Waste Management 2014 Annual Report Download - page 226
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WASTE MANAGEMENT, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS (Continued)
WM WM
Holdings Non-Guarantor
Subsidiaries Eliminations Consolidated
Year Ended December 31, 2013
Cash flows from operating activities:
Consolidated net income ................ $ 98 $313 $ 364 $(645) $ 130
Equity in earnings of subsidiaries, net of
taxes .............................. (313) (332) — 645 —
Other adjustments ..................... (2) — 2,327 — 2,325
Net cash provided by (used in) operating
activities ............................... (217) (19) 2,691 — 2,455
Cash flows from investing activities:
Acquisitions of businesses, net of cash
acquired ........................... — — (724) — (724)
Capital expenditures ................... — — (1,271) — (1,271)
Proceeds from divestitures of businesses and
other assets (net of cash divested) ....... — — 138 — 138
Net receipts from restricted trust and escrow
accounts and other, net ................ — — (43) — (43)
Net cash provided by (used in) investing
activities ............................... — — (1,900) — (1,900)
Cash flows from financing activities:
New borrowings ....................... 1,140 — 1,092 — 2,232
Debt repayments ...................... (1,120) — (957) — (2,077)
Common stock repurchases .............. (239) — — — (239)
Cash dividends ........................ (683) — — — (683)
Exercise of common stock options ........ 132 — — — 132
Acquisitions of and distributions paid to
noncontrolling interests and other ....... 14 — (66) — (52)
(Increase) decrease in intercompany and
investments, net ..................... 913 19 (932) — —
Net cash provided by (used in) financing
activities ............................... 157 19 (863) — (687)
Effect of exchange rate changes on cash and cash
equivalents ............................. — — (4) — (4)
Increase (decrease) in cash and cash
equivalents ............................. (60) — (76) — (136)
Cash and cash equivalents at beginning of year . . 60 — 134 — 194
Cash and cash equivalents at end of year ....... $ — $— $ 58 $— $ 58
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