Waste Management 2009 Annual Report Download - page 192
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CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
WMI
WM
Holdings
Non-Guarantor
Subsidiaries Eliminations Consolidated
Year Ended December 31, 2009
Cash flows from operating activities:
Consolidated net income ............. $ 994 $1,157 $ 1,248 $(2,339) $ 1,060
Equity in earnings of subsidiaries, net of
taxes .......................... (1,157) (1,182) — 2,339 —
Other adjustments .................. 26 (3) 1,279 — 1,302
Net cash provided by (used in) operating
activities ......................... (137) (28) 2,527 — 2,362
Cash flows from investing activities:
Acquisitions of businesses, net of cash
acquired ....................... — — (281) — (281)
Capital expenditures ................ — — (1,179) — (1,179)
Proceeds from divestitures of businesses
(net of cash divested) and other sales
of assets ....................... — — 28 — 28
Net receipts from restricted trust and
escrow accounts and other, net....... — — 182 — 182
Net cash used in investing activities ...... — — (1,250) — (1,250)
Cash flows from financing activities:
New borrowings ................... 1,385 — 364 — 1,749
Debt repayments ................... (810) — (525) — (1,335)
Common stock repurchases ........... (226) — — — (226)
Cash dividends .................... (569) — — — (569)
Exercise of common stock options...... 20 — — — 20
Distributions paid to noncontrolling
interests and other ................ 3 — (99) — (96)
(Increase) decrease in intercompany and
investments, net.................. 977 28 (1,005) — —
Net cash provided by (used in) financing
activities ......................... 780 28 (1,265) — (457)
Effect of exchange rate changes on cash
and cash equivalents ................ — — 5 — 5
Increase in cash and cash equivalents ..... 643 — 17 — 660
Cash and cash equivalents at beginning of
period........................... 450 — 30 — 480
Cash and cash equivalents at end of
period........................... $1,093 $ — $ 47 $ — $ 1,140
124
WASTE MANAGEMENT, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)