| | |
Per
Note |
| |
Total
Notes |
| ||||||
Price to public(1)
|
| | | | 99.728% | | | | | $ | 747,960,000 | | |
保証割引
|
| | | | 0.650% | | | | | $ | 4,875,000 | | |
費用が差し引かれていない収益は私たちに(1)
|
| | | | 99.078% | | | | | $ | 743,085,000 | | |
| BofA Securities | | | J.P. Morgan | | |
MUFG
|
| |
Wells Fargo
Securities |
|
|
CIBC Capital Markets
|
| |
PNC Capital
Markets LLC |
| |
五三証券
|
| |
Truist Securities
|
|
|
US Bancorp
|
| |
TD Securities
|
| | Scotiabank | |
|
市民資本市場
|
| |
Zions Capital Markets
|
|
|
前向き陳述
|
| | | | S-3 | | |
|
SUMMARY
|
| | | | S-4 | | |
|
THE OFFERING
|
| | | | S-5 | | |
|
SUMMARY FINANCIAL DATA
|
| | | | S-8 | | |
|
RISK FACTORS
|
| | | | S-12 | | |
|
USE OF PROCEEDS
|
| | | | S-16 | | |
|
CAPITALIZATION
|
| | | | S-17 | | |
|
DESCRIPTION OF NOTES
|
| | | | S-18 | | |
|
あるアメリカ連邦所得税の考慮事項
|
| | | | S-30 | | |
|
カナダ連邦所得税のいくつかの考慮要因
|
| | | | S-33 | | |
|
ERISAの何らかの考慮事項
|
| | | | S-34 | | |
|
引受(利益衝突)
|
| | | | S-36 | | |
|
外国人に対する民事責任の実行可能性
|
| | | | S-42 | | |
|
LEGAL MATTERS
|
| | | | S-43 | | |
|
EXPERTS
|
| | | | S-43 | | |
|
参照によっていくつかの情報
を組み込む
|
| | | | S-43 | | |
|
どこでもっと情報を見つけることができますか
|
| | | | S-44 | | |
|
ABOUT THIS PROSPECTUS
|
| | | | 1 | | |
|
前向き陳述
|
| | | | 1 | | |
|
WASTE CONNECTIONS, INC.
|
| | | | 2 | | |
|
RISK FACTORS
|
| | | | 2 | | |
|
USE OF PROCEEDS
|
| | | | 2 | | |
|
債務証券説明
|
| | | | 2 | | |
|
GLOBAL SECURITIES
|
| | | | 9 | | |
|
PLAN OF DISTRIBUTION
|
| | | | 11 | | |
|
LEGAL MATTERS
|
| | | | 11 | | |
|
EXPERTS
|
| | | | 12 | | |
|
参照によっていくつかの情報
を組み込む
|
| | | | 12 | | |
|
どこでもっと情報を見つけることができますか
|
| | | | 12 | | |
| | |
Six Months Ended June 30,
|
| |
Year Ended December 31,
|
| ||||||||||||||||||||||||
| | |
2022
|
| |
2021
|
| |
2021
|
| |
2020
|
| |
2019
|
| |||||||||||||||
| | |
(unaudited)
|
| |
(audited)
|
| ||||||||||||||||||||||||
| | |
(in thousands of U.S. dollars)
|
| |||||||||||||||||||||||||||
財務諸表データ:
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Revenues
|
| | | $ | 3,462,690 | | | | | $ | 2,929,864 | | | | | $ | 6,151,361 | | | | | $ | 5,445,990 | | | | | $ | 5,388,679 | | |
Operating expenses: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Cost of operations
|
| | | | 2,077,410 | | | | | | 1,727,111 | | | | | | 3,654,074 | | | | | | 3,276,808 | | | | | | 3,198,757 | | |
販売、一般と行政管理
|
| | | | 331,818 | | | | | | 299,365 | | | | | | 612,337 | | | | | | 537,632 | | | | | | 546,278 | | |
Depreciation
|
| | | | 368,887 | | | | | | 326,324 | | | | | | 673,730 | | | | | | 621,102 | | | | | | 618,396 | | |
無形資産の償却
|
| | | | 75,098 | | | | | | 64,899 | | | | | | 139,279 | | | | | | 131,302 | | | | | | 125,522 | | |
減値と他の経営項目
|
| | | | 6,028 | | | | | | 6,715 | | | | | | 32,316 | | | | | | 466,718 | | | | | | 61,948 | | |
Operating income
|
| | | | 603,449 | | | | | | 505,160 | | | | | | 1,039,625 | | | | | | 412,428 | | | | | | 837,778 | | |
Interest expense
|
| | | | (86,404) | | | | | | (83,753) | | | | | | (162,796) | | | | | | (162,375) | | | | | | (147,368) | | |
