Condensed Consolidating Financial Statements (Tables)
|
9 Months Ended |
Sep. 30, 2015 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
|
Condensed Consolidating Balance Sheets |
CONDENSED CONSOLIDATING BALANCE SHEETS
September 30, 2015
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
WM |
|
|
WM
Holdings |
|
|
Non-Guarantor
Subsidiaries |
|
|
Eliminations |
|
|
Consolidated |
|
ASSETS |
|
Current
assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
113 |
|
|
$ |
— |
|
|
$ |
113 |
|
Other current
assets
|
|
|
3 |
|
|
|
6 |
|
|
|
2,277 |
|
|
|
— |
|
|
|
2,286 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3 |
|
|
|
6 |
|
|
|
2,390 |
|
|
|
— |
|
|
|
2,399 |
|
Property and equipment,
net
|
|
|
— |
|
|
|
— |
|
|
|
10,659 |
|
|
|
— |
|
|
|
10,659 |
|
Investments in and
advances to affiliates
|
|
|
18,241 |
|
|
|
18,632 |
|
|
|
7,230 |
|
|
|
(44,103 |
) |
|
|
— |
|
Other assets
|
|
|
57 |
|
|
|
29 |
|
|
|
7,258 |
|
|
|
— |
|
|
|
7,344 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets
|
|
$ |
18,301 |
|
|
$ |
18,667 |
|
|
$ |
27,537 |
|
|
$ |
(44,103 |
) |
|
$ |
20,402 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND
EQUITY |
|
Current
liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current portion of
long-term debt
|
|
$ |
14 |
|
|
$ |
— |
|
|
$ |
201 |
|
|
$ |
— |
|
|
$ |
215 |
|
Accounts payable and
other current liabilities
|
|
|
59 |
|
|
|
4 |
|
|
|
2,164 |
|
|
|
— |
|
|
|
2,227 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
73 |
|
|
|
4 |
|
|
|
2,365 |
|
|
|
— |
|
|
|
2,442 |
|
Long-term debt, less
current portion
|
|
|
5,856 |
|
|
|
304 |
|
|
|
2,675 |
|
|
|
— |
|
|
|
8,835 |
|
Due to
affiliates
|
|
|
7,112 |
|
|
|
118 |
|
|
|
— |
|
|
|
(7,230 |
) |
|
|
— |
|
Other
liabilities
|
|
|
25 |
|
|
|
— |
|
|
|
3,843 |
|
|
|
— |
|
|
|
3,868 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
liabilities
|
|
|
13,066 |
|
|
|
426 |
|
|
|
8,883 |
|
|
|
(7,230 |
) |
|
|
15,145 |
|
Equity:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stockholders’
equity
|
|
|
5,235 |
|
|
|
18,241 |
|
|
|
18,632 |
|
|
|
(36,873 |
) |
|
|
5,235 |
|
Noncontrolling
interests
|
|
|
— |
|
|
|
— |
|
|
|
22 |
|
|
|
— |
|
|
|
22 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,235 |
|
|
|
18,241 |
|
|
|
18,654 |
|
|
|
(36,873 |
) |
|
|
5,257 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total liabilities and
equity
|
|
$ |
18,301 |
|
|
$ |
18,667 |
|
|
$ |
27,537 |
|
|
$ |
(44,103 |
) |
|
$ |
20,402 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONDENSED CONSOLIDATING BALANCE SHEETS
(Continued)
December 31, 2014
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
WM |
|
|
WM
Holdings |
|
|
Non-Guarantor
Subsidiaries |
|
|
Eliminations |
|
|
Consolidated |
|
ASSETS |
|
Current
assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
$ |
1,235 |
|
|
$ |
— |
|
|
$ |
72 |
|
|
$ |
— |
|
|
$ |
1,307 |
|
Other current
assets
|
|
|
5 |
|
|
|
6 |
|
|
|
2,323 |
|
|
|
— |
|
|
|
2,334 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,240 |
|
|
|
6 |
|
|
|
2,395 |
|
|
|
— |
|
|
|
3,641 |
|
Property and equipment,
net
|
|
|
— |
|
|
|
— |
|
|
|
10,657 |
|
|
|
— |
|
|
|
10,657 |
|
Investments in and
advances to affiliates
|
|
|
17,312 |
|
|
|
17,782 |
|
|
|
6,745 |
|
|
|
(41,839 |
) |
|
|
— |
|
Other assets
|
|
|
50 |
|
|
|
28 |
|
|
|
7,036 |
|
