RSG · 10-Q · 2026Q2 · Full report
Liquidity and Debt Position
REPUBLIC SERVICES, INC. · 2026-08-07 · Importance 70 · Surprise 56 · From source text
As of June 30, 2026, Republic Services had $548 million of principal debt maturing within the next 12 months and $3.5 billion of aggregate commitments under its Credit Facility, which matures in July 2029. Credit Facility availability increased to $2.6 billion from $1.8 billion at December 31, 2025, while commercial paper outstanding declined to $420 million from $1.0 billion; on August 6, 2026, the company increased its commercial paper cap from $1.5 billion to $2.0 billion. In June 2026, the company issued $700 million of 4.750% senior notes due 2031 and $500 million of 5.000% senior notes due 2036, using proceeds to repay portions of credit-facility and commercial-paper borrowings. The company reported a total debt-to-EBITDA ratio of approximately 2.6 versus a 3.75 covenant maximum, remained in compliance with its covenants, and held A- ratings from S&P and Fitch and an A3 rating from Moody’s as of June 30, 2026.
Key facts
- Availability under the Credit Facility was $2.6 billion and $1.8 billion as of June 30, 2026 and December 31, 2025, respectively. source
- We had $182 million and $425 million outstanding under the Credit Facility as of June 30, 2026 and December 31, 2025, respectively. source
- Net payments for notes payable and long-term debt were $711 million during the six months ended June 30, 2026, compared to net payments of $1,005 million during the same period in 2025. source
- As of June 30, 2026 and December 31, 2025, we had finance leases and other liabilities of $443 million and $441 million, respectively, with maturities ranging from 2026 to 2063 for both periods, respectively. source
- We had $314 million and $319 million of letters of credit outstanding under the Credit Facility as of June 30, 2026 and December 31, 2025, respectively. source
- Cash paid for interest was $260 million for the six months ended June 30, 2026 and $243 million for the six months ended June 30, 2025. source
- As of June 30, 2026, we had $548 million of principal debt maturing within the next 12 months, which includes certain finance lease obligations. source
- In the event of a failed remarketing, as of June 30, 2026, we had availability under our Credit Facility to fund the repurchase of these bonds until they are remarketed successfully. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| liability | negative | committed | -1.3% | As of June 30, 2026, we had $548 million of principal debt maturing within the next 12 months, which includes certain finance lease… |
| liability | positive | realized | +0.8% | Net payments for notes payable and long-term debt were $711 million during the six months ended June 30, 2026, compared to net payments of… |
| liability | positive | realized | +0.7% | We had $182 million and $425 million outstanding under the Credit Facility as of June 30, 2026 and December 31, 2025, respectively. |
| cash | positive | realized | +0.2% | Net cash paid for income taxes was $79 million and $150 million for the six months ended June 30, 2026 and 2025, respectively. |
| cash | negative | realized | -0.1% | Cash paid for interest was $260 million for the six months ended June 30, 2026 and $243 million for the six months ended June 30, 2025. |
| liability | negative | realized | -0.0% | As of June 30, 2026 and December 31, 2025, we had finance leases and other liabilities of $443 million and $441 million, respectively,… |
| liability | positive | realized | +0.0% | We had $314 million and $319 million of letters of credit outstanding under the Credit Facility as of June 30, 2026 and December 31, 2025,… |