| Summarized financial information concerning our reportable segments |
Summarized financial information concerning our reportable segments for the years ended December 31, 2023, 2022 and 2021 follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Group 1 | | Group 2 | | Recycling & Waste Subtotal(1) | | Group 3
(Environmental Solutions) | | Corporate entities and other | | Total | | 2023 | | Gross Revenue | $ | 7,769.2 | | | $ | 7,563.2 | | | $ | 15,332.4 | | | $ | 1,703.6 | | | $ | 242.7 | | | $ | 17,278.7 | | | Intercompany Revenue | (1,170.8) | | | (1,008.4) | | | (2,179.2) | | | (58.8) | | | (76.2) | | | (2,314.2) | | | Revenue Allocations | 95.8 | | | 90.6 | | | 186.4 | | | (19.9) | | | (166.5) | | | — | | | Net Revenue | $ | 6,694.2 | | | $ | 6,645.4 | | | $ | 13,339.6 | | | $ | 1,624.9 | | | $ | — | | | $ | 14,964.5 | | | Adjusted EBITDA | $ | 2,134.7 | | | $ | 1,964.0 | | | $ | 4,098.7 | | | $ | 348.4 | | | $ | — | | | $ | 4,447.1 | | | | | | | | | | | | | | | Capital Expenditures | $ | 707.4 | | | $ | 540.1 | | | $ | 1,247.5 | | | $ | 146.2 | | | $ | 237.4 | | | $ | 1,631.1 | | | Total Assets | $ | 13,665.1 | | | $ | 10,959.5 | | | $ | 24,624.6 | | | $ | 4,481.3 | | | $ | 2,304.2 | | | $ | 31,410.1 | | | | | | | | | | | | | | | 2022 | | Gross Revenue | $ | 7,106.6 | | | $ | 7,028.6 | | | $ | 14,135.2 | | | $ | 1,262.5 | | | $ | 247.5 | | | $ | 15,645.2 | | | Intercompany Revenue | (1,089.6) | | | (945.0) | | | (2,034.6) | | | (46.6) | | | (52.7) | | | (2,133.9) | | | Revenue Allocations | 103.5 | | | 99.0 | | | 202.5 | | | (7.7) | | | (194.8) | | | — | | | Net Revenue | $ | 6,120.5 | | | $ | 6,182.6 | | | $ | 12,303.1 | | | $ | 1,208.2 | | | $ | — | | | $ | 13,511.3 | | | Adjusted EBITDA | $ | 1,967.4 | | | $ | 1,750.8 | | | $ | 3,718.2 | | | $ | 211.1 | | | $ | — | | | $ | 3,929.3 | | | | | | | | | | | | | | | Capital Expenditures | $ | 620.1 | | | $ | 533.5 | | | $ | 1,153.6 | | | $ | 141.7 | | | $ | 158.7 | | | $ | 1,454.0 | | | Total Assets | $ | 12,418.1 | | | $ | 10,509.8 | | | $ | 22,927.9 | | | $ | 4,086.3 | | | $ | 2,038.7 | | | $ | 29,052.9 | | | | | | | | | | | | | | | 2021 | | Gross Revenue | $ | 6,511.1 | | | $ | 6,338.0 | | | $ | 12,849.1 | | | $ | 242.4 | | | $ | 229.6 | | | $ | 13,321.1 | | | Intercompany Revenue | (1,056.8) | | | (919.3) | | | (1,976.1) | | | (19.5) | | | (30.5) | | | (2,026.1) | | | Revenue Allocations | 102.6 | | | 96.5 | | | 199.1 | | | — | | | (199.1) | | | — | | | Net Revenue | $ | 5,556.9 | | | $ | 5,515.2 | | | $ | 11,072.1 | | | $ | 222.9 | | | $ | — | | | $ | 11,295.0 | | | Adjusted EBITDA | $ | 1,812.8 | | | $ | 1,526.1 | | | $ | 3,338.9 | | | $ | 44.6 | | | $ | — | | | $ | 3,383.5 | | | | | | | | | | | | | | | Capital Expenditures | $ | 601.9 | | | $ | 541.8 | | | $ | 1,143.7 | | | $ | 50.8 | | | $ | 121.8 | | | $ | 1,316.3 | | | Total Assets | $ | 12,199.2 | | | $ | 9,926.9 | | | $ | 22,126.1 | | | $ | 1,211.6 | | | $ | 1,617.3 | | | $ | 24,955.0 | |
(1) The Recycling & Waste Subtotal represents the combined results of our Group 1 and Group 2 reportable segments. |
| Schedule of Adjusted EBITDA and EBITDA Margin |
A reconciliation of the Company's single measure of segment profitability (segment Adjusted EBITDA) to Income before income tax provision in the Consolidated Statements of Net Income is as follows for the years ended December 31, 2023, 2022 and 2021 (in millions of dollars and as a percentage of revenue): | | | | | | | | | | | | | | | | | | | | | | 2023 | | 2022 | | 2021 | | | Group 1 Adjusted EBITDA | $ | 2,134.7 | | | $ | 1,967.4 | | | $ | 1,812.8 | | | | Group 2 Adjusted EBITDA | 1,964.0 | | | 1,750.8 | | | 1,526.1 | | | | Group 3 Adjusted EBITDA | 348.4 | | | 211.1 | | | 44.6 | | | | Total Adjusted EBITDA | 4,447.1 | | | 3,929.3 | | | 3,383.5 | | | | Other expense (income), net | (7.5) | | | 2.3 | | | 0.5 | | | | Interest income | (6.5) | | | (3.3) | | | (2.5) | | | | Interest expense | 508.2 | | | 395.6 | | | 314.6 | | | | Depreciation, amortization and depletion | 1,501.4 | | | 1,351.6 | | | 1,185.5 | | | | Accretion | 97.9 | | | 89.6 | | | 82.7 | | | | Loss from unconsolidated equity method investments | 94.3 | | | 165.6 | | | 188.5 | | | Adjustment to withdrawal liability for multiemployer pension funds | 4.5 | | | (1.6) | | | — | | | | Restructuring charges | 33.2 | | | 27.0 | | | 16.6 | | | | (Gain) loss on business divestitures and impairments, net | (3.6) | | | (6.3) | | | 0.5 | | | | US Ecology, Inc. acquisition integration and deal costs | 33.5 | | | 77.3 | | | — | | | | Accelerated vesting of compensation expense for CEO transition | — | | | — | | | 22.0 | | | | Loss on extinguishment of debt and other related costs | 0.2 | | | — | | | — | | | | Income before income taxes | $ | 2,191.5 | | | $ | 1,831.5 | | | $ | 1,575.1 | | |
|