Waste Management 2015 Annual Report Download - page 157

WASTE MANAGEMENT, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
5. Property and Equipment
Property and equipment at December 31 consisted of the following (in millions):
2015 2014
Land ............................................ $ 592 $ 611
Landfills ........................................ 13,772 13,463
Vehicles ......................................... 4,257 4,131
Machinery and equipment ........................... 2,499 2,470
Containers ....................................... 2,426 2,377
Buildings and improvements ......................... 2,546 2,588
Furniture, fixtures and office equipment ................ 993 985
27,085 26,625
Less accumulated depreciation on tangible property and
equipment ..................................... (8,495) (8,278)
Less accumulated landfill airspace amortization ......... (7,925) (7,690)
$10,665 $10,657
Depreciation and amortization expense, including amortization expense for assets recorded as capital leases,
was comprised of the following for the years ended December 31 (in millions):
2015 2014 2013
Depreciation of tangible property and equipment .......... $ 760 $ 834 $ 853
Amortization of landfill airspace ....................... 409 380 400
Depreciation and amortization expense .............. $1,169 $1,214 $1,253
6. Goodwill and Other Intangible Assets
Goodwill was $5,984 million as of December 31, 2015 compared with $5,740 million as of December 31,
2014. The $244 million increase in goodwill during 2015 is primarily related to acquisitions, offset in part by the
effect of foreign currency translation adjustments related to the goodwill associated with our Canadian
operations. See Notes 19 and 21 for additional information.
As discussed more fully in Note 3, we perform our annual impairment test of our goodwill balances using a
measurement date of October 1. We will also perform interim tests if an impairment indicator exists such that the
fair value of a reporting unit could potentially be less than its carrying amount. We did not encounter any events
or changes in circumstances that indicated that an impairment was more likely than not during interim periods in
2015, 2014 or 2013.
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