XML 49 R28.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Condensed Consolidating Financial Statements | 12 Months Ended
--- | ---
Dec. 31, 2017
Condensed Consolidating Financial Statements |
Condensed Consolidating Financial Statements | 21. Condensed Consolidating Financial Statements WM Holdings has fully and unconditionally guaranteed all of WM’s senior indebtedness. WM has fully and unconditionally guaranteed all of WM Holdings’ senior indebtedness. None of WM’s other subsidiaries have guaranteed any of WM’s or WM Holdings’ debt. As a result of these guarantee arrangements, we are required to present the following condensed consolidating financial information (in millions): CONDENSED CONSOLIDATING BALANCE SHEETS December 31, 2017
|  |  |  |  | WM |  | Non-Guarantor |  |  |  |  |  |
|  | WM |  | Holdings |  | Subsidiaries |  | Eliminations |  | Consolidated
ASSETS
Current assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | — |  | $ | — |  | $ | 22 |  | $ | — |  | $ | 22
Other current assets |  |  | 5 |  |  | 5 |  |  | 2,592 |  |  | — |  |  | 2,602
|  |  | 5 |  |  | 5 |  |  | 2,614 |  |  | — |  |  | 2,624
Property and equipment, net |  |  | — |  |  | — |  |  | 11,559 |  |  | — |  |  | 11,559
Investments in affiliates |  |  | 22,393 |  |  | 22,893 |  |  | — |  |  | (45,286) |  |  | —
Advances to affiliates |  |  | — |  |  | — |  |  | 15,349 |  |  | (15,349) |  |  | —
Other assets |  |  | 9 |  |  | 31 |  |  | 7,606 |  |  | — |  |  | 7,646
Total assets |  | $ | 22,407 |  | $ | 22,929 |  | $ | 37,128 |  | $ | (60,635) |  | $ | 21,829
LIABILITIES AND EQUITY
Current liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current portion of long-term debt |  | $ | 537 |  | $ | — |  | $ | 202 |  | $ | — |  | $ | 739
Accounts payable and other current liabilities |  |  | 55 |  |  | 9 |  |  | 2,459 |  |  | — |  |  | 2,523
|  |  | 592 |  |  | 9 |  |  | 2,661 |  |  | — |  |  | 3,262
Long-term debt, less current portion |  |  | 6,457 |  |  | 304 |  |  | 1,991 |  |  | — |  |  | 8,752
Due to affiliates |  |  | 15,404 |  |  | 224 |  |  | 6,073 |  |  | (21,701) |  |  | —
Other liabilities |  |  | 8 |  |  | — |  |  | 3,765 |  |  | — |  |  | 3,773
Total liabilities |  |  | 22,461 |  |  | 537 |  |  | 14,490 |  |  | (21,701) |  |  | 15,787
Equity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stockholders’ equity |  |  | 6,019 |  |  | 22,392 |  |  | 22,894 |  |  | (45,286) |  |  | 6,019
Advances to affiliates |  |  | (6,073) |  |  | — |  |  | (279) |  |  | 6,352 |  |  | —
Noncontrolling interests |  |  | — |  |  | — |  |  | 23 |  |  | — |  |  | 23
|  |  | (54) |  |  | 22,392 |  |  | 22,638 |  |  | (38,934) |  |  | 6,042
Total liabilities and equity |  | $ | 22,407 |  | $ | 22,929 |  | $ | 37,128 |  | $ | (60,635) |  | $ | 21,829
CONDENSED CONSOLIDATING BALANCE SHEETS (Continued) December 31, 2016
|  |  |  |  | WM |  | Non-Guarantor |  |  |  |  |  |
|  | WM |  | Holdings |  | Subsidiaries |  | Eliminations |  | Consolidated
ASSETS
Current assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | — |  | $ | — |  | $ | 32 |  | $ | — |  | $ | 32
