XML 24 R33.htm IDEA: XBRL DOCUMENT
v3.20.1

Condensed Consolidating Financial Statements (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2020
Condensed Consolidating Financial Statements |
Condensed Consolidating Balance Sheets | CONDENSED CONSOLIDATING BALANCE SHEETS March 31, 2020 (Unaudited)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | WM | ​ | Non-Guarantor | ​ | ​ | ​ | ​ | ​ | ​
​ |  | WM |  | Holdings |  | Subsidiaries |  | Eliminations |  | Consolidated
ASSETS
Current assets: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Cash and cash equivalents | ​ | $ | 3,049 | ​ | $ | — | ​ | $ | 76 | ​ | $ | — | ​ | $ | 3,125
Other current assets | ​ |  | 2 | ​ |  | 4 | ​ |  | 2,504 | ​ |  | — | ​ |  | 2,510
​ | ​ |  | 3,051 | ​ |  | 4 | ​ |  | 2,580 | ​ |  | — | ​ |  | 5,635
Property and equipment, net | ​ |  | — | ​ |  | — | ​ |  | 12,900 | ​ |  | — | ​ |  | 12,900
Investments in affiliates | ​ |  | 26,650 | ​ |  | 27,021 | ​ |  | — | ​ |  | (53,671) | ​ |  | —
Advances to affiliates | ​ |  | — | ​ |  | — | ​ |  | 18,655 | ​ |  | (18,655) | ​ |  | —
Other assets | ​ |  | 5 | ​ |  | 10 | ​ |  | 8,628 | ​ |  | — | ​ |  | 8,643
Total assets | ​ | $ | 29,706 | ​ | $ | 27,035 | ​ | $ | 42,763 | ​ | $ | (72,326) | ​ | $ | 27,178
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
LIABILITIES AND EQUITY
Current liabilities: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Current portion of long-term debt | ​ | $ | 164 | ​ | $ | — | ​ | $ | 223 | ​ | $ | — | ​ | $ | 387
Accounts payable and other current liabilities | ​ |  | 99 | ​ |  | 3 | ​ |  | 2,581 | ​ |  | — | ​ |  | 2,683
​ | ​ |  | 263 | ​ |  | 3 | ​ |  | 2,804 | ​ |  | — | ​ |  | 3,070
Long-term debt, less current portion | ​ |  | 10,589 | ​ |  | 248 | ​ |  | 2,228 | ​ |  | — | ​ |  | 13,065
Due to affiliates | ​ |  | 18,818 | ​ |  | 137 | ​ |  | 6,709 | ​ |  | (25,664) | ​ |  | —
Other liabilities | ​ |  | 2 | ​ |  | — | ​ |  | 4,296 | ​ |  | — | ​ |  | 4,298
Total liabilities | ​ |  | 29,672 | ​ |  | 388 | ​ |  | 16,037 | ​ |  | (25,664) | ​ |  | 20,433
Equity: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Stockholders’ equity | ​ |  | 6,743 | ​ |  | 26,647 | ​ |  | 27,024 | ​ |  | (53,671) | ​ |  | 6,743
Advances to affiliates | ​ |  | (6,709) | ​ |  | — | ​ |  | (300) | ​ |  | 7,009 | ​ |  | —
Noncontrolling interests | ​ |  | — | ​ |  | — | ​ |  | 2 | ​ |  | — | ​ |  | 2
​ | ​ | ​ | 34 | ​ | ​ | 26,647 | ​ | ​ | 26,726 | ​ | ​ | (46,662) | ​ | ​ | 6,745
Total liabilities and equity | ​ | $ | 29,706 | ​ | $ | 27,035 | ​ | $ | 42,763 | ​ | $ | (72,326) | ​ | $ | 27,178
​ CONDENSED CONSOLIDATING BALANCE SHEETS (Continued) December 31, 2019
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | WM | ​ | Non-Guarantor | ​ | ​ | ​ | ​ | ​ | ​
​ |  | WM |  | Holdings |  | Subsidiaries |  | Eliminations |  | Consolidated
ASSETS
Current assets: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Cash and cash equivalents | ​ | $ | 3,485 | ​ | $ | — | ​ | $ | 76 | ​ | $ | — | ​ | $ | 3,561
Other current assets | ​ |  | 2 | ​ |  | 4 | ​ |  | 2,642 | ​ |  | — | ​ |  | 2,648
​ | ​ |  | 3,487 | ​ |  | 4 | ​ |  | 2,718 | ​ |  | — | ​ |  | 6,209
Property and equipment, net | ​ |  | — | ​ |  | — | ​ |  | 12,893 | ​ |  | — | ​ |  | 12,893
Investments in affiliates | ​ |  | 26,221 | ​ |  | 26,673 | ​ |  | — | ​ |  | (52,894) | ​ |  | —
Advances to affiliates | ​ |  | — | ​ |  | — | ​ |  | 19,047 | ​ |  | (19,047) | ​ |  | —
Other assets | ​ |  | 6 | ​ |  | 10 | ​ |  | 8,625 | ​ |  | — | ​ |  | 8,641
Total assets | ​ | $ | 29,714 | ​ | $ | 26,687 | ​ | $ | 43,283 | ​ | $ | (71,941) | ​ | $ | 27,743
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
LIABILITIES AND EQUITY
Current liabilities: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Current portion of long-term debt | ​ | $ | 15 | ​ | $ | — | ​ | $ | 203 | ​ | $ | — | ​ | $ | 218
Accounts payable and other current liabilities | ​ |  | 105 | ​ |  | 7 | ​ |  | 2,814 | ​ |  | — | ​ |  | 2,926
​ | ​ |  | 120 | ​ |  | 7 | ​ |  | 3,017 | ​ |  | — | ​ |  | 3,144
Long-term debt, less current portion | ​ |  | 10,736 | ​ |  | 248 | ​ |  | 2,296 | ​ |  | — | ​ |  | 13,280
Due to affiliates | ​ |  | 19,131 | ​ |  | 214 | ​ |  | 7,345 | ​ |  | (26,690) | ​ |  | —
Other liabilities | ​ |  | 4 | ​ |  | — | ​ |  | 4,245 | ​ |  | — | ​ |  | 4,249
Total liabilities | ​ |  | 29,991 | ​ |  | 469 | ​ |  | 16,903 | ​ |  | (26,690) | ​ |  | 20,673
Equity: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Stockholders’ equity | ​ |  | 7,068 | ​ |  | 26,218 | ​ |  | 26,676 | ​ |  | (52,894) | ​ |  | 7,068
Advances to affiliates | ​ |  | (7,345) | ​ |  | — | ​ |  | (298) | ​ |  | 7,643 | ​ |  | —
Noncontrolling interests | ​ |  | — | ​ |  | — | ​ |  | 2 | ​ |  | — | ​ |  | 2
​ | ​ |  | (277) | ​ |  | 26,218 | ​ |  | 26,380 | ​ |  | (45,251) | ​ |  | 7,070
Total liabilities and equity | ​ | $ | 29,714 | ​ | $ | 26,687 | ​ | $ | 43,283 | ​ | $ | (71,941) | ​ | $ | 27,743
Condensed Consolidating Statements of Operations | CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS Three Months Ended March 31, 2020 (Unaudited)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | WM | ​ | Non‑Guarantor | ​ | ​ | ​ | ​ | ​ | ​
​ |  | WM |  | Holdings |  | Subsidiaries |  | Eliminations |  | Consolidated
Operating revenues | ​ | $ | — | ​ | $ | — | ​ | $ | 3,729 | ​ | $ | — | ​ | $ | 3,729
Costs and expenses | ​ |  | — | ​ |  | — | ​ |  | 3,156 | ​ |  | — | ​ |  | 3,156
Income from operations | ​ |  | — | ​ |  | — | ​ |  | 573 | ​ |  | — | ​ |  | 573
Other income (expense): | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Interest expense, net | ​ |  | (93) | ​ |  | (4) | ​ |  | (15) | ​ |  | — | ​ |  | (112)
Equity in earnings of subsidiaries, net of tax | ​ |  | 429 | ​ |  | 432 | ​ |  | — | ​ |  | (861) | ​ |  | —
Other, net | ​ |  | — | ​ |  | — | ​ |  | (26) | ​ |  | — | ​ |  | (26)
​ | ​ | ​ | 336 | ​ | ​ | 428 | ​ | ​ | (41) | ​ | ​ | (861) | ​ | ​ | (138)
Income before income taxes | ​ |  | 336 | ​ |  | 428 | ​ |  | 532 | ​ |  | (861) | ​ |  | 435
Income tax expense (benefit) | ​ |  | (25) | ​ |  | (1) | ​ |  | 100 | ​ |  | — | ​ |  | 74
Consolidated net income | ​ |  | 361 | ​ |  | 429 | ​ |  | 432 | ​ |  | (861) | ​ |  | 361
Less: Net loss attributable to noncontrolling interests | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Net income attributable to Waste Management, Inc. | ​ | $ | 361 | ​ | $ | 429 | ​ | $ | 432 | ​ | $ | (861) | ​ | $ | 361
​ Three Months Ended March 31, 2019 (Unaudited)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | WM | ​ | Non‑Guarantor | ​ | ​ | ​ | ​ | ​ | ​
​ |  | WM |  | Holdings |  | Subsidiaries |  | Eliminations |  | Consolidated
Operating revenues | ​ | $ | — | ​ | $ | — | ​ | $ | 3,696 | ​ | $ | — | ​ | $ | 3,696
Costs and expenses | ​ |  | — | ​ |  | — | ​ |  | 3,075 | ​ |  | — | ​ |  | 3,075
Income from operations | ​ |  | — | ​ |  | — | ​ |  | 621 | ​ |  | — | ​ |  | 621
Other income (expense): | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Interest expense, net | ​ |  | (80) | ​ |  | (5) | ​ |  | (11) | ​ |  | — | ​ |  | (96)
Equity in earnings of subsidiaries, net of tax | ​ |  | 406 | ​ |  | 413 | ​ |  | — | ​ |  | (819) | ​ |  | —
Other, net | ​ |  | — | ​ |  | (3) | ​ |  | (60) | ​ |  | — | ​ |  | (63)
​ | ​ |  | 326 | ​ |  | 405 | ​ |  | (71) | ​ |  | (819) | ​ |  | (159)
Income before income taxes | ​ |  | 326 | ​ |  | 405 | ​ |  | 550 | ​ |  | (819) | ​ |  | 462
Income tax expense (benefit) | ​ |  | (21) | ​ |  | (1) | ​ |  | 137 | ​ |  | — | ​ |  | 115
Consolidated net income | ​ |  | 347 | ​ |  | 406 | ​ |  | 413 | ​ |  | (819) | ​ |  | 347
Less: Net loss attributable to noncontrolling interests | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Net income attributable to Waste Management, Inc. | ​ | $ | 347 | ​ | $ | 406 | ​ | $ | 413 | ​ | $ | (819) | ​ | $ | 347
​
Condensed Consolidating Statements of Comprehensive Income | CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (Unaudited)
​ ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | WM | ​ | Non-Guarantor | ​ | ​ | ​ | ​ | ​ | ​
​ |  | WM |  | Holdings |  | Subsidiaries |  | Eliminations |  | Consolidated
Three Months Ended March 31: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
2020 |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Comprehensive income | ​ | $ | 363 | ​ | $ | 429 | ​ | $ | 347 | ​ | $ | (861) | ​ | $ | 278
Less: Comprehensive loss attributable to noncontrolling interests | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Comprehensive income attributable to Waste Management, Inc. | ​ | $ | 363 | ​ | $ | 429 | ​ | $ | 347 | ​ | $ | (861) | ​ | $ | 278
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
2019 | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Comprehensive income | ​ | $ | 349 | ​ | $ | 406 | ​ | $ | 445 | ​ | $ | (819) | ​ | $ | 381
Less: Comprehensive loss attributable to noncontrolling interests | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Comprehensive income attributable to Waste Management, Inc. | ​ | $ | 349 | ​ | $ | 406 | ​ | $ | 445 | ​ | $ | (819) | ​ | $ | 381
Condensed Consolidating Statements of Cash Flows | CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Three Months Ended March 31, 2020 (Unaudited)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | WM | ​ | Non-Guarantor | ​ | ​ | ​ | ​ | ​ | ​
​ |  | WM(a) |  | Holdings(a) |  | Subsidiaries(a) |  | Eliminations |  | Consolidated
