XML 71 R46.htm IDEA: XBRL DOCUMENT v3.20.4

Acquisitions and Divestitures (Tables)

12 Months Ended

Dec. 31, 2020

Acquisitions and Divestitures

Summary of purchase price allocation

​	​	​	​
​	​	​	October 30, 2020
Accounts and other receivables	​	$	159
Parts and supplies			8
Other current assets	​	​	17
Assets held for sale (a)	​	​	1,022
Property and equipment	​	​	1,278
Goodwill	​	​	2,470
Other intangible assets	​	​	604
Investments in unconsolidated entities	​	​	9
Other assets	​	​	27
Accounts payable	​	​	(107)
Accrued liabilities	​	​	(155)
Deferred revenues	​	​	(19)
Current portion of long-term debt	​	​	(12)
Liabilities held for sale (a)	​	​	(234)
Long-term debt, less current portion (b)	​	​	(441)
Landfill and environmental remediation liabilities	​	​	(242)
Deferred income taxes	​	​	(223)
Other liabilities	​	​	(79)
Total purchase price	​	$	4,082

(a) In connection with our acquisition of Advanced Disposal, we were required by the U.S. Department of Justice to divest assets, including a portion of the assets acquired from Advanced Disposal. Upon acquisition these assets met the criteria for reporting discontinued operations and were classified as held for sale and included within the “Assets held for sale” and “Liabilities held for sale” line items in the above preliminary allocation of purchase price. In accordance with the Divesture Agreement, we sold the net assets to GFL Environmental for total consideration of $856 million as discussed further in the Divestitures section below.

​

(b) At the time of acquisition, Advanced Disposal had outstanding $425 million of 5.625% senior notes due November 2024, the fair value of which was $438 million. In November 2020, we redeemed the notes pursuant to an optional redemption feature. See Note 7 for additional information.

​

Summary of pro forma results

​

​	​	​	​	​	​	​
​		2020			2019
Operating revenues	​	$	16,192	​	$	16,660
Net income attributable to Waste Management, Inc.	​		1,685	​		1,472
Basic earnings per common share	​	​	3.99	​	​	3.47
Diluted earnings per common share	​	​	3.96	​	​	3.44
Weighted average common shares outstanding:	​	​	​	​	​	​
Basic	​		423	​		425
Diluted	​		425	​		428

X

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(2)
-URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(3)
-URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

+ Details

Name:	us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=121647850&loc=d3e4845-128472

+ Details

Name:	us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

n/a

+ References

No definition available.

+ Details

Name:	wm_BusinessCombinationsAndDispositionsAbstract
Namespace Prefix:	wm_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration