Waste Management (WM) 10-K 14 Feb 19 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2018	Feb. 08, 2019	Jun. 30, 2018
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	FY
Entity Current Reporting Status	Yes
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		423,779,540
Entity Public Float			$ 34.8
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	Yes

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 61	$ 22
Accounts receivable, net of allowance for doubtful accounts of $29 and $21, respectively	1,931	1,805
Other receivables	344	569
Parts and supplies	102	96
Other assets	207	202
Total current assets	2,645	2,694
Property and equipment, net of accumulated depreciation and amortization of $18,264 and $17,704, respectively	11,942	11,559
Goodwill	6,430	6,247
Other intangible assets, net	572	547
Restricted trust and escrow accounts	296	249
Investments in unconsolidated entities	406	269
Other assets	359	264
Total assets	22,650	21,829
Current liabilities:
Accounts payable	1,037	1,040
Accrued liabilities	1,117	980
Deferred revenues	522	503
Current portion of long-term debt	432	739
Total current liabilities	3,108	3,262
Long-term debt, less current portion	9,594	8,752
Deferred income taxes	1,291	1,248
Landfill and environmental remediation liabilities	1,828	1,770
Other liabilities	553	755
Total liabilities	16,374	15,787
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	4,993	4,933
Retained earnings	9,797	8,588
Accumulated other comprehensive income (loss)	(87)	8
Treasury stock at cost, 206,299,352 and 196,963,558 shares, respectively	(8,434)	(7,516)
Total Waste Management, Inc. stockholders’ equity	6,275	6,019
Noncontrolling interests	1	23
Total equity	6,276	6,042
Total liabilities and equity	$ 22,650	$ 21,829

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
CONSOLIDATED BALANCE SHEETS
Allowance for doubtful accounts	$ 29	$ 21
Accumulated depreciation and amortization	$ 18,264	$ 17,704
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	206,299,352	196,963,558

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
CONSOLIDATED STATEMENTS OF OPERATIONS
Operating revenues	$ 14,914	$ 14,485	$ 13,609
Costs and expenses:
Operating	9,249	9,021	8,486
Selling, general and administrative	1,453	1,468	1,410
Depreciation and amortization	1,477	1,376	1,301
Restructuring	4		4
(Gain) loss from divestitures, asset impairments and unusual items, net	(58)	(16)	112
Total costs and expenses	12,125	11,849	11,313
Income from operations	2,789	2,636	2,296
Other income (expense):
Interest expense, net	(374)	(363)	(376)
Equity in net losses of unconsolidated entities	(41)	(68)	(44)
Other, net	2	(14)	(54)
Total other income (expense)	(413)	(445)	(474)
Income before income taxes	2,376	2,191	1,822
Income tax expense	453	242	642
Consolidated net income	1,923	1,949	1,180
Less: Net loss attributable to noncontrolling interests	(2)		(2)
Net income attributable to Waste Management, Inc.	$ 1,925	$ 1,949	$ 1,182
Basic earnings per common share	$ 4.49	$ 4.44	$ 2.66
Diluted earnings per common share	4.45	4.41	2.65
Cash dividends declared per common share	$ 1.86	$ 1.70	$ 1.64

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Consolidated net income	$ 1,923	$ 1,949	$ 1,180
Derivative instruments, net	8	7	12
Available-for-sale securities, net	5	2	5
Foreign currency translation adjustments	(105)	76	28
Post-retirement benefit obligation, net	2	3	2
Other comprehensive income (loss), net of tax	(90)	88	47
Comprehensive income	1,833	2,037	1,227
Less: Comprehensive loss attributable to noncontrolling interests	(2)		(2)
Comprehensive income attributable to Waste Management, Inc.	$ 1,835	$ 2,037	$ 1,229

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash flows from operating activities:
Consolidated net income	$ 1,923	$ 1,949	$ 1,180
Adjustments to reconcile consolidated net income to net cash provided by operating activities:
Depreciation and amortization	1,477	1,376	1,301
Deferred income tax expense (benefit)	25	(251)	73
Interest accretion on landfill liabilities	95	92	91
Provision for bad debts	54	43	42
Equity-based compensation expense	89	101	90
Net gain on disposal of assets	(47)	(20)	(24)
(Gain) loss from divestitures, asset impairments and other, net	(58)	49	114
Equity in net losses of unconsolidated entities, net of dividends	41	39	44
Change in operating assets and liabilities, net of effects of acquisitions and divestitures:
Receivables	(16)	(271)	(78)
Other current assets	(16)	50	(12)
Other assets	(14)	(66)	75
Accounts payable and accrued liabilities	203	126	192
Deferred revenues and other liabilities	(186)	(37)	(85)
Net cash provided by operating activities	3,570	3,180	3,003
Cash flows from investing activities:
Acquisitions of businesses, net of cash acquired	(460)	(198)	(608)
Capital expenditures	(1,694)	(1,509)	(1,339)
Proceeds from divestitures of businesses and other assets (net of cash divested)	208	99	43
Other, net	(223)	(12)	(25)
Net cash used in investing activities	(2,169)	(1,620)	(1,929)
Cash flows from financing activities:
New borrowings	359	1,479	3,057
Debt repayments	(499)	(1,907)	(2,682)
Net commercial paper borrowings	453	513
Common stock repurchase program	(1,004)	(750)	(725)
Cash dividends	(802)	(750)	(726)
Exercise of common stock options	52	95	63
Tax payments associated with equity-based compensation transactions	(29)	(47)	(30)
Other, net	(38)	6	(41)
Net cash used in financing activities	(1,508)	(1,361)	(1,084)
Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents	(3)
Increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents	(110)	199	(10)
Cash, cash equivalents and restricted cash and cash equivalents at beginning of period	293	94	104
Cash, cash equivalents and restricted cash and cash equivalents at end of period	$ 183	$ 293	$ 94

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Reconciliation of cash, cash equivalents and restricted cash and cash equivalents at end of period:
Cash and cash equivalents	$ 61	$ 22	$ 32
Restricted cash and cash equivalents included in other current assets	49	70
Restricted cash and cash equivalents included in restricted trust and escrow accounts	73	201	62
Cash, cash equivalents and restricted cash and cash equivalents at end of period	$ 183	$ 293	$ 94

