-300000911177us-gaap:CommonClassAMembercwst:TwoThousandSixStockIncentivePlanMember2023-01-012023-06-300000911177us-gaap:CommonClassAMembercwst:AmendedAndRestatedNineteenNinetySevenEmployeeStockPurchasePlanMember2023-04-012023-06-300000911177us-gaap:CommonClassAMembercwst:AmendedAndRestatedNineteenNinetySevenEmployeeStockPurchasePlanMember2023-06-300000911177cwst:A2016IncentivePlanMember2023-01-012023-06-300000911177cwst:A2016IncentivePlanMembersrt:MinimumMember2023-01-012023-06-300000911177cwst:A2016IncentivePlanMembersrt:MaximumMember2023-01-012023-06-300000911177us-gaap:EmployeeStockOptionMember2023-04-012023-06-300000911177us-gaap:EmployeeStockOptionMember2023-01-012023-06-300000911177us-gaap:EmployeeStockOptionMember2022-04-012022-06-300000911177us-gaap:EmployeeStockOptionMember2022-01-012022-06-300000911177us-gaap:EmployeeStockOptionMember2023-06-300000911177cwst:NonEmployeeDirectorMembercwst:RestrictedStockAwardsMember2023-01-012023-06-300000911177cwst:NonEmployeeDirectorMemberus-gaap:RestrictedStockUnitsRSUMember2023-01-012023-06-300000911177cwst:RestrictedStockRestrictedStockUnitsAndPerformanceStockUnitsMember2022-12-310000911177cwst:RestrictedStockRestrictedStockUnitsAndPerformanceStockUnitsMember2023-01-012023-06-300000911177us-gaap:CommonClassAMembercwst:RestrictedStockRestrictedStockUnitsAndPerformanceStockUnitsMember2023-01-012023-06-300000911177cwst:RestrictedStockRestrictedStockUnitsAndPerformanceStockUnitsMember2023-06-300000911177cwst:RestrictedStockRestrictedStockUnitsAndPerformanceStockUnitsMemberus-gaap:ShareBasedCompensationAwardTrancheOneMember2023-06-300000911177cwst:RestrictedStockRestrictedStockUnitsAndPerformanceStockUnitsMemberus-gaap:ShareBasedCompensationAwardTrancheOneMember2023-01-012023-06-300000911177cwst:PerformanceStockUnitMember2023-01-012023-06-300000911177cwst:PerformanceStockUnitMemberus-gaap:CommonClassAMember2023-01-012023-06-300000911177cwst:RestrictedStockRestrictedStockUnitsAndPerformanceStockUnitsMember2023-04-012023-06-300000911177cwst:RestrictedStockRestrictedStockUnitsAndPerformanceStockUnitsMember2022-04-012022-06-300000911177cwst:RestrictedStockRestrictedStockUnitsAndPerformanceStockUnitsMember2022-01-012022-06-300000911177cwst:RestrictedStockAwardsMember2023-06-300000911177srt:WeightedAverageMembercwst:RestrictedStockAwardsMember2023-01-012023-06-300000911177us-gaap:RestrictedStockUnitsRSUMember2023-06-300000911177srt:WeightedAverageMemberus-gaap:RestrictedStockUnitsRSUMember2023-01-012023-06-300000911177cwst:PerformanceStockUnitMember2023-06-300000911177srt:WeightedAverageMembercwst:PerformanceStockUnitMember2023-01-012023-06-300000911177cwst:MarketbasedPerformanceStockUnitsMember2023-01-012023-06-300000911177cwst:AmendedAndRestatedNineteenNinetySevenEmployeeStockPurchasePlanMember2023-04-012023-06-300000911177cwst:AmendedAndRestatedNineteenNinetySevenEmployeeStockPurchasePlanMember2022-04-012022-06-300000911177cwst:AmendedAndRestatedNineteenNinetySevenEmployeeStockPurchasePlanMember2023-01-012023-06-300000911177cwst:AmendedAndRestatedNineteenNinetySevenEmployeeStockPurchasePlanMember2022-01-012022-06-300000911177us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2022-12-310000911177us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2023-01-012023-06-300000911177us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2023-06-300000911177us-gaap:InterestRateSwapMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2023-04-012023-06-300000911177us-gaap:InterestRateSwapMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-04-012022-06-300000911177us-gaap:InterestRateSwapMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2023-01-012023-06-300000911177us-gaap:InterestRateSwapMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-01-012022-06-300000911177us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2023-04-012023-06-300000911177us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-04-012022-06-300000911177us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2023-01-012023-06-300000911177us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-01-012022-06-300000911177us-gaap:CommonClassAMember2022-06-300000911177us-gaap:CommonClassBMember2022-06-300000911177us-gaap:CommonClassAMember2023-01-012023-06-300000911177us-gaap:CommonClassAMember2023-04-012023-06-300000911177us-gaap:FairValueInputsLevel1Memberus-gaap:LandfillMemberus-gaap:FairValueMeasurementsRecurringMember2023-06-300000911177us-gaap:LandfillMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2023-06-300000911177us-gaap:FairValueInputsLevel3Memberus-gaap:LandfillMemberus-gaap:FairValueMeasurementsRecurringMember2023-06-300000911177us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2023-06-300000911177us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2023-06-300000911177us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2023-06-300000911177us-gaap:FairValueInputsLevel1Memberus-gaap:LandfillMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-310000911177us-gaap:LandfillMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2022-12-310000911177us-gaap:FairValueInputsLevel3Memberus-gaap:LandfillMemberus-gaap:FairValueMeasurementsRecurringMember2022-12-3100009111772022-01-012022-12-310000911177us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310000911177us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2022-12-310000911177us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-12-310000911177us-gaap:EstimateOfFairValueFairValueDisclosureMembercwst:FixedRateBondsMember2023-06-300000911177us-gaap:CarryingReportedAmountFairValueDisclosureMembercwst:FixedRateBondsMember2023-06-300000911177us-gaap:CarryingReportedAmountFairValueDisclosureMember2023-06-300000911177us-gaap:OperatingSegmentsMembercwst:EasternRegionMember2023-04-012023-06-300000911177us-gaap:IntersegmentEliminationMembercwst:EasternRegionMember2023-04-012023-06-300000911177us-gaap:OperatingSegmentsMembercwst:EasternRegionMember2023-06-300000911177us-gaap:OperatingSegmentsMembercwst:WesternRegionMember2023-04-012023-06-300000911177us-gaap:IntersegmentEliminationMembercwst:WesternRegionMember2023-04-012023-06-300000911177us-gaap:OperatingSegmentsMembercwst:WesternRegionMember2023-06-300000911177cwst:MidAtlanticRegionMemberus-gaap:OperatingSegmentsMember2023-04-012023-06-300000911177cwst:MidAtlanticRegionMemberus-gaap:IntersegmentEliminationMember2023-04-012023-06-300000911177cwst:MidAtlanticRegionMemberus-gaap:OperatingSegmentsMember2023-06-300000911177us-gaap:OperatingSegmentsMembercwst:ResourceSolutionsRegionMember2023-04-012023-06-300000911177cwst:ResourceSolutionsRegionMemberus-gaap:IntersegmentEliminationMember2023-04-012023-06-300000911177us-gaap:OperatingSegmentsMembercwst:ResourceSolutionsRegionMember2023-06-300000911177us-gaap:CorporateNonSegmentMember2023-04-012023-06-300000911177us-gaap:CorporateNonSegmentMember2023-06-300000911177us-gaap:IntersegmentEliminationMember2023-04-012023-06-300000911177us-gaap:OperatingSegmentsMembercwst:EasternRegionMember2022-04-012022-06-300000911177us-gaap:IntersegmentEliminationMembercwst:EasternRegionMember2022-04-012022-06-300000911177us-gaap:OperatingSegmentsMembercwst:EasternRegionMember2022-06-300000911177us-gaap:OperatingSegmentsMembercwst:WesternRegionMember2022-04-012022-06-300000911177us-gaap:IntersegmentEliminationMembercwst:WesternRegionMember2022-04-012022-06-300000911177us-gaap:OperatingSegmentsMembercwst:WesternRegionMember2022-06-300000911177cwst:MidAtlanticRegionMemberus-gaap:OperatingSegmentsMember2022-04-012022-06-300000911177cwst:MidAtlanticRegionMemberus-gaap:IntersegmentEliminationMember2022-04-012022-06-300000911177cwst:MidAtlanticRegionMemberus-gaap:OperatingSegmentsMember2022-06-300000911177us-gaap:OperatingSegmentsMembercwst:ResourceSolutionsRegionMember2022-04-012022-06-300000911177cwst:ResourceSolutionsRegionMemberus-gaap:IntersegmentEliminationMember2022-04-012022-06-300000911177us-gaap:OperatingSegmentsMembercwst:ResourceSolutionsRegionMember2022-06-300000911177us-gaap:CorporateNonSegmentMember2022-04-012022-06-300000911177us-gaap:CorporateNonSegmentMember2022-06-300000911177us-gaap:IntersegmentEliminationMember2022-04-012022-06-300000911177us-gaap:OperatingSegmentsMembercwst:EasternRegionMember2023-01-012023-06-300000911177us-gaap:IntersegmentEliminationMembercwst:EasternRegionMember2023-01-012023-06-300000911177us-gaap:OperatingSegmentsMembercwst:WesternRegionMember2023-01-012023-06-300000911177us-gaap:IntersegmentEliminationMembercwst:WesternRegionMember2023-01-012023-06-300000911177cwst:MidAtlanticRegionMemberus-gaap:OperatingSegmentsMember2023-01-012023-06-300000911177cwst:MidAtlanticRegionMemberus-gaap:IntersegmentEliminationMember2023-01-012023-06-300000911177us-gaap:OperatingSegmentsMembercwst:ResourceSolutionsRegionMember2023-01-012023-06-300000911177cwst:ResourceSolutionsRegionMemberus-gaap:IntersegmentEliminationMember2023-01-012023-06-300000911177us-gaap:CorporateNonSegmentMember2023-01-012023-06-300000911177us-gaap:IntersegmentEliminationMember2023-01-012023-06-300000911177us-gaap:OperatingSegmentsMembercwst:EasternRegionMember2022-01-012022-06-300000911177us-gaap:IntersegmentEliminationMembercwst:EasternRegionMember2022-01-012022-06-300000911177us-gaap:OperatingSegmentsMembercwst:WesternRegionMember2022-01-012022-06-300000911177us-gaap:IntersegmentEliminationMembercwst:WesternRegionMember2022-01-012022-06-300000911177cwst:MidAtlanticRegionMemberus-gaap:OperatingSegmentsMember2022-01-012022-06-300000911177cwst:MidAtlanticRegionMemberus-gaap:IntersegmentEliminationMember2022-01-012022-06-300000911177us-gaap:OperatingSegmentsMembercwst:ResourceSolutionsRegionMember2022-01-012022-06-300000911177cwst:ResourceSolutionsRegionMemberus-gaap:IntersegmentEliminationMember2022-01-012022-06-300000911177us-gaap:CorporateNonSegmentMember2022-01-012022-06-300000911177us-gaap:IntersegmentEliminationMember2022-01-012022-06-300000911177cwst:SolidWasteOperationsCollectionMember2023-04-012023-06-300000911177cwst:SolidWasteOperationsCollectionMember2022-04-012022-06-300000911177cwst:SolidWasteOperationsCollectionMember2023-01-012023-06-300000911177cwst:SolidWasteOperationsCollectionMember2022-01-012022-06-300000911177cwst:SolidWasteOperationsDisposalMember2023-04-012023-06-300000911177cwst:SolidWasteOperationsDisposalMember2022-04-012022-06-300000911177cwst:SolidWasteOperationsDisposalMember2023-01-012023-06-300000911177cwst:SolidWasteOperationsDisposalMember2022-01-012022-06-300000911177cwst:SolidWasteOperationsPowerGenerationMember2023-04-012023-06-300000911177cwst:SolidWasteOperationsPowerGenerationMember2022-04-012022-06-300000911177cwst:SolidWasteOperationsPowerGenerationMember2023-01-012023-06-300000911177cwst:SolidWasteOperationsPowerGenerationMember2022-01-012022-06-300000911177cwst:SolidWasteOperationsProcessingMember2023-04-012023-06-300000911177cwst:SolidWasteOperationsProcessingMember2022-04-012022-06-300000911177cwst:SolidWasteOperationsProcessingMember2023-01-012023-06-300000911177cwst:SolidWasteOperationsProcessingMember2022-01-012022-06-300000911177cwst:SolidWasteOperationsMember2023-04-012023-06-300000911177cwst:SolidWasteOperationsMember2022-04-012022-06-300000911177cwst:SolidWasteOperationsMember2023-01-012023-06-300000911177cwst:SolidWasteOperationsMember2022-01-012022-06-300000911177cwst:ResourceSolutionsOperationsProcessingMember2023-04-012023-06-300000911177cwst:ResourceSolutionsOperationsProcessingMember2022-04-012022-06-300000911177cwst:ResourceSolutionsOperationsProcessingMember2023-01-012023-06-300000911177cwst:ResourceSolutionsOperationsProcessingMember2022-01-012022-06-300000911177cwst:ResourceSolutionsOperationsMember2023-04-012023-06-300000911177cwst:ResourceSolutionsOperationsMember2022-04-012022-06-300000911177cwst:ResourceSolutionsOperationsMember2023-01-012023-06-300000911177cwst:ResourceSolutionsOperationsMember2022-01-012022-06-30


