Rollins (ROL) 10-K 25 Feb 22 2021 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Dec. 31, 2021	Jan. 31, 2022	Jun. 30, 2021
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
ICFR Auditor Attestation Flag	true
Auditor Name	GRANT THORNTON LLP
Auditor Firm ID	248
Auditor Location	Atlanta, Georgia
Document Transition Report	false
Document Period End Date	Dec. 31, 2021
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2021
Current Fiscal Year End Date	--12-31
Entity File Number	1-4422
Entity Registrant Name	ROLLINS, INC.
Entity Central Index Key	0000084839
Entity Tax Identification Number	51-0068479
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	2170 Piedmont Road, N.E.
Entity Address, City or Town	Atlanta
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	30324
City Area Code	(404)
Local Phone Number	888-2000
Title of 12(b) Security	Common Stock, $1 Par Value
Trading Symbol	ROL
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 7,888,772,207
Entity Common Stock, Shares Outstanding		492,085,707

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
ASSETS
Cash and cash equivalents	$ 105,301	$ 98,477
Trade receivables, net of allowance for expected credit losses of $13,885 and $16,854, respectively	139,579	126,337
Financed receivables, short-term, net of allowance for expected credit losses of $1,463 and $1,297, respectively	26,152	23,716
Materials and supplies	28,926	30,843
Other current assets	52,422	35,404
Total current assets	352,380	314,777
Equipment and property, net of accumulated depreciation of $315,891 and $294,226, respectively	133,257	178,052
Goodwill	721,819	653,176
Operating lease right-of-use assets	244,784	212,342
Financed receivables, long-term, net of allowance for expected credit losses of $2,522 and $1,934, respectively	47,097	38,187
Other assets	34,949	30,596
Total assets	1,980,870	1,845,900
LIABILITIES
Accounts payable	44,568	64,596
Accrued insurance	36,414	31,675
Accrued compensation and related liabilities	97,862	91,011
Unearned revenues	145,122	131,253
Operating lease liabilities - current	75,240	73,248
Current portion of long-term debt	18,750	17,188
Other current liabilities	73,206	63,540
Total current liabilities	491,162	472,511
Accrued insurance, less current portion	31,545	36,067
Operating lease liabilities, less current portion	172,520	140,897
Long-term debt	136,250	185,812
Deferred income tax liabilities	13,255	10,612
Other long-term accrued liabilities	54,090	58,641
Total liabilities	898,822	904,540
Commitments and contingencies
Preferred stock, without par value; 500,000 shares authorized, zero shares issued
Common stock, par value $1 per share; 800,000,000 shares authorized, 491,911,087 and 491,612,059 shares issued and outstanding, respectively	491,911	491,612
Additional paid in capital	105,629	101,757
Accumulated other comprehensive loss	(16,411)	(10,897)
Retained earnings	500,919	358,888
Total stockholders' equity	1,082,048	941,360
Total liabilities and stockholders' equity	1,980,870	1,845,900
Customer Contracts, Net
ASSETS
Intangible assets, net	325,929	298,949
Trademarks & Tradenames, Net
ASSETS
Intangible assets, net	108,976	109,044
Other Intangible Assets, Net
ASSETS
Intangible assets, net	$ 11,679	$ 10,777

CONSOLIDATED STATEMENTS OF FI_2

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Trade receivables, allowance for doubtful accounts	$ 13,885	$ 16,854
Financing receivables, short-term, allowance for doubtful accounts	1,463	1,297
Net of Accumulated Decpreciation	315,891	294,226
Financing receivables, long-term, allowance for doubtful accounts	$ 2,522	$ 1,934
Preferred Stock, Shares Authorized	500,000	500,000
Preferred Stock, Shares Issued	0	0
Common Stock, Par or Stated Value Per Share	$ 1	$ 1
Common Stock, Shares Authorized	800,000,000	800,000,000
Common Stock, Shares, Issued	491,911,087	491,612,059
Common Stock, Shares, Outstanding	491,911,087	491,612,059

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
REVENUES
Customer services	$ 2,424,300	$ 2,161,220	$ 2,015,477
COSTS AND EXPENSES
Cost of services provided (exclusive of depreciation and amortization below)	1,162,617	1,048,592	993,593
Sales, general and administrative	727,489	656,207	623,379
Depreciation and amortization	94,205	88,329	81,111
Total operating expenses	1,984,311	1,793,128	1,698,083
OPERATING INCOME	439,989	368,092	317,394
Interest expense, net	830	5,082	6,917
Other (income) expense, net	(35,679)	8,290	49,317
CONSOLIDATED INCOME BEFORE INCOME TAXES	474,838	354,720	261,160
PROVISION FOR INCOME TAXES	124,151	93,896	57,813
NET INCOME	$ 350,687	$ 260,824	$ 203,347
NET INCOME PER SHARE - BASIC	$ 0.71	$ 0.53	$ 0.41
NET INCOME PER SHARE - DILUTED	0.71	0.53	0.41
DIVIDENDS PAID PER SHARE	$ 0.42	$ 0.33	$ 0.31
Weighted average shares outstanding - basic	492,054	491,604	491,216
Weighted average shares outstanding - diluted	492,054	491,604	491,216

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Statement [Abstract]
NET INCOME	$ 350,687	$ 260,824	$ 203,347
Other comprehensive income / (loss), net of tax:
Pension and other postretirement benefit plans		(127)	45,896
Foreign currency translation adjustments	(5,895)	10,443	4,350
Change in derivatives	381	(104)	(277)
Other comprehensive (loss) income, net of tax	(5,514)	10,212	49,969
Comprehensive income	$ 345,173	$ 271,036	$ 253,316

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS EQUITY - USD ($) $ in Thousands	Common Stock	Treasury	Additional Paid-in Capital	Accumulated Other Comprehensive Income/(Loss)	Retained EarningsImpact of adoption of ASC	Retained Earnings	Impact of adoption of ASC	Total
Impact of adoption of ASC	$ 490,962		$ 85,386	$ (71,078)		$ 206,638		$ 711,908
Beginning balance, value at Dec. 31, 2018	$ 490,962		85,386	(71,078)		206,638		711,908
Beginning Balance, Shares at Dec. 31, 2018	490,962,000
Net income						203,347		203,347
Other comprehensive income / (loss), net of tax:
Pension settlement loss, net of tax				46,022
Pension liability adjustment, net of tax				126				126
Foreign currency translation adjustments				4,350				4,350
Interest rate swaps, net of tax				(277)
Cash dividends						(153,836)		(153,836)
Stock compensation	$ 580		13,772			(193)		14,159
Stock compensation, Shares	580,000
Employee stock buybacks	$ (396)		(9,745)			132		(10,009)
Employee stock buybacks, Shares	(396,000)
Ending balance, value (Adoption of ASC 842) at Dec. 31, 2019					$ 212
Ending balance, value at Dec. 31, 2019	$ 491,146		89,413	(21,109)		256,300		815,750
Ending Balance, Shares at Dec. 31, 2019	491,146,000
Impact of adoption of ASC | Adoption of ASC 842					212
Impact of adoption of ASC	$ 491,146		89,413	(21,109)		256,300		815,750
Net income						260,824		260,824
Other comprehensive income / (loss), net of tax:
Pension liability adjustment, net of tax				(127)				(127)
Foreign currency translation adjustments				10,443				10,443
Interest rate swaps, net of tax				(104)				(104)
Cash dividends						(160,487)		(160,487)
Stock compensation	$ 802		20,315			(267)		20,850
Stock compensation, Shares	802,000
Employee stock buybacks	$ (336)		(7,971)			32		(8,275)
Employee stock buybacks, Shares	(336,000)
Ending balance, value (Adoption of ASC 326) at Dec. 31, 2020					2,486		$ 2,486
Ending balance, value at Dec. 31, 2020	$ 491,612		101,757	(10,897)		358,888		941,360
Ending Balance, Shares at Dec. 31, 2020	491,612,000
Impact of adoption of ASC | Adoption of ASC 326					$ 2,486		$ 2,486
Impact of adoption of ASC	$ 491,612		101,757	(10,897)		358,888		941,360
Net income						350,687		350,687
Other comprehensive income / (loss), net of tax:
Foreign currency translation adjustments				(5,895)				(5,895)
Interest rate swaps, net of tax				381				381
Cash dividends						(208,656)		(208,656)
Stock compensation	$ 593		14,272					14,865
Stock compensation, Shares	593,000
Employee stock buybacks	$ (294)		(10,400)					(10,694)
Employee stock buybacks, Shares	(294,000)
Ending balance, value at Dec. 31, 2021	$ 491,911		105,629	(16,411)		500,919		1,082,048
Ending Balance, Shares at Dec. 31, 2021	491,911,000
Impact of adoption of ASC	$ 491,911		$ 105,629	$ (16,411)		$ 500,919		$ 1,082,048

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
OPERATING ACTIVITIES
Net income	$ 350,687	$ 260,824	$ 203,347
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	94,205	88,329	81,111
Pension settlement loss			49,898
Stock-based compensation expense	14,865	20,850	14,158
Provision for expected credit losses	15,285	17,536	15,145
(Gain) loss on sale of assets, net	(35,679)	1,598	(581)
Provision for deferred income taxes	1,652	(1,215)	(7,228)
Changes in operating assets and liabilities
Trade accounts receivables and other accounts receivables	(22,439)	(12,045)	(20,151)
Financing receivables	(14,473)	(11,787)	(9,080)
Materials and supplies	2,644	(10,706)	(2,151)
Other current assets	(11,159)	6,847	(13,147)
Accounts payable and accrued expenses	1,421	50,061	5,611
Unearned revenue	11,934	7,276	5,424
Other long-term assets and liabilities	(7,138)	18,217	(2,783)
Net cash provided by operating activities	401,805	435,785	319,573
INVESTING ACTIVITIES
Acquisitions, net of cash acquired	(146,098)	(147,613)	(430,558)
Capital expenditures	(27,194)	(23,229)	(27,146)
Proceeds from sale of assets	74,438	7,700	1,758
Other investing activities, net	(111)	747	839
Net cash (used in) investing activities	(98,965)	(162,395)	(455,107)
FINANCING ACTIVITIES
Payment of contingent consideration	(22,809)	(24,011)	(15,969)
Borrowings under term loan			250,000
Borrowings under revolving commitment	206,500	135,000	190,000
Repayments of term loan	(88,000)	(54,000)	(60,000)
Repayments of revolving commitment	(166,500)	(169,500)	(88,500)
Payment of dividends	(208,656)	(160,487)	(153,836)
Cash paid for common stock purchased	(10,694)	(8,275)	(10,009)
Net cash (used in) provided by financing activities	(290,159)	(281,273)	111,686
Effect of exchange rate changes on cash	(5,857)	12,084	2,639
Net increase (decrease) in cash and cash equivalents	6,824	4,201	(21,209)
Cash and cash equivalents at beginning of period	98,477	94,276	115,485
Cash and cash equivalents at end of period	105,301	98,477	94,276
Supplemental disclosure of cash flow information:
Cash paid for interest	1,313	5,056	6,452
Cash paid for income taxes, net	119,762	81,184	75,812
Non-cash additions to operating lease right-of-use assets	$ 116,594	$ 89,016	$ 75,782

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Supplemental Disclosures of Non-Cash Items
Non-cash decrease (increase) in the minimum pension liability	$ 0	$ (0.2)	$ 75.4
Non-cash acquisitions of assets in business combinations	17.7	$ 12.6	$ 34.2
Non-cash acquisition holdback and earnout liabilities	$ 14.5