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - USD ($) $ in Millions	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Loss [Member]	Treasury Stock [Member]	Noncontrolling Interests [Member]	Total
Beginning balance at Dec. 31, 2015	$ 6	$ 4,827	$ 6,939	$ (127)	$ (6,300)	$ 22	$ 5,367
Beginning balance, shares at Dec. 31, 2015	630,282				(183,105)
Equity roll forward
Consolidated net income			1,182			(2)	1,180
Other comprehensive income (loss), net of tax				47			47
Cash dividends			(726)				(726)
Equity-based compensation transactions, net of tax		69	(7)		$ 124		186
Equity-based compensation transaction, shares					3,556
Common stock repurchase program		(45)			$ (680)		$ (725)
Common stock repurchase program, shares					(11,241)		(11,241,000)
Other, net		(1)			$ (11)	3	$ (9)
Other, net, shares					(177)
Ending balance at Dec. 31, 2016	$ 6	4,850	7,388	(80)	$ (6,867)	23	5,320
Ending balance, shares at Dec. 31, 2016	630,282				(190,967)
Equity roll forward
Consolidated net income			1,949				1,949
Other comprehensive income (loss), net of tax				88			88
Cash dividends			(750)				(750)
Equity-based compensation transactions, net of tax		38	1		$ 146		185
Equity-based compensation transaction, shares					4,064
Common stock repurchase program		45			$ (795)		$ (750)
Common stock repurchase program, shares					(10,058)		(10,058,000)
Other, net, shares					(3)
Ending balance at Dec. 31, 2017	$ 6	4,933	8,588	8	$ (7,516)	23	$ 6,042
Ending balance, shares at Dec. 31, 2017	630,282				(196,964)
Equity roll forward
Adoption of new accounting standards			85	(5)			80
Consolidated net income			1,925			(2)	1,923
Other comprehensive income (loss), net of tax				(90)			(90)
Cash dividends			(802)				(802)
Equity-based compensation transactions, net of tax		60	1		$ 90		151
Equity-based compensation transaction, shares					2,345
Common stock repurchase program					$ (1,008)		$ (1,008)
Common stock repurchase program, shares					(11,673)		(11,673,000)
Divestiture of noncontrolling interest						(19)	$ (19)
Other, net						(1)	(1)
Other, net, shares					(7)
Ending balance at Dec. 31, 2018	$ 6	$ 4,993	$ 9,797	$ (87)	$ (8,434)	$ 1	$ 6,276
Ending balance, shares at Dec. 31, 2018	630,282				(206,299)

Business

Business	12 Months Ended
	Dec. 31, 2018
Business
Business	1. Business The financial statements presented in this report represent the consolidation of Waste Management, Inc., a Delaware corporation; its wholly-owned and majority-owned subsidiaries; and certain variable interest entities for which Waste Management, Inc. or its subsidiaries are the primary beneficiaries as described in Note 18. Waste Management, Inc. 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., its consolidated subsidiaries and consolidated variable interest entities. 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, disposal, and recycling and resource recovery services. Through our subsidiaries, we are also a leading developer, operator and owner of landfill gas-to-energy facilities in the United States (“U.S.”). We evaluate, oversee and manage the financial performance of our Solid Waste business subsidiaries through our 17 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 is included in Note 19.

