$WM
WASTE MANAGEMENT INC

2014 Q4 Form 10-Q Financial Statement

#000119312514386541 Filed on October 29, 2014

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2013 Q3
Revenue $3.437B $3.602B $3.621B
YoY Change -1.8% -0.52% 4.62%
Cost Of Revenue $1.890B $2.299B $2.325B
YoY Change -4.69% -1.12% 4.31%
Gross Profit $1.547B $1.303B $1.296B
YoY Change 1.98% 0.54% 5.19%
Gross Profit Margin 45.01% 36.17% 35.79%
Selling, General & Admin $656.0M $377.0M $349.0M
YoY Change -0.61% 8.02% 4.18%
% of Gross Profit 42.4% 28.93% 26.93%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $307.0M $329.0M $344.0M
YoY Change -6.12% -4.36% 3.93%
% of Gross Profit 19.84% 25.25% 26.54%
Operating Expenses $963.0M $377.0M $349.0M
YoY Change -2.43% 8.02% 4.18%
Operating Profit $752.0M $546.0M $577.0M
YoY Change -283.41% -5.37% 15.4%
Interest Expense -$131.0M -$114.0M -$119.0M
YoY Change 0.0% -4.2% -1.65%
% of Operating Profit -17.42% -20.88% -20.62%
Other Income/Expense, Net -$22.00M -$2.000M -$3.000M
YoY Change -64.52% -33.33% -78.57%
Pretax Income $599.0M $414.0M $452.0M
YoY Change -199.34% -8.41% 29.89%
Income Tax $1.000M $133.0M $155.0M
% Of Pretax Income 0.17% 32.13% 34.29%
Net Earnings $598.0M $281.0M $291.0M
YoY Change -198.84% -3.44% 35.98%
Net Earnings / Revenue 17.4% 7.8% 8.04%
Basic Earnings Per Share $1.29 $0.59 $0.62
Diluted Earnings Per Share $1.28 $0.58 $0.62
COMMON SHARES
Basic Shares Outstanding 457.9M shares 460.8M shares 469.3M shares
Diluted Shares Outstanding 463.6M shares 471.2M shares

