Stericycle (SRCL) 10-Q 29 Apr 21 2021 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2021	Apr. 26, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Document Transition Report	false
Entity File Number	1-37556
Entity Registrant Name	Stericycle, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-3640402
Entity Address, Address Line One	2355 Waukegan Road
Entity Address, City or Town	Bannockburn
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60015
City Area Code	847
Local Phone Number	367-5910
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	SRCL
Security Exchange Name	NASDAQ
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		91,760,677
Entity Central Index Key	0000861878
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Statement [Abstract]
Revenues	$ 668	$ 785
Cost of revenues	406.6	498.4
Gross profit	261.4	286.6
Selling, general and administrative expenses	202.3	258.7
Divestiture losses (gains), net	0	58.3
Income (loss) from operations	59.1	(30.4)
Interest expense, net	(18.4)	(25)
Other expense, net	(0.7)	(2.9)
Income (loss) before income taxes	40	(58.3)
Income tax (expense) benefit	(13.8)	38.4
Net income (loss)	26.2	(19.9)
Net income attributable to noncontrolling interests	(0.1)	(0.2)
Net income (loss) attributable to Stericycle, Inc. common shareholders	$ 26.1	$ (20.1)
Earnings (loss) per common share attributable to Stericycle, Inc. common shareholders:
Basic (in dollars per share)	$ 0.29	$ (0.22)
Diluted (in dollars per share)	$ 0.28	$ (0.22)
Weighted average number of common shares outstanding:
Basic (in shares)	91.6	91.3
Diluted (in shares)	92	91.3

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 26.2	$ (19.9)
Other comprehensive income (loss):
Currency translation adjustments	(13.1)	(39.1)
Total other comprehensive income (loss)	(13.1)	(39.1)
Comprehensive income (loss)	13.1	(59)
Less: comprehensive (loss) income attributable to noncontrolling interests	(0.1)	0.2
Comprehensive income (loss) attributable to Stericycle, Inc. common shareholders	$ 13.2	$ (59.2)

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Current Assets:
Cash and cash equivalents	$ 50	$ 53.3
Accounts receivable, less allowance for doubtful accounts of $50.5 in 2021 and $56.2 in 2020	388.3	380.7
Prepaid expenses	48.3	63
Other current assets	50.6	55.5
Total Current Assets	537.2	552.5
Property, plant and equipment, less accumulated depreciation of $642.0 in 2021 and $629.7 in 2020	702.4	701.3
Operating lease right-of-use assets	373.5	365
Goodwill	2,811.3	2,819.3
Intangible assets, less accumulated amortization of $669.3 in 2021 and $641.6 in 2020	1,054	1,087.4
Other assets	53	56.4
Total Assets	5,531.4	5,581.9
Current Liabilities:
Current portion of long-term debt	88.6	91
Bank overdrafts	4.3	0
Accounts payable	195.1	181.2
Accrued liabilities	245.2	289.4
Operating lease liabilities	87.4	86.2
Other current liabilities	53.4	49.3
Total Current Liabilities	674	697.1
Long-term debt, net	1,651	1,689.1
Long-term operating lease liabilities	305.3	299
Deferred income taxes	375.9	380.4
Long-term taxes payable	18.1	22.7
Other liabilities	58.3	59.2
Total Liabilities	3,082.6	3,147.5
Commitments and Contingencies	0	0
EQUITY
Common stock (par value $0.01 per share, 120.0 shares authorized, 91.8 and 91.6 issued and outstanding in 2021 and 2020, respectively)	0.9	0.9
Additional paid-in capital	1,235.9	1,234
Retained earnings	1,408.7	1,382.6
Accumulated other comprehensive loss	(200.3)	(187.4)
Total Stericycle, Inc.’s Equity	2,445.2	2,430.1
Noncontrolling interests	3.6	4.3
Total Equity	2,448.8	2,434.4
Total Liabilities and Equity	$ 5,531.4	$ 5,581.9

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 50.5	$ 56.2
Property, plant and equipment, accumulated depreciation	642	629.7
Intangible assets, accumulated amortization	$ 669.3	$ 641.6
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	120,000,000	120,000,000
Common stock, issued (in shares)	91,800,000	91,600,000
Common stock, outstanding (in shares)	91,800,000	91,600,000

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
OPERATING ACTIVITIES:
Net income (loss)	$ 26.2	$ (19.9)
Adjustments to reconcile net income (loss) to net cash from operating activities:
Depreciation	25.5	28
Intangible amortization	29.8	31.9
Stock-based compensation expense	5.1	5.1
Deferred income taxes	(2.1)	(0.4)
Divestiture losses (gains), net	0	58.3
Asset impairments, loss on disposal of property plant and equipment and other charges	0	3.9
Other, net	1.9	0.1
Changes in operating assets and liabilities, net of the effects of divestitures:
Accounts receivable	(10.4)	(1.2)
Prepaid expenses	14.4	(32.7)
Accounts payable	11.2	9.3
Accrued liabilities	(34.2)	(7.7)
Other assets and liabilities	(4.8)	7.4
Net cash from operating activities	62.6	82.1
INVESTING ACTIVITIES:
Capital expenditures	(24.7)	(39.6)
Other, net	0.2	(0.5)
Net cash from investing activities	(24.5)	(40.1)
FINANCING ACTIVITIES:
Repayments of long-term debt and other obligations	(6.3)	(6.7)
Repayments of foreign bank debt	(0.1)	(2.6)
Repayment of term loan	(11.9)	(43.8)
Proceeds from senior credit facility	269.3	343.6
Repayment of senior credit facility	(288.8)	(327.4)
Proceeds from bank overdrafts, net	4.3	1.2
Payments of capital lease obligations	(0.9)	(1.3)
Payments of debt issuance costs	0	(1.4)
Proceeds from issuance of common stock, net of (payments of) taxes from withheld shares	(5.1)	(1.2)
Payments to noncontrolling interest	(0.6)	0
Net cash from financing activities	(40.1)	(39.6)
Effect of exchange rate changes on cash and cash equivalents	(1.3)	(1.1)
Net change in cash and cash equivalents	(3.3)	1.3
Cash and cash equivalents at beginning of period	53.3	34.7
Cash and cash equivalents at end of period	50	36
SUPPLEMENTAL CASH FLOW INFORMATION:
Interest paid during the period, net of capitalized interest	20	35.6
Income taxes paid (refunded), net during the period	1.9	0.4
Capital expenditures in Accounts payable	$ 15.5	$ 33.1

