$WM
WASTE MANAGEMENT INC

2024 Q3 Form 10-Q Financial Statement

#000155837024010155 Filed on July 25, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $5.609B $5.402B
YoY Change 7.91% 5.53%
Cost Of Revenue $3.399B $3.291B
YoY Change 6.62% 22.71%
Gross Profit $2.210B $2.111B
YoY Change 9.95% -13.38%
Gross Profit Margin 39.4% 39.08%
Selling, General & Admin $525.0M $501.0M
YoY Change 11.7% -48.4%
% of Gross Profit 23.76% 23.73%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $558.0M $543.0M
YoY Change 7.51% 4.22%
% of Gross Profit 25.25% 25.72%
Operating Expenses $525.0M $501.0M
YoY Change 11.7% -66.42%
Operating Profit $1.119B $1.009B
YoY Change 9.6% 6.77%
Interest Expense -$131.0M -$136.0M
YoY Change 3.15% -0.73%
% of Operating Profit -11.71% -13.48%
Other Income/Expense, Net $6.000M -$1.000M
YoY Change -250.0% -150.0%
Pretax Income $995.0M $894.0M
YoY Change 14.11% 10.51%
Income Tax $235.0M $214.0M
% Of Pretax Income 23.62% 23.94%
Net Earnings $760.0M $680.0M
YoY Change 14.63% 10.57%
Net Earnings / Revenue 13.55% 12.59%
Basic Earnings Per Share $1.89 $1.70
Diluted Earnings Per Share $1.88 $1.69
COMMON SHARES
Basic Shares Outstanding 401.3M 401.1M
Diluted Shares Outstanding 403.2M 403.2M

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $614.0M $172.0M
YoY Change 309.33% 19.44%
Cash & Equivalents $614.0M $172.0M
Short-Term Investments
Other Short-Term Assets $336.0M $1.104B
YoY Change 5.0% 245.0%
Inventory $184.0M $183.0M
Prepaid Expenses
Receivables $2.841B $2.728B
Other Receivables $284.0M $252.0M
Total Short-Term Assets $4.259B $4.439B
YoY Change 19.57% 27.56%
LONG-TERM ASSETS
Property, Plant & Equipment $17.93B $17.42B
YoY Change 10.49% 9.44%
Goodwill $9.822B $9.363B
YoY Change 4.51% -0.38%
Intangibles $742.0M $753.0M
YoY Change -4.75% -6.92%
Long-Term Investments $524.0M $552.0M
YoY Change -3.32% -2.13%
Other Assets $995.0M $1.007B
YoY Change -0.6% -30.31%
Total Long-Term Assets $30.47B $29.56B
YoY Change 7.39% 5.07%
TOTAL ASSETS
Total Short-Term Assets $4.259B $4.439B
Total Long-Term Assets $30.47B $29.56B
Total Assets $34.73B $34.00B
YoY Change 8.75% 7.54%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.853B $1.785B
YoY Change 6.62% 9.78%
Accrued Expenses $1.651B $1.525B
YoY Change 3.45% -1.23%
Deferred Revenue $599.0M $584.0M
YoY Change 2.04% 2.82%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $676.0M $242.0M
YoY Change 127.61% -52.83%
Total Short-Term Liabilities $4.779B $4.136B
YoY Change 13.3% -2.71%
LONG-TERM LIABILITIES
Long-Term Debt $15.98B $16.50B
YoY Change 5.58% 11.08%
Other Long-Term Liabilities $1.154B $1.149B
YoY Change 6.85% -69.78%
Total Long-Term Liabilities $1.154B $1.149B
YoY Change 6.85% -93.84%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.779B $4.136B
Total Long-Term Liabilities $1.154B $1.149B
Total Liabilities $26.76B $26.55B
YoY Change 7.16% 7.46%
SHAREHOLDERS EQUITY
Retained Earnings $15.56B $15.10B
YoY Change 10.19% 9.9%
Common Stock $5.491B $5.439B
YoY Change 1.85% 1.72%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $7.979B $7.457B
YoY Change
Total Liabilities & Shareholders Equity $34.73B $34.00B
YoY Change 8.75% 7.54%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $760.0M $680.0M
YoY Change 14.63% 10.57%
Depreciation, Depletion And Amortization $558.0M $543.0M
YoY Change 7.51% 4.22%
Cash From Operating Activities $1.358B $1.154B
YoY Change 7.52% 12.04%
INVESTING ACTIVITIES
Capital Expenditures $781.0M $667.0M
YoY Change 16.05% 28.27%
Acquisitions
YoY Change
Other Investing Activities $301.0M -$937.0M
YoY Change 5920.0% 2185.37%
Cash From Investing Activities -$480.0M -$1.604B
YoY Change -28.14% 185.92%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -439.0M 273.0M
YoY Change -27.56% -145.5%
NET CHANGE
Cash From Operating Activities 1.358B 1.154B
Cash From Investing Activities -480.0M -1.604B
Cash From Financing Activities -439.0M 273.0M
Net Change In Cash 439.0M -177.0M
YoY Change -4090.91% 35.11%
FREE CASH FLOW
Cash From Operating Activities $1.358B $1.154B
Capital Expenditures $781.0M $667.0M
Free Cash Flow $577.0M $487.0M
YoY Change -2.2% -4.51%

