Selected Financial Data
since 2005
Income Statement
Waste Management Inc., selected items from income statement, long-term trends
US$ in millions
| 12 months ended: | Operating revenues | Income from operations | Net income attributable to Waste Management, Inc. |
|---|---|---|---|
| Dec 31, 2021 | 17,931) | 2,965) | 1,816) |
| Dec 31, 2020 | 15,218) | 2,434) | 1,496) |
| Dec 31, 2019 | 15,455) | 2,706) | 1,670) |
| Dec 31, 2018 | 14,914) | 2,789) | 1,925) |
| Dec 31, 2017 | 14,485) | 2,636) | 1,949) |
| Dec 31, 2016 | 13,609) | 2,296) | 1,182) |
| Dec 31, 2015 | 12,961) | 2,045) | 753) |
| Dec 31, 2014 | 13,996) | 2,299) | 1,298) |
| Dec 31, 2013 | 13,983) | 1,079) | 98) |
| Dec 31, 2012 | 13,649) | 1,851) | 817) |
| Dec 31, 2011 | 13,378) | 2,028) | 961) |
| Dec 31, 2010 | 12,515) | 2,116) | 953) |
| Dec 31, 2009 | 11,791) | 1,887) | 994) |
| Dec 31, 2008 | 13,388) | 2,234) | 1,087) |
| Dec 31, 2007 | 13,310) | 2,254) | 1,163) |
| Dec 31, 2006 | 13,363) | 2,029) | 1,149) |
| Dec 31, 2005 | 13,074) | 1,710) | 1,182) |
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), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
The financial data exhibits several notable trends and fluctuations over the analyzed period.
- Operating Revenues
- Operating revenues show a general upward trajectory, starting at approximately 13,074 million USD in 2005 and increasing to 17,931 million USD by 2021. Despite consistent growth over most years, there is a notable dip in 2009, where revenues fell to 11,791 million USD from preceding levels, likely reflecting broader economic challenges. Revenues recovered steadily after 2009, with only a slight decline in 2015 before continuing upward thereafter. The growth trend in recent years demonstrates expansion and possibly increased market share or pricing power.
- Income from Operations
- Income from operations fluctuates more than operating revenues. Starting at 1,710 million USD in 2005, income peaked at 2,254 million USD in 2007 but experienced a sharp decline in 2013 to 1,079 million USD, indicating operational difficulties or increased costs in that year. The year 2014 saw a strong rebound to 2,299 million USD, followed by relatively stable operational income in the 2,000-2,700 million USD range. The variable pattern suggests periods of operational volatility, possibly due to cost structure changes, efficiency issues, or one-time impacts.
- Net Income Attributable
- Net income attributable to the company fluctuates significantly, displaying considerable volatility and not completely mirroring operating income trends. The net income was stable around 1,100-1,200 million USD from 2005 through 2007 but dropped notably to 98 million USD in 2013, coinciding with the sharp fall in operating income, indicating a year of exceptional challenges. Subsequently, net income recovered strongly in 2014 but experienced another drop in 2015 before gradually increasing again, reaching 1,816 million USD by 2021. These swings may be influenced by extraordinary items, tax changes, or financial management strategies impacting profitability beyond operating income levels.
Overall, the data reflects a company experiencing growth in revenue with periods of operational and profitability challenges, particularly around 2009 and 2013. The recovery in subsequent years and growth by 2021 indicate resilience and effective responses to past difficulties. Profitability metrics demonstrate sensitivity to operational conditions and external factors, underpinning the importance of managing costs and other influences to maintain income stability.