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) shares in Millions, $ in Millions	Total	Restatement adjustment	Common Stock	Additional Paid-In Capital	Retained Earnings	Retained EarningsRestatement adjustment	Accumulated Other Comprehensive Loss	Noncontrolling Interests
Beginning Balance at Dec. 31, 2019	$ 2,334.7		$ 0.9	$ 1,205.7	$ 1,442.4		$ (318.1)	$ 3.8
Beginning Balance (in shares) at Dec. 31, 2019			91.2
Net income (loss)	(19.9)				(20.1)			0.2
Currency translation adjustments	(39.1)						(39.1)
Issuance of common stock for incentive stock programs, net of (payments of) taxes from withheld shares	1.9			1.9
Issuance of common stock for incentive stock programs, net of (payments of) taxes from withheld shares (in shares)			0.2
Stock-based compensation expense	5.1			5.1
Cumulative effect of adopting ASU 2016-13 | ASU 2016-13		$ (2.5)				$ (2.5)
Ending Balance at Mar. 31, 2020	2,280.2		$ 0.9	1,212.7	1,419.8		(357.2)	4
Ending Balance (in shares) at Mar. 31, 2020			91.4
Beginning Balance at Dec. 31, 2020	2,434.4		$ 0.9	1,234	1,382.6		(187.4)	4.3
Beginning Balance (in shares) at Dec. 31, 2020			91.6
Net income (loss)	26.2				26.1			0.1
Currency translation adjustments	(13.1)						(12.9)	(0.2)
Issuance of common stock for incentive stock programs, net of (payments of) taxes from withheld shares	(3.2)			(3.2)
Issuance of common stock for incentive stock programs, net of (payments of) taxes from withheld shares (in shares)			0.2
Stock-based compensation expense	5.1			5.1
Changes to noncontrolling interest	(0.6)							(0.6)
Ending Balance at Mar. 31, 2021	$ 2,448.8		$ 0.9	$ 1,235.9	$ 1,408.7		$ (200.3)	$ 3.6
Ending Balance (in shares) at Mar. 31, 2021			91.8

BASIS OF PRESENTATION AND SUMMA

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 1 – BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Summary of Significant Accounting Policies Basis of Presentation: The accompanying unaudited Condensed Consolidated Financial Statements include the accounts of Stericycle, Inc. and its subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The Company's Condensed Consolidated Financial Statements were prepared in accordance with U.S. GAAP and include the assets, liabilities, revenues, and expenses of all wholly owned subsidiaries and majority-owned subsidiaries over which the Company exercises control. Outside shareholders' interests in subsidiaries are shown on the Condensed Consolidated Financial Statements as “Noncontrolling interests". The accompanying unaudited Condensed Consolidated Financial Statements as of March 31, 2021 and for the three months ended March 31, 2021 and 2020 have been prepared pursuant to the rules and regulations of the SEC for interim reporting and, therefore, do not include all information and footnote disclosures normally included in audited financial statements prepared in conformity with U.S. GAAP. In the opinion of management, however, all adjustments, consisting of normal recurring adjustments necessary to present fairly the results of operations, financial position and cash flows have been made. These Condensed Consolidated Financial Statements should be read in conjunction with the consolidated financial statements and notes thereto included in the 2020 Form 10-K. The results of operations for any interim period are not necessarily indicative of the results of operations to be expected for the full year or any other period. Use of Estimates: The preparation of financial statements in conformity with generally accepted accounting principles requires the Company to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Some areas where the Company makes estimates include its allowance for doubtful accounts, credit memo reserve, accrued employee health and welfare benefits, contingent liabilities, asset retirement obligations, stock-based compensation expense, income tax liabilities, accrued auto and workers’ compensation self-insured claims, operating lease ROU assets and lease liabilities, intangible asset and long-lived asset valuations, assets held for sale, and goodwill impairment. Actual results may differ from those estimates. Adoption of New Accounting Standards Simplifying the Accounting for Income Taxes In December 2019, the FASB issued ASU 2019-12, “ Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes” (“ ASU 2019-12 ”). ASU 2019-12 attempts to simplify aspects of accounting for franchise taxes and en

REVENUES FROM CONTRACTS WITH CU

REVENUES FROM CONTRACTS WITH CUSTOMERS	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
REVENUES FROM CONTRACTS WITH CUSTOMERS	NOTE 2 – REVENUES FROM CONTRACTS WITH CUSTOMERS The Company provides RWCS, which provide collection and processing of regulated and specialized waste, including medical, pharmaceutical and hazardous waste, for disposal and compliance programs and communication solutions, and SID Services, which provide for the collection of personal and confidential information for secure destruction and recycling of shredded paper. The Company’s customers typically enter into a contract for the provision of services on a regular and scheduled basis, e.g., weekly, monthly or on an as needed basis over the contract term. Under the contract terms, the Company receives fees based on a monthly, quarterly or annual rate and/or fees based on contractual rates depending upon measures including the volume, weight, and type of waste, number and size of bins collected, weight and type of shredded paper, and number of call minutes. Amounts are invoiced based on the terms of the underlying contract either on a regular basis, e.g., monthly or quarterly, or as services are performed and are generally due within a short period of time after invoicing based upon normal terms and conditions for our business type and the geography of the services performed. Disaggregation of Revenues In the first quarter of 2021, we updated our service lines to include Communication Solutions (formally part of CRS) in RWCS. This reclassification was driven by the divestiture of the Company's global product recall business (Expert Solutions) in December of 2020 and the remaining Communication Solutions service line synergies with the Company's RWCS customers. For 2020 periods presented, amounts have been recast to reflect this change. During the second quarter of 2020, we updated our service lines to include Hazardous Waste Solutions Services and Manufacturing and Industrial Services in RWCS. This reclassification was driven by the divestiture of the Domestic Environmental Solutions business in April of 2020. In addition, during the second quarter of 2020, we updated segment reporting to reflect CRS as part of the North America segment. See 2020 Form 10-K for further information. For 2020 periods presented, amounts have been recast to reflect these changes. In millions Three Months Ended March 31, 2021 2020 Revenue by Service Regulated Waste and Compliance Services $ 473.6 $ 566.9 Secure Information Destruction Services 194.4 218.1 Total Revenues $ 668.0 $ 785.0 North America Regulated Waste and Compliance Services $ 366.8 $ 468.6 Secure Information Destruction Services 166.9 186.0 Total North America Segment $ 533.7 $ 654.6 International Regulated Waste and Compliance Services $ 106.8 $ 98.3 Secure Information Destruction Services 27.5 32.1 Total International Segment $ 134.3 $ 130.4 Contract Liabilities Contract liabilities at March 31, 2021 and December 31, 2020 were $9.8 million and $8.8 million, respectively. Contract liabilities as of March 31, 2021 are expected to be recognized in Revenues, as the amounts are earned, which will be over the next 12 months. Contract Acquisition Costs The Company’s incremental direct costs of obtaining a contract, which consist primarily of sales incentives, are deferred and amortized to SG&A over a weighted average estimated period of benefit of 6.5 years. During the three months ended March 31, 2021 and 2020, the Company amortized $3.0 million and $2.6 million, respectively, of deferred sales incentives to SG&A. Total contract acquisition costs, net of accumulated amortization, were classified as follows: In millions March 31, 2021 December 31, 2020 Other current assets $ 11.4 $ 11.1 Other assets 31.7 31.1 Total contract acquisition costs $ 43.1 $ 42.2 Allowance for Doubtful Accounts The Company estimates its allowance for doubtful accounts based on past collection history and specific risks identified among uncollected amounts, as well as management’s expectation of future economic conditions. If current or expected future economic trends, events, or changes in circumstances indicate that specific receivable balances may be impaired, further consideration is given to the collectability of those balances and the allowance is