Other current assets |  |  | 5 |  |  | 5 |  |  | 2,334 |  |  | — |  |  | 2,344
|  |  | 5 |  |  | 5 |  |  | 2,366 |  |  | — |  |  | 2,376
Property and equipment, net |  |  | — |  |  | — |  |  | 10,950 |  |  | — |  |  | 10,950
Investments in affiliates |  |  | 19,924 |  |  | 20,331 |  |  | — |  |  | (40,255) |  |  | —
Advances to affiliates |  |  | — |  |  | — |  |  | 13,000 |  |  | (13,000) |  |  | —
Other assets |  |  | 14 |  |  | 30 |  |  | 7,489 |  |  | — |  |  | 7,533
Total assets |  | $ | 19,943 |  | $ | 20,366 |  | $ | 33,805 |  | $ | (53,255) |  | $ | 20,859
LIABILITIES AND EQUITY
Current liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current portion of long-term debt |  | $ | 269 |  | $ | — |  | $ | 148 |  | $ | — |  | $ | 417
Accounts payable and other current liabilities |  |  | 81 |  |  | 9 |  |  | 2,287 |  |  | — |  |  | 2,377
|  |  | 350 |  |  | 9 |  |  | 2,435 |  |  | — |  |  | 2,794
Long-term debt, less current portion |  |  | 6,229 |  |  | 304 |  |  | 2,360 |  |  | — |  |  | 8,893
Due to affiliates |  |  | 13,350 |  |  | 128 |  |  | 5,299 |  |  | (18,777) |  |  | —
Other liabilities |  |  | 16 |  |  | — |  |  | 3,836 |  |  | — |  |  | 3,852
Total liabilities |  |  | 19,945 |  |  | 441 |  |  | 13,930 |  |  | (18,777) |  |  | 15,539
Equity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stockholders’ equity |  |  | 5,297 |  |  | 19,925 |  |  | 20,330 |  |  | (40,255) |  |  | 5,297
Advances to affiliates |  |  | (5,299) |  |  | — |  |  | (478) |  |  | 5,777 |  |  | —
Noncontrolling interests |  |  | — |  |  | — |  |  | 23 |  |  | — |  |  | 23
|  |  | (2) |  |  | 19,925 |  |  | 19,875 |  |  | (34,478) |  |  | 5,320
Total liabilities and equity |  | $ | 19,943 |  | $ | 20,366 |  | $ | 33,805 |  | $ | (53,255) |  | $ | 20,859
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
|  |  |  |  | WM |  | Non-Guarantor |  |  |  |  |  |
|  | WM |  | Holdings |  | Subsidiaries |  | Eliminations |  | Consolidated
Years Ended December 31: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating revenues (a) |  | $ | — |  | $ | — |  | $ | 15,040 |  | $ | (555) |  | $ | 14,485
Costs and expenses (a) |  |  | 555 |  |  | — |  |  | 11,849 |  |  | (555) |  |  | 11,849
Income from operations |  |  | (555) |  |  | — |  |  | 3,191 |  |  | — |  |  | 2,636
Other income (expense): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  | (299) |  |  | (20) |  |  | (44) |  |  | — |  |  | (363)
Loss on early extinguishment of debt |  |  | (6) |  |  | — |  |  | — |  |  | — |  |  | (6)
Equity in earnings of subsidiaries, net of tax |  |  | 2,469 |  |  | 2,482 |  |  | — |  |  | (4,951) |  |  | —
Other, net |  |  | 2 |  |  | (1) |  |  | (77) |  |  | — |  |  | (76)
|  |  | 2,166 |  |  | 2,461 |  |  | (121) |  |  | (4,951) |  |  | (445)
Income before income taxes |  |  | 1,611 |  |  | 2,461 |  |  | 3,070 |  |  | (4,951) |  |  | 2,191
Income tax expense (benefit) |  |  | (338) |  |  | (8) |  |  | 588 |  |  | — |  |  | 242
Consolidated net income |  |  | 1,949 |  |  | 2,469 |  |  | 2,482 |  |  | (4,951) |  |  | 1,949