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark One)
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2023
OR
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from                      to                     
Commission file number 000-23211
CASELLA WASTE SYSTEMS, INC.
(Exact name of registrant as specified in its charter)
Delaware03-0338873
(State or other jurisdiction of
incorporation or organization)
(I.R.S. Employer
Identification No.)
25 Greens Hill Lane,
Rutland,Vermont05701
(Address of principal executive offices)(Zip Code)
Registrant’s telephone number, including area code: (802775-0325
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading
Symbol(s)
Name of each exchange
on which registered
Class A common stock, $0.01 par value per shareCWSTThe Nasdaq Stock Market LLC
(Nasdaq Global Select Market)
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes      No  
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes      No  
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company," and "emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filerAccelerated filer
Non-accelerated filerSmaller reporting company
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  No  
The number of shares outstanding of each of the registrant’s classes of common stock, as of July 15, 2023:
Class A common stock, $0.01 par value per share:56,974,049 
Class B common stock, $0.01 par value per share:988,200 




PART I.
ITEM 1.    FINANCIAL STATEMENTS
CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(in thousands)
June 30,
2023
December 31,
2022
 (Unaudited) 
ASSETS
CURRENT ASSETS:
Cash and cash equivalents$465,715 $71,152 
Accounts receivable, net of allowance for credit losses of $3,333 and $3,016, respectively
117,682 100,886 
Refundable income taxes3,726  
Prepaid expenses18,122 15,182 
Inventory16,784 13,472 
Other current assets7,358 6,787 
Total current assets629,387 207,479 
Property, plant and equipment, net of accumulated depreciation and amortization of $1,117,946 and $1,064,756, respectively
818,242 720,550 
Operating lease right-of-use assets104,920 92,063 
Goodwill619,683 274,458 
Intangible assets, net187,148 91,783 
Restricted assets2,005 1,900 
Cost method investments10,967 10,967 
Deferred income taxes16,408 22,903 
Other non-current assets28,532 27,112 
Total assets$2,417,292 $1,449,215 
The accompanying notes are an integral part of these consolidated financial statements.
1



CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS (Continued)
(in thousands, except for share and per share data)
June 30,
2023
December 31,
2022
(Unaudited) 
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Current maturities of debt$32,747 $8,968 
Current operating lease liabilities8,510 7,000 
Accounts payable87,602 74,203 
Accrued payroll and related expenses14,847 23,556 
Accrued interest3,116 2,858 
Contract liabilities16,260 3,742 
Current accrued final capping, closure and post-closure costs10,767 11,036 
Other accrued liabilities45,333 46,237 
Total current liabilities219,182 177,600 
Debt, less current portion983,344 585,015 
Operating lease liabilities, less current portion71,039 57,345 
Accrued final capping, closure and post-closure costs, less current portion107,949 102,642 
Deferred income taxes479 437 
Other long-term liabilities26,916 28,276 
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY:
Class A common stock, $0.01 par value per share; 100,000,000 shares authorized; 56,974,000 and 50,704,000 shares issued and outstanding, respectively
570 507 
Class B common stock, $0.01 par value per share; 1,000,000 shares authorized; 988,000 shares issued and outstanding, respectively; 10 votes per share
10 10 
Additional paid-in capital1,163,077 661,761 
Accumulated deficit(162,882)(171,920)
Accumulated other comprehensive income, net of tax7,608 7,542 
Total stockholders' equity1,008,383 497,900 
Total liabilities and stockholders' equity$2,417,292 $1,449,215 
The accompanying notes are an integral part of these consolidated financial statements.
2



CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except for per share data)
 Three Months Ended
June 30,
Six Months Ended
June 30,
 2023202220232022
Revenues$289,645 $283,666 $552,241 $517,693 
Operating expenses:
Cost of operations186,319 186,038 366,563 348,493 
General and administration35,865 33,562 71,544 63,354 
Depreciation and amortization34,924 31,150 68,359 60,579 
Legal settlement6,150  6,150  
Expense from acquisition activities3,677 1,019 6,540 3,062 
Southbridge Landfill closure charge96 178 206 318 
267,031 251,947 519,362 475,806 
Operating income22,614 31,719 32,879 41,887 
Other expense (income):
Interest income(1,611)(42)(2,295)(81)
Interest expense9,001 5,698 15,959 10,902 
Loss from termination of bridge financing8,198  8,198  
Other income(452)(312)(800)(457)
Other expense, net15,136 5,344 21,062 10,364 
Income before income taxes7,478 26,375 11,817 31,523 
Provision for income taxes1,988 8,579 2,779 9,537 
Net income$5,490 $17,796 $9,038 $21,986 
Basic earnings per share attributable to common stockholders:
Weighted average common shares outstanding52,885 51,642 52,331 51,567 
Basic earnings per common share$0.10 $0.34 $0.17 $0.43 
Diluted earnings per share attributable to common stockholders:
Weighted average common shares outstanding52,980 51,781 52,427 51,720 
Diluted earnings per common share$0.10 $0.34 $0.17 $0.43 
The accompanying notes are an integral part of these consolidated financial statements.
3



CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES
UNAUDITED CONSOLIDATED STATEMENTS OF
COMPREHENSIVE INCOME
(in thousands)
 Three Months Ended
June 30,
Six Months Ended
June 30,
 2023202220232022
Net income$5,490 $17,796 $9,038 $21,986 
Other comprehensive income, before tax:
Hedging activity:
Interest rate swap settlements1,290 (932)2,345 (2,095)
Interest rate swap amounts reclassified into interest expense(1,270)994 (2,376)2,122 
Unrealized gain resulting from changes in fair value of derivative instruments2,508 3,488 117 11,869 
Other comprehensive income, before tax2,528 3,550 86 11,896 
Income tax provision related to items of other comprehensive income693 570 20 2,773 
Other comprehensive income, net of tax1,835 2,980 66 9,123 
Comprehensive income$7,325 $20,776 $9,104 $31,109 
The accompanying notes are an integral part of these consolidated financial statements.
4




CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES
UNAUDITED CONSOLIDATED STATEMENTS OF
STOCKHOLDERS' EQUITY
(in thousands)

  Casella Waste Systems, Inc. Stockholders' Equity
Class A
Common Stock
Class B
Common Stock
Additional Paid-In CapitalAccumulated DeficitAccumulated Other
Comprehensive Income
TotalSharesAmountSharesAmount
Balance, December 31, 2022$497,900 50,704 $507 988 $10 $661,761 $(171,920)$7,542 
Issuances of Class A common stock 194 2 — — (2)— — 
Stock-based compensation1,976 — — — — 1,976 — — 
Comprehensive income:
Net income3,548 — — — — — 3,548 — 
Other comprehensive loss:
Hedging activity(1,769)— — — — — — (1,769)
Balance, March 31, 2023501,655 50,898 509 988 10 663,735 (168,372)5,773 
Issuance of Class A common stock - equity offering, net of stock issuance costs496,238 6,053 61 — — 496,177 — — 
Issuances of Class A common stock799 23 — — — 799 — — 
Stock-based compensation2,366 — — — — 2,366 — — 
Comprehensive income:
Net income5,490 — — — — — 5,490 — 
Other comprehensive income:
Hedging activity1,835 — — — — — — 1,835 
Balance, June 30, 2023$1,008,383 56,974 $570 988 $10 $1,163,077 $(162,882)$7,608 


Casella Waste Systems, Inc. Stockholders' Equity
Class A
Common Stock
Class B
Common Stock
Additional Paid-In CapitalAccumulated DeficitAccumulated Other
Comprehensive Income (Loss)
TotalSharesAmountSharesAmount
Balance, December 31, 2021$422,457 50,423 $504 988 $10 $652,045 $(224,999)$(5,103)
Issuances of Class A common stock19 227 2 — — 17 — — 
Stock-based compensation2,241 — — — — 2,241 — — 
Comprehensive income:
Net income4,190 — — — — — 4,190 — 
Other comprehensive income:
Hedging activity6,143 — — — — — — 6,143 
Balance, March 31, 2022435,050 50,650 506 988 10 654,303 (220,809)1,040 
Issuances of Class A common stock803 40 1 — — 802 — — 
Stock-based compensation937 — — — — 937 — — 
Comprehensive income:
Net income17,796 — — — — — 17,796 — 
Other comprehensive income:
Hedging activity2,980 — — — — — — 2,980 
Balance, June 30, 2022$457,566 50,690 $507 988 $10 $656,042 $(203,013)$4,020 
The accompanying notes are an integral part of these consolidated financial statements.
5



CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
 Six Months Ended
June 30,
 20232022
Cash Flows from Operating Activities:
Net income$9,038 $21,986 
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization68,359 60,579 
Interest accretion on landfill and environmental remediation liabilities5,001 4,015 
Amortization of debt issuance costs1,505 924 
Stock-based compensation4,341 3,178 
Operating lease right-of-use assets expense6,872 6,824 
Disposition of assets, other items and charges, net(300)376 
Loss from termination of bridge financing8,198  
Deferred income taxes1,952 7,156 
Changes in assets and liabilities, net of effects of acquisitions and divestitures:
Accounts receivable(3,958)(14,667)
Landfill operating lease contract expenditures(1,318)(1,308)
Accounts payable8,898 10,142 
Prepaid expenses, inventories and other assets(5,845)(6,099)
Accrued expenses, contract liabilities and other liabilities(19,547)(855)
Net cash provided by operating activities83,196 92,251 
Cash Flows from Investing Activities:
Acquisitions, net of cash acquired(547,587)(56,250)
Additions to property, plant and equipment(50,415)(54,868)
Proceeds from sale of property and equipment776 507 
Net cash used in investing activities(597,226)(110,611)
Cash Flows from Financing Activities:
Proceeds from debt borrowings430,000 82,200 
Principal payments on debt(10,625)(55,297)
Payments of debt issuance costs(7,185)(1,229)
Payments of contingent consideration (1,000)
Proceeds from the exercise of share based awards 192 
Proceeds from the public offering of Class A common stock496,403  
Net cash provided by financing activities908,593 24,866 
Net increase in cash and cash equivalents394,563 6,506 
Cash and cash equivalents, beginning of period71,152 33,809 
Cash and cash equivalents, end of period$465,715 $40,315 
Supplemental Disclosure of Cash Flow Information:
Cash interest payments$14,196 $9,648 
Cash income tax payments$7,913 $2,092 
Non-current assets obtained through long-term financing obligations$4,715 $4,190 
Right-of-use assets obtained in exchange for operating lease obligations$17,756 $5,194 
The accompanying notes are an integral part of these consolidated financial statements.
6



CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES
NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
1.    BASIS OF PRESENTATION
Casella Waste Systems, Inc. (“Parent”), a Delaware corporation, and its consolidated subsidiaries (collectively, “we”, “us” or “our”), is a regional, vertically integrated solid waste services company. We provide resource management expertise and services to residential, commercial, municipal, institutional and industrial customers, primarily in the areas of solid waste collection and disposal, transfer, recycling and organics services.
Through June 30, 2023, we provided integrated solid waste services in seven states: Vermont, New Hampshire, New York, Massachusetts, Connecticut, Maine and Pennsylvania, with our headquarters located in Rutland, Vermont. On June 30, 2023, we acquired the equity interests of four wholly owned subsidiaries of GFL Environmental Inc. ("GFL Subsidiaries"), which are the basis of a newly formed regional operating segment, the Mid-Atlantic region, that will expand our integrated solid waste services into the states of Delaware and Maryland ("GFL Acquisition"). See Note 4, Business Combinations for further disclosure. Operations under the Mid-Atlantic region did not commence until July 1, 2023, and have had no impact on our operational results for the periods presented in this Quarterly Report on Form 10-Q. The GFL Acquisition was funded from financing transactions, see Note 7, Debt for further disclosure, the net proceeds from an equity offering, completed June 16, 2023, see Note 9, Stockholders' Equity for further disclosure, and cash on hand.
We manage our solid waste operations on a geographic basis through regional operating segments, the Eastern, Western and Mid-Atlantic regions, each of which provides a full range of solid waste services.We manage our resource-renewal operations through the Resource Solutions operating segment, which leverages our core competencies in materials processing, industrial recycling, organics and resource management service offerings to deliver a comprehensive solution for our larger commercial, municipal, institutional and industrial customers that have more diverse waste and recycling needs. Legal, tax, information technology, human resources, certain finance and accounting and other administrative functions are included in our Corporate Entities segment.
The accompanying unaudited consolidated financial statements, which include the accounts of the Parent and our wholly-owned subsidiaries, have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). All significant intercompany accounts and transactions are eliminated in consolidation. Investments in entities in which we do not have a controlling financial interest are accounted for under either the equity method or the cost method of accounting, as appropriate. Our significant accounting policies are more fully discussed in Item 8. "Financial Statements and Supplementary Data" of our Annual Report on Form 10-K for the fiscal year ended December 31, 2022 ("fiscal year 2022"), which was filed with the SEC on February 17, 2023 ("2022 Form 10-K").
Preparation of our consolidated financial statements in accordance with GAAP requires management to make certain estimates and assumptions. These estimates and assumptions affect the accounting for and recognition and disclosure of assets, liabilities, equity, revenues and expenses. We must make these estimates and assumptions because certain information that we use is dependent on future events, cannot be calculated with a high degree of precision given the available data, or simply cannot be readily calculated. In the opinion of management, these consolidated financial statements include all adjustments, which include normal recurring and nonrecurring adjustments, necessary for a fair presentation of the financial position, results of operations and cash flows for the periods presented. The results for the three and six months ended June 30, 2023 may not be indicative of the results for any other interim period or the entire fiscal year. The consolidated financial statements presented herein should be read in conjunction with our audited consolidated financial statements included in our 2022 Form 10-K.
Certain prior period amounts in the consolidated financial statements are conformed to current period presentation. This includes the presentation of certain adjustments to reconcile net income to net cash provided by operating activities, which have been reclassified within cash flows from operating activities.
Subsequent Events
We have evaluated subsequent events or transactions that have occurred after the consolidated balance sheet date of June 30, 2023 through the date of filing of the consolidated financial statements with the SEC on this Quarterly Report on Form 10-Q. Except as disclosed, no material subsequent events have occurred since June 30, 2023 through the date of this filing that would require recognition or disclosure in our consolidated financial statements.

7



2.    ACCOUNTING CHANGES
The following table provides a brief description of a recent Accounting Standards Update ("ASU(s)") to the Accounting Standards Codification ("ASC") issued by the Financial Accounting Standards Board (“FASB”) that we adopted and is deemed to have a possible material impact on our consolidated financial statements based on current account balances and activity:
StandardDescriptionEffect on the Financial Statements or Other
Significant Matters
Accounting standards adopted effective January 1, 2023
ASU No. 2020-04: Reference Rate Reform (Topic 848), as amended through December 2022Provides temporary optional guidance to ease the potential burden in applying GAAP to contract modifications and hedging relationships that reference London Inter-Bank Offered Rate ("LIBOR") or another reference rate expected to be discontinued, subject to meeting certain criteria.
This guidance provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. Effective the quarter ended March 31, 2023, we elected optional expedients under this guidance that allowed us to maintain hedge effectiveness upon modifying contract terms related to reference rate reform in our amended and restated credit agreement, dated as of December 22, 2021, as amended by the first amendment, dated as of February 9, 2023, the second amendment, dated as of February 9, 2023, and the third amendment, dated as of April 25, 2023, collectively with the specified acquisition loan joinder ("Loan Joinder") (the "Amended and Restated Credit Agreement") until we transitioned our interest rate derivative agreements from LIBOR to term secured overnight financing rate ("Term SOFR") in the three months ended June 30, 2023, See Note 7, Debt. This guidance will be in effect through December 31, 2024.
3.    REVENUE RECOGNITION
Revenues associated with our solid waste operations are derived mainly from solid waste collection and disposal services, including landfill, transfer station and transportation services, landfill gas-to-energy services and processing services. Revenues associated with our resource-renewal operations are derived from processing services, and non-processing services, which we now refer to as our National Accounts business.
The following tables set forth revenues disaggregated by service line and timing of revenue recognition by operating segment for each of the three and six months ended June 30, 2023 and 2022:
Three Months Ended June 30, 2023
EasternWesternMid-Atlantic (1)Resource SolutionsTotal Revenues
Collection$64,749 $85,099 $ $ $149,848 
Landfill7,220 18,921   26,141 
Transfer station17,698 14,728   32,426 
Transportation1,208 3,854   5,062 
Landfill gas-to-energy173 1,148   1,321 
Processing2,275 479  25,383 28,137 
National Accounts   46,710 46,710 
Total revenues$93,323 $124,229 $ $72,093 $289,645 
Transferred at a point-in-time$99 $690 $ $8,135 $8,924 
Transferred over time93,224 123,539  63,958 280,721 
Total revenues$93,323 $124,229 $ $72,093 $289,645 
8



