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Condensed Consolidating Financial Statements (Tables) | 12 Months Ended
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Dec. 31, 2017
Condensed Consolidating Financial Statements |
Condensed Consolidating Balance Sheets | 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 | 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 | 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 | 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
Cash receipts and payments of WM and WM Holdings are transacted by Non-Guarantor Subsidiaries.

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