Rollins (ROL) 10-Q 31 Jul 20 2020 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2020	Jul. 16, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2020
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2020
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
Entity Address, Address Line Two	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
Trading Symbol	ROL
Security Exchange Name	NYSE
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 Common Stock, Shares Outstanding		327,758,819

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
ASSETS
Cash and cash equivalents	$ 134,829	$ 94,276
Trade receivables, net of allowance for doubtful accounts of $16,452 and $16,699, respectively	129,297	122,766
Financed receivables, short-term, net of allowance for doubtful accounts of $1,810 and $1,675, respectively	23,285	22,267
Materials and supplies	34,064	19,476
Other current assets	41,626	51,002
Total current assets	363,101	309,787
Equipment and property, net	191,141	195,533
Goodwill	602,310	572,847
Customer contracts, net	275,782	273,720
Trademarks & tradenames, net	104,760	102,539
Other intangible assets, net	10,176	10,525
Operating lease, right-of-use assets	214,874	200,727
Financed receivables, long-term, net of allowance for doubtful accounts of $1,204 and $1,284 respectively	38,281	30,792
Benefit plan assets	9,312	21,565
Deferred income taxes	2,105	2,180
Other assets	24,540	24,161
Total assets	1,836,382	1,744,376
LIABILITIES
Accounts payable	48,037	35,234
Accrued insurance	31,230	30,441
Accrued compensation and related liabilities	87,050	81,943
Unearned revenues	139,541	122,825
Operating lease liabilities - current	71,494	66,117
Current portion of long-term debt	12,500	12,500
Other current liabilities	88,321	60,975
Total current liabilities	478,173	410,035
Accrued insurance, less current portion	35,520	34,920
Operating lease liabilities, less current portion	144,846	135,651
Long-term debt	242,500	279,000
Deferred income tax liability	14,482	9,927
Long-term accrued liabilities	58,031	59,093
Total liabilities	973,552	928,626
STOCKHOLDERS’ EQUITY
Preferred stock, without par value; 500,000 shares authorized, zero shares issued
Common stock, par value $1 per share; 550,000,000 shares authorized, 327,758,819 and 327,430,846 shares issued and outstanding, respectively	327,759	327,431
Paid in capital	88,640	89,413
Accumulated other comprehensive loss	(29,163)	(21,109)
Retained earnings	475,594	420,015
Total stockholders’ equity	862,830	815,750
Total liabilities and stockholders’ equity	$ 1,836,382	$ 1,744,376

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Accounts Receivable, Allowance for Credit Loss, Current	$ 16,452	$ 16,699
Financing Receivable, Allowance for Credit Loss, Current	1,810	1,675
Accounts Receivable, Allowance for Credit Loss, Noncurrent	$ 1,204	$ 1,284
Preferred Stock, Shares Authorized	500,000	500,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, Par Value	$ 1	$ 1
Common Stock, Shares Authorized	550,000,000	550,000,000
Common Stock, Shares Issued	327,758,819	327,430,846
Common Stock, Shares Outstanding	327,758,819	327,430,846

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
REVENUES
Customer services	$ 553,329	$ 523,957	$ 1,041,230	$ 953,026
COSTS AND EXPENSES
Cost of services provided	255,622	253,333	506,774	470,591
Depreciation and amortization	21,925	20,132	43,522	36,815
Sales, general and administrative	171,253	161,886	329,115	301,416
Gain on sale of assets, net	(451)	(252)	(726)	(433)
Interest expense, net	1,460	1,899	3,625	1,625
INCOME BEFORE INCOME TAXES	103,520	86,959	158,920	143,012
PROVISION FOR INCOME TAXES	28,162	22,664	40,294	34,491
NET INCOME	$ 75,358	$ 64,295	$ 118,626	$ 108,521
NET INCOME PER SHARE - BASIC AND DILUTED	$ 0.23	$ 0.20	$ 0.36	$ 0.33
DIVIDENDS PAID PER SHARE	$ 0.08	$ 0.11	$ 0.20	$ 0.21
Weighted average participating shares outstanding - basic and diluted	327,763,000	327,506,000	327,723,000	327,506,000

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
NET INCOME	$ 75,358	$ 64,295	$ 118,626	$ 108,521
Other comprehensive (loss) / earnings
Foreign currency translation adjustments	9,378	485	(7,490)	2,827
Change in derivatives	170	(257)	(564)	(257)
Other comprehensive (loss) / earnings	9,548	228	(8,054)	2,570
Comprehensive earnings	$ 84,906	$ 64,523	$ 110,572	$ 111,091