Balance Sheet: Assets
Waste Management Inc., selected items from assets, long-term trends
US$ in millions
| Current assets | Total assets | |
|---|---|---|
| Dec 31, 2021 | 3,069) | 29,097) |
| Dec 31, 2020 | 3,540) | 29,345) |
| Dec 31, 2019 | 6,209) | 27,743) |
| Dec 31, 2018 | 2,645) | 22,650) |
| Dec 31, 2017 | 2,624) | 21,829) |
| Dec 31, 2016 | 2,376) | 20,859) |
| Dec 31, 2015 | 2,345) | 20,419) |
| Dec 31, 2014 | 3,641) | 21,412) |
| Dec 31, 2013 | 2,499) | 22,603) |
| Dec 31, 2012 | 2,423) | 23,097) |
| Dec 31, 2011 | 2,379) | 22,569) |
| Dec 31, 2010 | 2,482) | 21,476) |
| Dec 31, 2009 | 3,010) | 21,154) |
| Dec 31, 2008 | 2,335) | 20,227) |
| Dec 31, 2007 | 2,480) | 20,175) |
| Dec 31, 2006 | 3,182) | 20,600) |
| Dec 31, 2005 | 3,451) | 21,135) |
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), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
- Current Assets
-
Current assets exhibited a generally fluctuating trend over the examined period. Beginning at 3,451 million US dollars at year-end 2005, they decreased gradually to a low point around 2,335 million in 2008. Subsequent years showed a partial recovery and fluctuations, with notable increases such as in 2014, where current assets rose sharply to 3,641 million from 2,499 million the previous year. The most significant increase occurred by 2019, reaching 6,209 million, which more than doubled the value from two years prior. After this peak, current assets declined to 3,540 million in 2020 and further to 3,069 million in 2021. Overall, the data reflect periods of volatility, with a pronounced spike in 2019 followed by a contraction.
- Total Assets
-
Total assets displayed a relatively stable to moderately increasing trend over the analyzed timeframe. Starting at 21,135 million US dollars in 2005, total assets saw some minor fluctuations but generally hovered around the 20,000 to 23,000 million range through 2013. After a modest dip in 2014 to 21,412 million and 20,419 million in 2015, the trend reversed, showing consistent growth from 2016 onward. Total assets increased substantially from 21,829 million in 2017 to a peak of 29,345 million in 2020, marking significant asset growth over these years. A slight decline to 29,097 million was recorded in 2021, but total assets remained near the highest levels observed in the series. This pattern indicates an overall expansion in asset base during the latter part of the period, despite some minor year-to-year variability.
Balance Sheet: Liabilities and Stockholders’ Equity
Waste Management Inc., selected items from liabilities and stockholders’ equity, long-term trends
US$ in millions
| Current liabilities | Total liabilities | Long-term debt, including current portion | Total Waste Management, Inc. stockholders’ equity | |
|---|---|---|---|---|
| Dec 31, 2021 | 4,082) | 21,971) | 13,405) | 7,124) |
| Dec 31, 2020 | 3,553) | 21,891) | 13,810) | 7,452) |
| Dec 31, 2019 | 3,144) | 20,673) | 13,498) | 7,068) |
| Dec 31, 2018 | 3,108) | 16,374) | 10,026) | 6,275) |
| Dec 31, 2017 | 3,262) | 15,787) | 9,491) | 6,019) |
| Dec 31, 2016 | 2,794) | 15,539) | 9,310) | 5,297) |
| Dec 31, 2015 | 2,510) | 15,052) | 8,981) | 5,345) |
| Dec 31, 2014 | 3,485) | 15,523) | 9,435) | 5,866) |
| Dec 31, 2013 | 3,014) | 16,601) | 10,226) | 5,707) |
| Dec 31, 2012 | 3,036) | 16,422) | 9,916) | 6,354) |
| Dec 31, 2011 | 3,068) | 16,179) | 9,756) | 6,070) |
| Dec 31, 2010 | 2,485) | 14,885) | 8,907) | 6,260) |
| Dec 31, 2009 | 2,901) | 14,563) | 8,873) | 6,285) |
| Dec 31, 2008 | 3,036) | 14,042) | 8,326) | 5,902) |
| Dec 31, 2007 | 2,598) | 14,073) | 8,337) | 5,792) |
| Dec 31, 2006 | 3,268) | 14,103) | 8,317) | 6,222) |
| Dec 31, 2005 | 3,257) | 14,733) | 8,687) | 6,121) |
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), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
The analysis of the financial data reveals several notable trends in liabilities and stockholders' equity over the examined period.
