Waste Management (WM) 10-Q 28 Apr 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Apr. 18, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Trading Symbol	WM
Entity Registrant Name	WASTE MANAGEMENT INC
Entity Central Index Key	823,768
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		444,261,668

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 104	$ 39
Accounts receivable, net of allowance for doubtful accounts of $26 and $25, respectively	1,532	1,549
Other receivables	456	545
Parts and supplies	92	92
Other assets	118	120
Total current assets	2,302	2,345
Property and equipment, net of accumulated depreciation and amortization of $16,597 and $16,420, respectively	10,796	10,665
Goodwill	6,215	5,984
Other intangible assets, net	645	477
Investments in unconsolidated entities	371	360
Other assets	452	536
Total assets	20,781	20,367
Current liabilities:
Accounts payable	591	721
Accrued liabilities	980	1,064
Deferred revenues	465	472
Current portion of long-term debt	524	253
Total current liabilities	2,560	2,510
Long-term debt, less current portion	9,072	8,676
Deferred income taxes	1,438	1,391
Landfill and environmental remediation liabilities	1,606	1,584
Other liabilities	795	839
Total liabilities	$ 15,471	$ 15,000
Commitments and contingencies
Waste Management, Inc. stockholders' equity:
Common stock, $0.01 par value; 1,500,000,000 shares authorized; 630,282,461 shares issued	$ 6	$ 6
Additional paid-in capital	4,795	4,827
Retained earnings	7,012	6,939
Accumulated other comprehensive income (loss)	(58)	(127)
Treasury stock at cost, 185,558,853 and 183,105,326 shares, respectively	(6,465)	(6,300)
Total Waste Management, Inc. stockholders' equity	5,290	5,345
Noncontrolling interests	20	22
Total equity	5,310	5,367
Total liabilities and equity	$ 20,781	$ 20,367

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 26	$ 25
Accumulated depreciation and amortization	$ 16,597	$ 16,420
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	1,500,000,000	1,500,000,000
Common stock, shares issued	630,282,461	630,282,461
Treasury stock, shares	185,558,853	183,105,326

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Statement [Abstract]
Operating revenues	$ 3,176	$ 3,040
Costs and expenses:
Operating	1,993	1,946
Selling, general and administrative	362	348
Depreciation and amortization	312	292
Restructuring	2	1
(Income) expense from divestitures, asset impairments and unusual items	(1)	13
Total costs and expenses	2,668	2,600
Income from operations	508	440
Other income (expense):
Interest expense, net	(95)	(104)
Loss on early extinguishment of debt	(1)	(550)
Equity in net losses of unconsolidated entities	(7)	(8)
Other, net	(9)
Total other income (expense)	(112)	(662)
Income (loss) before income taxes	396	(222)
Provision for (benefit from) income taxes	140	(91)
Consolidated net income (loss)	256	(131)
Less: Net income (loss) attributable to noncontrolling interests	(2)	(2)
Net income (loss) attributable to Waste Management, Inc.	$ 258	$ (129)
Basic earnings (loss) per common share	$ 0.58	$ (0.28)
Diluted earnings (loss) per common share	0.58	(0.28)
Cash dividends declared per common share	$ 0.410	$ 0.385

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statement of Comprehensive Income [Abstract]
Consolidated net income (loss)	$ 256	$ (131)
Derivative instruments, net	7	3
Available-for-sale securities, net	1
Foreign currency translation adjustments	61	(76)
Other comprehensive income (loss), net of taxes	69	(73)
Comprehensive income (loss)	325	(204)
Less: Comprehensive income (loss) attributable to noncontrolling interests	(2)	(2)
Comprehensive income (loss) attributable to Waste Management, Inc.	$ 327	$ (202)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Consolidated net income (loss)	$ 256	$ (131)
Adjustments to reconcile consolidated net income (loss) to net cash provided by operating activities:
Depreciation and amortization	312	292
Deferred income tax provision	32	38
Interest accretion on landfill liabilities	22	21
Interest accretion on and discount rate adjustments to environmental remediation liabilities and recovery assets	1	1
Provision for bad debts	11	12
Equity-based compensation expense	30	20
Excess tax benefits associated with equity-based transactions	(7)	(7)
Net gain from disposal of assets	(5)	(7)
Effect of (income) expense from divestitures, asset impairments and unusual items and other, net	(1)	13
Equity in net losses of unconsolidated entities, net of dividends	7	8
Loss on early extinguishment of debt	1	550
Change in operating assets and liabilities, net of effects of acquisitions and divestitures:
Receivables	111	(59)
Other current assets	(11)	(4)
Other assets	75	(19)
Accounts payable and accrued liabilities	(109)	(195)
Deferred revenues and other liabilities	(19)	(34)
Net cash provided by operating activities	706	499
Cash flows from investing activities:
Acquisitions of businesses, net of cash acquired	(537)	(445)
Capital expenditures	(317)	(233)
Proceeds from divestitures of businesses and other assets (net of cash divested)	13	19
Net receipts from restricted trust and escrow accounts		34
Other, net	(6)	(3)
Net cash used in investing activities	(847)	(628)
Cash flows from financing activities:
New borrowings	1,301	1,817
Debt repayments	(647)	(2,029)
Premiums paid on early extinguishment of debt	(1)	(554)
Common stock repurchases	(250)
Cash dividends	(183)	(176)
Exercise of common stock options	18	39
Excess tax benefits associated with equity-based transactions	7	7
Other, net	(39)	(2)
Net cash provided by (used in) financing activities	206	(898)
Effect of exchange rate changes on cash and cash equivalents		(3)
Increase (decrease) in cash and cash equivalents	65	(1,030)
Cash and cash equivalents at beginning of period	39	1,307
Cash and cash equivalents at end of period	$ 104	$ 277

Condensed Consolidated Stateme7

Condensed Consolidated Statement of Changes in Equity (Unaudited) - 3 months ended Mar. 31, 2016 - USD ($) shares in Thousands, $ in Millions	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Treasury Stock [Member]	Noncontrolling Interests [Member]
Beginning balance at Dec. 31, 2015	$ 5,367	$ 6	$ 4,827	$ 6,939	$ (127)	$ (6,300)	$ 22
Beginning balance, shares at Dec. 31, 2015		630,282				(183,105)
Consolidated net income (loss)	256			258			(2)
Other comprehensive income (loss), net of taxes	69				69
Cash dividends declared	(183)			(183)
Equity-based compensation transactions, including dividend equivalents, net of taxes	51		(2)	(2)		$ 55
Equity-based compensation transactions, including dividend equivalents, net of taxes, shares						1,596
Common stock repurchases	(250)		(30)			$ (220)
Common stock repurchases, shares						(4,051)
Other, net, shares						1
Ending balance at Mar. 31, 2016	$ 5,310	$ 6	$ 4,795	$ 7,012	$ (58)	$ (6,465)	$ 20
Ending balance, shares at Mar. 31, 2016		630,282				(185,559)

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation	1. Basis of Presentation The financial statements presented in this report represent the consolidation of Waste Management, Inc., a Delaware corporation, and Waste Management’s wholly-owned and majority-owned subsidiaries. Waste Management is a holding company and all operations are conducted by its subsidiaries. When the terms “the Company,” “we,” “us” or “our” are used in this document, those terms refer to Waste Management, Inc. and its consolidated subsidiaries. When we use the term “WM,” we are referring only to Waste Management, Inc., the parent holding company. We are North America’s leading provider of comprehensive waste management environmental services. We partner with our residential, commercial, industrial and municipal customers and the communities we serve to manage and reduce waste at each stage from collection to disposal, while recovering valuable resources and creating clean, renewable energy. Our “Solid Waste” business is operated and managed locally by our subsidiaries that focus on distinct geographic areas and provides collection, transfer, recycling and resource recovery, and disposal services. Through our subsidiaries, we are also a leading developer, operator and owner of landfill gas-to-energy facilities in the United States. We evaluate, oversee and manage the financial performance of our Solid Waste business subsidiaries through our 17 geographic Areas. We also provide additional services that are not managed through our Solid Waste business, which are presented in this report as “Other.” Additional information related to our segments can be found in Note 8. The Condensed Consolidated Financial Statements as of March 31, 2016 and for the three months ended March 31, 2016 and 2015 are unaudited. In the opinion of management, these financial statements include all adjustments, which, unless otherwise disclosed, are of a normal recurring nature, necessary for a fair presentation of the financial position, results of operations, comprehensive income, cash flows, and changes in equity for the periods presented. The results for interim periods are not necessarily indicative of results for the entire year. The financial statements presented herein should be read in connection with the financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2015. In preparing our financial statements, we make numerous estimates and assumptions that affect the accounting for and recognition and disclosure of assets, liabilities, equity, revenues and expenses. We must make these estimates and assumptions because certain information that we use is dependent on future events, cannot be calculated with precision from available data or simply cannot be calculated. In some cases, these estimates are difficult to determine, and we must exercise significant judgment. In preparing our financial statements, the most difficult, subjective and complex estimates and the assumptions that present the greatest amount of uncertainty relate to our accounting for landfills, environmental remediation liabilities, asset impairments, deferred income taxes and reserves associated with our insured and self-insured claims. Actual results could differ materially from the estimates and assumptions that we use in the preparation of our financial statements. Adoption of New Accounting Standards Debt Issuance Costs Consolidation Reclassifications When necessary, reclassifications have been made to our prior period consolidated financial information in order to conform to the current year presentation.

Landfill and Environmental Reme

Landfill and Environmental Remediation Liabilities	3 Months Ended
	Mar. 31, 2016
Text Block [Abstract]
Landfill and Environmental Remediation Liabilities	2. Landfill and Environmental Remediation Liabilities Liabilities for landfill and environmental remediation costs are presented in the table below (in millions): March 31, 2016 December 31, 2015 Landfill Environmental Remediation Total Landfill Environmental Remediation Total Current (in accrued liabilities) $ 110 $ 32 $ 142 $ 112 $ 31 $ 143 Long-term 1,431 175 1,606 1,406 178 1,584 $ 1,541 $ 207 $ 1,748 $ 1,518 $ 209 $ 1,727 The changes to landfill and environmental remediation liabilities for the three months ended March 31, 2016 are reflected in the table below (in millions): Landfill Environmental Remediation December 31, 2015 $ 1,518 $ 209 Obligations incurred and capitalized 13 — Obligations settled (15 ) (5 ) Interest accretion 22 1 Revisions in estimates and interest rate assumptions (1 ) 2 Acquisitions, divestitures and other adjustments 4 — March 31, 2016 $ 1,541 $ 207 At several of our landfills, we provide financial assurance by depositing cash into restricted trust funds or escrow accounts for purposes of settling final capping, closure, post-closure and environmental remediation obligations. Generally, these trust funds are established to comply with statutory requirements and operating agreements. See Note 14 for additional information related to these trusts.