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Business Description Principles of Consolidation Subsequent Events Use of Estimates The Company considered the impact of COVID-19 on the assumptions and estimates used in preparing the consolidated financial statements. In the opinion of management, all adjustments necessary for a fair presentation of the Company’s financial results for the year have been made. These adjustments are of a normal recurring nature but complicated by the uncertainty surrounding the global economic impact of COVID-19. The results of operations for the year ended December 31, 2021 are not necessarily indicative of results for future years. The severity, magnitude and duration, as well as the economic consequences of COVID-19, are uncertain, rapidly changing and difficult to predict. Therefore, our accounting estimates and assumptions may change over time in response to COVID-19 and may change materially in future periods Revenue Recognition Nature of Goods and Services and Performance Obligations The Company contracts with its customers to provide the following goods and services, each of which is a distinct performance obligation: Pest control services - The Company’s revenue recognition policies are designed to recognize revenues upon satisfaction of the performance obligation at the time services are performed. For certain revenue types, because of the timing of billing and the receipt of cash versus the timing of performing services, we use estimates as described below. Residential and commercial pest control services are primarily recurring in nature on a monthly, bi-monthly or quarterly basis, while certain types of commercial customers may receive multiple treatments within a given month. In general, pest control customers sign an initial one-year contract, and revenues are recognized at the time services are performed. The Company defers recognition of advance payments and recognizes the revenue as the services are rendered. The Company classifies discounts related to the advance payments as a reduction in revenues. Termite control services - Maintenance/monitoring/inspection - Termite baiting revenues are recognized based on the transfer of control of the individual units of accounting. At the inception of a new baiting services contract, upon quality control review of the installation, the Company recognizes revenue for the installation of the monitoring stations, initial directed liquid termiticide treatment and servicing of the monitoring stations. A portion of the contract amount is deferred for the undelivered monitoring performance obligation. This portion is recognized as income on a straight-line basis over the remaining contract term, which results in recognition of revenue that depicts the Company’s performance in transferring control of the service. The allocation of the transaction price to the two deliverables is based on the relative stand-alone selling price. There are no contingencies related to the delivery of additional items or meeting other specified performance conditions. Baiting renewal revenue is deferred and recognized over the annual contract period on a straight-line basis that depicts the Company’s performance in transferring control of the service. Revenue received for conventional termite renewals is deferred and recognized on a straight-line basis over the remaining contract term that depicts the Company’s performance in transferring control of the service; and, the cost of reinspections, reapplications and repairs and associated labor and chemicals are expensed as incurred. For outstanding claims, an estimate is made of the costs to be incurred (including legal costs) based upon current factors and historical information. The performance of reinspections tends to be close to the contract renewal date, and while reapplications and repairs involve an insubstantial number of the contracts, these costs are incurred over the contract term. As the revenue is being deferred, the future cost of reinspections, reapplications and repairs and associated labor and chemicals applicable to the deferred revenue are expensed as incurred. The Company accrues for noticed claims. The costs of providing termite services upon renewal are compared to the expected revenue to be received and a provision is made for any expected losses. Miscellaneous services - Products - Equipment rental (or lease) - Contract Balances Timing of revenue recognition may differ from the timing of invoicing to customers. We record unearned revenue when revenue is recognized subsequent to billing. Unearned revenue mainly relates to the Company’s termite baiting offering, conventional renewals, and year-in-advance pest control services for which we have been paid in advance and earn the revenue when we transfer control of the product or service. For multi-year agreements, we generally invoice customers annually at the beginning of each annual coverage period. Refer to Note 3 - Revenue for further information, including changes in unearned revenue for the year. The Company extends terms to certain customers on higher dollar termite and ancillary work, as well as to certain franchisees for initial funding on the sale of franchises. These financed receivables are segregated from our trade receivables. The allowance for expected credit losses reflects our best estimate of probable losses inherent in the accounts receivable balance. We determine the allowance based on known troubled accounts, historical experience, and other currently available evidence. See Note 5 – Allowance for Credit Losses for further information. Payment terms and conditions vary by contract type, although terms generally include a requirement of payment within 30 to 60 days. In instances where the timing of revenue recognition differs from the timing of invoicing, we have determined our contracts generally do not include a significant financing component. The primary purpose of our invoicing terms is to provide customers with simplified and predictable ways of purchasing our products and services, not to receive financing from our customers or to provide customers with financing. Practical Expedients and Exemptions We generally expense sales commissions when incurred because the amortization period would have been one year or less. These costs are recorded within sales and marketing expenses. We do not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts for which we recognize revenue at the amount to which we have the right to invoice for services performed. All revenues are reported net of sales taxes. The Company’s international operations accounted for approximately 8%, 7%, and 8% of revenues for the years ended December 31, 2021, 2020, and 2019 respectively. Allowance for Expected Credit Losses Advertising ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years ended December 31, 2021 2020 2019 (in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ Advertising ​ $ 91,879 ​ $ 86,314 ​ $ 81,174 ​ Cash and Cash Equivalents ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31, 2021 2020 2019 (in thousands) (in US dollars) ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash held in foreign bank accounts ​ $ 78,102 ​ $ 71,330 ​ $ 74,094 ​ The Company’s $105.3 million of total cash at December 31, 2021, is primarily cash held at various banking institutions. Approximately $78.1 million is held in cash accounts at international banking institutions and the remaining $27.2 million is primarily held in Federal Deposit Insurance Corporation (“FDIC”) insured non-interest-bearing accounts at various domestic banks which at times may exceed federally insured amounts. The Company’s international business is expanding, and we intend to continue to grow the business in foreign markets in the future through reinvestment of foreign deposits and future earnings as well as potential acquisitions of unrelated companies. Repatriation of cash from the Company’s foreign subsidiaries is not a part of the Company’s current business plan. Rollins maintains adequate liquidity and capital resources, without regard to its foreign deposits, that are directed to finance domestic operations and obligations and to fund expansion of its domestic business for the foreseeable future. Marketable Securities Management determines the appropriate classification of debt securities at the time of purchase and re-evaluates such designations as of each balance sheet date. Debt securities are classified as available-for-sale because the Company does not have the intent to hold the securities to maturity. Available-for-sale securities are stated at their fair values, with the unrealized gains and losses reported in earnings. The Company had no marketable securities other than those held in the defined benefit pension plan and the non-qualified deferred compensation plan at December 31, 2021 and 2020. See Note 14 for further details. Materials and Supplies Other Current Assets Income Taxes Equipment and Property 10 operating equipment 2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years ended December 31, 2021 2020 2019 (in thousands) ​ ​ ​ ​ ​ ​ Depreciation ​ $ 40,592 ​ $ 40,623 ​ $ 36,646 ​ Certain internal-use software and systems development costs are capitalized. Accordingly, the specific identified costs incurred to develop and obtain software, which is intended for internal use, are not capitalized until the software is put into use. Management, with the relevant authority, authorizes and commits to funding a software project and it is probable that the project will be completed and the software will be used to perform the function intended. Costs incurred during a software development’s discovery phase and post-integration stage, are expensed as incurred. Application development activities that are eligible for capitalization include software design and configuration, development of interfaces, coding, testing and installation. Capitalized internal-use software and systems costs are subsequently amortized on a straight-line basis over a three ​ Impairment of Long-Lived Assets - “Property, Plant and Equipment” Goodwill and Other Intangible Assets “Intangibles - Goodwill and other” may Other Assets – Accrued Insurance Accrual for Termite Contracts Other Current Liabilities Other Long-term Accrued Liabilities Contingency Accruals “Contingencies,” Earnings Per Share “Earnings Per Share-Overall,” The Company has periodically issued share-based payment awards that contain non-forfeitable rights to dividends and therefore are considered participating securities. See Note 15 for further information on restricted stock granted to employees. The basic and diluted calculations are the same as we have no stock options or other potentially dilutive instruments outstanding. Basic and diluted earnings per share are computed by dividing net income by the weighted average number of shares outstanding during the respective periods. A reconciliation of weighted average shares outstanding along with the earnings per share attributable to restricted shares of common stock (participating securities) is as follows (in thousands except per share data). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years Ended December 31, 2021 2020 2019 Net income available to stockholders ​ $ 350,687 ​ $ 260,824 ​ $ 203,347 Less dividends paid: ​ ​ ​ Common stock ​ (207,482) ​ (159,524) ​ (152,793) Restricted shares of common stock ​ (1,174) ​ (963) ​ (1,042) Undistributed earnings for the period ​ $ 142,031 ​ $ 100,337 ​ $ 49,512 Allocation of undistributed earnings: ​ ​ ​ Common stock ​ 141,224 ​ 99,676 ​ 49,144 Restricted shares of common stock ​ 807 ​ 661 ​ 368 Basic and diluted shares outstanding: ​ ​ ​ Common stock ​ 489,259 ​ 488,364 ​ 487,569 Restricted shares of common stock ​ 2,795 ​ 3,240 ​ 3,647 ​ ​ 492,054 ​ 491,604 ​ 491,216 Basic and diluted earnings per share: ​ ​ ​ Common stock: ​ ​ ​ Distributed earnings ​ $ 0.42 ​ $ 0.33 ​ $ 0.31 Undistributed earnings ​ 0.29 ​ 0.20 ​ 0.10 ​ ​ $ 0.71 ​ $ 0.53 ​ $ 0.41 Restricted shares of common stock: ​ ​ ​ Distributed earnings ​ $ 0.42 ​ $ 0.30 ​ $ 0.29 Undistributed earnings ​ 0.29 ​ 0.20 ​ 0.10 ​ ​ $ 0.71 ​ $ 0.50 ​ $ 0.39 ​ Translation of Foreign Currencies The resulting translation adjustments are charged or credited to other comprehensive income. Gains or losses from foreign currency transactions, such as those resulting from the settlement of receivables or payables, denominated in foreign currency are included in the earnings of the current period. Stock-Based Compensation Compensation – Stock Compensation TLRSs provide for the issuance of a share of the Company’s common stock at no cost to the holder and generally vest after a certain stipulated number of years from the grant date, depending on the terms of the issue. Outstanding TLRSs vest in 20 percent increments starting with the second anniversary of the grant, over six years from the date of grant. During these years, grantees receive all dividends declared and retain voting rights for the granted shares. The agreements under which the restricted stock is issued provide that shares awarded may not be sold or otherwise transferred until restrictions established under the plans have lapsed. The fair value of these awards is recognized as compensation expense, net of estimated forfeitures, on a straight-line basis over six years. Comprehensive Income (Loss) Franchising Program Combined domestic and international revenues from Orkin, Critter Control and Australia franchises were $15.5 million for the year ended December 31, 2021 and $15.2 million and $17.1 million for the years ended December 31, 2020 and 2019, respectively. Total franchising revenues were less than 1.0% of the Company’s annual revenues. Right to access intellectual property (Franchise) Recent Accounting Guidance Recently adopted accounting standards In October 2021, the FASB issued ASU 2021-08, “Business Combinations (Topic 805) – Accounting for Contract Assets and Contract Liabilities from Contracts with Customers.” The amendments in this Update require that an acquirer recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606, Revenue from Contracts with Customers. The amendments in this Update are effective for fiscal years beginning after December 15, 2022 with early adoption permitted. The Company adopted this ASU during the fourth quarter of 2021 and the adoption did not have a material impact on the Company’s consolidated financial statements. In December 2019, the FASB issued ASU No. 2019 12 “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes.’ The standard eliminates the need for an organization to analyze whether the following apply in a given period (1) exception to the incremental approach for intraperiod tax allocation (2) exceptions to accounting for basis differences when there are ownership changes in foreign investments and (3) exceptions in interim period income tax accounting for year-to-date losses that exceed anticipated losses. The ASU also is designed to improve financial statement preparers’ application of income tax-related guidance and simplify GAAP for (1) franchise taxes that are partially based on income, (2) transactions with a government that result in a step-up in the tax basis of goodwill, (3) separate financial statements of legal entities that are not subject to tax, and (4) enacted changes in tax laws in interim periods. The standard in this update is effective for the Company’s financial statements issued for fiscal years beginning in 2021. The adoption of this ASU did not have a material impact on the Company’s consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, “Financial Instruments - Credit Losses (ASC 326): Measurement of Credit Losses on Financial Instruments.” The updated accounting guidance requires changes to the recognition of credit losses on financial instruments not accounted for at fair value through net income. The Company adopted ASU 2016-13 effective January 1, 2020 and recognized the decrease in the allowance for expected credit losses, net of tax, as a $2.5 million increase to beginning retained earnings. Recently issued accounting standards to be adopted in 2022 or later In November 2021, the FASB issued ASU 2021-10, “Government Assistance (Topic 832) – Disclosures by Business Entities about Government Assistance.” The amendments in this Update require disclosures about transactions with a government that have been accounted for by analogizing to a grant or contribution accounting model to increase transparency about (1) the types of transactions, (2) the accounting for the transactions, and (3) the effect of the transactions on an entity’s financial statements. The amendments in this Update are effective for financial statements issued for annual periods beginning after December 15, 2021. The adoption of this ASU is not expected to have a material impact on the Company’s consolidated financial statements.

ACQUISITIONS

ACQUISITIONS	12 Months Ended
	Dec. 31, 2021
ACQUISITIONS
ACQUISITIONS	2. ACQUISITIONS The Company made 39 and 31 acquisitions during the years ended December 31, 2021, and 2020, respectively. Total cash purchase price for the Company’s acquisitions in 2021 and 2020 were $146.1 million and $147.6 million, respectively. For the 39 acquisitions completed in 2021, the preliminary values of major classes of assets acquired and liabilities assumed recorded at the dates of acquisition, adjusted during the valuation period are included in the reconciliation of the total consideration as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 Accounts receivable, net ​ $ 3,072 ​ $ 3,547 Materials and supplies ​ 891 ​ 582 Equipment and property ​ 8,184 ​ 7,269 Goodwill ​ 69,555 ​ 73,430 Customer contracts ​ 80,239 ​ 72,608 Trademarks & tradenames ​ 1,200 ​ 7,317 Other intangible assets ​ 3,668 ​ 1,333 Current liabilities ​ (6,483) ​ (15,518) Other assets and liabilities, net ​ 288 ​ 9,639 Total consideration paid ​ 160,614 ​ 160,207 Less: Contingent consideration liability ​ (14,516) ​ (12,594) Total cash purchase price ​ $ 146,098 ​ $ 147,613 ​ ​ Goodwill from acquisitions represents the excess of the purchase price over the fair value of net assets of businesses acquired. The factors contributing to the amount of goodwill are based on strategic and synergistic benefits that are expected to be realized. For the year ended December 31, 2021, $69.3 million of goodwill was added related to the 39 acquisitions noted above. The recognized goodwill is expected to be deductible for tax purposes. The purchase price allocations for these acquisitions are preliminary until the Company obtains final information regarding these fair values.

REVENUE

REVENUE	12 Months Ended
	Dec. 31, 2021
REVENUE
REVENUE	3. REVENUE The following tables present our revenues disaggregated by revenue source (in thousands). Sales and usage-based taxes are excluded from revenues. No sales to an individual customer or in a country other than the United States accounted for 10% or more of the sales for the periods listed on the following table. Revenue, classified by the major geographic areas in which our customers are located, was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 (in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ United States ​ $ 2,240,226 ​ $ 2,006,368 ​ $ 1,862,698 Other countries ​ 184,074 ​ 154,852 ​ 152,779 Total Revenues ​ $ 2,424,300 ​ $ 2,161,220 ​ $ 2,015,477 ​ Revenue from external customers, classified by significant product and service offerings, was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (in thousands) ​ 2021 2020 2019 Residential revenue ​ $ 1,103,687 ​ $ 977,470 ​ $ 861,636 Commercial revenue ​ 844,928 ​ 766,716 ​ 770,342 Termite completions, bait monitoring, & renewals ​ 465,053 ​ 406,782 ​ 371,258 Other revenues ​ 10,632 ​ 10,252 ​ 12,241 Total Revenues ​ $ 2,424,300 ​ $ 2,161,220 ​ $ 2,015,477 ​ Deferred revenue recognized for the year ended December 31, 2021 and 2020 was $187.3 million and $173.2 million, respectively. Changes in unearned revenue were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ 2021 2020 (in thousands) ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ ​ $ 149,224 ​ $ 136,507 Deferral of unearned revenue ​ ​ 206,730 ​ 185,943 Recognition of unearned revenue ​ ​ (187,347) ​ (173,226) Ending balance ​ ​ $ 168,607 ​ $ 149,224 ​ Revenue allocated to remaining performance obligations represents contracted revenue that has not yet been recognized (“contracted not recognized revenue”), which includes both unearned revenue and revenue that will be billed and recognized in future periods. The Company has no material contracted not recognized revenue as of December 31, 2021 or December 31, 2020. At December 31, 2021 and December 31, 2020, the Company had long-term unearned revenue of $23.5 million and $18.0 million, respectively. Unearned short-term revenue is recognized over the next 12-month period. The majority of unearned long-term revenue is recognized over a period of five years or less with immaterial amounts recognized through 2032.

DEBT

DEBT	12 Months Ended
	Dec. 31, 2021
DEBT
DEBT	4. DEBT In April 2019, the Company entered into a Credit Agreement with Truist Bank, (formerly known as SunTrust Bank) and Bank of America, N.A. (the “Credit Agreement”) for an unsecured Revolving Commitment of up to $175.0 million, which includes a $75.0 million letter of credit subfacility and a $25.0 million swingline subfacility (the “Revolving Commitment”) and an unsecured variable rate $250.0 million Term Loan (the “Term Loan”). Both the Revolving Commitment and the Term Loan (the “Credit Facility”) have five-year durations commencing on April 29, 2019 and ending April 29, 2024 duration beyond the Revolving Commitment termination date as well as optional prepayment rights at any time and from time to time to prepay any borrowing, in whole or in part, without premium or penalty. As of December 31, 2021, the Revolving Commitment had outstanding borrowings of $107.0 million and the Term Loan had outstanding borrowings of $48.0 million. As of December 31, 2020, there were $203.0 million in aggregate outstanding borrowings. The $155.0 million outstanding borrowings value approximated the fair value at December 31, 2021 based upon interest rates available to the Company as evidenced by debt of other companies with similar credit characteristics. Our effective interest rate on the debt outstanding as of December 31, 2021 was 0.85%. The effective interest rate is comprised of the 1-month LIBOR plus a margin of 75.0 basis points as determined by our leverage ratio calculation. The Company has partially prepaid the Term Loan ahead of the amortization schedule and therefore, as of December 31, 2021, the only required payment was a balloon payment of $48.0 million in April 2024. The Company maintains approximately $37.2 million in letters of credit. These letters of credit are required by the Company’s fronting insurance companies and/or certain states, due to the Company’s self-insured status, to secure various workers’ compensation and casualty insurance contracts coverage. The Company believes that it has adequate liquid assets, funding sources and insurance accruals to accommodate such claims. On January 27, 2022, the Company entered into an amendment (the “Amendment”) to the Credit Agreement with Truist Bank and Bank of America, N.A whereby additional term loans in an aggregate principal amount of $252.0 million were advanced to the Company. The Amendment also replaced LIBOR as the benchmark interest rate for borrowings with the Bloomberg Short-Term Bank Yield Index rate (“BSBY”) and reset the amortization schedule for all term loans under the Credit Agreement. The maturity of all loans made under the Credit Agreement prior to the Amendment remains unchanged at April 29, 2024 and all other terms of the Credit Agreement remain unchanged in all material respects. Subsequent to year end, in conjunction with this Amendment, the aggregate outstanding principal balance of all term loans under the Credit Agreement is $300.0 million (consisting of an outstanding principal balance of the initial term loan in the amount of $48.0 million and the additional $252.0 million term loan borrowing made). In order to comply with applicable debt covenants, the Company is required to maintain at all times a leverage ratio of not greater than 3.00:1.00. The leverage ratio is calculated as of the last day of the fiscal quarter most recently ended. The Company remained in compliance with applicable debt covenants at December 31, 2021 and expects to maintain compliance throughout 2022.

ALLOWANCE FOR CREDIT LOSSES

ALLOWANCE FOR CREDIT LOSSES	12 Months Ended
	Dec. 31, 2021
ALLOWANCE FOR CREDIT LOSSES
ALLOWANCE FOR CREDIT LOSSES	5. ALLOWANCE FOR CREDIT LOSSES The Company is exposed to credit losses primarily related to accounts receivables and financed receivables derived from customer services revenue. To reduce credit risk for residential pest control accounts receivable, we promote enrollment in our auto-pay programs. In general, we may suspend future services for customers with past due balances. The Company’s credit risk is generally low with a large number of entities comprising Rollins’ customer base and dispersion across many different geographical regions. The Company manages its financing receivables on an aggregate basis when assessing and monitoring credit risks. The Company’s established credit evaluation and monitoring procedures seek to minimize the amount of business we conduct with higher risk customers. The credit quality of a potential obligor is evaluated at the loan origination based on an assessment of the individual’s Beacon/credit bureau score. Rollins requires a potential obligor to have good credit worthiness with low risk before entering into a contract. Depending upon the individual’s credit score, the Company may accept with 100% financing or require a significant down payment or turn down the contract. Delinquencies of accounts are monitored each month. Financing receivables include installment receivable amounts, some of which are due subsequent to one year from the balance sheet dates. The Company’s allowances for credit losses for trade accounts receivable and financed receivables are developed using historical collection experience, current economic and market conditions, reasonable and supportable forecasts, and a review of the current status of customers’ receivables. The Company’s receivable pools are classified between residential customers, commercial customers, large commercial customers, and financed receivables. Accounts are written-off against the allowance for credit losses when the Company determines that amounts are uncollectible, and recoveries of amounts previously written off are recorded when collected. The Company stops accruing interest to these receivables when they are deemed uncollectible. Below is a roll forward of the Company’s allowance for credit losses for the years ended December 31, 2021 and 2020. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for Credit Losses ​ ​ Trade ​ Financed ​ Total (in thousands) ​ Receivables ​ Receivables ​ Receivables Balance at December 31, 2019 ​ $ 16,699 ​ $ 2,959 ​ $ 19,658 Adoption of ASC 326 ​ ​ (3,330) ​ ​ - ​ ​ (3,330) Provision for expected credit losses ​ ​ 14,699 ​ ​ 2,837 ​ ​ 17,536 Write-offs charged against the allowance ​ ​ (18,228) ​ ​ (2,565) ​ ​ (20,793) Recoveries collected ​ ​ 7,014 ​ ​ — ​ ​ 7,014 Balance at December 31, 2020 ​ $ 16,854 ​ $ 3,231 ​ $ 20,085 Provision for expected credit losses ​ ​ 11,732 ​ ​ 3,553 ​ ​ 15,285 Write-offs charged against the allowance ​ (19,882) ​ ​ (2,799) ​ (22,681) Recoveries collected ​ 5,181 ​ ​ — ​ 5,181 Balance at December 31, 2021 ​ $ 13,885 ​ ​ 3,985 ​ $ 17,870 ​ Total financing receivables, net were $73.2 million and $61.9 million at December 31, 2021 and December 31, 2020, respectively. Financing receivables are generally charged-off when deemed uncollectable or when 180 days have elapsed since the date of the last full contractual payment. The Company’s charge-off policy has been consistently applied during the periods reported. Management considers the charge-off policy when evaluating the appropriateness of the allowance for expected credit losses. Gross charge-offs as a percentage of average financing receivables were 4.3% and 4.6% for the twelve months ended December 31, 2021 and December 31, 2020, respectively. Due to the low percentage of charge-off receivables and the high creditworthiness of the potential obligors, the Rollins, Inc. financing receivables portfolio has a low credit risk. The Company offers 90 days same-as-cash financing to some customers based on their creditworthiness. Interest is not recognized until the 91st Included in financing receivables are notes receivable from franchise owners. The majority of these notes are low risk as the repurchase of these franchises is guaranteed by the Company’s wholly-owned subsidiary, Orkin Systems, LLC, and the repurchase price of the franchise is currently estimated and has historically been well above the receivable due from the franchise owner. Also included in notes receivables are franchise notes from other brands which are not guaranteed and do not have the same historical valuation. The carrying amount of notes receivable approximates fair value as the interest rates approximate market rates for these types of contracts. Long-term installment receivables, net were $47.1 million and $38.2 million at December 31, 2021 and 2020, respectively. The following is a summary of the past due financing receivables: ​ ​ ​ ​ ​ ​ ​ At December 31, 2021 2020 (in thousands) ​ ​ ​ ​ ​ ​ 30-59 days past due ​ $ 1,911 ​ $ 2,215 60-89 days past due ​ 1,058 ​ 1,063 90 days or more past due ​ 2,886 ​ 1,745 Total ​ $ 5,855 ​ $ 5,023 ​ The following is a summary of percentage of gross financing receivables: ​ ​ ​ ​ ​ ​ At December 31, 2021 2020 Current 91.7 % 92.3 % 30-59 days past due 2.7 % 3.4 % 60-89 days past due 1.5 % 1.6 % 90 days or more past due 4.1 % 2.7 % Total 100.0 % 100.0 % ​

EQUIPMENT AND PROPERTY

EQUIPMENT AND PROPERTY	12 Months Ended
	Dec. 31, 2021
EQUIPMENT AND PROPERTY
EQUIPMENT AND PROPERTY	6. EQUIPMENT AND PROPERTY Equipment and property are presented at cost less accumulated depreciation and are detailed as follows: ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 2020 (in thousands) ​ ​ Buildings ​ $ 54,935 ​ $ 91,453 Operating equipment ​ 126,732 ​ 116,791 Furniture and fixtures ​ 19,261 ​ 19,860 Computer equipment and systems ​ 223,648 ​ 212,010 ​ ​ 424,576 ​ 440,114 Less: accumulated depreciation ​ (315,891) ​ (294,226) ​ ​ 108,685 ​ 145,888 Land ​ 24,572 ​ 32,164 Net equipment and property ​ $ 133,257 ​ $ 178,052 ​ Included in computer equipment and systems at December 31, 2021 and 2020, are costs for internal use software of $143.5 million and $137.9 million, respectively. The related accumulated depreciation was $105.3 million and $89.4 million at December 31, 2021 and 2020, respectively. ​ Included in equipment and property, net at December 31, 2021 and 2020, are fixed assets held in foreign countries of $8.4 million, and $8.5 million, respectively. Total depreciation expense was approximately $40.6 million in 2021, $40.6 million in 2020 and $36.6 million in 2019.

