Waste Management 2007 Annual Report Download - page 90

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WASTE MANAGEMENT, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except per share amounts)
2007 2006 2005
Years Ended December 31,
Operating revenues............................................ $13,310 $13,363 $13,074
Costs and expenses:
Operating ................................................. 8,402 8,587 8,631
Selling, general and administrative . ............................. 1,432 1,388 1,276
Depreciation and amortization .................................. 1,259 1,334 1,361
Restructuring .............................................. 10 — 28
(Income) expense from divestitures, asset impairments and unusual items. . (47) 25 68
11,056 11,334 11,364
Income from operations ........................................ 2,254 2,029 1,710
Other income (expense):
Interest expense ............................................ (521) (545) (496)
Interest income ............................................. 47 69 31
Equity in net losses of unconsolidated entities ...................... (35) (36) (107)
Minority interest............................................ (46) (44) (48)
Other, net ................................................. 4 1 2
(551) (555) (618)
Income before income taxes ..................................... 1,703 1,474 1,092
Provision for (benefit from) income taxes ........................... 540 325 (90)
Net income ................................................. $ 1,163 $ 1,149 $ 1,182
Basic earnings per common share ................................. $ 2.25 $ 2.13 $ 2.11
Diluted earnings per common share . . ............................. $ 2.23 $ 2.10 $ 2.09
Cash dividends declared per common share (2005 includes $0.22 paid in
2006) .................................................... $ 0.96 $ 0.66 $ 1.02
See notes to Consolidated Financial Statements.
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