Debt

Debt	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Debt	3. Debt The following table summarizes the major components of debt at each balance sheet date (in millions) and provides the maturities and interest rate ranges of each major category as of March 31, 2016: March 31, 2016 December 31, 2015 $2.25 billion revolving credit facility, maturing July 2020 (weighted average interest rate of 1.4% at March 31, 2016) $ 458 $ 20 Letter of credit facilities, maturing through December 2018 — — Canadian credit facility and term loan, maturing March 2019 (weighted average effective interest rate of 2.0% at March 31, 2016 and 2.2% at December 31, 2015) 353 84 Senior notes maturing through 2045, interest rates ranging from 2.60% to 7.75% (weighted average interest rate of 4.7% at March 31, 2016 and December 31, 2015) 6,039 6,050 Tax-exempt bonds, maturing through 2045, fixed and variable interest rates ranging from 0.4% to 5.7% (weighted average interest rate of 2.0% at March 31, 2016 and 1.9% at December 31, 2015) 2,418 2,447 Capital leases and other, maturing through 2055, interest rates up to 12% 328 328 9,596 8,929 Current portion of long-term debt 524 253 $ 9,072 $ 8,676 Debt Classification As of March 31, 2016, we had $1,140 million of debt with stated maturities within 12 months and $381 million of tax-exempt bonds with term interest rate periods scheduled to expire within the next 12 months. Under U.S. Generally Accepted Accounting Principles (“GAAP”), these debt balances must be reported as “Current portion of long-term debt” unless the Company intends and has the ability to refinance the debt on a long-term basis. We have classified $997 million of these debt balances as long-term as of March 31, 2016 and the remaining $524 million is classified as current obligations. The classification of these debt balances as long-term is based on the following: • The Company intends to refinance the $500 million of 2.6% senior notes that mature in September 2016 on a long-term basis either by issuing new debt or by utilizing the forecasted available capacity of our long-term U.S. revolving credit facility (“$2.25 billion revolving credit facility”). • The Company generally uses available cash to repay borrowings outstanding under the $2.25 billion revolving credit facility and any remaining balances are maintained by extending the maturities of the borrowings. Our current projections indicate that the Company will maintain $116 million of the $458 million of outstanding borrowings for the next 12 months. • The Company expects to successfully remarket the $381 million of tax-exempt bonds with term interest rate periods expiring within the next 12 months. In the event of a failed remarketing, we have the intent and ability to use availability under our $2.25 billion revolving credit facility to fund the debt obligations until they can be remarketed successfully. As of March 31, 2016, we also had $491 million of variable-rate tax-exempt bonds that are supported by letters of credit. The interest rates on these bonds are reset on either a daily or weekly basis through a remarketing process. All recent remarketings have successfully placed Company bonds with investors at reasonable, market-driven rates and we currently expect future remarketings to be successful. However, if the remarketing agent is unable to remarket our bonds, the remarketing agent can put the bonds to us. In the event of a failed remarketing, we have the intent and ability to use availability under our $2.25 billion revolving credit facility to fund the debt obligations until they can be remarketed successfully. Accordingly, we classified these borrowings as long-term in our Condensed Consolidated Balance Sheet at March 31, 2016. Access to and Utilization of Credit Facilities $2.25 Billion Revolving Credit Facility and Other Letter of Credit Facilities Canadian Credit Facility and Term Loan Debt Borrowings and Repayments $2.25 Billion Revolving Credit Facility Canadian Term Loan Senior Notes Tax-Exempt Bonds Senior Notes Refinancing In the first quarter of 2015, we recognized a pre-tax loss of $550 million associated with the early extinguishment of almost $2 billion of our high-coupon senior notes through make whole redemption and cash tender offers. We replaced substantially all of the debt extinguished with new senior notes at significantly lower coupon interest rates and extended the weighted average duration of these debt obligations.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	3 Months Ended
	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	4. Derivative Instruments and Hedging Activities Cash Flow Hedges Foreign Currency Derivatives As of December 31, 2015, we had foreign exchange cross currency swaps outstanding for all of the anticipated cash flows associated with C$370 million of intercompany debt between WM Holdings and its wholly-owned Canadian subsidiaries. As discussed in Note 3, in March 2016, our Canadian subsidiaries repaid the intercompany debt with proceeds from our Canadian term loan. Concurrent with the repayment of the intercompany debt, we terminated the foreign exchange cross currency swaps and received $67 million in cash. The cash received from our termination of the swaps has been classified as a change in “Other current assets” and “Other assets” within “Net cash provided by operating activities” in the Condensed Consolidated Statement of Cash Flows. In addition, we recognized $8 million of expense associated with the termination of these swaps which was included in “Other, net” in the Condensed Consolidated Statement of Operations. These cross currency swaps had been designated as cash flow hedges and as of December 31, 2015, the carrying value of the hedge position was reflected in our Condensed Consolidated Balance Sheet as $15 million of current other assets and $63 million of long-term other assets. Through March 2016 when the intercompany loans and the related hedges were terminated, gains or losses resulting from the remeasurement of the underlying non-functional currency intercompany loans were recognized in current earnings in the same financial statement line item as the offsetting gains or losses on the related cross currency swaps. There was no significant ineffectiveness associated with our cash flow hedges during the reported periods. Forward-Starting Interest Rate Swaps At March 31, 2016 and December 31, 2015, our “Accumulated other comprehensive income (loss)” included $41 million and $43 million, respectively, of after-tax deferred losses related to terminated swaps, which are being amortized as an increase to interest expense using the effective interest method over the ten-year terms of the related senior notes, which extend through 2024. As of March 31, 2016, $11 million of the deferred losses for these previously terminated swaps (on a pre-tax basis) is scheduled to be reclassified as an increase to interest expense over the next 12 months. Refer to Note 11 for information regarding the impacts of our cash flow derivatives on our comprehensive income and results of operations. Fair Value Hedges Interest Rate Swaps We did not have any interest rate swaps outstanding during the reported periods. However, in prior years, we entered into interest rate swaps to maintain a portion of our debt obligations at variable market interest rates and designated these interest rate swaps as fair value hedges of our fixed-rate senior notes. Fair value hedge accounting for interest rate swap contracts increased the carrying value of our debt instruments by $21 million and $23 million as of March 31, 2016 and December 31, 2015, respectively. The remaining fair value adjustments to long-term debt are being amortized as a reduction to interest expense using the effective interest method over the remaining term of the related senior notes, which extend through 2028. We recognized benefits to interest expense associated with the amortization of our terminated interest rate swaps of $2 million for both the three months ended March 31, 2016 and 2015.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	5. Income Taxes Our effective income tax rate for the three months ended March 31, 2016 and 2015 was 35.4% of income before income taxes and 41.0% of the loss before income taxes, respectively. We evaluate our effective income tax rate at each interim period and adjust it as facts and circumstances warrant. The difference between federal income taxes computed at the federal statutory rate and reported income taxes for the three months ended March 31, 2016 was primarily due to the unfavorable impact of state and local income taxes offset by the favorable impact of federal tax credits. The difference between federal income taxes computed at the federal statutory rate and reported income taxes for the three months ended March 31, 2015 was primarily due to the impact of loss on early extinguishment of debt and federal tax credits. Investment in Refined Coal Facility We account for our investment in this entity using the equity method of accounting, recognizing our share of the entity’s results of operations and other reductions in the value of our investment in “Equity in net losses of unconsolidated entities,” within our Condensed Consolidated Statements of Operations. We recognized $1 million of net losses resulting from our share of the entity’s operating losses during both the three months ended March 31, 2016 and 2015. Our tax provision was reduced by $4 million for both the three months ended March 31, 2016 and 2015, primarily as a result of tax credits realized from this investment. See Note 14 for additional information related to this investment. Investment in Low-Income Housing Properties We account for our investment in this entity using the equity method of accounting, recognizing our share of the entity’s results of operations and other reductions in the value of our investment in “Equity in net losses of unconsolidated entities,” within our Condensed Consolidated Statements of Operations. The value of our investment decreases as the tax credits are generated and utilized. During the three months ended March 31, 2016 and 2015, we recognized $5 million and $6 million, respectively, of net losses relating to our equity investment in this entity and $1 million of interest expense for both periods. During the three months ended March 31, 2016 and 2015, we recognized a reduction in our tax provision of $7 million (including $5 million of tax credits) and $7 million (including $4 million of tax credits), respectively. See Note 14 for additional information related to this investment.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Earnings Per Share	6. Earnings Per Share Basic and diluted earnings per share were computed using the following common share data (shares in millions): Three Months Ended March 31, 2016 2015 Number of common shares outstanding at end of period 444.7 457.8 Effect of using weighted average common shares outstanding 1.4 0.7 Weighted average basic common shares outstanding 446.1 458.5 Dilutive effect of equity-based compensation awards and other contingently issuable shares 2.5 — Weighted average diluted common shares outstanding 448.6 458.5 Potentially issuable shares 11.2 11.5 Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding 2.5 11.5

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	7. Commitments and Contingencies Financial Instruments Management does not expect that any claims against or draws on these instruments would have a material adverse effect on our consolidated financial statements. We have not experienced any unmanageable difficulty in obtaining the required financial assurance instruments for our current operations. In an ongoing effort to mitigate risks of future cost increases and reductions in available capacity, we continue to evaluate various options to access cost-effective sources of financial assurance. Insurance We have retained a significant portion of the risks related to our automobile, general liability and workers’ compensation claims programs. “General liability” refers to the self-insured portion of specific third-party claims made against us that may be covered under our commercial General Liability Insurance Policy. For our self-insured retentions, the exposure for unpaid claims and associated expenses, including incurred but not reported losses, is based on an actuarial valuation and internal estimates. The accruals for these liabilities could be revised if future occurrences or loss development significantly differ from our assumptions used. We do not expect the impact of any known casualty, property, environmental or other contingency to have a material impact on our financial condition, results of operations or cash flows. Guarantees We also have guaranteed the obligations and certain performance requirements of, and provided indemnification to, third parties in connection with both consolidated and unconsolidated entities. Guarantee agreements outstanding as of March 31, 2016 (excluding those related to Wheelabrator obligations that are discussed below) include (i) guarantees of unconsolidated entities’ financial obligations maturing through 2020 for maximum future payments of $7 million and (ii) agreements guaranteeing certain market value losses for approximately 850 homeowners’ properties adjacent to or near 21 of our landfills. Our indemnification obligations generally arise from divestitures and provide that we will be responsible for liabilities associated with our operations for events that occurred prior to the sale of the operations. Additionally, under certain of our acquisition agreements, we have provided for additional consideration to be paid to the sellers if established financial targets or other market conditions are achieved post-closing and we have recognized liabilities for these contingent obligations based on an estimate of the fair value of these contingencies at the time of acquisition. We do not currently believe that contingent obligations to provide indemnification or pay additional post-closing consideration in connection with our divestitures or acquisitions will have a material adverse effect on the Company’s business, financial condition, results of operations or cash flows. In December 2014, we sold our Wheelabrator business, which provides waste-to-energy services and manages waste-to-energy facilities and independent power production plants. Before the divestiture of our Wheelabrator business, WM had guaranteed certain operational and financial performance obligations of Wheelabrator and its subsidiaries in the ordinary course of business. In conjunction with the divestiture, certain WM guarantees of Wheelabrator obligations were terminated, but others continued and are now guarantees of third-party obligations. Wheelabrator is working with the various third-party beneficiaries to release WM from these guarantees, but until they are successful, WM has agreed to retain the guarantees and, in exchange, receive a credit support fee. The most significant of these guarantees specifically define WM’s maximum financial obligation over the course of the relevant agreements, and as of December 31, 2015, WM’s maximum future payments associated with those guarantees were $106 million. WM’s exposure under certain of the performance guarantees is variable and a maximum exposure is not defined. We have recorded the fair value of the operational and financial performance guarantees, some of which could extend through 2038 if not terminated, in our Condensed Consolidated Balance Sheets. The estimated fair value of WM’s potential obligation associated with guarantees of Wheelabrator obligations (net of credit support fee) at both March 31, 2016 and December 31, 2015 was $13 million. We currently do not expect the financial impact of such operational and financial performance guarantees to materially exceed the recorded fair value. Environmental Matters Estimating our degree of responsibility for remediation is inherently difficult. We recognize and accrue for an estimated remediation liability when we determine that such liability is both probable and reasonably estimable. Determining the method and ultimate cost of remediation requires that a number of assumptions be made. There can sometimes be a range of reasonable estimates of the costs associated with the likely site remediation alternatives identified in the investigation of the extent of environmental impact. In these cases, we use the amount within the range that constitutes our best estimate. If no amount within a range appears to be a better estimate than any other, we use the amount that is the low end of such range. If we used the high ends of such ranges, our aggregate potential liability would be approximately $190 million higher than the $207 million recorded in the Condensed Consolidated Financial Statements as of March 31, 2016. Our ultimate responsibility may differ materially from current estimates. It is possible that technological, regulatory or enforcement developments, the results of environmental studies, the inability to identify other PRPs, the inability of other PRPs to contribute to the settlements of such liabilities, or other factors could require us to record additional liabilities. Our ongoing review of our remediation liabilities, in light of relevant internal and external facts and circumstances, could result in revisions to our accruals that could cause upward or downward adjustments to income from operations. These adjustments could be material in any given period. As of March 31, 2016, we had been notified by the government that we are a PRP in connection with 75 locations listed on the EPA’s Superfund National Priorities List, or NPL. Of the 75 sites at which claims have been made against us, 15 are sites we own. Each of the NPL sites we own was initially developed by others as a landfill disposal facility. At each of these facilities, we are working in conjunction with the government to evaluate or remediate identified site problems, and we have either agreed with other legally liable parties on an arrangement for sharing the costs of remediation or are working toward a cost-sharing agreement. We generally expect to receive any amounts due from other participating parties at or near the time that we make the remedial expenditures. The other 60 NPL sites, which we do not own, are at various procedural stages under the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended, known as CERCLA or Superfund. The majority of proceedings involving NPL sites that we do not own are based on allegations that certain of our subsidiaries (or their predecessors) transported hazardous substances to the sites, often prior to our acquisition of these subsidiaries. CERCLA generally provides for liability for those parties owning, operating, transporting to or disposing at the sites. Proceedings arising under Superfund typically involve numerous waste generators and other waste transportation and disposal companies and seek to allocate or recover costs associated with site investigation and remediation, which costs could be substantial and could have a material adverse effect on our consolidated financial statements. At some of the sites at which we have been identified as a PRP, our liability is well defined as a consequence of a governmental decision and an agreement among liable parties as to the share each will pay for implementing that remedy. At other sites, where no remedy has been selected or the liable parties have been unable to agree on an appropriate allocation, our future costs are uncertain. Item 103 of the SEC’s Regulation S-K requires disclosure of certain environmental matters when a governmental authority is a party to the proceedings, or such proceedings are known to be contemplated, unless we reasonably believe that the matter will result in no monetary sanctions, or in monetary sanctions, exclusive of interest and costs, of less than $100,000. The following matter is disclosed in accordance with that requirement. On July 10, 2015, Waste Management of Hawaii, Inc. (“WMHI”) entered a plea resolving the April 30, 2014 indictment against WMHI in connection with water discharges at the Waimanalo Gulch Sanitary Landfill, which WMHI operates for the city and county of Honolulu, following three major rainstorms in December 2010 and January 2011. WMHI may face civil claims from the Hawaii Department of Health or the EPA based on the same underlying events, but we do not anticipate such claims could have a material adverse effect on the Company’s business, financial condition, results of operations or cash flows. Litigation From time to time, we are also named as defendants in personal injury and property damage lawsuits, including purported class actions, on the basis of having owned, operated or transported waste to a disposal facility that is alleged to have contaminated the environment or, in certain cases, on the basis of having conducted environmental remediation activities at sites. Some of the lawsuits may seek to have us pay the costs of monitoring of allegedly affected sites and health care examinations of allegedly affected persons for a substantial period of time even where no actual damage is proven. While we believe we have meritorious defenses to these lawsuits, the ultimate resolution is often substantially uncertain due to the difficulty of determining the cause, extent and impact of alleged contamination (which may have occurred over a long period of time), the potential for successive groups of complainants to emerge, the diversity of the individual plaintiffs’ circumstances, and the potential contribution or indemnification obligations of co-defendants or other third parties, among other factors. Additionally, we often enter into agreements with landowners imposing obligations on us to meet certain regulatory or contractual conditions upon site closure or upon termination of the agreements. Compliance with these agreements inherently involves subjective determinations and may result in disputes, including litigation. As a large company with operations across the United States and Canada, we are subject to various proceedings, lawsuits, disputes and claims arising in the ordinary course of our business. Many of these actions raise complex factual and legal issues and are subject to uncertainties. Actions filed against us include commercial, customer, and employment-related claims, including purported class action lawsuits related to our sales and marketing practices and our customer service agreements and purported class actions involving federal and state wage and hour and other laws. The plaintiffs in some actions seek unspecified damages or injunctive relief, or both. These actions are in various procedural stages, and some are covered, in part, by insurance. We currently do not believe that the eventual outcome of any such actions could have a material adverse effect on the Company’s business, financial condition, results of operations or cash flows. WM’s charter and bylaws provide that WM shall indemnify against all liabilities and expenses, and upon request shall advance expenses to any person, who is subject to a pending or threatened proceeding because such person is or was a director or officer of the Company. Such indemnification is required to the maximum extent permitted under Delaware law. Accordingly, the director or officer must execute an undertaking to reimburse the Company for any fees advanced if it is later determined that the director or officer was not entitled to have such fees advanced under Delaware law. Additionally, the Company has direct contractual obligations to provide indemnification to each of the members of WM’s Board of Directors and each of our executive officers and senior vice presidents. The Company may incur substantial expenses in connection with the fulfillment of its advancement of costs and indemnification obligations in connection with actions or proceedings that may be brought against its former or current officers, directors and employees. Multiemployer Defined Benefit Pension Plans Tax Matters