LEASES

LEASES	12 Months Ended
	Dec. 31, 2021
LEASES
LEASES	​ 7. LEASES The Company leases certain buildings, vehicles, and equipment in order to reduce the risk associated with ownership. The Company elected the practical expedient approach permitted under ASC Topic 842, “Leases” not to include short-term leases with a duration of 12 months or less on the balance sheet. As of December 31, 2021 and 2020, all leases were classified as operating leases. Building leases generally carry terms of 5 to 10 years with annual rent escalations at fixed amounts per the lease. Vehicle leases generally carry a fixed term of one year with renewal options to extend the lease on a monthly basis resulting in lease terms up to 7 years depending on the class of vehicle. The exercise of renewal options is at the Company’s sole discretion. It is reasonably certain that the Company will exercise the renewal options on its vehicle leases. The measurement of right-of-use assets and liabilities for vehicle leases includes the fixed payments associated with such renewal periods. We separate lease and non-lease components of contracts. Our lease agreements do not contain any material variable payments, residual value guarantees, early termination penalties or restrictive covenants. During the year ended December 31, 2021, the Company completed multiple sale-leaseback transactions where it sold 17 of its properties related to the Clark Pest Control acquisition for gross proceeds of $67.0 million and a pre-tax gain of $31.5 million, which is included in Other (income) expense, net on the income statement. These leases are classified as operating leases with terms of 7 The Company uses the rate implicit in the lease when available; however, most of our leases do not provide a readily determinable implicit rate. Accordingly, we estimate our incremental borrowing rate based on information available at lease commencement. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ (in thousands, except Other Information) ​ ​ ​ ​ ​ Lease Classification Financial Statement Classification 2021 2020 ​ Short-term lease cost Cost of services provided, Sales, general, and administrative expenses ​ $ 235 ​ $ 189 ​ Operating lease cost Cost of services provided, Sales, general, and administrative expenses ​ 93,215 ​ 85,426 ​ Total lease expense ​ ​ ​ $ 93,450 ​ $ 85,615 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other Information: ​ ​ ​ Weighted-average remaining lease term - operating leases ​ ​ ​ 5.5 years ​ 3.8 years ​ Weighted-average discount rate - operating leases ​ ​ ​ 3.63 % 3.93 % Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating cash flows for operating leases ​ ​ ​ $ 92,032 ​ $ 84,673 ​ ​ Lease Commitments Future minimum lease payments, including assumed exercise of renewal options at December 31, 2021 were as follows: ​ ​ ​ ​ ​ ​ Operating (in thousands) ​ ​ 2022 ​ ​ 82,959 2023 ​ 63,380 2024 ​ 39,426 2025 ​ 22,713 2026 ​ 14,882 Thereafter ​ 54,024 Total Future Minimum Lease Payments ​ 277,384 Less: Amount representing interest ​ 29,624 Total future minimum lease payments, net of interest ​ $ 247,760 ​ Future commitments presented in the table above include lease payments in renewal periods for which it is reasonably certain that the Company will exercise the renewal option. Total future minimum lease payments for operating leases, including the amount representing interest, are comprised of $162.1 million for building leases and $115.3 million for vehicle leases. As of December 31, 2021, the Company had additional future obligations of $4.8 million for leases that had not yet commenced.

FAIR VALUE MEASUREMENT

FAIR VALUE MEASUREMENT	12 Months Ended
	Dec. 31, 2021
FAIR VALUE MEASUREMENT
FAIR VALUE MEASUREMENT	8. FAIR VALUE MEASUREMENT The Company’s financial instruments consist of cash and cash equivalents, trade receivables, financed and notes receivable, accounts payable, other short-term liabilities, and debt. The carrying amounts of these financial instruments approximate their respective fair values. The Company also has derivative instruments as discussed in Note 11 and financial instruments related to its defined benefit pension plan and deferred compensation plan detailed in Note 14. The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value. Level 1 refers to fair values determined based on quoted prices in active markets for identical assets. Level 2 refers to fair values estimated using significant other observable inputs, and Level 3 includes fair values estimated using significant non-observable inputs. During the year ended December 31, 2021, the Company invested $12.7 million of unrestricted cash in international bonds, a level 2 asset under the fair value hierarchy. The investment is recorded in other current assets. The fair market values of the bonds approximate their amortized costs. At December 31, 2021 and 2020, respectively, the Company had $25.2 million and $35.7 million of acquisition holdback and earnout liabilities with the former owners of acquired companies. Acquisition earnouts are generally earned by achieving certain levels of revenue growth while maintaining certain profit margins. The earnout liabilities are discounted to reflect the expected probability of payout, and both earnout and holdback liabilities are discounted to their net present value on the Company’s books and are considered Level 3 liabilities. The table below presents a summary of the changes in fair value for these liabilities. ​ ​ ​ ​ ​ (in thousands) ​ ​ ​ Acquisition holdback and earnout liabilities at December 31, 2019 $ 49,132 New acquisitions ​ ​ 12,594 Revaluations ​ ​ (2,305) Payouts ​ ​ (24,011) Interest on outstanding contingencies ​ ​ 2,025 Charge offset, forfeit and other ​ ​ (1,691) Acquisition holdback and earnout liabilities at December 31, 2020 ​ ​ 35,744 New acquisitions ​ ​ 14,516 Revaluations ​ ​ — Payouts ​ ​ (22,809) Interest on outstanding contingencies ​ ​ 855 Charge offset, forfeit and other ​ ​ (3,150) Acquisition holdback and earnout liabilities at December 31, 2021 ​ $ 25,156 ​

GOODWILL

GOODWILL	12 Months Ended
	Dec. 31, 2021
CUSTOMER CONTRACTS, TRADENAMES AND TRADEMARKS, AND OTHER INTANGIBLE ASSETS
GOODWILL	9. GOODWILL Goodwill represents the excess of the purchase price over the fair value of net assets of businesses acquired. The carrying amount of goodwill was $721.8 million at December 31, 2021 and $653.2 million as of December 31, 2020. Goodwill increased for the year ended December 31, 2021 primarily due to acquisitions. The carrying amount of goodwill in foreign countries was $82.1 million as of December 31, 2021 and $81.4 million as of December 31, 2020. The changes in the carrying amount of goodwill for the twelve months ended December 31, 2021 and 2020 were as follows: ​ ​ ​ ​ ​ (in thousands) ​ Goodwill at December 31, 2019 $ 572,847 Goodwill acquired ​ 73,430 Goodwill adjustments due to currency translation ​ 6,899 Goodwill at December 31, 2020 ​ 653,176 Goodwill acquired ​ 69,264 Goodwill adjustments due to currency translation ​ (621) Goodwill at December 31, 2021 ​ $ 721,819 ​

CUSTOMER CONTRACTS, TRADENAMES

CUSTOMER CONTRACTS, TRADENAMES AND TRADEMARKS, AND OTHER INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2021
CUSTOMER CONTRACTS, TRADENAMES AND TRADEMARKS, AND OTHER INTANGIBLE ASSETS
CUSTOMER CONTRACTS, TRADENAMES AND TRADEMARKS, AND OTHER INTANGIBLE ASSETS	10. CUSTOMER CONTRACTS, TRADENAMES AND TRADEMARKS, AND OTHER INTANGIBLE ASSETS Customer contracts are amortized on a straight-line basis over the period of the agreements, as straight-line best approximates the ratio that current revenues bear to the total of current and anticipated revenues, based on the estimated lives of the assets. In accordance with the FASB ASC Topic 350 “Intangibles - Goodwill and other”, the expected lives of customer contracts were analyzed, and it was determined that customer contracts should be amortized over a life of 7 to 20 years dependent upon customer type. The carrying amount and accumulated amortization for customer contracts were as follows: ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 2020 (in thousands) ​ ​ ​ ​ ​ ​ Customer contracts ​ $ 551,277 ​ $ 475,494 Less: accumulated amortization ​ (225,348) ​ (176,545) Customer contracts, net ​ $ 325,929 ​ $ 298,949 ​ The net carrying amount of customer contracts in foreign countries was $42.1 million as of December 31, 2021 and $45.7 million as of December 31, 2020. Trademarks and tradenames are amortized on a straight-line basis over the period of their useful lives. The Company has determined these assets have useful lives between 7 and 20 years with non-amortizable, indefinite lived tradenames of $102.7 million and $97.4 million as of December 31, 2021 and 2020, respectively. The carrying amount and accumulated amortization for trademarks and tradenames were as follows: ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 2020 (in thousands) ​ ​ Trademarks and tradenames ​ $ 115,468 ​ $ 115,131 Less: accumulated amortization ​ (6,492) ​ (6,087) Trademarks and tradenames, net ​ $ 108,976 ​ $ 109,044 ​ The net carrying amount of trademarks and tradenames in foreign countries was $2.9 million as of December 31, 2021 and $3.3 million as of December 31, 2020. Other intangible assets include non-compete agreements and patents. Non-compete agreements are amortized on a straight-line basis over periods ranging from 3 to 20 years and patents are amortized on a straight-line basis over 15 years. The carrying amount and accumulated amortization for other intangible assets were as follows: ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 2020 (in thousands) ​ ​ Other intangible assets ​ $ 24,448 ​ $ 23,247 Less: accumulated amortization ​ (12,769) ​ (12,470) Other intangible assets, net ​ $ 11,679 ​ $ 10,777 ​ The net carrying amount of other intangible assets in foreign countries was $0.7 million as of December 31, 2021 and $1.0 million as of December 31, 2020. Included in the table above are non-amortizable, indefinite lived Internet domain names of $2.2 million at December 31, 2021 and 2020, respectively. Total amortization expense was approximately $53.6 million in 2021, $47.7 million in 2020 and $44.5 million in 2019. Estimated amortization expense for the existing carrying amount of customer contracts and other intangible assets for each of the five succeeding fiscal years are as follows: ​ ​ ​ ​ ​ (in thousands) ​ 2022 $ 58,635 2023 ​ 54,027 2024 ​ 50,601 2025 ​ 41,483 2026 ​ 37,084 ​

