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Waste Management Inc (WM) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

Waste Management Inc

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CIK: 823768 Ticker: WM

 

EXHIBIT 99.1

 

For Immediate Release

 

 

  
WM Announces Fourth Quarter and Full-Year 2021 Earnings  

Full-Year Results Delivered Record Revenue, Income from Operations and Net Cash Provided by Operating Activities

 

Company’s Strong Performance and Cash Generation Translated into More Than $2.3 Billion Returned to Shareholders during 2021

 

FOR MORE
INFORMATION

 

Waste
Management

 

Web site

www.wm.com

   
HOUSTON — Feb. 2, 2022 —
 Waste Management, Inc. (NYSE: WM) today announced financial results for the quarter and year ended December 31, 2021.

Analysts

Ed Egl

  713.265.1656

  Three Months Ended   Year Ended eegl@wm.com
  December 31, 2021 December 31, 2020   December 31, 2021 December 31, 2020
  (in millions, except per share amounts)   (in millions, except per share amounts)

Media

       
  As
Reported		 As
Adjusted(a)		 As
Reported		 As
Adjusted(a)		   As
Reported		 As
Adjusted(a)		 As
Reported		 As
Adjusted(a)

Toni Werner

media@wm.com

                   

Revenue $4,678 $4,678 $4,067 $4,067   $17,931 $17,931 $15,218 $15,218

                   

Income from Operations $718 $739 $654 $706   $2,965 $3,033 $2,434 $2,650

                   
Operating EBITDA(b) $1,228 $1,249 $1,090 $1,142   $4,964 $5,032 $4,105 $4,321

                     
Operating EBITDA Margin 26.3% 26.7% 26.8% 28.1%   27.7% 28.1% 27.0% 28.4%  

 

Net Income(c)

 $506 $528 $438 $481   $1,816 $2,046 $1,496 $1,713  
                     
Diluted EPS $1.20 $1.26 $1.03 $1.13   $4.29 $4.84 $3.52 $4.03  
   
“In 2021, we delivered on each of our strategic priorities, including successfully integrating the acquisition of Advanced Disposal, driving disciplined organic revenue growth, advancing technology investments focused on customer retention and growth, and cultivating our people-first culture,” said Jim Fish, Waste Management’s President and Chief Executive Officer. Execution on each of these priorities came together to produce record growth in full-year adjusted operating EBITDA and net cash provided by operating activities.”(a)  
   
Fish continued, “As we look ahead to 2022, we remain committed to continuing pricing excellence, advancing technology investments to differentiate the Company, automating our processes to reduce our cost to serve, providing the best workplace, and leveraging our sustainability platform for growth. In 2022, we expect to deliver another strong year of adjusted operating EBITDA growth of approximately 7%.”(a)  

 