Interest income
|
| | | | 790 | | | | | | 1,848 | | | | | | 2,916 | | | | | | 5,253 | | | | | | 9,777 | | |
Other income (expense), net
|
| | | | (6,114) | | | | | | 2,312 | | | | | | 6,285 | | | | | | (1,392) | | | | | | 5,704 | | |
債務損失を早期弁済
|
| | | | — | | | | | | — | | | | | | (115,288) | | | | | | — | | | | | | — | | |
所得税の前に準備
|
| | | | 511,721 | | | | | | 425,567 | | | | | | 770,742 | | | | | | 253,914 | | | | | | 705,891 | | |
Income tax provision
|
| | | | (107,146) | | | | | | (88,159) | | | | | | (152,253) | | | | | | (49,922) | | | | | | (139,210) | | |
Net income
|
| | | | 404,575 | | | | | | 337,408 | | | | | | 618,489 | | | | | | 203,992 | | | | | | 566,681 | | |
プラス(マイナス):非持株権益による純損失(収益)
|
| | | | (177) | | | | | | (52) | | | | | | (442) | | | | | | 685 | | | | | | 160 | | |
廃棄物の純収益(損失)
に起因する
Connections |
| | | $ | 404,398 | | | | | $ | 337,356 | | | | | $ | 618,047 | | | | | $ | 204,677 | | | | | $ | 566,841 | | |
| | |
Six Months Ended June 30,
|
| |
Year Ended December 31,
|
| ||||||||||||||||||||||||
| | |
2022
|
| |
2021
|
| |
2021
|
| |
2020
|
| |
2019
|
| |||||||||||||||
| | |
(unaudited)
|
| |
(audited)
|
| ||||||||||||||||||||||||
| | |
(in thousands of U.S. dollars)
|
| |||||||||||||||||||||||||||
BALANCE SHEET DATA: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Cash and equivalents
|
| | | $ | 217,808 | | | | | $ | 727,395 | | | | | $ | 147,441 | | | | | $ | 617,294 | | | | | $ | 326,738 | | |
運営資本黒字(赤字)
|
| | | | (79,818) | | | | | | 414,161 | | | | | | (199,969) | | | | | | 379,618 | | | | | | 123,370 | | |
Property and equipment, net
|
| | | | 5,858,175 | | | | | | 5,249,904 | | | | | | 5,721,949 | | | | | | 5,284,506 | | | | | | 5,516,347 | | |
Total assets
|
| | | | 15,416,241 | | | | | | 14,106,207 | | | | | | 14,699,924 | | | | | | 13,992,364 | | | | | | 13,737,695 | | |
長期債務と支払手形
|
| | | | 5,633,524 | | | | | | 4,762,857 | | | | | | 5,040,500 | | | | | | 4,708,678 | | | | | | 4,353,782 | | |
Total equity
|
| | | | 6,869,662 | | | | | | 6,868,600 | | | | | | 6,993,545 | | | | | | 6,863,438 | | | | | | 6,938,354 | | |
| | |
Six Months Ended June 30,
|
| |
Year Ended December 31,
|
| ||||||||||||||||||||||||
| | |
2022
|
| |
2021
|
| |
2021
|
| |
2020
|
| |
2019
|
| |||||||||||||||
| | |
(unaudited)
|
| |
(audited)
|
| ||||||||||||||||||||||||
| | |
(in thousands of U.S. dollars)
|
| |||||||||||||||||||||||||||
OTHER FINANCIAL DATA: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Adjusted EBITDA(a)
|
| | | $ | 1,068,934 | | | | | $ | 918,079 | | | | | $ | 1,919,158 | | | | | $ | 1,661,984 | | | | | $ | 1,673,554 | | |
Adjusted Free Cash Flow(a)
|
| | | $ | 638,362 | | | | | $ | 585,835 | | | | | $ | 1,009,598 | | | | | $ | 841,898 | | | | | $ | 916,777 | | |
| | |
Six Months Ended June 30,
|
| |
Years Ended December 31,
|
| ||||||||||||||||||||||||
| | |
2022
|
| |
2021
|
| |
2021
|
| |
2020
|
| |
2019
|
| |||||||||||||||
| | |
(unaudited)
|
| |
(audited)
|
| ||||||||||||||||||||||||
| | |
(in thousands of U.S. dollars)
|
| |||||||||||||||||||||||||||
は廃棄接続の純収入に起因することができる
|
| | | $ | 404,398 | | | | | $ | 337,356 | | | | | $ | 618,047 | | | | | $ | 204,677 | | | | | $ | 566,841 | | |
プラス(マイナス):帰属純収益(損失)
非持株権益 に譲渡 |
| | | | 177 | | | | | | 52 | | | | | | 442 | | | | | | (685) | | | | | | (160) | | |
Plus: Income tax provision
|
| | | | 107,146 | | | | | | 88,159 | | | | | | 152,253 | | | | | | 49,922 | | | | | | 139,210 | | |
Plus: Interest expense
|
| | | | 86,404 | | | | | | 83,753 | | | | | | 162,796 | | | | | | 162,375 | | | | | | 147,368 | | |
Less: Interest income
|
| | | | (790) | | | | | | (1,848) | | | | | | (2,916) | | | | | | (5,253) | | | | | | (9,777) | | |
プラス:減価償却と償却
|
| | | | 443,985 | | | | | | 391,523 | | | | | | 813,009 | | | | | | 752,404 | | | | | | 743,918 | | |
Plus: Closure and post-closure
accretion |
| | | | 8,087 | | | | | | 7,375 | | | | | | 14,497 | | | | | | 15,095 | | | | | | 14,471 | | |
付加:減値と他の経営項目
|
| | | | 6,028 | | | | | | 6,715 | | | | | | 32,316 | | | | | | 466,718 | | | | | | 61,948 | | |
Plus (less): Other expense (income),
net |
| | | | 6,114 | | | | | | (2,312) | | | | | | (6,285) | | | | | | 1,392 | | | | | | (5,704) | | |
プラス:債務損失を早期返済する
|
| | | | — | | | | | | — | | | | | | 115,288 | | | | | | — | | | | | | — | | |
Adjustments: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
プラス:取引関連費用(1)
|
| | | | 8,232 | | | | | | 583 | | | | | | 11,318 | | | | | | 9,803 | | | | | | 12,335 | | |
プラス:ある株式奨励の公正価値変化Σ(2)
|
| | | | (847) | | | | | | 6,723 | | | | | | 8,393 | | | | | | 5,536 | | | | | | 3,104 | | |
Adjusted EBITDA
|
| | | $ | 1,068,934 | | | | | $ | 918,079 | | | | | $ | 1,919,158 | | | | | $ | 1,661,984 | | | | | $ | 1,673,554 | | |
調整後のEBITDAが収入に占める割合
|
| | | | 30.9% | | | | | | 31.3% | | | | | | 31.2% | | | | | | 30.5% | | | | | | 31.1% | | |
| | |
Six Months Ended June 30,
|
| |
Years Ended December 31,
|
| ||||||||||||||||||||||||
| | |
2022
|
| |
2021
|
| |
2021
|
| |
2020
|
| |
2019
|
| |||||||||||||||
| | |
(unaudited)
|
| |
(audited)
|
| ||||||||||||||||||||||||
| | |
(in thousands of U.S. dollars)
|
| |||||||||||||||||||||||||||
運営が提供する純現金
activities |
| | | $ | 973,678 | | | | | $ | 848,478 | | | | | $ | 1,698,229 | | | | | $ | 1,408,521 | | | | | $ | 1,540,547 | | |
プラス(マイナス):帳簿貸越変動
|
| | | | (54) | | | | | | (190) | | | | | | (367) | | | | | | 1,096 | | | | | | (2,564) | | |
プラス:処分資産の収益
|
| | | | 16,894 | | | | | | 7,906 | | | | | | 42,768 | | | | | | 19,084 | | | | | | 3,566 | | |
減算:不動産と設備の資本支出
|
| | | | (371,428) | | | | | | (271,392) | | | | | | (744,315) | | | | | | (597,053) | | | | | | (634,406) | | |
マイナス:非持株権益
に割り当てる
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (570) | | |
Adjustments: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
収益額に記録されているものや対価格支払いがある(1)
|
| | | | — | | | | | | 520 | | | | | | 520 | | | | | | 10,371 | | | | | | — | | |
資産剥離受け取った現金(2)
|