DERIVATIVE INSTRUMENTS AND HEDG

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	12 Months Ended
	Dec. 31, 2021
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	​ 11. DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES Risk Management Objective of Using Derivatives The Company is exposed to certain interest rate risks on our outstanding debt and foreign currency risks arising from our international business operations and global economic conditions. The Company enters into certain derivative financial instruments to lock in certain interest rates, as well as to protect the value or fix the amount of certain obligations in terms of its functional currency, the U.S. dollar. Cash Flow Hedges of Interest Rate Risk The Company uses interest rate swap arrangements to manage or hedge its interest rate risk. Notwithstanding the terms of the swaps, the Company is ultimately obligated for all amounts due and payable under the Credit Facility. The Company does not use interest rate swaps for speculative or trading purposes. On June 19, 2019, the Company entered into a floating-to-fixed interest rate swap for an aggregate notional amount of $100.0 million in order to hedge a portion of the Company’s floating rate indebtedness under the Credit Facility. The Company designated the swap as a cash flow hedge. The swap requires the Company to pay a fixed rate of 1.94% per annum on the notional amount. The cash flows from the swap began June 30, 2019 and ended on December 31, 2021. Realized gains and losses in connection with each required interest payment are reclassified from Accumulated other comprehensive income (“AOCI”) to interest expense during the period of the cash flows. During 2021 and 2020, $0.4 million and $0.7 million was reclassified into interest expense. During 2019, $0.1 million was recorded as interest income, partially offsetting the floating rate interest expense on our Credit Facility. Hedges of Foreign Exchange Risk The Company is exposed to fluctuations in various foreign currencies against its functional currency, the US dollar. We use foreign currency derivatives, specifically foreign currency forward contracts (“FX Forwards”), to manage our exposure to fluctuations in the USD-CAD and AUD-USD exchange rates. FX Forwards involve fixing the foreign currency exchange rate for delivery of a specified amount of foreign currency on a specified date. The FX Forwards are typically settled in US dollars for their fair value at or close to their settlement date. We do not currently designate any of these FX Forwards under hedge accounting, but rather reflect the changes in fair value immediately in earnings. We do not use such instruments for speculative or trading purposes, but rather use them to manage our exposure to foreign exchange rates. Changes in the fair value of FX Forwards are recorded in other income/expense and were equal to net losses of $0.4 million for each of the twelve months ended December 31, 2021 and 2020. The fair values of the Company’s FX Forwards were recorded in Other current liabilities as net obligations of $0.0 million and $0.4 million at December 31, 2021 and 2020, respectively. As of December 31, 2020, the Company had the following outstanding FX Forwards (in thousands except for number of instruments): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Number of ​ Sell ​ Buy FX Forward Contracts Instruments Notional Notional Sell AUD/Buy USD Fwd Contract ​ 19 ​ $ 2,500 ​ $ 1,813 Sell CAD/Buy USD Fwd Contract ​ 19 ​ ​ 19,000 ​ ​ 14,994 Total ​ 38 ​ ​ $ 16,807 ​ The financial statement impact related to these derivative instruments was insignificant for the years ended December 31, 2021, 2020, and 2019.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2021
INCOME TAXES
INCOME TAXES	12. INCOME TAXES The Company’s income tax provision consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the years ended December 31, 2021 2020 2019 (in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ Current: ​ ​ ​ ​ ​ ​ ​ ​ ​ Federal ​ $ 87,888 ​ $ 67,861 ​ $ 43,593 State ​ 24,131 ​ 18,381 ​ 15,337 Foreign ​ 10,480 ​ 8,869 ​ 6,111 Total current tax ​ 122,499 ​ 95,111 ​ 65,041 Deferred: ​ ​ ​ Federal ​ (34) ​ (2,076) ​ (5,217) State ​ 1,795 ​ 312 ​ (1,518) Foreign ​ (109) ​ 549 ​ (493) Total deferred tax ​ 1,652 ​ (1,215) ​ (7,228) Total income tax provision ​ $ 124,151 ​ $ 93,896 ​ $ 57,813 ​ The primary factors causing income tax expense to be different than the federal statutory rate for 2021, 2020 and 2019 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the years ended December 31, 2021 2020 2019 (in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ Income tax at statutory rate ​ $ 99,716 ​ $ 74,491 ​ $ 54,845 State income tax expense (net of federal benefit) ​ 19,135 ​ 14,393 ​ 10,182 Foreign tax expense ​ 2,837 ​ 2,341 ​ 933 Foreign tax credit ​ (273) ​ (240) ​ (242) Repatriation tax under the Tax Cuts and Jobs Act of 2017 ​ — ​ — ​ (844) Pension settlement ​ — ​ — ​ (10,537) Executive compensation ​ 2,786 ​ 5,557 ​ 2,445 Restricted stock adjustments ​ (3,468) ​ (3,927) ​ (2,973) Other ​ 3,418 ​ 1,281 ​ 4,004 Total income tax provision ​ $ 124,151 ​ $ 93,896 ​ $ 57,813 ​ Other includes the release of deferred tax liabilities, tax credits, valuation allowance, disallowed deductions, and other immaterial adjustments. The provision for income taxes resulted in an effective tax rate of 26.1% on income before income taxes for the year ended December 31, 2021. The effective rate differs from the annual federal statutory rate primarily because of state and foreign income taxes and certain other adjustments and disallowed deductions. For 2020 the effective tax rate was 26.5%. The effective rate differs from the annual federal statutory rate primarily because of state and foreign income taxes, adjustments related to the accelerated stock vesting expense and certain other disallowed deductions. For 2019 the effective tax rate was 22.1%. The effective income tax rate differs from the annual federal statutory tax rate primarily because of state and foreign income taxes and beneficial adjustments related to the pension settlement. During 2021, 2020 and 2019, the Company paid income taxes of $119.8 million, $81.2 million and $75.8 million, respectively, net of refunds. Deferred income taxes reflect the net tax effects of the temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and income tax purposes. Significant components of the Company’s deferred tax assets and liabilities at December 31, 2021 and 2020 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 2020 (in thousands) ​ ​ Deferred tax assets: ​ ​ Insurance and contingencies ​ $ 18,258 ​ $ 19,531 Unearned revenues ​ 12,051 ​ 11,825 Compensation and benefits ​ 13,546 ​ 12,304 State and foreign operating loss carryforwards ​ 1,234 ​ 2,768 Bad debt reserve ​ 3,873 ​ 4,214 Foreign tax credit ​ 4,775 ​ 3,804 Termite accrual ​ ​ 642 ​ ​ 721 Net pension liability ​ ​ 195 ​ ​ — Other ​ 3,371 ​ 2,519 Valuation allowance ​ (192) ​ (144) Total deferred tax assets ​ 57,753 ​ 57,542 Deferred tax liabilities: ​ ​ Depreciation and amortization ​ (24,261) ​ (25,730) Net pension liability ​ — ​ (727) Intangibles and other ​ (43,799) ​ (39,475) Total deferred tax liabilities ​ $ (68,060) ​ $ (65,932) Net deferred taxes ​ ​ Deferred tax assets ​ $ 2,948 ​ $ 2,222 Deferred tax liabilities ​ $ (13,255) ​ $ (10,612) ​ Deferred tax assets are included in Other assets on the balance sheet. ​ Analysis of the valuation allowance: ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 2020 (in thousands) ​ ​ ​ ​ ​ ​ Valuation allowance at beginning of year ​ $ 144 ​ $ 83 Increase in valuation allowance ​ 48 ​ 61 Valuation allowance at end of year ​ $ 192 ​ $ 144 ​ As of December 31, 2021, the Company has net operating loss carryforwards for foreign and state income tax purposes of approximately $23.9 million, which will be available to offset future taxable income. If not used, these carryforwards will expire between 2022 and 2032. Management believes that it is unlikely to be able to utilize approximately $1.0 million of foreign net operating losses before they expire and has included a valuation allowance for the effect of these unrealizable operating loss carryforwards. The valuation allowance increased by $0.05 million due to foreign net operating losses. The Company has a foreign tax credit carryforward of $4.8 million which if not fully utilized will expire in 2026. Earnings from continuing operations before income tax included foreign income of $32.5 million in 2021, $25.3 million in 2020 and $26.7 million in 2019. The Company’s international business is expanding, and we intend to continue to grow the business in foreign markets in the future through reinvestment of foreign deposits and future earnings as well as acquisition of unrelated companies. Repatriation of cash from the Company’s international subsidiaries is not a part of the Company’s current business plan. The total amount of unrecognized tax benefits at December 31, 2021 that, if recognized, would affect the effective tax rate is $1.0 million. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 2020 (in thousands) ​ ​ Unrecognized tax benefits at beginning of year ​ $ 844 ​ $ 844 Additions for tax positions of prior years ​ 174 ​ — Unrecognized tax benefits at end of year ​ $ 1,018 ​ $ 844 ​ The Company and its subsidiaries are subject to U.S. federal income tax as well as income tax of multiple state and foreign jurisdictions. In addition, the Company has subsidiaries in various state and international jurisdictions that are currently under audit for years ranging from 2013 through 2019. With few exceptions, we are no longer subject to U.S. federal, state and local, or non-U.S., income tax examinations for years prior to 2013. It is reasonably possible that the amount of unrecognized tax benefits will decrease in the next 12 months. The Company’s policy is to record interest and penalties related to income tax matters in income tax expense. Accrued interest and penalties were $0.2 million and $0.07 million as of December 31, 2021 and 2020, respectively. During 2021 the Company recognized interest and penalties of $0.2 million.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2021
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	13. COMMITMENTS AND CONTINGENCIES In the normal course of business, the Company and its subsidiaries are involved in, and will continue to be involved in, various claims, arbitrations, contractual disputes, investigations, and regulatory and litigation matters relating to, and arising out of, our businesses and our operations. These matters may involve, but are not limited to, allegations that our services or vehicles caused damage or injury, claims that our services did not achieve the desired results, claims related to acquisitions and allegations by federal, state or local authorities of violations of regulations or statutes. In addition, we are parties to employment-related cases and claims from time to time, which may include claims on a representative or class action basis alleging wage and hour law violations. We are also involved from time to time in certain environmental matters primarily arising in the normal course of business. We evaluate pending and threatened claims and establish loss contingency reserves based upon outcomes we currently believe to be probable and reasonably estimable. As we previously disclosed, the SEC is conducting an investigation (the “SEC Investigation”). We believe the SEC Investigation is primarily focused on how the Company established accruals and reserves at period-ends for periods beginning January 1, 2016 through December 31, 2018 and the impact of those accruals and reserves on reported earnings per share, specifically, in the first quarter of 2016 and the second quarter of 2017. The Company is in ongoing discussions with the SEC staff regarding a potential resolution of the SEC Investigation. In light of the foregoing, in accordance with the accounting guidance in ASC 450, “Contingencies,” the Company recorded an accrual for $8.0 million related to the SEC Investigation in the third and fourth quarters of 2021, which is reflected in other current liabilities in our consolidated statements of financial position. The ultimate amount of any liability related to the potential resolution of the SEC Investigation could be different from the $8.0 million accrued as of December 31, 2021. The Company will continue to cooperate with the SEC in working towards a final resolution of the SEC Investigation. As we previously reported during the third quarter of 2021, the Audit Committee of the Company’s Board of Directors initiated a related, supplemental internal investigation. This supplemental investigation was concluded in the fourth quarter of 2021. The Company believes that no restatement of its prior period financial statements will be required as a result of the SEC Investigation or matters related thereto. Management does not believe that any pending claim, proceeding or litigation, regulatory action or investigation, either alone or in the aggregate, will have a material adverse effect on the Company’s financial position, results of operations or liquidity; however, it is possible that an unfavorable outcome of some or all of the matters could result in a charge that might be material to the results of an individual quarter or year.

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	12 Months Ended
	Dec. 31, 2021
EMPLOYEE BENEFIT PLANS
EMPLOYEE BENEFIT PLANS	14. EMPLOYEE BENEFIT PLANS Defined Benefit Pension Plans The Company has sponsored noncontributory tax-qualified defined benefit pension plans covering employees meeting certain age and service requirements, the most significant of which was the Rollins, Inc. Plan, which was terminated in 2018. The Company funds its plans with at least the minimum amount required by ERISA. Rollins, Inc. Retirement Income Plan, (the “Rollins, Inc. Plan”) In 2005, the Company ceased all future benefit accruals under the Rollins, Inc. Plan, although the Company remained obligated to provide employees benefits earned through June 2005. In September 2019, the Company settled this fully-funded pension plan through a combination of lump sum payments to participants, payments to the Pension Benefit Guaranty Corporation, and the purchase of a group annuity contract. With the completed funding of the plan payout settlements, the Company had approximately $31.8 million of pension assets remaining. The remaining assets were the result of the funded status of the Rollins, Inc. Plan, higher take rate of lump sum payment election by participants and optimal pricing of the group annuity contract. The Company evaluated the ERISA allowable opportunities for utilization of the excess pension assets, including funding other employee benefits. The Company used $18.0 million during the year ended December 31, 2020 and $11.0 million during the year ended December 31, 2019 of the $31.8 million to fund its 401(k) match obligation. As of December 31, 2020, the Company had approximately $1.2 million remaining of benefit plan assets related to the Rollins, Inc. Plan. During 2021 all remaining assets were reverted to the Company per ERISA regulations. The Company paid 46.1% of taxes upon reversion, which included 20% of excise tax. Waltham Services, LLC Hourly Employee Pension Plan (the “Waltham Plan”) The Company continues to sponsor the Waltham Plan, which covers less than 85 participants as of December 31, 2021. The Waltham Plan was amended, effective September 1, 2018, to freeze future benefit accruals for all participants. The Company accounts for all defined benefit plans in accordance with the FASB ASC Topic 715 “Compensation Retirement Benefits,” and engages an outside actuary to calculate obligations and costs. With the assistance of the actuary, the Company evaluates the significant assumptions used on a periodic basis, including the estimated future return on plan assets, the discount rate, and other factors, and makes adjustments to these liabilities as necessary. As of December 31, 2021, the Waltham Plan had assets of $2.2 million, a projected liability of $2.9 million and an unfunded status of $0.7 million. At December 31, 2021 the plan’s assets were comprised of listed common stocks and U.S government and corporate securities and are classified as Level 1 and Level 2 in the fair value hierarchy. Defined Contribution 401(k) Savings Plan The Company sponsors a defined contribution 401(k) Savings Plan (“the Plan”) that is available to a majority of the Company’s full-time employees the first day of the calendar quarter following completion of three months of service. The Plan is available to non-full-time employees the first day of the calendar quarter following one year of service upon completion of 1,000 hours one Nonqualified Deferred Compensation Plan The Deferred Compensation Plan provides that participants may defer up to 50% of their base salary and up to 85% of their annual bonus with respect to any given plan year, subject to a $2 thousand per plan year minimum. The Company may make discretionary contributions to participant accounts but has not done so since 2011. Accounts will be credited with hypothetical earnings, and/or debited with hypothetical losses, based on the performance of certain “Measurement Funds.” Account values are calculated as if the funds from deferrals and Company credits had been converted into shares or other ownership units of selected Measurement Funds by purchasing (or selling, where relevant) such shares or units at the current purchase price of the relevant Measurement Fund at the time of the participant’s selection. Deferred Compensation Plan benefits are unsecured general obligations of the Company to the participants, and these obligations rank in parity with the Company’s other unsecured and unsubordinated indebtedness. The Company has established a “rabbi trust,” which it uses to voluntarily set aside amounts to indirectly fund any obligations under the Deferred Compensation Plan. To the extent that the Company’s obligations under the Deferred Compensation Plan exceed assets available under the trust, the Company would be required to seek additional funding sources to fund its liability under the Deferred Compensation Plan. Generally, the Deferred Compensation Plan provides for distributions of any deferred amounts upon the earliest to occur of a participant’s death, disability, retirement or other termination of employment (a “Termination Event”). However, for any deferrals of salary and bonus (but not Company contributions), participants would be entitled to designate a distribution date which is prior to a Termination Event. Generally, the Deferred Compensation Plan allows a participant to elect to receive distributions under the Deferred Compensation Plan in installments or lump-sum payments. At December 31, 2021, the Deferred Compensation Plan had 75 life insurance policies with a net face value of $53.1 million compared to 75 policies with a face value of $50.2 million at December 31, 2020. The cash surrender value of these life insurance policies was worth $27.2 million and $24.5 million at December 31, 2021 and 2020, respectively. These policies are valued using the NAV practical expedient. The following table presents our non-qualified deferred compensation plan assets using the fair value hierarchy as of December 31, 2021 and 2020. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (in thousands) Level 1 Level 2 Level 3 ​ NAV Total December 31, 2021 ​ $ 25 ​ $ — ​ $ — ​ $ 27,211 ​ $ 27,236 December 31, 2020 ​ $ 25 ​ $ — ​ $ — ​ $ 24,460 ​ $ 24,485 ​ Cash and cash equivalents, which are used to pay benefits and deferred compensation plan administrative expenses, are held in Money Market Funds. Total expense related to deferred compensation was $322 thousand, $278 thousand, and $250 thousand in 2021, 2020, and 2019, respectively. The Company had $27.2 million and $24.5 million in deferred compensation assets as of December 31, 2021 and 2020, respectively, included within other assets on the Company’s consolidated statements of financial position and $23.6 million and $21.5 million in deferred compensation liability as of December 31, 2021 and 2020, respectively, located within other current liabilities and long-term accrued liabilities on the Company’s consolidated statements of financial position. The amounts of assets were marked to fair value.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2021
STOCK-BASED COMPENSATION
STOCK-BASED COMPENSATION	15. STOCK-BASED COMPENSATION Stock Compensation Plans Time Lapse Restricted Shares and Restricted Stock Units Time lapse restricted shares (TLRSs) have been issued to officers and other employees under the Company’s Employee Stock Incentive Plan. The Company recognizes compensation expense for the unvested portion of awards outstanding over the remainder of the service period. The compensation cost recorded for these awards is based on their closing stock price at the grant date less the cost of estimated forfeitures. Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods to reflect actual forfeitures. TLRSs provide for the issuance of a share of the Company’s common stock at no cost to the holder and generally vest after a certain stipulated number of years from the grant date, depending on the terms of the issue. TLRSs vest in 20 percent increments starting with the second anniversary of the grant, over six years from the date of grant. During these years, grantees receive all dividends declared and retain voting rights for the granted shares. The agreements under which the one-time grant of restricted stock is issued provide that shares awarded may not be sold or otherwise transferred until restrictions established under the plans have lapsed. The Company issued time lapse restricted shares of 0.8 million, 0.9 million, and 0.7 million for the years ended December 31, 2021, 2020, and 2019, respectively. The Company issues new shares from its authorized but unissued share pool. At December 31, 2021, approximately 6.6 million shares of the Company’s common stock were reserved for issuance. In accordance with the FASB ASC Topic 718, “ Compensation – Stock Compensation,” The following table summarizes the components of the Company’s stock-based compensation programs recorded as expense ($ in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (in thousands) ​ 2021 2020 2019 Time lapse restricted stock: ​ ​ ​ ​ Pre-tax compensation expense ​ $ 14,865 ​ $ 20,850 ​ $ 14,158 Tax benefit ​ (3,208) ​ (3,752) ​ (3,596) Restricted stock expense, net of tax ​ $ 11,657 ​ $ 17,098 ​ $ 10,562 ​ As of December 31, 2021 and 2020, $49.8 million and $40.5 million, respectively, of total unrecognized compensation cost related to time-lapse restricted shares are expected to be recognized over a weighted average period of approximately 4.0 years and 3.8 years at December 31, 2021 and 2020, respectively. The following table summarizes information on unvested restricted stock units outstanding as of December 31, 2021, 2020 and 2019. ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ ​ Number of ​ Grant-Date (number of shares in thousands) Shares Fair Value Unvested as of December 31, 2018 ​ 4,086 ​ $ 13.69 Forfeited (147) ​ 16.40 Vested (1,201) ​ 11.59 Granted 727 ​ 25.60 Unvested as of December 31, 2019 3,465 ​ 17.23 Forfeited (59) ​ 17.11 Vested (1,397) ​ 15.29 Granted 861 ​ 24.53 Unvested Restricted Stock at December 31, 2020 2,870 $ 20.36 Forfeited (191) ​ 25.34 Vested (861) ​ 16.67 Granted 778 ​ 37.04 Unvested Restricted Stock at December 31, 2021 2,596 ​ $ 26.16 ​

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME(LOSS)	12 Months Ended
	Dec. 31, 2021
ACCUMULATED OTHER COMPREHENSIVE INCOME(LOSS)
ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS)	16. ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) Accumulated other comprehensive income/ (loss) consist of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign ​ ​ ​ ​ ​ ​ Pension Liability ​ Currency ​ Interest ​ ​ ​ Adjustment Translation Rate Swaps Total Balance at December 31, 2018 ​ $ (46,091) ​ $ (24,987) ​ $ — ​ $ (71,078) Change during 2019: ​ ​ ​ ​ Before-tax amount ​ 75,449 ​ 4,350 ​ (277) ​ 79,522 Tax expense ​ (29,553) ​ — ​ — ​ (29,553) Other comprehensive earnings/(loss) ​ 45,896 ​ 4,350 ​ (277) ​ 49,969 Balance at December 31, 2019 ​ (195) ​ (20,637) ​ (277) ​ (21,109) Change during 2020: ​ ​ ​ ​ Before-tax amount ​ (173) ​ 10,443 ​ (141) ​ 10,129 Tax expense ​ 46 ​ — ​ 37 ​ 83 Other comprehensive earnings/(loss) ​ (127) ​ 10,443 ​ (104) ​ 10,212 Balance at December 31, 2020 ​ (322) ​ (10,194) ​ (381) ​ (10,897) Change during 2021: ​ ​ ​ ​ Before-tax amount ​ — ​ (5,895) ​ 516 ​ (5,379) Tax benefit ​ — ​ — ​ (135) ​ (135) Other comprehensive earnings/(loss) ​ — ​ (5,895) ​ 381 ​ (5,514) Balance at December 31, 2021 ​ $ (322) ​ $ (16,089) ​ $ — ​ $ (16,411) ​