Cash flows provided by (used in): |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Operating activities | ​ | $ | 17 | ​ | $ | — | ​ | $ | 748 | ​ | $ | — | ​ | $ | 765
Investing activities | ​ |  | — | ​ |  | — | ​ |  | (503) | ​ |  | — | ​ |  | (503)
Financing activities | ​ |  | — | ​ |  | — | ​ |  | (668) | ​ |  | — | ​ |  | (668)
Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents | ​ |  | — | ​ |  | — | ​ |  | (4) | ​ |  | — | ​ |  | (4)
Intercompany activity | ​ |  | (453) | ​ |  | — | ​ |  | 453 | ​ |  | — | ​ |  | —
Increase in cash, cash equivalents and restricted cash and cash equivalents | ​ |  | (436) | ​ |  | — | ​ |  | 26 | ​ |  | — | ​ |  | (410)
Cash, cash equivalents and restricted cash and cash equivalents at beginning of period | ​ |  | 3,485 | ​ |  | — | ​ |  | 162 | ​ |  | — | ​ |  | 3,647
Cash, cash equivalents and restricted cash and cash equivalents at end of period | ​ | $ | 3,049 | ​ | $ | — | ​ | $ | 188 | ​ | $ | — | ​ | $ | 3,237
​ Three Months Ended March 31, 2019 (Unaudited)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | WM | ​ | Non-Guarantor | ​ | ​ | ​ | ​ | ​ | ​
​ |  | WM(a) |  | Holdings(a) |  | Subsidiaries(a) |  | Eliminations |  | Consolidated
Cash flows provided by (used in): |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Operating activities | ​ | $ | — | ​ | $ | — | ​ | $ | 890 | ​ | $ | — | ​ | $ | 890
Investing activities | ​ |  | — | ​ |  | — | ​ |  | (800) | ​ |  | — | ​ |  | (800)
Financing activities | ​ |  | — | ​ |  | — | ​ |  | 42 | ​ |  | — | ​ |  | 42
Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Intercompany activity | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Increase in cash, cash equivalents and restricted cash and cash equivalents | ​ |  | — | ​ |  | — | ​ |  | 132 | ​ |  | — | ​ |  | 132
Cash, cash equivalents and restricted cash and cash equivalents at beginning of period | ​ |  | — | ​ |  | — | ​ |  | 183 | ​ |  | — | ​ |  | 183
Cash, cash equivalents and restricted cash and cash equivalents at end of period | ​ | $ | — | ​ | $ | — | ​ | $ | 315 | ​ | $ | — | ​ | $ | 315
(a) | Cash receipts and payments of WM and WM Holdings are transacted by Non-Guarantor Subsidiaries. Cash, cash equivalents and restricted cash and cash equivalents of WM as of March 31, 2020 include remaining proceeds from our 2019 senior note issuances.
​ ​

X
- Definition Tabular disclosure of condensed statement of comprehensive income (loss) including, but not limited to, statements of comprehensive income (loss) of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
Name: | srt_CondensedStatementOfComprehensiveIncomeTableTextBlock
Namespace Prefix: | srt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
Name: | srt_ScheduleOfCondensedBalanceSheetTableTextBlock
Namespace Prefix: | srt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
Name: | srt_ScheduleOfCondensedCashFlowStatementTableTextBlock
Namespace Prefix: | srt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
Name: | srt_ScheduleOfCondensedIncomeStatementTableTextBlock
Namespace Prefix: | srt_
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