Less: Net income (loss) attributable to noncontrolling interests |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Net income attributable to Waste Management, Inc. |  | $ | 1,949 |  | $ | 2,469 |  | $ | 2,482 |  | $ | (4,951) |  | $ | 1,949
2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating revenues |  | $ | — |  | $ | — |  | $ | 13,609 |  | $ | — |  | $ | 13,609
Costs and expenses |  |  | — |  |  | — |  |  | 11,313 |  |  | — |  |  | 11,313
Income from operations |  |  | — |  |  | — |  |  | 2,296 |  |  | — |  |  | 2,296
Other income (expense): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  | (303) |  |  | (20) |  |  | (53) |  |  | — |  |  | (376)
Loss on early extinguishment of debt |  |  | (1) |  |  | — |  |  | (3) |  |  | — |  |  | (4)
Equity in earnings of subsidiaries, net of tax |  |  | 1,367 |  |  | 1,381 |  |  | — |  |  | (2,748) |  |  | —
Other, net |  |  | — |  |  | — |  |  | (94) |  |  | — |  |  | (94)
|  |  | 1,063 |  |  | 1,361 |  |  | (150) |  |  | (2,748) |  |  | (474)
Income before income taxes |  |  | 1,063 |  |  | 1,361 |  |  | 2,146 |  |  | (2,748) |  |  | 1,822
Income tax expense (benefit) |  |  | (119) |  |  | (8) |  |  | 769 |  |  | — |  |  | 642
Consolidated net income |  |  | 1,182 |  |  | 1,369 |  |  | 1,377 |  |  | (2,748) |  |  | 1,180
Less: Net income (loss) attributable to noncontrolling interests |  |  | — |  |  | — |  |  | (2) |  |  | — |  |  | (2)
Net income attributable to Waste Management, Inc. |  | $ | 1,182 |  | $ | 1,369 |  | $ | 1,379 |  | $ | (2,748) |  | $ | 1,182
2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating revenues |  | $ | — |  | $ | — |  | $ | 12,961 |  | $ | — |  | $ | 12,961
Costs and expenses |  |  | — |  |  | (1) |  |  | 10,917 |  |  | — |  |  | 10,916
Income from operations |  |  | — |  |  | 1 |  |  | 2,044 |  |  | — |  |  | 2,045
Other income (expense): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  | (298) |  |  | (22) |  |  | (65) |  |  | — |  |  | (385)
Loss on early extinguishment of debt |  |  | (500) |  |  | (52) |  |  | (3) |  |  | — |  |  | (555)
Equity in earnings of subsidiaries, net of tax |  |  | 1,245 |  |  | 1,289 |  |  | — |  |  | (2,534) |  |  | —
Other, net |  |  | — |  |  | — |  |  | (45) |  |  | — |  |  | (45)
|  |  | 447 |  |  | 1,215 |  |  | (113) |  |  | (2,534) |  |  | (985)
Income before income taxes |  |  | 447 |  |  | 1,216 |  |  | 1,931 |  |  | (2,534) |  |  | 1,060
Income tax expense (benefit) |  |  | (306) |  |  | (29) |  |  | 643 |  |  | — |  |  | 308
Consolidated net income |  |  | 753 |  |  | 1,245 |  |  | 1,288 |  |  | (2,534) |  |  | 752
Less: Net income (loss) attributable to noncontrolling interests |  |  | — |  |  | — |  |  | (1) |  |  | — |  |  | (1)
Net income attributable to Waste Management, Inc. |  | $ | 753 |  | $ | 1,245 |  | $ | 1,289 |  | $ | (2,534) |  | $ | 753
| (a) |  | For 2017, costs and expenses for WM and operating revenues for Non-Guarantor Subsidiaries include $555 million related to insurance premiums for a wholly-owned insurance captive, which are eliminated in consolidation.