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS EQUITY (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Beginning Balance, Shares at Dec. 31, 2018	327,308,000
Beginning Balance at Dec. 31, 2018	$ 327,308	$ 85,386	$ (71,078)	$ 370,292	$ 711,908
Net Income				108,521	108,521
Other comprehensive income, net of tax
Foreign currency translation adjustments			2,827		2,827
Change in derivatives			(257)		(257)
Cash dividends				(68,699)	(68,699)
Stock compensation	$ 437	7,149			7,586
Stock compensation, Shares	437,000
Employee stock buybacks	$ (259)	(9,575)			(9,834)
Employee stock buybacks, Shares	(259,000)
Ending Balance, Shares at Jun. 30, 2019	327,486,000
Ending Balance at Jun. 30, 2019	$ 327,486	82,960	(68,508)	410,326	752,264
Other comprehensive income, net of tax
Impact of adoption of ASC 326				212	212
Beginning Balance, Shares at Mar. 31, 2019	327,530,000
Beginning Balance at Mar. 31, 2019	$ 327,530	79,932	(68,736)	380,398	719,124
Net Income				64,295	64,295
Other comprehensive income, net of tax
Foreign currency translation adjustments			485		485
Change in derivatives			(257)		(257)
Cash dividends				(34,367)	(34,367)
Stock compensation	$ (27)	3,724			3,697
Stock compensation, Shares	(27,000)
Employee stock buybacks	$ (17)	(696)			(713)
Employee stock buybacks, Shares	(17,000)
Ending Balance, Shares at Jun. 30, 2019	327,486,000
Ending Balance at Jun. 30, 2019	$ 327,486	82,960	(68,508)	410,326	752,264
Beginning Balance, Shares at Dec. 31, 2019	327,431,000
Beginning Balance at Dec. 31, 2019	$ 327,431	89,413	(21,109)	420,015	815,750
Net Income				118,626	118,626
Other comprehensive income, net of tax
Foreign currency translation adjustments			(7,490)		(7,490)
Change in derivatives			(564)		(564)
Cash dividends				(65,531)	(65,531)
Stock compensation	$ 549	7,091			7,640
Stock compensation, Shares	549,000
Employee stock buybacks	$ (221)	(7,864)			(8,085)
Employee stock buybacks, Shares	(221,000)
Ending Balance, Shares at Jun. 30, 2020	327,759,000
Ending Balance at Jun. 30, 2020	$ 327,759	88,640	(29,163)	475,594	862,830
Other comprehensive income, net of tax
Impact of adoption of ASC 326				2,484	2,484
Beginning Balance, Shares at Mar. 31, 2020	327,767,000
Beginning Balance at Mar. 31, 2020	$ 327,767	84,865	(38,711)	426,450	800,371
Net Income				75,358	75,358
Other comprehensive income, net of tax
Foreign currency translation adjustments			9,378		9,378
Change in derivatives			170		170
Cash dividends				(26,214)	(26,214)
Stock compensation	$ (6)	3,827			3,821
Stock compensation, Shares	(6,000)
Employee stock buybacks	$ (2)	(52)			(54)
Employee stock buybacks, Shares	(2,000)
Ending Balance, Shares at Jun. 30, 2020	327,759,000
Ending Balance at Jun. 30, 2020	$ 327,759	$ 88,640	$ (29,163)	$ 475,594	$ 862,830

CONSOLIDATED STATEMENTS OF STAT

CONSOLIDATED STATEMENTS OF STATEMENT OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
OPERATING ACTIVITIES
Net income	$ 118,626	$ 108,521
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	43,522	36,815
Provision for deferred income taxes	3,055	4,763
Provision for bad debts	9,769	4,925
Stock-based compensation expense	7,640	7,586
Other, net	(1,078)	(900)
Changes in operating assets and liabilities	53,238	(19,534)
Net cash provided by operating activities	234,772	142,176
INVESTING ACTIVITIES
Cash used for acquisitions of companies, net of cash acquired	(56,030)	(410,067)
Purchases of equipment and property	(12,441)	(13,436)
Proceeds from sales of franchises	285	486
Other	1,820	1,097
Net cash used in investing activities	(66,366)	(421,920)
FINANCING ACTIVITIES
Payment of contingent consideration	(7,862)	(5,233)
Repayment of term loan	(7,000)	(3,125)
Repayment on revolving commitment	(97,500)	(17,000)
Borrowings on term loan		250,000
Borrowings on revolving commitment	68,000	118,000
Cash paid for common stock purchased	(8,085)	(9,834)
Dividends paid	(65,531)	(68,699)
Net cash provided by/(used in) financing activities	(117,978)	264,109
Effect of exchange rate changes on cash	(9,875)	(1,384)
Net increase/(decrease) in cash and cash equivalents	40,553	(17,019)
Cash and cash equivalents at beginning of period	94,276	115,485
Cash and cash equivalents at end of period	134,829	98,466
Supplemental disclosure of cash flow information:
Non-cash additions to operating lease right-of-use assets	$ 52,273	$ 31,242

BASIS OF PREPARATION AND OTHER

BASIS OF PREPARATION AND OTHER	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
BASIS OF PREPARATION AND OTHER	NOTE 1. BASIS OF PREPARATION AND OTHER Basis of Preparation The preparation of interim financial statements requires management to make estimates and assumptions for the amounts reported in the condensed consolidated financial statements. Specifically, the Company makes estimates in its interim condensed consolidated financial statements for the termite accrual, which includes future costs including termiticide life expectancy and government regulations, the insurance accrual, which includes self-insurance and worker’s compensation, inventory adjustments, discounts and volume incentives earned, among others. In March 2020, the World Health Organization declared the outbreak of COVID-19 a global pandemic, which continues to spread throughout the U.S. and the world. This has resulted in authorities implementing numerous measures to contain the virus, including, but not limited to, travel bans and restrictions, quarantines, shelter-in-place orders, and business limitations and shutdowns. The pest control industry was designated as “essential” by the Department of Homeland Security and the Company has been able to remain operational in every part of the world in which it operates. The Company’s consolidated financial statements reflect estimates and assumptions made by management that affect the reported amounts of assets and liabilities and related disclosures as of the date of the condensed consolidated financial statements. The Company considered the impact of COVID-19 on the assumptions and estimates used in preparing the condensed consolidated financial statements. In the opinion of management, all adjustments necessary for a fair presentation of the Company’s financial results for the quarter have been made. These adjustments are of a normal recurring nature, but complicated by the uncertainty surrounding the global economic impact of the COVID-19 pandemic. The results of operations for the six months ended June 30, 2020 are not necessarily indicative of results for the entire year. The severity, magnitude and duration, as well as the economic consequences of the COVID-19 pandemic, 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. The Company has only one reportable segment, its pest and termite control business. The Company’s results of operations and its financial condition are not reliant upon any single customer, a few customers, or the Company’s foreign operations. The Company reclassified certain prior period amounts in the Statement of Cash Flows from Operating Activities to Financing Activities for payment of contingent consideration to conform to the current period presentation.

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	6 Months Ended
	Jun. 30, 2020
Accounting Changes and Error Corrections [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	NOTE 2. RECENT ACCOUNTING PRONOUNCEMENTS Recently adopted accounting standards In June of 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 doubtful accounts, net of tax, as a $2.5 million increase to beginning retained earnings. ROLLINS, INC. AND SUBSIDIARIES 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 turndown the contract. Delinquencies of accounts are monitored each month. Financing receivables include installment receivable amounts 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 and 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 doubtful accounts when the Company determines that amounts are uncollectible, and recoveries of amounts previously written off are recorded when collected. Below is a roll forward of the Company’s allowance for credit losses for the six months ended June 30, 2020. Trade Financed Total Balance at January 1, 2020 $ 16,699 $ 2,959 $ 19,658 Adoption of ASC 326 (3,330 ) — (3,330 ) Adjusted balance at January 1, 2020 13,369 2,959 16,328 Provision for expected credit losses 8,480 1,288 9,768 Write-offs charged against the allowance (8,233 ) (1,233 ) (9,466 ) Recoveries collected 2,729 — 2,729 Currency Conversion 107 — 107 Balance at June 30, 2020 $ 16,452 $ 3,014 $ 19,466 In January 2017, the FASB issued ASU No. 2017-04, Intangibles-Goodwill and Other (ASC 350): Simplifying the Test for Goodwill Impairment, which eliminated the requirement to calculate the implied fair value of goodwill (i.e., Step 2 of the current goodwill impairment test) to measure a goodwill impairment charge. Instead, entities would record an impairment charge based on the excess of a reporting unit’s carrying amount over its fair value (i.e., measure the charge based on the current Step 1). The Company adopted ASU 2017-04 effective January 1, 2020. The Company does not expect the adoption of this standard to have a material impact on its future consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (ASC 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement. The updated accounting guidance modified the disclosure requirements on fair value measurements by removing certain disclosure requirements related to the fair value hierarchy, modifying existing disclosure requirements related to measurement uncertainty and adding new disclosure requirements. The Company adopted ASU 2018-13 effective January 1, 2020 and the adoption did not materially impact its financial statement disclosures. ROLLINS, INC. AND SUBSIDIARIES Recently issued accounting standards to be adopted in 2021 or later 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 is not expected to have a material impact on the Company’s consolidated financial statements.

REVENUE

REVENUE	6 Months Ended
	Jun. 30, 2020
Revenue from Contract with Customer [Abstract]
REVENUE	NOTE 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 more than 10% 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: (In thousands) Three Months Ended Six Months Ended 2020 2019 2020 2019 United States $ 517,576 $ 485,170 $ 969,922 $ 879,170 Other countries 35,753 38,787 71,308 73,856 Total Revenues $ 553,329 $ 523,957 $ 1,041,230 $ 953,026 Revenue from external customers, classified by significant product and service offerings, was as follows: (In thousands) Three Months Ended Six Months Ended 2020 2019 2020 2019 Residential revenue $ 257,921 $ 224,682 $ 462,578 $ 397,190 Commercial revenue 179,900 191,456 363,215 361,127 Termite completions, bait monitoring, & renewals 109,817 102,352 204,044 182,601 Franchise revenues 3,521 3,442 6,938 6,703 Other revenues 2,170 2,025 4,455 5,405 Total Revenues $ 553,329 $ 523,957 $ 1,041,230 $ 953,026

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
EARNINGS PER SHARE	NOTE 4. EARNINGS PER SHARE The Company follows ASC 260, Earnings Per Share Basic and diluted earnings per share attributable to common and restricted shares of common stock for the period Three Months Ended Six Months Ended 2020 2019 2020 2019 Basic and diluted earnings per share Common stock $ 0.23 $ 0.20 $ 0.36 $ 0.33 Restricted shares of common stock $ 0.22 $ 0.18 $ 0.35 $ 0.30

CONTINGENCIES

CONTINGENCIES	6 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	NOTE 5. CONTINGENCIES In the normal course of business, certain of the Company’s subsidiaries are defendants in a number of lawsuits, claims or arbitrations which allege that the subsidiaries’ services caused damage. In addition, the Company defends employment-related cases and claims from time to time. We are involved in certain environmental matters primarily arising in the normal course of business. We are actively contesting each of these matters. Management does not believe that any pending claim, proceeding or litigation, 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, however unlikely, could result in a charge that might be material to the results of an individual quarter or year.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	NOTE 6. FAIR VALUE OF FINANCIAL INSTRUMENTS The Company’s financial instruments consist of cash and cash equivalents, trade receivables, notes receivable, accounts payable and other short-term liabilities. The carrying amounts of these financial instruments approximate their respective fair values. At June 30, 2020 and 2019, the Company had $47.1 million and $54.7 million of acquisition holdback and earnout liabilities with the former owners of acquired companies. The earnout liabilities were discounted to reflect the expected probability of payout, and both earnout and holdback liabilities were 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. Three Months Ended Six Months Ended (in thousands) 2020 2019 2020 2019 Beginning $ 51,328 $ 28,999 $ 49,131 $ 30,926 New acquisitions and revaluations 1,054 27,893 5,543 29,450 Payouts (5,822 ) (2,426 ) (7,862 ) (5,233 ) Interest on outstanding contingencies 565 510 1,148 722 Charge offset, forfeit and other (40 ) (291 ) (875 ) (1,180 ) Ending Balance $ 47,085 $ 54,685 $ 47,085 $ 54,685

UNEARNED REVENUE

UNEARNED REVENUE	6 Months Ended
	Jun. 30, 2020
Unearned Revenue
UNEARNED REVENUE	NOTE 7. UNEARNED REVENUE The Company records unearned revenue when we have either received payment or contractually have the right to bill for services in advance of the services or performance obligations being performed. Deferred revenue recognized in the three and six months ended June 30, 2020 and 2019 were $ 43.2 40.5 For the period ended June 30, December 31, June 30, (in thousands) 2020 2019 2019 Balance at beginning of year $ 136,507 $ 127,075 $ 127,075 Deferral of unearned revenue 105,928 174,404 100,188 Recognition of unearned revenue (85,936 ) (164,972 ) (80,496 ) Balance at end of period $ 156,499 $ 136,507 $ 146,767 The Company had no material contracted, but not recognized, revenue as of June 30, 2020 or December 31, 2019. At June 30, 2020 and December 31, 2019, the Company had long-term unearned revenue of $ 17.0 13.7 five years

LEASES

LEASES	6 Months Ended
	Jun. 30, 2020
Leases
LEASES	NOTE 8. 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 842 not to include short-term leases with a duration of 12 months or less on the balance sheet. As of June 30, 2020 and December 31, 2019, 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 5 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. 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. ROLLINS, INC. AND SUBSIDIARIES (in thousands) Lease Classification Financial Statement Classification Six Months Ended Short-term lease cost Cost of services provided, Sales, general, and administrative expenses $ 133 Operating lease cost Cost of services provided, Sales, general, and administrative expenses 42,024 Total lease expense $ 42,157 Other Information Weighted-average remaining lease term – operating leases 3.78 Weighted-average discount rate – operating leases 3.93 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 41,599 Lease Commitments Future minimum lease payments, including assumed exercise of renewal options (in thousands) Operating 2020 (excluding the six months ended June 30, 2020) $ 40,717 2021 71,763 2022 53,682 2023 33,800 2024 14,063 2025 7,913 Thereafter 11,987 Total Future Minimum Lease Payments $ 233,925 Less: Amount representing interest $ 17,585 Total future minimum lease payments, net of interest $ 216,340 Total future minimum lease payments for operating leases, including the amount representing interest, are comprised of $ 95.0 138.9

DEBT

DEBT	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
DEBT	NOTE 9. DEBT The Company entered into a Credit Agreement with SunTrust Bank, now known as Truist Bank and Bank of America, N.A. for an unsecured Revolving Commitment of up to $ 175.0 75.0 25.0 250.0 72.0 183.0 101.5 190.0 The Credit Agreement includes a debt covenant that requires the Company’s leverage ratio to be no greater than 3.00:1.00. The Leverage Ratio is calculated as of the last day of the fiscal quarter most recently ended

STOCKHOLDERS_ EQUITY

STOCKHOLDERS’ EQUITY	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
STOCKHOLDERS’ EQUITY	NOTE 10. STOCKHOLDERS’ EQUITY During the six months ended June 30, 2020, the Company paid $65.5 million, or $ 0.20 0.21 During the second quarter ended June 30, 2020 and during the same period in 2019 the Company did not repurchase shares on the open market. The Company repurchases shares from employees for the payment of their taxes on restricted shares that have vested. The Company repurchased $ 0.1 0.7 8.1 9.8 As more fully discussed in Note 17 of the Company’s notes to the consolidated financial statements in its 2019 Annual Report on Form 10-K, time-lapse restricted shares and restricted stock units have been issued to officers and other management employees under the Company’s Employee Stock Incentive Plans. The Company issues new shares from its authorized but unissued share pool. At June 30, 2020, approximately 4.9 million shares of the Company’s common stock were reserved for issuance. Time Lapse Restricted Shares and Restricted Stock Units The following table summarizes the components of the Company’s stock-based compensation programs recorded as expense Three Months Ended Six Months Ended (in thousands) 2020 2019 2020 2019 Time lapse restricted stock: Pre-tax compensation expense $ 3,821 $ 3,697 $ 7,640 $ 7,586 Tax benefit (1,100 ) (963 ) (1,937 ) (1,784 ) Restricted stock expense, net of tax $ 2,721 $ 2,734 $ 5,703 $ 5,802 ROLLINS, INC. AND SUBSIDIARIES The following table summarizes information on unvested restricted stock outstanding Number of Average Grant- Unvested Restricted Stock at December 31, 2019 2,310 $ 25.84 Forfeited (24 ) 24.22 Vested (627 ) 19.46 Granted 573 36.73 Unvested Restricted Stock at June 30, 2020 2,232 $ 30.44 At June 30, 2020 and December 31, 2019, the Company had $ 54.1 41.3 4.2 4.0

PENSION AND POST RETIREMENT BEN

PENSION AND POST RETIREMENT BENEFIT PLAN	6 Months Ended
	Jun. 30, 2020
Retirement Benefits [Abstract]
PENSION AND POST RETIREMENT BENEFIT PLAN	NOTE 11. PENSION AND POST RETIREMENT BENEFIT PLAN In September 2019, the Company settled its fully-funded pension plan. At December 31, 2019, $21.6 million of pension assets remained available to fund other employee benefits. The Company used $6.3 million and $12.3 million to fund its 401(k)-match obligation during the quarter and sixth months ended June 30, 2020, respectively. The Company plans to continue funding future benefit plan obligations, with a possible reversion of any remaining pension assets to the Company per ERISA regulations. As of June 30, 2020, the Company had approximately $ 9.3 Components of Net Pension Benefit Loss / (Gain) Three Months Ended June 30, Six Month Ended June 30, (in thousands) 2020 2019 2020 2019 Interest and service cost $ 28 $ 1,762 $ 53 $ 3,524 Expected return on plan assets (24 ) (2,640 ) (59 ) (5,280 ) Amortization of net loss 25 878 50 1,756 Net periodic loss $ 29 $ — $ 44 $ — During the six months ended June 30, 2020, and the same period in 2019, the Company made no contributions to its defined benefit retirement plans (the “Plans”). The Company made no contributions for the year ended December 31, 2019.

