Waste Management 2014 Annual Report Download - page 211

WASTE MANAGEMENT, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
The following table presents the carrying amounts of our Wheelabrator business as of December 19, 2014
(in millions):
Accounts and other receivables ......................... $ 90
Parts and supplies .................................... 65
Deferred income taxes ................................ 1
Other assets ........................................ 12
Total current assets ............................... 168
Property and equipment ............................... 1,155
Goodwill ........................................... 305
Other intangible assets ................................ 3
Other assets ........................................ 215
Total assets ..................................... $1,846
Accounts payable .................................... $ 23
Accrued liabilities ................................... 20
Deferred revenues ................................... 1
Current portion of long-term debt ....................... 1
Total current liabilities ............................ 45
Long-term debt, less current portion ..................... 14
Deferred income taxes ................................ 344
Landfill and environmental remediation liabilities .......... 18
Other liabilities ...................................... 19
Total liabilities .................................. $ 440
Noncontrolling interests ............................... $ 31
Other Divestitures
In the second quarter of 2014, we sold our Puerto Rico operations and certain other collection and landfill
assets which were included in Tier 3 and Tier 1, respectively, of our Solid Waste business. We received proceeds
from the sale of $80 million, consisting of $65 million of cash and $15 million of preferred stock and recognized
a loss on the sale of $25 million.
In the third quarter of 2014, we sold certain landfill and collection operations in our Eastern Canada Area,
which were included in Tier 3. We received cash proceeds from the sale of $39 million and recognized a gain of
$18 million.
The gain or loss on these divestitures is included within “(Income) expense from divestitures, asset
impairments (other than goodwill) and unusual items” in the Consolidated Statement of Operations. The
remaining proceeds from divestitures in 2014 were comprised substantially of cash.
Prior Year Divestitures
The aggregate sales price for divestitures of operations was $70 million in 2013 and $7 million in 2012 and
proceeds from these divestitures were comprised substantially of cash. We recognized net gains on these
divestitures of $8 million and less than $1 million in 2013, and 2012, respectively. These divestitures were made
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