| Summarized financial information concerning reportable segments |
Summarized financial information concerning our reportable segments for the three months ended March 31, 2024 and 2023 follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Group 1 | | Group 2 | | Recycling & Waste Subtotal (1) | | Group 3
(Environmental Solutions) | | Corporate entities and other | | Total | | Three Months Ended March 31, 2024 | | Gross Revenue | $ | 2,018.0 | | | $ | 1,913.2 | | | $ | 3,931.2 | | | $ | 428.4 | | | $ | 79.6 | | | $ | 4,439.2 | | | Intercompany Revenue | (300.7) | | | (248.4) | | | (549.1) | | | (11.4) | | | (17.0) | | | (577.5) | | | Revenue allocations | 29.1 | | | 27.2 | | | 56.3 | | | 6.3 | | | (62.6) | | | — | | | Net Revenue | $ | 1,746.4 | | | $ | 1,692.0 | | | $ | 3,438.4 | | | $ | 423.3 | | | $ | — | | | $ | 3,861.7 | | | Adjusted EBITDA | $ | 558.8 | | | $ | 519.0 | | | $ | 1,077.8 | | | $ | 86.7 | | | $ | — | | | $ | 1,164.5 | | | | | | | | | | | | | | | Capital Expenditures | $ | 186.5 | | | $ | 120.7 | | | $ | 307.2 | | | $ | 34.7 | | | $ | 172.6 | | | $ | 514.5 | | | Total Assets | 13,632.1 | | | 10,929.6 | | | $ | 24,561.7 | | | $ | 4,374.8 | | | $ | 2,445.2 | | | $ | 31,381.7 | | | | | | | | | | | | | | Three Months Ended March 31, 2023 | | Gross Revenue | $ | 1,840.3 | | | $ | 1,818.3 | | | $ | 3,658.6 | | | $ | 421.2 | | | $ | 67.4 | | | $ | 4,147.2 | | | Intercompany Revenue | (287.1) | | | (242.6) | | | (529.7) | | | (14.8) | | | (21.6) | | | (566.1) | | | Revenue allocations | 22.3 | | | 21.6 | | | 43.9 | | | 1.9 | | | (45.8) | | | — | | | Net Revenue | $ | 1,575.5 | | | $ | 1,597.3 | | | $ | 3,172.8 | | | $ | 408.3 | | | $ | — | | | $ | 3,581.1 | | | Adjusted EBITDA | $ | 489.4 | | | $ | 464.9 | | | $ | 954.3 | | | $ | 85.7 | | | $ | — | | | $ | 1,040.0 | | | | | | | | | | | | | | | Capital Expenditures | $ | 112.5 | | | $ | 85.3 | | | $ | 197.8 | | | $ | 22.4 | | | $ | 158.4 | | | $ | 378.6 | | | Total Assets | $ | 12,357.4 | | | $ | 10,630.9 | | | $ | 22,988.3 | | | $ | 3,992.2 | | | $ | 2,100.9 | | | $ | 29,081.4 | |
(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: | | | | | | | | | | | | | | | | | Three Months Ended March 31, | | | | 2024 | | 2023 | | | | | | Group 1 Adjusted EBITDA | $ | 558.8 | | | $ | 489.4 | | | | | | | Group 2 Adjusted EBITDA | 519.0 | | | 464.9 | | | | | | | Group 3 Adjusted EBITDA | 86.7 | | | 85.7 | | | | | | | Total Adjusted EBITDA | 1,164.5 | | | 1,040.0 | | | | | | | Other income, net | (12.6) | | | (2.5) | | | | | | | Interest income | (1.5) | | | (1.4) | | | | | | | Interest expense | 139.3 | | | 126.7 | | | | | | | Depreciation, amortization and depletion | 399.2 | | | 358.7 | | | | | | | Accretion | 26.6 | | | 24.1 | | | | | | | Loss (income) from unconsolidated equity method investment | 8.7 | | | (1.0) | | | | | | | Loss on extinguishment of debt and other related costs | — | | | 0.2 | | | | | | | Restructuring charges | 5.9 | | | 5.5 | | | | | | | | | | | | | | | US Ecology, Inc. acquisition integration and deal costs | — | | | 7.6 | | | | | | | | | | | | | | | Income before income taxes | $ | 598.9 | | | $ | 522.1 | | | | | |
|