|
|
— |
|
|
|
7,114 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets
|
|
$ |
18,602 |
|
|
$ |
17,816 |
|
|
$ |
26,833 |
|
|
$ |
(41,839 |
) |
|
$ |
21,412 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND
EQUITY |
|
Current
liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current portion of
long-term debt
|
|
$ |
957 |
|
|
$ |
— |
|
|
$ |
133 |
|
|
$ |
— |
|
|
$ |
1,090 |
|
Accounts payable and
other current liabilities
|
|
|
86 |
|
|
|
13 |
|
|
|
2,296 |
|
|
|
— |
|
|
|
2,395 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,043 |
|
|
|
13 |
|
|
|
2,429 |
|
|
|
— |
|
|
|
3,485 |
|
Long-term debt, less
current portion
|
|
|
4,958 |
|
|
|
449 |
|
|
|
2,938 |
|
|
|
— |
|
|
|
8,345 |
|
Due to
affiliates
|
|
|
6,703 |
|
|
|
42 |
|
|
|
— |
|
|
|
(6,745 |
) |
|
|
— |
|
Other
liabilities
|
|
|
32 |
|
|
|
— |
|
|
|
3,661 |
|
|
|
— |
|
|
|
3,693 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
liabilities
|
|
|
12,736 |
|
|
|
504 |
|
|
|
9,028 |
|
|
|
(6,745 |
) |
|
|
15,523 |
|
Equity:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stockholders’
equity
|
|
|
5,866 |
|
|
|
17,312 |
|
|
|
17,782 |
|
|
|
(35,094 |
) |
|
|
5,866 |
|
Noncontrolling
interests
|
|
|
— |
|
|
|
— |
|
|
|
23 |
|
|
|
— |
|
|
|
23 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,866 |
|
|
|
17,312 |
|
|
|
17,805 |
|
|
|
(35,094 |
) |
|
|
5,889 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total liabilities and
equity
|
|
$ |
18,602 |
|
|
$ |
17,816 |
|
|
$ |
26,833 |
|
|
$ |
(41,839 |
) |
|
$ |
21,412 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statements of Operations |
CONDENSED CONSOLIDATING STATEMENTS OF
OPERATIONS
Three Months Ended September 30, 2015
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
WM |
|
|
WM
Holdings |
|
|
Non-Guarantor
Subsidiaries |
|
|
Eliminations |
|
|
Consolidated |
|
Operating
revenues
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
3,360 |
|
|
$ |
— |
|
|
$ |
3,360 |
|
Costs and
expenses
|
|
|
— |
|
|
|
— |
|
|
|
2,759 |
|
|
|
— |
|
|
|
2,759 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from
operations
|
|
|
— |
|
|
|
— |
|
|
|
601 |
|
|
|
— |
|
|
|
601 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other income
(expense):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense,
net
|
|
|
(72 |
) |
|
|
(5 |
) |
|
|
(18 |
) |
|
|
— |
|
|
|
(95 |
) |
Loss on early
extinguishment of debt
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Equity in earnings of
subsidiaries, net of taxes
|
|
|
378 |
|
|
|
381 |
|
|
|
— |
|
|
|
(759 |
) |
|
|
— |
|
Other, net
|
|
|
— |
|
|
|
— |
|
|
|
(10 |
) |
|
|
— |
|
|
|
(10 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
306 |
|
|
|
376 |
|
|
|
(28 |
) |
|
|
(759 |
) |
|
|
(105 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) before
income taxes
|
|
|
306 |
|
|
|
376 |
|
|
|
573 |
|
|
|
(759 |
) |
|
|
496 |
|
Provision for (benefit
from) income taxes
|
|
|
(29 |
) |
|
|
(2 |
) |
|
|
190 |
|
|
|
— |
|
|
|
159 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated net income
(loss)
|
|
|
335 |
|
|
|
378 |
|
|
|
383 |
|
|
|
(759 |
) |
|
|
337 |
|
Less: Net income (loss)
attributable to noncontrolling interests
|
|
|
— |
|
|
|
— |
|
|
|
2 |
|
|
|
— |
|
|
|
2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss)
attributable to Waste Management, Inc.