RESTRUCTURING, DIVESTITURES, AN

RESTRUCTURING, DIVESTITURES, AND IMPAIRMENTS	3 Months Ended
	Mar. 31, 2021
Restructuring and Related Activities [Abstract]
RESTRUCTURING, DIVESTITURES, AND IMPAIRMENTS	NOTE 3 – RESTRUCTURING, DIVESTITURES, AND IMPAIRMENTS Restructuring There were no restructuring charges during the three months ended March 31, 2021 and 2020, respectively. Divestitures On April 6, 2020, the Company completed the sale of its Domestic Environmental Solutions business for approximately $462.5 million. During the three months ended March 31, 2020, the Company recognized an impairment charge of $58.3 million, inclusive of $10.8 million of related deal costs, associated with classifying the Domestic Environmental Solutions disposal group as assets held-for-sale as the carrying value of the net assets held-for-sale exceeded their fair value less cost to sell as Divestiture losses (gains), net in the Company’s Condensed Consolidated Statements of Income (Loss). The estimated fair value was generated using Level 3 inputs. Impairments For the three months ended March 31, 2020, we recognized an impairment charge of $4.0 million related to customer list intangibles due to the discontinuation of a certain Communication Solutions service line in North America.

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	NOTE 4 – GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill Changes in the carrying amount of goodwill by reportable segment were as follows: In millions North America International Total Balance as of December 31, 2020 $ 2,448.8 $ 370.5 $ 2,819.3 Changes due to foreign currency fluctuations — (8.0) (8.0) Balance as of March 31, 2021 $ 2,448.8 $ 362.5 $ 2,811.3 Intangible Assets Intangible assets were as follows: In millions March 31, 2021 December 31, 2020 Gross Carrying Amount Accumulated Amortization Net Value Gross Carrying Amount Accumulated Amortization Net Value Amortizable intangibles: Customer relationships $ 1,310.7 $ 657.1 $ 653.6 $ 1,314.9 $ 630.2 $ 684.7 Covenants not-to-compete 3.5 3.1 0.4 3.5 3.0 0.5 Tradenames 3.6 1.3 2.3 3.6 1.3 2.3 Operating permits 11.5 7.2 4.3 11.5 6.5 5.0 Other 0.6 0.6 — 0.6 0.6 — Indefinite lived intangibles: Operating permits 77.8 — 77.8 79.6 — 79.6 Tradenames 315.6 — 315.6 315.3 — 315.3 Total $ 1,723.3 $ 669.3 $ 1,054.0 $ 1,729.0 $ 641.6 $ 1,087.4 Changes in the carrying amount of intangible assets were as follows: In millions Total Balance as of December 31, 2020 $ 1,087.4 Amortization during the period (29.8) Changes due to foreign currency fluctuations (3.6) Balance as of March 31, 2021 $ 1,054.0 The estimated amortization expense for each of the next five years (based upon exchange rates at March 31, 2021) is as follows for the years ending December 31: In millions 2021 (remainder) $ 86.7 2022 115.2 2023 111.9 2024 110.4 2025 90.0

LONG-TERM DEBT

LONG-TERM DEBT	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
LONG-TERM DEBT	NOTE 5 – LONG-TERM DEBT The Company’s long-term debt consisted of the following: In millions March 31, December 31, $1.2 billion Senior Credit Facility, due in November 2022 $ 153.2 $ 173.3 $1.3 billion Term Loan, due in November 2022 410.7 422.5 $600 million Senior Notes, due in 2024 600.0 600.0 $500 million Senior Notes, due in 2029 500.0 500.0 Promissory notes and deferred consideration weighted average maturity 2.0 years at 2021 and 2.1 years at 2020 35.9 42.3 Foreign bank debt weighted average maturity 0.8 years at 2021 and 1.1 years at 2020 30.0 32.3 Obligations under finance leases 23.8 24.8 Total debt 1,753.6 1,795.2 Less: current portion of total debt 88.6 91.0 Less: unamortized debt issuance costs 14.0 15.1 Long-term portion of total debt $ 1,651.0 $ 1,689.1 The estimated fair value of our debt approximated $1.77 billion and $1.86 billion as of March 31, 2021 and December 31, 2020, respectively. These fair value amounts were estimated using an income approach by applying market interest rates for comparable instruments and developed based on inputs classified as Level 2 within the fair value hierarchy. On February 25, 2020, the Company executed a Fifth Amendment, which amended the Credit Agreement. As of March 31, 2021, the Company was in compliance with its Consolidated Leverage Ratio covenant, with an actual ratio of 3.28 to 1.00, which was below the allowed maximum ratio of 4.75 to 1.00 as set forth in the Fifth Amendment. The Consolidated Leverage Ratio is 4.75 to 1.00 for fiscal quarters ending on or before December 31, 2021 and 4.25 to 1.00 for fiscal quarters ending on or after March 31, 2022. Amounts committed to outstanding letters of credit and the unused portion of the Company’s Senior Credit Facility were as follows: In millions March 31, 2021 December 31, 2020 Outstanding letters of credit under Senior Credit Facility $ 76.0 $ 79.5 Unused portion of the Senior Credit Facility 970.8 947.2

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 6 – INCOME TAXES The Company reported income tax expense of $13.8 million for the three months ended March 31, 2021 compared to a benefit of $38.4 million for the three months ended March 31, 2020. The effective tax rates for the three months ended March 31, 2021 and 2020 was an expense of 34.5% and a benefit of 65.9%, respectively. The tax rate for the three months ended March 31, 2021 reflects losses in jurisdictions that are not eligible for tax benefits on account of valuation allowances and equity-based compensation awards expiring without a tax benefit. The effective tax rate for the three months ended March 31, 2020 reflects a $39.4 million tax benefit related to the CARES Act as well as the tax impact from a divestiture related impairment that was primarily non-deductible. In response to the COVID-19 pandemic: • On March 11, 2021, the President signed into law the ARP Act, a legislative package which is generally not significant to the Company's current tax footprint; however, the Company will continue to assess the ARP Act on an ongoing basis. • On December 27, 2020, the President signed the CAA 2021, which provides several business tax relief provisions, which are generally not significant to the Company's current tax footprint; however, the Company will continue to assess the CAA 2021 on an ongoing basis. • On March 27, 2020, the P resident signed into law the CARES Act, which is a substantial tax-and-spending package. As a result of the CARES Act tax law changes, for the year ended December 31, 2020, we recognized a $44.4 million tax benefit related to our ability to carryback net operating losses to prior years that had higher tax rates. In July 2020, the Company received a cash refund of $48.0 million, and in December 2020, the Company received $64.2 million (of which $62.0 million was the cash refund claim, and $2.2 million was interest income). A remaining carryback claim associated with the finalization of the 2019 U.S. federal income tax return is currently filed with the IRS, and the anticipated refund is less than $1.0 million. Similar tax provisions and other stimulus measures have been granted either before or after March 31, 2021 by certain foreign and U.S. state jurisdictions, which the Company continues to evaluate and apply, if applicable. The Company filed a PFA with the IRS related to a claim under Internal Revenue Code Section 1341 concerning the tax rate to be applied to the SQ Settlement on the Company’s 2018 tax return. As a result of the enactment of the CARES Act, the Company was able to realize a benefit at the higher tax rate in prior years on a portion of the SQ Settlement. In 2020, in consideration of the CARES Act, the Company revised the PFA, a portion of the long-term receivable previously established for the Section 1341 claim was reclassified to a current income tax receivable and the related uncertain tax position was released as part of the tax benefit recognized in 2020. Subsequently in late 2020, the Company amended the 2018 tax return to reduce the Section 1341 benefit as a result of discussions with the IRS as part of the PFA program. Consequently, the remaining long-term receivable established for the Section 1341 claim and the corresponding uncertain tax position has been reclassified to a current income tax receivable and current income tax liability, respectively, as both are expected to settle in cash in 2021. In April, 2021, the Company was advised that the IRS completed its review of the 2018 tax return and took no exception to the Section 1341 benefit. Consequently, the Company anticipates recording a tax benefit of approximately $5.5 million in the second quarter of 2021 associated with the Section 1341 claim.