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2021
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	17. RELATED PARTY TRANSACTIONS Transactions with RPC, Inc. The Company provides certain administrative services to RPC, Inc. (“RPC”) (a company of which Mr. Gary W. Rollins is also Chairman, and which is otherwise affiliated with the Company). The service agreements between RPC and the Company provide for the provision of services on a cost reimbursement basis and are terminable on six months’ notice. The services covered by these agreements include administration of certain employee benefit programs and other administrative services. Charges to RPC (or to corporations which are subsidiaries of RPC) for such services and rent totaled approximately $0.1 million for each of the years ended December 31, 2021, 2020, and 2019. Transactions with LOR, Inc. Purchase of Gulfstream III Aircraft During the year ended December 31, 2021, the Company purchased a Gulfstream III aircraft (“Gulfstream”) from LOR Inc. (“LOR”), a company controlled by Gary W. Rollins and certain members of his family) to be used as the Company’s primary airplane. The Company purchased the Gulfstream for $0.5 million and paid the applicable taxes of forty thousand dollars. The purchase of the Gulfstream was approved by the Company’s Nominating and Corporate Governance Committee and the Committee was presented with an independent appraisal of the aircraft supporting the purchase. Pilot Sharing Agreement The Company also entered into a Pilot Sharing Agreement with LOR whereby he Company’s employee pilots may be used by LOR from time to time to operate the LOR aircraft and LOR will reimburse the Company for 50% of the costs of the pilots, including salary, benefits and training. In addition, LOR and the Company are each responsible for their own fuel costs. The Pilot Sharing Agreement was approved by the Company’s Nominating and Corporate Governance Committee. Charges to LOR under the Pilot Sharing Agreement total $0.8 million for the year ended December 31, 2021. ​ Administrative Services Agreement The Company also provides certain administrative services to LOR and rents office, hanger and storage space to LOR. Charges to LOR (or corporations which are subsidiaries of LOR) for rent and administrative services totaled $0.6 million, $1.0 million and $0.8 million for the years ended December 31, 2021, 2020 and 2019, respectively. Lear Lease Agreement In 2014, P.I.A. LLC, a company then owned by our late Chairman of the Board of Directors, R. Randall Rollins, purchased a Lear Model 35A jet and entered into a lease arrangement with the Company for Company use of the aircraft for business purposes. P.I.A. LLC is now owned by a trust for the benefit of the late Mr. Rollins’ family. The lease is terminable by either party on 30 days’ notice. The Company pays $100 per month rent for the leased aircraft, and pays all variable costs and expenses associated with the leased aircraft, such as the costs for fuel, maintenance, storage and pilots. The Company has the priority right to use of the aircraft on business days, and Rollins family members and guests have the right to use the aircraft for personal use through the terms of an Aircraft Time Sharing Agreement with the Company. The amounts paid by the Company for the Rollins family and guests to use the aircraft for personal use will be disclosed in the Summary Compensation Table and the Director Compensation Table to be included in the Company’s 2022 Proxy Statement. During the years ended December 31, 2021, 2020 and 2019, the Company paid approximately $0.3 million, $0.6 million, and $0.9 million in rent and operating costs under the Aircraft Time Sharing Agreement, respectively. The foregoing related party transactions were previously approved by the Company’s Nominating and Governance Committee of the Board of Directors. Related Party Franchise Agreement On December 1, 2019, Orkin, a subsidiary of the Company entered into a franchise agreement with Wilson Pest Management, Inc. The franchise is owned 100% by John Wilson IV. During each of the years ended December 31, 2021 and 2020, the Company received a total of approximately $0.1 million. During the year ended December 31, 2019 the Company received $0.8 million which included payment for the franchise and an initial franchise fee of seventy-five Legal Fees Our Amended and Restated Bylaws require that the Company pay reasonable legal fees and expenses on behalf of our directors and officers that are named in certain legal proceedings. Pursuant to that provision, in connection with the SEC Investigation described in Note 13, during the year ended December 31, 2021, the Company paid legal expenses on behalf of certain current and former directors and officers in the aggregate amount of $1.3 million.

CASH DIVIDEND

CASH DIVIDEND	12 Months Ended
	Dec. 31, 2021
CASH DIVIDEND
CASH DIVIDEND	18. CASH DIVIDEND On January 27, 2022, the Company’s Board of Directors declared a regular quarterly cash dividend on its common stock of $0.10 payable March 10, 2022 to stockholders of record at the close of business February 10, 2022. The Company expects to continue to pay cash dividends to the common stockholders, subject to the earnings and financial condition of the Company and other relevant factors.

SCHEDULE II - VALUATION AND QUA

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS	12 Months Ended
	Dec. 31, 2021
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS	SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS ROLLINS, INC. AND SUBSIDIARIES ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for Expected Credit Losses ​ Balance at ​ ​ Charged to Net ​ ​ ​ ​ Beginning of ​ Adoption of ​ Costs and ​ (Deductions) ​ Balance at (in thousands) ​ Year ​ ASC 326 ​ Expenses ​ Recoveries ​ End of Year 2021 ​ $ 20,085 ​ $ — ​ $ 15,285 ​ $ (17,500) ​ $ 17,870 2020 ​ $ 19,658 ​ $ (3,330) ​ $ 17,536 ​ $ (13,779) ​ $ 20,085 2019 ​ $ 16,666 ​ $ — ​ $ 15,145 ​ $ (12,153) ​ $ 19,658 ​

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Business Description	Business Description
Principles of Consolidation	Principles of Consolidation
Subsequent Events	Subsequent Events
Use of Estimates	Use of Estimates The Company considered the impact of COVID-19 on the assumptions and estimates used in preparing the consolidated financial statements. In the opinion of management, all adjustments necessary for a fair presentation of the Company’s financial results for the year have been made. These adjustments are of a normal recurring nature but complicated by the uncertainty surrounding the global economic impact of COVID-19. The results of operations for the year ended December 31, 2021 are not necessarily indicative of results for future years. The severity, magnitude and duration, as well as the economic consequences of COVID-19, are uncertain, rapidly changing and difficult to predict. Therefore, our accounting estimates and assumptions may change over time in response to COVID-19 and may change materially in future periods
Revenue Recognition	Revenue Recognition Nature of Goods and Services and Performance Obligations The Company contracts with its customers to provide the following goods and services, each of which is a distinct performance obligation: Pest control services - The Company’s revenue recognition policies are designed to recognize revenues upon satisfaction of the performance obligation at the time services are performed. For certain revenue types, because of the timing of billing and the receipt of cash versus the timing of performing services, we use estimates as described below. Residential and commercial pest control services are primarily recurring in nature on a monthly, bi-monthly or quarterly basis, while certain types of commercial customers may receive multiple treatments within a given month. In general, pest control customers sign an initial one-year contract, and revenues are recognized at the time services are performed. The Company defers recognition of advance payments and recognizes the revenue as the services are rendered. The Company classifies discounts related to the advance payments as a reduction in revenues. Termite control services - Maintenance/monitoring/inspection - Termite baiting revenues are recognized based on the transfer of control of the individual units of accounting. At the inception of a new baiting services contract, upon quality control review of the installation, the Company recognizes revenue for the installation of the monitoring stations, initial directed liquid termiticide treatment and servicing of the monitoring stations. A portion of the contract amount is deferred for the undelivered monitoring performance obligation. This portion is recognized as income on a straight-line basis over the remaining contract term, which results in recognition of revenue that depicts the Company’s performance in transferring control of the service. The allocation of the transaction price to the two deliverables is based on the relative stand-alone selling price. There are no contingencies related to the delivery of additional items or meeting other specified performance conditions. Baiting renewal revenue is deferred and recognized over the annual contract period on a straight-line basis that depicts the Company’s performance in transferring control of the service. Revenue received for conventional termite renewals is deferred and recognized on a straight-line basis over the remaining contract term that depicts the Company’s performance in transferring control of the service; and, the cost of reinspections, reapplications and repairs and associated labor and chemicals are expensed as incurred. For outstanding claims, an estimate is made of the costs to be incurred (including legal costs) based upon current factors and historical information. The performance of reinspections tends to be close to the contract renewal date, and while reapplications and repairs involve an insubstantial number of the contracts, these costs are incurred over the contract term. As the revenue is being deferred, the future cost of reinspections, reapplications and repairs and associated labor and chemicals applicable to the deferred revenue are expensed as incurred. The Company accrues for noticed claims. The costs of providing termite services upon renewal are compared to the expected revenue to be received and a provision is made for any expected losses. Miscellaneous services - Products - Equipment rental (or lease) - Contract Balances Timing of revenue recognition may differ from the timing of invoicing to customers. We record unearned revenue when revenue is recognized subsequent to billing. Unearned revenue mainly relates to the Company’s termite baiting offering, conventional renewals, and year-in-advance pest control services for which we have been paid in advance and earn the revenue when we transfer control of the product or service. For multi-year agreements, we generally invoice customers annually at the beginning of each annual coverage period. Refer to Note 3 - Revenue for further information, including changes in unearned revenue for the year. The Company extends terms to certain customers on higher dollar termite and ancillary work, as well as to certain franchisees for initial funding on the sale of franchises. These financed receivables are segregated from our trade receivables. The allowance for expected credit losses reflects our best estimate of probable losses inherent in the accounts receivable balance. We determine the allowance based on known troubled accounts, historical experience, and other currently available evidence. See Note 5 – Allowance for Credit Losses for further information. Payment terms and conditions vary by contract type, although terms generally include a requirement of payment within 30 to 60 days. In instances where the timing of revenue recognition differs from the timing of invoicing, we have determined our contracts generally do not include a significant financing component. The primary purpose of our invoicing terms is to provide customers with simplified and predictable ways of purchasing our products and services, not to receive financing from our customers or to provide customers with financing. Practical Expedients and Exemptions We generally expense sales commissions when incurred because the amortization period would have been one year or less. These costs are recorded within sales and marketing expenses. We do not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts for which we recognize revenue at the amount to which we have the right to invoice for services performed. All revenues are reported net of sales taxes. The Company’s international operations accounted for approximately 8%, 7%, and 8% of revenues for the years ended December 31, 2021, 2020, and 2019 respectively.
Allowance for Expected Credit Losses	Allowance for Expected Credit Losses
Advertising	Advertising ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years ended December 31, 2021 2020 2019 (in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ Advertising ​ $ 91,879 ​ $ 86,314 ​ $ 81,174
Cash and Cash Equivalents	Cash and Cash Equivalents ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31, 2021 2020 2019 (in thousands) (in US dollars) ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash held in foreign bank accounts ​ $ 78,102 ​ $ 71,330 ​ $ 74,094 ​ The Company’s $105.3 million of total cash at December 31, 2021, is primarily cash held at various banking institutions. Approximately $78.1 million is held in cash accounts at international banking institutions and the remaining $27.2 million is primarily held in Federal Deposit Insurance Corporation (“FDIC”) insured non-interest-bearing accounts at various domestic banks which at times may exceed federally insured amounts. The Company’s international business is expanding, and we intend to continue to grow the business in foreign markets in the future through reinvestment of foreign deposits and future earnings as well as potential acquisitions of unrelated companies. Repatriation of cash from the Company’s foreign subsidiaries is not a part of the Company’s current business plan. Rollins maintains adequate liquidity and capital resources, without regard to its foreign deposits, that are directed to finance domestic operations and obligations and to fund expansion of its domestic business for the foreseeable future.
Marketable Securities	Marketable Securities Management determines the appropriate classification of debt securities at the time of purchase and re-evaluates such designations as of each balance sheet date. Debt securities are classified as available-for-sale because the Company does not have the intent to hold the securities to maturity. Available-for-sale securities are stated at their fair values, with the unrealized gains and losses reported in earnings. The Company had no marketable securities other than those held in the defined benefit pension plan and the non-qualified deferred compensation plan at December 31, 2021 and 2020. See Note 14 for further details.
Materials and Supplies	Materials and Supplies
Other Current Assets	Other Current Assets
Income Taxes	Income Taxes
Equipment and Property	Equipment and Property 10 operating equipment 2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years ended December 31, 2021 2020 2019 (in thousands) ​ ​ ​ ​ ​ ​ Depreciation ​ $ 40,592 ​ $ 40,623 ​ $ 36,646 ​ Certain internal-use software and systems development costs are capitalized. Accordingly, the specific identified costs incurred to develop and obtain software, which is intended for internal use, are not capitalized until the software is put into use. Management, with the relevant authority, authorizes and commits to funding a software project and it is probable that the project will be completed and the software will be used to perform the function intended. Costs incurred during a software development’s discovery phase and post-integration stage, are expensed as incurred. Application development activities that are eligible for capitalization include software design and configuration, development of interfaces, coding, testing and installation. Capitalized internal-use software and systems costs are subsequently amortized on a straight-line basis over a three
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets - “Property, Plant and Equipment”
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets “Intangibles - Goodwill and other” may
Other Assets	Other Assets –
Accrued Insurance	Accrued Insurance
Accrual for Termite Contracts	Accrual for Termite Contracts
Other Current Liabilities	Other Current Liabilities
Other Long-term Accrued Liabilities	Other Long-term Accrued Liabilities
Contingency Accruals	Contingency Accruals “Contingencies,”
Earnings Per Share	Earnings Per Share “Earnings Per Share-Overall,” The Company has periodically issued share-based payment awards that contain non-forfeitable rights to dividends and therefore are considered participating securities. See Note 15 for further information on restricted stock granted to employees. The basic and diluted calculations are the same as we have no stock options or other potentially dilutive instruments outstanding. Basic and diluted earnings per share are computed by dividing net income by the weighted average number of shares outstanding during the respective periods. A reconciliation of weighted average shares outstanding along with the earnings per share attributable to restricted shares of common stock (participating securities) is as follows (in thousands except per share data). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years Ended December 31, 2021 2020 2019 Net income available to stockholders ​ $ 350,687 ​ $ 260,824 ​ $ 203,347 Less dividends paid: ​ ​ ​ Common stock ​ (207,482) ​ (159,524) ​ (152,793) Restricted shares of common stock ​ (1,174) ​ (963) ​ (1,042) Undistributed earnings for the period ​ $ 142,031 ​ $ 100,337 ​ $ 49,512 Allocation of undistributed earnings: ​ ​ ​ Common stock ​ 141,224 ​ 99,676 ​ 49,144 Restricted shares of common stock ​ 807 ​ 661 ​ 368 Basic and diluted shares outstanding: ​ ​ ​ Common stock ​ 489,259 ​ 488,364 ​ 487,569 Restricted shares of common stock ​ 2,795 ​ 3,240 ​ 3,647 ​ ​ 492,054 ​ 491,604 ​ 491,216 Basic and diluted earnings per share: ​ ​ ​ Common stock: ​ ​ ​ Distributed earnings ​ $ 0.42 ​ $ 0.33 ​ $ 0.31 Undistributed earnings ​ 0.29 ​ 0.20 ​ 0.10 ​ ​ $ 0.71 ​ $ 0.53 ​ $ 0.41 Restricted shares of common stock: ​ ​ ​ Distributed earnings ​ $ 0.42 ​ $ 0.30 ​ $ 0.29 Undistributed earnings ​ 0.29 ​ 0.20 ​ 0.10 ​ ​ $ 0.71 ​ $ 0.50 ​ $ 0.39
Translation of Foreign Currencies	Translation of Foreign Currencies The resulting translation adjustments are charged or credited to other comprehensive income. Gains or losses from foreign currency transactions, such as those resulting from the settlement of receivables or payables, denominated in foreign currency are included in the earnings of the current period.
Stock-Based Compensation	Stock-Based Compensation Compensation – Stock Compensation TLRSs provide for the issuance of a share of the Company’s common stock at no cost to the holder and generally vest after a certain stipulated number of years from the grant date, depending on the terms of the issue. Outstanding TLRSs vest in 20 percent increments starting with the second anniversary of the grant, over six years from the date of grant. During these years, grantees receive all dividends declared and retain voting rights for the granted shares. The agreements under which the restricted stock is issued provide that shares awarded may not be sold or otherwise transferred until restrictions established under the plans have lapsed. The fair value of these awards is recognized as compensation expense, net of estimated forfeitures, on a straight-line basis over six years.
Comprehensive Income (Loss)	Comprehensive Income (Loss)
Franchising Program	Franchising Program Combined domestic and international revenues from Orkin, Critter Control and Australia franchises were $15.5 million for the year ended December 31, 2021 and $15.2 million and $17.1 million for the years ended December 31, 2020 and 2019, respectively. Total franchising revenues were less than 1.0% of the Company’s annual revenues. Right to access intellectual property (Franchise)
Recent Accounting Guidance	Recent Accounting Guidance Recently adopted accounting standards In October 2021, the FASB issued ASU 2021-08, “Business Combinations (Topic 805) – Accounting for Contract Assets and Contract Liabilities from Contracts with Customers.” The amendments in this Update require that an acquirer recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606, Revenue from Contracts with Customers. The amendments in this Update are effective for fiscal years beginning after December 15, 2022 with early adoption permitted. The Company adopted this ASU during the fourth quarter of 2021 and the adoption did not have a material impact on the Company’s consolidated financial statements. In December 2019, the FASB issued ASU No. 2019 12 “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes.’ The standard eliminates the need for an organization to analyze whether the following apply in a given period (1) exception to the incremental approach for intraperiod tax allocation (2) exceptions to accounting for basis differences when there are ownership changes in foreign investments and (3) exceptions in interim period income tax accounting for year-to-date losses that exceed anticipated losses. The ASU also is designed to improve financial statement preparers’ application of income tax-related guidance and simplify GAAP for (1) franchise taxes that are partially based on income, (2) transactions with a government that result in a step-up in the tax basis of goodwill, (3) separate financial statements of legal entities that are not subject to tax, and (4) enacted changes in tax laws in interim periods. The standard in this update is effective for the Company’s financial statements issued for fiscal years beginning in 2021. The adoption of this ASU did not have a material impact on the Company’s consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, “Financial Instruments - Credit Losses (ASC 326): Measurement of Credit Losses on Financial Instruments.” The updated accounting guidance requires changes to the recognition of credit losses on financial instruments not accounted for at fair value through net income. The Company adopted ASU 2016-13 effective January 1, 2020 and recognized the decrease in the allowance for expected credit losses, net of tax, as a $2.5 million increase to beginning retained earnings. Recently issued accounting standards to be adopted in 2022 or later In November 2021, the FASB issued ASU 2021-10, “Government Assistance (Topic 832) – Disclosures by Business Entities about Government Assistance.” The amendments in this Update require disclosures about transactions with a government that have been accounted for by analogizing to a grant or contribution accounting model to increase transparency about (1) the types of transactions, (2) the accounting for the transactions, and (3) the effect of the transactions on an entity’s financial statements. The amendments in this Update are effective for financial statements issued for annual periods beginning after December 15, 2021. The adoption of this ASU is not expected to have a material impact on the Company’s consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Tabular disclosure of advertising costs	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years ended December 31, 2021 2020 2019 (in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ Advertising ​ $ 91,879 ​ $ 86,314 ​ $ 81,174
Schedule of cash held in foreign banks accounts	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31, 2021 2020 2019 (in thousands) (in US dollars) ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash held in foreign bank accounts ​ $ 78,102 ​ $ 71,330 ​ $ 74,094
Schedule of depreciation expense	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years ended December 31, 2021 2020 2019 (in thousands) ​ ​ ​ ​ ​ ​ Depreciation ​ $ 40,592 ​ $ 40,623 ​ $ 36,646
Basic and diluted earnings per share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years Ended December 31, 2021 2020 2019 Net income available to stockholders ​ $ 350,687 ​ $ 260,824 ​ $ 203,347 Less dividends paid: ​ ​ ​ Common stock ​ (207,482) ​ (159,524) ​ (152,793) Restricted shares of common stock ​ (1,174) ​ (963) ​ (1,042) Undistributed earnings for the period ​ $ 142,031 ​ $ 100,337 ​ $ 49,512 Allocation of undistributed earnings: ​ ​ ​ Common stock ​ 141,224 ​ 99,676 ​ 49,144 Restricted shares of common stock ​ 807 ​ 661 ​ 368 Basic and diluted shares outstanding: ​ ​ ​ Common stock ​ 489,259 ​ 488,364 ​ 487,569 Restricted shares of common stock ​ 2,795 ​ 3,240 ​ 3,647 ​ ​ 492,054 ​ 491,604 ​ 491,216 Basic and diluted earnings per share: ​ ​ ​ Common stock: ​ ​ ​ Distributed earnings ​ $ 0.42 ​ $ 0.33 ​ $ 0.31 Undistributed earnings ​ 0.29 ​ 0.20 ​ 0.10 ​ ​ $ 0.71 ​ $ 0.53 ​ $ 0.41 Restricted shares of common stock: ​ ​ ​ Distributed earnings ​ $ 0.42 ​ $ 0.30 ​ $ 0.29 Undistributed earnings ​ 0.29 ​ 0.20 ​ 0.10 ​ ​ $ 0.71 ​ $ 0.50 ​ $ 0.39

