<SUBMISSION>
<ACCESSION-NUMBER>0000950129-04-007857
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>1
<PERIOD>20041015
<ITEMS>1.01
<FILING-DATE>20041019
<DATE-OF-FILING-DATE-CHANGE>20041018
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>WASTE MANAGEMENT INC
<CIK>0000823768
<ASSIGNED-SIC>4953
<IRS-NUMBER>731309529
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>001-12154
<FILM-NUMBER>041084045
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>1001 FANNIN STREET
<STREET2>STE 4000
<CITY>HOUSTON
<STATE>TX
<ZIP>77002
<PHONE>7135126200
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>1001 FANNIN STREET
<STREET2>SUITE 4000
<CITY>HOUSTON
<STATE>TX
<ZIP>77002
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>USA WASTE SERVICES INC
<DATE-CHANGED>19920703
</FORMER-COMPANY>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>h19192e8vk.htm
<DESCRIPTION>WASTE MANAGEMENT, INC. - DATED OCTOBER 15, 2004
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<P align="center" style="font-size: 14pt"><B>SECURITIES AND EXCHANGE COMMISSION</B>

<DIV align="center" style="font-size: 12pt"><B>WASHINGTON, DC 20549</B>
</DIV>


<P align="center" style="font-size: 10pt"><B>_________</B>


<P align="center" style="font-size: 18pt"><B>FORM 8-K</B>


<P align="center" style="font-size: 10pt"><B>_________</B>


<P align="center" style="font-size: 12pt"><B>CURRENT REPORT</B>


<P align="center" style="font-size: 10pt"><B>Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934</B>



<P align="center" style="font-size: 10pt"><B>Date of Report (Date of earliest event reported): </B>October&nbsp;15, 2004


<P align="center" style="font-size: 24pt"><B>Waste Management, Inc.</B>

<DIV align="center" style="font-size: 10pt"><B>(Exact Name of Registrant as Specified in Charter)</B></DIV>

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    <TD align="center" valign="top">Delaware<BR>
<B>(State or Other Jurisdiction of Incorporation)</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">1-12154<BR>
<B>(Commission File Number)</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">73-1309529<BR>
<B>(IRS Employer Identification No.)</B></TD>
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    <TD align="center" valign="top">1001 Fannin, Suite&nbsp;4000 Houston, Texas<BR>
<B>(Address of Principal Executive Offices)</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">77002<BR>
<B>(Zip Code)</B></TD>
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<P align="center" style="font-size: 10pt"><B>Registrant&#146;s Telephone number, including area code: </B>(713)&nbsp;512-6200

<P>
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<B>(Former Name or Former Address, if Changed Since Last Report)</B>
</DIV>

<P align="left" style="font-size: 10pt">Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:

<P align="left" style="font-size: 10pt"><FONT face="Wingdings">&#111;</FONT> Written communications pursuant to Rule&nbsp;425 under the Securities Act (17
CFR 230.425)

<P align="left" style="font-size: 10pt"><FONT face="Wingdings">&#111;</FONT> Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR
240.14a-12)

<P align="left" style="font-size: 10pt"><FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))

<P align="left" style="font-size: 10pt"><FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))


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<TR><TD colspan="9"><A HREF="#000">Item&nbsp;1.01 Entry into a Material Definitive Agreement</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001">SIGNATURES</A></TD></TR>
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<P align="left" style="font-size: 10pt"><B>Item&nbsp;1.01 Entry into a Material Definitive Agreement</B>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On October&nbsp;15, 2004, Waste Management, Inc. (the &#147;Company&#148;) entered into a
new five-year, $2.4&nbsp;billion revolving credit facility (the &#147;New Facility&#148;) with
Citibank, N.A. as Administrative Agent, JPMorgan Chase Bank and Bank of
America, N.A. as Syndication Agents, Barclays Bank PLC and Deutsche Bank AG as
Documentation Agents, J.P. Morgan Securities Inc. and Banc of America
Securities LLC as Lead Arrangers and Book Managers and a syndicate of other
banks. Waste Management Holdings, Inc., a wholly-owned
subsidiary of the Company, has guaranteed all of the Company&#146;s obligations
under the New Facility. The New Facility replaces the Company&#146;s three-year
$650&nbsp;million revolving credit agreement and five-year $1.75&nbsp;billion revolving
credit agreement, which would have expired in 2005 and 2006, respectively (the &#147;Old
Facilities&#148;).


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any borrowings under the New Facility will bear interest, at the Company&#146;s
option, at either a Eurodollar rate plus a spread ranging from 0.275% to 1.125%
or at a base rate plus a spread of up to 0.2%, with such spread depending in
each case on the ratings by Moody&#146;s and Standard &#038; Poor&#146;s of the Company&#146;s
public senior debt. At closing of the New Facility, there were no borrowings
outstanding under the Old Facilities; however, approximately $1.4&nbsp;billion
letters of credit supported by the Old Facilities were outstanding, all of
which are now supported by the New Facility.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The New Facility contains customary representations and warranties and
affirmative and negative covenants. The New Facility requires the Company to
maintain a minimum interest coverage ratio and a maximum total debt to EBITDA
ratio. The interest coverage covenant requires that the ratio of the Company&#146;s
EBIT for the preceding four fiscal quarters to its consolidated total interest
expense for such period shall not be less than 2.75 to 1. The total debt
covenant requires that the ratio of the Company&#146;s total debt to its EBITDA for
the preceding four fiscal quarters will not be more than 3.5 to 1. The
calculation of all components used in the covenants are as defined in the New
Facility. The New Facility contains certain restrictions on the ability of the
Company&#146;s subsidiaries to incur additional indebtedness as well as restrictions
on the ability of the Company and its subsidiaries to, among other things,
incur liens; engage in sale-leaseback transactions; make certain investments;
engage in mergers and consolidations and dispose of assets.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The New Facility contains customary events of default, including
nonpayment of principal when due; nonpayment of interest, fees or other amounts
after stated grace period; inaccuracy of representations and warranties;
violations of covenants, subject in certain cases to negotiated grace periods;
certain bankruptcies and liquidations; any cross-default of more than $50
million; certain judgments of more than $25&nbsp;million; certain ERISA-related
events; and a change in control (as defined in the agreement) of the Company.
If an event of default occurs and is continuing, the Company may be required to
repay all amounts outstanding under the New Facility and cash-collateralize any
outstanding letters of credit supported by the New Facility. Banks that hold
more than 50% of the commitments under the New Facility may elect to accelerate
the maturity of all amounts due upon the occurrence and during the continuation
of an event of default.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Several of the banks that are party to the New Facility have in the past
performed, and may in the future from time to time perform, investment banking,
financial advisory, lending and/or commercial banking services for the Company
and its subsidiaries, for which they have received, and may in the future
receive, customary compensation and reimbursement of expenses.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<P align="center" style="font-size: 10pt"><B>SIGNATURES</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has caused this report to be signed on its behalf by the
undersigned, hereunto duly authorized.

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    <TD valign="top">&nbsp;</TD>
    <TD colspan="3">WASTE MANAGEMENT, INC.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>Date: October 19, 2004&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">/s/ Cherie C. Rice
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">Cherie C. Rice&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">Vice President -- Finance and
Treasurer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
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    <TD colspan="5">&nbsp;</TD>
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