EARNINGS (LOSS) PER COMMON SHAR

EARNINGS (LOSS) PER COMMON SHARE	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
EARNINGS (LOSS) PER COMMON SHARE	NOTE 7 – EARNINGS (LOSS) PER COMMON SHARE Basic earnings per share is computed by dividing Net Income by the number of weighted average common shares outstanding during the reporting period. Diluted earnings per share is calculated to give effect to all potentially dilutive common shares that were outstanding during the reporting period, only in the periods in which such effect is dilutive. The following table shows the effect of stock-based awards on the weighted average number of shares outstanding used in calculating diluted earnings per share: In millions of shares Three Months Ended March 31, 2021 2020 Weighted average common shares outstanding - basic 91.6 91.3 Incremental shares outstanding related to stock-based awards 0.4 — Weighted average common shares outstanding - diluted 92.0 91.3 In periods of net loss, stock-based awards are anti-dilutive and therefore excluded from the earnings (loss) per share calculation. In thousands Three Months Ended March 31, 2021 2020 Options excluded from computation of diluted earnings (loss) per share 2,372 3,644 RSUs excluded from computation of diluted earnings (loss) per share 30 183 PSUs are offered to key employees and are subject to achievement of specified performance conditions . Contingently issuable shares are excluded from the computation of diluted earnings per share based on current period results. The shares would not be issuable if the end of the reporting period were the end of the contingency period. If such goals are not met, no compensation expense is recognized, and any previously recognized compensation expense is reversed.

SEGMENT REPORTING

SEGMENT REPORTING	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
SEGMENT REPORTING	NOTE 8 – SEGMENT REPORTING The Company evaluates, oversees, and manages the financial performance of two operating segments – North America and International. The following tables show financial information for the Company's reportable segments: In millions Three Months Ended March 31, 2021 2020 Revenues North America $ 533.7 $ 654.6 International 134.3 130.4 Total $ 668.0 $ 785.0 Adjusted Income from Operations North America $ 157.6 $ 149.6 International 12.6 15.1 Other Costs (60.2) (70.9) Total $ 110.0 $ 93.8 The following table reconciles the Company's primary measure of segment profitability, Adjusted Income from Operations, to Income (loss) from operations: In millions Three Months Ended March 31, 2021 2020 Total Reportable Segment Adjusted Income from Operations $ 110.0 $ 93.8 Adjusting Items: ERP Implementation (17.9) (18.0) Intangible Amortization (29.8) (31.9) Divestitures (including Divestiture (losses) gains, net) (1.2) (61.3) Litigation, Settlements and Regulatory Compliance (2.0) (4.4) Asset Impairments — (4.0) Other — (4.6) Income (loss) from operations $ 59.1 $ (30.4)

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 9 – COMMITMENTS AND CONTINGENCIES Legal Proceedings The Company operates in highly regulated industries and responds to regulatory inquiries or investigations from time to time that may be initiated for a variety of reasons. At any given time, the Company has matters at various stages of resolution with the applicable government authorities. The Company is also routinely involved in actual or threatened legal actions, including those involving alleged personal injuries and commercial, employment, environmental, tax, and other issues. The outcomes of these matters are not within the Company’s complete control and may not be known for prolonged periods of time. In some actions, claimants seek damages, as well as other relief, including injunctive relief, that could require significant expenditures or result in lost revenue. In accordance with applicable accounting standards, the Company establishes an accrued liability for loss contingencies related to legal and regulatory matters when the loss is both probable and reasonably estimable. If the reasonable estimate of a probable loss is a range, and no amount within the range is a better estimate than any other, the minimum amount of the range is accrued. If a loss is not probable or a probable loss is not reasonably estimable, no liability is recorded. When determining the estimated loss or range of loss, significant judgment is required to estimate the amount and timing of a loss to be recorded. These accruals represent management’s best estimate of probable losses and, in such cases, there may be an exposure to loss in excess of the amounts accrued. Estimates of probable losses resulting from litigation and regulatory proceedings are difficult to predict. Legal and regulatory matters inherently involve significant uncertainties based on, among other factors, the jurisdiction and stage of the proceedings, developments in the applicable facts or law, and the unpredictability of the ultimate determination of the merits of any claim, any defenses the Company may assert against that claim, and the amount of any damages that may be awarded. The Company’s accrued liabilities for loss contingencies related to legal and regulatory matters may change in the future as a result of new developments, including, but not limited to, the occurrence of new legal matters, changes in the law or regulatory environment, adverse or favorable rulings, newly discovered facts relevant to the matter, or changes in the strategy for the matter. Regardless of the outcome, litigation can have an adverse impact on the Company because of defense and settlement costs, diversion of management resources and other factors. Contract Class Action and Opt Out Lawsuits. Beginning on March 12, 2013, the Company was served with several class action complaints filed in federal and state courts in several jurisdictions. These complaints asserted, among other things, that the Company had imposed unauthorized or excessive price increases and other charges on its customers in breach of its contracts and in violation of the Illinois Consumer Fraud and Deceptive Business Practices Act. The complaints sought certification of the lawsuit as a class action and the award to class members of appropriate damages and injunctive relief. These related actions were ultimately transferred to the United States District Court for the Northern District of Illinois for centralized pretrial proceedings. The parties engaged in discussions through and overseen by a mediator regarding a potential resolution of the matter and reached a settlement agreement, as previously disclosed, which settlement agreement obtained court approval on March 8, 2018. Under the terms of the SQ Settlement, the Company admitted no fault or wrongdoing whatsoever, and it entered into the SQ Settlement to avoid the cost and uncertainty of litigation. Certain class members who have opted out of the SQ Settlement have filed lawsuits against the Company, and the Company is defending and will resolve those actions. The Company has made an accrual in respect of these collective matters consistent with its accrual policies described above, which is not material. U.S. Government Investigations. On June 12, 2017, the SEC issued a subpoena to the Company, requesting documents and information relating to the Company’s compliance with the FCPA or other foreign or domestic anti-corruption laws with respect to certain of the Company’s operations in Latin America. In addition, the DOJ notified the Company that it was investigating this matter in parallel with the SEC. The Company is cooperating with these agencies and certain foreign authorities. The Company also conducted an internal investigation of these and other matters, including outside of Latin America, under the oversight of the Audit Committee of the Board of Directors and with the assistance of outside counsel, and this investigation found evidence of improper conduct. As part of the FCPA investigation discussed above, the SEC has requested certain additional information from the Company. On July 29, 2019, the SEC issued a subpoena to the Company requesting documents relating to the Company’s pricing practices concerning small quantity customers, as alleged in the Contract Class Action previously discussed. The Company is cooperating with the SEC’s request. In addition, the Company has been informed that the office of the United States Attorney for the Southern District of New York is conducting an investigation related to Stericycle’s collection, transportation and disposal of hazardous waste. The Company is cooperating with this investigation. The Company has separately been informed that the State of California Department of Justice has opened an investigation related to Stericycle’s collection, transportation, and disposal of waste generated by government customers in California. The Company is cooperating with this investigation. The Company has not accrued any amounts in respect of the foregoing U.S. government investigation matters, as it cannot estimate any reasonably possible loss or any range of reasonably possible losses that the Company may incur. The Company is unable to make such an estimate because, based on what the Company knows now, in the Company’s judgment, the factual and legal issues presented in this matter are sufficiently unique that the Company is unable to identify other circumstances sufficiently comparable to provide guidance in making estimates. Environmental and Regulatory Matters. The Company is regulated by federal, state and local laws enacted to regulate the discharge of materials into the environment, the generation, transportation and disposal of waste, and the cleanup of contaminated soil and groundwater and protection of the environment. Because of the highly regulated nature of its business, the Company frequently becomes a party to legal or administrative proceedings involving various governmental authorities and other interested parties. The issues involved in these proceedings generally relate to alleged violations of existing permits and licenses or alleged responsibility under federal or state Superfund laws to remediate contamination at properties owned either by the Company or by other parties to which either the Company or the prior owners of certain of its facilities shipped waste. From time to time, the Company may be subject to fines or penalties in regulatory proceedings relating primarily to waste treatment, storage or disposal facilities. Effective April 6, 2020, the Company completed the divestiture of its Domestic Environmental Solutions business, including the facility in Rancho Cordova, California, to Harsco Corporation. Pursuant to the Purchase Agreement, the Company may have liability under certain indemnification claims for matters relating to those Environmental Solutions facilities, including potentially with respect to the investigations by the Southern District of New York and California Department of Justice described above and the Rancho Cordova, California, and DEA Investigation matters discussed below. North Salt Lake, Utah. The Company and the United States DOJ have reached a settlement in principle, subject to Court approval, to resolve an investigation by the EPA into alleged past Clean Air Act and permit violations, as previously alleged in the NOV issued by the State of Utah DAQ. The NOV resulted in the Company’s December 2014 settlement with the DAQ, as previously disclosed. The federal settlement is documented in the form of a proposed civil consent decree, which was filed with the United States District Court for the District of Utah on January 29, 2021. The DOJ filed a motion to approve the settlement on April 19, 2021. If the Court approves the settlement, the Company will undertake a Supplemental Environmental Project, in which it will provide funds to the local Davis County School District to replace older, higher-emission school buses with new, more efficient buses to reduce pollution and protect the local environment, and pay a civil penalty under the Clean Air Act. The Company has accrued the total amount of the agreement in principle, which is not material. Rancho Cordova, California. On June 25 and 26, 2018, the California DTSC conducted a Compliance Enforcement Inspection of the Company’s former Environmental Solutions facility in Rancho Cordova, California. On February 14, 2020, DTSC filed an action in the Superior Court for the State of California, Sacramento County Division, alleging violations of California’s Hazardous Waste Control Law and the facility’s hazardous waste permit arising from the inspection. That action is ongoing. Separately, on August 15, 2019, the Company received from DTSC a written Intent to Deny Hazardous Waste Facility Permit application for the Rancho Cordova facility. A public hearing was held on September 22, 2019, and the public comment period closed on October 25, 2019. The Company entered a written submission as part of that process. On August 27, 2020, DTSC issued a Notice of Denial of Hazardous Waste Facility Permit Application and on September 25, 2020, the Company filed a Petition for Review, which instituted an administrative appeal of DTSC’s action, which is currently pending. The Company is vigorously defending itself in all of the Rancho Cordova, California matters. The Company has not accrued any amounts in respect of these matters and cannot estimate the reasonably possible loss or the range of reasonably possible losses that it may incur. The Company is unable to make such an estimate because (i) litigation is by its nature uncertain and unpredictable and (ii) in the Company’s judgment, the factual and legal allegations asserted by DTSC are sufficiently unique that it is unable to identify other proceedings with circumstances sufficiently comparable to provide guidance in making estimates. DEA Investigation. On February 11, 2020, the Company received an administrative subpoena from the DEA, which executed a search warrant at the Company’s former Environmental Solutions facility at Rancho Cordova, California and an administrative inspection warrant at the Company’s former facility in Indianapolis, Indiana for materials related to the former Environmental Solutions business of collecting, transporting, and destroying controlled substances from retail customers (the “ESOL Retail Controlled Substances Business”). On that same day, agents from the DTSC executed a separate search warrant at the Rancho Cordova facility. Since that time, the U.S. Attorney’s Office for the Eastern District of California (“USAO EDCA”) has been overseeing criminal and civil investigations of the ESOL Retail Controlled Substances Business. The USAO EDCA has recently informed the Company that it may have civil liability under the Controlled Substances Act related to the ESOL Retail Controlled Substances Business. The Company is cooperating with the civil and criminal investigations, which are ongoing. The Company has not accrued any amounts in respect of these investigations and cannot estimate the reasonably possible loss or any range of reasonably possible losses that the Company may incur. The Company is unable to make such an estimate because, based on what the Company knows now, in the Company’s judgment, the factual and legal issues presented in this matter are sufficiently unique that the Company is unable to identify other circumstances sufficiently comparable to provide guidance in making estimates. European Retrovirus Investigations. In conjunction with Europol, governmental authorities of Spain, Portugal, and Romania have conducted coordinated inspections of a large number of medical waste management facilities, including Stericycle facilities, relating to the transportation, management and disposal of waste that may be infected with the COVID-19 virus, and related matters. The inspections have resulted in proceedings in Spain and Portugal. The Company intends to vigorously defend itself in these proceedings. The Company has not accrued any amounts in respect of these investigations, as it cannot estimate the reasonably possible loss or any range of reasonably possible losses that the Company may incur. The Company is unable to make such an estimate because, based on what the Company knows now, in the Company’s judgment, the factual and legal issues presented in this matter are sufficiently unique that the Company is unable to identify other circumstances sufficiently comparable to provide guidance in making estimates.

