Waste Management, Inc., through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It offers collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, material recovery facility (MRF), or disposal site; and owns, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations. As of December 31, 2021, the company owned or operated 255 solid waste landfills; 5 secure hazardous waste landfills; 96 MRFs; and 340 transfer stations. It also provides materials processing and commodities recycling services; recycling brokerage services, such as managing the marketing of recyclable materials for third parties; and other strategic business solutions. In addition, the company offers construction and remediation services; services related with the disposal of fly ash, and residue generated from the combustion of coal and other fuel stocks; in-plant services comprising full-service waste management solutions and consulting services; and specialized disposal services for oil and gas exploration and production operations. The company was formerly known as USA Waste Services, Inc. and changed its name to Waste Management, Inc. in 1998. Waste Management, Inc. was incorporated in 1987 and is headquartered in Houston, Texas.

Waste Management, Inc.

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Income from Operations

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Interest Income

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Other, Net

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Net Income

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Consolidated Net Income

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Less: Net Income Attributable to Noncontrolling Interests

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Net Income Attributable to Waste Management

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Total Revenues

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Revenue

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Net Interest Income

Assets

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Adjusted Funds From Operations

Income Statement	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Total Revenues	24,784	22,063	20,426	19,698	17,931	15,218	15,455	14,914	14,485	13,609	12,961
Total Revenues %Chg	15.9%	8%	3.7%	9.9%	17.8%	-1.5%	3.6%	3%	6.4%	5%	-7.4%
Service Revenues
Tangible Product Revenues
Cost of Sales	14,872	13,383	12,606	12,294	11,111	9,341	9,496	9,249	9,021	8,486	8,231
Cost of Services
Cost of Tangible Products
Gross Profit	9,912	8,680	7,820	7,404	6,820	5,877	5,959	5,665	5,464	5,123	4,730
Gross Profit Margin	40%	39.3%	38.3%	37.6%	38%	38.6%	38.6%	38%	37.7%	37.6%	36.5%
Selling, General & Administrative Expenses	2,795	2,264	1,926	1,938	1,864	1,728	1,631	1,453	1,468	1,410	1,343
Selling, General and Administrative
Depreciation & Amortization Expenses	2,745	2,267	2,071	2,038	1,999	1,671	1,574	1,477	1,376	1,301	1,245
Depreciation, Depletion and Amortization
Other Operating Expenses	300	86	248	63	-8	44	48	-54	-16	116	97
Restructuring
Goodwill Impairments
Loss from Divestitures, Asset Impairments and Unusual Items, Net
Operating Profit	4,072	4,063	3,575	3,365	2,965	2,434	2,706	2,789	2,636	2,296	2,045
Income from Operations
Operating Margin	16.4%	18.4%	17.5%	17.1%	16.5%	16%	17.5%	18.7%	18.2%	16.9%	15.8%
Interest and Investment Income	—	—	—	—	—	—	—	—	—	—	—
Interest Income
Interest Expense	-890	-598	-500	-378	-365	-425	-411	-374	-363	-376	-385
Interest Expense, Net
Non-Operating Income	16	-7	-54	-69	-251	-116	-190	-39	-82	-98	-600
Loss on Early Extinguishment of Debt, Net
Equity in Net Income of Unconsolidated Entities
Minority Interest
Other, Net
Total Non-Operating Income	-874	-605	-554	-447	-616	-541	-601	-413	-445	-474	-985
Income Before Provision for Income Taxes	3,191	3,458	3,021	2,918	2,349	1,893	2,105	2,376	2,191	1,822	1,060
Income Before Income Taxes
Provision for Income Taxes	626	713	745	678	532	397	434	453	242	642	308
Income Tax Expense
Consolidated Net Income	2,565	2,745	2,276	2,240	1,817	1,496	1,671	1,923	1,949	1,180	752
Consolidated Net Income
Net Income
Net Income Attributable to Minority Interests and Other	2	-1	-28	2	1	—	1	-2	—	-2	-1
Less: Net Income Attributable to Noncontrolling Interests
Net Income Attributable to Common Shareholders	2,564	2,746	2,304	2,238	1,816	1,496	1,670	1,925	1,949	1,182	753
Net Income Attributable to Waste Management
Basic EPS	6.4	6.8	5.7	5.4	4.3	3.5	3.9	4.5	4.4	2.7	1.7
Diluted EPS	6.4	6.8	5.7	5.4	4.3	3.5	3.9	4.5	4.4	2.7	1.7
Basic Weighted Average Shares Outstanding	402.4	401.5	404.9	412.8	420.4	423	424.6	429.1	438.8	443.5	452.7
Total Shares Outstanding	402.9	401.5	401.5	407.9	416.1	422.8	424.3	424	433.3	439.3	447.2
Diluted Weighted Average Shares Outstanding	404	403.4	406.9	415	422.9	425.1	427.5	432.2	441.9	446.5	455.9
EBITDA	6,817	6,330	5,646	5,403	4,964	4,105	4,280	4,266	4,012	3,597	3,290
Effective Tax Rate	19.6%	20.6%	24.7%	23.2%	22.6%	21%	20.6%	19.1%	11%	35.2%	29.1%