BUSINESS COMBINATIONS

BUSINESS COMBINATIONS	6 Months Ended
	Jun. 30, 2020
Business Combinations [Abstract]
BUSINESS COMBINATIONS	NOTE 12. BUSINESS COMBINATIONS The Company made 13 30 June 30, 2020 Accounts receivable, net $ 1,835 Materials & supplies 192 Equipment and property 3,446 Goodwill 29,080 Customer contracts 27,968 Other intangible assets 3,094 Other assets and liabilities, net 4,003 Current liabilities (7,906 ) Total purchase price $ 61,712 Less: Contingent consideration liability (5,682 ) Total cash purchase price $ 56,030 Goodwill from acquisitions represents the excess of the purchase price over the fair value of net assets of businesses acquired. For the period ended June 30, 2020, $29.1 million of goodwill was added related to the 13 acquisitions noted above. The cumulative carrying amount of goodwill was $602.3 million and $572.8 million at June 30, 2020 and December 31, 2019, respectively. Goodwill generally changes due to the timing of acquisitions, finalization of allocation of purchase prices of previous acquisitions and foreign currency translations. The carrying amount of goodwill in foreign countries was $ 57.5 55.8 The Company completed its most recent annual impairment analysis as of September 30, 2019. Based upon the results of this analysis, the Company has concluded that no impairment of its goodwill or other intangible assets was indicated. The carrying amount of customer contracts was $ 275.8 273.7 104.8 102.5 10.2 10.5 33.5 3.1 3.4 1.0 1.2 Customer contracts and other amortizable intangible assets are amortized on a straight-line basis over their economic useful lives. The following table sets forth the components of intangible assets Intangible Asset Carrying Value Useful Life Customer contracts $ 275,782 3 12 Trademarks and tradenames 104,760 N/A - 20 Non-compete agreements 4,337 3 20 Patents 1,458 3 15 Other assets 2,154 10 Internet domains 2,227 N/A Total customer contracts and other intangible assets $ 390,718

DERIVATIVE INSTRUMENTS AND HEDG

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	6 Months Ended
	Jun. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	NOTE 13. 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 Revolving Commitment and the Term Loan (“Credit Facility”). The Company does not use such instruments 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 us 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 ends on December 31, 2021. As of December 31, 2019, $0.3 million had been recorded as an Accumulated Loss in Other Comprehensive Income (“AOCI”). An additional loss of $0.6 million was recorded in AOCI in the six months ended June 30, 2020. Realized gains and losses in connection with each required interest payment are reclassified from AOCI to interest expense during the period of the cash flows. During the quarter and six months ended June 30, 2020, the Company reclassified into interest expense $0.2 million and $0.3 million, respectively. The fair value of the Company’s interest rate swaps was recorded as $0.7 million in Other Current Liabilities and $0.1 million in Long-Term Liabilities for a combined obligation of $0.8 million at June 30, 2020. The fair value of the Company’s interest rate swaps was recorded as $0.2 million in Other Current Liabilities and $0.1 million in Long-Term Liabilities for a combined obligation of $0.3 million at December 31, 2019. On a quarterly basis, management evaluates any swap agreement to determine its effectiveness or ineffectiveness and records the change in fair value as an adjustment to AOCI. Management intends that the swap remains effective. ROLLINS, INC. AND SUBSIDIARIES 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 vanilla 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 were recorded in other income/expense and were equal to a net loss of $0.3 million and $0.1 million for the quarter ended June 30, 2020 and 2019, respectively, and a net gain of $0.8 million and a net loss of $0.2 million for the six months ended June 30, 2020 and 2019, respectively. The fair value of the Company’s FX Forwards was recorded as $0.1 million in Other Current Assets at June 30, 2020 and was a net obligation of $0.2 million in Other Current Liabilities at December 31, 2019. As of June 30, 2020, the Company had the following outstanding FX Forwards Non-Designated Derivative Summary FX Forward Contracts Number of Sell Buy Sell AUD/Buy USD Fwd Contract 5 $ 1,000 $ 690 Sell CAD/Buy USD Fwd Contract 7 $ 8,500 6,343 Total 12 $ 7,033 The financial statement impact related to these derivative instruments was insignificant for the 6 months ended June 30, 2020 and year ended December 31, 2019.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 14. SUBSEQUENT EVENTS On July 28, 2020, the Company announced that the Board of Directors declared a regular quarterly cash dividend on its common stock of $ 0.08

BASIS OF PREPARATION AND OTHER

BASIS OF PREPARATION AND OTHER (Policies)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Basis of Preparation	Basis of Preparation The preparation of interim financial statements requires management to make estimates and assumptions for the amounts reported in the condensed consolidated financial statements. Specifically, the Company makes estimates in its interim condensed consolidated financial statements for the termite accrual, which includes future costs including termiticide life expectancy and government regulations, the insurance accrual, which includes self-insurance and worker’s compensation, inventory adjustments, discounts and volume incentives earned, among others. In March 2020, the World Health Organization declared the outbreak of COVID-19 a global pandemic, which continues to spread throughout the U.S. and the world. This has resulted in authorities implementing numerous measures to contain the virus, including, but not limited to, travel bans and restrictions, quarantines, shelter-in-place orders, and business limitations and shutdowns. The pest control industry was designated as “essential” by the Department of Homeland Security and the Company has been able to remain operational in every part of the world in which it operates. The Company’s consolidated financial statements reflect estimates and assumptions made by management that affect the reported amounts of assets and liabilities and related disclosures as of the date of the condensed consolidated financial statements. The Company considered the impact of COVID-19 on the assumptions and estimates used in preparing the condensed consolidated financial statements. In the opinion of management, all adjustments necessary for a fair presentation of the Company’s financial results for the quarter have been made. These adjustments are of a normal recurring nature, but complicated by the uncertainty surrounding the global economic impact of the COVID-19 pandemic. The results of operations for the six months ended June 30, 2020 are not necessarily indicative of results for the entire year. The severity, magnitude and duration, as well as the economic consequences of the COVID-19 pandemic, 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. The Company has only one reportable segment, its pest and termite control business. The Company’s results of operations and its financial condition are not reliant upon any single customer, a few customers, or the Company’s foreign operations. The Company reclassified certain prior period amounts in the Statement of Cash Flows from Operating Activities to Financing Activities for payment of contingent consideration to conform to the current period presentation.