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	12 Months Ended
	Dec. 31, 2021
ACQUISITIONS
Schedule of Assets Acquired and Liabilities assumed recorded at the date of acquisition	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 Accounts receivable, net ​ $ 3,072 ​ $ 3,547 Materials and supplies ​ 891 ​ 582 Equipment and property ​ 8,184 ​ 7,269 Goodwill ​ 69,555 ​ 73,430 Customer contracts ​ 80,239 ​ 72,608 Trademarks & tradenames ​ 1,200 ​ 7,317 Other intangible assets ​ 3,668 ​ 1,333 Current liabilities ​ (6,483) ​ (15,518) Other assets and liabilities, net ​ 288 ​ 9,639 Total consideration paid ​ 160,614 ​ 160,207 Less: Contingent consideration liability ​ (14,516) ​ (12,594) Total cash purchase price ​ $ 146,098 ​ $ 147,613

REVENUE (Tables)

REVENUE (Tables)	12 Months Ended
	Dec. 31, 2021
REVENUE
Revenue by major geographic area, and by significant product and service offerings	The following tables present our revenues disaggregated by revenue source (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 (in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ United States ​ $ 2,240,226 ​ $ 2,006,368 ​ $ 1,862,698 Other countries ​ 184,074 ​ 154,852 ​ 152,779 Total Revenues ​ $ 2,424,300 ​ $ 2,161,220 ​ $ 2,015,477 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (in thousands) ​ 2021 2020 2019 Residential revenue ​ $ 1,103,687 ​ $ 977,470 ​ $ 861,636 Commercial revenue ​ 844,928 ​ 766,716 ​ 770,342 Termite completions, bait monitoring, & renewals ​ 465,053 ​ 406,782 ​ 371,258 Other revenues ​ 10,632 ​ 10,252 ​ 12,241 Total Revenues ​ $ 2,424,300 ​ $ 2,161,220 ​ $ 2,015,477
Changes in unearned revenue	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ 2021 2020 (in thousands) ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ ​ $ 149,224 ​ $ 136,507 Deferral of unearned revenue ​ ​ 206,730 ​ 185,943 Recognition of unearned revenue ​ ​ (187,347) ​ (173,226) Ending balance ​ ​ $ 168,607 ​ $ 149,224

ALLOWANCE FOR CREDIT LOSSES (Ta

ALLOWANCE FOR CREDIT LOSSES (Tables)	12 Months Ended
	Dec. 31, 2021
ALLOWANCE FOR CREDIT LOSSES
Schedule of allowance for credit losses	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for Credit Losses ​ ​ Trade ​ Financed ​ Total (in thousands) ​ Receivables ​ Receivables ​ Receivables Balance at December 31, 2019 ​ $ 16,699 ​ $ 2,959 ​ $ 19,658 Adoption of ASC 326 ​ ​ (3,330) ​ ​ - ​ ​ (3,330) Provision for expected credit losses ​ ​ 14,699 ​ ​ 2,837 ​ ​ 17,536 Write-offs charged against the allowance ​ ​ (18,228) ​ ​ (2,565) ​ ​ (20,793) Recoveries collected ​ ​ 7,014 ​ ​ — ​ ​ 7,014 Balance at December 31, 2020 ​ $ 16,854 ​ $ 3,231 ​ $ 20,085 Provision for expected credit losses ​ ​ 11,732 ​ ​ 3,553 ​ ​ 15,285 Write-offs charged against the allowance ​ (19,882) ​ ​ (2,799) ​ (22,681) Recoveries collected ​ 5,181 ​ ​ — ​ 5,181 Balance at December 31, 2021 ​ $ 13,885 ​ ​ 3,985 ​ $ 17,870
Summary of the past due financing receivables	The following is a summary of the past due financing receivables: ​ ​ ​ ​ ​ ​ ​ At December 31, 2021 2020 (in thousands) ​ ​ ​ ​ ​ ​ 30-59 days past due ​ $ 1,911 ​ $ 2,215 60-89 days past due ​ 1,058 ​ 1,063 90 days or more past due ​ 2,886 ​ 1,745 Total ​ $ 5,855 ​ $ 5,023 ​ The following is a summary of percentage of gross financing receivables: ​ ​ ​ ​ ​ ​ At December 31, 2021 2020 Current 91.7 % 92.3 % 30-59 days past due 2.7 % 3.4 % 60-89 days past due 1.5 % 1.6 % 90 days or more past due 4.1 % 2.7 % Total 100.0 % 100.0 %

EQUIPMENT AND PROPERTY (Tables)

EQUIPMENT AND PROPERTY (Tables)	12 Months Ended
	Dec. 31, 2021
EQUIPMENT AND PROPERTY
Equipment and property are presented at cost less accumulated depreciation	​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 2020 (in thousands) ​ ​ Buildings ​ $ 54,935 ​ $ 91,453 Operating equipment ​ 126,732 ​ 116,791 Furniture and fixtures ​ 19,261 ​ 19,860 Computer equipment and systems ​ 223,648 ​ 212,010 ​ ​ 424,576 ​ 440,114 Less: accumulated depreciation ​ (315,891) ​ (294,226) ​ ​ 108,685 ​ 145,888 Land ​ 24,572 ​ 32,164 Net equipment and property ​ $ 133,257 ​ $ 178,052

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2021
LEASES
Schedule of operating lease costs and other information	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ (in thousands, except Other Information) ​ ​ ​ ​ ​ Lease Classification Financial Statement Classification 2021 2020 ​ Short-term lease cost Cost of services provided, Sales, general, and administrative expenses ​ $ 235 ​ $ 189 ​ Operating lease cost Cost of services provided, Sales, general, and administrative expenses ​ 93,215 ​ 85,426 ​ Total lease expense ​ ​ ​ $ 93,450 ​ $ 85,615 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other Information: ​ ​ ​ Weighted-average remaining lease term - operating leases ​ ​ ​ 5.5 years ​ 3.8 years ​ Weighted-average discount rate - operating leases ​ ​ ​ 3.63 % 3.93 % Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating cash flows for operating leases ​ ​ ​ $ 92,032 ​ $ 84,673 ​
Schedule of Future minimum lease payments	​ ​ ​ ​ ​ ​ Operating (in thousands) ​ ​ 2022 ​ ​ 82,959 2023 ​ 63,380 2024 ​ 39,426 2025 ​ 22,713 2026 ​ 14,882 Thereafter ​ 54,024 Total Future Minimum Lease Payments ​ 277,384 Less: Amount representing interest ​ 29,624 Total future minimum lease payments, net of interest ​ $ 247,760

FAIR VALUE MEASUREMENT (Tables)

FAIR VALUE MEASUREMENT (Tables)	12 Months Ended
	Dec. 31, 2021
FAIR VALUE MEASUREMENT
Summary of the changes in fair value for Level 3 liabilities	​ ​ ​ ​ ​ (in thousands) ​ ​ ​ Acquisition holdback and earnout liabilities at December 31, 2019 $ 49,132 New acquisitions ​ ​ 12,594 Revaluations ​ ​ (2,305) Payouts ​ ​ (24,011) Interest on outstanding contingencies ​ ​ 2,025 Charge offset, forfeit and other ​ ​ (1,691) Acquisition holdback and earnout liabilities at December 31, 2020 ​ ​ 35,744 New acquisitions ​ ​ 14,516 Revaluations ​ ​ — Payouts ​ ​ (22,809) Interest on outstanding contingencies ​ ​ 855 Charge offset, forfeit and other ​ ​ (3,150) Acquisition holdback and earnout liabilities at December 31, 2021 ​ $ 25,156

GOODWILL (Tables)

GOODWILL (Tables)	12 Months Ended
	Dec. 31, 2021
CUSTOMER CONTRACTS, TRADENAMES AND TRADEMARKS, AND OTHER INTANGIBLE ASSETS
The changes in the carrying amount of goodwill	​ ​ ​ ​ ​ (in thousands) ​ Goodwill at December 31, 2019 $ 572,847 Goodwill acquired ​ 73,430 Goodwill adjustments due to currency translation ​ 6,899 Goodwill at December 31, 2020 ​ 653,176 Goodwill acquired ​ 69,264 Goodwill adjustments due to currency translation ​ (621) Goodwill at December 31, 2021 ​ $ 721,819

CUSTOMER CONTRACTS, TRADENAME_2

CUSTOMER CONTRACTS, TRADENAMES AND TRADEMARKS, AND OTHER INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2021
Intangible assets
Estimated amortization expense for the existing carrying amount of customer contracts and other intangible assets	​ ​ ​ ​ ​ (in thousands) ​ 2022 $ 58,635 2023 ​ 54,027 2024 ​ 50,601 2025 ​ 41,483 2026 ​ 37,084
Customer Contracts, Net
Intangible assets
Schedule of finite-lived intangible assets	​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 2020 (in thousands) ​ ​ ​ ​ ​ ​ Customer contracts ​ $ 551,277 ​ $ 475,494 Less: accumulated amortization ​ (225,348) ​ (176,545) Customer contracts, net ​ $ 325,929 ​ $ 298,949
Trademarks & Tradenames, Net
Intangible assets
Schedule of intangible assets	​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 2020 (in thousands) ​ ​ Trademarks and tradenames ​ $ 115,468 ​ $ 115,131 Less: accumulated amortization ​ (6,492) ​ (6,087) Trademarks and tradenames, net ​ $ 108,976 ​ $ 109,044
Other Intangible Assets, Net
Intangible assets
Schedule of intangible assets	​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 2020 (in thousands) ​ ​ Other intangible assets ​ $ 24,448 ​ $ 23,247 Less: accumulated amortization ​ (12,769) ​ (12,470) Other intangible assets, net ​ $ 11,679 ​ $ 10,777

DERIVATIVE INSTRUMENTS AND HE_2

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	12 Months Ended
	Dec. 31, 2021
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
Summary of outstanding FX Forwards	As of December 31, 2020, the Company had the following outstanding FX Forwards (in thousands except for number of instruments): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Number of ​ Sell ​ Buy FX Forward Contracts Instruments Notional Notional Sell AUD/Buy USD Fwd Contract ​ 19 ​ $ 2,500 ​ $ 1,813 Sell CAD/Buy USD Fwd Contract ​ 19 ​ ​ 19,000 ​ ​ 14,994 Total ​ 38 ​ ​ $ 16,807

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2021
INCOME TAXES
Company's income tax provision	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the years ended December 31, 2021 2020 2019 (in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ Current: ​ ​ ​ ​ ​ ​ ​ ​ ​ Federal ​ $ 87,888 ​ $ 67,861 ​ $ 43,593 State ​ 24,131 ​ 18,381 ​ 15,337 Foreign ​ 10,480 ​ 8,869 ​ 6,111 Total current tax ​ 122,499 ​ 95,111 ​ 65,041 Deferred: ​ ​ ​ Federal ​ (34) ​ (2,076) ​ (5,217) State ​ 1,795 ​ 312 ​ (1,518) Foreign ​ (109) ​ 549 ​ (493) Total deferred tax ​ 1,652 ​ (1,215) ​ (7,228) Total income tax provision ​ $ 124,151 ​ $ 93,896 ​ $ 57,813
Primary factors causing income tax expense to be different than the federal statutory rate	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the years ended December 31, 2021 2020 2019 (in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ Income tax at statutory rate ​ $ 99,716 ​ $ 74,491 ​ $ 54,845 State income tax expense (net of federal benefit) ​ 19,135 ​ 14,393 ​ 10,182 Foreign tax expense ​ 2,837 ​ 2,341 ​ 933 Foreign tax credit ​ (273) ​ (240) ​ (242) Repatriation tax under the Tax Cuts and Jobs Act of 2017 ​ — ​ — ​ (844) Pension settlement ​ — ​ — ​ (10,537) Executive compensation ​ 2,786 ​ 5,557 ​ 2,445 Restricted stock adjustments ​ (3,468) ​ (3,927) ​ (2,973) Other ​ 3,418 ​ 1,281 ​ 4,004 Total income tax provision ​ $ 124,151 ​ $ 93,896 ​ $ 57,813
Significant components of the Company's deferred tax assets and liabilities	​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 2020 (in thousands) ​ ​ Deferred tax assets: ​ ​ Insurance and contingencies ​ $ 18,258 ​ $ 19,531 Unearned revenues ​ 12,051 ​ 11,825 Compensation and benefits ​ 13,546 ​ 12,304 State and foreign operating loss carryforwards ​ 1,234 ​ 2,768 Bad debt reserve ​ 3,873 ​ 4,214 Foreign tax credit ​ 4,775 ​ 3,804 Termite accrual ​ ​ 642 ​ ​ 721 Net pension liability ​ ​ 195 ​ ​ — Other ​ 3,371 ​ 2,519 Valuation allowance ​ (192) ​ (144) Total deferred tax assets ​ 57,753 ​ 57,542 Deferred tax liabilities: ​ ​ Depreciation and amortization ​ (24,261) ​ (25,730) Net pension liability ​ — ​ (727) Intangibles and other ​ (43,799) ​ (39,475) Total deferred tax liabilities ​ $ (68,060) ​ $ (65,932) Net deferred taxes ​ ​ Deferred tax assets ​ $ 2,948 ​ $ 2,222 Deferred tax liabilities ​ $ (13,255) ​ $ (10,612)
Analysis of the valuation allowance	​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 2020 (in thousands) ​ ​ ​ ​ ​ ​ Valuation allowance at beginning of year ​ $ 144 ​ $ 83 Increase in valuation allowance ​ 48 ​ 61 Valuation allowance at end of year ​ $ 192 ​ $ 144
Reconciliation of the beginning and ending amount of unrecognized tax benefits	​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 2020 (in thousands) ​ ​ Unrecognized tax benefits at beginning of year ​ $ 844 ​ $ 844 Additions for tax positions of prior years ​ 174 ​ — Unrecognized tax benefits at end of year ​ $ 1,018 ​ $ 844

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	12 Months Ended
	Dec. 31, 2021
EMPLOYEE BENEFIT PLANS
Schedule of non-qualified deferred compensation plan assets using the fair value hierarchy	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (in thousands) Level 1 Level 2 Level 3 ​ NAV Total December 31, 2021 ​ $ 25 ​ $ — ​ $ — ​ $ 27,211 ​ $ 27,236 December 31, 2020 ​ $ 25 ​ $ — ​ $ — ​ $ 24,460 ​ $ 24,485

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2021
STOCK-BASED COMPENSATION
Components of the Company's stock-based compensation	The following table summarizes the components of the Company’s stock-based compensation programs recorded as expense ($ in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (in thousands) ​ 2021 2020 2019 Time lapse restricted stock: ​ ​ ​ ​ Pre-tax compensation expense ​ $ 14,865 ​ $ 20,850 ​ $ 14,158 Tax benefit ​ (3,208) ​ (3,752) ​ (3,596) Restricted stock expense, net of tax ​ $ 11,657 ​ $ 17,098 ​ $ 10,562 ​
Summary information on unvested restricted stock outstanding	​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ ​ Number of ​ Grant-Date (number of shares in thousands) Shares Fair Value Unvested as of December 31, 2018 ​ 4,086 ​ $ 13.69 Forfeited (147) ​ 16.40 Vested (1,201) ​ 11.59 Granted 727 ​ 25.60 Unvested as of December 31, 2019 3,465 ​ 17.23 Forfeited (59) ​ 17.11 Vested (1,397) ​ 15.29 Granted 861 ​ 24.53 Unvested Restricted Stock at December 31, 2020 2,870 $ 20.36 Forfeited (191) ​ 25.34 Vested (861) ​ 16.67 Granted 778 ​ 37.04 Unvested Restricted Stock at December 31, 2021 2,596 ​ $ 26.16