|
|
$ |
335 |
|
|
$ |
378 |
|
|
$ |
381 |
|
|
$ |
(759 |
) |
|
$ |
335 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, 2014
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
WM |
|
|
WM
Holdings |
|
|
Non-Guarantor
Subsidiaries |
|
|
Eliminations |
|
|
Consolidated |
|
Operating
revenues
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
3,602 |
|
|
$ |
— |
|
|
$ |
3,602 |
|
Costs and
expenses
|
|
|
— |
|
|
|
— |
|
|
|
3,056 |
|
|
|
— |
|
|
|
3,056 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from
operations
|
|
|
— |
|
|
|
— |
|
|
|
546 |
|
|
|
— |
|
|
|
546 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other income
(expense):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense,
net
|
|
|
(89 |
) |
|
|
(8 |
) |
|
|
(19 |
) |
|
|
— |
|
|
|
(116 |
) |
Equity in earnings of
subsidiaries, net of taxes
|
|
|
324 |
|
|
|
329 |
|
|
|
— |
|
|
|
(653 |
) |
|
|
— |
|
Other, net
|
|
|
— |
|
|
|
— |
|
|
|
(16 |
) |
|
|
— |
|
|
|
(16 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
235 |
|
|
|
321 |
|
|
|
(35 |
) |
|
|
(653 |
) |
|
|
(132 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) before
income taxes
|
|
|
235 |
|
|
|
321 |
|
|
|
511 |
|
|
|
(653 |
) |
|
|
414 |
|
Provision for (benefit
from) income taxes
|
|
|
(35 |
) |
|
|
(3 |
) |
|
|
171 |
|
|
|
— |
|
|
|
133 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated net income
(loss)
|
|
|
270 |
|
|
|
324 |
|
|
|
340 |
|
|
|
(653 |
) |
|
|
281 |
|
Less: Net income (loss)
attributable to noncontrolling interests
|
|
|
— |
|
|
|
— |
|
|
|
11 |
|
|
|
— |
|
|
|
11 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss)
attributable to Waste Management, Inc.
|
|
$ |
270 |
|
|
$ |
324 |
|
|
$ |
329 |
|
|
$ |
(653 |
) |
|
$ |
270 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
(Continued)
Nine Months Ended September 30, 2015
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
WM |
|
|
WM
Holdings |
|
|
Non-Guarantor
Subsidiaries |
|
|
Eliminations |
|
|
Consolidated |
|
Operating
revenues
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
9,715 |
|
|
$ |
— |
|
|
$ |
9,715 |
|
Costs and
expenses
|
|
|
— |
|
|
|
— |
|
|
|
8,172 |
|
|
|
— |
|
|
|
8,172 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from
operations
|
|
|
— |
|
|
|
— |
|
|
|
1,543 |
|
|
|
— |
|
|
|
1,543 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other income
(expense):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense,
net
|
|
|
(226 |
) |
|
|
(17 |
) |
|
|
(51 |
) |
|
|
— |
|
|
|
(294 |
) |
Loss on early
extinguishment of debt
|
|
|
(500 |
) |
|
|
(52 |
) |
|
|
— |
|
|
|
— |
|
|
|
(552 |
) |
Equity in earnings of
subsidiaries, net of taxes
|
|
|
929 |
|
|
|
971 |
|
|
|
— |
|
|
|
(1,900 |
) |
|
|
— |
|
Other, net
|
|
|
— |
|
|
|
— |
|
|
|
(34 |
) |
|
|
— |
|
|
|
(34 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
203 |
|
|
|
902 |
|
|
|
(85 |
) |
|
|
(1,900 |
) |
|
|
(880 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) before
income taxes
|
|
|
203 |
|
|
|
902 |
|
|
|
1,458 |
|
|
|
(1,900 |
) |
|
|
663 |
|
Provision for (benefit
from) income taxes
|
|
|
(277 |
) |
|
|
(27 |
) |
|
|
488 |
|
|
|
— |
|
|
|
184 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated net income
(loss)
|
|
|
480 |
|
|
|
929 |
|
|
|
970 |
|
|
|
(1,900 |
) |
|
|
479 |
|
Less: Net income (loss)
attributable to noncontrolling interests
|
|
|
— |
|
|
|
— |
|
|
|
(1 |
) |
|
|
— |
|
|
|
(1 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss)
attributable to Waste Management, Inc.
