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Acquisitions and Divestitures (Tables) | 12 Months Ended
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Dec. 31, 2021
Acquisitions and Divestitures |
Summary of purchase price allocation |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | October 30, 2020 | ​ | ​ | Adjustments | ​ | ​ | October 30, 2021
Accounts and other receivables | ​ | $ | 159 | ​ | $ | 1 | ​ | $ | 160
Parts and supplies |  |  | 8 |  |  | (1) | ​ |  | 7
Other current assets | ​ | ​ | 17 | ​ | ​ | (1) | ​ | ​ | 16
Assets held for sale (a) | ​ | ​ | 1,022 | ​ | ​ | — | ​ | ​ | 1,022
Property and equipment | ​ | ​ | 1,278 | ​ | ​ | (12) | ​ | ​ | 1,266
Goodwill | ​ | ​ | 2,470 | ​ | ​ | 26 | ​ | ​ | 2,496
Other intangible assets | ​ | ​ | 604 | ​ | ​ | (3) | ​ | ​ | 601
Investments in unconsolidated entities | ​ | ​ | 9 | ​ | ​ | — | ​ | ​ | 9
Other assets | ​ | ​ | 27 | ​ | ​ | (2) | ​ | ​ | 25
Accounts payable | ​ | ​ | (107) | ​ | ​ | 1 | ​ | ​ | (106)
Accrued liabilities | ​ | ​ | (155) | ​ | ​ | (3) | ​ | ​ | (158)
Deferred revenues | ​ | ​ | (19) | ​ | ​ | — | ​ | ​ | (19)
Current portion of long-term debt | ​ | ​ | (12) | ​ | ​ | — | ​ | ​ | (12)
Liabilities held for sale (a) | ​ | ​ | (234) | ​ | ​ | — | ​ | ​ | (234)
Long-term debt, less current portion (b) | ​ | ​ | (441) | ​ | ​ | — | ​ | ​ | (441)
Landfill and environmental remediation liabilities | ​ | ​ | (242) | ​ | ​ | (13) | ​ | ​ | (255)
Deferred income taxes | ​ | ​ | (223) | ​ | ​ | 9 | ​ | ​ | (214)
Other liabilities | ​ | ​ | (79) | ​ | ​ | (2) | ​ | ​ | (81)
Total purchase price | ​ | $ | 4,082 | ​ | $ | — | ​ | $ | 4,082
(a) | In connection with our acquisition of Advanced Disposal, we and Advanced Disposal entered into an agreement that provided for GFL Environmental to acquire a combination of assets from us and Advanced Disposal to address divestitures required by the U.S. Department of Justice. 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 final allocation of purchase price. Immediately following the acquisition, the divestiture transactions were consummated and the Company subsequently received cash proceeds from the sale of $856 million.
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(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.
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

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