Balance Sheet

Concept 2014 Q4 2014 Q3 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.307B $183.0M $157.0M
YoY Change 456.17% 16.56% -60.55%
Cash & Equivalents $1.307B $183.0M $157.0M
Short-Term Investments $0.00
Other Short-Term Assets $176.0M $123.0M $138.0M
YoY Change 7.98% -10.87% -13.21%
Inventory $106.0M $106.0M $178.0M
Prepaid Expenses
Receivables $1.587B $1.643B $1.751B
Other Receivables $350.0M $70.00M $109.0M
Total Short-Term Assets $3.526B $4.116B $2.417B
YoY Change 41.1% 70.29% -9.1%
LONG-TERM ASSETS
Property, Plant & Equipment $10.66B $10.85B $12.62B
YoY Change -13.67% -14.04% 0.82%
Goodwill $5.740B $5.766B $6.593B
YoY Change -5.44% -12.54% 5.34%
Intangibles $440.0M $464.0M $569.0M
YoY Change -16.82% -18.45% 40.49%
Long-Term Investments $228.0M $443.0M $656.0M
YoY Change -47.83% -32.47% 0.61%
Other Assets $526.0M $573.0M $757.0M
YoY Change -29.59% -24.31% 30.52%
Total Long-Term Assets $17.73B $18.10B $21.20B
YoY Change -11.33% -14.63% 3.83%
TOTAL ASSETS
Total Short-Term Assets $3.526B $4.116B $2.417B
Total Long-Term Assets $17.73B $18.10B $21.20B
Total Assets $21.25B $22.21B $23.61B
YoY Change -5.5% -5.94% 2.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $740.0M $712.0M $763.0M
YoY Change -0.54% -6.68% -3.05%
Accrued Expenses $1.180B $1.100B $1.059B
YoY Change 10.38% 3.87% -5.02%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.090B $1.141B $568.0M
YoY Change 50.14% 100.88% -31.23%
Total Short-Term Liabilities $3.485B $3.789B $2.862B
YoY Change 15.63% 32.39% -10.2%
LONG-TERM LIABILITIES
Long-Term Debt $8.345B $9.023B $9.491B
YoY Change -12.16% -4.93% 3.55%
Other Long-Term Liabilities $709.0M $679.0M $744.0M
YoY Change -2.48% -8.74% -1.98%
Total Long-Term Liabilities $709.0M $679.0M $744.0M
YoY Change -2.48% -8.74% -1.98%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.485B $3.789B $2.862B
Total Long-Term Liabilities $709.0M $679.0M $744.0M
Total Liabilities $15.41B $16.55B $16.60B
YoY Change -7.19% -0.3% 0.83%
SHAREHOLDERS EQUITY
Retained Earnings $6.888B $6.473B $7.066B
YoY Change 9.52% -8.39% 3.61%
Common Stock $4.591B $4.472B $4.588B
YoY Change -0.24% -2.53% 0.79%
Preferred Stock
YoY Change
Treasury Stock (at cost) $5.636B $5.658B $5.115B
YoY Change 5.58% 10.62% -3.2%
Treasury Stock Shares 171.7M shares 172.4M shares 161.1M shares
Shareholders Equity $5.866B $5.364B $6.708B
YoY Change
Total Liabilities & Shareholders Equity $21.30B $22.21B $23.61B
YoY Change -5.78% -5.94% 2.34%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2013 Q3
OPERATING ACTIVITIES
Net Income $598.0M $281.0M $291.0M
YoY Change -198.84% -3.44% 35.98%
Depreciation, Depletion And Amortization $307.0M $329.0M $344.0M
YoY Change -6.12% -4.36% 3.93%
Cash From Operating Activities $520.0M $672.0M $736.0M
YoY Change -12.9% -8.7% 28.22%
INVESTING ACTIVITIES
Capital Expenditures -$370.0M -$307.0M -$323.0M
YoY Change -17.23% -4.95% -19.65%
Acquisitions
YoY Change
Other Investing Activities $1.941B $25.00M -$416.0M
YoY Change -9342.86% -106.01% 642.86%
Cash From Investing Activities $1.571B -$282.0M -$739.0M
YoY Change -435.68% -61.84% 61.35%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -965.0M -341.0M 6.000M
YoY Change 323.25% -5783.33% -86.05%
NET CHANGE
Cash From Operating Activities 520.0M 672.0M 736.0M
Cash From Investing Activities 1.571B -282.0M -739.0M
Cash From Financing Activities -965.0M -341.0M 6.000M
Net Change In Cash 1.126B 49.00M 3.000M
YoY Change -1237.37% 1533.33% -98.11%
FREE CASH FLOW
Cash From Operating Activities $520.0M $672.0M $736.0M
Capital Expenditures -$370.0M -$307.0M -$323.0M
Free Cash Flow $890.0M $979.0M $1.059B
YoY Change -14.75% -7.55% 8.5%

Facts In Submission

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dei Trading Symbol
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dei Entity Registrant Name
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WASTE MANAGEMENT INC
dei Amendment Flag
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dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Document Fiscal Year Focus
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2014
dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2014-09-30
dei Entity Central Index Key
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<div> <table style="BORDER-COLLAPSE: collapse" 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>17.</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> <!-- xbrl,body --> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px; TEXT-INDENT: 4%" 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: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 2%; MARGIN-TOP: 18pt"> <b><i>Reclassifications</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> When necessary, reclassifications have been made to our prior period consolidated financial information in order to conform to the current year presentation.</p> </div>
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InterestAndOtherIncomeExpense
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CY2014Q3 wm Income Expense From Divestitures Asset Impairments And Unusual Items
IncomeExpenseFromDivestituresAssetImpairmentsAndUnusualItems
-16000000
CY2014Q3 wm Equity In Net Income Losses Of Unconsolidated Entities And Other Net
EquityInNetIncomeLossesOfUnconsolidatedEntitiesAndOtherNet
-16000000

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