|
|
$ |
480 |
|
|
$ |
929 |
|
|
$ |
971 |
|
|
$ |
(1,900 |
) |
|
$ |
480 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended September 30, 2014
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
WM |
|
|
WM
Holdings |
|
|
Non-Guarantor
Subsidiaries |
|
|
Eliminations |
|
|
Consolidated |
|
Operating
revenues
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
10,559 |
|
|
$ |
— |
|
|
$ |
10,559 |
|
Costs and
expenses
|
|
|
— |
|
|
|
(34 |
) |
|
|
9,046 |
|
|
|
— |
|
|
|
9,012 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from
operations
|
|
|
— |
|
|
|
34 |
|
|
|
1,513 |
|
|
|
— |
|
|
|
1,547 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other income
(expense):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense,
net
|
|
|
(263 |
) |
|
|
(24 |
) |
|
|
(65 |
) |
|
|
— |
|
|
|
(352 |
) |
Equity in earnings of
subsidiaries, net of taxes
|
|
|
867 |
|
|
|
848 |
|
|
|
— |
|
|
|
(1,715 |
) |
|
|
— |
|
Other, net
|
|
|
— |
|
|
|
— |
|
|
|
(43 |
) |
|
|
— |
|
|
|
(43 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
604 |
|
|
|
824 |
|
|
|
(108 |
) |
|
|
(1,715 |
) |
|
|
(395 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) before
income taxes
|
|
|
604 |
|
|
|
858 |
|
|
|
1,405 |
|
|
|
(1,715 |
) |
|
|
1,152 |
|
Provision for (benefit
from) income taxes
|
|
|
(104 |
) |
|
|
(9 |
) |
|
|
525 |
|
|
|
— |
|
|
|
412 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated net income
(loss)
|
|
|
708 |
|
|
|
867 |
|
|
|
880 |
|
|
|
(1,715 |
) |
|
|
740 |
|
Less: Net income (loss)
attributable to noncontrolling interests
|
|
|
— |
|
|
|
— |
|
|
|
32 |
|
|
|
— |
|
|
|
32 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss)
attributable to Waste Management, Inc.
|
|
$ |
708 |
|
|
$ |
867 |
|
|
$ |
848 |
|
|
$ |
(1,715 |
) |
|
$ |
708 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statements of Comprehensive Income |
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE
INCOME
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
WM |
|
|
WM
Holdings |
|
|
Non-Guarantor
Subsidiaries |
|
|
Eliminations |
|
|
Consolidated |
|
Three Months Ended
September 30, 2015
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income
(loss)
|
|
$ |
336 |
|
|
$ |
378 |
|
|
$ |
325 |
|
|
$ |
(759 |
) |
|
$ |
280 |
|
Less: Comprehensive
income (loss) attributable to noncontrolling interests
|
|
|
— |
|
|
|
— |
|
|
|
2 |
|
|
|
— |
|
|
|
2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income
(loss) attributable to Waste Management, Inc.
|
|
$ |
336 |
|
|
$ |
378 |
|
|
$ |
323 |
|
|
$ |
(759 |
) |
|
$ |
278 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
September 30, 2014
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income
(loss)
|
|
$ |
271 |
|
|
$ |
324 |
|
|
$ |
281 |
|
|
$ |
(653 |
) |
|
$ |
223 |
|
Less: Comprehensive
income (loss) attributable to noncontrolling interests
|
|
|
— |
|
|
|
— |
|
|
|
11 |
|
|
|
— |
|
|
|
11 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income
(loss) attributable to Waste Management, Inc.
|
|
$ |
271 |
|
|
$ |
324 |
|
|
$ |
270 |
|
|
$ |
(653 |
) |
|
$ |
212 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
WM |
|
|
WM
Holdings |
|
|
Non-Guarantor
Subsidiaries |
|
|
Eliminations |
|
|
Consolidated |
|
Nine Months Ended
September 30, 2015
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income
(loss)
|
|
$ |
487 |
|
|
$ |
929 |
|
|
$ |
849 |
|
|
$ |
(1,900 |
) |
|
$ |
365 |
|
Less: Comprehensive
income (loss) attributable to noncontrolling interests
|
|
|
— |
|
|
|
— |
|
|
|
(1 |
) |
|
|
— |
|
|
|
(1 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income
(loss) attributable to Waste Management, Inc.
