Waste Management 2008 Annual Report Download - page 149
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Please find page 149 of the 2008 Waste Management annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
WMI
WM
Holdings
Non-Guarantor
Subsidiaries Eliminations Consolidated
Year Ended December 31, 2008
Cash flows from operating activities:
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,087 $ 1,254 $ 1,278 $(2,532) $ 1,087
Equity in earnings of subsidiaries, net of taxes . . . . . . (1,254) (1,278) — 2,532 —
Other adjustments . . . . . . . . . . . . . . . . . . . . . . . . . . (22) (16) 1,526 — 1,488
Net cash provided by (used in) operating activities. . . . . (189) (40) 2,804 — 2,575
Cash flows from investing activities:
Acquisition of businesses, net of cash acquired . . . . . — — (280) — (280)
Capital expenditures . . . . . . . . . . . . . . . . . . . . . . . . — — (1,221) — (1,221)
Proceeds from divestitures of businesses (net of cash
divested) and other sales of assets . . . . . . . . . . . . . — — 112 — 112
Net receipts from restricted trust and escrow accounts
and other, net . . . . . . . . . . . . . . . . . . . . . . . . . . . (2) — 208 — 206
Net cash used in investing activities . . . . . . . . . . . . . . . (2) — (1,181) — (1,183)
Cash flows from financing activities:
New borrowings . . . . . . . . . . . . . . . . . . . . . . . . . . . 944 — 581 — 1,525
Debt repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . (760) (244) (781) — (1,785)
Common stock repurchases . . . . . . . . . . . . . . . . . . . (410) — — — (410)
Cash dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . . (531) — — — (531)
Exercise of common stock options and warrants. . . . . 37 — — — 37
Minority interest distributions paid and other . . . . . . . 7 — (99) — (92)
(Increase) decrease in intercompany and investments,
net. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 938 284 (1,290) 68 —
Net cash provided by (used in) financing activities. . . . . 225 40 (1,589) 68 (1,256)
Effect of exchange rate changes on cash and cash
equivalents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — (4) — (4)
Increase in cash and cash equivalents . . . . . . . . . . . . . . 34 — 30 68 132
Cash and cash equivalents at beginning of period. . . . . . 416 — — (68) 348
Cash and cash equivalents at end of period . . . . . . . . . . $ 450 $ — $ 30 $ — $ 480
Year Ended December 31, 2007
Cash flows from operating activities:
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,163 $ 1,347 $ 1,389 $(2,736) $ 1,163
Equity in earnings of subsidiaries, net of taxes . . . . . . (1,347) (1,389) — 2,736 —
Other adjustments . . . . . . . . . . . . . . . . . . . . . . . . . . (53) (3) 1,332 — 1,276
Net cash provided by (used in) operating activities. . . . . (237) (45) 2,721 — 2,439
Cash flows from investing activities:
Acquisition of businesses, net of cash acquired . . . . . — — (90) — (90)
Capital expenditures . . . . . . . . . . . . . . . . . . . . . . . . — — (1,211) — (1,211)
Proceeds from divestitures of businesses (net of cash
divested) and other sales of assets . . . . . . . . . . . . . — — 278 — 278
Purchases of short-term investments . . . . . . . . . . . . . (1,220) — — — (1,220)
Proceeds from sales of short-term investments . . . . . . 1,404 — — — 1,404
Net receipts from restricted trust and escrow accounts
and other, net . . . . . . . . . . . . . . . . . . . . . . . . . . . — (4) 82 — 78
Net cash provided by (used in) investing activities . . . . . 184 (4) (941) — (761)
Cash flows from financing activities:
New borrowings . . . . . . . . . . . . . . . . . . . . . . . . . . . 300 — 644 — 944
Debt repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . (352) — (848) — (1,200)
Common stock repurchases . . . . . . . . . . . . . . . . . . . (1,421) — — — (1,421)
Cash dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . . (495) — — — (495)
Exercise of common stock options and warrants. . . . . 142 — — — 142
Minority interest distributions paid and other . . . . . . . 26 — 58 — 84
(Increase) decrease in intercompany and
investments, net . . . . . . . . . . . . . . . . . . . . . . . . 1,594 49 (1,636) (7) —
Net cash provided by (used in) financing activities. . . . . (206) 49 (1,782) (7) (1,946)
115
WASTE MANAGEMENT, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)