Waste Management 2015 Annual Report Download - page 179
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WASTE MANAGEMENT, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
Equity in net losses of unconsolidated entities
During the year ended December 31, 2014, we recognized charges of $11 million primarily to write down
equity method investments in waste diversion technology companies to their fair value.
Other income (expense)
During the years ended December 31, 2015, 2014 and 2013, we recognized impairment charges of $5
million, $22 million and $71 million, respectively, related to other-than-temporary declines in the value of
investments in waste diversion technology companies accounted for under the cost method. We wrote down our
investments to their fair value which was primarily determined using an income approach based on estimated
future cash flow projections and, to a lesser extent, third-party investors’ recent transactions in these securities.
Partially offsetting the 2013 charges was a $4 million gain on the sale of a similar investment.
Also, during the year ended December 31, 2014, we sold our investment in Shanghai Environment Group,
which was part of our Wheelabrator business. We received cash proceeds from the sale of $155 million, which
have been included in “Proceeds from divestitures of businesses and other assets (net of cash divested)” within
“Net cash provided by (used in) investing activities” in the Consolidated Statement of Cash Flows. The losses
recognized related to the sale were not material.
These net charges are recorded in “Other, net” in our Consolidated Statement of Operations.
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