BASIS OF PRESENTATION AND SUM_2

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation: The accompanying unaudited Condensed Consolidated Financial Statements include the accounts of Stericycle, Inc. and its subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The Company's Condensed Consolidated Financial Statements were prepared in accordance with U.S. GAAP and include the assets, liabilities, revenues, and expenses of all wholly owned subsidiaries and majority-owned subsidiaries over which the Company exercises control. Outside shareholders' interests in subsidiaries are shown on the Condensed Consolidated Financial Statements as “Noncontrolling interests". The accompanying unaudited Condensed Consolidated Financial Statements as of March 31, 2021 and for the three months ended March 31, 2021 and 2020 have been prepared pursuant to the rules and regulations of the SEC for interim reporting and, therefore, do not include all information and footnote disclosures normally included in audited financial statements prepared in conformity with U.S. GAAP. In the opinion of management, however, all adjustments, consisting of normal recurring adjustments necessary to present fairly the results of operations, financial position and cash flows have been made. These Condensed Consolidated Financial Statements should be read in conjunction with the consolidated financial statements and notes thereto included in the 2020 Form 10-K. The results of operations for any interim period are not necessarily indicative of the results of operations to be expected for the full year or any other period.
Use of Estimates	Use of Estimates: The preparation of financial statements in conformity with generally accepted accounting principles requires the Company to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Some areas where the Company makes estimates include its allowance for doubtful accounts, credit memo reserve, accrued employee health and welfare benefits, contingent liabilities, asset retirement obligations, stock-based compensation expense, income tax liabilities, accrued auto and workers’ compensation self-insured claims, operating lease ROU assets and lease liabilities, intangible asset and long-lived asset valuations, assets held for sale, and goodwill impairment. Actual results may differ from those estimates.
Adoption of New Accounting Standards	Adoption of New Accounting Standards Simplifying the Accounting for Income Taxes In December 2019, the FASB issued ASU 2019-12, “ Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes” (“ ASU 2019-12 ”). ASU 2019-12 attempts to simplify aspects of accounting for franchise taxes and en

REVENUES FROM CONTRACTS WITH _2

REVENUES FROM CONTRACTS WITH CUSTOMERS (Tables)	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Schedule of Revenues Disaggregated by Service, Primary Geographical Regions and Timing of Revenue Recognition	In millions Three Months Ended March 31, 2021 2020 Revenue by Service Regulated Waste and Compliance Services $ 473.6 $ 566.9 Secure Information Destruction Services 194.4 218.1 Total Revenues $ 668.0 $ 785.0 North America Regulated Waste and Compliance Services $ 366.8 $ 468.6 Secure Information Destruction Services 166.9 186.0 Total North America Segment $ 533.7 $ 654.6 International Regulated Waste and Compliance Services $ 106.8 $ 98.3 Secure Information Destruction Services 27.5 32.1 Total International Segment $ 134.3 $ 130.4
Schedule of Total Contract Acquisition Costs	Total contract acquisition costs, net of accumulated amortization, were classified as follows: In millions March 31, 2021 December 31, 2020 Other current assets $ 11.4 $ 11.1 Other assets 31.7 31.1 Total contract acquisition costs $ 43.1 $ 42.2

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in Carrying Amount of Goodwill	Changes in the carrying amount of goodwill by reportable segment were as follows: In millions North America International Total Balance as of December 31, 2020 $ 2,448.8 $ 370.5 $ 2,819.3 Changes due to foreign currency fluctuations — (8.0) (8.0) Balance as of March 31, 2021 $ 2,448.8 $ 362.5 $ 2,811.3
Intangible Assets	Intangible assets were as follows: In millions March 31, 2021 December 31, 2020 Gross Carrying Amount Accumulated Amortization Net Value Gross Carrying Amount Accumulated Amortization Net Value Amortizable intangibles: Customer relationships $ 1,310.7 $ 657.1 $ 653.6 $ 1,314.9 $ 630.2 $ 684.7 Covenants not-to-compete 3.5 3.1 0.4 3.5 3.0 0.5 Tradenames 3.6 1.3 2.3 3.6 1.3 2.3 Operating permits 11.5 7.2 4.3 11.5 6.5 5.0 Other 0.6 0.6 — 0.6 0.6 — Indefinite lived intangibles: Operating permits 77.8 — 77.8 79.6 — 79.6 Tradenames 315.6 — 315.6 315.3 — 315.3 Total $ 1,723.3 $ 669.3 $ 1,054.0 $ 1,729.0 $ 641.6 $ 1,087.4
Changes in Carrying Amount of Intangible Assets	Changes in the carrying amount of intangible assets were as follows: In millions Total Balance as of December 31, 2020 $ 1,087.4 Amortization during the period (29.8) Changes due to foreign currency fluctuations (3.6) Balance as of March 31, 2021 $ 1,054.0
Estimated Amortization Expense	The estimated amortization expense for each of the next five years (based upon exchange rates at March 31, 2021) is as follows for the years ending December 31: In millions 2021 (remainder) $ 86.7 2022 115.2 2023 111.9 2024 110.4 2025 90.0

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	The Company’s long-term debt consisted of the following: In millions March 31, December 31, $1.2 billion Senior Credit Facility, due in November 2022 $ 153.2 $ 173.3 $1.3 billion Term Loan, due in November 2022 410.7 422.5 $600 million Senior Notes, due in 2024 600.0 600.0 $500 million Senior Notes, due in 2029 500.0 500.0 Promissory notes and deferred consideration weighted average maturity 2.0 years at 2021 and 2.1 years at 2020 35.9 42.3 Foreign bank debt weighted average maturity 0.8 years at 2021 and 1.1 years at 2020 30.0 32.3 Obligations under finance leases 23.8 24.8 Total debt 1,753.6 1,795.2 Less: current portion of total debt 88.6 91.0 Less: unamortized debt issuance costs 14.0 15.1 Long-term portion of total debt $ 1,651.0 $ 1,689.1
Schedule of Outstanding Letters of Credit and the Unused Portion of Senior Credit Facility	Amounts committed to outstanding letters of credit and the unused portion of the Company’s Senior Credit Facility were as follows: In millions March 31, 2021 December 31, 2020 Outstanding letters of credit under Senior Credit Facility $ 76.0 $ 79.5 Unused portion of the Senior Credit Facility 970.8 947.2