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME(LOSS) (Tables)	12 Months Ended
	Dec. 31, 2021
ACCUMULATED OTHER COMPREHENSIVE INCOME(LOSS)
Accumulated other comprehensive income/ (loss)	Accumulated other comprehensive income/ (loss) consist of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign ​ ​ ​ ​ ​ ​ Pension Liability ​ Currency ​ Interest ​ ​ ​ Adjustment Translation Rate Swaps Total Balance at December 31, 2018 ​ $ (46,091) ​ $ (24,987) ​ $ — ​ $ (71,078) Change during 2019: ​ ​ ​ ​ Before-tax amount ​ 75,449 ​ 4,350 ​ (277) ​ 79,522 Tax expense ​ (29,553) ​ — ​ — ​ (29,553) Other comprehensive earnings/(loss) ​ 45,896 ​ 4,350 ​ (277) ​ 49,969 Balance at December 31, 2019 ​ (195) ​ (20,637) ​ (277) ​ (21,109) Change during 2020: ​ ​ ​ ​ Before-tax amount ​ (173) ​ 10,443 ​ (141) ​ 10,129 Tax expense ​ 46 ​ — ​ 37 ​ 83 Other comprehensive earnings/(loss) ​ (127) ​ 10,443 ​ (104) ​ 10,212 Balance at December 31, 2020 ​ (322) ​ (10,194) ​ (381) ​ (10,897) Change during 2021: ​ ​ ​ ​ Before-tax amount ​ — ​ (5,895) ​ 516 ​ (5,379) Tax benefit ​ — ​ — ​ (135) ​ (135) Other comprehensive earnings/(loss) ​ — ​ (5,895) ​ 381 ​ (5,514) Balance at December 31, 2021 ​ $ (322) ​ $ (16,089) ​ $ — ​ $ (16,411)

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Advertising (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Advertising	$ 91,879	$ 86,314	$ 81,174

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash	$ 105,300
International
Cash	$ 78,102	$ 71,330	$ 74,094

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Depreciation	$ 40,592	$ 40,623	$ 36,646
Buildings | Minimum
Property, Plant and Equipment [Line Items]
Asset life	10 years
Buildings | Maximum
Property, Plant and Equipment [Line Items]
Asset life	40 years
Furniture and fixtures | Minimum
Property, Plant and Equipment [Line Items]
Asset life	2 years
Furniture and fixtures | Maximum
Property, Plant and Equipment [Line Items]
Asset life	10 years
Operating equipment | Minimum
Property, Plant and Equipment [Line Items]
Asset life	2 years
Operating equipment | Maximum
Property, Plant and Equipment [Line Items]
Asset life	10 years
Internal-use software and systems development costs | Minimum
Property, Plant and Equipment [Line Items]
Asset life	3 years
Internal-use software and systems development costs | Maximum
Property, Plant and Equipment [Line Items]
Asset life	7 years

SUMMARY OF SIGNIFICANT ACCOUN_7

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Earnings per share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Net income	$ 350,687	$ 260,824	$ 203,347
Payments of Ordinary Dividends, Common Stock	(208,656)	(160,487)	(153,836)
Undistributed earnings for the period	$ 142,031	$ 100,337	$ 49,512
Weighted average shares outstanding - basic	492,054	491,604	491,216
Weighted average shares outstanding - diluted	492,054	491,604	491,216
Basic earnings per share	$ 0.71	$ 0.53	$ 0.41
Diluted earnings per share	$ 0.71	$ 0.53	$ 0.41
Common Stock
Payments of Ordinary Dividends, Common Stock	$ (207,482)	$ (159,524)	$ (152,793)
Undistributed earnings for the period	$ 141,224	$ 99,676	$ 49,144
Weighted average shares outstanding - basic	489,259	488,364	487,569
Weighted average shares outstanding - diluted	489,259	488,365	487,569
Earnings Per Share, Basic, Distributed earnings	$ 0.42	$ 0.33	$ 0.31
Earnings Per Share, Basic, Undistributed earnings	0.29	0.20	0.10
Earnings Per Share, Diluted, Distributed earnings	0.43	0.33	0.31
Earnings Per Share, Diluted, Undistributed earnings	0.29	0.20	0.10
Basic earnings per share	0.71	0.53	0.41
Diluted earnings per share	$ 0.72	$ 0.53	$ 0.41
Restricted shares of common stock
Payments of Ordinary Dividends, Common Stock	$ (1,174)	$ (963)	$ (1,042)
Undistributed earnings for the period	$ 807	$ 661	$ 368
Weighted average shares outstanding - basic	2,795	3,240	3,647
Weighted average shares outstanding - diluted	2,795	3,240	3,647
Earnings Per Share, Basic, Distributed earnings	$ 0.42	$ 0.30	$ 0.29
Earnings Per Share, Basic, Undistributed earnings	0.29	0.20	0.10
Earnings Per Share, Diluted, Distributed earnings	0.42	0.30	0.29
Earnings Per Share, Diluted, Undistributed earnings	0.29	0.20	0.10
Basic earnings per share	0.71	0.50	0.39
Diluted earnings per share	$ 0.71	$ 0.50	$ 0.39

SUMMARY OF SIGNIFICANT ACCOUN_8

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details)	12 Months Ended
	Dec. 31, 2021USD ($)itemshares	Dec. 31, 2020USD ($)itemshares	Dec. 31, 2019USD ($)itemshares	Dec. 31, 2018shares
Summary of significant accounting policies
Revenues	$ 2,424,300,000	$ 2,161,220,000	$ 2,015,477,000
Deferred revenue	168,607,000	149,224,000	136,507,000
Retained earnings	500,919,000	$ 358,888,000
Goodwill impairment loss	0
Impairment of intangible assets	$ 0
Number of stock options outstanding | shares	0
Accounting Standards Update 2016-13 [Member] | Impact of adoption of ASC
Summary of significant accounting policies
Retained earnings			$ 2,500,000
Time Lapse Restricted Shares Issued 2004 [Member]
Summary of significant accounting policies
Award vesting period	6 years
Annual percentage after the first year awards are vested	20.00%
Number of potentially dilutive instruments outstanding | shares	2,596,000	2,870,000	3,465,000	4,086,000
UNITED STATES
Summary of significant accounting policies
Number of franchise agreements | item	135	128	134
Revenues	$ 2,240,226,000	$ 2,006,368,000	$ 1,862,698,000
International
Summary of significant accounting policies
Number of franchise agreements | item	103	101	104
Revenues	$ 184,074,000	$ 154,852,000	$ 152,779,000
Percent of total revenues	8.00%	7.00%	8.00%
Cash held in FDIC	$ 27,200,000
Franchising revenue
Summary of significant accounting policies
Revenues	$ 15,500,000	$ 15,200,000	$ 17,100,000
Maximum | Franchising revenue
Summary of significant accounting policies
Percent of total revenues	1.00%	1.00%	1.00%
Maximum | Equipment rental
Summary of significant accounting policies
Percent of total revenues	1.00%	1.00%	1.00%

ACQUISITIONS - Assets acquired

ACQUISITIONS - Assets acquired and liabilities assumed (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Goodwill	$ 721,819	$ 653,176	$ 572,847
Total cash purchase price	146,100	147,600
Acquisitions
Business Acquisition [Line Items]
Accounts receivable, net	3,072	3,547
Materials and supplies	891	582
Equipment and property	8,184	7,269
Goodwill	69,555	73,430
Current liabilities	(6,483)	(15,518)
Other assets and liabilities, net	288	9,639
Total consideration paid	160,614	160,207
Less: Contingent consideration liability	(14,516)	(12,594)
Total cash purchase price	146,098	147,613
Acquisitions | Customer Contracts, Net
Business Acquisition [Line Items]
Intangible assets	80,239	72,608
Acquisitions | Trademarks & Tradenames, Net
Business Acquisition [Line Items]
Intangible assets	1,200	7,317
Acquisitions | Other Intangible Assets, Net
Business Acquisition [Line Items]
Intangible assets	$ 3,668	$ 1,333

ACQUISITIONS - Narrative (Detai

ACQUISITIONS - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)item	Dec. 31, 2020USD ($)item
BUSINESS COMBINATIONS
Number of Businesses Acquired | item	39	31
Total cash purchase price	$ 146,100	$ 147,600
Increase in goodwill due to acquisition	$ 69,264	$ 73,430

REVENUE - Disaggregation (Detai

REVENUE - Disaggregation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Revenues	$ 2,424,300	$ 2,161,220	$ 2,015,477
UNITED STATES
Disaggregation of Revenue [Line Items]
Revenues	2,240,226	2,006,368	1,862,698
International
Disaggregation of Revenue [Line Items]
Revenues	$ 184,074	$ 154,852	$ 152,779

REVENUE -Significant product an

REVENUE -Significant product and service offerings (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Revenues	$ 2,424,300	$ 2,161,220	$ 2,015,477
Residential revenue
Disaggregation of Revenue [Line Items]
Revenues	1,103,687	977,470	861,636
Commercial revenue
Disaggregation of Revenue [Line Items]
Revenues	844,928	766,716	770,342
Termite completions, bait monitoring, & renewals
Disaggregation of Revenue [Line Items]
Revenues	465,053	406,782	371,258
Other revenues
Disaggregation of Revenue [Line Items]
Revenues	$ 10,632	$ 10,252	$ 12,241

REVENUE - Deferred revenue (Det

REVENUE - Deferred revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
REVENUE
Beginning balance	$ 149,224	$ 136,507
Deferral of unearned revenue	206,730	185,943
Recognition of unearned revenue	(187,347)	(173,226)
Ending balance	168,607	149,224
Long-term unearned revenue	$ 23,500	$ 18,000
Long-term unearned revenue, recognition period (or less)	5 years

DEBT (Details)

DEBT (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Apr. 30, 2019	Dec. 31, 2021	Feb. 25, 2022	Jan. 27, 2022	Dec. 31, 2020
Letter of Credit
Line of Credit Facility [Line Items]
Letters of credit outstanding		$ 37.2
Credit Agreement
Line of Credit Facility [Line Items]
Long-term Line of Credit		$ 155			$ 203
Leverage ratio		3
Credit Agreement | LIBOR
Line of Credit Facility [Line Items]
Effective interest rate		0.85%
Variable interest rate		0.75%
Term Loan
Line of Credit Facility [Line Items]
Long-term Line of Credit			$ 300
Term Loan One
Line of Credit Facility [Line Items]
Long-term Line of Credit	$ 250	$ 48	48
Term of debt	5 years
Balloon payment to be paid		48
Term Loan Two
Line of Credit Facility [Line Items]
Long-term Line of Credit			$ 252	$ 252
Revolving Credit Agreement
Line of Credit Facility [Line Items]
Borrowing capacity	$ 175
Long-term Line of Credit		$ 107
Term of debt	5 years
Revolving Credit Agreement | Letter of Credit
Line of Credit Facility [Line Items]
Borrowing capacity	$ 75
Revolving Credit Agreement | Swingline
Line of Credit Facility [Line Items]
Borrowing capacity	$ 25

ALLOWANCE FOR CREDIT LOSSES (De

ALLOWANCE FOR CREDIT LOSSES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning Balance	$ 20,085	$ 19,658
Impact of adoption of ASC 326	17,870	20,085
Provision for expected credit losses	15,285	17,536
Write-offs charged against the allowance	(22,681)	(20,793)
Recoveries collected	(5,181)	7,014
Ending Balance	17,870	20,085
Impact of adoption of ASC
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning Balance	(3,330)
Impact of adoption of ASC 326		(3,330)
Ending Balance		(3,330)
Trade Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning Balance	16,854	16,699
Impact of adoption of ASC 326	13,885	16,854
Provision for expected credit losses	11,732	14,699
Write-offs charged against the allowance	(19,882)	(18,228)
Recoveries collected	(5,181)	7,014
Ending Balance	13,885	16,854
Trade Receivable | Impact of adoption of ASC
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning Balance	(3,330)
Impact of adoption of ASC 326		(3,330)
Ending Balance		(3,330)
Financed Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning Balance	3,231	2,959
Impact of adoption of ASC 326	3,985	3,231
Provision for expected credit losses	3,553	2,837
Write-offs charged against the allowance	(2,799)	(2,565)
Ending Balance	$ 3,985	$ 3,231

ALLOWANCE FOR CREDIT LOSSES - P

ALLOWANCE FOR CREDIT LOSSES - Past Due Amounts (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Financial Asset, Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing receivable	$ 5,855	$ 5,023
Financial Asset, 30 to 59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing receivable	1,911	2,215
Financial Asset, 60 to 89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing receivable	1,058	1,063
Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing receivable	$ 2,886	$ 1,745

ALLOWANCE FOR CREDIT LOSSES -_2

ALLOWANCE FOR CREDIT LOSSES - Past due percentages (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Financial Asset, Past Due [Member]
Financing Receivable, Past Due [Line Items]
Percentage of gross financing receivable	100.00%	100.00%
Financial Asset, Current
Financing Receivable, Past Due [Line Items]
Percentage of gross financing receivable	91.70%	92.30%
Financial Asset, 30 to 59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Percentage of gross financing receivable	2.70%	3.40%
Financial Asset, 60 to 89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Percentage of gross financing receivable	1.50%	1.60%
Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Percentage of gross financing receivable	4.10%	2.70%

ALLOWANCE FOR CREDIT LOSSES - N

ALLOWANCE FOR CREDIT LOSSES - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)item	Dec. 31, 2020USD ($)
ALLOWANCE FOR CREDIT LOSSES
Financed receivables, long-term, net of allowance for expected credit losses	$ 47,097	$ 38,187
Net financing receivables	$ 73,200	$ 61,900
Financing receivable, percentage of finance subject to credit score	100.00%
Number of days to elapse for financing receivables to be charged-off	180 days
Charge-offs as a percentage of average financing receivables	4.30%	4.60%
Number of days the Company offers cash financing to customers	90 days
Number of days when the Company charges interest on cash financing to customers	91 days
Period of past due loans that continue to accrue interest due to an administrative issue	180 days
Number of accounts greater than 180 past due, which have been fully reserved | item	1

EQUIPMENT AND PROPERTY (Details

EQUIPMENT AND PROPERTY (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Less: accumulated depreciation	$ (315,891)	$ (294,226)
Net equipment and property	133,257	178,052
Buildings
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	54,935	91,453
Operating equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	126,732	116,791
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	19,261	19,860
Computer equipment and systems
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	223,648	212,010
Plant And Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	424,576	440,114
Less: accumulated depreciation	(315,891)	(294,226)
Net equipment and property	108,685	145,888
Land [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 24,572	$ 32,164

EQUIPMENT AND PROPERTY - Narrat

EQUIPMENT AND PROPERTY - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Accumulated depreciation	$ 315,891	$ 294,226
Depreciation	40,592	40,623	$ 36,646
Computer equipment and systems
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	223,648	212,010
Internal use software
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	143,500	137,900
Accumulated depreciation	105,300	89,400
Foreign Countries [Member]
Property, Plant and Equipment [Line Items]
Fixed Assets held in Foreign Countries	$ 8,400	$ 8,500

LEASES - Lease Information (Det

LEASES - Lease Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
LEASES
Short-term lease cost	$ 235	$ 189
Operating lease cost	93,215	85,426
Total lease expense	$ 93,450	$ 85,615
Weighted-average remaining lease term - operating leases	5 years 6 months	3 years 9 months 18 days
Weighted-average discount rate - operating leases	3.63%	3.93%
Operating cash flows for operating leases	$ 92,032	$ 84,673

LEASES - Minimum lease payments

LEASES - Minimum lease payments (Details) $ in Thousands	Dec. 31, 2021USD ($)
LEASES
2022	$ 82,959
2023	63,380
2024	39,426
2025	22,713
2026	14,882
Thereafter	54,024
Total Future Minimum Lease Payments	277,384
Less: Amount representing interest	(29,624)
Total future minimum lease payments, net of interest	$ 247,760

LEASES - Narrative (Details)

LEASES - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)property	Dec. 31, 2020
Lessor, Lease, Description [Line Items]
Future minimum lease payments	$ 277,384
Number of properties associated in sale leaseback transactions | property	17
Lease not yet commenced, future minimum payments due	$ 4,800
Other (income) expense, net
Lessor, Lease, Description [Line Items]
Gross proceeds sale-leaseback transactions	67,000
Gain on sale-leaseback transactions	$ 31,500
Minimum
Lessor, Lease, Description [Line Items]
Sale leaseback transaction lease term	P7Y
Maximum
Lessor, Lease, Description [Line Items]
Sale leaseback transaction lease term	15 years
Buildings
Lessor, Lease, Description [Line Items]
Future minimum lease payments	$ 162,100
Buildings | Minimum
Lessor, Lease, Description [Line Items]
Term of contract	5 years	5 years
Buildings | Maximum
Lessor, Lease, Description [Line Items]
Term of contract	10 years	10 years
Vehicles
Lessor, Lease, Description [Line Items]
Future minimum lease payments	$ 115,300
Vehicles | Minimum
Lessor, Lease, Description [Line Items]
Term of contract	1 year	1 year
Vehicles | Maximum
Lessor, Lease, Description [Line Items]
Term of contract	7 years	7 years

FAIR VALUE MEASUREMENT - Level

FAIR VALUE MEASUREMENT - Level 3 (Details) - Recurring - Level 3 - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	$ 35,744	$ 49,132
New acquisitions	14,516	12,594
Revaluations		(2,305)
Payouts	(22,809)	(24,011)
Interest on outstanding contingencies	855	2,025
Charge offset, forfeit and other	(3,150)	(1,691)
Ending balance	$ 25,156	$ 35,744

