Waste Management 2008 Annual Report Download - page 84
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Please find page 84 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.•Net debt repayments — Net debt repayments were $260 million in 2008, $256 million in 2007 and
$500 million in 2006. The following summarizes our most significant cash borrowings and debt repayments
made during each year (in millions):
2008 2007 2006
Years Ended December 31,
Borrowings:
Revolving credit facility ............................... $ 350 $ 300 $ —
Canadian credit facility ................................ 581 644 432
Senior notes ........................................ 594 — —
$ 1,525 $ 944 $ 432
Repayments:
Revolving credit facility ............................... $ (371) $ — $ —
Canadian credit facility ................................ (634) (680) (479)
Senior notes ........................................ (633) (300) (300)
Tax exempt bonds .................................... (19) (52) (9)
Tax exempt project bonds .............................. (67) (61) (50)
Capital leases and other debt ............................ (61) (107) (94)
$(1,785) $(1,200) $(932)
Net repayments ........................................ $ (260) $ (256) $(500)
This summary excludes the impacts of non-cash borrowings and debt repayments. For the years ended
December 31, 2008, 2007 and 2006, these non-cash financing activities were primarily associated with our
tax-exempt bond financings. Proceeds from tax-exempt bond issuances, net of principal repayments made
directly from trust funds, were $169 million in 2008, $144 million in 2007 and $157 million in 2006.
•Accrued liabilities for checks written in excess of cash balances — Changes in our accrued liabilities for
checks written in excess of cash balances are reflected as “Other” financing activities in the Consolidated
Statement of Cash Flows. There are significant changes in these accrued liability balances as of each year-
end, which is generally attributable to the timing of cash deposits.
Summary of Contractual Obligations
The following table summarizes our contractual obligations as of December 31, 2008 and the anticipated effect
of these obligations on our liquidity in future years (in millions):
2009 2010 2011 2012 2013 Thereafter Total
Recorded Obligations:
Expected environmental liabilities(a)
Final capping, closure and post-closure. . $ 108 $ 124 $ 84 $ 84 $ 90 $1,776 $ 2,266
Environmental remediation ........... 49 35 24 18 15 152 293
157 159 108 102 105 1,928 2,559
Debt payments(b), (c) ................ 1,184 719 255 583 170 5,277 8,188
Unrecorded Obligations:(d)
Non-cancelable operating lease
obligations ..................... 81 71 58 57 46 272 585
Estimated unconditional purchase
obligations(e) ................... 103 103 65 53 41 269 634
Anticipated liquidity impact as of
December 31, 2008 ............ $1,525 $1,052 $486 $795 $362 $7,746 $11,966
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