The following information was filed by Waste Management Inc (WM) on Wednesday, February 2, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Waste Management Inc's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statement Of Changes In Equity (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Cash Flows (Parenthetical)
Condensed Consolidated Statements Of Changes In Equity
Condensed Consolidated Statements Of Comprehensive Income
Condensed Consolidated Statements Of Operations
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) (Tables)
Accumulated Other Comprehensive Loss - Changes (Detail)
Accumulated Other Comprehensive Loss - Tax Impact (Detail)
Acquisitions And Divestitures
Acquisitions And Divestitures (Detail)
Acquisitions And Divestitures (Tables)
Acquisitions And Divestitures - Divestitures (Detail)
Acquisitions And Divestitures - Intangible Allocation (Detail)
Acquisitions And Divestitures - Pro Forma (Detail)
Acquisitions And Divestitures - Purchase Allocation (Detail)
Asset Impairments And Unusual Items
Asset Impairments And Unusual Items (Tables)
Asset Impairments And Unusual Items - Components (Detail)
Asset Impairments And Unusual Items - Details (Details)
Basis Of Presentation
Basis Of Presentation (Detail)
Capital Stock, Dividends And Common Stock Repurchase Program
Capital Stock, Dividends And Common Stock Repurchase Program (Tables)
Capital Stock, Dividends And Common Stock Repurchase Program - Repurchases (Detail)
Capital Stock, Dividends And Common Stock Repurchase Program - Stock (Detail)
Commitments And Contingencies
Commitments And Contingencies (Detail)
Commitments And Contingencies (Tables)
Commitments And Contingencies - Obligations (Detail)
Commitments And Contingencies - Other (Details)
Debt
Debt (Tables)
Debt - Borrowings And Repayments (Detail)
Debt - Classification And Utilization (Detail)
Debt - Components (Detail)
Debt - Covenants (Detail)
Earnings Per Share
Earnings Per Share (Detail)
Earnings Per Share (Tables)
Employee Benefit Plans
Employee Benefit Plans (Tables)
Employee Benefit Plans - (Detail)
Employee Benefit Plans - Multiemployer (Detail)
Employee Benefit Plans - Multiemployer Info (Detail)
Equity-Based Compensation
Equity-Based Compensation (Detail)
Equity-Based Compensation (Tables)
Equity-Based Compensation - Assumptions (Detail)
Equity-Based Compensation - Exercise Price (Detail)
Equity-Based Compensation - Psus (Detail)
Equity-Based Compensation - Rsus (Detail)
Equity-Based Compensation - Stock Options (Detail)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Debt (Detail)
Fair Value Measurements - Recurring (Detail)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (Tables)
Goodwill And Other Intangible Assets - Goodwill (Detail)
Goodwill And Other Intangible Assets - Intangibles (Detail)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Detail)
Income Taxes - Carryforward (Detail)
Income Taxes - Deferred Tax Assets (Liabilities) (Detail)
Income Taxes - Income Source (Detail)
Income Taxes - Provision For Income Taxes (Detail)
Income Taxes - Reconciliation (Detail)
Income Taxes - Unrecognized Tax Benefits (Detail)
Landfill And Environmental Remediation Liabilities
Landfill And Environmental Remediation Liabilities (Tables)
Landfill And Environmental Remediation Liabilities - Changes (Detail)
Landfill And Environmental Remediation Liabilities - Est Payments (Detail)
Landfill And Environmental Remediation Liabilities - Summary (Detail)
Leases
Leases (Detail)
Leases (Tables)
Leases - Balance Sheet (Detail)
Leases - Cash Flow (Detail)
Leases - Maturities (Detail)
Leases - Other (Detail)
Property And Equipment
Property And Equipment (Tables)
Property And Equipment - Expense (Detail)
Property And Equipment - Property And Equipment (Detail)
Segment And Related Information
Segment And Related Information (Tables)
Segment And Related Information - Geographical (Detail)
Segment And Related Information - Goodwill (Detail)
Segment And Related Information - Information (Detail)
Segment And Related Information - Revenues Mix (Detail)
Segment And Related Information - Summary (Detail)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Capitalized Interest (Details)
Summary Of Significant Accounting Policies - Credit Loss (Details)
Summary Of Significant Accounting Policies - Foreign Currency (Detail)
Summary Of Significant Accounting Policies - Intangibles (Detail)
Summary Of Significant Accounting Policies - Investments (Detail)
Summary Of Significant Accounting Policies - Landfill (Detail)
Summary Of Significant Accounting Policies - Property And Equipment (Detail)
Summary Of Significant Accounting Policies - Revenue Recognition (Details)
Summary Of Significant Accounting Policies - Supplemental Cash Flow (Detail)
Variable Interest Entities
Variable Interest Entities (Detail)
Ticker: WM
CIK: 823768
Form Type: 10-K Annual Report
Accession Number: 0001558370-22-001179
Submitted to the SEC: Tue Feb 15 2022 2:22:45 PM EST
Accepted by the SEC: Tue Feb 15 2022
Period: Friday, December 31, 2021
Industry: Refuse Systems

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