Facts In Submission

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dei Entity Registrant Name
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Waste Management, Inc
dei Entity Incorporation State Country Code
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dei Entity Tax Identification Number
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us-gaap Earnings Per Share Diluted
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us-gaap Profit Loss
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us-gaap Profit Loss
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us-gaap Comprehensive Income Net Of Tax
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us-gaap Depreciation Depletion And Amortization
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us-gaap Accretion Expense Including Asset Retirement Obligations
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us-gaap Share Based Compensation
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us-gaap Proceeds From Issuance Of Long Term Debt And Capital Securities Net
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us-gaap Proceeds From Issuance Of Long Term Debt And Capital Securities Net
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us-gaap Repayments Of Long Term Debt And Capital Securities
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us-gaap Repayments Of Long Term Debt And Capital Securities
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments Of Dividends Common Stock
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us-gaap Proceeds From Stock Options Exercised
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2024Q2 us-gaap Dividends Common Stock Cash
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us-gaap Profit Loss
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us-gaap Profit Loss
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us-gaap Common Stock Dividends Per Share Declared
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us-gaap Number Of Reportable Segments
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us-gaap Concentration Risk Credit Risk
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;background:#ffffff;margin:0pt 0pt 12pt 7.2pt;"><span style="font-style:italic;font-weight:bold;">Concentrations of Credit Risk</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">Financial instruments that potentially subject us to concentrations of credit risk consist primarily of cash and cash equivalents, investments held within restricted funds, and accounts receivable. We make efforts to control our exposure to credit risk associated with these instruments by (i) placing our assets and other financial interests with a diverse group of credit-worthy financial institutions; (ii) holding high-quality financial instruments while limiting investments in any one instrument and (iii) maintaining strict policies over credit extension that include credit evaluations, credit limits and monitoring procedures, although generally we do not have collateral requirements for credit extensions. We also control our exposure associated with trade receivables by discontinuing service, to the extent allowable, to non-paying customers. However, our overall credit risk associated with trade receivables is limited due to the large number and diversity of customers we serve.</p>
CY2024Q2 us-gaap Debt Instrument Repurchase Amount
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us-gaap Prior Period Reclassification Adjustment Description
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 7.2pt;">Reclassifications</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">When necessary, reclassifications have been made to our prior period financial information to conform to the current year presentation and are not material to our Condensed Consolidated Financial Statements. </p>
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CY2024Q2 wm Debt And Financing Leases Maturing Or Subject To Remarketing Within Next Twelve Months
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CY2024Q2 wm Debt Maturing Or Subject To Refinancing Within Next Twelve Months Classified As Long Term
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CY2024Q2 us-gaap Debt Current
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us-gaap Affordable Housing Tax Credits And Other Tax Benefits Amount
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us-gaap Interest Expense Beneficial Interests Issued By Consolidated Variable Interest Entities
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CY2023Q2 us-gaap Affordable Housing Tax Credits And Other Tax Benefits Amount
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us-gaap Affordable Housing Tax Credits And Other Tax Benefits Amount
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CY2024Q2 us-gaap Common Stock Shares Outstanding
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CY2023Q2 us-gaap Common Stock Shares Outstanding
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us-gaap Weighted Average Number Of Shares Issued Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2023Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
407700000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
403300000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
409100000
CY2024Q2 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
4900000
CY2023Q2 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
5400000
us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
4900000
us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
5400000
CY2024Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1200000
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1300000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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1300000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1700000
CY2024Q2 wm Number Of Landfills Adjacent To Or Near Homeowners Properties With Agreements Guaranteeing Market Value
NumberOfLandfillsAdjacentToOrNearHomeownersPropertiesWithAgreementsGuaranteeingMarketValue
19
us-gaap Accrual For Environmental Loss Contingencies Increase Decrease For Acquisitions And Divestitures
AccrualForEnvironmentalLossContingenciesIncreaseDecreaseForAcquisitionsAndDivestitures
18000000
CY2024Q2 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
208000000
CY2024Q2 wm Number Of Sites Listed On Environmental Protection Agency National Priorities List For Which We Have Been Notified We Are Prp
NumberOfSitesListedOnEnvironmentalProtectionAgencyNationalPrioritiesListForWhichWeHaveBeenNotifiedWeArePrp
73
CY2024Q2 wm Number Of Sites Listed On Environmental Protection Agency National Priorities List For Which We Have Been Notified We Are Prp
NumberOfSitesListedOnEnvironmentalProtectionAgencyNationalPrioritiesListForWhichWeHaveBeenNotifiedWeArePrp
73
CY2024Q2 wm Number Of Owned Sites Listed On Environmental Protection Agency National Priorities List For Which We Have Been Notified We Are Prp
NumberOfOwnedSitesListedOnEnvironmentalProtectionAgencyNationalPrioritiesListForWhichWeHaveBeenNotifiedWeArePrp
14
CY2024Q2 wm Number Of Non Owned Sites Listed On Environmental Protection Agency National Priorities List For Which We Have Been Notified We Are Prp
NumberOfNonOwnedSitesListedOnEnvironmentalProtectionAgencyNationalPrioritiesListForWhichWeHaveBeenNotifiedWeArePrp
59
CY2024Q2 wm Disclosure Required Under Item One Zero Three Of Secs Regulation Sk
DisclosureRequiredUnderItemOneZeroThreeOfSecsRegulationSk
1000000
wm Multiemployer Plans Collective Bargaining Arrangement Percentage Of Participant
MultiemployerPlansCollectiveBargainingArrangementPercentageOfParticipant
0.20
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5402000000
CY2024Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
1009000000
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5119000000
CY2023Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
944000000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
10561000000
us-gaap Operating Income Loss
OperatingIncomeLoss
2025000000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
10011000000
us-gaap Operating Income Loss
OperatingIncomeLoss
1769000000
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5402000000
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5119000000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
10561000000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
10011000000
us-gaap Payments For Previous Acquisition
PaymentsForPreviousAcquisition
16000000
CY2024Q2 srt Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
1238000000
CY2024Q2 us-gaap Debt Instrument Repurchase Amount
DebtInstrumentRepurchaseAmount
778000000

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