Stock Analysis on Net

Waste Management Inc. (NYSE:WM)

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

Adjustments to Financial Statements

Microsoft Excel

Adjustments to Current Assets

Waste Management Inc., adjusted current assets

US$ in millions

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
As Reported
Current assets 3,069 3,540 6,209 2,645 2,624
Adjustments
Add: Allowance for doubtful accounts 25 33 28 29 21
After Adjustment
Adjusted current assets 3,094 3,573 6,237 2,674 2,645

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).


Adjustments to Total Assets

Waste Management Inc., adjusted total assets

US$ in millions

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
As Reported
Total assets 29,097 29,345 27,743 22,650 21,829
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)1 492 485
Add: Allowance for doubtful accounts 25 33 28 29 21
After Adjustment
Adjusted total assets 29,122 29,378 27,771 23,171 22,335

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »


Adjustments to Current Liabilities

Waste Management Inc., adjusted current liabilities

US$ in millions

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
As Reported
Current liabilities 4,082 3,553 3,144 3,108 3,262
Adjustments
Less: Current deferred revenues 571 539 534 522 503
After Adjustment
Adjusted current liabilities 3,511 3,014 2,610 2,586 2,759

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).


Adjustments to Total Liabilities

Waste Management Inc., adjusted total liabilities

US$ in millions

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
As Reported
Total liabilities 21,971 21,891 20,673 16,374 15,787
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)1 492 485
Less: Deferred tax liabilities2 1,694 1,806 1,407 1,291 1,248
Less: Deferred revenues 571 539 534 522 503
After Adjustment
Adjusted total liabilities 19,706 19,546 18,732 15,053 14,521

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Deferred tax liabilities. See details »


Adjustments to Stockholders’ Equity

Waste Management Inc., adjusted total Waste Management, Inc. stockholders’ equity

US$ in millions

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
As Reported
Total Waste Management, Inc. stockholders’ equity 7,124 7,452 7,068 6,275 6,019
Adjustments
Less: Net deferred tax assets (liabilities)1 (1,694) (1,806) (1,407) (1,291) (1,248)
Add: Allowance for doubtful accounts 25 33 28 29 21
Add: Deferred revenues 571 539 534 522 503
Add: Noncontrolling interests 2 2 2 1 23
After Adjustment
Adjusted total equity 9,416 9,832 9,039 8,118 7,814

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 Net deferred tax assets (liabilities). See details »


Adjustments to Capitalization Table

Waste Management Inc., adjusted capitalization table

US$ in millions

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
As Reported
Current portion of long-term debt 708 551 218 432 739
Long-term debt, less current portion 12,697 13,259 13,280 9,594 8,752
Total reported debt 13,405 13,810 13,498 10,026 9,491
Total Waste Management, Inc. stockholders’ equity 7,124 7,452 7,068 6,275 6,019
Total reported capital 20,529 21,262 20,566 16,301 15,510
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)1 492 485
Add: Current operating lease liabilities (classified in Accrued liabilities)2 64 63 79
Add: Long-term operating lease liabilities (classified in Other liabilities)3 459 453 366
Adjusted total debt 13,928 14,326 13,943 10,518 9,976
Adjustments to Equity
Less: Net deferred tax assets (liabilities)4 (1,694) (1,806) (1,407) (1,291) (1,248)
Add: Allowance for doubtful accounts 25 33 28 29 21
Add: Deferred revenues 571 539 534 522 503
Add: Noncontrolling interests 2 2 2 1 23
Adjusted total equity 9,416 9,832 9,039 8,118 7,814
After Adjustment
Adjusted total capital 23,344 24,158 22,982 18,636 17,790

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Current operating lease liabilities (classified in Accrued liabilities). See details »

3 Long-term operating lease liabilities (classified in Other liabilities). See details »

4 Net deferred tax assets (liabilities). See details »


Adjustments to Revenues

Waste Management Inc., adjusted operating revenues

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
As Reported
Operating revenues 17,931 15,218 15,455 14,914 14,485
Adjustment
Add: Increase (decrease) in deferred revenues 32 5 12 19 10
After Adjustment
Adjusted operating revenues 17,963 15,223 15,467 14,933 14,495

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).


Adjustments to Reported Income

Waste Management Inc., adjusted net income attributable to Waste Management, Inc.

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
As Reported
Net income attributable to Waste Management, Inc. 1,816 1,496 1,670 1,925 1,949
Adjustments
Add: Deferred income tax expense (benefit)1 (77) 165 100 25 (251)
Add: Increase (decrease) in allowance for doubtful accounts (8) 5 (1) 8 (3)
Add: Increase (decrease) in deferred revenues 32 5 12 19 10
Add: Other comprehensive income (loss), net of tax (22) 47 79 (90) 88
Add: Comprehensive income (loss), net of tax, attributable to noncontrolling interest 1 1 (2)
After Adjustment
Adjusted consolidated net income 1,742 1,718 1,861 1,885 1,793

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 Deferred income tax expense (benefit). See details »