New Accounting Standards and Re

New Accounting Standards and Reclassifications	12 Months Ended
	Dec. 31, 2018
New Accounting Standards and Reclassifications
New Accounting Standards and Reclassifications	2. New Accounting Standards and Reclassifications Adoption of New Accounting Standards Revenue Recognition — In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09 associated with revenue recognition. On January 1, 2018, we adopted ASU 2014-09 using the modified retrospective approach for all ongoing customer contracts. Our results of operations for the reported periods after January 1, 2018 are presented under this amended guidance, while prior period amounts are not adjusted and continue to be reported in accordance with historical accounting guidance. The impact of adopting the amended guidance primarily relates to (i) the deferral of certain sales incentives, which previously were expensed as incurred, but under the new guidance are capitalized as other assets and amortized to selling, general and administrative expenses over the expected life of the customer relationship and (ii) the recognition of certain consideration payable to our customers as a reduction in operating revenues, which under historical guidance was recorded as operating expenses. We recognized a net $80 million increase to our retained earnings as of January 1, 2018 for the cumulative impact of adopting the amended guidance associated with the capitalization of sales incentives as contract acquisition costs consisting of a $108 million asset and a related $28 million deferred tax liability. There were no material impacts on our consolidated financial statements, which include these changes, as a result of our adoption of this amended guidance. For contracts with an effective term greater than one year, we applied the standard’s practical expedient that permits the exclusion of unsatisfied performance obligations as our right to consideration corresponds directly to the value provided to the customer for services completed to date and all future variable consideration is allocated to wholly unsatisfied performance obligations. We also applied the standard’s optional exemption for performance obligations related to contracts that have an original expected duration of one year or less. See Note 3 for additional information and disclosures related to this amended guidance. Financial Instruments — In January 2016, the FASB issued ASU 2016‑01 associated with the recognition and measurement of financial assets and liabilities with further clarifications made in February 2018 with the issuance of ASU 2018-03. The amended guidance requires certain equity investments that are not consolidated and not accounted for under the equity method to be measured at fair value with changes in fair value recognized in net income rather than as a component of accumulated other comprehensive income (loss). It further states that an entity may choose to measure equity investments that do not have readily determinable fair values using a quantitative approach, or measurement alternative, which is equal to its cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. The Company adopted this amended guidance on January 1, 2018 using a prospective transition approach, which did not have an impact on our consolidated financial statements. We concluded that all equity investments within the scope of ASU 2016-01, which primarily relate to equity securities previously accounted for under the cost method, do not have readily determinable fair values. Accordingly, the value of these investments beginning January 1, 2018 has been measured using a quantitative approach, or the measurement alternative, as noted above. See Note 3 for additional information and disclosures related to this amended guidance. Statement of Cash Flows — In August 2016, the FASB issued ASU 2016‑15 associated with the classification of certain cash receipts and cash payments in the statement of cash flows. In November 2016, the FASB issued ASU 2016‑18 associated with the presentation of restricted cash and cash equivalents in the statement of cash flows. The objective of the amended guidance was to reduce existing diversity in practice. This amended guidance was retrospectively adopted on January 1, 2018 and required the following disclosures and changes to the presentation of our financial statements: · Cash, cash equivalents and restricted cash and cash equivalents reported on the Consolidated Statements of Cash Flows now includes restricted cash and cash equivalents of $65 million, $62 million and $271 million as of December 31, 2015, 2016 and 2017, respectively, in restricted trust and escrow accounts and other current assets in our Consolidated Balance Sheets as well as previously reported cash and cash equivalents. · Cash payments made within 120 days of the acquisition date of a business combination to settle a contingent consideration liability are classified as cash outflows from investing activities. Thereafter, cash payments up to the amount of the contingent consideration liability recognized at the acquisition date (including measurement period adjustments) are classified as cash outflows from financing activities and any excess is classified as cash outflows from operating activities. The adoption of this amended guidance did not have a material impact on our Consolidated Statements of Cash Flows. Our restricted cash and cash equivalents generally consist of funds deposited into specific accounts for purposes of funding insurance claims and demonstrating our ability to meet our landfill final capping, closure, post-closure and environmental remediation obligations. Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income — In February 2018, the FASB issued ASU 2018-02 associated with the reclassification of certain tax effects from accumulated other comprehensive income (loss). This amended guidance allows a reclassification from accumulated other comprehensive income (loss) to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act (the “Act”) which was signed into law on December 22, 2017. We early adopted this amended guidance on January 1, 2018, and as a result, elected to reclassify $5 million of stranded tax effects from accumulated other comprehensive income (loss) to retained earnings using a specific identification approach. See Note 12 for additional disclosures related to this amended guidance. Income Taxes — In March 2018, the FASB issued ASU 2018-05 associated with the accounting and disclosures around the enactment of the Act and the Securities and Exchange Commission’s Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act (“SAB 118”), which the Company has adopted. See Note 8 for the disclosures related to this amended guidance. New Accounting Standards Pending Adoption Financial Instrument Credit Losses — In June 2016, the FASB issued ASU 2016‑13 associated with the measurement of credit losses on financial instruments. The amended guidance replaces the current incurred loss impairment methodology of recognizing credit losses when a loss is probable, with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to assess credit loss estimates. The amended guidance is effective for the Company on January 1, 2020. We are assessing the provisions of this amended guidance and evaluating the impact on our consolidated financial statements. Leases — In February 2016, the FASB issued ASU 2016‑02 associated with lease accounting. There have been further amendments, including practical expedients, with the issuance of ASU 2018-01 in January 2018, ASU 2018-11 in July 2018 and ASU 2018-20 in December 2018. The amended guidance requires the recognition of lease assets and lease liabilities on the balance sheet for those leases with terms in excess of 12 months and currently classified as operating leases. Disclosure of key information about leasing arrangements will also be required. We elected the optional transition method which allows entities to continue to apply historical accounting guidance in the comparative periods presented in the year of adoption. At transition, lessees and lessors may elect to apply a package of practical expedients permitting entities not to reassess: (i) whether any expired or existing contracts are or contain leases; (ii) lease classification for any expired or existing leases and (iii) whether initial direct costs for any expired or existing leases qualify for capitalization under the amended guidance. These practical expedients must be elected as a package and consistently applied. We have elected to apply the package of practical expedients upon adoption. We identified our leases or other contracts impacted by the new standard and are currently in the process of (i) finalizing our implementation of a software solution to manage and account for leases under the new standard and (ii) updating our business processes and related policies, systems and controls to support recognition and disclosure under the new standard. Upon adoption of the amended guidance, we expect to recognize right-of-use assets and related liabilities of approximately $300 million to $350 million for our contracts which contain an operating lease. We currently do not expect the amended guidance to have any other material impacts on our consolidated financial statements. Reclassifications When necessary, reclassifications have been made to our prior period financial information to conform to the current year presentation and are not material to our consolidated financial statements.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2018
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	3. Summary of Significant Accounting Policies Principles of Consolidation The accompanying Consolidated Financial Statements include the accounts of WM, its wholly-owned and majority-owned subsidiaries and certain variable interest entities for which we have determined that we are the primary beneficiary. All material intercompany balances and transactions have been eliminated. Investments in unconsolidated entities are accounted for under the appropriate method of accounting. Estimates and Assumptions 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, long-lived asset impairments and reserves associated with our insured and self-insured claims. Each of these items is discussed in additional detail below. Actual results could differ materially from the estimates and assumptions that we use in the preparation of our financial statements. Cash and Cash Equivalents Cash in excess of current operating requirements is invested in short-term interest-bearing instruments with maturities of three months or less at the date of purchase and is stated at cost, which approximates market value. Concentrations of Credit Risk Financial instruments that potentially subject us to concentrations of credit risk consist primarily of cash and cash equivalents, investments held within our restricted trust and escrow accounts, and accounts receivable. We make efforts to control our exposure to credit risk associated with these instruments by (i) placing our assets and other financial interests with a diverse group of credit-worthy financial institutions; (ii) holding high-quality financial instruments while limiting investments in any one instrument and (iii) maintaining strict policies over credit extension that include credit evaluations, credit limits and monitoring procedures, although generally we do not have collateral requirements for credit extensions. We also control our exposure associated with trade receivables by discontinuing service, to the extent allowable, to non-paying customers. However, our overall credit risk associated with trade receivables is limited due to the large number and diversity of customers we serve. As of December 31, 2018 and 2017, no single customer represented greater than 5% of total accounts receivable. Accounts and Other Receivables Our receivables, which are recorded when billed, when services are performed or when cash is advanced, are claims against third parties that will generally be settled in cash. The carrying value of our receivables, net of the allowance for doubtful accounts, represents the estimated net realizable value. We estimate our allowance for doubtful accounts based on historical collection trends; type of customer, such as municipal or commercial; the age of outstanding receivables and existing economic conditions. If events or changes in circumstances indicate that specific receivable balances may be impaired, further consideration is given to the collectability of those balances and the allowance is adjusted accordingly. The activity within our allowance for doubtful accounts was not material for the reported periods. Past-due receivable balances are written off when our internal collection efforts have been unsuccessful. Also, we recognize interest income on long-term interest-bearing notes receivable as the interest accrues under the terms of the notes. We no longer accrue interest once the notes are deemed uncollectible. Other receivables, as of December 31, 2018 and 2017, include receivables related to income tax payments in excess of our current income tax obligations of $284 million and $504 million, respectively. Parts and Supplies Parts and supplies consist primarily of spare parts, fuel, tires, lubricants and processed recycling materials. Our parts and supplies are stated at the lower of cost, using