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME
|  |  |  | WM |  | Non-Guarantor |  |  |  |
|  | WM |  | Holdings |  | Subsidiaries |  | Eliminations |  | Consolidated
Years Ended December 31: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Comprehensive income |  | $ | 1,955 |  | $ | 2,469 |  | $ | 2,564 |  | $ | (4,951) |  | $ | 2,037
Less: Comprehensive income (loss) attributable to noncontrolling interests |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Comprehensive income attributable to Waste Management, Inc. |  | $ | 1,955 |  | $ | 2,469 |  | $ | 2,564 |  | $ | (4,951) |  | $ | 2,037
2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Comprehensive income |  | $ | 1,189 |  | $ | 1,369 |  | $ | 1,417 |  | $ | (2,748) |  | $ | 1,227
Less: Comprehensive income (loss) attributable to noncontrolling interests |  |  | — |  |  | — |  |  | (2) |  |  | — |  |  | (2)
Comprehensive income attributable to Waste Management, Inc. |  | $ | 1,189 |  | $ | 1,369 |  | $ | 1,419 |  | $ | (2,748) |  | $ | 1,229
2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Comprehensive income |  | $ | 762 |  | $ | 1,245 |  | $ | 1,129 |  | $ | (2,534) |  | $ | 602
Less: Comprehensive income (loss) attributable to noncontrolling interests |  |  | — |  |  | — |  |  | (1) |  |  | — |  |  | (1)
Comprehensive income attributable to Waste Management, Inc. |  | $ | 762 |  | $ | 1,245 |  | $ | 1,130 |  | $ | (2,534) |  | $ | 603
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
|  |  |  |  | WM |  | Non-Guarantor |  |  |  |  |  |
|  | WM(a) |  | Holdings(a) |  | Subsidiaries(a) |  | Eliminations |  | Consolidated
Years Ended December 31: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash flows provided by (used in): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating activities |  | $ | — |  | $ | — |  | $ | 3,180 |  | $ | — |  | $ | 3,180
Investing activities |  |  | — |  |  | — |  |  | (1,379) |  |  | — |  |  | (1,379)
Financing activities |  |  | — |  |  | — |  |  | (1,811) |  |  | — |  |  | (1,811)
Effect of exchange rate changes on cash and cash equivalents |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Intercompany activity |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Decrease in cash and cash equivalents |  |  | — |  |  | — |  |  | (10) |  |  | — |  |  | (10)
Cash and cash equivalents at beginning of period |  |  | — |  |  | — |  |  | 32 |  |  | — |  |  | 32
Cash and cash equivalents at end of period |  | $ | — |  | $ | — |  | $ | 22 |  | $ | — |  | $ | 22
2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash flows provided by (used in): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating activities |  | $ | — |  | $ | — |  | $ | 3,006 |  | $ | — |  | $ | 3,006
Investing activities |  |  | — |  |  | — |  |  | (1,932) |  |  | — |  |  | (1,932)
Financing activities |  |  | — |  |  | — |  |  | (1,081) |  |  | — |  |  | (1,081)
Effect of exchange rate changes on cash and cash equivalents |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Intercompany activity |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Decrease in cash and cash equivalents |  |  | — |  |  | — |  |  | (7) |  |  | — |  |  | (7)
Cash and cash equivalents at beginning of period |  |  | — |  |  | — |  |  | 39 |  |  | — |  |  | 39
Cash and cash equivalents at end of period |  | $ | — |  | $ | — |  | $ | 32 |  | $ | — |  | $ | 32
2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash flows provided by (used in): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating activities |  | $ | — |  | $ | — |  | $ | 2,528 |  | $ | — |  | $ | 2,528
Investing activities |  |  | — |  |  | — |  |  | (1,608) |  |  | — |  |  | (1,608)
Financing activities |  |  | — |  |  | — |  |  | (2,185) |  |  | — |  |  | (2,185)
Effect of exchange rate changes on cash and cash equivalents |  |  | — |  |  | — |  |  | (3) |  |  | — |  |  | (3)
Intercompany activity |  |  | (1,235) |  |  | — |  |  | 1,235 |  |  | — |  |  | —
Decrease in cash and cash equivalents |  |  | (1,235) |  |  | — |  |  | (33) |  |  | — |  |  | (1,268)
Cash and cash equivalents at beginning of period |  |  | 1,235 |  |  | — |  |  | 72 |  |  | — |  |  | 1,307
Cash and cash equivalents at end of period |  | $ | — |  | $ | — |  | $ | 39 |  | $ | — |  | $ | 39
| (a) |  | Cash receipts and payments of WM and WM Holdings are transacted by Non-Guarantor Subsidiaries.

X
- Definition The entire disclosure for condensed financial statements. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=84161450&loc=d3e5614-111684 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.10-01(a)) -URI http://asc.fasb.org/extlink&oid=27015980&loc=d3e46468-122699 + Details
Name: | us-gaap_CondensedFinancialStatementsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | wm_CondensedFinancialInformationDisclosureAbstract
Namespace Prefix: | wm_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration