Waste Management 2012 Annual Report Download - page 152

WASTE MANAGEMENT, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In Millions, Except per Share Amounts)
Years Ended December 31,
2012 2011 2010
Operating revenues:
Service revenues ................................................ $12,327 $11,852 $11,371
Tangible product revenues ........................................ 1,322 1,526 1,144
Total operating revenues ....................................... 13,649 13,378 12,515
Costs and expenses:
Operating costs (exclusive of depreciation and amortization shown below):
Cost of services .............................................. 7,765 7,254 6,854
Cost of tangible products ....................................... 1,114 1,287 970
Total operating costs ........................................ 8,879 8,541 7,824
Selling, general and administrative ................................. 1,472 1,551 1,461
Depreciation and amortization ..................................... 1,297 1,229 1,194
Restructuring .................................................. 67 19 (2)
(Income) expense from divestitures, asset impairments and unusual items . . 83 10 (78)
11,798 11,350 10,399
Income from operations ............................................ 1,851 2,028 2,116
Other income (expense):
Interest expense ................................................ (488) (481) (473)
Interest income ................................................. 4 8 4
Equity in net losses of unconsolidated entities ........................ (46) (31) (21)
Other, net ..................................................... (18) (4) 5
(548) (508) (485)
Income before income taxes ......................................... 1,303 1,520 1,631
Provision for income taxes .......................................... 443 511 629
Consolidated net income ........................................... 860 1,009 1,002
Less: Net income attributable to noncontrolling interests ................ 43 48 49
Net income attributable to Waste Management, Inc. ..................... $ 817 $ 961 $ 953
Basic earnings per common share .................................... $ 1.76 $ 2.05 $ 1.98
Diluted earnings per common share ................................... $ 1.76 $ 2.04 $ 1.98
Cash dividends declared per common share ............................ $ 1.42 $ 1.36 $ 1.26
See notes to Consolidated Financial Statements.
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