Segment and Related Information

Segment and Related Information	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Segment and Related Information	8. Segment and Related Information We evaluate, oversee and manage the financial performance of our Solid Waste subsidiaries through our 17 Areas. The 17 Areas constitute our operating segments and none of the Areas individually meet the quantitative criteria to be a separate reportable segment. We have evaluated the aggregation criteria and concluded that, based on the similarities between our Areas, including the fact that our Solid Waste business is homogenous across geography with the same services offered across the Areas, aggregation of our Areas is appropriate for purposes of presenting our reportable segments. Accordingly, we have aggregated our 17 Areas into three tiers that we believe have similar economic characteristics and future prospects based in large part on a review of the Areas’ income from operations margins. The economic variations experienced by our Areas are attributable to a variety of factors, including regulatory environment of the Area; economic environment of the Area, including level of commercial and industrial activity; population density; service offering mix and disposal logistics, with no one factor being singularly determinative of an Area’s current or future economic performance. Annually, we analyze the Areas’ income from operations margin for purposes of segment reporting and in the fourth quarter of 2015, we realigned our Solid Waste tiers to reflect changes in their relative economic characteristics and prospects. These changes are the results of various factors including acquisitions, divestments, business mix and the economic climate of various geographies. Reclassifications have been made to our prior period consolidated financial information in order to conform to the current year presentation. Tier 1 is now comprised of our operations across the Southern United States, with the exception of Southern California and the Florida peninsula and also includes the New England states, the tri-state area of Michigan, Indiana and Ohio and Western Canada. Tier 2 includes Southern California, Eastern Canada, Wisconsin, Minnesota and a portion of the lower Mid-Atlantic region of the United States. Tier 3 encompasses all the remaining operations including the Pacific Northwest and Northern California, the majority of the Mid-Atlantic region of the United States, the Florida peninsula, Illinois and Missouri. The operating segments not evaluated and overseen through the 17 Areas are presented herein as “Other” as these operating segments do not meet the criteria to be aggregated with other operating segments and do not meet the quantitative criteria to be separately reported. Summarized financial information concerning our reportable segments is shown in the following table (in millions): Gross Operating Revenues Intercompany Operating Revenues Net Operating Revenues Income from Operations Three Months Ended March 31, 2016 Solid Waste: Tier 1 $ 1,241 $ (212 ) $ 1,029 $ 334 Tier 2 781 (142 ) 639 145 Tier 3 1,260 (212 ) 1,048 208 Solid Waste 3,282 (566 ) 2,716 687 Other 500 (40 ) 460 (36 ) 3,782 (606 ) 3,176 651 Corporate and Other — — — (143 ) Total $ 3,782 $ (606 ) $ 3,176 $ 508 March 31, 2015 Solid Waste: Tier 1 $ 1,195 $ (190 ) $ 1,005 $ 296 Tier 2 780 (143 ) 637 139 Tier 3 1,122 (180 ) 942 178 Solid Waste 3,097 (513 ) 2,584 613 Wheelabrator — — — (7 ) Other 478 (22 ) 456 (23 ) 3,575 (535 ) 3,040 583 Corporate and Other — — — (143 ) Total $ 3,575 $ (535 ) $ 3,040 $ 440 Fluctuations in our operating results may be caused by many factors, including period-to-period changes in the relative contribution of revenue by each line of business, changes in commodity prices and by general economic conditions. In addition, our revenues and income from operations typically reflect seasonal patterns. Our operating revenues tend to be somewhat higher in summer months, primarily due to the higher volume of construction and demolition waste. The volumes of industrial and residential waste in certain regions where we operate also tend to increase during the summer months. Our second and third quarter revenues and results of operations typically reflect these seasonal trends. Service disruptions caused by severe storms, extended periods of inclement weather or climate extremes can significantly affect the operating results of the affected Areas. On the other hand, certain destructive weather conditions that tend to occur during the second half of the year, such as the hurricanes that most often impact our operations in the Southern and Eastern U.S., can actually increase our revenues in the areas affected. While weather-related and other “one-time” occurrences can boost revenues through additional work for a limited time, as a result of significant start-up costs and other factors, such revenue can generate earnings at comparatively lower margins.

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2016
Business Combinations [Abstract]
Acquisitions	9. Acquisitions Southern Waste Systems/Sun Recycling Goodwill of $250 million was calculated as the excess of the consideration paid over the net assets recognized and represents the future economic benefits expected to arise from other assets acquired that could not be individually identified and separately recognized. Goodwill has been assigned to our Florida Area as it is expected to benefit from the synergies of the combination. Goodwill related to this acquisition is deductible for income tax purposes. Deffenbaugh Disposal, Inc. Goodwill of $159 million was calculated as the excess of the consideration paid over the net assets recognized and represents the future economic benefits expected to arise from other assets acquired that could not be individually identified and separately recognized. Goodwill has been assigned to our Areas that will be integrating these operations as they are expected to benefit from the synergies of the combination. Goodwill related to this acquisition is not deductible for income tax purposes. The allocation of the purchase price for the Deffenbaugh acquisition is final. The allocation of the purchase price for the SWS acquisition is preliminary and subject to change based on the finalization of our detailed valuations. The following table presents the final allocation of the purchase price for Deffenbaugh and the acquisition date allocation of the purchase price for SWS (in millions): Deffenbaugh SWS Cash and cash equivalents $ 15 $ — Accounts and other receivables 22 — Parts and supplies 2 — Deferred income tax asset 11 — Other current assets 10 — Property and equipment 207 93 Goodwill 159 250 Other intangible assets 100 182 Other assets 1 — Accounts payable (2 ) — Accrued liabilities (20 ) — Deferred revenues (6 ) — Landfill and environmental remediation liabilities (18 ) — Deferred income tax liability (52 ) — Other liabilities (14 ) — Total purchase price $ 415 $ 525 The following table presents the final and preliminary allocations of the purchase price for Deffenbaugh and SWS, respectively, to other intangible assets (amounts in millions, except for amortization periods): Deffenbaugh SWS Amount Weighted Average Amortization Periods (in Years) Amount Weighted Average Amortization Periods (in Years) Customer relationships $ 94 15.0 $ 160 10.0 Noncompete agreements — — 18 5.0 Trade name 6 15.0 4 10.0 Total other intangible assets subject to amortization $ 100 15.0 $ 182 9.5 The following pro forma consolidated results of operations have been prepared as if the acquisitions of Deffenbaugh and SWS occurred at January 1, 2015 (in millions, except per share amounts): Three Months Ended March 31, 2016 2015 Operating revenues $ 3,178 $ 3,111 Net income (loss) attributable to Waste Management, Inc. 258 (130 ) Basic earnings (loss) per common share 0.58 (0.28 ) Diluted earnings (loss) per common share 0.58 (0.28 )

Asset Impairments and Unusual I

Asset Impairments and Unusual Items	3 Months Ended
	Mar. 31, 2016
Extraordinary and Unusual Items [Abstract]
Asset Impairments and Unusual Items	10. Asset Impairments and Unusual Items (Income) expense from divestitures, assets impairments and unusual items In the first quarter of 2015 we recognized net charges of $13 million, including $7 million of post-closing adjustments associated with the sale of our Wheelabrator business in December 2014. In addition, we recognized a $5 million impairment charge related to a landfill in our Western Canada Area.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	11. Accumulated Other Comprehensive Income (Loss) The changes in the balances of each component of accumulated other comprehensive income (loss), net of tax, which is included as a component of Waste Management, Inc. stockholders’ equity, are as follows (in millions, with amounts in parentheses representing decreases to accumulated other comprehensive income): Derivative Instruments Available- for-Sale Securities Foreign Currency Translation Adjustments Post- Retirement Benefit Plans Total Balance, December 31, 2015 $ (52 ) $ 8 $ (75 ) $ (8 ) $ (127 ) Other comprehensive income (loss) before reclassifications, net of tax expense (benefit) of $(4), $0, $0 and $0, respectively (7 ) 1 61 — 55 Amounts reclassified from accumulated other comprehensive income, net of tax (expense) benefit of 9, $0, $0 and $0, respectively 14 — — — 14 Net current period other comprehensive income (loss) 7 1 61 — 69 Balance, March 31, 2016 $ (45 ) $ 9 $ (14 ) $ (8 ) $ (58 ) The amounts of other comprehensive income (loss) before reclassifications associated with the effective portion of derivatives designated as cash flow hedges are as follows (in millions): Three Months Ended March 31, 2016 2015 Foreign currency derivatives $ (11 ) $ 24 Tax (expense) benefit 4 (9 ) Net of tax $ (7 ) $ 15 The significant amounts reclassified out of each component of accumulated other comprehensive income (loss) are as follows (in millions, with amounts in parentheses representing debits to the statement of operations classification): Three Months Ended March 31, Statement of Operations Classification 2016 2015 Gains and losses on cash flow hedges: Forward-starting interest rate swaps $ (3 ) $ (3 ) Interest expense, net Treasury rate locks — (3 ) Interest expense, net Foreign currency derivatives (20 ) 26 Other, net (23 ) 20 Total before tax 9 (8 ) Tax (expense) benefit Total reclassifications for the period $ (14 ) $ 12 Net of tax

Share Repurchases

Share Repurchases	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Share Repurchases	12. Share Repurchases Our share repurchases have been made in accordance with financial plans approved by our Board of Directors. The Company entered into an accelerated share repurchase (“ASR”) agreement in December 2015 to repurchase $150 million of our common stock in early 2016. In January 2016, we delivered $150 million in cash and received 2.0 million shares based on a stock price of $53.37. The ASR agreement completed in February 2016, at which time we received 0.9 million additional shares based on a final weighted average per share purchase price during the repurchase period of $53.15. In March 2016, the Company entered into an ASR agreement to repurchase an additional $100 million of our common stock. At the beginning of the ASR repurchase period, we delivered $100 million in cash and received 1.2 million shares based on a stock price of $56.95. The ASR agreement completed in April 2016, at which time we received 0.5 million additional shares based on a final weighted average per share purchase price during the repurchase period of $58.33. After completion of these two ASRs, the Company has authorization for $900 million of future share repurchases. Each ASR agreement was accounted for as two separate transactions: (i) as shares of reacquired common stock for the shares delivered to us upon effectiveness of the ASR agreements and (ii) as a forward contract indexed to our own common stock for the undelivered shares. The initial delivery of shares is included in treasury stock at cost and resulted in an immediate reduction of the outstanding shares used to calculate the weighted average common shares outstanding for basic and diluted earnings per share. The forward contracts indexed to our own stock met the criteria for equity classification, and these amounts are initially recorded in additional paid-in capital and reclassified to treasury stock upon completion of the ASR agreement. Any future share repurchases pursuant to the authorization of our Board of Directors will be made at the discretion of management.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	13. Fair Value Measurements Assets and Liabilities Accounted for at Fair Value Our assets and liabilities that are measured at fair value on a recurring basis include the following (in millions): Fair Value Measurements at March 31, 2016 Using Total Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3)(a) Assets: Money market funds $ 34 $ 34 $ — $ — Available-for-sale securities 44 — 44 — Fixed-income securities 41 — 41 — Redeemable preferred stock 48 — — 48 Total assets $ 167 $ 34 $ 85 $ 48 Fair Value Measurements at December 31, 2015 Using Total Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3)(a) Assets: Money market funds $ 35 $ 35 $ — $ — Available-for-sale securities 43 — 43 — Fixed-income securities 40 — 40 — Foreign currency derivatives(b) 78 — 78 — Redeemable preferred stock 47 — — 47 Total assets $ 243 $ 35 $ 161 $ 47 (a) When available, Level 3 investments have been measured based on third-party investors’ recent or pending transactions in these securities, which are considered the best evidence of fair value. When this evidence is not available, we use other valuation techniques as appropriate and available. These valuation methodologies may include transactions in similar instruments, discounted cash flow techniques, third-party appraisals or industry multiples and public comparables. There has not been any significant change in the fair value of the redeemable preferred stock since our assessment at December 31, 2015. (b) In March 2016, we terminated our foreign currency derivatives. Refer to Note 4 for additional information. Fair Value of Debt At March 31, 2016 and December 31, 2015, the carrying value of our debt was approximately $9.6 billion and $8.9 billion, respectively. The carrying value of our debt includes adjustments associated with fair value hedge accounting related to our interest rate swaps as discussed in Note 4. The estimated fair value of our debt was approximately $10.1 billion and $9.2 billion at March 31, 2016 and December 31, 2015, respectively. The carrying value of remarketable debt and borrowings under our revolving credit facilities approximates fair value due to the short-term nature of the interest rates. The fair value of our senior notes and other debt is estimated using discounted cash flow analysis, based on current market rates for similar types of instruments. The increase in the fair value of our debt when comparing March 31, 2016 with December 31, 2015 is primarily related to $654 million of net borrowings during 2016, as well as increases in the fair value attributable to recent decreases in long-term interest rates. Although we have determined the estimated fair value amounts using available market information and commonly accepted valuation methodologies, considerable judgment is required in interpreting market data to develop the estimates of fair value. Accordingly, our estimates are not necessarily indicative of the amounts that we, or holders of the instruments, could realize in a current market exchange. The use of different assumptions and/or estimation methodologies could have a material effect on the estimated fair values. The fair value estimates are based on Level 2 inputs of the fair value hierarchy available as of March 31, 2016 and December 31, 2015. These amounts have not been revalued since those dates, and current estimates of fair value could differ significantly from the amounts presented.

