Waste Connections, Inc. New Standards Disclosure

Accounting Standards Adopted

Additional Income Tax Disclosures.  In December 2023, the Financial Accounting Standards Board (the “FASB”) issued a final standard on improvements to income tax disclosures.  The standard requires public business entities to disclose in their rate reconciliation table additional categories of information about federal, state and foreign income taxes and to provide more details about the reconciling items in some categories if the items meet a quantitative threshold.  The guidance also requires all entities to disclose annually income taxes paid (net of refunds received) disaggregated by federal (national), state and foreign taxes and to disaggregate the information by jurisdiction based on a quantitative threshold.  The standard applies to all entities subject to income taxes.  For public business entities, the new requirements are effective for annual periods beginning after December 15, 2024.  The guidance is applied on a prospective basis with the option to apply the standard retrospectively.  The Company adopted the new standard as of January 1, 2025 and has applied this standard prospectively in the financial statements.  The adoption of this standard did not have a material impact on the Company’s consolidated financial statements.  See Note 16 for disclosures related to the adoption of this standard.

Amended Guidance for Credit Losses on Accounts Receivable.  In July 2025, the FASB issued guidance to simplify the estimation of credit losses on current accounts receivable and current contract assets arising from transactions accounted for under Accounting Standards Codification (“ASU”) 606, Revenue from Contracts with Customers.  The amendments allow all entities to use a practical expedient to assume that the current conditions as of the balance sheet date will remain unchanged for the remaining life of the asset when developing a reasonable and supportable forecast as part of estimating expected credit losses on these assets. The amendments are effective for fiscal years beginning after December 15, 2025, and interim periods within those fiscal years. Early adoption is permitted. Entities that elect the practical expedient are required to apply the amendments prospectively.  The Company adopted the new standard as of December 15, 2025 and has applied the standard prospectively.  The adoption of this standard did not have a material impact on the Company’s consolidated financial statements.

Accounting Standards Pending Adoption

Disaggregation of Income Statement Expenses.  In November 2024, the FASB issued a final standard requiring additional disclosure of the nature of expenses included in the income statement.  The standard requires disclosures about specific types of expenses included in the expense captions presented on the face of the statement of operations as well as disclosures about selling expenses.  The standard applies to all public business entities and will be effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods within annual reporting periods beginning after December 15, 2027.  The guidance will be applied on a prospective basis with the option to apply the standard retrospectively.  Early adoption is permitted.  The Company does not expect the adoption of this guidance to have a material impact on its consolidated financial statements.

Amended Guidance for Internal-Use Software.  In September 2025, the FASB issued a final standard to modernize the accounting for costs incurred in developing internal-use software. The standard replaces the legacy stage-based capitalization model with a principles-based approach and clarifies related disclosure requirements. The standard is effective for all entities for fiscal years beginning after December 15, 2027 and interim periods within those fiscal years. The guidance may be applied prospectively, retrospectively or using a modified transition approach. Early adoption is permitted. The Company does not expect the adoption of this standard to have a material impact on its consolidated financial statements.

Interim Disclosure Requirements.  In December 2025, the FASB issued final guidance clarifying the current interim disclosure requirements.  The guidance creates a comprehensive list of interim disclosures required under U.S. generally accepted accounting principles (“GAAP”) and incorporates a disclosure principle that requires disclosures at interim periods when an event or change that has a material effect on an entity has occurred since the previous year end.  The amendments are effective for public business entities for interim reporting periods within annual reporting periods beginning after 15 December 2027.  The guidance may be applied prospectively or retrospectively by all entities that provide interim financial statements and notes in accordance with GAAP.  The Company does not expect the adoption of this guidance to have a material impact on its consolidated financial statements.