|
|
$ |
487 |
|
|
$ |
929 |
|
|
$ |
850 |
|
|
$ |
(1,900 |
) |
|
$ |
366 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended
September 30, 2014
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income
(loss)
|
|
$ |
708 |
|
|
$ |
867 |
|
|
$ |
803 |
|
|
$ |
(1,715 |
) |
|
$ |
663 |
|
Less: Comprehensive
income (loss) attributable to noncontrolling interests
|
|
|
— |
|
|
|
— |
|
|
|
32 |
|
|
|
— |
|
|
|
32 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income
(loss) attributable to Waste Management, Inc.
|
|
$ |
708 |
|
|
$ |
867 |
|
|
$ |
771 |
|
|
$ |
(1,715 |
) |
|
$ |
631 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Condensed Consolidating Statements of Cash Flows |
CONDENSED CONSOLIDATING STATEMENTS OF CASH
FLOWS
Nine Months Ended September 30, 2015
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
WM |
|
|
WM
Holdings |
|
|
Non-Guarantor
Subsidiaries |
|
|
Eliminations |
|
|
Consolidated |
|
Cash flows from operating
activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated net income
(loss)
|
|
$ |
480 |
|
|
$ |
929 |
|
|
$ |
970 |
|
|
$ |
(1,900 |
) |
|
$ |
479 |
|
Equity in earnings of
subsidiaries, net of taxes
|
|
|
(929 |
) |
|
|
(971 |
) |
|
|
— |
|
|
|
1,900 |
|
|
|
— |
|
Other
adjustments
|
|
|
(17 |
) |
|
|
(11 |
) |
|
|
1,521 |
|
|
|
— |
|
|
|
1,493 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by
(used in) operating activities
|
|
|
(466 |
) |
|
|
(53 |
) |
|
|
2,491 |
|
|
|
— |
|
|
|
1,972 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing
activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Acquisitions of
businesses, net of cash acquired
|
|
|
— |
|
|
|
— |
|
|
|
(473 |
) |
|
|
— |
|
|
|
(473 |
) |
Capital
expenditures
|
|
|
— |
|
|
|
— |
|
|
|
(864 |
) |
|
|
— |
|
|
|
(864 |
) |
Proceeds from
divestitures of businesses and other assets (net of cash
divested)
|
|
|
— |
|
|
|
— |
|
|
|
114 |
|
|
|
— |
|
|
|
114 |
|
Net receipts from
restricted trust and escrow accounts and other, net
|
|
|
— |
|
|
|
— |
|
|
|
42 |
|
|
|
— |
|
|
|
42 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by
(used in) investing activities
|
|
|
— |
|
|
|
— |
|
|
|
(1,181 |
) |
|
|
— |
|
|
|
(1,181 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flows from financing
activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New borrowings
|
|
|
1,781 |
|
|
|
— |
|
|
|
279 |
|
|
|
— |
|
|
|
2,060 |
|
Debt
repayments
|
|
|
(1,825 |
) |
|
|
(145 |
) |
|
|
(451 |
) |
|
|
— |
|
|
|
(2,421 |
) |
Premiums paid on early
extinguishment of debt
|
|
|
(503 |
) |
|
|
(52 |
) |
|
|
— |
|
|
|
— |
|
|
|
(555 |
) |
Common stock
repurchases
|
|
|
(600 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(600 |
) |
Cash dividends
|
|
|
(523 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(523 |
) |
Exercise of common stock
options
|
|
|
53 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
53 |
|
Distributions paid to
noncontrolling interests and other
|
|
|
5 |
|
|
|
— |
|
|
|
(2 |
) |
|
|
— |
|
|
|
3 |
|
(Increase) decrease in
intercompany and investments, net
|
|
|
843 |
|
|
|
250 |
|
|
|
(1,093 |
) |
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by
(used in) financing activities
|
|
|
(769 |
) |
|
|
53 |
|
|
|
(1,267 |
) |
|
|
— |
|
|
|
(1,983 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effect of exchange rate
changes on cash and cash equivalents
|
|
|
— |
|
|
|
— |
|
|
|
(2 |
) |
|
|
— |
|
|
|
(2 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Increase (decrease) in