Variable Interest Entities

Variable Interest Entities	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities	14. Variable Interest Entities Following is a description of our financial interests in variable interest entities that we consider significant, including (i) those that represent a significant interest in an unconsolidated entity and (ii) trusts for final capping, closure, post-closure or environmental remediation obligations. Significant Unconsolidated Variable Interest Entities Investment in Refined Coal Facility — Investment in Low-Income Housing Properties — Trusts for Final Capping, Closure, Post-Closure or Environmental Remediation Obligations We have significant financial interests in trust funds that were created to settle certain of our final capping, closure, post-closure or environmental remediation obligations. Generally, we are the sole beneficiary of these restricted balances; however, certain of the funds have been established for the benefit of both the Company and the host community in which we operate. We have determined that these trust funds are variable interest entities; however, we are not the primary beneficiary of certain of these entities because either (i) we do not have the power to direct the significant activities of the trusts or (ii) power over the trusts’ significant activities is shared. We account for the trusts for which we are the sole beneficiary as long-term “Other assets” in our Condensed Consolidated Balance Sheets. We reflect our interests in the unrealized gains and losses on available-for-sale securities held by these trusts as a component of “Accumulated other comprehensive income (loss).” These trusts had a fair value of $94 million at both March 31, 2016 and December 31, 2015. Our interests in the trusts that have been established for the benefit of both the Company and the host community in which we operate are accounted for as investments in unconsolidated entities and receivables. These amounts are recorded in “Other receivables,” “Investments in unconsolidated entities” and long-term “Other assets” in our Condensed Consolidated Balance Sheets, as appropriate. Our investments and receivables related to these trusts had an aggregate carrying value of $93 million at both March 31, 2016 and December 31, 2015. As the party with primary responsibility to fund the related final capping, closure, post-closure or environmental remediation activities, we are exposed to risk of loss as a result of potential changes in the fair value of the assets of the trust. The fair value of trust assets can fluctuate due to (i) changes in the market value of the investments held by the trusts and (ii) credit risk associated with trust receivables. Although we are exposed to changes in the fair value of the trust assets, we currently expect the trust funds to continue to meet the statutory requirements for which they were established.

Condensed Consolidating Financi

Condensed Consolidating Financial Statements	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Condensed Consolidating Financial Statements	15. Condensed Consolidating Financial Statements WM Holdings has fully and unconditionally guaranteed all of WM’s senior indebtedness. WM has fully and unconditionally guaranteed all of WM Holdings’ senior indebtedness. None of WM’s other subsidiaries have guaranteed any of WM’s or WM Holdings’ debt. As a result of these guarantee arrangements, we are required to present the following condensed consolidating financial information (in millions): CONDENSED CONSOLIDATING BALANCE SHEETS March 31, 2016 (Unaudited) WM WM Holdings Non-Guarantor Subsidiaries Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ — $ — $ 104 $ — $ 104 Other current assets 4 6 2,188 — 2,198 4 6 2,292 — 2,302 Property and equipment, net — — 10,796 — 10,796 Investments in and advances to affiliates 18,861 19,285 7,401 (45,547 ) — Other assets 18 29 7,636 — 7,683 Total assets $ 18,883 $ 19,320 $ 28,125 $ (45,547 ) $ 20,781 LIABILITIES AND EQUITY Current liabilities: Current portion of long-term debt $ 341 $ — $ 183 $ — $ 524 Accounts payable and other current liabilities 60 4 1,972 — 2,036 401 4 2,155 — 2,560 Long-term debt, less current portion 5,927 304 2,841 — 9,072 Due to affiliates 7,250 151 — (7,401 ) — Other liabilities 15 — 3,824 — 3,839 Total liabilities 13,593 459 8,820 (7,401 ) 15,471 Equity: Stockholders’ equity 5,290 18,861 19,285 (38,146 ) 5,290 Noncontrolling interests — — 20 — 20 5,290 18,861 19,305 (38,146 ) 5,310 Total liabilities and equity $ 18,883 $ 19,320 $ 28,125 $ (45,547 ) $ 20,781 CONDENSED CONSOLIDATING BALANCE SHEETS (Continued) December 31, 2015 WM WM Holdings Non-Guarantor Subsidiaries Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ — $ — $ 39 $ — $ 39 Other current assets 3 6 2,297 — 2,306 3 6 2,336 — 2,345 Property and equipment, net — — 10,665 — 10,665 Investments in and advances to affiliates 18,557 18,911 7,365 (44,833 ) — Other assets 23 29 7,305 — 7,357 Total assets $ 18,583 $ 18,946 $ 27,671 $ (44,833 ) $ 20,367 LIABILITIES AND EQUITY Current liabilities: Current portion of long-term debt $ 41 $ — $ 212 $ — $ 253 Accounts payable and other current liabilities 83 9 2,165 — 2,257 124 9 2,377 — 2,510 Long-term debt, less current portion 5,801 304 2,571 — 8,676 Due to affiliates 7,289 76 — (7,365 ) — Other liabilities 24 — 3,790 — 3,814 Total liabilities 13,238 389 8,738 (7,365 ) 15,000 Equity: Stockholders’ equity 5,345 18,557 18,911 (37,468 ) 5,345 Noncontrolling interests — — 22 — 22 5,345 18,557 18,933 (37,468 ) 5,367 Total liabilities and equity $ 18,583 $ 18,946 $ 27,671 $ (44,833 ) $ 20,367 CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS Three Months Ended March 31, 2016 (Unaudited) WM WM Non-Guarantor Eliminations Consolidated Operating revenues $ — $ — $ 3,176 $ — $ 3,176 Costs and expenses — — 2,668 — 2,668 Income from operations — — 508 — 508 Other income (expense): Interest expense, net (74 ) (5 ) (16 ) — (95 ) Loss on early extinguishment of debt (1 ) — — — (1 ) Equity in earnings of subsidiaries, net of taxes 304 307 — (611 ) — Other, net — — (16 ) — (16 ) 229 302 (32 ) (611 ) (112 ) Income (loss) before income taxes 229 302 476 (611 ) 396 Provision for (benefit from) income taxes (29 ) (2 ) 171 — 140 Consolidated net income (loss) 258 304 305 (611 ) 256 Less: Net income (loss) attributable to noncontrolling interests — — (2 ) — (2 ) Net income (loss) attributable to Waste Management, Inc. $ 258 $ 304 $ 307 $ (611 ) $ 258 Three Months Ended March 31, 2015 (Unaudited) WM WM Non-Guarantor Eliminations Consolidated Operating revenues $ — $ — $ 3,040 $ — $ 3,040 Costs and expenses — 6 2,594 — 2,600 Income from operations — (6 ) 446 — 440 Other income (expense): Interest expense, net (79 ) (7 ) (18 ) — (104 ) Loss on early extinguishment of debt (498 ) (52 ) — — (550 ) Equity in earnings of subsidiaries, net of taxes 231 273 — (504 ) — Other, net — — (8 ) — (8 ) (346 ) 214 (26 ) (504 ) (662 ) Income (loss) before income taxes (346 ) 208 420 (504 ) (222 ) Provision for (benefit from) income taxes (217 ) (23 ) 149 — (91 ) Consolidated net income (loss) (129 ) 231 271 (504 ) (131 ) Less: Net income (loss) attributable to noncontrolling interests — — (2 ) — (2 ) Net income (loss) attributable to Waste Management, Inc. $ (129 ) $ 231 $ 273 $ (504 ) $ (129 ) CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) WM WM Non-Guarantor Eliminations Consolidated Three Months Ended March 31, 2016 Comprehensive income (loss) $ 260 $ 304 $ 372 $ (611 ) $ 325 Less: Comprehensive income (loss) attributable to noncontrolling interests — — (2 ) — (2 ) Comprehensive income (loss) attributable to Waste Management, Inc. $ 260 $ 304 $ 374 $ (611 ) $ 327 Three Months Ended March 31, 2015 Comprehensive income (loss) $ (125 ) $ 231 $ 194 $ (504 ) $ (204 ) Less: Comprehensive income (loss) attributable to noncontrolling interests — — (2 ) — (2 ) Comprehensive income (loss) attributable to Waste Management, Inc. $ (125 ) $ 231 $ 196 $ (504 ) $ (202 ) CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Three Months Ended March 31, 2016 (Unaudited) WM WM Non-Guarantor Eliminations Consolidated Cash flows from operating activities: Consolidated net income (loss) $ 258 $ 304 $ 305 $ (611 ) $ 256 Equity in earnings of subsidiaries, net of taxes (304 ) (307 ) — 611 — Other adjustments (20 ) (6 ) 476 — 450 Net cash provided by (used in) operating activities (66 ) (9 ) 781 — 706 Cash flows from investing activities: Acquisitions of businesses, net of cash acquired — — (537 ) — (537 ) Capital expenditures — — (317 ) — (317 ) Proceeds from divestitures of businesses and other assets (net of cash divested) — — 13 — 13 Net receipts from restricted trust and escrow accounts and other, net — — (6 ) — (6 ) Net cash used in investing activities — — (847 ) — (847 ) Cash flows from financing activities: New borrowings 914 — 387 — 1,301 Debt repayments (487 ) — (160 ) — (647 ) Premiums paid on early extinguishment of debt (1 ) — — — (1 ) Common stock repurchases (250 ) — — — (250 ) Cash dividends (183 ) — — — (183 ) Exercise of common stock options 18 — — — 18 Other, net 7 — (39 ) — (32 ) (Increase) decrease in intercompany and investments, net 48 9 (57 ) — — Net cash provided by (used in) financing activities 66 9 131 — 206 Effect of exchange rate changes on cash and cash equivalents — — — — — Increase (decrease) in cash and cash equivalents — — 65 — 65 Cash and cash equivalents at beginning of period — — 39 — 39 Cash and cash equivalents at end of period $ — $ — $ 104 $ — $ 104 CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS (Continued) Three Months Ended March 31, 2015 (Unaudited) WM WM Non-Guarantor Eliminations Consolidated Cash flows from operating activities: Consolidated net income (loss) $ (129 ) $ 231 $ 271 $ (504 ) $ (131 ) Equity in earnings of subsidiaries, net of taxes (231 ) (273 ) — 504 — Other adjustments (23 ) (10 ) 663 — 630 Net cash provided by (used in) operating activities (383 ) (52 ) 934 — 499 Cash flows from investing activities: Acquisitions of businesses, net of cash acquired — — (445 ) — (445 ) Capital expenditures — — (233 ) — (233 ) Proceeds from divestitures of businesses and other assets (net of cash divested) — — 19 — 19 Net receipts from restricted trust and escrow accounts and other, net — — 31 — 31 Net cash used in investing activities — — (628 ) — (628 ) Cash flows from financing activities: New borrowings 1,781 — 36 — 1,817 Debt repayments (1,820 ) (144 ) (65 ) — (2,029 ) Premiums paid on early extinguishment of debt (502 ) (52 ) — — (554 ) Cash dividends (176 ) — — — (176 ) Exercise of common stock options 39 — — — 39 Other, net 5 — — — 5 (Increase) decrease in intercompany and investments, net (11 ) 248 (237 ) — — Net cash provided by (used in) financing activities (684 ) 52 (266 ) — (898 ) Effect of exchange rate changes on cash and cash equivalents — — (3 ) — (3 ) Increase (decrease) in cash and cash equivalents (1,067 ) — 37 — (1,030 ) Cash and cash equivalents at beginning of period 1,235 — 72 — 1,307 Cash and cash equivalents at end of period $ 168 $— $ 109 $— $ 277

New Accounting Standards Pendin

New Accounting Standards Pending Adoption	3 Months Ended
	Mar. 31, 2016
Accounting Changes and Error Corrections [Abstract]
New Accounting Standards Pending Adoption	16. New Accounting Standards Pending Adoption Stock Compensation Leases Financial Instruments Revenue Recognition

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation	The financial statements presented in this report represent the consolidation of Waste Management, Inc., a Delaware corporation, and Waste Management’s wholly-owned and majority-owned subsidiaries. Waste Management is a holding company and all operations are conducted by its subsidiaries. When the terms “the Company,” “we,” “us” or “our” are used in this document, those terms refer to Waste Management, Inc. and its consolidated subsidiaries. When we use the term “WM,” we are referring only to Waste Management, Inc., the parent holding company. We are North America’s leading provider of comprehensive waste management environmental services. We partner with our residential, commercial, industrial and municipal customers and the communities we serve to manage and reduce waste at each stage from collection to disposal, while recovering valuable resources and creating clean, renewable energy. Our “Solid Waste” business is operated and managed locally by our subsidiaries that focus on distinct geographic areas and provides collection, transfer, recycling and resource recovery, and disposal services. Through our subsidiaries, we are also a leading developer, operator and owner of landfill gas-to-energy facilities in the United States. We evaluate, oversee and manage the financial performance of our Solid Waste business subsidiaries through our 17 geographic Areas. We also provide additional services that are not managed through our Solid Waste business, which are presented in this report as “Other.” Additional information related to our segments can be found in Note 8. The Condensed Consolidated Financial Statements as of March 31, 2016 and for the three months ended March 31, 2016 and 2015 are unaudited. In the opinion of management, these financial statements include all adjustments, which, unless otherwise disclosed, are of a normal recurring nature, necessary for a fair presentation of the financial position, results of operations, comprehensive income, cash flows, and changes in equity for the periods presented. The results for interim periods are not necessarily indicative of results for the entire year. The financial statements presented herein should be read in connection with the financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2015. In preparing our financial statements, we make numerous estimates and assumptions that affect the accounting for and recognition and disclosure of assets, liabilities, equity, revenues and expenses. We must make these estimates and assumptions because certain information that we use is dependent on future events, cannot be calculated with precision from available data or simply cannot be calculated. In some cases, these estimates are difficult to determine, and we must exercise significant judgment. In preparing our financial statements, the most difficult, subjective and complex estimates and the assumptions that present the greatest amount of uncertainty relate to our accounting for landfills, environmental remediation liabilities, asset impairments, deferred income taxes and reserves associated with our insured and self-insured claims. Actual results could differ materially from the estimates and assumptions that we use in the preparation of our financial statements.
Adoption of New Accounting Standards	Adoption of New Accounting Standards Debt Issuance Costs Consolidation
Reclassifications	Reclassifications When necessary, reclassifications have been made to our prior period consolidated financial information in order to conform to the current year presentation.

Landfill and Environmental Re25

Landfill and Environmental Remediation Liabilities (Tables)	3 Months Ended
	Mar. 31, 2016
Text Block [Abstract]
Liabilities for Landfill and Environmental Remediation Costs	Liabilities for landfill and environmental remediation costs are presented in the table below (in millions): March 31, 2016 December 31, 2015 Landfill Environmental Remediation Total Landfill Environmental Remediation Total Current (in accrued liabilities) $ 110 $ 32 $ 142 $ 112 $ 31 $ 143 Long-term 1,431 175 1,606 1,406 178 1,584 $ 1,541 $ 207 $ 1,748 $ 1,518 $ 209 $ 1,727
Changes to Landfill and Environmental Remediation Liabilities	The changes to landfill and environmental remediation liabilities for the three months ended March 31, 2016 are reflected in the table below (in millions): Landfill Environmental Remediation December 31, 2015 $ 1,518 $ 209 Obligations incurred and capitalized 13 — Obligations settled (15 ) (5 ) Interest accretion 22 1 Revisions in estimates and interest rate assumptions (1 ) 2 Acquisitions, divestitures and other adjustments 4 — March 31, 2016 $ 1,541 $ 207

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Components of Debt	The following table summarizes the major components of debt at each balance sheet date (in millions) and provides the maturities and interest rate ranges of each major category as of March 31, 2016: March 31, 2016 December 31, 2015 $2.25 billion revolving credit facility, maturing July 2020 (weighted average interest rate of 1.4% at March 31, 2016) $ 458 $ 20 Letter of credit facilities, maturing through December 2018 — — Canadian credit facility and term loan, maturing March 2019 (weighted average effective interest rate of 2.0% at March 31, 2016 and 2.2% at December 31, 2015) 353 84 Senior notes maturing through 2045, interest rates ranging from 2.60% to 7.75% (weighted average interest rate of 4.7% at March 31, 2016 and December 31, 2015) 6,039 6,050 Tax-exempt bonds, maturing through 2045, fixed and variable interest rates ranging from 0.4% to 5.7% (weighted average interest rate of 2.0% at March 31, 2016 and 1.9% at December 31, 2015) 2,418 2,447 Capital leases and other, maturing through 2055, interest rates up to 12% 328 328 9,596 8,929 Current portion of long-term debt 524 253 $ 9,072 $ 8,676

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Common Share Data Used for Computing Basic and Diluted Earnings Per Share	Basic and diluted earnings per share were computed using the following common share data (shares in millions): Three Months Ended March 31, 2016 2015 Number of common shares outstanding at end of period 444.7 457.8 Effect of using weighted average common shares outstanding 1.4 0.7 Weighted average basic common shares outstanding 446.1 458.5 Dilutive effect of equity-based compensation awards and other contingently issuable shares 2.5 — Weighted average diluted common shares outstanding 448.6 458.5 Potentially issuable shares 11.2 11.5 Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding 2.5 11.5

Segment and Related Informati28

Segment and Related Information (Tables)	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Reportable Segments	Summarized financial information concerning our reportable segments is shown in the following table (in millions): Gross Operating Revenues Intercompany Operating Revenues Net Operating Revenues Income from Operations Three Months Ended March 31, 2016 Solid Waste: Tier 1 $ 1,241 $ (212 ) $ 1,029 $ 334 Tier 2 781 (142 ) 639 145 Tier 3 1,260 (212 ) 1,048 208 Solid Waste 3,282 (566 ) 2,716 687 Other 500 (40 ) 460 (36 ) 3,782 (606 ) 3,176 651 Corporate and Other — — — (143 ) Total $ 3,782 $ (606 ) $ 3,176 $ 508 March 31, 2015 Solid Waste: Tier 1 $ 1,195 $ (190 ) $ 1,005 $ 296 Tier 2 780 (143 ) 637 139 Tier 3 1,122 (180 ) 942 178 Solid Waste 3,097 (513 ) 2,584 613 Wheelabrator — — — (7 ) Other 478 (22 ) 456 (23 ) 3,575 (535 ) 3,040 583 Corporate and Other — — — (143 ) Total $ 3,575 $ (535 ) $ 3,040 $ 440

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Mar. 31, 2016
Business Combinations [Abstract]
Allocation of Purchase Price	The allocation of the purchase price for the SWS acquisition is preliminary and subject to change based on the finalization of our detailed valuations. The following table presents the final allocation of the purchase price for Deffenbaugh and the acquisition date allocation of the purchase price for SWS (in millions): Deffenbaugh SWS Cash and cash equivalents $ 15 $ — Accounts and other receivables 22 — Parts and supplies 2 — Deferred income tax asset 11 — Other current assets 10 — Property and equipment 207 93 Goodwill 159 250 Other intangible assets 100 182 Other assets 1 — Accounts payable (2 ) — Accrued liabilities (20 ) — Deferred revenues (6 ) — Landfill and environmental remediation liabilities (18 ) — Deferred income tax liability (52 ) — Other liabilities (14 ) — Total purchase price $ 415 $ 525
Schedule of Final and Preliminary Allocations of Purchase Price	The following table presents the final and preliminary allocations of the purchase price for Deffenbaugh and SWS, respectively, to other intangible assets (amounts in millions, except for amortization periods): Deffenbaugh SWS Amount Weighted Average Amortization Periods (in Years) Amount Weighted Average Amortization Periods (in Years) Customer relationships $ 94 15.0 $ 160 10.0 Noncompete agreements — — 18 5.0 Trade name 6 15.0 4 10.0 Total other intangible assets subject to amortization $ 100 15.0 $ 182 9.5
Pro Forma Consolidated Results of Operations	The following pro forma consolidated results of operations have been prepared as if the acquisitions of Deffenbaugh and SWS occurred at January 1, 2015 (in millions, except per share amounts): Three Months Ended March 31, 2016 2015 Operating revenues $ 3,178 $ 3,111 Net income (loss) attributable to Waste Management, Inc. 258 (130 ) Basic earnings (loss) per common share 0.58 (0.28 ) Diluted earnings (loss) per common share 0.58 (0.28 )

Accumulated Other Comprehensi30

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Components of Accumulated Other Comprehensive Income (Loss)	The changes in the balances of each component of accumulated other comprehensive income (loss), net of tax, which is included as a component of Waste Management, Inc. stockholders’ equity, are as follows (in millions, with amounts in parentheses representing decreases to accumulated other comprehensive income): Derivative Instruments Available- for-Sale Securities Foreign Currency Translation Adjustments Post- Retirement Benefit Plans Total Balance, December 31, 2015 $ (52 ) $ 8 $ (75 ) $ (8 ) $ (127 ) Other comprehensive income (loss) before reclassifications, net of tax expense (benefit) of $(4), $0, $0 and $0, respectively (7 ) 1 61 — 55 Amounts reclassified from accumulated other comprehensive income, net of tax (expense) benefit of 9, $0, $0 and $0, respectively 14 — — — 14 Net current period other comprehensive income (loss) 7 1 61 — 69 Balance, March 31, 2016 $ (45 ) $ 9 $ (14 ) $ (8 ) $ (58 )
Other Comprehensive Income (Loss) Before Reclassifications Associated with the Effective Portion of Derivatives Designated as Cash Flow Hedges	The amounts of other comprehensive income (loss) before reclassifications associated with the effective portion of derivatives designated as cash flow hedges are as follows (in millions): Three Months Ended March 31, 2016 2015 Foreign currency derivatives $ (11 ) $ 24 Tax (expense) benefit 4 (9 ) Net of tax $ (7 ) $ 15
Reclassification of Component of Accumulated Other Comprehensive Income (Loss)	The significant amounts reclassified out of each component of accumulated other comprehensive income (loss) are as follows (in millions, with amounts in parentheses representing debits to the statement of operations classification): Three Months Ended March 31, Statement of Operations Classification 2016 2015 Gains and losses on cash flow hedges: Forward-starting interest rate swaps $ (3 ) $ (3 ) Interest expense, net Treasury rate locks — (3 ) Interest expense, net Foreign currency derivatives (20 ) 26 Other, net (23 ) 20 Total before tax 9 (8 ) Tax (expense) benefit Total reclassifications for the period $ (14 ) $ 12 Net of tax

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value of Assets and Liabilities Measured on Recurring Basis	Our assets and liabilities that are measured at fair value on a recurring basis include the following (in millions): Fair Value Measurements at March 31, 2016 Using Total Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3)(a) Assets: Money market funds $ 34 $ 34 $ — $ — Available-for-sale securities 44 — 44 — Fixed-income securities 41 — 41 — Redeemable preferred stock 48 — — 48 Total assets $ 167 $ 34 $ 85 $ 48 Fair Value Measurements at December 31, 2015 Using Total Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3)(a) Assets: Money market funds $ 35 $ 35 $ — $ — Available-for-sale securities 43 — 43 — Fixed-income securities 40 — 40 — Foreign currency derivatives(b) 78 — 78 — Redeemable preferred stock 47 — — 47 Total assets $ 243 $ 35 $ 161 $ 47 (a) When available, Level 3 investments have been measured based on third-party investors’ recent or pending transactions in these securities, which are considered the best evidence of fair value. When this evidence is not available, we use other valuation techniques as appropriate and available. These valuation methodologies may include transactions in similar instruments, discounted cash flow techniques, third-party appraisals or industry multiples and public comparables. There has not been any significant change in the fair value of the redeemable preferred stock since our assessment at December 31, 2015. (b) In March 2016, we terminated our foreign currency derivatives. Refer to Note 4 for additional information.