| | | | (5,671) | | | | | | — | | | | | | (17,118) | | | | | | (10,673) | | | | | | (2,376) | | |
Transaction-related items(3)
|
| | | | 27,096 | | | | | | 583 | | | | | | 30,771 | | | | | | 9,803 | | | | | | 12,335 | | |
以前に存在した累進廃棄物シェア贈与(4)
|
| | | | 12 | | | | | | 144 | | | | | | 397 | | | | | | 5,770 | | | | | | 4,810 | | |
Tax effect(5)
|
| | | | (2,165) | | | | | | (214) | | | | | | (1,287) | | | | | | (5,021) | | | | | | (4,565) | | |
Adjusted Free Cash Flow
|
| | | $ | 638,362 | | | | | $ | 585,835 | | | | | $ | 1,009,598 | | | | | $ | 841,898 | | | | | $ | 916,777 | | |
調整後自由キャッシュフローが調整後EBITDAのパーセンテージ
を占める
|
| | | | 59.7% | | | | | | 63.8% | | | | | | 52.6% | | | | | | 50.7% | | | | | | 54.8% | | |
| | |
As of June 30, 2022
|
| |||||||||
| | |
Actual
|
| |
As Adjusted
|
| ||||||
| | |
(in thousands of U.S. dollars)
|
| |||||||||
Cash and equivalents
|
| | | $ | 217,808 | | | | | $ | 208,765 | | |
長期債務と支払手形: | | | | | | | | | | | | | |
クレジットプロトコルでの譲渡金(1)
|
| | | $ | 901,980 | | | | | $ | 151,980 | | |
クレジットプロトコルでの定期ローン
|
| | | | 650,000 | | | | | | 650,000 | | |
Existing senior notes
|
| | | | 4,100,000 | | | | | | 4,100,000 | | |
Notes offered hereby
|
| | | | — | | | | | | 750,000 | | |
売り手と他の第三者のチケットに対応
|
| | | | 46,300 | | | | | | 46,300 | | |
長期債務と支払手形総額
|
| | | $ | 5,698,280 | | | | | $ | 5,698,280 | | |
Equity: | | | | | | | | | | | | | |
Common shares
|
| | | $ | 3,270,242 | | | | | $ | 3,270,242 | | |
新規実収資本
|
| | | | 210,767 | | | | | | 210,767 | | |
他の総合収益
を累積
|
| | | | 41,438 | | | | | | 41,438 | | |
Retained earnings
|
| | | | 3,342,431 | | | | | | 3,342,431 | | |
Total Waste Connectionsの持分
|
| | | | 6,864,878 | | | | | | 6,864,878 | | |
子会社の非持株権益
|
| | | | 4,784 | | | | | | 4,784 | | |
Total equity
|
| | | $ | 6,869,662 | | | | | $ | 6,869,662 | | |
Total capitalization
|
| | | $ | 12,567,942 | | | | | $ | 12,567,942 | | |
Underwriter
|
| |
Principal amount
of Notes |
| |||
アメリカ銀行証券会社
|
| | | $ | 138,462,000 | | |
モルガン大通証券有限責任会社
|
| | | | 138,462,000 | | |
三菱UFG証券アメリカ会社
|
| | | | 94,615,000 | | |
富国証券有限責任会社
|
| | | | 93,462,000 | | |
CIBC World Markets Corp
|
| | | | 58,269,000 | | |
PNC資本市場有限責任会社
|
| | | | 58,269,000 | | |
五三証券株式会社
|
| | | | 44,423,000 | | |
Truist証券会社
|
| | | | 44,423,000 | | |
アメリカのBancorp投資会社
|
| | | | 20,192,000 | | |
道明証券(米国)有限会社
|
| | | | 20,192,000 | | |
スコシア資本(米国)有限会社
|
| | | | 20,192,000 | | |
市民資本市場会社
|
| | | | 12,404,000 | | |
Zions Direct, Inc.
|
| | | | 6,635,000 | | |
Total
|
| | | $ | 750,000,000 | | |
| | |
Paid by us
|
| |||
Per note
|
| | | | 0.650% | | |
|
ABOUT THIS PROSPECTUS
|
| | | | 1 | | |
|
前向き陳述
|
| | | | 1 | | |
|
WASTE CONNECTIONS, INC.
|
| | | | 2 | | |
|
RISK FACTORS
|
| | | | 2 | | |
|
USE OF PROCEEDS
|
| | | | 2 | | |
|
債務証券説明
|
| | | | 2 | | |
|
GLOBAL SECURITIES
|
| | | | 9 | | |
|
PLAN OF DISTRIBUTION
|
| | | | 11 | | |
|
LEGAL MATTERS
|
| | | | 11 | | |
|
EXPERTS
|
| | | | 12 | | |
|
参照によっていくつかの情報
を組み込む
|
| | | | 12 | | |
|
どこでもっと情報を見つけることができますか
|
| | | | 12 | | |