Waste Management 2007 Annual Report Download - page 147

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CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
WMI
WM
Holdings
Non-Guarantor
Subsidiaries Eliminations Consolidated
Year Ended December 31, 2007
Operating revenues ................... $ — $ — $13,310 $ — $13,310
Costs and expenses ................... — — 11,056 — 11,056
Income from operations ................ — — 2,254 — 2,254
Other income (expense):
Interest income (expense) ............. (291) (66) (117) — (474)
Equity in subsidiaries, net of taxes ...... 1,347 1,389 — (2,736) —
Minority interest ................... — — (46) — (46)
Equity in net losses of unconsolidated
entities and other, net .............. — — (31) — (31)
1,056 1,323 (194) (2,736) (551)
Income before income taxes ............. 1,056 1,323 2,060 (2,736) 1,703
Provision for (benefit from) income taxes . . . (107) (24) 671 — 540
Net income ......................... $1,163 $1,347 $ 1,389 $(2,736) $ 1,163
Year Ended December 31, 2006
Operating revenues ................... $ — $ — $13,363 $ — $13,363
Costs and expenses ................... — — 11,334 — 11,334
Income from operations ................ — — 2,029 — 2,029
Other income (expense):
Interest income (expense) ............. (287) (79) (110) — (476)
Equity in subsidiaries, net of taxes ...... 1,331 1,381 — (2,712) —
Minority interest ................... — — (44) — (44)
Equity in net losses of unconsolidated
entities and other, net .............. — — (35) — (35)
1,044 1,302 (189) (2,712) (555)
Income before income taxes ............. 1,044 1,302 1,840 (2,712) 1,474
Provision for (benefit from) income taxes . . . (105) (29) 459 — 325
Net income ......................... $1,149 $1,331 $ 1,381 $(2,712) $ 1,149
Year Ended December 31, 2005
Operating revenues ................... $ — $ — $13,074 $ — $13,074
Costs and expenses ................... — — 11,364 — 11,364
Income from operations ................ — — 1,710 — 1,710
Other income (expense):
Interest income (expense) ............. (272) (84) (109) — (465)
Equity in subsidiaries, net of taxes ...... 1,355 1,408 — (2,763) —
Minority interest ................... — — (48) — (48)
Equity in net losses of unconsolidated
entities and other, net .............. — — (105) — (105)
1,083 1,324 (262) (2,763) (618)
Income before income taxes ............. 1,083 1,324 1,448 (2,763) 1,092
Provision for (benefit from) income taxes . . . (99) (31) 40 — (90)
Net income ......................... $1,182 $1,355 $ 1,408 $(2,763) $ 1,182
112
WASTE MANAGEMENT, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)