the average cost method, or market. Landfill Accounting Cost Basis of Landfill Assets — We capitalize various costs that we incur to make a landfill ready to accept waste. These costs generally include expenditures for land (including the landfill footprint and required landfill buffer property); permitting; excavation; liner material and installation; landfill leachate collection systems; landfill gas collection systems; environmental monitoring equipment for groundwater and landfill gas; and directly related engineering, capitalized interest, on-site road construction and other capital infrastructure costs. The cost basis of our landfill assets also includes asset retirement costs, which represent estimates of future costs associated with landfill final capping, closure and post-closure activities. These costs are discussed below. Final Capping, Closure and Post-Closure Costs — Following is a description of our asset retirement activities and our related accounting: · Final Capping — Involves the installation of flexible membrane liners and geosynthetic clay liners, drainage and compacted soil layers and topsoil over areas of a landfill where total airspace capacity has been consumed. Final capping asset retirement obligations are recorded on a units-of-consumption basis as airspace is consumed related to the specific final capping event with a corresponding increase in the landfill asset. Each final capping event is accounted for as a discrete obligation and recorded as an asset and a liability based on estimates of the discounted cash flows and capacity associated with each final capping event. · Closure — Includes the construction of the final portion of methane gas collection systems (when required), demobilization and routine maintenance costs. These are costs incurred after the site ceases to accept waste, but before the landfill is certified as closed by the applicable state regulatory agency. These costs are recorded as an asset retirement obligation as airspace is consumed over the life of the landfill with a corresponding increase in the landfill asset. Closure obligations are recorded over the life of the landfill based on estimates of the discounted cash flows associated with performing closure activities. · Post-Closure — Involves the maintenance and monitoring of a landfill site that has been certified closed by the applicable regulatory agency. Generally, we are required to maintain and monitor landfill sites for a 30-year period. These maintenance and monitoring costs are recorded as an asset retirement obligation as airspace is consumed over the life of the landfill with a corresponding increase in the landfill asset. Post-closure obligations are recorded over the life of the landfill based on estimates of the discounted cash flows associated with performing post-closure activities. We develop our estimates of these obligations using input from our operations personnel, engineers and accountants. Our estimates are based on our interpretation of current requirements and proposed regulatory changes and are intended to approximate fair value. Absent quoted market prices, the estimate of fair value is based on the best available information, including the results of present value techniques. In many cases, we contract with third parties to fulfill our obligations for final capping, closure and post-closure. We use historical experience, professional engineering judgment and quoted or actual prices paid for similar work to determine the fair value of these obligations. We are required to recognize these obligations at market prices whether we plan to contract with third parties or perform the work ourselves. In those instances where we perform the work with internal resources, the incremental profit margin realized is recognized as a component of operating income when the work is completed. Once we have determined final capping, closure and post-closure costs, we inflate those costs to the expected time of payment and discount those expected future costs back to present value. During the years ended December 31, 2018, 2017 and 2016, we inflated these costs in current dollars to the expected time of payment using an inflation rate of 2.5%. We discounted these costs to present value using the credit-adjusted, risk-free rate effective at the time an obligation is incurred, consistent with the expected cash flow approach. Any changes in expectations that result in an upward revision to the estimated cash flows are treated as a new liability and discounted at the current rate while downward revisions are discounted at the historical weighted average rate of the recorded obligation. As a result, the credit-adjusted, risk-free discount rate used to calculate the present value of an obligation is specific to each individual asset retirement obligation. The weighted average rate applicable to our long-term asset retirement obligations as of December 31, 2018 was approximately 5.50%. We record the estimated fair value of final capping, closure and post-closure liabilities for our landfills based on the capacity consumed through the current period. The fair value of final capping obligations is developed based on our estimates of the airspace consumed to date for each final capping event and the expected timing of each final capping event. The fair value of closure and post-closure obligations is developed based on our estimates of the airspace consumed to date for the entire landfill and the expected timing of each closure and post-closure activity. Because these obligations are measured at estimated fair value using present value techniques, changes in the estimated cost or timing of future final capping, closure and post-closure activities could result in a material change in these liabilities, related assets and results of operations. We assess the appropriateness of the estimates used to develop our recorded balances annually, or more often if significant facts change. Changes in inflation rates or the estimated costs, timing or extent of future final capping, closure and post-closure activities typically result in both (i) a current adjustment to the recorded liability and landfill asset and (ii) a change in liability and asset amounts to be recorded prospectively over either the remaining capacity of the related discrete final capping event or the remaining permitted and expansion airspace (as defined below) of the landfill. Any changes related to the capitalized and future cost of the landfill assets are then recognized in accordance with our amortization policy, which would generally result in amortization expense being recognized prospectively over the remaining capacity of the final capping event or the remaining permitted and expansion airspace of the landfill, as appropriate. Changes in such estimates associated with airspace that has been fully utilized result in an adjustment to the recorded liability and landfill assets with an immediate corresponding adjustment to landfill airspace amortization expense. Interest accretion on final capping, closure and post-closure liabilities is recorded using the effective interest method and is recorded as final capping, closure and post-closure expense, which is included in operating expenses within our Consolidated Statements of Operations. Amortization of Landfill Assets — The amortizable basis of a landfill includes (i) amounts previously expended and capitalized; (ii) capitalized landfill final capping, closure and post-closure costs; (iii) projections of future purchase and development costs required to develop the landfill site to its remaining permitted and expansion capacity and (iv) projected asset retirement costs related to landfill final capping, closure and post-closure activities. Amortization is recorded on a units-of-consumption basis, applying expense as a rate per ton. The rate per ton is calculated by dividing each component of the amortizable basis of a landfill by the number of tons needed to fill the corresponding asset’s airspace. For landfills that we do not own, but operate through lease or other contractual agreements, the rate per ton is calculated based on expected capacity to be utilized over the lesser of the contractual term of the underlying agreement or the life of the landfill. We apply the following guidelines in determining a landfill’s remaining permitted and expansion airspace: · Remaining Permitted Airspace — Our engineers, in consultation with third-party engineering consultants and surveyors, are responsible for determining remaining permitted airspace at our landfills. The remaining permitted airspace is determined by an annual survey, which is used to compare the existing landfill topography to the expected final landfill topography. · Expansion Airspace — We also include currently unpermitted expansion airspace in our estimate of remaining permitted and expansion airspace in certain circumstances. First, to include airspace associated with an expansion effort, we must generally expect the initial expansion permit application to be submitted within one year and the final expansion permit to be received within five years. Second, we must believe that obtaining the expansion permit is likely, considering the following criteria: · Personnel are actively working on the expansion of an existing landfill, including efforts to obtain land use and local, state or provincial approvals; · We have a legal right to use or obtain land to be included in the expansion plan; · There are no significant known technical, legal, community, business, or political restrictions or similar issues that could negatively affect the success of such expansion; and · Financial analysis has been completed based on conceptual design, and the results demonstrate that the expansion meets Company criteria for investment. For unpermitted airspace to be initially included in our estimate of remaining permitted and expansion airspace, the expansion effort must meet all the criteria listed above. These criteria are evaluated by our field-based engineers, accountants, managers and others to identify potential obstacles to obtaining the permits. Once the unpermitted airspace is included, our policy provides that airspace may continue to be included in remaining permitted and expansion airspace even if certain of these criteria are no longer met as long as we continue to believe we will ultimately obtain the permit, based on the facts and circumstances of a specific landfill. In these circumstances, continued inclusion must be approved through a landfill-specific review process that includes approval by our Chief Financial Officer and a review by the Audit Committee of our Board of Directors on a quarterly basis. Of the 15 landfill sites with expansions included as of December 31, 2018, two landfills required the Chief Financial Officer to approve the inclusion of the unpermitted airspace because the permit application process did not meet the one- or five-year requirements. When we include the expansion airspace in our calculations of remaining permitted and expansion airspace, we also include the projected costs for development, as well as the projected asset retirement costs related to final capping, closure and post-closure of the expansion in the amortization basis of the landfill. Once the remaining permitted and expansion airspace is determined in cubic yards, an airspace utilization factor (“AUF”) is established to calculate the remaining permitted and expansion capacity in tons. The AUF is established using the measured density obtained from previous annual surveys and is then adjusted to account for future settlement. The amount of settlement that is forecasted will take into account several site-specific factors including current and projected mix of waste type, initial and projected waste density, estimated number of years of life remaining, depth of underlying waste, anticipated access to moisture through precipitation or recirculation of landfill leachate and operating practices. In addition, the initial selection of the AUF is subject to a subsequent multi-level review by our engineering group and the AUF used is reviewed on a periodic basis and revised as necessary. Our historical experience generally indicates that the impact of settlement at a landfill is greater later in the life of the landfill when the waste placed at the landfill approaches its highest point under the permit requirements. After determining the costs and remaining permitted and expansion capacity at each of our landfills, we determine the per ton rates that will be expensed as waste is received and deposited at the landfill by dividing the costs by the corresponding number of tons. We calculate per ton amortization rates for each landfill for assets associated with each final capping event, for assets related to closure and post-closure activities and for all other costs capitalized or to be capitalized in the future. These rates per ton are updated annually, or more often, as significant facts change. It is possible that actual results, including the amount of costs incurred, the timing of final capping, closure and post-closure activities, our airspace utilization or the success of our expansion efforts could ultimately turn out to be significantly different from our estimates and assumptions. To the extent that such estimates, or related assumptions, prove to be significantly different than actual results, lower profitability