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Waste Management Inc. (NYSE:WM)

This company has been moved to the archive! The financial data has not been updated since February 15, 2022.

Common-Size Balance Sheet: Assets
Quarterly Data

Waste Management Inc., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Cash and cash equivalents 0.41 0.40 0.51 1.64 1.88 2.84 10.00 11.50 12.84 10.75 8.66 0.24 0.27 0.37 0.21 0.24 0.10 0.17 0.15 0.15
Accounts receivable, net of allowance for doubtful accounts 7.83 8.05 7.56 6.97 7.15 7.78 7.09 6.79 7.03 7.41 7.76 7.83 8.53 8.60 8.35 7.69 8.27 8.54 8.50 7.91
Other receivables, net of allowance for doubtful accounts 0.92 1.20 1.55 1.38 1.80 1.17 0.82 1.18 1.33 1.00 0.94 1.07 1.52 1.77 1.59 2.28 2.61 1.01 1.46 1.64
Parts and supplies 0.46 0.46 0.43 0.43 0.42 0.47 0.44 0.43 0.38 0.40 0.40 0.45 0.45 0.46 0.45 0.44 0.44 0.47 0.46 0.46
Other assets 0.93 0.93 1.06 1.03 0.81 1.29 0.82 0.83 0.80 0.94 0.85 1.05 0.91 0.65 0.61 0.62 0.60 0.78 0.58 0.61
Current assets 10.55% 11.04% 11.11% 11.44% 12.06% 13.55% 19.18% 20.73% 22.38% 20.51% 18.61% 10.64% 11.68% 11.84% 11.22% 11.27% 12.02% 10.98% 11.16% 10.77%
Property and equipment, net of accumulated depreciation and amortization 49.55 48.83 48.59 48.29 48.21 51.86 48.53 47.46 46.47 47.24 48.74 53.01 52.72 52.30 52.81 52.64 52.95 53.16 52.80 52.92
Goodwill 31.03 31.23 30.97 30.89 30.65 26.26 24.46 23.91 23.54 24.16 25.06 27.72 28.39 28.29 28.83 28.62 28.62 29.92 29.98 30.14
Other intangible assets, net 3.09 3.19 3.29 3.41 3.49 1.82 1.77 1.82 1.88 2.00 2.10 2.44 2.53 2.45 2.51 2.70 2.51 2.68 2.75 2.77
Restricted trust and escrow accounts 1.20 1.28 1.54 1.54 1.18 1.49 1.44 1.42 1.13 1.24 1.36 1.57 1.31 1.74 1.90 1.91 1.46 0.00 0.00 0.00
Investments in unconsolidated entities 1.48 1.39 1.44 1.47 1.45 1.72 1.65 1.66 1.74 1.82 1.28 1.43 1.79 1.85 1.15 1.20 1.23 1.37 1.39 1.43
Other assets 3.10 3.04 3.07 2.96 2.95 3.31 2.97 3.00 2.85 3.03 2.84 3.19 1.58 1.52 1.57 1.66 1.21 1.90 1.92 1.98
Long-term assets 89.45% 88.96% 88.89% 88.56% 87.94% 86.45% 80.82% 79.27% 77.62% 79.49% 81.39% 89.36% 88.32% 88.16% 88.78% 88.73% 87.98% 89.02% 88.84% 89.23%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

The asset composition is characterized by a heavy concentration in long-term assets, which consistently represent between 77% and 89% of total assets. The balance sheet exhibits a high degree of stability in its core operational assets, with a notable temporary deviation in liquidity levels occurring between the second quarter of 2019 and the second quarter of 2020.

Liquidity and Current Asset Volatility
Cash and cash equivalents remained negligible, typically below 0.4% of total assets, from early 2017 through early 2019. A significant upward trend began in June 2019, with cash holdings peaking at 12.84% of total assets by December 31, 2019. This surge drove total current assets from a baseline of approximately 11% to a peak of 22.38%. Following this period, liquidity levels trended downward, returning to 0.41% by the end of 2021, suggesting a temporary capital infusion or strategic liquidity build-up that was subsequently deployed.
Fixed Asset Investment
Property and equipment, net of accumulated depreciation, constitute the largest single asset category. This item remained stable around 52% to 53% of total assets until 2019, where it experienced a proportional decline to a low of 46.47% in December 2019. This decline is attributed to the common-size effect of the simultaneous increase in cash holdings rather than a reduction in physical assets. By December 2021, property and equipment stabilized at approximately 49.55% of total assets.
Intangible Assets and Goodwill
Goodwill represents a substantial portion of the asset base, generally fluctuating between 23% and 31%. Similar to the property and equipment trend, goodwill showed a proportional dip during the 2019 liquidity spike, reaching 23.54% in December 2019, before recovering to 31.03% by December 2021. Other intangible assets remained relatively steady, ranging between 1.77% and 3.49% of total assets throughout the period.
Receivables and Other Current Assets
Accounts receivable maintained a consistent presence, generally oscillating between 6.8% and 8.6% of total assets. Other receivables and parts and supplies showed minimal volatility, indicating a stable operational cycle regarding credit extensions and inventory management.

Overall, the asset profile reflects a capital-intensive business model with a stable allocation toward long-term infrastructure and acquired intangibles. The temporary expansion of the current asset ratio in 2019-2020 stands as the only significant deviation from an otherwise consistent long-term asset strategy.

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