Condensed Consolidating Finan32

Condensed Consolidating Financial Statements (Tables)	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Condensed Consolidating Balance Sheets	CONDENSED CONSOLIDATING BALANCE SHEETS March 31, 2016 (Unaudited) WM WM Holdings Non-Guarantor Subsidiaries Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ — $ — $ 104 $ — $ 104 Other current assets 4 6 2,188 — 2,198 4 6 2,292 — 2,302 Property and equipment, net — — 10,796 — 10,796 Investments in and advances to affiliates 18,861 19,285 7,401 (45,547 ) — Other assets 18 29 7,636 — 7,683 Total assets $ 18,883 $ 19,320 $ 28,125 $ (45,547 ) $ 20,781 LIABILITIES AND EQUITY Current liabilities: Current portion of long-term debt $ 341 $ — $ 183 $ — $ 524 Accounts payable and other current liabilities 60 4 1,972 — 2,036 401 4 2,155 — 2,560 Long-term debt, less current portion 5,927 304 2,841 — 9,072 Due to affiliates 7,250 151 — (7,401 ) — Other liabilities 15 — 3,824 — 3,839 Total liabilities 13,593 459 8,820 (7,401 ) 15,471 Equity: Stockholders’ equity 5,290 18,861 19,285 (38,146 ) 5,290 Noncontrolling interests — — 20 — 20 5,290 18,861 19,305 (38,146 ) 5,310 Total liabilities and equity $ 18,883 $ 19,320 $ 28,125 $ (45,547 ) $ 20,781 CONDENSED CONSOLIDATING BALANCE SHEETS (Continued) December 31, 2015 WM WM Holdings Non-Guarantor Subsidiaries Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ — $ — $ 39 $ — $ 39 Other current assets 3 6 2,297 — 2,306 3 6 2,336 — 2,345 Property and equipment, net — — 10,665 — 10,665 Investments in and advances to affiliates 18,557 18,911 7,365 (44,833 ) — Other assets 23 29 7,305 — 7,357 Total assets $ 18,583 $ 18,946 $ 27,671 $ (44,833 ) $ 20,367 LIABILITIES AND EQUITY Current liabilities: Current portion of long-term debt $ 41 $ — $ 212 $ — $ 253 Accounts payable and other current liabilities 83 9 2,165 — 2,257 124 9 2,377 — 2,510 Long-term debt, less current portion 5,801 304 2,571 — 8,676 Due to affiliates 7,289 76 — (7,365 ) — Other liabilities 24 — 3,790 — 3,814 Total liabilities 13,238 389 8,738 (7,365 ) 15,000 Equity: Stockholders’ equity 5,345 18,557 18,911 (37,468 ) 5,345 Noncontrolling interests — — 22 — 22 5,345 18,557 18,933 (37,468 ) 5,367 Total liabilities and equity $ 18,583 $ 18,946 $ 27,671 $ (44,833 ) $ 20,367
Condensed Consolidating Statements of Operations	CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS Three Months Ended March 31, 2016 (Unaudited) WM WM Non-Guarantor Eliminations Consolidated Operating revenues $ — $ — $ 3,176 $ — $ 3,176 Costs and expenses — — 2,668 — 2,668 Income from operations — — 508 — 508 Other income (expense): Interest expense, net (74 ) (5 ) (16 ) — (95 ) Loss on early extinguishment of debt (1 ) — — — (1 ) Equity in earnings of subsidiaries, net of taxes 304 307 — (611 ) — Other, net — — (16 ) — (16 ) 229 302 (32 ) (611 ) (112 ) Income (loss) before income taxes 229 302 476 (611 ) 396 Provision for (benefit from) income taxes (29 ) (2 ) 171 — 140 Consolidated net income (loss) 258 304 305 (611 ) 256 Less: Net income (loss) attributable to noncontrolling interests — — (2 ) — (2 ) Net income (loss) attributable to Waste Management, Inc. $ 258 $ 304 $ 307 $ (611 ) $ 258 Three Months Ended March 31, 2015 (Unaudited) WM WM Non-Guarantor Eliminations Consolidated Operating revenues $ — $ — $ 3,040 $ — $ 3,040 Costs and expenses — 6 2,594 — 2,600 Income from operations — (6 ) 446 — 440 Other income (expense): Interest expense, net (79 ) (7 ) (18 ) — (104 ) Loss on early extinguishment of debt (498 ) (52 ) — — (550 ) Equity in earnings of subsidiaries, net of taxes 231 273 — (504 ) — Other, net — — (8 ) — (8 ) (346 ) 214 (26 ) (504 ) (662 ) Income (loss) before income taxes (346 ) 208 420 (504 ) (222 ) Provision for (benefit from) income taxes (217 ) (23 ) 149 — (91 ) Consolidated net income (loss) (129 ) 231 271 (504 ) (131 ) Less: Net income (loss) attributable to noncontrolling interests — — (2 ) — (2 ) Net income (loss) attributable to Waste Management, Inc. $ (129 ) $ 231 $ 273 $ (504 ) $ (129 )
Condensed Consolidating Statements of Comprehensive Income (Loss)	CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) WM WM Non-Guarantor Eliminations Consolidated Three Months Ended March 31, 2016 Comprehensive income (loss) $ 260 $ 304 $ 372 $ (611 ) $ 325 Less: Comprehensive income (loss) attributable to noncontrolling interests — — (2 ) — (2 ) Comprehensive income (loss) attributable to Waste Management, Inc. $ 260 $ 304 $ 374 $ (611 ) $ 327 Three Months Ended March 31, 2015 Comprehensive income (loss) $ (125 ) $ 231 $ 194 $ (504 ) $ (204 ) Less: Comprehensive income (loss) attributable to noncontrolling interests — — (2 ) — (2 ) Comprehensive income (loss) attributable to Waste Management, Inc. $ (125 ) $ 231 $ 196 $ (504 ) $ (202 )
Condensed Consolidating Statements of Cash Flows	CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Three Months Ended March 31, 2016 (Unaudited) WM WM Non-Guarantor Eliminations Consolidated Cash flows from operating activities: Consolidated net income (loss) $ 258 $ 304 $ 305 $ (611 ) $ 256 Equity in earnings of subsidiaries, net of taxes (304 ) (307 ) — 611 — Other adjustments (20 ) (6 ) 476 — 450 Net cash provided by (used in) operating activities (66 ) (9 ) 781 — 706 Cash flows from investing activities: Acquisitions of businesses, net of cash acquired — — (537 ) — (537 ) Capital expenditures — — (317 ) — (317 ) Proceeds from divestitures of businesses and other assets (net of cash divested) — — 13 — 13 Net receipts from restricted trust and escrow accounts and other, net — — (6 ) — (6 ) Net cash used in investing activities — — (847 ) — (847 ) Cash flows from financing activities: New borrowings 914 — 387 — 1,301 Debt repayments (487 ) — (160 ) — (647 ) Premiums paid on early extinguishment of debt (1 ) — — — (1 ) Common stock repurchases (250 ) — — — (250 ) Cash dividends (183 ) — — — (183 ) Exercise of common stock options 18 — — — 18 Other, net 7 — (39 ) — (32 ) (Increase) decrease in intercompany and investments, net 48 9 (57 ) — — Net cash provided by (used in) financing activities 66 9 131 — 206 Effect of exchange rate changes on cash and cash equivalents — — — — — Increase (decrease) in cash and cash equivalents — — 65 — 65 Cash and cash equivalents at beginning of period — — 39 — 39 Cash and cash equivalents at end of period $ — $ — $ 104 $ — $ 104 CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS (Continued) Three Months Ended March 31, 2015 (Unaudited) WM WM Non-Guarantor Eliminations Consolidated Cash flows from operating activities: Consolidated net income (loss) $ (129 ) $ 231 $ 271 $ (504 ) $ (131 ) Equity in earnings of subsidiaries, net of taxes (231 ) (273 ) — 504 — Other adjustments (23 ) (10 ) 663 — 630 Net cash provided by (used in) operating activities (383 ) (52 ) 934 — 499 Cash flows from investing activities: Acquisitions of businesses, net of cash acquired — — (445 ) — (445 ) Capital expenditures — — (233 ) — (233 ) Proceeds from divestitures of businesses and other assets (net of cash divested) — — 19 — 19 Net receipts from restricted trust and escrow accounts and other, net — — 31 — 31 Net cash used in investing activities — — (628 ) — (628 ) Cash flows from financing activities: New borrowings 1,781 — 36 — 1,817 Debt repayments (1,820 ) (144 ) (65 ) — (2,029 ) Premiums paid on early extinguishment of debt (502 ) (52 ) — — (554 ) Cash dividends (176 ) — — — (176 ) Exercise of common stock options 39 — — — 39 Other, net 5 — — — 5 (Increase) decrease in intercompany and investments, net (11 ) 248 (237 ) — — Net cash provided by (used in) financing activities (684 ) 52 (266 ) — (898 ) Effect of exchange rate changes on cash and cash equivalents — — (3 ) — (3 ) Increase (decrease) in cash and cash equivalents (1,067 ) — 37 — (1,030 ) Cash and cash equivalents at beginning of period 1,235 — 72 — 1,307 Cash and cash equivalents at end of period $ 168 $— $ 109 $— $ 277

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Detail) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2016Areas	Dec. 31, 2015USD ($)
Basis Of Presentation [Line Items]
Number of geographical areas | Areas	17
Accounting Standards Update 2015-03 [Member]
Basis Of Presentation [Line Items]
Reclassification of debt issuance costs | $		$ 52

Landfill and Environmental Re34

Landfill and Environmental Remediation Liabilities - Liabilities for Landfill and Environmental Remediation Costs (Detail) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Site Contingency [Line Items]
Total, Environmental Remediation	$ 207
Current (in accrued liabilities)	142	$ 143
Long-term	1,606	1,584
Total	1,748	1,727
Landfill [Member]
Site Contingency [Line Items]
Current (in accrued liabilities), Landfill	110	112
Long-term, Landfill	1,431	1,406
Total, Landfill	1,541	1,518
Environmental Remediation Liabilities [Member]
Site Contingency [Line Items]
Current (in accrued liabilities), Environmental Remediation	32	31
Long-term, Environmental Remediation	175	178
Total, Environmental Remediation	$ 207	$ 209

Landfill and Environmental Re35

Landfill and Environmental Remediation Liabilities - Changes to Landfill and Environmental Remediation Liabilities (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Environmental Exit Cost [Line Items]
Interest accretion	$ 22	$ 21
Ending balance, environmental remediation	207
Landfill [Member]
Environmental Exit Cost [Line Items]
Beginning balance, landfill	1,518
Obligations incurred and capitalized	13
Obligations settled	(15)
Interest accretion	22
Revisions in estimates and interest rate assumptions	(1)
Acquisitions, divestitures and other adjustments	4
Ending balance, landfill	1,541
Environmental Remediation Liabilities [Member]
Environmental Exit Cost [Line Items]
Beginning balance, environmental remediation	209
Obligations settled	(5)
Interest accretion	1
Revisions in estimates and interest rate assumptions	2
Acquisitions, divestitures and other adjustments	0
Ending balance, environmental remediation	$ 207

Debt - Components of Debt (Deta

Debt - Components of Debt (Detail) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Debt and capital lease obligations	$ 9,596	$ 8,929
Current portion of long-term debt	524	253
Long-term debt, less current portion	9,072	8,676
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt and capital lease obligations	458	20
Letter of Credit Facilities [Member]
Debt Instrument [Line Items]
Debt and capital lease obligations	0	0
Canadian Credit Facility and Term Loan [Member]
Debt Instrument [Line Items]
Debt and capital lease obligations	353	84
Senior Notes [Member]
Debt Instrument [Line Items]
Debt and capital lease obligations	6,039	6,050
Tax-exempt Bonds [Member]
Debt Instrument [Line Items]
Debt and capital lease obligations	2,418	2,447
Capital Leases and Other [Member]
Debt Instrument [Line Items]
Debt and capital lease obligations	$ 328	$ 328

Debt - Components of Debt (Pare

Debt - Components of Debt (Parenthetical) (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Senior Notes [Member]
Debt Instrument [Line Items]
Weighted average interest rate	4.70%	4.70%
Interest rate lower range	2.60%
Interest rate upper range	7.75%
End period of maturity for debt instrument	Mar. 1, 2045
Tax-exempt Bonds [Member]
Debt Instrument [Line Items]
Weighted average interest rate	2.00%	1.90%
Interest rate lower range	0.40%
Interest rate upper range	5.70%
End period of maturity for debt instrument	Aug. 1, 2045
Capital Leases and Other [Member]
Debt Instrument [Line Items]
Interest rate upper range	12.00%
End period of maturity for debt instrument	Dec. 31, 2055
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Credit Facility, aggregate capacity	$ 2,250,000,000
Weighted average interest rate	1.40%
Maturity date of credit facility	Jul. 30, 2020
Canadian Credit Facility and Term Loan [Member]
Debt Instrument [Line Items]
Weighted average interest rate	2.00%	2.20%
Maturity date of credit facility	Mar. 31, 2019
Standby Letters of Credit [Member]
Debt Instrument [Line Items]
Maturity date of credit facility	Dec. 31, 2018

Debt - Additional Information (

Debt - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2016USD ($)	Mar. 31, 2016CAD	Mar. 31, 2015USD ($)	Mar. 31, 2016CAD	Dec. 31, 2015USD ($)
Debt Instrument [Line Items]
Debt maturing within twelve months	$ 1,140,000,000
Current debt obligations	524,000,000				$ 253,000,000
Tax-exempt bonds subject to re-pricing within next 12 months	381,000,000
Debt maturing within twelve months classified as long-term	997,000,000
Letters of credit outstanding under credit facility	965,000,000
Loss on early extinguishment of debt	(1,000,000)		$ (550,000,000)
Tax-exempt Bonds [Member] | Variable Rate [Member]
Debt Instrument [Line Items]
Variable-rate tax-exempt bonds	$ 491,000,000
6.1% Senior Notes Due 2018 [Member]
Debt Instrument [Line Items]
Interest rate	6.10%			6.10%
Net borrowings (repayments) of senior notes	$ 10,000,000
Debt instrument face amount	600,000,000
Loss on early extinguishment of debt	$ (1,000,000)
Maturity period	2,018	2,018
2.6% Senior Notes Mature in September 2016 [Member]
Debt Instrument [Line Items]
Senior note amount intended to refinance on a long-term basis	$ 500,000,000
Interest rate	2.60%			2.60%
Senior Notes [Member]
Debt Instrument [Line Items]
Loss on early extinguishment of debt			(550,000,000)
Early extinguishment of high-coupon senior notes			$ 2,000,000,000
Canadian Credit Facility [Member]
Debt Instrument [Line Items]
Credit Facility, aggregate capacity | CAD				CAD 50,000,000
2016 Canadian Credit Agreement [Member] | Intercompany Debt [Member]
Debt Instrument [Line Items]
Repayment of debt	$ 280,000,000	CAD 370,000,000
Cash [Member] | Tax-exempt Bonds [Member]
Debt Instrument [Line Items]
Repayment of tax exempt bonds	30,000,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Credit Facility, aggregate capacity	2,250,000,000
Outstanding borrowings under credit facility classified as long-term	116,000,000
Outstanding borrowings under credit facility	458,000,000
Letters of credit outstanding under credit facility	$ 815,000,000
Maturity date of credit facility	Jul. 30, 2020	Jul. 30, 2020
Credit Facility, remaining capacity	$ 977,000,000
Net borrowings (repayments)	438,000,000
Letter of Credit Facilities [Member]
Debt Instrument [Line Items]
Credit Facility, aggregate capacity	$ 2,400,000,000
Maturity date of credit facility	Dec. 31, 2018	Dec. 31, 2018
Non Revolving Term Credit Facility [Member]
Debt Instrument [Line Items]
Credit Facility, aggregate capacity | CAD				460,000,000
Canadian Term Loan [Member]
Debt Instrument [Line Items]
Credit Facility, aggregate capacity | CAD				500,000,000
Credit Facility, remaining capacity | CAD				CAD 90,000,000
Net borrowings (repayments)	$ 20,000,000	CAD 27,000,000
Canadian Term Loan [Member] | 2016 Canadian Credit Agreement [Member]
Debt Instrument [Line Items]
Net borrowings (repayments)	$ 347,000,000	CAD 460,000,000

Derivative Instruments and He39

Derivative Instruments and Hedging Activities - Additional Information (Detail) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2016USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2015CAD
Foreign Currency Derivatives [Member] | Principal [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Notional amount of derivatives for intercompany debt | CAD				CAD 370,000,000
Foreign Currency Derivatives [Member] | Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Cash received in termination of foreign exchange cross currency swaps	$ 67
Expense associated with termination of foreign exchange cross currency swaps	8
Foreign Currency Derivatives [Member] | Cash Flow Hedging [Member] | Long-term other assets [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Foreign currency derivatives, Assets			$ 63
Foreign Currency Derivatives [Member] | Cash Flow Hedging [Member] | Current Other Assets [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Foreign currency derivatives, Assets			15
Forward Starting Interest Rate Swap [Member] | Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Deferred losses, net of taxes, related to cash flow hedges included in accumulated other comprehensive income (loss)	$ 41		43
Term of senior notes to amortize deferred losses	10 years
Treasury rate locks [Member] | Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Deferred losses scheduled to be reclassified out of accumulated other comprehensive into interest expense over next 12 months, pre-tax	$ 11
Interest Rate Swaps [Member] | Fair Value Hedge [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Increase in carrying value of debt instruments from fair value hedge accounting for interest rate swaps	21		$ 23
Benefits (losses) to interest expense associated with the amortization of our terminated interest rate swaps	$ 2	$ 2

Income Taxes - Additional infor

Income Taxes - Additional information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Taxes [Line Items]
Effective tax rate of income (loss) before income taxes	35.40%	41.00%
Equity in net losses of unconsolidated entities	$ 7	$ 8
Interest expense	95	104
Investment in Refined Coal Facility [Member]
Income Taxes [Line Items]
Equity in net losses of unconsolidated entities	1	1
Income tax benefit, including tax credits, from equity method investment	4	4
Investment in Low-Income Housing Properties [Member]
Income Taxes [Line Items]
Equity in net losses of unconsolidated entities	5	6
Interest expense	1	1
Affordable housing tax credits and other tax benefits amount from equity method investment	7	7
Tax credits from equity method investment	$ 5	$ 4

