text: **REPUBLIC SERVICES, INC. AND SUBSIDIARIES**
  
  **NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**
  **(All tables in millions, except per share data) Ì (Continued)**
  
  **Years Ended December 31,**
  **2003** **2004** **2002**
  
  Weighted-average fair value of the Company's stock options, 
  restricted stock and stock units granted during the period ÏÏÏ  $  9.33  $  7.64  $  7.47 
  
  Assumptions Ì 
  
  3.6%  3.2%  2.7% 
  
  5 years  5 years  5 years 
  
  30.0% 
  .9%  40.0% 
  Ì  40.0% 
  Ì 
  
  **Revenue Recognition and Deferred Revenue**
  
  The Company generally provides services under contracts with municipalities or individual customers. 
  Revenue consists primarily of collection fees from commercial, industrial, residential and municipal customers 
  and transfer and landÑll disposal fees charged to third parties. Advance billings are recorded as deferred 
  revenue, and the revenue is then recognized over the period services are provided. Collection, transfer and 
  disposal, and other services accounted for approximately 74.3%, 18.9% and 6.8%, respectively, of consolidated 
  revenue for the year ended December 31, 2004. No one customer has individually accounted for more than 
  10% of the Company's consolidated revenues or of the Company's reportable segment revenue in any of the 
  past three years. 