Waste Management 2015 Annual Report Download - page 205
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WASTE MANAGEMENT, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
WM WM
Holdings Non-Guarantor
Subsidiaries Eliminations Consolidated
Year Ended December 31, 2015
Cash flows from operating activities:
Consolidated net income (loss) ........... $ 753 $1,245 $ 1,288 $(2,534) $ 752
Equity in earnings of subsidiaries, net of
taxes .............................. (1,245) (1,289) — 2,534 —
Other adjustments ..................... 9 (6) 1,743 — 1,746
Net cash provided by (used in) operating
activities ............................... (483) (50) 3,031 — 2,498
Cash flows from investing activities:
Acquisitions of businesses, net of cash
acquired ........................... — — (554) — (554)
Capital expenditures ................... — — (1,233) — (1,233)
Proceeds from divestitures of businesses and
other assets (net of cash divested) ....... — — 145 — 145
Net receipts from restricted trust and escrow
accounts and other, net ............... — — 34 — 34
Net cash provided by (used in) investing
activities ............................... — — (1,608) — (1,608)
Cash flows from financing activities:
New borrowings ....................... 1,881 — 456 — 2,337
Debt repayments ...................... (1,920) (145) (699) — (2,764)
Premiums paid on early extinguishment of
debt ............................... (503) (52) — — (555)
Common stock repurchases .............. (600) — — — (600)
Cash dividends ........................ (695) — — — (695)
Exercise of common stock options ........ 77 — — — 77
Acquisitions of and distributions paid to
noncontrolling interests and other ....... 9 — 36 — 45
(Increase) decrease in intercompany and
investments, net ..................... 999 247 (1,246) — —
Net cash provided by (used in) financing
activities ............................... (752) 50 (1,453) — (2,155)
Effect of exchange rate changes on cash and cash
equivalents ............................. — — (3) — (3)
Increase (decrease) in cash and cash
equivalents ............................. (1,235) — (33) — (1,268)
Cash and cash equivalents at beginning of year . . 1,235 — 72 — 1,307
Cash and cash equivalents at end of year ....... $ — $ — $ 39 $ — $ 39
142