EARNINGS (LOSS) PER COMMON SH_2

EARNINGS (LOSS) PER COMMON SHARE (Tables)	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings (Loss) Per Share	The following table shows the effect of stock-based awards on the weighted average number of shares outstanding used in calculating diluted earnings per share: In millions of shares Three Months Ended March 31, 2021 2020 Weighted average common shares outstanding - basic 91.6 91.3 Incremental shares outstanding related to stock-based awards 0.4 — Weighted average common shares outstanding - diluted 92.0 91.3
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	In periods of net loss, stock-based awards are anti-dilutive and therefore excluded from the earnings (loss) per share calculation. In thousands Three Months Ended March 31, 2021 2020 Options excluded from computation of diluted earnings (loss) per share 2,372 3,644 RSUs excluded from computation of diluted earnings (loss) per share 30 183

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Financial Information Concerning Company's Reportable Segments	The following tables show financial information for the Company's reportable segments: In millions Three Months Ended March 31, 2021 2020 Revenues North America $ 533.7 $ 654.6 International 134.3 130.4 Total $ 668.0 $ 785.0 Adjusted Income from Operations North America $ 157.6 $ 149.6 International 12.6 15.1 Other Costs (60.2) (70.9) Total $ 110.0 $ 93.8
Reconciliation of Company's Primary Measure of Segment Profitability Adjusted Income from Operations to Income (loss) from Operations	The following table reconciles the Company's primary measure of segment profitability, Adjusted Income from Operations, to Income (loss) from operations: In millions Three Months Ended March 31, 2021 2020 Total Reportable Segment Adjusted Income from Operations $ 110.0 $ 93.8 Adjusting Items: ERP Implementation (17.9) (18.0) Intangible Amortization (29.8) (31.9) Divestitures (including Divestiture (losses) gains, net) (1.2) (61.3) Litigation, Settlements and Regulatory Compliance (2.0) (4.4) Asset Impairments — (4.0) Other — (4.6) Income (loss) from operations $ 59.1 $ (30.4)

REVENUES FROM CONTRACTS WITH _3

REVENUES FROM CONTRACTS WITH CUSTOMERS - Schedule of Revenues Disaggregated by Service, Primary Geographical Regions and Timing of Revenue Recognition (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Disaggregation of Revenue [Line Items]
Revenues	$ 668	$ 785
Regulated Waste and Compliance Services
Disaggregation of Revenue [Line Items]
Revenues	473.6	566.9
Secure Information Destruction Services
Disaggregation of Revenue [Line Items]
Revenues	194.4	218.1
North America
Disaggregation of Revenue [Line Items]
Revenues	533.7	654.6
North America | Regulated Waste and Compliance Services
Disaggregation of Revenue [Line Items]
Revenues	366.8	468.6
North America | Secure Information Destruction Services
Disaggregation of Revenue [Line Items]
Revenues	166.9	186
International
Disaggregation of Revenue [Line Items]
Revenues	134.3	130.4
International | Regulated Waste and Compliance Services
Disaggregation of Revenue [Line Items]
Revenues	106.8	98.3
International | Secure Information Destruction Services
Disaggregation of Revenue [Line Items]
Revenues	$ 27.5	$ 32.1

REVENUES FROM CONTRACTS WITH _4

REVENUES FROM CONTRACTS WITH CUSTOMERS - Narrative (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Contract liability	$ 9.8		$ 8.8
Contract acquisition costs weighted average estimated period	6 years 6 months
Amortized deferred sales incentive cost	$ 3	$ 2.6
Accounts receivable, allowance for doubtful accounts	$ 50.5		$ 56.2

REVENUES FROM CONTRACTS WITH _5

REVENUES FROM CONTRACTS WITH CUSTOMERS - Schedule of Total Contract Acquisition Costs (Detail) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Total contract acquisition costs	$ 43.1	$ 42.2
Other current assets
Disaggregation of Revenue [Line Items]
Total contract acquisition costs	11.4	11.1
Other assets
Disaggregation of Revenue [Line Items]
Total contract acquisition costs	$ 31.7	$ 31.1

RESTRUCTURING, DIVESTITURES, _2

RESTRUCTURING, DIVESTITURES, AND IMPAIRMENTS - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Apr. 06, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 0	$ 0
Customer lists
Restructuring Cost and Reserve [Line Items]
Impairment charges		4,000,000
Domestic Environmental Solutions
Restructuring Cost and Reserve [Line Items]
Sale price for transaction			$ 462,500,000
Recognized impairment charge		58,300,000
Estimated deal costs		$ 10,800,000

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS - Changes in Carrying Amount of Goodwill (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)
Goodwill [Roll Forward]
Beginning Balance	$ 2,819.3
Changes due to foreign currency fluctuations	(8)
Ending Balance	2,811.3
North America
Goodwill [Roll Forward]
Beginning Balance	2,448.8
Changes due to foreign currency fluctuations	0
Ending Balance	2,448.8
International
Goodwill [Roll Forward]
Beginning Balance	370.5
Changes due to foreign currency fluctuations	(8)
Ending Balance	$ 362.5

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS - Intangible Assets (Detail) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Intangible Assets By Major Class [Line Items]
Accumulated Amortization	$ 669.3	$ 641.6
Gross Carrying Amount	1,723.3	1,729
Net Value	1,054	1,087.4
Operating permits
Intangible Assets By Major Class [Line Items]
Carrying amount, indefinite lived intangible assets	77.8	79.6
Tradenames
Intangible Assets By Major Class [Line Items]
Carrying amount, indefinite lived intangible assets	315.6	315.3
Customer relationships
Intangible Assets By Major Class [Line Items]
Gross Carrying Amount	1,310.7	1,314.9
Accumulated Amortization	657.1	630.2
Net Value	653.6	684.7
Covenants not-to-compete
Intangible Assets By Major Class [Line Items]
Gross Carrying Amount	3.5	3.5
Accumulated Amortization	3.1	3
Net Value	0.4	0.5
Tradenames
Intangible Assets By Major Class [Line Items]
Gross Carrying Amount	3.6	3.6
Accumulated Amortization	1.3	1.3
Net Value	2.3	2.3
Operating permits
Intangible Assets By Major Class [Line Items]
Gross Carrying Amount	11.5	11.5
Accumulated Amortization	7.2	6.5
Net Value	4.3	5
Other
Intangible Assets By Major Class [Line Items]
Gross Carrying Amount	0.6	0.6
Accumulated Amortization	0.6	0.6
Net Value	$ 0	$ 0

GOODWILL AND OTHER INTANGIBLE_5

GOODWILL AND OTHER INTANGIBLE ASSETS - Changes in Carrying Amount of Intangible Assets (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Finite-lived and Indefinite-lived Intangible Assets [Roll Forward]
Beginning balance	$ 1,087.4
Amortization during the period	(29.8)	$ (31.9)
Changes due to foreign currency fluctuations	(3.6)
Ending balance	$ 1,054

GOODWILL AND OTHER INTANGIBLE_6

GOODWILL AND OTHER INTANGIBLE ASSETS - Estimated Amortization Expense (Detail) $ in Millions	Mar. 31, 2021USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2021 (remainder)	$ 86.7
2022	115.2
2023	111.9
2024	110.4
2025	$ 90

