$WM
WASTE MANAGEMENT INC

2014 Q2 Form 10-Q Financial Statement

#000119312514283972 Filed on July 29, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2013 Q2
Revenue $3.561B $3.526B
YoY Change 0.99% 1.94%
Cost Of Revenue $2.301B $2.311B
YoY Change -0.43% 2.26%
Gross Profit $1.260B $1.215B
YoY Change 3.7% 1.33%
Gross Profit Margin 35.38% 34.46%
Selling, General & Admin $353.0M $353.0M
YoY Change 0.0% -5.61%
% of Gross Profit 28.02% 29.05%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $339.0M $339.0M
YoY Change 0.0% 4.95%
% of Gross Profit 26.9% 27.9%
Operating Expenses $353.0M $353.0M
YoY Change 0.0% -5.61%
Operating Profit $532.0M $510.0M
YoY Change 4.31% 9.44%
Interest Expense -$141.0M -$118.0M
YoY Change 19.49% -9.92%
% of Operating Profit -26.5% -23.14%
Other Income/Expense, Net -$2.000M $2.000M
YoY Change -200.0% -300.0%
Pretax Income $402.0M $383.0M
YoY Change 4.96% 14.67%
Income Tax $180.0M $127.0M
% Of Pretax Income 44.78% 33.16%
Net Earnings $210.0M $244.0M
YoY Change -13.93% 17.31%
Net Earnings / Revenue 5.9% 6.92%
Basic Earnings Per Share $0.45 $0.52
Diluted Earnings Per Share $0.45 $0.52
COMMON SHARES
Basic Shares Outstanding 465.9M shares 467.9M shares
Diluted Shares Outstanding 468.0M shares 469.4M shares

Balance Sheet

Concept 2014 Q2 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $137.0M $154.0M
YoY Change -11.04% -35.02%
Cash & Equivalents $137.0M $154.0M
Short-Term Investments
Other Short-Term Assets $149.0M $143.0M
YoY Change 4.2% -40.17%
Inventory $166.0M $171.0M
Prepaid Expenses
Receivables $1.710B $1.730B
Other Receivables $87.00M $123.0M
Total Short-Term Assets $2.355B $2.404B
YoY Change -2.04% -2.04%
LONG-TERM ASSETS
Property, Plant & Equipment $12.03B $12.47B
YoY Change -3.51% 0.88%
Goodwill $6.094B $6.391B
YoY Change -4.65%
Intangibles $493.0M $411.0M
YoY Change 19.95%
Long-Term Investments $419.0M $653.0M
YoY Change -35.83% -0.46%
Other Assets $787.0M $684.0M
YoY Change 15.06% 20.42%
Total Long-Term Assets $19.82B $20.61B
YoY Change -3.8% 1.83%
TOTAL ASSETS
Total Short-Term Assets $2.355B $2.404B
Total Long-Term Assets $19.82B $20.61B
Total Assets $22.18B $23.01B
YoY Change -3.62% 1.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $692.0M $696.0M
YoY Change -0.57% -3.33%
Accrued Expenses $1.031B $1.069B
YoY Change -3.55% -6.64%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $786.0M $776.0M
YoY Change 1.29% -9.03%
Total Short-Term Liabilities $2.980B $3.022B
YoY Change -1.39% -5.18%
LONG-TERM LIABILITIES
Long-Term Debt $9.011B $8.994B
YoY Change 0.19% 0.23%
Other Long-Term Liabilities $705.0M $768.0M
YoY Change -8.2% -64.53%
Total Long-Term Liabilities $705.0M $768.0M
YoY Change -8.2% -93.1%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.980B $3.022B
Total Long-Term Liabilities $705.0M $768.0M
Total Liabilities $16.03B $16.19B
YoY Change -1.0% -1.99%
SHAREHOLDERS EQUITY
Retained Earnings $6.376B $6.948B
YoY Change -8.23%
Common Stock $4.630B $4.575B
YoY Change 1.2%
Preferred Stock
YoY Change
Treasury Stock (at cost) $5.288B $5.148B
YoY Change 2.72%
Treasury Stock Shares 164.4M shares 162.1M shares
Shareholders Equity $5.853B $6.509B
YoY Change
Total Liabilities & Shareholders Equity $22.18B $23.01B
YoY Change -3.62% 1.41%

Cashflow Statement

Concept 2014 Q2 2013 Q2
OPERATING ACTIVITIES
Net Income $210.0M $244.0M
YoY Change -13.93% 17.31%
Depreciation, Depletion And Amortization $339.0M $339.0M
YoY Change 0.0% 4.95%
Cash From Operating Activities $555.0M $545.0M
YoY Change 1.83% -18.54%
INVESTING ACTIVITIES
Capital Expenditures -$208.0M -$235.0M
YoY Change -11.49% -33.05%
Acquisitions
YoY Change
Other Investing Activities $36.00M -$37.00M
YoY Change -197.3% -24.49%
Cash From Investing Activities -$172.0M -$272.0M
YoY Change -36.76% -32.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -587.0M -424.0M
YoY Change 38.44% 92.73%
NET CHANGE
Cash From Operating Activities 555.0M 545.0M
Cash From Investing Activities -172.0M -272.0M
Cash From Financing Activities -587.0M -424.0M
Net Change In Cash -204.0M -151.0M
YoY Change 35.1% -408.16%
FREE CASH FLOW
Cash From Operating Activities $555.0M $545.0M
Capital Expenditures -$208.0M -$235.0M
Free Cash Flow $763.0M $780.0M
YoY Change -2.18% -23.53%

Facts In Submission

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dei Trading Symbol
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dei Document Type
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us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
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<div> <table style="FONT-FAMILY: 'Times New Roman'; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WORD-SPACING: 0px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td valign="top" width="4%" align="left"><font style="FONT-FAMILY: 'Times New Roman'" size="2"><b>15.</b></font></td> <td valign="top" align="left"><font style="FONT-FAMILY: 'Times New Roman'" size="2"><b>New Accounting Standard Pending Adoption</b></font></td> </tr> </table> <p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; MARGIN-TOP: 6px; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px" align="justify"><font style="FONT-FAMILY: 'Times New Roman'" size="2">In May 2014, the Financial Accounting Standards Board (&#x201C;FASB&#x201D;) amended authoritative guidance associated with revenue recognition. The amended guidance requires companies to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Additionally, the amendments will require enhanced qualitative and quantitative disclosures regarding customer contracts. The amended authoritative guidance associated with revenue recognition is effective for the Company January&#xA0;1, 2017. The amended guidance may be applied retrospectively for all periods presented or retrospectively with the cumulative effect of initially applying the amended guidance recognized at the date of initial application. We are in the process of assessing the provisions of the amended guidance and have not determined whether the adoption will have a material impact on our consolidated financial statements.</font></p> </div>
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<div> <p style="MARGIN-BOTTOM: 0px; MARGIN-LEFT: 2%; MARGIN-TOP: 12px"> <font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Reclassifications</i></b></font></p> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px; TEXT-INDENT: 4%" align="justify"><font style="FONT-FAMILY: Times New Roman" size="2">When necessary, reclassifications have been made to our prior period consolidated financial information in order to conform to the current year presentation.</font></p> </div>
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