Item 2.02 Results of Operations and Financial Condition. OnMay 5, 2021 ,Republic Services, Inc. (the Company) issued a press release containing information about the Company's financial results for the three months endedMarch 31, 2021 . A copy of this press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. Raised Full-Year 2021 Adjusted Earnings Per Share and Adjusted Free Cash Flow Guidance Our guidance is based on current economic conditions and assumes continued gradual improvement in economic activity through the remainder of 2021. The Company raised its full-year diluted earnings per share guidance and expects to be in a range of$3.65 to$3.69 and adjusted diluted earnings per share is expected to be in a range of$3.74 to$3.79 . Adjusted diluted earnings per share excludes the impact of restructuring charges and accelerated vesting of compensation expense for the transition of our chief executive officer. We believe that the presentation of adjusted diluted earnings per share provides an understanding of operational activities before the financial impact of certain items. We use this measure, and believe investors will find it helpful, in understanding the ongoing performance of our operations separate from items that have a disproportionate impact on our results for a particular period. We have incurred comparable charges, costs and recoveries in prior periods, and similar types of adjustments can reasonably be expected to be recorded in future periods. Our definition of adjusted diluted earnings per share may not be comparable to similarly titled measures presented by other companies. The Company raised its full-year cash provided by operating activities guidance and expects to be in a range of$2,500 million to$2,595 million . Adjusted free cash flow for 2021 is expected to be in a range of$1,350 million to$1,400 million . Adjusted free cash flow consists of cash provided by operating activities, less property and equipment received, which is expected to be in a range of$1,175 million to$1,225 million , plus proceeds from the sale of property and equipment of$15 million and is exclusive of cash paid for restructuring activities of between$10 million to$15 million , net of tax. We believe that presenting adjusted free cash flow guidance provides useful information regarding our recurring cash provided by operating activities after certain expenditures or recoveries. It also demonstrates our ability to execute our financial strategy and is a key metric we use to determine compensation. The presentation of adjusted free cash flow has material limitations. Adjusted free cash flow does not represent our cash flow available for discretionary expenditures because it excludes certain expenditures that are required or to which we have committed, such as debt service requirements and dividend payments. Our definition of adjusted free cash flow may not be comparable to similarly titled measures presented by other companies. Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 99.1 Press release ofRepublic Services, Inc.
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