Print Page  |  Close Window

SEC Filings

DEF 14A
REPUBLIC SERVICES, INC. filed this Form DEF 14A on 04/02/2015
Entire Document
 


Table of Contents

Executive Compensation

 

The tables below compare targeted metrics with actual outcomes for each performance measure in the 2014 NEO compensation program.

 

LOGO

The annual bonus for our NEOs has paid out at 50% of target or less two out of the last three years and at 125% of target the other year, which reflects that our performance targets are rigorous but achievable.

That the 2014 annual bonus for our NEOs paid out at only 50% of target is not related to the underlying strength of our core business. We reported 2014 diluted EPS as determined in accordance with United States generally accepted accounting principles (“U.S. GAAP”) of $1.53 per share and adjusted diluted EPS, which is not a measure determined in accordance with U.S. GAAP, of $1.96 per share. We believe that presenting adjusted diluted EPS will help you understand that our core business performed quite well for 2014 separate from those uncontrollable items that had a disproportionate impact on our U.S. GAAP financial results.

The single largest component of the adjustment to diluted EPS was a $0.38 per share charge for remediation and other matters at our closed landfill in Bridgeton, Missouri. During 2014, we updated our cost and timeline estimates to build and operate a leachate management facility and related infrastructure, manage the remediation area and incur other costs related to the site. Accordingly, we recorded Bridgeton-related charges in 2014 of $227.1 million, which costs are expected to be spent over the next 35 years. For a reconciliation of our 2014 adjusted diluted EPS to U.S. GAAP diluted EPS and additional information on why we use and how

 

Republic Services, Inc. 2015 Proxy Statement     37