- Current Liabilities
- The current liabilities exhibit fluctuation throughout the years. Starting at $3,257 million in 2005, there was a decline to $2,598 million by 2007, followed by a rise and fall pattern. A noteworthy increase occurred from 2014 onwards, reaching a peak of $4,082 million by the end of 2021. This overall upward trend in recent years could indicate a growing short-term obligation burden.
- Total Liabilities
- Total liabilities remained relatively stable during the early years, ranging around $14,000 to $16,000 million. However, from 2018, a significant increase is observed, with total liabilities surging from approximately $16,374 million to nearly $21,971 million in 2021. This sharp rise suggests an escalation in both short-term and long-term financial obligations.
- Long-term Debt, Including Current Portion
- Long-term debt figures stayed fairly consistent in the $8,300 to $10,000 million range until 2014. Subsequently, a marked increase is noted, peaking near $13,498 million in 2019 before slightly decreasing to $13,405 million in 2021. This indicates a strategic accumulation of long-term debt starting from around 2015, potentially to finance expansion or other corporate activities.
- Stockholders’ Equity
- Stockholders' equity exhibits variability with an initial increase from $6,121 million in 2005 to $6,285 million in 2009, followed by a decline to approximately $5,297 million in 2016. Post-2016, equity increases again, reaching a peak of $7,452 million in 2020 before a slight decrease in 2021. This suggests that while equity value experienced some volatility, there has been moderate recovery and growth in recent years.
In summary, the company's financial structure has evolved with rising liabilities, particularly post-2018, driven by long-term debt increases. Equally, stockholders’ equity has shown a positive trend in later years, indicating possible capital strengthening efforts. The concurrent expansion of liabilities and equity highlights shifts in the company's financing and capital management strategies over the period analyzed.
Cash Flow Statement
Waste Management Inc., selected items from cash flow statement, long-term trends
US$ in millions
| 12 months ended: | Net cash provided by operating activities | Net cash (used in) provided by investing activities | Net cash provided by (used in) financing activities |
|---|---|---|---|
| Dec 31, 2021 | 4,338) | (1,894) | (2,900) |
| Dec 31, 2020 | 3,403) | (4,847) | (1,559) |
| Dec 31, 2019 | 3,874) | (2,376) | 1,964) |
| Dec 31, 2018 | 3,570) | (2,169) | (1,508) |
| Dec 31, 2017 | 3,180) | (1,379) | (1,811) |
| Dec 31, 2016 | 2,960) | (1,932) | (1,035) |
| Dec 31, 2015 | 2,498) | (1,608) | (2,155) |
| Dec 31, 2014 | 2,331) | 995) | (2,072) |
| Dec 31, 2013 | 2,455) | (1,900) | (687) |
| Dec 31, 2012 | 2,295) | (1,830) | (530) |
| Dec 31, 2011 | 2,469) | (2,185) | (566) |
| Dec 31, 2010 | 2,275) | (1,606) | (1,273) |
| Dec 31, 2009 | 2,362) | (1,250) | (457) |
| Dec 31, 2008 | 2,575) | (1,183) | (1,256) |
| Dec 31, 2007 | 2,439) | (761) | (1,946) |
| Dec 31, 2006 | 2,540) | (788) | (1,803) |
| Dec 31, 2005 | 2,391) | (1,062) | (1,090) |
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), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
- Operating Activities
- The net cash provided by operating activities generally exhibits an upward trend over the analyzed period. Starting at 2,391 million USD in 2005, the cash flow saw minor fluctuations but showed overall growth, reaching 4,338 million USD by 2021. Notable increases occurred after 2014, with a pronounced rise continuing through 2021, indicating enhanced operational cash generation capacity.
- Investing Activities
- Net cash used in investing activities consistently reflects cash outflows for most years, suggesting continued investments or asset acquisitions. Exceptions occur in 2014, where a significant positive cash inflow of 995 million USD is recorded, indicating possible asset disposals or divestitures. After 2014, the outflows intensified notably in 2020, reaching -4,847 million USD, implying large-scale investments or acquisitions. The overall pattern suggests an aggressive investment strategy, particularly in the latter years.
