Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Waste Management Inc., consolidated cash flow statement

US$ in millions

12 months ended:	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Consolidated net income	1,817)	1,496)	1,671)	1,923)	1,949)
Depreciation and amortization	1,999)	1,671)	1,574)	1,477)	1,376)
Deferred income tax expense (benefit)	(77)	165)	100)	25)	(251)
Interest accretion on landfill and environmental remediation liabilities	111)	103)	98)	95)	92)
Provision for bad debts	37)	54)	39)	54)	43)
Equity-based compensation expense	108)	94)	86)	89)	101)
Net gain on disposal of assets	(25)	(9)	(27)	(47)	(20)
(Gain) loss from divestitures, asset impairments and other, net	(16)	43)	113)	(58)	43)
Equity in net losses of unconsolidated entities, net of dividends	38)	60)	55)	41)	39)
Loss on early extinguishment of debt, net	220)	53)	85)	—)	6)
Receivables	28)	(179)	(53)	(16)	(271)
Other current assets	(39)	10)	(23)	(16)	(20)
Other assets	34)	53)	10)	(14)	4)
Accounts payable and accrued liabilities	206)	(37)	243)	203)	126)
Deferred revenues and other liabilities	(103)	(174)	(97)	(186)	(37)
Change in operating assets and liabilities, net of effects of acquisitions and divestitures	126)	(327)	80)	(29)	(198)
Adjustments to reconcile consolidated net income to net cash provided by operating activities	2,521)	1,907)	2,203)	1,647)	1,231)
Net cash provided by operating activities	4,338)	3,403)	3,874)	3,570)	3,180)
Acquisitions of businesses, net of cash acquired	(75)	(4,085)	(521)	(460)	(200)
Capital expenditures	(1,904)	(1,632)	(1,818)	(1,694)	(1,509)
Proceeds from divestitures of businesses and other assets, net of cash divested	96)	885)	49)	208)	99)
Net receipts from restricted trust and escrow accounts	—)	—)	—)	—)	243)
Other, net	(11)	(15)	(86)	(223)	(12)
Net cash used in investing activities	(1,894)	(4,847)	(2,376)	(2,169)	(1,379)
New borrowings	7,948)	9,420)	13,237)	812)	1,540)
Debt repayments	(8,404)	(9,629)	(10,088)	(499)	(1,907)
Premiums and other paid on early extinguishment of debt	(211)	(30)	(84)	—)	(8)
Common stock repurchase program	(1,350)	(402)	(248)	(1,004)	(750)
Cash dividends	(970)	(927)	(876)	(802)	(750)
Exercise of common stock options	66)	63)	67)	52)	95)
Tax payments associated with equity-based compensation transactions	(28)	(34)	(33)	(29)	(47)
Other, net	49)	(20)	(11)	(38)	16)
Net cash provided by (used in) financing activities	(2,900)	(1,559)	1,964)	(1,508)	(1,811)
Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents	2)	4)	2)	(3)	—)
Increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents	(454)	(2,999)	3,464)	(110)	(10)
Cash, cash equivalents and restricted cash and cash equivalents at beginning of period	648)	3,647)	183)	293)	32)
Cash, cash equivalents and restricted cash and cash equivalents at end of period	194)	648)	3,647)	183)	22)

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).

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Cash flow statement item	Description	The company
Net cash provided by operating activities	Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.	Waste Management Inc. net cash provided by operating activities decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level.
Net cash used in investing activities	Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.	Waste Management Inc. net cash used in investing activities decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level.
Net cash provided by (used in) financing activities	Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.	Waste Management Inc. net cash provided by (used in) financing activities decreased from 2019 to 2020 and from 2020 to 2021.

Waste Management Inc. (NYSE:WM)

Cash Flow Statement