LONG-TERM DEBT - Schedule of Lo

LONG-TERM DEBT - Schedule of Long-Term Debt (Detail) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Obligations under finance leases	$ 23.8	$ 24.8
Total debt	1,753.6	1,795.2
Less: current portion of total debt	88.6	91
Less: unamortized debt issuance costs	14	15.1
Long-term portion of total debt	1,651	1,689.1
Line of credit | $1.2 billion Senior Credit Facility, due in November 2022
Debt Instrument [Line Items]
Long-term debt	153.2	173.3
Term Loan | $1.3 billion Term Loan, due in November 2022
Debt Instrument [Line Items]
Long-term debt	410.7	422.5
Senior Notes | $500 million Senior Notes, due in 2029
Debt Instrument [Line Items]
Long-term debt	500	500
Senior Notes | $600 million Senior Notes, due in 2024
Debt Instrument [Line Items]
Long-term debt	600	600
Promissory notes and deferred consideration | Promissory notes and deferred consideration (fixed rate)
Debt Instrument [Line Items]
Long-term debt	35.9	42.3
Foreign bank debt | Foreign bank debt (variable rate)
Debt Instrument [Line Items]
Long-term debt	$ 30	$ 32.3

LONG-TERM DEBT - Schedule of _2

LONG-TERM DEBT - Schedule of Long-Term Debt (Parenthetical) (Detail) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Line of credit | $1.2 billion Senior Credit Facility, due in November 2022
Debt Instrument [Line Items]
Maximum borrowing capacity of line of credit facility	$ 1,200,000,000
Term Loan | $1.3 billion Term Loan, due in November 2022
Debt Instrument [Line Items]
Maximum borrowing capacity of line of credit facility	1,300,000,000
Senior Notes | $500 million Senior Notes, due in 2029
Debt Instrument [Line Items]
Debt instrument, face amount	500,000,000
Senior Notes | $600 million Senior Notes, due in 2024
Debt Instrument [Line Items]
Maximum borrowing capacity of line of credit facility	$ 600,000,000
Promissory notes and deferred consideration | Promissory notes and deferred consideration
Debt Instrument [Line Items]
Long-term debt, maturity	2 years	2 years 1 month 6 days
Foreign bank debt | Foreign bank debt
Debt Instrument [Line Items]
Long-term debt, maturity	9 months 18 days	1 year 1 month 6 days

LONG-TERM DEBT - Narrative (Det

LONG-TERM DEBT - Narrative (Detail) - USD ($) $ in Millions	Apr. 06, 2020	Mar. 31, 2021	Dec. 31, 2020
Foreign bank debt | Term Loan Facility
Debt Instrument [Line Items]
Maximum consolidated leverage ratio		328.00%
Foreign bank debt | Maximum | Term Loan Facility
Debt Instrument [Line Items]
Maximum consolidated leverage ratio		475.00%
Period until December 31, 2021 | Maximum | ESOL Disposal Group
Debt Instrument [Line Items]
Maximum consolidated leverage ratio	475.00%
Period until March 31, 2022 | Maximum | ESOL Disposal Group
Debt Instrument [Line Items]
Maximum consolidated leverage ratio	425.00%
Level 2
Debt Instrument [Line Items]
Estimated fair value of debt		$ 1,770	$ 1,860

LONG-TERM DEBT - Schedule of Ou

LONG-TERM DEBT - Schedule of Outstanding Letters of Credit and the Unused Portion of Senior Credit Facility (Detail) - Senior credit facility - Line of credit - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Outstanding letters of credit under Senior Credit Facility	$ 76	$ 79.5
Unused portion of the Senior Credit Facility	$ 970.8	$ 947.2

INCOME TAXES - Additional Infor

INCOME TAXES - Additional Information (Detail) - USD ($) $ in Millions	1 Months Ended		3 Months Ended			12 Months Ended
	Dec. 31, 2020	Jul. 31, 2020	Jun. 30, 2021	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Income Tax Contingency [Line Items]
Income tax (benefit) expense				$ 13.8	$ (38.4)
Effective tax rate				34.50%	(65.90%)
Income tax benefit, CARES Act					$ (39.4)
Tax benefit from net operating losses carry back related to CARES Act						$ 44.4
Proceeds from income tax refunds, CARES Act	$ 62	$ 48
Income taxes receivable, net operating loss, CARES Act	64.2
Interest on income tax expense, CARES Act	$ 2.2
Forecast
Income Tax Contingency [Line Items]
Tax adjustment provision (benefit)			$ (5.5)
Internal Revenue Service | Tax Year 2019
Income Tax Contingency [Line Items]
Income tax refund, CARES Act				$ (1)

EARNINGS (LOSS) PER COMMON SH_3

EARNINGS (LOSS) PER COMMON SHARE - Computation of Basic and Diluted Earnings (Loss) Per Share (Detail) - shares shares in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Earnings Per Share [Abstract]
Weighted average common shares outstanding - basic (in shares)	91.6	91.3
Incremental shares outstanding related to stock-based awards (in shares)	0.4	0
Weighted average common shares outstanding - diluted (in shares)	92	91.3

EARNINGS (LOSS) PER COMMON SH_4

EARNINGS (LOSS) PER COMMON SHARE - Schedule of Antidilutive Securities Excluded from EPS Calculation (Detail) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares excluded from computation of diluted earnings (loss) per share (in shares)	2,372	3,644
Restricted Stock Units (RSUs)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares excluded from computation of diluted earnings (loss) per share (in shares)	30	183

SEGMENT REPORTING - Narrative (

SEGMENT REPORTING - Narrative (Detail)	3 Months Ended
	Mar. 31, 2021segment
Segment Reporting [Abstract]
Number of operating segments (in segments)	2

SEGMENT REPORTING - Financial I

SEGMENT REPORTING - Financial Information Concerning Company's Reportable Segments (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Revenues	$ 668	$ 785
Adjusted Income from Operations	110	93.8
North America
Segment Reporting Information [Line Items]
Revenues	533.7	654.6
Adjusted Income from Operations	157.6	149.6
International
Segment Reporting Information [Line Items]
Revenues	134.3	130.4
Adjusted Income from Operations	12.6	15.1
Other Costs
Segment Reporting Information [Line Items]
Adjusted Income from Operations	$ (60.2)	$ (70.9)

SEGMENT REPORTING - Reconciliat

SEGMENT REPORTING - Reconciliation of Company's Primary Measure of Segment Profitability Adjusted Income from Operations to Income (loss) from Operations (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting [Abstract]
Total Reportable Segment Adjusted Income from Operations	$ 110	$ 93.8
ERP Implementation	(17.9)	(18)
Intangible Amortization	(29.8)	(31.9)
Divestitures (including Divestiture (losses) gains, net)	(1.2)	(61.3)
Litigation, Settlements and Regulatory Compliance	(2)	(4.4)
Asset Impairments	0	(4)
Other	0	(4.6)
Income (loss) from operations	$ 59.1	$ (30.4)