Three Months Ended June 30, 2022
EasternWesternMid-Atlantic (1)Resource SolutionsTotal Revenues
Collection$59,299 $77,962 $ $ $137,261 
Landfill6,542 18,599   25,141 
Transfer station17,292 11,982   29,274 
Transportation1,765 4,024   5,789 
Landfill gas-to-energy249 1,504   1,753 
Processing2,116 813  33,867 36,796 
National Accounts   47,652 47,652 
Total revenues$87,263 $114,884 $ $81,519 $283,666 
Transferred at a point-in-time$117 $517 $ $18,813 $19,447 
Transferred over time87,146 114,367  62,706 264,219 
Total revenues$87,263 $114,884 $ $81,519 $283,666 
Six Months Ended June 30, 2023
EasternWesternMid-Atlantic (1)Resource SolutionsTotal Revenues
Collection$125,858 $163,967 $ $ $289,825 
Landfill13,521 35,380   48,901 
Transfer31,680 24,691   56,371 
Transportation2,390 7,434   9,824 
Landfill gas-to-energy386 2,859   3,245 
Processing3,398 931  48,189 52,518 
National Accounts   91,557 91,557 
Total revenues$177,233 $235,262 $ $139,746 $552,241 
Transferred at a point-in-time$218 $1,421 $ $14,572 $16,211 
Transferred over time177,015 233,841  125,174 536,030 
Total revenues$177,233 $235,262 $ $139,746 $552,241 
Six Months Ended June 30, 2022
EasternWesternMid-Atlantic (1)Resource SolutionsTotal Revenues
Collection$110,796 $145,997 $ $ $256,793 
Landfill11,918 32,788   44,706 
Transfer28,905 19,825   48,730 
Transportation3,238 6,682   9,920 
Landfill gas-to-energy522 3,885   4,407 
Processing3,203 1,546  61,263 66,012 
National Accounts   87,125 87,125 
Total revenues$158,582 $210,723 $ $148,388 $517,693 
Transferred at a point-in-time$236 $1,028 $ $33,900 $35,164 
Transferred over time158,346 209,695  114,488 482,529 
Total revenues$158,582 $210,723 $ $148,388 $517,693 
(1)Operations under the Mid-Atlantic region did not commence until July 1, 2023, and have had no impact on our operational results for the periods presented in this Quarterly Report on Form 10-Q.
9



