Waste Management 2008 Annual Report Download - page 93
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CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except per share amounts)
2008 2007 2006
Years Ended December 31,
Operating revenues............................................ $13,388 $13,310 $13,363
Costs and expenses:
Operating ................................................. 8,466 8,402 8,587
Selling, general and administrative . ............................. 1,477 1,432 1,388
Depreciation and amortization .................................. 1,238 1,259 1,334
Restructuring .............................................. 2 10 —
(Income) expense from divestitures, asset impairments and unusual items. . (29) (47) 25
11,154 11,056 11,334
Income from operations ........................................ 2,234 2,254 2,029
Other income (expense):
Interest expense ............................................ (455) (521) (545)
Interest income ............................................. 19 47 69
Equity in net losses of unconsolidated entities ...................... (4) (35) (36)
Minority interest............................................ (41) (46) (44)
Other, net ................................................. 3 4 1
(478) (551) (555)
Income before income taxes ..................................... 1,756 1,703 1,474
Provision for income taxes ...................................... 669 540 325
Net income ................................................. $ 1,087 $ 1,163 $ 1,149
Basic earnings per common share ................................. $ 2.21 $ 2.25 $ 2.13
Diluted earnings per common share . . ............................. $ 2.19 $ 2.23 $ 2.10
Cash dividends declared per common share (2006 excludes $0.22 declared in
2005, but paid in 2006)....................................... $ 1.08 $ 0.96 $ 0.66
See notes to Consolidated Financial Statements.
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