cash and cash equivalents
|
|
|
(1,235 |
) |
|
|
— |
|
|
|
41 |
|
|
|
— |
|
|
|
(1,194 |
) |
Cash and cash equivalents
at beginning of period
|
|
|
1,235 |
|
|
|
— |
|
|
|
72 |
|
|
|
— |
|
|
|
1,307 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
at end of period
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
113 |
|
|
$ |
— |
|
|
$ |
113 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
(Continued)
Nine Months Ended September 30, 2014
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
WM |
|
|
WM
Holdings |
|
|
Non-Guarantor
Subsidiaries |
|
|
Eliminations |
|
|
Consolidated |
|
Cash flows from operating
activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated net income
(loss)
|
|
$ |
708 |
|
|
$ |
867 |
|
|
$ |
880 |
|
|
$ |
(1,715 |
) |
|
$ |
740 |
|
Equity in earnings of
subsidiaries, net of taxes
|
|
|
(867 |
) |
|
|
(848 |
) |
|
|
— |
|
|
|
1,715 |
|
|
|
— |
|
Other
adjustments
|
|
|
(46 |
) |
|
|
(8 |
) |
|
|
1,125 |
|
|
|
— |
|
|
|
1,071 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by
(used in) operating activities
|
|
|
(205 |
) |
|
|
11 |
|
|
|
2,005 |
|
|
|
— |
|
|
|
1,811 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing
activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Acquisitions of
businesses, net of cash acquired
|
|
|
— |
|
|
|
— |
|
|
|
(32 |
) |
|
|
— |
|
|
|
(32 |
) |
Capital
expenditures
|
|
|
— |
|
|
|
— |
|
|
|
(781 |
) |
|
|
— |
|
|
|
(781 |
) |
Proceeds from
divestitures of businesses and other assets (net of cash
divested)
|
|
|
— |
|
|
|
42 |
|
|
|
277 |
|
|
|
— |
|
|
|
319 |
|
Net receipts from
restricted trust and escrow accounts and other, net
|
|
|
— |
|
|
|
— |
|
|
|
(82 |
) |
|
|
— |
|
|
|
(82 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by
(used in) investing activities
|
|
|
— |
|
|
|
42 |
|
|
|
(618 |
) |
|
|
— |
|
|
|
(576 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flows from financing
activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New borrowings
|
|
|
2,157 |
|
|
|
— |
|
|
|
207 |
|
|
|
— |
|
|
|
2,364 |
|
Debt
repayments
|
|
|
(1,995 |
) |
|
|
— |
|
|
|
(397 |
) |
|
|
— |
|
|
|
(2,392 |
) |
Common stock
repurchases
|
|
|
(600 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(600 |
) |
Cash dividends
|
|
|
(521 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(521 |
) |
Exercise of common stock
options
|
|
|
70 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
70 |
|
Distributions paid to
noncontrolling interests and other
|
|
|
3 |
|
|
|
— |
|
|
|
(31 |
) |
|
|
— |
|
|
|
(28 |
) |
(Increase) decrease in
intercompany and investments, net
|
|
|
1,091 |
|
|
|
(53 |
) |
|
|
(1,038 |
) |
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by
(used in) financing activities
|
|
|
205 |
|
|
|
(53 |
) |
|
|
(1,259 |
) |
|
|
— |
|
|
|
(1,107 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effect of exchange rate
changes on cash and cash equivalents
|
|
|
— |
|
|
|
— |
|
|
|
(3 |
) |
|
|
— |
|
|
|
(3 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Increase (decrease) in
cash and cash equivalents
|
|
|
— |
|
|
|
— |
|
|
|
125 |
|
|
|
— |
|
|
|
125 |
|
Cash and cash equivalents
at beginning of period
|
|
|
— |
|
|
|
— |
|
|
|
58 |
|
|
|
— |
|
|
|
58 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
at end of period
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
183 |
|
|
$ |
— |
|
|
$ |
183 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|