Payments to customers that are not in exchange for a distinct good or service are recorded as a reduction of revenues. Rebates to certain customers associated with payments for recycled or organic materials that are received and subsequently processed and sold to other third-parties amounted to $6,329 and $12,958 in the three and six months ended June 30, 2023, respectively, and $5,908 and $9,702 in the three and six months ended June 30, 2022, respectively. Rebates are generally recorded as a reduction of revenues upon the sale of such materials, or upon receipt of the recycled materials at our facilities. We did not record revenues in the three and six months ended June 30, 2023 or June 30, 2022 from performance obligations satisfied in previous periods.
Contract receivables, which are included in accounts receivable, net in our consolidated balance sheets are recorded when billed or when related revenue is earned, if earlier, and represent claims against third-parties that will be settled in cash. Accounts receivable, net includes gross receivables from contracts of $119,971 and $102,234 as of June 30, 2023 and December 31, 2022, respectively. Certain customers are billed in advance and, accordingly, recognition of the related revenues for which payment has been received is deferred as a contract liability until the services are provided and control transferred to the customer. We recognized contract liabilities of $16,260 and $3,742 as of June 30, 2023 and December 31, 2022, respectively. Due to the short term nature of advanced billings, substantially all of the deferred revenue recognized as a contract liability as of December 31, 2022 and December 31, 2021 was recognized as revenue during the six months ended June 30, 2023 and June 30, 2022, respectively, when the services were performed.
4.    BUSINESS COMBINATIONS
In June 2023, we entered into an asset purchase agreement with Consolidated Waste Services, LLC and its affiliates (dba as Twin Bridges), pursuant to which we agreed to acquire assets in the greater Albany, New York area for total consideration of approximately $219,000 ("Twin Bridges Acquisition"), subject to the terms and conditions set forth in the agreement. The Twin Bridges Acquisition includes two collection operations, one transfer station, one material recovery facility, one office building, and several satellite properties. The Twin Bridges Acquisition is subject to customary closing conditions, including the expiration or termination of any applicable waiting period under the Hart-Scott-Rodino Act, and the absence of any investigation by any governmental entity regarding the legality of the transactions contemplated by the asset purchase agreement. The waiting period under the Hart-Scott-Rodino Act has expired. On July 6, 2023, we received a subpoena duces tecum from the New York State Attorney General (“NYAG”) seeking information about the Twin Bridges Acquisition. We are cooperating with the NYAG to address the agency’s questions. The Twin Bridges Acquisition is expected to be funded with the net proceeds from an equity offering completed on June 16, 2023. See Note 9, Stockholders' Equity for further disclosure regarding the equity offering.
In the six months ended June 30, 2023, we acquired two businesses: the GFL Acquisition, which includes solid waste collection, transfer and recycling operations in Pennsylvania, Maryland and Delaware whose assets are allocated between our Mid-Atlantic region and Resource Solutions operating segments, as well as a stand alone solid waste business in our Western region. In the six months ended June 30, 2022, we acquired eight businesses primarily related to our solid-waste operations, which included solid-waste collection, recycling, transfer station and transportation businesses.
The operating results of these businesses are included in the accompanying unaudited consolidated statements of operations from each date of acquisition, with the exception of the GFL Acquisition whose operations did not commence until July 1, 2023, and the purchase price has been allocated to the net assets acquired based on fair values at each date of acquisition with the residual amounts recorded as goodwill. Purchase price allocations are based on information existing at the acquisition dates or upon closing the transactions, including contingent consideration. Acquired intangible assets other than goodwill that are subject to amortization include customer relationships, trade names and covenants not-to-compete. Such assets are amortized over a two-year to ten-year period from the date of acquisition. All amounts recorded to goodwill are expected to be deductible for tax purposes, with the exception of one of the GFL Subsidiaries acquired as a part of the GFL Acquisition in the six months ended June 30, 2023.
10



A summary of the purchase price paid and the purchase price allocation for acquisitions follows:
 Six Months Ended
June 30,
 20232022
Purchase Price:
Cash used in acquisitions, net of cash acquired$544,359 $55,053 
Holdbacks to sellers and contingent consideration1,900 3,842 
Total consideration$546,259 $58,895 
Allocated as follows:
Current assets$15,364 $7,584 
Property, plant and equipment:
Land2,213 2,804 
Buildings and improvements8,666 5,308 
Machinery and equipment90,276 6,712 
Operating lease right-of-use assets11,260 405 
Intangible assets:
Covenants not-to-compete10,550 1,415 
Customer relationships93,000 9,725 
Other non-current assets 40 
Deferred tax liability(5,160) 
Current liabilities(15,195)(3,577)
Operating lease liabilities, less current portion(9,887)(282)
Fair value of assets acquired and liabilities assumed201,087 30,134 
Excess purchase price allocated to goodwill$345,172 $28,761 
Certain purchase price allocations, including the GFL Acquisition which is subject to finalizing the third-party valuation, are preliminary and are based on information existing at the acquisition dates or upon closing the transaction. Accordingly, the purchase price allocations are subject to change.
Unaudited pro forma combined information that shows our operational results as though each acquisition completed since the beginning of the prior fiscal year had occurred as of January 1, 2022 is as follows:
 Three Months Ended
June 30,
Six Months Ended
June 30,
 2023202220232022
Revenues$335,363 $335,299 $645,821 $626,980 
Operating income$25,982 $35,543 $39,734 $50,250 
Net income$7,494 $19,985 $13,113 $26,421 
Basic earnings per share attributable to common stockholders:
Weighted average common shares outstanding52,885 51,642 52,331 51,567 
Basic earnings per common share$0.14 $0.39 $0.25 $0.51 
Diluted earnings per share attributable to common stockholders:
Weighted average common shares outstanding52,980 51,781 52,427 51,720 
Diluted earnings per common share$0.14 $0.39 $0.25 $0.51 
The unaudited pro forma results set forth in the table above have been prepared for comparative purposes only and are not necessarily indicative of the actual results of operations had the acquisitions occurred as of January 1, 2022 or of the results of our future operations. Furthermore, the unaudited pro forma results do not give effect to all cost savings or incremental costs that may occur as the result of the integration and consolidation of the completed acquisitions.
11



5.    GOODWILL AND INTANGIBLE ASSETS
A summary of the activity and balances related to goodwill by operating segment is as follows:
December 31,
2022
AcquisitionsMeasurement Period AdjustmentsJune 30,
2023
Eastern$52,406