Waste Management 2014 Annual Report Download - page 108

Item 6. Selected Financial Data.
The information below was derived from the audited Consolidated Financial Statements included in this
report and in previous annual reports we filed with the SEC. This information should be read together with those
Consolidated Financial Statements and the notes thereto. The adoption of new accounting pronouncements and
certain reclassifications impact the comparability of the financial information presented below. These historical
results are not necessarily indicative of the results to be expected in the future.
Years Ended December 31,
2014(a) 2013(a) 2012(a) 2011 2010
(In millions, except per share amounts)
Statement of Operations Data:
Operating revenues ................................. $13,996 $13,983 $13,649 $13,378 $12,515
Costs and expenses:
Operating .................................... 9,002 9,112 8,879 8,541 7,824
Selling, general and administrative ................ 1,481 1,468 1,472 1,551 1,461
Depreciation and amortization .................... 1,292 1,333 1,297 1,229 1,194
Restructuring ................................. 82 18 67 19 (2)
Goodwill impairments .......................... 10 509 4 1 —
(Income) expense from divestitures, asset impairments
(other than goodwill) and unusual items .......... (170) 464 79 9 (78)
11,697 12,904 11,798 11,350 10,399
Income from operations ............................. 2,299 1,079 1,851 2,028 2,116
Other expense, net ................................. (548) (585) (548) (508) (485)
Income before income taxes .......................... 1,751 494 1,303 1,520 1,631
Provision for income taxes ........................... 413 364 443 511 629
Consolidated net income ............................ 1,338 130 860 1,009 1,002
Less: Net income attributable to noncontrolling interests . . . 40 32 43 48 49
Net income attributable to Waste Management, Inc. ....... $ 1,298 $ 98 $ 817 $ 961 $ 953
Basic earnings per common share ..................... $ 2.80 $ 0.21 $ 1.76 $ 2.05 $ 1.98
Diluted earnings per common share .................... $ 2.79 $ 0.21 $ 1.76 $ 2.04 $ 1.98
Cash dividends declared per common share ............. $ 1.50 $ 1.46 $ 1.42 $ 1.36 $ 1.26
Balance Sheet Data (at end of period):
Working capital (deficit) ............................ $ 156 $ (515) $ (613) $ (689) $ (3)
Goodwill and other intangible assets, net ............... 6,180 6,599 6,688 6,672 6,021
Total assets ....................................... 21,412 22,603 23,097 22,569 21,476
Debt, including current portion ....................... 9,435 10,226 9,916 9,756 8,907
Total Waste Management, Inc. stockholders’ equity ....... 5,866 5,707 6,354 6,070 6,260
Total equity ...................................... 5,889 6,002 6,675 6,390 6,591
(a) For more information regarding these financial data, see Item 7. Management’s Discussion and Analysis of
Financial Condition and Results of Operations included in this report. For disclosures associated with the
impact of the adoption of new accounting pronouncements on the comparability of this information, see
Note 2 to the Consolidated Financial Statements.
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