may be experienced due to higher amortization rates or higher expenses; or higher profitability may result if the opposite occurs. Most significantly, if it is determined that expansion capacity should no longer be considered in calculating the recoverability of a landfill asset, we may be required to recognize an asset impairment or incur significantly higher amortization expense. If at any time management makes the decision to abandon the expansion effort, the capitalized costs related to the expansion effort are expensed immediately. Environmental Remediation Liabilities A significant portion of our operating costs and capital expenditures could be characterized as costs of environmental protection. The nature of our operations, particularly with respect to the construction, operation and maintenance of our landfills, subjects us to an array of laws and regulations relating to the protection of the environment. Under current laws and regulations, we may have liabilities for environmental damage caused by our operations, or for damage caused by conditions that existed before we acquired a site. In addition to remediation activity required by state or local authorities, such liabilities include potentially responsible party (“PRP”) investigations. The costs associated with these liabilities can include settlements, certain legal and consultant fees, as well as incremental internal and external costs directly associated with site investigation and clean up. Where it is probable that a liability has been incurred, we estimate costs required to remediate sites based on site-specific facts and circumstances. We routinely review and evaluate sites that require remediation, considering whether we were an owner, operator, transporter, or generator at the site, the amount and type of waste hauled to the site and the number of years we were associated with the site. Next, we review the same type of information with respect to other named and unnamed PRPs. Estimates of the costs for the likely remedy are then either developed using our internal resources or by third-party environmental engineers or other service providers. Internally developed estimates are based on: · Management’s judgment and experience in remediating our own and unrelated parties’ sites; · Information available from regulatory agencies as to costs of remediation; · The number, financial resources and relative degree of responsibility of other PRPs who may be liable for remediation of a specific site; and · The typical allocation of costs among PRPs, unless the actual allocation has been determined. 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 environmental impact investigation. In these cases, we use the amount within the range that is 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 $140 million higher than the $237 million recorded in the Consolidated Balance Sheet as of December 31, 2018. 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 our balance sheet and income from operations. These adjustments could be material in any given period. Where we believe that both the amount of a particular environmental remediation liability and the timing of the payments are fixed or reliably determinable, we inflate the cost in current dollars (by 2.5% as of December 31, 2018 and 2017) until the expected time of payment and discount the cost to present value using a risk-free discount rate, which is based on the rate for U.S. Treasury bonds with a term approximating the weighted average period until settlement of the underlying obligation. We determine the risk-free discount rate and the inflation rate on an annual basis unless interim changes would materially impact our results of operations. For remedial liabilities that have been discounted, we include interest accretion, based on the effective interest method, in operating expenses in our Consolidated Statements of Operations. The following table summarizes the impacts of revisions in the risk-free discount rate applied to our environmental remediation liabilities and recovery assets for the years ended December 31 (in millions) and the risk-free discount rate applied as of December 31: 2018 2017 2016 Decrease in operating expenses $ (2) $ — $ (2) Risk-free discount rate applied to environmental remediation liabilities and recovery assets 2.75 % 2.5 % 2.5 % The portion of our recorded environmental remediation liabilities that were not subject to inflation or discounting, as the amounts and timing of payments are not fixed or reliably determinable, was $35 million and $47 million as of December 31, 2018 and 2017, respectively. Had we not inflated and discounted any portion of our environmental remediation liability, the amount recorded would have increased $3 million as of December 31, 2018 and remained the same as of December 31, 2017. Property and Equipment (Exclusive of Landfills, Discussed Above) We record property and equipment at cost. Expenditures for major additions and improvements are capitalized and maintenance activities are expensed as incurred. We depreciate property and equipment over the estimated useful life of the asset using the straight-line method. We assume no salvage value for our depreciable property and equipment. When property and equipment are retired, sold or otherwise disposed of, the cost and accumulated depreciation are removed from our accounts and any resulting gain or loss is included in results of operations as an offset or increase to operating expense for the period. The estimated useful lives for significant property and equipment categories are as follows (in years): Useful Lives Vehicles — excluding rail haul cars 3 to 10 Vehicles — rail haul cars 10 to 30 Machinery and equipment — including containers 3 to 30 Buildings and improvements 5 to 40 Furniture, fixtures and office equipment 3 to 10 We include capitalized costs associated with developing or obtaining internal-use software within furniture, fixtures and office equipment. These costs include direct external costs of materials and services used in developing or obtaining the software and internal costs for employees directly associated with the software development project. Leases We lease property and equipment in the ordinary course of our business. Our most significant lease obligations are for property and equipment specific to our industry, including real property operated as a landfill or transfer station. Our leases have varying terms. Some may include renewal or purchase options, escalation clauses, restrictions, penalties or other obligations that we consider in determining minimum lease payments. The leases are classified as either operating leases or capital leases, as appropriate. See Note 2 for information related to the pending adoption of ASU 2016-02. Operating Leases (Excluding Landfill Leases Discussed Below) — The majority of our leases are operating leases. This classification generally can be attributed to either (i) relatively low fixed minimum lease payments as a result of real property lease obligations that vary based on the volume of waste we receive or process or (ii) minimum lease terms that are much shorter than the assets’ economic useful lives. Management expects that in the normal course of business our operating leases will be renewed, replaced by other leases, or replaced with fixed asset expenditures. Our rent expense during each of the last three years and our future minimum operating lease payments for each of the next five years for which we are contractually obligated as of December 31, 2018 are disclosed in Note 10. Capital Leases (Excluding Landfill Leases Discussed Below) — Assets under capital leases are capitalized using interest rates determined at the inception of each lease and are amortized over either the useful life of the asset or the lease term, as appropriate, on a straight-line basis. The present value of the related lease payments is recorded as a debt obligation. Our future minimum annual capital lease payments are included in our future debt obligations as disclosed in Note 7. Landfill Leases — From an operating perspective, landfills that we lease are similar to landfills we own because generally we will operate the landfill for the life of the operating permit. The most significant portion of our rental obligations for landfill leases is contingent upon operating factors such as disposal volumes and often there are no contractual minimum rental obligations. Contingent rental obligations are expensed as incurred. For landfill capital leases that provide for minimum contractual rental obligations, we record the present value of the minimum obligation as part of the landfill asset, which is amortized on a units-of-consumption basis over the shorter of the lease term or the life of the landfill. Acquisitions We generally recognize assets acquired and liabilities assumed in business combinations, including contingent assets and liabilities, based on fair value estimates as of the date of acquisition. Contingent Consideration — In certain acquisitions, we agree to pay additional amounts to sellers contingent upon achievement by the acquired businesses of certain negotiated goals, such as targeted revenue levels, targeted disposal volumes or the issuance of permits for expanded landfill airspace. We have recognized liabilities for these contingent obligations based on their estimated fair value as of the date of acquisition with any differences between the acquisition-date fair value and the ultimate settlement of the obligations being recognized as an adjustment to income from operations. Acquired Assets and Assumed Liabilities — Assets and liabilities arising from contingencies such as pre-acquisition environmental matters and litigation are recognized at their acquisition-date fair value when their respective fair values can be determined. If the fair values of such contingencies cannot be determined, they are recognized as of the acquisition date if the contingencies are probable and an amount can be reasonably estimated. Acquisition-date fair value estimates are revised as necessary if, and when, additional information regarding these contingencies becomes available to further define and quantify assets acquired and liabilities assumed. Subsequent to finalization of purchase accounting, these revisions are accounted for as adjustments to income from operations. All acquisition-related transaction costs are expensed as incurred. Goodwill and Other Intangible Assets Goodwill is the excess of our purchase cost over the fair value of the net assets of acquired businesses. We do not amortize goodwill, but as discussed in the Long-Lived Asset Impairments section below, we assess our goodwill for impairment at least annually. Other intangible assets consist primarily of customer and supplier relationships, covenants not-to-compete, licenses, permits (other than landfill permits, as all landfill-related intangible assets are combined with landfill tangible assets and amortized using our landfill amortization policy), and other contracts. Other intangible assets are recorded at fair value on the acquisition date and are generally amortized using either a 150% declining balance approach or a straight-line basis as we determine appropriate. Customer and supplier relationships are typically amortized over a term of ten years. Covenants not-to-compete are amortized over the term of the non-compete covenant, which is generally two to five years. Licenses, permits and other contracts are amortized over the definitive terms of the related agreements. If the underlying agreement does not contain definitive terms and the useful life is determined to be indefinite, the asset is not amortized. Long-Lived Asset Impairments We assess our long-lived assets for impairment as required under the applicable accounting standards. If necessary, impairments are recorded in (gain) loss from divestitures, asset impairments and unusual items, net in our Consolidated Statement of Operations. Property and Equipment, Including Landfills and Definite-Lived Intangible Assets — We monitor the carrying value of our long-lived assets for potential impairment on an ongoing basis and test the recoverability of such assets generally using significant unobservable (“Level 3”) inputs whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. These events or changes in circumstances, including management decisions pertaining to such assets, are referred to as impairment indicators. If an impairment indicator occurs, we perform a test of recoverability by comparing the carrying value of the asset or asset group to its undiscounted expected future cash flows. If cash flows cannot be separately and independently identified for a single asset, we will determine whether an impairment has occurred for the group of assets for which we can identify the projected cash flows. If the carrying values are in excess of undiscounted expected future cash flows, we measure any impairment by comparing the fair value of the asset or asset group to its carrying value and the difference is recorded in the period that the impairment indicator occurs. Fair value is generally determined by considering (i) internally developed discounted projected cash flow analysis of the asset or asset group; (ii) actual third-party valuations and/or (iii) information available regarding the current market for similar assets. Estimating future cash flows requires significant judgment

