Waste Management 2007 Annual Report Download - page 149

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CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS — (Continued)
WMI
WM
Holdings
Non-Guarantor
Subsidiaries Eliminations Consolidated
Cash flows from financing activities:
New borrowings . . ....................... — — 432 — 432
Debt repayments . ....................... — (300) (632) — (932)
Common stock repurchases ................. (1,072) — — — (1,072)
Cash dividends . . . ....................... (476) — — — (476)
Exercise of common stock options and warrants . . 295 — — — 295
Minority interest distributions paid and other . . . . 44 — (94) — (50)
(Increase) decrease in intercompany and
investments, net ..................... 1,304 359 (1,634) (29) —
Net cash provided by (used in) financing activities . . 95 59 (1,928) (29) (1,803)
Effect of exchange rate changes on cash and cash
equivalents. ............................ — — (1) — (1)
Decrease in cash and cash equivalents ........... (23) — — (29) (52)
Cash and cash equivalents at beginning of period . . . 698 — — (32) 666
Cash and cash equivalents at end of period . ...... $ 675 $ — $ — $ (61) $ 614
Year Ended December 31, 2005
Cash flows from operating activities:
Net income ............................ $1,182 $ 1,355 $ 1,408 $(2,763) $ 1,182
Equity in earnings of subsidiaries, net of taxes . . . (1,355) (1,408) — 2,763 —
Other adjustments. ....................... (17) (8) 1,234 — 1,209
Net cash provided by (used in) operating activities . . (190) (61) 2,642 — 2,391
Cash flows from investing activities:
Acquisition of businesses, net of cash acquired . . . — — (142) — (142)
Capital expenditures ...................... — — (1,180) — (1,180)
Proceeds from divestitures of businesses (net of
cash divested) and other sales of assets. ...... — — 194 — 194
Purchases of short-term investments........... (1,017) — (62) — (1,079)
Proceeds from sales of short-term investments . . . 737 — 47 — 784
Net receipts from restricted trust and escrow
accounts and other, net . ................. — — 361 — 361
Net cash used in investing activities ............ (280) — (782) — (1,062)
Cash flows from financing activities:
New borrowings . . ....................... — — 365 — 365
Debt repayments . ....................... — (138) (238) — (376)
Common stock repurchases ................. (706) — — — (706)
Cash dividends . . . ....................... (449) — — — (449)
Exercise of common stock options and warrants . . 129 — — — 129
Minority interest distributions paid and other . . . . — — (53) — (53)
(Increase) decrease in intercompany and
investments, net ....................... 1,837 199 (2,004) (32) —
Net cash provided by (used in) financing activities . . 811 61 (1,930) (32) (1,090)
Effect of exchange rate changes on cash and cash
equivalents. ............................ — — 3 — 3
Increase (decrease) in cash and cash equivalents. . . . 341 — (67) (32) 242
Cash and cash equivalents at beginning of period . . . 357 — 67 — 424
Cash and cash equivalents at end of period . ...... $ 698 $ — $ — $ (32) $ 666
114
WASTE MANAGEMENT, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)