Earnings Per Share - Common Sha

Earnings Per Share - Common Share Data Used for Computing Basic and Diluted Earnings Per Share (Detail) - shares shares in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Earnings Per Share [Abstract]
Number of common shares outstanding at end of period	444.7	457.8
Effect of using weighted average common shares outstanding	1.4	0.7
Weighted average basic common shares outstanding	446.1	458.5
Dilutive effect of equity-based compensation awards and other contingently issuable shares	2.5
Weighted average diluted common shares outstanding	448.6	458.5
Potentially issuable shares	11.2	11.5
Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding	2.5	11.5

Commitments and Contingencies -

Commitments and Contingencies - Additional information (Detail)	3 Months Ended
	Mar. 31, 2016USD ($)siteLandfillHomeowners	Dec. 31, 2015USD ($)
Commitments And Contingencies [Line Items]
Term of guarantees of financial obligations	Guarantees of unconsolidated entities' financial obligations maturing through 2020
Maximum future payments regarding guarantees of unconsolidated entities financial obligations	$ 7,000,000
Number of landfills adjacent to or near homeowners' properties with agreements guaranteeing market value | Landfill	21
Approximate number of homeowners' properties adjacent to or near certain of our landfills with agreements guaranteeing market value | Homeowners	850
Environmental remediation reasonably possible additional losses high estimate	$ 190,000,000
Environmental remediation liabilities	$ 207,000,000
Number of sites listed on the EPA's NPL for which we have been notified we are a PRP | site	75
Number of owned sites listed on the EPA's NPL for which we have been notified we are a PRP | site	15
Number of non-owned sites listed on the EPA's NPL for which we have been notified we are a PRP | site	60
Approximate percentage of workforce covered by collective bargaining agreements	20.00%
2014 Audit [Member]
Commitments And Contingencies [Line Items]
Expected time of completion of IRS audits	3 months
2015 Audit [Member]
Commitments And Contingencies [Line Items]
Expected time of completion of IRS audits	12 months
2016 Audit [Member]
Commitments And Contingencies [Line Items]
Expected time of completion of IRS audits	24 months
Wheelabrator [Member]
Commitments And Contingencies [Line Items]
Maximum future payments regarding guarantees of unconsolidated entities financial obligations		$ 106,000,000
Financial and performance obligations, net liability	$ 13,000,000	$ 13,000,000
Maximum [Member]
Commitments And Contingencies [Line Items]
Dollar threshold for environmental matters requiring disclosure under item 103 of the SEC's Regulation S-K	100,000
Domestic Line of Credit [Member]
Commitments And Contingencies [Line Items]
Credit Facility, aggregate capacity	$ 2,250,000,000

Segment and Related Informati43

Segment and Related Information - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2016Areas
Segment Reporting Information [Line Items]
Number of geographical areas	17
Solid Waste [Member]
Segment Reporting Information [Line Items]
Number of geographical areas	17

Segment and Related Informati44

Segment and Related Information - Reportable Segments (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Segment Reporting Information [Line Items]
Operating revenues	$ 3,176	$ 3,040
Income from operations	508	440
Operating Segments [Member]
Segment Reporting Information [Line Items]
Operating revenues	3,782	3,575
Intercompany Operating Revenues [Member]
Segment Reporting Information [Line Items]
Operating revenues	(606)	(535)
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Income from operations	(143)	(143)
Solid Waste: Tier 1 [Member]
Segment Reporting Information [Line Items]
Operating revenues	1,029	1,005
Income from operations	334	296
Solid Waste: Tier 1 [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Operating revenues	1,241	1,195
Solid Waste: Tier 1 [Member] | Intercompany Operating Revenues [Member]
Segment Reporting Information [Line Items]
Operating revenues	(212)	(190)
Solid Waste: Tier 2 [Member]
Segment Reporting Information [Line Items]
Operating revenues	639	637
Income from operations	145	139
Solid Waste: Tier 2 [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Operating revenues	781	780
Solid Waste: Tier 2 [Member] | Intercompany Operating Revenues [Member]
Segment Reporting Information [Line Items]
Operating revenues	(142)	(143)
Solid Waste: Tier 3 [Member]
Segment Reporting Information [Line Items]
Operating revenues	1,048	942
Income from operations	208	178
Solid Waste: Tier 3 [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Operating revenues	1,260	1,122
Solid Waste: Tier 3 [Member] | Intercompany Operating Revenues [Member]
Segment Reporting Information [Line Items]
Operating revenues	(212)	(180)
Solid Waste [Member]
Segment Reporting Information [Line Items]
Operating revenues	2,716	2,584
Income from operations	687	613
Solid Waste [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Operating revenues	3,282	3,097
Solid Waste [Member] | Intercompany Operating Revenues [Member]
Segment Reporting Information [Line Items]
Operating revenues	(566)	(513)
Other [Member]
Segment Reporting Information [Line Items]
Operating revenues	460	456
Income from operations	(36)	(23)
Other [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Operating revenues	500	478
Other [Member] | Intercompany Operating Revenues [Member]
Segment Reporting Information [Line Items]
Operating revenues	(40)	(22)
Operating Group Total [Member]
Segment Reporting Information [Line Items]
Operating revenues	3,176	3,040
Income from operations	651	583
Operating Group Total [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Operating revenues	3,782	3,575
Operating Group Total [Member] | Intercompany Operating Revenues [Member]
Segment Reporting Information [Line Items]
Operating revenues	$ (606)	(535)
Wheelabrator [Member]
Segment Reporting Information [Line Items]
Income from operations		$ (7)

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) - USD ($)	Jan. 08, 2016	Mar. 26, 2015	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Business Acquisition [Line Items]
Total operating revenues			$ 3,176,000,000	$ 3,040,000,000
Consolidated net income			256,000,000	$ (131,000,000)
Allocation of purchase price to goodwill			6,215,000,000		$ 5,984,000,000
Revolving Credit Facility [Member]
Business Acquisition [Line Items]
Credit Facility, aggregate capacity			2,250,000,000
Deffenbaugh Disposal, Inc. [Member]
Business Acquisition [Line Items]
Total consideration, net of cash acquired, for business acquisitions closed during the year		$ 400,000,000
Allocation of purchase price to goodwill			159,000,000
Southern Waste Systems [Member]
Business Acquisition [Line Items]
Total operating revenues			37,000,000
Consolidated net income			1,000,000
Total consideration, net of cash acquired, for business acquisitions closed during the year	$ 525,000,000
Allocation of purchase price to goodwill	$ 250,000,000		$ 250,000,000

Acquisitions - Allocation of Pu

Acquisitions - Allocation of Purchase Price (Detail) - USD ($) $ in Millions	Mar. 31, 2016	Jan. 08, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Goodwill	$ 6,215		$ 5,984
Southern Waste Systems [Member]
Business Acquisition [Line Items]
Property and equipment		$ 93
Goodwill	250	250
Other intangible assets		182
Total purchase price		$ 525
Deffenbaugh Disposal, Inc. [Member]
Business Acquisition [Line Items]
Cash and cash equivalents	15
Accounts and other receivables	22
Parts and supplies	2
Deferred income tax asset	11
Other current assets	10
Property and equipment	207
Goodwill	159
Other intangible assets	100
Other assets	1
Accounts payable	(2)
Accrued liabilities	(20)
Deferred revenues	(6)
Landfill and environmental remediation liabilities	(18)
Deferred income tax liability	(52)
Other liabilities	(14)
Total purchase price	$ 415

Acquisitions - Schedule of Fina

Acquisitions - Schedule of Final and Preliminary Allocations of Purchase Price (Detail) - USD ($) $ in Millions	Mar. 31, 2016	Jan. 08, 2016
Deffenbaugh Disposal, Inc. [Member]
Finite-Lived Intangible Assets [Line Items]
Total other intangible assets subject to amortization, Amount	$ 100
Total other intangible assets subject to amortization, Weighted Average Amortization Periods	15 years
Deffenbaugh Disposal, Inc. [Member] | Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Total other intangible assets subject to amortization, Amount	$ 94
Total other intangible assets subject to amortization, Weighted Average Amortization Periods	15 years
Deffenbaugh Disposal, Inc. [Member] | Trade Name [Member]
Finite-Lived Intangible Assets [Line Items]
Total other intangible assets subject to amortization, Amount	$ 6
Total other intangible assets subject to amortization, Weighted Average Amortization Periods	15 years
Southern Waste Systems [Member]
Finite-Lived Intangible Assets [Line Items]
Total other intangible assets subject to amortization, Amount		$ 182
Total other intangible assets subject to amortization, Weighted Average Amortization Periods		9 years 6 months
Southern Waste Systems [Member] | Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Total other intangible assets subject to amortization, Amount		$ 160
Total other intangible assets subject to amortization, Weighted Average Amortization Periods		10 years
Southern Waste Systems [Member] | Noncompete Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Total other intangible assets subject to amortization, Amount		$ 18
Total other intangible assets subject to amortization, Weighted Average Amortization Periods		5 years
Southern Waste Systems [Member] | Trade Name [Member]
Finite-Lived Intangible Assets [Line Items]
Total other intangible assets subject to amortization, Amount		$ 4
Total other intangible assets subject to amortization, Weighted Average Amortization Periods		10 years

Acquisitions - ProForma Consoli

Acquisitions - ProForma Consolidated Results of Operations (Detail) - Deffenbaugh Disposal Inc And Southern Waste Systems [Member] - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Business Acquisition [Line Items]
Operating revenues	$ 3,178	$ 3,111
Net income (loss) attributable to Waste Management, Inc.	$ 258	$ (130)
Basic earnings (loss) per common share	$ 0.58	$ (0.28)
Diluted earnings (loss) per common share	$ 0.58	$ (0.28)

Asset Impairments and Unusual49

Asset Impairments and Unusual Items - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Expense From Divestitures Asset Impairments And Unusual Items [Line Items]
(Income) expense from divestitures, asset impairments and unusual items	$ (1)	$ 13
Western Canada Area [Member] | Landfill [Member]
Income Expense From Divestitures Asset Impairments And Unusual Items [Line Items]
Impairment of landfill		5
Wheelabrator [Member]
Income Expense From Divestitures Asset Impairments And Unusual Items [Line Items]
Post-closing adjustment from divestitures		$ (7)

Accumulated Other Comprehensi50

Accumulated Other Comprehensive Income (Loss) - Components of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Beginning balance	$ (127)
Other comprehensive income (loss) before reclassifications, net of tax	55
Amounts reclassified from accumulated other comprehensive income, net of tax	14
Other comprehensive income (loss), net of taxes	69	$ (73)
Accumulated Other Comprehensive Income (Loss), Ending balance	(58)
Derivative Instruments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Beginning balance	(52)
Other comprehensive income (loss) before reclassifications, net of tax	(7)
Amounts reclassified from accumulated other comprehensive income, net of tax	14
Other comprehensive income (loss), net of taxes	7
Accumulated Other Comprehensive Income (Loss), Ending balance	(45)
Available-for-Sale Securities [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Beginning balance	8
Other comprehensive income (loss) before reclassifications, net of tax	1
Other comprehensive income (loss), net of taxes	1
Accumulated Other Comprehensive Income (Loss), Ending balance	9
Foreign Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Beginning balance	(75)
Other comprehensive income (loss) before reclassifications, net of tax	61
Other comprehensive income (loss), net of taxes	61
Accumulated Other Comprehensive Income (Loss), Ending balance	(14)
Post - Retirement Benefit Plans [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Beginning balance	(8)
Accumulated Other Comprehensive Income (Loss), Ending balance	$ (8)

Accumulated Other Comprehensi51

Accumulated Other Comprehensive Income (Loss) - Components of Accumulated Other Comprehensive Income (Loss) (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss), tax	$ (4)	$ 9
Derivative Instruments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss), tax	(4)
Amounts reclassified from accumulated other comprehensive income, tax	9
Available-for-Sale Securities [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss), tax	0
Amounts reclassified from accumulated other comprehensive income, tax	0
Foreign Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss), tax	0
Amounts reclassified from accumulated other comprehensive income, tax	0
Post - Retirement Benefit Plans [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss), tax	0
Amounts reclassified from accumulated other comprehensive income, tax	$ 0

Accumulated Other Comprehensi52

Accumulated Other Comprehensive Income (Loss) - Other Comprehensive Income (Loss) Before Reclassifications Associated With the Effective Portion of Derivatives Designated as Cash Flow Hedges (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Tax (expense) benefit	$ 4	$ (9)
Net of tax	(7)	15
Foreign Currency Derivatives [Member] | Cash Flow Hedging [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss) on derivatives before tax	$ (11)	$ 24

Accumulated Other Comprehensi53

Accumulated Other Comprehensive Income (Loss) - Reclassification of Component of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense, net	$ (95)	$ (104)
Other, net	(9)
Income (loss) before income taxes	396	(222)
Tax (expense) benefit	(140)	91
Total reclassifications for the period, Net of tax	256	(131)
Amount Reclassified from Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income (loss) before income taxes	(23)	20
Tax (expense) benefit	9	(8)
Total reclassifications for the period, Net of tax	(14)	12
Interest Rate Swaps [Member] | Amount Reclassified from Accumulated Other Comprehensive Income [Member] | Cash Flow Hedging [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense, net	(3)	(3)
Treasury Rate Locks [Member] | Amount Reclassified from Accumulated Other Comprehensive Income [Member] | Cash Flow Hedging [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense, net		(3)
Foreign Currency Derivatives [Member] | Amount Reclassified from Accumulated Other Comprehensive Income [Member] | Cash Flow Hedging [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other, net	$ (20)	$ 26