RECENT ACCOUNTING PRONOUNCEME_2

RECENT ACCOUNTING PRONOUNCEMENTS (Tables)	6 Months Ended
	Jun. 30, 2020
Accounting Changes and Error Corrections [Abstract]
Financing Receivable, Current, Allowance for Credit Loss [Table Text Block]
RECENT ACCOUNTING PRONOUNCEMENTS	Trade Financed Total Balance at January 1, 2020 $ 16,699 $ 2,959 $ 19,658 Adoption of ASC 326 (3,330 ) — (3,330 ) Adjusted balance at January 1, 2020 13,369 2,959 16,328 Provision for expected credit losses 8,480 1,288 9,768 Write-offs charged against the allowance (8,233 ) (1,233 ) (9,466 ) Recoveries collected 2,729 — 2,729 Currency Conversion 107 — 107 Balance at June 30, 2020 $ 16,452 $ 3,014 $ 19,466

REVENUE (Tables)

REVENUE (Tables)	6 Months Ended
	Jun. 30, 2020
Revenue from Contract with Customer [Abstract]
Revenue, classified by the major geographic areas in which our customers are located, was as follows:	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 more than 10% 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:
REVENUE	(In thousands) Three Months Ended Six Months Ended 2020 2019 2020 2019 United States $ 517,576 $ 485,170 $ 969,922 $ 879,170 Other countries 35,753 38,787 71,308 73,856 Total Revenues $ 553,329 $ 523,957 $ 1,041,230 $ 953,026
REVENUE (Details 2)	(In thousands) Three Months Ended Six Months Ended 2020 2019 2020 2019 Residential revenue $ 257,921 $ 224,682 $ 462,578 $ 397,190 Commercial revenue 179,900 191,456 363,215 361,127 Termite completions, bait monitoring, & renewals 109,817 102,352 204,044 182,601 Franchise revenues 3,521 3,442 6,938 6,703 Other revenues 2,170 2,025 4,455 5,405 Total Revenues $ 553,329 $ 523,957 $ 1,041,230 $ 953,026

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Basic and diluted earnings per share attributable to common and restricted shares of common stock for the period	Basic and diluted earnings per share attributable to common and restricted shares of common stock for the period
EARNINGS PER SHARE	Three Months Ended Six Months Ended 2020 2019 2020 2019 Basic and diluted earnings per share Common stock $ 0.23 $ 0.20 $ 0.36 $ 0.33 Restricted shares of common stock $ 0.22 $ 0.18 $ 0.35 $ 0.30

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]
FAIR VALUE OF FINANCIAL INSTRUMENTS	Three Months Ended Six Months Ended (in thousands) 2020 2019 2020 2019 Beginning $ 51,328 $ 28,999 $ 49,131 $ 30,926 New acquisitions and revaluations 1,054 27,893 5,543 29,450 Payouts (5,822 ) (2,426 ) (7,862 ) (5,233 ) Interest on outstanding contingencies 565 510 1,148 722 Charge offset, forfeit and other (40 ) (291 ) (875 ) (1,180 ) Ending Balance $ 47,085 $ 54,685 $ 47,085 $ 54,685

UNEARNED REVENUE (Tables)

UNEARNED REVENUE (Tables)	6 Months Ended
	Jun. 30, 2020
Unearned Revenue
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]
UNEARNED REVENUE	For the period ended June 30, December 31, June 30, (in thousands) 2020 2019 2019 Balance at beginning of year $ 136,507 $ 127,075 $ 127,075 Deferral of unearned revenue 105,928 174,404 100,188 Recognition of unearned revenue (85,936 ) (164,972 ) (80,496 ) Balance at end of period $ 156,499 $ 136,507 $ 146,767

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Jun. 30, 2020
Leases
Schedule of Leave Classification [Table Text Block]
LEASES	(in thousands) Lease Classification Financial Statement Classification Six Months Ended Short-term lease cost Cost of services provided, Sales, general, and administrative expenses $ 133 Operating lease cost Cost of services provided, Sales, general, and administrative expenses 42,024 Total lease expense $ 42,157 Other Information Weighted-average remaining lease term – operating leases 3.78 Weighted-average discount rate – operating leases 3.93 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 41,599
Future minimum lease payments, including assumed exercise of renewal options	Future minimum lease payments, including assumed exercise of renewal options
LEASES (Details 2)	(in thousands) Operating 2020 (excluding the six months ended June 30, 2020) $ 40,717 2021 71,763 2022 53,682 2023 33,800 2024 14,063 2025 7,913 Thereafter 11,987 Total Future Minimum Lease Payments $ 233,925 Less: Amount representing interest $ 17,585 Total future minimum lease payments, net of interest $ 216,340

STOCKHOLDERS_ EQUITY (Tables)

STOCKHOLDERS’ EQUITY (Tables)	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
The following table summarizes the components of the Company’s stock-based compensation programs recorded as expense	The following table summarizes the components of the Company’s stock-based compensation programs recorded as expense
STOCKHOLDERS' EQUITY	Three Months Ended Six Months Ended (in thousands) 2020 2019 2020 2019 Time lapse restricted stock: Pre-tax compensation expense $ 3,821 $ 3,697 $ 7,640 $ 7,586 Tax benefit (1,100 ) (963 ) (1,937 ) (1,784 ) Restricted stock expense, net of tax $ 2,721 $ 2,734 $ 5,703 $ 5,802
The following table summarizes information on unvested restricted stock outstanding	The following table summarizes information on unvested restricted stock outstanding
STOCKHOLDERS' EQUITY (Details 2)	Number of Average Grant- Unvested Restricted Stock at December 31, 2019 2,310 $ 25.84 Forfeited (24 ) 24.22 Vested (627 ) 19.46 Granted 573 36.73 Unvested Restricted Stock at June 30, 2020 2,232 $ 30.44

PENSION AND POST RETIREMENT B_2

PENSION AND POST RETIREMENT BENEFIT PLAN (Tables)	6 Months Ended
	Jun. 30, 2020
Retirement Benefits [Abstract]
Components of Net Pension Benefit Loss / (Gain)	Components of Net Pension Benefit Loss / (Gain)
PENSION AND POST RETIREMENT BENEFIT PLAN	Three Months Ended June 30, Six Month Ended June 30, (in thousands) 2020 2019 2020 2019 Interest and service cost $ 28 $ 1,762 $ 53 $ 3,524 Expected return on plan assets (24 ) (2,640 ) (59 ) (5,280 ) Amortization of net loss 25 878 50 1,756 Net periodic loss $ 29 $ — $ 44 $ —

BUSINESS COMBINATIONS (Tables)

BUSINESS COMBINATIONS (Tables)	6 Months Ended
	Jun. 30, 2020
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]
BUSINESS COMBINATIONS	June 30, 2020 Accounts receivable, net $ 1,835 Materials & supplies 192 Equipment and property 3,446 Goodwill 29,080 Customer contracts 27,968 Other intangible assets 3,094 Other assets and liabilities, net 4,003 Current liabilities (7,906 ) Total purchase price $ 61,712 Less: Contingent consideration liability (5,682 ) Total cash purchase price $ 56,030
components of intangible assets	Customer contracts and other amortizable intangible assets are amortized on a straight-line basis over their economic useful lives. The following table sets forth the components of intangible assets
BUSINESS COMBINATIONS (Details 2)	Intangible Asset Carrying Value Useful Life Customer contracts $ 275,782 3 12 Trademarks and tradenames 104,760 N/A - 20 Non-compete agreements 4,337 3 20 Patents 1,458 3 15 Other assets 2,154 10 Internet domains 2,227 N/A Total customer contracts and other intangible assets $ 390,718

DERIVATIVE INSTRUMENTS AND HE_2

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	6 Months Ended
	Jun. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Company had the following outstanding FX Forwards	As of June 30, 2020, the Company had the following outstanding FX Forwards
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	Non-Designated Derivative Summary FX Forward Contracts Number of Sell Buy Sell AUD/Buy USD Fwd Contract 5 $ 1,000 $ 690 Sell CAD/Buy USD Fwd Contract 7 $ 8,500 6,343 Total 12 $ 7,033

RECENT ACCOUNTING PRONOUNCEME_3

RECENT ACCOUNTING PRONOUNCEMENTS (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Balance at January 1, 2020	$ 19,658
Adoption of ASC 326		$ (3,330)
Adjusted balance		16,328
Provision for expected credit losses	9,768
Write-offs charged against the allowance	(9,466)
Recoveries collected	2,729
Currency Conversion	107
Balance at June 30, 2020	19,466
Trade Accounts Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Balance at January 1, 2020	16,699
Adoption of ASC 326		(3,330)
Adjusted balance		13,369
Provision for expected credit losses	8,480
Write-offs charged against the allowance	(8,233)
Recoveries collected	2,729
Currency Conversion	107
Balance at June 30, 2020	16,452
Financing Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Balance at January 1, 2020	2,959
Adjusted balance		$ 2,959
Provision for expected credit losses	1,288
Write-offs charged against the allowance	(1,233)
Recoveries collected
Currency Conversion
Balance at June 30, 2020	$ 3,014

REVENUE (Details)

REVENUE (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 553,329	$ 523,957	$ 1,041,230	$ 953,026
UNITED STATES
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	517,576	485,170	969,922	879,170
Non-US [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 35,753	$ 38,787	$ 71,308	$ 73,856

REVENUE (Details 2)

REVENUE (Details 2) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 553,329	$ 523,957	$ 1,041,230	$ 953,026
Residential Contract Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	257,921	224,682	462,578	397,190
Commercial Contract Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	179,900	191,456	363,215	361,127
Termite completions, bait monitoring, & renewals [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	109,817	102,352	204,044	182,601
Franchise Revenues [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	3,521	3,442	6,938	6,703
Other Revenues [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 2,170	$ 2,025	$ 4,455	$ 5,405

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Earnings Per Share, Basic and Diluted	$ 0.23	$ 0.20	$ 0.36	$ 0.33
Common Stock [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Earnings Per Share, Basic and Diluted	0.23	0.20	0.36	0.33
Restricted Stock [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Earnings Per Share, Basic and Diluted	$ 0.22	$ 0.18	$ 0.35	$ 0.30

FAIR VALUE OF FINANCIAL INSTR_3

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Payouts			$ (7,862)	$ (5,233)
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning	$ 51,328	$ 28,999	49,131	30,926
New acquisitions and revaluations	1,054	27,893	5,543	29,450
Payouts	(5,822)	(2,426)	(7,862)	(5,233)
Interest on outstanding contingencies	565	510	1,148	722
Charge offset, forfeit and other	(40)	(291)	(875)	(1,180)
Ending Balance	$ 47,085	$ 54,685	$ 47,085	$ 54,685

UNEARNED REVENUE (Details)

UNEARNED REVENUE (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Unearned Revenue
Balance at beginning of year			$ 136,507	$ 127,075	$ 127,075
Deferral of unearned revenue			105,928	100,188	174,404
Recognition of unearned revenue	$ 43,200	$ 40,500	(85,936)	(80,496)	(164,972)
Balance at end of period	$ 156,499	$ 146,767	$ 156,499	$ 146,767	$ 136,507

UNEARNED REVENUE (Details Narra

UNEARNED REVENUE (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Unearned Revenue
Deferred Revenue Recognized	$ 43,200	$ 40,500	$ (85,936)	$ (80,496)	$ (164,972)
Contract with Customer, Liability, Noncurrent	$ 17,000		$ 17,000		$ 13,700
Contract With Customer, Liability, Recognition Period			5 years

LEASES (Details)

LEASES (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)
Leases
Short-term lease cost	$ 133
Operating lease cost	42,024
Total lease expense	$ 42,157
Weighted-average remaining lease term - operating leases	3 years 9 months 10 days
Weighted-average discount rate - operating leases	3.93%
Operating cash flows for operating leases	$ 41,599

LEASES (Details 2)

LEASES (Details 2) $ in Thousands	Jun. 30, 2020USD ($)
Leases
2020 (excluding the six months ended June 30, 2020)	$ 40,717
2021	71,763
2022	53,682
2023	33,800
2024	14,063
2025	7,913
Thereafter	11,987
Total Future Minimum Lease Payments	233,925
Less: Amount representing interest	17,585
Total future minimum lease payments, net of interest	$ 216,340

LEASES (Details Narrative)

LEASES (Details Narrative) $ in Thousands	Jun. 30, 2020USD ($)
Lessor, Lease, Description [Line Items]
Capital Leases, Future Minimum Payments Due	$ 233,925
Building [Member]
Lessor, Lease, Description [Line Items]
Capital Leases, Future Minimum Payments Due	95,000
Vehicles [Member]
Lessor, Lease, Description [Line Items]
Capital Leases, Future Minimum Payments Due	$ 138,900