- Financing Activities
- The net cash provided by (used in) financing activities is characterized by volatility. The data shows mainly negative values, indicating net cash outflows related to financing, with severe reductions seen in 2006 (-1,803 million USD), 2007 (-1,946 million USD), and 2014 (-2,072 million USD). However, 2019 presented a notable positive cash inflow of 1,964 million USD, suggesting capital raising events or debt issuance. The fluctuation and occasional positive spikes suggest variable financing approaches, potentially aligning with investment and operational cash flow needs.
- Summary of Cash Flow Trends
- Overall, operating cash flow has strengthened steadily, indicating improved operational efficiency or profitability. Investing activities predominantly require cash outflows, especially steep in 2020, reflecting substantial investments. Financing activities display irregular patterns with some years of significant cash outflow and occasional inflows, likely reflecting strategic financing decisions to support investing needs and operational growth.
Per Share Data
Waste Management Inc., selected data per share, long-term trends
US$
| 12 months ended: | Basic earnings per share 1 | Diluted earnings per share 2 | Dividend per share 3 |
|---|---|---|---|
| Dec 31, 2021 | 4.32 | 4.29 | 2.30 |
| Dec 31, 2020 | 3.54 | 3.52 | 2.18 |
| Dec 31, 2019 | 3.93 | 3.91 | 2.05 |
| Dec 31, 2018 | 4.49 | 4.45 | 1.86 |
| Dec 31, 2017 | 4.44 | 4.41 | 1.70 |
| Dec 31, 2016 | 2.66 | 2.65 | 1.64 |
| Dec 31, 2015 | 1.66 | 1.65 | 1.54 |
| Dec 31, 2014 | 2.80 | 2.79 | 1.50 |
| Dec 31, 2013 | 0.21 | 0.21 | 1.46 |
| Dec 31, 2012 | 1.76 | 1.76 | 1.42 |
| Dec 31, 2011 | 2.05 | 2.04 | 1.36 |
| Dec 31, 2010 | 1.98 | 1.98 | 1.26 |
| Dec 31, 2009 | 2.02 | 2.01 | 1.16 |
| Dec 31, 2008 | 2.21 | 2.19 | 1.08 |
| Dec 31, 2007 | 2.25 | 2.23 | 0.96 |
| Dec 31, 2006 | 2.13 | 2.10 | 0.66 |
| Dec 31, 2005 | 2.11 | 2.09 | 1.02 |
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), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1, 2, 3 Data adjusted for splits and stock dividends.
The financial data reflects notable fluctuations and trends in earnings and dividend distributions over the analyzed period.
- Earnings Per Share (Basic and Diluted)
- Both basic and diluted earnings per share display similar patterns throughout the years, indicating a consistent relationship between the two metrics. Starting from around $2.11 in basic earnings per share at the end of 2005, earnings showed slight growth until 2007, peaking at approximately $2.25. However, earnings declined gradually after 2007, reaching a significant trough in 2013 with a value as low as $0.21, which represents a pronounced drop and potential extraordinary circumstances affecting profitability that year.
- Following the 2013 low, there is a marked recovery and impressive growth in earnings per share, jumping to $2.80 in 2014 and continuing upward to a peak above $4.40 by 2017 and 2018. After 2018, earnings experienced a moderate decrease, settling around $3.54 to $4.32 by 2020 and 2021 respectively. This post-2013 recovery and subsequent stabilization suggest effective operational improvements or favorable market conditions.
- Dividend Per Share
- Dividends per share demonstrate a steady upward trajectory over the entire period. Starting at $1.02 in 2005, dividends dipped notably to $0.66 in 2006 before resuming growth. From 2007 onwards, dividends rose gradually and consistently, increasing from $0.96 to $2.30 by the end of 2021.
- The continuous dividend growth, despite fluctuations in earnings, indicates a strong commitment to returning value to shareholders and potentially reflects confidence in the company’s long-term cash flow stability and financial health.
Overall, the earnings data reveals periods of volatility, highlighted by a sharp decline and recovery, while dividend payments indicate steady and prudent management of shareholder returns. The divergence in the earnings dip around 2013 followed by growth suggests that the company may have undergone restructuring, faced adverse market conditions, or implemented strategic initiatives to improve profitability. The consistent dividend increase throughout the period underlines a robust shareholder value orientation even during earnings instability.