Name: Waste Management Inc. (NYSE:WM) | Balance Sheet: Assets
Creator: Stock Analysis on Net

Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Assets: Selected Items

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Current Assets: Selected Items

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Waste Management Inc., consolidated balance sheet: assets

US$ in millions

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Cash and cash equivalents	118)	553)	3,561)	61)	22)
Accounts receivable, net of allowance for doubtful accounts	2,278)	2,097)	1,949)	1,931)	1,805)
Other receivables, net of allowance for doubtful accounts	268)	527)	370)	344)	569)
Parts and supplies	135)	124)	106)	102)	96)
Other assets	270)	239)	223)	207)	132)
Current assets	3,069)	3,540)	6,209)	2,645)	2,624)
Property and equipment, net of accumulated depreciation and amortization	14,419)	14,148)	12,893)	11,942)	11,559)
Goodwill	9,028)	8,994)	6,532)	6,430)	6,247)
Other intangible assets, net	898)	1,024)	521)	572)	547)
Restricted trust and escrow accounts	348)	347)	313)	296)	319)
Equity method investments	335)	314)	377)	257)	127)
Investments without readily determinable fair values	48)	63)	57)	83)	87)
Redeemable preferred stock	49)	49)	49)	66)	55)
Investments in unconsolidated entities	432)	426)	483)	406)	269)
Other assets	903)	866)	792)	359)	264)
Long-term assets	26,028)	25,805)	21,534)	20,005)	19,205)
Total assets	29,097)	29,345)	27,743)	22,650)	21,829)

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).

Total assets grew from $21.8 billion in 2017 to $29.1 billion in 2021, representing a significant expansion of the balance sheet over the five-year period. This growth was primarily driven by a steady increase in long-term assets, which rose from $19.2 billion to $26.0 billion, while current assets exhibited more volatility due to fluctuations in cash holdings.

Liquidity and Current Asset Trends: Current assets remained relatively stable between 2017 and 2018 before experiencing a substantial spike to $6.2 billion in 2019, driven almost entirely by a surge in cash and cash equivalents to $3.6 billion. Following this peak, liquidity normalized, with cash levels returning to a range between $118 million and $553 million by 2021. Concurrently, accounts receivable showed a consistent upward trajectory, increasing from $1.8 billion in 2017 to $2.3 billion in 2021, indicating a steady growth in credit-based revenue.
Fixed Asset and Capital Investment: A consistent investment in infrastructure is evident in the property and equipment account, which grew steadily every year from $11.6 billion in 2017 to $14.4 billion in 2021. This suggests a sustained commitment to capital expenditures and the expansion of physical operational capacity.
Intangible Assets and Strategic Acquisitions: Goodwill and other intangible assets remained relatively stable until 2020, when a significant increase occurred. Goodwill rose from $6.5 billion in 2019 to $9.0 billion in 2020, and other intangible assets nearly doubled from $521 million to $1.0 billion in the same period. This pattern is indicative of a major acquisition or strategic merger executed during the 2020 fiscal year.
Other Long-Term Investments: Investments in unconsolidated entities and equity method investments generally trended upward from 2017 to 2021, with unconsolidated entities increasing from $269 million to $432 million. Other long-term assets also saw an increase, growing from $264 million in 2017 to $903 million in 2021, contributing to the overall growth of the non-current asset base.

The overall asset composition shifted toward a heavier weighting of long-term assets over the period. By 2021, long-term assets constituted approximately 90% of total assets, reflecting a capital-intensive operational model supported by strategic acquisitions and continuous infrastructure investment.

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