FAIR VALUE MEASUREMENT - Narrat

FAIR VALUE MEASUREMENT - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Acquisition holdback and earn out liabilities	$ 25,156	$ 35,744	$ 49,132
International Bond | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrestricted Cash Invested in International Bond	$ 12,700

GOODWILL (Details)

GOODWILL (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
CUSTOMER CONTRACTS, TRADENAMES AND TRADEMARKS, AND OTHER INTANGIBLE ASSETS
Goodwill, beginning balance	$ 653,176	$ 572,847
Goodwill acquired	69,264	73,430
Goodwill adjustments due to currency translation	(621)	6,899
Goodwill, ending balance	$ 721,819	$ 653,176

GOODWILL - Narrative (Details)

GOODWILL - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Goodwill [Line Items]
Goodwill	$ 721,819	$ 653,176	$ 572,847
International
Goodwill [Line Items]
Goodwill	$ 82,100	$ 81,400

CUSTOMER CONTRACTS, TRADENAME_3

CUSTOMER CONTRACTS, TRADENAMES AND TRADEMARKS, AND OTHER INTANGIBLE ASSETS - Customer contracts (Details) - Customer Contracts, Net - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross finite-lived intangible assets	$ 551,277	$ 475,494
Less: accumulated amortization	(225,348)	(176,545)
Net finite-lived intangible assets	$ 325,929	$ 298,949

CUSTOMER CONTRACTS, TRADENAME_4

CUSTOMER CONTRACTS, TRADENAMES AND TRADEMARKS, AND OTHER INTANGIBLE ASSETS - Trademarks and tradenames (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Trademarks & Tradenames, Net
Finite-Lived Intangible Assets [Line Items]
Gross intangible assets	$ 102,700	$ 97,400
Trademarks & Tradenames, Net
Finite-Lived Intangible Assets [Line Items]
Gross intangible assets	115,468	115,131
Less: accumulated amortization	(6,492)	(6,087)
Intangible assets, net	$ 108,976	$ 109,044

CUSTOMER CONTRACTS, TRADENAME_5

CUSTOMER CONTRACTS, TRADENAMES AND TRADEMARKS, AND OTHER INTANGIBLE ASSETS - Other intangible assets (Details) - Other Intangible Assets, Net - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross intangible assets	$ 24,448	$ 23,247
Less: accumulated amortization	(12,769)	(12,470)
Intangible assets, net	$ 11,679	$ 10,777

CUSTOMER CONTRACTS, TRADENAME_6

CUSTOMER CONTRACTS, TRADENAMES AND TRADEMARKS, AND OTHER INTANGIBLE ASSETS - Amortization (Details) $ in Thousands	Dec. 31, 2021USD ($)
CUSTOMER CONTRACTS, TRADENAMES AND TRADEMARKS, AND OTHER INTANGIBLE ASSETS
2022	$ 58,635
2023	54,027
2024	50,601
2025	41,483
2026	$ 37,084

CUSTOMER CONTRACTS, TRADENAME_7

CUSTOMER CONTRACTS, TRADENAMES AND TRADEMARKS, AND OTHER INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Intangible assets
Amortization Expenses	$ 53,600	$ 47,700	$ 44,500
Trademarks & Tradenames, Net
Intangible assets
Gross intangible assets	102,700	97,400
Internet domains
Intangible assets
Gross intangible assets	2,200	2,200
Customer Contracts, Net
Intangible assets
Finite-Lived Intangible Assets, Net	325,929	298,949
Customer Contracts, Net | International
Intangible assets
Finite-Lived Intangible Assets, Net	$ 42,100	45,700
Customer Contracts, Net | Minimum
Intangible assets
Finite-Lived Intangible Asset, Useful Life	7 years
Customer Contracts, Net | Maximum
Intangible assets
Finite-Lived Intangible Asset, Useful Life	20 years
Trademarks & Tradenames, Net
Intangible assets
Gross intangible assets	$ 115,468	115,131
Trademarks & Tradenames, Net | International
Intangible assets
Finite-Lived Intangible Assets, Net	$ 2,900	3,300
Trademarks & Tradenames, Net | Minimum
Intangible assets
Finite-Lived Intangible Asset, Useful Life	7 years
Trademarks & Tradenames, Net | Maximum
Intangible assets
Finite-Lived Intangible Asset, Useful Life	20 years
Other Intangible Assets, Net
Intangible assets
Gross intangible assets	$ 24,448	23,247
Other Intangible Assets, Net | International
Intangible assets
Finite-Lived Intangible Assets, Net	$ 700	$ 1,000
Non-compete agreements | Minimum
Intangible assets
Finite-Lived Intangible Asset, Useful Life	3 years
Non-compete agreements | Maximum
Intangible assets
Finite-Lived Intangible Asset, Useful Life	20 years
Patents
Intangible assets
Finite-Lived Intangible Asset, Useful Life	15 years

DERIVATIVE INSTRUMENTS AND HE_3

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Details) $ in Thousands	Dec. 31, 2021USD ($)instrument
Not Designated as Hedging Instrument [Member]
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
Derivative, Number of Instruments Held | instrument	38
Buy Notional	$ 16,807
Sell AUD/Buy USD Fwd Contract [Member]
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
Derivative, Number of Instruments Held | instrument	19
Sell Notional	$ 2,500
Buy Notional	$ 1,813
Sell CAD/Buy USD Fwd Contract [Member]
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
Derivative, Number of Instruments Held | instrument	19
Sell Notional	$ 19,000
Buy Notional	$ 14,994

DERIVATIVE INSTRUMENTS AND HE_4

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Jun. 19, 2019
Interest Rate Swap | Cash Flow Hedges
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
Notional amount				$ 100
Fixed interest rate				1.94%
Gain (loss) on reclassification of accumulated other comprehensive income			$ 0.1
Interest Rate Swap | Cash Flow Hedges | Designated as Hedging Instrument | Interest Expense
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
Gain (loss) on reclassification of accumulated other comprehensive income	$ 0.4	$ 0.7
Foreign Exchange Forward | Other Current Liabilities
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
Fair value of liability	0	0.4
Foreign Exchange Forward | Other Income/Expense
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
Gain (loss) on derivatives	$ (0.4)	$ (0.4)

INCOME TAXES - Provision (Detai

INCOME TAXES - Provision (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Current:
Federal	$ 87,888	$ 67,861	$ 43,593
State	24,131	18,381	15,337
Foreign	10,480	8,869	6,111
Total current tax	122,499	95,111	65,041
Deferred:
Federal	(34)	(2,076)	(5,217)
State	1,795	312	(1,518)
Foreign	(109)	549	(493)
Total deferred tax	1,652	(1,215)	(7,228)
Total income tax provision	$ 124,151	$ 93,896	$ 57,813

INCOME TAXES - Reconciliation (

INCOME TAXES - Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
INCOME TAXES
Income tax at statutory rate	$ 99,716	$ 74,491	$ 54,845
State income tax expense (net of federal benefit)	19,135	14,393	10,182
Foreign tax expense	2,837	2,341	933
Foreign tax credit	(273)	(240)	(242)
Repatriation tax under the Tax Cuts and Jobs Act of 2017			(844)
Pension settlement			(10,537)
Executive compensation	2,786	5,557	2,445
Restricted stock adjustments	(3,468)	(3,927)	(2,973)
Other	3,418	1,281	4,004
Total income tax provision	$ 124,151	$ 93,896	$ 57,813

INCOME TAXES - Deferred tax ass

INCOME TAXES - Deferred tax assets and liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets
Insurance and contingencies	$ 18,258	$ 19,531
Unearned revenues	12,051	11,825
Compensation and benefits	13,546	12,304
State and foreign operating loss carryforwards	1,234	2,768
Bad debt reserve	3,873	4,214
Foreign tax credit	4,775	3,804
Termite accrual	642	721
Net pension liability	195
Other	3,371	2,519
Valuation allowance	(192)	(144)	$ (83)
Total deferred tax assets	57,753	57,542
Deferred tax liabilities
Depreciation and amortization	(24,261)	(25,730)
Net pension liability		(727)
Intangibles and other	(43,799)	(39,475)
Total deferred tax liabilities	(68,060)	(65,932)
Net deferred taxes
Deferred tax liabilities	(13,255)	(10,612)
Other Assets
Net deferred taxes
Deferred tax assets	$ 2,948	$ 2,222

INCOME TAXES - Valuation allowa

INCOME TAXES - Valuation allowance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
INCOME TAXES
Valuation allowance at beginning of year	$ 144	$ 83
Increase in valuation allowance	48	61
Valuation allowance at end of year	$ 192	$ 144

INCOME TAXES - Unrecognized tax

INCOME TAXES - Unrecognized tax benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
INCOME TAXES
Unrecognized tax benefits at beginning of year	$ 844	$ 844
Additions for tax positions of prior years	174
Unrecognized tax benefits at end of year	1,018	$ 844
Amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate	$ 1,000

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Operating Loss Carryforwards [Line Items]
Provision for Income Tax, effective rate	26.10%	26.50%	22.10%
Cash paid for income taxes, net	$ 119,762	$ 81,184	$ 75,812
Foreign earnings from continuing operations before income tax	32,500	25,300	$ 26,700
Accrued interest and penalties	200	$ 70
Interest and penalties	200
International
Operating Loss Carryforwards [Line Items]
Tax Credit Carryforward	4,800
State and Local and Foreign Jurisdiction [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	23,900
Foreign Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	1,000
Increase in valuation allowance, net operating losses	$ 50

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) $ in Millions	Dec. 31, 2021USD ($)
Other Current Liabilities
COMMITMENTS AND CONTINGENCIES
Accruals	$ 8

EMPLOYEE BENEFIT PLANS - Non-qu

EMPLOYEE BENEFIT PLANS - Non-qualified deferred compensation plan assets fair value (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Deferred Compensation Plan Assets	$ 27,236	$ 24,485
Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Deferred Compensation Plan Assets	25	25
NAV
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Deferred Compensation Plan Assets	$ 27,211	$ 24,460

EMPLOYEE BENEFIT PLANS - Narrat

EMPLOYEE BENEFIT PLANS - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)policy	Dec. 31, 2020USD ($)itempolicy	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)
Employee benefit plans
Requisite service hours for non full-time employees to participate in contribution plan	1000 hours
Maximum percentage of base salary to be deferred	50.00%
Maximum percentage of annual bonus to be deferred	85.00%
Minimum deferral amount per plan year	$ 2
Number of life insurance policies | policy	75	75
Life insurance policies, net face value	$ 53,100	$ 50,200
Cash surrender value of life insurance policies	27,200	24,500
Total expense (income) related to deferred compensation	322	278	$ 250
Deferred compensation liability	23,600	21,500
Deferred Compensation Plan Assets	$ 27,236	24,485
Pension Plan
Employee benefit plans
Defined benefit plan excise tax percentage	20.00%
Defined benefit plan tax paid upon reversion percent	46.10%
Rollins, Inc. Plan
Employee benefit plans
Employer contributions to 401(k) plan		18,000	11,000
Benefit plan assets		1,200		$ 31,800
401(k) Plan
Employee benefit plans
Requisite service period for full-time employees to participate in contribution plan	3 months
Period of service after which the non-full time employees are eligible to participate in defined contribution plan	1 year
Employers match of employees pay (as a percent)	100.00%
Employer contribution	$ 25,700	$ 27,400	$ 25,500
Percentage of Rollins, Inc. Common Stock to plan assets	28.70%	34.90%	30.80%
Administrative fees	$ 100	$ 100	$ 100
401(k) Plan | First percentage of an employees compensation that the Company will match
Employee benefit plans
Employers match of employees pay (as a percent)	3.00%
Employers match of employees contribution (as a percent)	3.00%
401(k) Plan | Maximum percentage to be matched over the initial percentage
Employee benefit plans
Employers match of employees pay (as a percent)	50.00%
401(k) Plan | Maximum | Maximum percentage to be matched over the initial percentage
Employee benefit plans
Employers match of employees pay (as a percent)	6.00%
Waltham Plan
Employee benefit plans
Fair value of plan assets	$ 2,200
Fair value of plan obligation	2,900
Unfunded status amount	(700)
Waltham Plan | Maximum
Employee benefit plans
Number of participants | item		85
Deferred Compensation Plan
Employee benefit plans
Deferred Compensation Plan Assets	$ 27,200	$ 24,500

STOCK-BASED COMPENSATION - Stoc

STOCK-BASED COMPENSATION - Stock-based compensation expense (Details) - Time Lapse Restricted Shares Issued 2004 [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pre-tax compensation expense	$ 14,865	$ 20,850	$ 14,158
Tax benefit	(3,208)	(3,752)	(3,596)
Restricted stock expense, net of tax	$ 11,657	$ 17,098	$ 10,562

STOCK-BASED COMPENSATION - Unve

STOCK-BASED COMPENSATION - Unvested RSUs (Details) - Time Lapse Restricted Shares Issued 2004 [Member] - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Balance outstanding at the beginning of the period (in shares)	2,870,000	3,465,000	4,086,000
Balance at the beginning of the period (in dollars per share)	$ 20.36	$ 17.23	$ 13.69
Forfeited (in shares)	(191,000)	(59,000)	(147,000)
Forfeited (in dollars per share)	$ 25.34	$ 17.11	$ 16.40
Vested (in shares)	(861,000)	(1,397,000)	(1,201,000)
Vested (in dollars per share)	$ 16.67	$ 15.29	$ 11.59
Granted (in shares)	778,000	861,000	727,000
Granted (in dollars per share)	$ 37.04	$ 24.53	$ 25.60
Balance outstanding at the end of the period (in shares)	2,596,000	2,870,000	3,465,000
Balance at the end of the period (in dollars per share)	$ 26.16	$ 20.36	$ 17.23

STOCK-BASED COMPENSATION - Narr

STOCK-BASED COMPENSATION - Narrative (Details) - Time Lapse Restricted Shares Issued 2004 [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based payment award vesting rights percentage	20.00%
Award vesting period	6 years
Granted (in shares)	778,000	861,000	727,000
Common stock reserved for issuance upon exercise of stock options (in shares)	6,600,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 49.8	$ 40.5
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition	4 years	3 years 9 months 18 days

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance, value	$ 941,360	$ 815,750	$ 711,908
Change during the year:
Other comprehensive earnings/(loss)	(5,514)	10,212	49,969
Ending balance, value	1,082,048	941,360	815,750
Interest Rate Swap
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance, value	(381)	(277)
Change during the year:
Before-tax amount	516	(141)	(277)
Tax benefit	(135)	37
Other comprehensive earnings/(loss)	381	(104)	(277)
Ending balance, value		(381)	(277)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance, value	(322)	(195)	(46,091)
Change during the year:
Before-tax amount		(173)	75,449
Tax benefit		46	(29,553)
Other comprehensive earnings/(loss)		(127)	45,896
Ending balance, value	(322)	(322)	(195)
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance, value	(10,194)	(20,637)	(24,987)
Change during the year:
Before-tax amount	(5,895)	10,443	4,350
Other comprehensive earnings/(loss)	(5,895)	10,443	4,350
Ending balance, value	(16,089)	(10,194)	(20,637)
Accumulated Other Comprehensive Income/(Loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance, value	(10,897)	(21,109)	(71,078)
Change during the year:
Before-tax amount	(5,379)	10,129	79,522
Tax benefit	(135)	83	(29,553)
Other comprehensive earnings/(loss)	(5,514)	10,212	49,969
Ending balance, value	$ (16,411)	$ (10,897)	$ (21,109)

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details)	Dec. 01, 2019USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2014USD ($)
John Wilson IV | Wilson Pest Management [Member]
Related party transactions
Ownership percentage	100.00%
R P C Inc [Member]
Related party transactions
Notice period for termination of service agreement		6 months
Gary W. Rollins | R P C Inc [Member]
Related party transactions
Related party revenue		$ 100,000	$ 100,000	$ 100,000
Gary W. Rollins | L O R Inc [Member]
Related party transactions
Related party transaction purchases amount		500,000
Tax expense on purchases from related party		40,000
Gary W. Rollins | Pilot Sharing Agreement [Member] | L O R Inc [Member]
Related party transactions
Related party revenue		$ 800,000
Percent of use of aircraft by the company		50
Gary W. Rollins | Rent and Administrative Services Agreement [Member] | L O R Inc [Member]
Related party transactions
Related party revenue		$ 600,000	1,000,000	800,000
Certain current and former directors and officers | SEC Investigation Legal Fees
Related party transactions
Related party expense		1,300,000
R Randall Rollins [Member] | P I A L L C [Member]
Related party transactions
Notice period for termination of service agreement					30 days
Monthly rent payment					$ 100
Related party expense		300,000	600,000	900,000
John F. Wilson | Wilson Pest Management [Member]
Related party transactions
Related party revenue		$ 100,000	$ 100,000	$ 800,000
Franchise fee	$ 75,000
Franchise royalty fee (as a percent)	9.00%

CASH DIVIDEND (Details)

CASH DIVIDEND (Details)	Jan. 27, 2022$ / shares
Subsequent Event
Subsequent Event [Line Items]
Dividend declared quarterly (in dollars per share)	$ 0.10

SCHEDULE II-VALUATION AND QUALI

SCHEDULE II-VALUATION AND QUALIFYING ACCOUNTS (Details) - SEC Schedule, 12-09, Allowance, Credit Loss [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount, Beginning Balance	$ 20,085	$ 19,658	$ 16,666
SEC Schedule, 12-09, Valuation Allowances and Reserves, Adoption of ASC 326		(3,330)
SEC Schedule, 12-09, Valuation Allowances and Reserves, Additions, Charge to Cost and Expense	15,285	17,536	15,145
SEC Schedule, 12-09, Valuation Allowances and Reserves, Addition, Recovery	(17,500)	(13,779)	(12,153)
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount, Ending Balance	$ 17,870	$ 20,085	$ 19,658