Waste Management 2012 Annual Report Download - page 220
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WASTE MANAGEMENT, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
WM
WM
Holdings
Non-Guarantor
Subsidiaries Eliminations Consolidated
Year Ended December 31, 2012
Operating revenues ......................... $ — $ — $13,649 $ — $13,649
Costs and expenses ......................... — (7) 11,805 — 11,798
Income from operations ..................... — 7 1,844 — 1,851
Other income (expense):
Interest income (expense) .................. (358) (32) (94) — (484)
Equity in earnings of subsidiaries, net of
taxes ................................. 1,034 1,046 — (2,080) —
Other, net ............................... — — (64) — (64)
676 1,014 (158) (2,080) (548)
Income before income taxes .................. 676 1,021 1,686 (2,080) 1,303
Provision for (benefit from) income taxes ....... (141) (13) 597 — 443
Consolidated net income ..................... 817 1,034 1,089 (2,080) 860
Less: Net income attributable to noncontrolling
interests ................................ — — 43 — 43
Net income attributable to Waste Management,
Inc. .................................... $ 817 $1,034 $ 1,046 $(2,080) $ 817
Year Ended December 31, 2011
Operating revenues ......................... $ — $ — $13,378 $ — $13,378
Costs and expenses ......................... — — 11,350 — 11,350
Income from operations ..................... — — 2,028 — 2,028
Other income (expense):
Interest income (expense) .................. (342) (33) (98) — (473)
Equity in earnings of subsidiaries, net of
taxes ................................. 1,168 1,188 — (2,356) —
Other, net ............................... — — (35) — (35)
826 1,155 (133) (2,356) (508)
Income before income taxes .................. 826 1,155 1,895 (2,356) 1,520
Provision for (benefit from) income taxes ....... (135) (13) 659 — 511
Consolidated net income ..................... 961 1,168 1,236 (2,356) 1,009
Less: Net income attributable to noncontrolling
interests ................................ — — 48 — 48
Net income attributable to Waste Management,
Inc. .................................... $ 961 $1,168 $ 1,188 $(2,356) $ 961
143