Waste Management 2006 Annual Report Download - page 64
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Results of Operations
The following table presents, for the periods indicated, the period-to-period change in dollars (in millions) and
percentages for the respective Consolidated Statement of Operations line items:
Years Ended
December 31,
2006 vs. 2005
Years Ended
December 31,
2005 vs. 2004
Period-to-Period Change
Operating revenues ........................................... $289 2.2% $ 558 4.5%
Costs and expenses:
Operating ................................................ (44) (0.5) 403 4.9
Selling, general and administrative.............................. 112 8.8 9 0.7
Depreciation and amortization ................................. (27) (2.0) 25 1.9
Restructuring ............................................. (28) * 29 *
(Income) expense from divestitures, asset impairments and unusual
items.................................................. (43) * 81 *
(30) (0.3) 547 5.1
Income from operations ....................................... 319 18.7 11 0.6
Other income (expense):
Interest expense, net ........................................ (11) 2.4 (80) 20.8
Equity in net losses of unconsolidated entities ..................... 71 * (9) 9.2
Minority interest ........................................... 4 (8.3) (12) 33.3
Other, net ................................................ (1) * 4 *
63 (10.2) (97) 18.6
Income before income taxes and cumulative effect of change in accounting
principle ................................................. 382 35.0 (86) (7.3)
Provision for (benefit from) income taxes .......................... 415 * (337) *
Income before cumulative effect of change in accounting principle........ $(33) (2.8)% $ 251 27.0%
* Percentage change does not provide a meaningful comparison. Refer to the explanations of these items included
herein for a discussion of the relationship between current year and prior year activity.
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