Landfill and Environmental Reme

Landfill and Environmental Remediation Liabilities	12 Months Ended
	Dec. 31, 2018
Landfill and Environmental Remediation Liabilities
Landfill and Environmental Remediation Liabilities	4. Landfill and Environmental Remediation Liabilities Liabilities for landfill and environmental remediation costs as of December 31 are presented in the table below (in millions): 2018 2017 Environmental Environmental Landfill Remediation Total Landfill Remediation Total Current (in accrued liabilities) $ 143 $ 26 $ 169 $ 128 $ 28 $ 156 Long-term 1,617 211 1,828 1,547 223 1,770 $ 1,760 $ 237 $ 1,997 $ 1,675 $ 251 $ 1,926 The changes to landfill and environmental remediation liabilities for the year ended December 31, 2018 are reflected in the table below (in millions): Environmental Landfill Remediation December 31, 2017 $ 1,675 $ 251 Obligations incurred and capitalized 83 — Obligations settled (108) (26) Interest accretion 95 5 Revisions in estimates and interest rate assumptions (a) (b) (3) 9 Acquisitions, divestitures and other adjustments (c) 18 (2) December 31, 2018 $ 1,760 $ 237 (a) The amount reported for our landfill liabilities includes a net decrease of $15 million primarily related to our year-end annual review of landfill final capping, closure and post-closure obligations partially offset by an increase of $12 million due to the acceleration of the expected timing of capping activities for a landfill. See Note 11 for discussion of the impairment charge related to this landfill. (b) The amount reported for our environmental remediation liabilities includes changes in cost estimates associated with environmental remediation projects resulting in an increase in the required obligation. These charges were partially offset by a decrease of $3 million in our environmental remediation liabilities due to an increase in the risk-free discount rate used to measure our liabilities from 2.5% at December 31, 2017 to 2.75% at December 31, 2018. (c) The amount reported Our recorded liabilities as of December 31, 2018 include the impacts of inflating certain of these costs based on our expectations of the timing of cash settlement and of discounting certain of these costs to present value. Anticipated payments of currently identified environmental remediation liabilities, as measured in current dollars, are $26 million in 2019, $19 million in 2020, $65 million in 2021, $37 million in 2022, $13 million in 2023 and $81 million thereafter. 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 Notes 16 and 18 for additional information related to these trusts.

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Property and Equipment	5. Property and Equipment Property and equipment as of December 31 consisted of the following (in millions): 2018 2017 Land $ 656 $ 624 Landfills 15,240 14,904 Vehicles 5,059 4,750 Machinery and equipment 2,988 2,824 Containers 2,588 2,571 Buildings and improvements 2,998 2,846 Furniture, fixtures and office equipment 677 744 30,206 29,263 Less: Accumulated depreciation of tangible property and equipment (9,107) (8,916) Less: Accumulated amortization of landfill airspace (9,157) (8,788) Property and equipment, net $ 11,942 $ 11,559 Depreciation and amortization expense, including amortization expense for assets recorded as capital leases, consisted of the following for the years ended December 31 (in millions): 2018 2017 2016 Depreciation of tangible property and equipment $ 838 $ 783 $ 773 Amortization of landfill airspace 538 497 428 Depreciation and amortization expense $ 1,376 $ 1,280 $ 1,201

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
	Dec. 31, 2018
Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets	6. Goodwill and Other Intangible Assets Goodwill was $6,430 million and $6,247 million as of December 31, 2018 and 2017, respectively. The $183 million increase in goodwill during 2018 is primarily related to acquisitions partially offset by translation adjustments related to our Canadian operations, divestitures and an impairment charge, which is discussed below. As discussed more fully in Note 3, we perform our annual impairment test of goodwill balances for our reporting units using a measurement date of October 1. We will also perform interim tests if an impairment indicator exists. During the fourth quarter of 2018, we recorded a goodwill impairment charge of $6 million related to our LampTracker ® reporting unit, as a result of our annual impairment test, as the carrying value including goodwill exceeded the estimated fair value. Fair value was estimated using an income approach based on long-term projected discounted future cash flows of the reporting unit. See Notes 11, 17 and 19 for additional information related to goodwill. Our other intangible assets consisted of the following as of December 31 (in millions): Customer Covenants Licenses, and Supplier Not-to- Permits Relationships Compete and Other Total 2018 Intangible assets $ 949 $ 60 $ 109 $ 1,118 Less: Accumulated amortization (461) (24) (61) (546) $ 488 $ 36 $ 48 $ 572 2017 Intangible assets $ 880 $ 48 $ 124 $ 1,052 Less: Accumulated amortization (422) (21) (62) (505) $ 458 $ 27 $ 62 $ 547 Amortization expense for other intangible assets was $101 million, $96 million and $100 million for 2018, 2017 and 2016, respectively. As of December 31, 2018, we had $18 million of licenses, permits and other intangible assets that are not subject to amortization because they do not have stated expirations or have routine, administrative renewal processes. Additional information related to other intangible assets acquired through business combinations is included in Note 17. As of December 31, 2018, we expect annual amortization expense related to other intangible assets to be $105 million in 2019, $94 million in 2020, $79 million in 2021, $63 million in 2022 and $55 million in 2023.