DEBT (Details Narrative)

DEBT (Details Narrative) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Line of Credit Facility [Line Items]
Debt Instrument, Restrictive Covenants	The Credit Agreement includes a debt covenant that requires the Company’s leverage ratio to be no greater than 3.00:1.00. The Leverage Ratio is calculated as of the last day of the fiscal quarter most recently ended
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Long-term Line of Credit	$ 72,000	$ 101,500
Revolving Credit Facility [Member] | Line of Credit [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	175,000
Revolving Credit Facility [Member] | Letter of Credit [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	75,000
Revolving Credit Facility [Member] | Swingline Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		25,000
SunTrust Bank and Bank of America, [Member]
Line of Credit Facility [Line Items]
Long-term Line of Credit		250,000
Term Loan [Member]
Line of Credit Facility [Line Items]
Long-term Line of Credit	$ 183,000	$ 190,000

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Time lapse restricted stock:
Pre-tax compensation expense	$ 3,821	$ 3,697	$ 7,640	$ 7,586
Tax benefit	(1,100)	(963)	(1,937)	(1,784)
Restricted stock expense, net of tax	$ 2,721	$ 2,734	$ 5,703	$ 5,802

STOCKHOLDERS' EQUITY (Details 2

STOCKHOLDERS' EQUITY (Details 2)	6 Months Ended
	Jun. 30, 2020$ / sharesshares
Equity [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Beginning Balance | shares	2,310
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value, Beginning Balance | $ / shares	$ 25.84
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | shares	(24)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | $ / shares	$ 24.22
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | shares	(627)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | $ / shares	$ 19.46
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares	573
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares	$ 36.73
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance | shares	2,232
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value, Ending Balance | $ / shares	$ 30.44

STOCKHOLDERS_ EQUITY (Details N

STOCKHOLDERS’ EQUITY (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Equity [Abstract]
Common Stock, Dividends, Per Share, Cash Paid	$ 0.08	$ 0.11	$ 0.20	$ 0.21
Shares Repurchased	$ 100	$ 700	$ 8,100	$ 9,800
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 54,100		$ 54,100		$ 41,300
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition			4 years 2 months 12 days		4 years

PENSION AND POST RETIREMENT B_3

PENSION AND POST RETIREMENT BENEFIT PLAN (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Retirement Benefits [Abstract]
Interest and service cost	$ 28	$ 1,762	$ 53	$ 3,524
Expected return on plan assets	(24)	(2,640)	(59)	(5,280)
Amortization of net loss	25	878	50	1,756
Net periodic loss	$ 29		$ 44

PENSION AND POST RETIREMENT B_4

PENSION AND POST RETIREMENT BENEFIT PLAN (Details Narrative) $ in Thousands	Jun. 30, 2020USD ($)
Retirement Benefits [Abstract]
Remaining Benefit Pension Assets	$ 9,300

BUSINESS COMBINATIONS (Details)

BUSINESS COMBINATIONS (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Materials & supplies	$ 34,064	$ 19,476
Goodwill	602,310	$ 572,847
Acquisitions [Member]
Business Acquisition [Line Items]
Accounts receivable, net	1,835
Materials & supplies	192
Equipment and property	3,446
Goodwill	29,080
Customer contracts	27,968
Other intangible assets	3,094
Other assets and liabilities, net	4,003
Current liabilities	(7,906)
Total purchase price	61,712
Less: Contingent consideration liability	(5,682)
Total cash purchase price	$ 56,030

BUSINESS COMBINATIONS (Details

BUSINESS COMBINATIONS (Details 2) $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	$ 390,718
Customer Contracts [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	$ 275,782
Customer Contracts [Member] | Minimum [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	3 years
Customer Contracts [Member] | Maximum [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	12 years
Trademarks and Trade Names [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	$ 104,760
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	20 years
Noncompete Agreements [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	$ 4,337
Noncompete Agreements [Member] | Minimum [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	3 years
Noncompete Agreements [Member] | Maximum [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	20 years
Patents [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	$ 1,458
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	3 years
Patents [Member] | Maximum [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	15 years
Other Intangible Assets [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	$ 2,154
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	10 years
Internet Domain Names [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	$ 2,227

BUSINESS COMBINATIONS (Detail_2

BUSINESS COMBINATIONS (Details Narrative) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020USD ($)Number	Dec. 31, 2019USD ($)Number
Acquired Finite-Lived Intangible Assets [Line Items]
Number of Businesses Acquired | Number	13	30
Goodwill, Carrying Amount in Foreign Countries	$ 57,500	$ 55,800
Customer Contracts [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Net (Excluding Goodwill)	275,800	273,700
Customer Contracts [Member] | Non-US [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Net (Excluding Goodwill)	33,500	33,500
Trademarks and Trade Names [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Net (Excluding Goodwill)	104,800	102,500
Trademarks and Trade Names [Member] | Non-US [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Net (Excluding Goodwill)	3,100	3,400
Other Intangible Assets [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Net (Excluding Goodwill)	10,200	10,500
Other Intangible Assets [Member] | Non-US [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Net (Excluding Goodwill)	$ 1,000	$ 1,200

DERIVATIVE INSTRUMENTS AND HE_3

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Details) $ in Thousands	Dec. 31, 2019USD ($)Franchise
Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Number of Instruments Held | Franchise	12
Buy Notional	$ 7,033
Sell AUD/Buy USD Fwd Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Number of Instruments Held | Franchise	5
Sell Notional	$ 1,000
Buy Notional	$ 690
Sell CAD/Buy USD Fwd Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Number of Instruments Held | Franchise	7
Sell Notional	$ 8,500
Buy Notional	$ 6,343

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative)	Jul. 28, 2020$ / shares
Subsequent Event [Member]
Subsequent Event [Line Items]
Common Stock, Dividends, Per Share, Declared	$ 0.08