Share Repurchases - Additional

Share Repurchases - Additional Information (Detail) $ / shares in Units, shares in Millions	1 Months Ended					3 Months Ended
	Apr. 28, 2016$ / sharesshares	Mar. 31, 2016USD ($)Arrangements$ / sharesshares	Feb. 29, 2016$ / sharesshares	Jan. 31, 2016USD ($)$ / sharesshares	Dec. 31, 2015USD ($)	Mar. 31, 2016USD ($)Arrangements$ / shares
Accelerated Share Repurchases [Line Items]
Common stock repurchases						$ 250,000,000
Cash paid for repurchase of common stock						250,000,000
Authorization of future share repurchase		$ 900,000,000				$ 900,000,000
Number of ASRs completed | Arrangements		2				2
Accelerated Share Repurchase Agreement (ASR) [Member]
Accelerated Share Repurchases [Line Items]
Common stock repurchases		$ 100,000,000			$ 150,000,000
Shares of common stock received under ASR | shares		1.2	0.9	2
Cash paid for repurchase of common stock		$ 100,000,000		$ 150,000,000
Accelerated share repurchase, price per share | $ / shares		$ 56.95		$ 53.37		$ 56.95
Accelerated Share Repurchase Agreement (ASR) [Member] | Weighted Average [Member]
Accelerated Share Repurchases [Line Items]
Final weighted average per share purchase price during the repurchase period | $ / shares			$ 53.15
Accelerated Share Repurchase Agreement (ASR) [Member] | Subsequent Event [Member]
Accelerated Share Repurchases [Line Items]
Shares of common stock received under ASR | shares	0.5
Accelerated Share Repurchase Agreement (ASR) [Member] | Subsequent Event [Member] | Weighted Average [Member]
Accelerated Share Repurchases [Line Items]
Final weighted average per share purchase price during the repurchase period | $ / shares	$ 58.33

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value of Assets and Liabilities Measured on Recurring Basis (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	$ 167	$ 243
Money Market Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	34	35
Available-for-sale Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	44	43
Fixed-Income Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	41	40
Foreign Currency Derivatives [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency derivatives		78
Redeemable Preferred Stock [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	48	47
Quoted Prices in Active Markets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	34	35
Quoted Prices in Active Markets (Level 1) [Member] | Money Market Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	34	35
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	85	161
Significant Other Observable Inputs (Level 2) [Member] | Available-for-sale Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	44	43
Significant Other Observable Inputs (Level 2) [Member] | Fixed-Income Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	41	40
Significant Other Observable Inputs (Level 2) [Member] | Foreign Currency Derivatives [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency derivatives		78
Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	48	47
Significant Unobservable Inputs (Level 3) [Member] | Redeemable Preferred Stock [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	$ 48	$ 47

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Carrying value of debt	$ 9,596	$ 8,929
Net borrowings	654
Reported Value Measurement [Member]
Debt Instrument [Line Items]
Carrying value of debt	9,600	8,900
Estimate of Fair Value Measurement [Member]
Debt Instrument [Line Items]
Fair value of debt	$ 10,100	$ 9,200

Variable Interest Entities - Ad

Variable Interest Entities - Additional Information (Detail) - USD ($) $ in Millions	1 Months Ended
	Jan. 31, 2011	Apr. 30, 2010	Mar. 31, 2016	Dec. 31, 2015
Trust for Final Capping Closure Post Closure or Environmental Remediation Obligations [Member]
Variable Interest Entity [Line Items]
Variable interest entities primary beneficiary trust fair value assets			$ 94	$ 94
Carrying value of trusts for which company is not the sole beneficiary			93	93
Investment in Refined Coal Facility [Member]
Variable Interest Entity [Line Items]
Cash payment to acquire equity method investment	$ 48
Investment balance			32	29
Investment in Low-Income Housing Properties [Member]
Variable Interest Entity [Line Items]
Cash payment to acquire equity method investment		$ 6
Investment balance			75	81
Consideration for investment		221
Consideration for investment, notes payable		$ 215
Equity method investments debt balance			$ 74	$ 80

Condensed Consolidating Finan58

Condensed Consolidating Financial Statements - Condensed Consolidating Balance Sheets (Detail) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 104	$ 39	$ 277	$ 1,307
Other current assets	2,198	2,306
Total current assets	2,302	2,345
Property and equipment, net	10,796	10,665
Other assets	7,683	7,357
Total assets	20,781	20,367
Current liabilities:
Current portion of long-term debt	524	253
Accounts payable and other current liabilities	2,036	2,257
Total current liabilities	2,560	2,510
Long-term debt, less current portion	9,072	8,676
Other liabilities	3,839	3,814
Total liabilities	15,471	15,000
Equity:
Stockholders' equity	5,290	5,345
Noncontrolling interests	20	22
Total equity	5,310	5,367
Total liabilities and equity	20,781	20,367
Eliminations [Member]
Current assets:
Investments in and advances to affiliates	(45,547)	(44,833)
Total assets	(45,547)	(44,833)
Current liabilities:
Due to affiliates	(7,401)	(7,365)
Total liabilities	(7,401)	(7,365)
Equity:
Stockholders' equity	(38,146)	(37,468)
Total equity	(38,146)	(37,468)
Total liabilities and equity	(45,547)	(44,833)
WM [Member]
Current assets:
Cash and cash equivalents			168	1,235
Other current assets	4	3
Total current assets	4	3
Investments in and advances to affiliates	18,861	18,557
Other assets	18	23
Total assets	18,883	18,583
Current liabilities:
Current portion of long-term debt	341	41
Accounts payable and other current liabilities	60	83
Total current liabilities	401	124
Long-term debt, less current portion	5,927	5,801
Due to affiliates	7,250	7,289
Other liabilities	15	24
Total liabilities	13,593	13,238
Equity:
Stockholders' equity	5,290	5,345
Total equity	5,290	5,345
Total liabilities and equity	18,883	18,583
WM Holdings [Member]
Current assets:
Other current assets	6	6
Total current assets	6	6
Investments in and advances to affiliates	19,285	18,911
Other assets	29	29
Total assets	19,320	18,946
Current liabilities:
Accounts payable and other current liabilities	4	9
Total current liabilities	4	9
Long-term debt, less current portion	304	304
Due to affiliates	151	76
Total liabilities	459	389
Equity:
Stockholders' equity	18,861	18,557
Total equity	18,861	18,557
Total liabilities and equity	19,320	18,946
Non-Guarantor Subsidiaries [Member]
Current assets:
Cash and cash equivalents	104	39	$ 109	$ 72
Other current assets	2,188	2,297
Total current assets	2,292	2,336
Property and equipment, net	10,796	10,665
Investments in and advances to affiliates	7,401	7,365
Other assets	7,636	7,305
Total assets	28,125	27,671
Current liabilities:
Current portion of long-term debt	183	212
Accounts payable and other current liabilities	1,972	2,165
Total current liabilities	2,155	2,377
Long-term debt, less current portion	2,841	2,571
Other liabilities	3,824	3,790
Total liabilities	8,820	8,738
Equity:
Stockholders' equity	19,285	18,911
Noncontrolling interests	20	22
Total equity	19,305	18,933
Total liabilities and equity	$ 28,125	$ 27,671

Condensed Consolidating Finan59

Condensed Consolidating Financial Statements - Condensed Consolidating Statements of Operations (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Condensed Income Statements, Captions [Line Items]
Operating revenues	$ 3,176	$ 3,040
Costs and expenses	2,668	2,600
Income from operations	508	440
Other income (expense):
Interest expense, net	(95)	(104)
Loss on early extinguishment of debt	(1)	(550)
Other, net	(16)	(8)
Total other income (expense)	(112)	(662)
Income (loss) before income taxes	396	(222)
Provision for (benefit from) income taxes	140	(91)
Consolidated net income (loss)	256	(131)
Less: Net income (loss) attributable to noncontrolling interests	(2)	(2)
Net income (loss) attributable to Waste Management, Inc.	258	(129)
Eliminations [Member]
Other income (expense):
Equity in earnings of subsidiaries, net of taxes	(611)	(504)
Total other income (expense)	(611)	(504)
Income (loss) before income taxes	(611)	(504)
Consolidated net income (loss)	(611)	(504)
Net income (loss) attributable to Waste Management, Inc.	(611)	(504)
WM [Member]
Other income (expense):
Interest expense, net	(74)	(79)
Loss on early extinguishment of debt	(1)	(498)
Equity in earnings of subsidiaries, net of taxes	304	231
Total other income (expense)	229	(346)
Income (loss) before income taxes	229	(346)
Provision for (benefit from) income taxes	(29)	(217)
Consolidated net income (loss)	258	(129)
Net income (loss) attributable to Waste Management, Inc.	258	(129)
WM Holdings [Member]
Condensed Income Statements, Captions [Line Items]
Costs and expenses		6
Income from operations		(6)
Other income (expense):
Interest expense, net	(5)	(7)
Loss on early extinguishment of debt		(52)
Equity in earnings of subsidiaries, net of taxes	307	273
Total other income (expense)	302	214
Income (loss) before income taxes	302	208
Provision for (benefit from) income taxes	(2)	(23)
Consolidated net income (loss)	304	231
Net income (loss) attributable to Waste Management, Inc.	304	231
Non-Guarantor Subsidiaries [Member]
Condensed Income Statements, Captions [Line Items]
Operating revenues	3,176	3,040
Costs and expenses	2,668	2,594
Income from operations	508	446
Other income (expense):
Interest expense, net	(16)	(18)
Other, net	(16)	(8)
Total other income (expense)	(32)	(26)
Income (loss) before income taxes	476	420
Provision for (benefit from) income taxes	171	149
Consolidated net income (loss)	305	271
Less: Net income (loss) attributable to noncontrolling interests	(2)	(2)
Net income (loss) attributable to Waste Management, Inc.	$ 307	$ 273

Condensed Consolidating Finan60

Condensed Consolidating Financial Statements - Condensed Consolidating Statements of Comprehensive Income (Loss) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Condensed Income Statements, Captions [Line Items]
Comprehensive income (loss)	$ 325	$ (204)
Less: Comprehensive income (loss) attributable to noncontrolling interests	(2)	(2)
Comprehensive income (loss) attributable to Waste Management, Inc.	327	(202)
Eliminations [Member]
Condensed Income Statements, Captions [Line Items]
Comprehensive income (loss)	(611)	(504)
Comprehensive income (loss) attributable to Waste Management, Inc.	(611)	(504)
WM [Member]
Condensed Income Statements, Captions [Line Items]
Comprehensive income (loss)	260	(125)
Comprehensive income (loss) attributable to Waste Management, Inc.	260	(125)
WM Holdings [Member]
Condensed Income Statements, Captions [Line Items]
Comprehensive income (loss)	304	231
Comprehensive income (loss) attributable to Waste Management, Inc.	304	231
Non-Guarantor Subsidiaries [Member]
Condensed Income Statements, Captions [Line Items]
Comprehensive income (loss)	372	194
Less: Comprehensive income (loss) attributable to noncontrolling interests	(2)	(2)
Comprehensive income (loss) attributable to Waste Management, Inc.	$ 374	$ 196

Condensed Consolidating Finan61

Condensed Consolidating Financial Statements - Condensed Consolidating Statements of Cash Flows (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Consolidated net income (loss)	$ 256	$ (131)
Other adjustments	450	630
Net cash provided by operating activities	706	499
Cash flows from investing activities:
Acquisitions of businesses, net of cash acquired	(537)	(445)
Capital expenditures	(317)	(233)
Proceeds from divestitures of businesses and other assets (net of cash divested)	13	19
Net receipts from restricted trust and escrow accounts and other, net	(6)	31
Net cash used in investing activities	(847)	(628)
Cash flows from financing activities:
New borrowings	1,301	1,817
Debt repayments	(647)	(2,029)
Premiums paid on early extinguishment of debt	(1)	(554)
Common stock repurchases	(250)
Cash dividends	(183)	(176)
Exercise of common stock options	18	39
Other, net	(32)	5
Net cash provided by (used in) financing activities	206	(898)
Effect of exchange rate changes on cash and cash equivalents		(3)
Increase (decrease) in cash and cash equivalents	65	(1,030)
Cash and cash equivalents at beginning of period	39	1,307
Cash and cash equivalents at end of period	104	277
Eliminations [Member]
Cash flows from operating activities:
Consolidated net income (loss)	(611)	(504)
Equity in earnings of subsidiaries, net of taxes	611	504
WM [Member]
Cash flows from operating activities:
Consolidated net income (loss)	258	(129)
Equity in earnings of subsidiaries, net of taxes	(304)	(231)
Other adjustments	(20)	(23)
Net cash provided by operating activities	(66)	(383)
Cash flows from financing activities:
New borrowings	914	1,781
Debt repayments	(487)	(1,820)
Premiums paid on early extinguishment of debt	(1)	(502)
Common stock repurchases	(250)
Cash dividends	(183)	(176)
Exercise of common stock options	18	39
Other, net	7	5
(Increase) decrease in intercompany and investments, net	48	(11)
Net cash provided by (used in) financing activities	66	(684)
Increase (decrease) in cash and cash equivalents		(1,067)
Cash and cash equivalents at beginning of period		1,235
Cash and cash equivalents at end of period		168
WM Holdings [Member]
Cash flows from operating activities:
Consolidated net income (loss)	304	231
Equity in earnings of subsidiaries, net of taxes	(307)	(273)
Other adjustments	(6)	(10)
Net cash provided by operating activities	(9)	(52)
Cash flows from financing activities:
Debt repayments		(144)
Premiums paid on early extinguishment of debt		(52)
(Increase) decrease in intercompany and investments, net	9	248
Net cash provided by (used in) financing activities	9	52
Non-Guarantor Subsidiaries [Member]
Cash flows from operating activities:
Consolidated net income (loss)	305	271
Other adjustments	476	663
Net cash provided by operating activities	781	934
Cash flows from investing activities:
Acquisitions of businesses, net of cash acquired	(537)	(445)
Capital expenditures	(317)	(233)
Proceeds from divestitures of businesses and other assets (net of cash divested)	13	19
Net receipts from restricted trust and escrow accounts and other, net	(6)	31
Net cash used in investing activities	(847)	(628)
Cash flows from financing activities:
New borrowings	387	36
Debt repayments	(160)	(65)
Other, net	(39)
(Increase) decrease in intercompany and investments, net	(57)	(237)
Net cash provided by (used in) financing activities	131	(266)
Effect of exchange rate changes on cash and cash equivalents		(3)
Increase (decrease) in cash and cash equivalents	65	37
Cash and cash equivalents at beginning of period	39	72
Cash and cash equivalents at end of period	$ 104	$ 109