Debt

Debt	12 Months Ended
	Dec. 31, 2018
Debt
Debt	7. Debt The following table summarizes the major components of debt as of each balance sheet date (in millions) and provides the maturities and interest rate ranges of each major category as of December 31: 2018 2017 Revolving credit facility (weighted average interest rate of 3.1% as of December 31, 2018) $ 11 $ — Commercial paper program (weighted average interest rate of 2.9% as of December 31, 2018 and 1.9% as of December 31, 2017) 990 515 Canadian term loan and revolving credit facility (weighted average effective interest rate of 2.5% as of December 31, 2017) — 113 Senior notes, maturing through 2045, interest rates ranging from 2.4% to 7.75% (weighted average interest rate of 4.3% as of December 31, 2018 and December 31, 2017) 6,222 6,222 Tax-exempt bonds, maturing through 2048, fixed and variable interest rates ranging from 1.35% to 4.3% (weighted average interest rate of 2.35% as of December 31, 2018 and 2.0% as of December 31, 2017) 2,388 2,370 Capital leases and other, maturing through 2040, interest rates up to 12% 467 327 Debt issuance costs, discounts and other (52) (56) 10,026 9,491 Current portion of long-term debt 432 739 $ 9,594 $ 8,752 Debt Classification As of December 31, 2018, we had $1.9 billion of debt maturing within the next 12 months, including (i) $990 million of short-term borrowings under our commercial paper program; (ii) $705 million of tax-exempt bonds with term interest rate periods that expire within the next 12 months, which is prior to their scheduled maturities; (iii) $161 million of other debt with scheduled maturities within the next 12 months, including $106 million of tax-exempt bonds and (iv) C$15 million, or $11 million, of Canadian borrowings under our long-term U.S. and Canadian revolving credit facility (“ $2.75 billion revolving credit facility”) . Of the $990 million of short-term borrowings outstanding under our commercial paper program as of December 31, 2018 that are supported by our $2.75 billion revolving credit facility, we have the intent and ability to refinance or maintain approximately $730 million of these borrowings on a long-term basis, and we have classified these amounts as long-term debt. As of December 31, 2018, we have classified an additional $705 million of debt maturing in the next 12 months as long-term because we have the intent and ability to refinance these borrowings on a long-term basis as supported by the forecasted available capacity under our $2.75 billion revolving credit facility, as discussed below. The remaining $432 million of debt maturing in the next 12 months is classified as current obligations. As of December 31, 2018, we also have $268 million of variable-rate tax-exempt bonds that are supported by letters of credit under our $2.75 billion revolving credit facility. The interest rates on our variable-rate tax-exempt bonds are generally reset on either a daily or weekly basis through a remarketing process. All recent tax-exempt bond remarketings have successfully placed Company bonds with investors at 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 availability under our $2.75 billion revolving credit facility to fund these bonds until they are remarketed successfully. Accordingly, we have also classified these borrowings as long-term in our Consolidated Balance Sheet as of December 31, 2018 . Access to and Utilization of Credit Facilities and Commercial Paper Program $2.75 Billion Revolving Credit Facility — In June 2018, we entered into the $2.75 billion revolving credit facility, which amended and restated our prior long-term U.S. revolving credit facility. Amendments to the credit agreement included (i) increasing total capacity under the facility from $2.25 billion to $2.75 billion; (ii) establishment of a $750 million accordion feature that may be used to increase total capacity in future periods; (iii) extending the term through June 2023 and (iv) inclusion of two one-year extension options. Waste Management of Canada Corporation and WM Quebec Inc., each an indirect wholly-owned subsidiary of WM, were added as additional borrowers under the $2.75 billion revolving credit facility, and the agreement permits borrowing in Canadian dollars up to the U.S. dollar equivalent of $375 million, with such borrowings to be repaid in Canadian dollars. WM Holdings, a wholly-owned subsidiary of WM, guarantees all the obligations under the $2.75 billion revolving credit facility. The $2.75 billion revolving credit facility provides us with credit capacity to be used for either cash borrowings or to support letters of credit or commercial paper. The rates we pay for outstanding U.S. or Canadian loans are generally based on LIBOR or CDOR, respectively, plus a spread depending on the Company’s debt rating assigned by Moody’s Investors Service and Standard and Poor’s. The spread above LIBOR or CDOR ranges from 0.69% to 1.05%. Our $2.75 billion revolving credit facility was drafted in anticipation of the phaseout of LIBOR and contains provisions to replace LIBOR with an appropriate alternate benchmark rate as needed. As of December 31, 2018, we had C$15 million, or $11 million, of Canadian borrowings outstanding under this facility. We had $587 million of letters of credit issued and $990 million of outstanding borrowings under our commercial paper program, both supported by this facility, leaving unused and available credit capacity of $1.2 billion as of December 31, 2018. Commercial Paper Program — We have a commercial paper program that enables us to borrow funds for up to 397 days at competitive interest rates. The rates we pay for outstanding borrowings are based on the term of the notes. The commercial paper program is fully supported by our $2.75 billion revolving credit facility. In June 2018, we amended our commercial paper program, increasing our ability to borrow funds from $1.5 billion to $2.75 billion, provided that the aggregate outstanding amount of commercial paper borrowings, together with borrowings and issued letters of credit under the $2.75 billion revolving credit facility, shall not at any time exceed the aggregate authorized borrowing capacity of such facility. As of December 31, 2018, we had $990 million of outstanding borrowings under our commercial paper program. Canadian Term Loan and Revolving Credit Facility — In August 2018, we terminated our Canadian credit agreement, as discussed further below. Prior to its termination, the Canadian credit agreement provided the Company with (i) C$50 million of revolving credit capacity to be used for borrowings or letters of credit and (ii) C$460 million of non-revolving term credit that was prepayable without penalty. Other Letter of Credit Facilities — As of December 31, 2018, we had utilized $556 million of other letter of credit facilities, which are both committed and uncommitted, with terms maturing through December 2020. Debt Borrowings and Repayments Revolving Credit Facility — During the first half of 2018, we borrowed and repaid $28 million under our revolving credit facility, which we amended in June 2018, as discussed above. During the second half of 2018, we had net cash Canadian borrowings of C$15 million, or $11 million, under our $2.75 billion revolving credit facility, a portion of which was used to repay net advances under our Canadian term loan, as discussed below. Commercial Paper Program — During the year ended December 31, 2018, we had net cash borrowings of $453 million (net of the related discount on issuance) for general corporate purposes. Canadian Term Loan — Through August 2018, we repaid the remaining balance of C$142 million, or $109 million, under our Canadian term loan and revolving credit facility and subsequently terminated our Canadian credit agreement. The remaining change in the carrying value of outstanding borrowings under our Canadian term loan and revolving credit facility is due to foreign currency translation. Tax-Exempt Bonds — We issued $80 million of new tax-exempt bonds in 2018. The proceeds from the issuance of these bonds were deposited directly into a restricted trust fund and may only be used for the specific purpose for which the money was raised, which is generally to finance expenditures for landfill and solid waste disposal facility construction and development. Additionally, during the year ended December 31, 2018, we repaid $62 million of our tax-exempt bonds with available cash at their scheduled maturities. In the fourth quarter of 2018, we elected to refund and reissue $105 million of tax-exempt bonds to extend the maturities. Capital Leases and Other — The increase in our capital leases and other debt obligations in 2018 is related to our recent federal low-income housing investment discussed in Note 8 and new capital leases, which increased our debt obligations by $250 million, offset by $60 million of net cash repayments and $50 million in divestitures. Scheduled Debt Payments Principal payments of our debt and capital leases for the next five years and thereafter, based on scheduled maturities are as follows: $1,16 6 million in 2019, $7 80 million in 2020, $58 4 million in 2021, $62 2 million in 2022, $614 million in 2023 and $6,382 million thereafter. Our recorded debt and capital lease obligations include non-cash adjustments associated with debt issuance costs, discounts, premiums and fair value adjustments attributable to terminated interest rate derivatives, which have been excluded from these amounts because they will not result in cash payments. Cross-Currency Swaps In March 2016, our Canadian subsidiaries repaid C$370 million of intercompany debt to WM Holdings with proceeds from our Canadian term loan. Concurrent with the repayment of the intercompany debt, we terminated the related cross-currency swaps and received $67 million in cash. The cash received from our termination of these swaps was classified as a change in other current assets and other assets within net cash provided by operating activities in the Consolidated Statement of Cash Flows. In addition, we recognized $8 million of expense associated with the termination of these swaps in 2016, which was included in other, net in the Consolidated Statement of Operations. Secured Debt Our debt balances are generally unsecured, except for capital leases and the notes payable associated with our investments in low-income housing properties. Debt Covenants The terms of certain of our financing arrangements require that we comply with financial and other covenants. Our most restrictive financial covenant is the one contained in our $2.75 billion revolving credit facility, which sets forth a maximum total debt to consolidated earnings before interest, taxes, depreciation and amortization ratio (the “Leverage Ratio”). This covenant requires that the Leverage Ratio for the preceding four fiscal quarters will not be more than 3.5 to 1, provided that if an acquisition permitted under the $2.75 billion revolving credit facility involving aggregate consideration in excess of $200 million occurs during the fiscal quarter, the Company shall have the right to increase the Leverage Ratio to 4.0 to 1 during such fiscal quarter and for the following three fiscal quarters (the “Elevated Leverage Ratio Period”). There shall be no more than two Elevated Leverage Ratio Periods during the term of the $2.75 billion revolving credit facility, and the Leverage Ratio must return to 3.5 to 1 for at least one fiscal quarter between Elevated Leverage Ratio Periods. The calculation of all components used in the Leverage Ratio covenant are as defined in the $2.75 billion revolving credit facility. Our $2.75 billion revolving credit facility, senior notes and other financing arrangements also contain certain restrictions on the ability of the Company’s subsidiaries to incur additional indebtedness as well as restrictions on the ability of the Company and its subsidiaries to, among other things, incur liens; engage in sale-leaseback transactions; make certain investments and engage in mergers and consolidations. We monitor our compliance with these restrictions, but do not believe that they significantly impact our ability to enter into investing or financing arrangements typical for our business. As of December 31, 2018 and 2017, we were in compliance with all covenants and restrictions under our financing arrangements that may have a material effect on our Consolidated Financial Statements.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2018
Income Taxes
Income Taxes	8. Income Taxes Income Tax Expense Our income tax expense consisted of the following for the years ended December 31 (in millions): 2018 2017 2016 Current: Federal $ 256 $ 400 $ 443 State 132 56 88 Foreign 40 37 38 428 493 569 Deferred: Federal 59 (316) 57 State (32) 62 17 Foreign (2) 3 (1) 25 (251) 73 Income tax expense $ 453 $ 242 $ 642 The U.S. federal statutory income tax rate is reconciled to the effective income tax rate for the years ended December 31 as follows: 2018 2017 2016 Income tax expense at U.S. federal statutory rate 21.00 % 35.00 % 35.00 % State and local income taxes, net of federal income tax benefit 4.41 3.25 3.31 Impacts of enactment of tax reform (0.51) (24.14) — Federal tax credits (2.44) (2.31) (3.08) Taxing authority audit settlements and other tax adjustments (3.85) 0.03 (0.53) Tax impact of equity-based compensation transactions (0.54) (1.45) — Tax impact of impairments 0.03 0.66 0.80 Tax rate differential on foreign income 0.43 (0.55) (0.63) Other 0.51 0.55 0.36 Effective income tax rate 19.04 % 11.04 % 35.23 % The comparability of our income tax expense for the reported periods has been primarily affected by (i) variations in our income before income taxes; (ii) impacts of enactment of tax reform; (iii) federal tax credits; (iv) tax audit settlements; (v) adjustments to our accruals and related deferred taxes; (vi) the realization of state net operating losses and credits; (vii) excess tax benefits associated with equity-based compensation transactions and (viii) the tax implications of impairments. For financial reporting purposes, income before income taxes by source for the years ended December 31 was as follows (in millions): 2018 2017 2016 Domestic $ 2,235 $ 2,040 $ 1,681 Foreign 141 151 141 Income before income taxes $ 2,376 $ 2,191 $ 1,822 Enactment of Tax Reform – The Act was signed into law on December 22, 2017. The most significant impacts of the Act to the Company include a decrease in the federal corporate income tax rate from 35% to 21% effective January 1, 2018 and a one-time, mandatory transition tax on deemed repatriation of previously tax-deferred and unremitted foreign earnings. In accordance with ASU 2018-05 and SAB 118, the Company recognized the provisional tax impacts of the Act to the Company in 2017. For the year ended December 31, 2017, we recognized a reduction in our income tax expense of $529 million consisting of a net tax benefit of $595 million for the remeasurement of our deferred income tax assets and liabilities due to the decrease in the federal corporate income tax rate, partially offset by income tax expense of $66 million for the one-time, mandatory transition tax. For the year ended December 31, 2018, we recognized m easurement period a djustments to the provisional tax impacts, as discussed above, primarily due to the filing of our income tax returns resulting in a reduction in our income tax expense of $12 million. The reduction consisted of a net income tax benefit of (i) $7 million for the remeasurement of our deferred income tax assets and liabilities and other reserves due to the decrease in the federal corporate income tax rate and (ii) a $5 million adjustment for the one-time, mandatory transition tax. The Company has completed the accounting for the impacts of the Act, although adjustments may be necessary in future periods due to potential technical corrections to the Act and/or regulatory guidance that may be issued by the Internal Revenue Service (“IRS”). The Act provides for a territorial tax system, and it includes two new U.S. tax base erosion provisions, the global intangible low-taxed income (“GILTI”) tax and the base erosion and anti-abuse tax (“BEAT”). For the year ended December 31, 2018, we did not have a material impact to our consolidated financial statements from GILTI and no minimum tax from BEAT. The Company does not expect that it will be subject to any material incremental U.S. tax on GILTI in future periods and has elected to account for any potential GILTI tax in the period in which it is incurred, therefore no deferred income tax impacts of GILTI are provided in our consolidated financial statements for the year ended December 31, 2018. In addition, the Company does not expect it will be subject to minimum tax pursuant to the BEAT. Investments Qualifying for Federal Tax Credits — We have significant financial interests in entities established to invest in and manage low-income housing properties and a refined coal facility. On September 28, 2018 we acquired an additional noncontrolling interest in a limited liability company established to invest in and manage low-income housing properties. Our consideration for this investment totaled $157 million, which was comprised of a $139 million note payable and an initial cash payment of $18 million. We support the operations of these entities in exchange for a pro-rata share of the tax credits they generate. The low-income housing investments and the coal facility’s refinement processes qualify for federal tax credits that we expect to realize through 2030 under Sections 42 and 45D, and through 2019 under Section 45, respectively, of the Internal Revenue Code. We account for our investments in these entities using the equity method of accounting, recognizing our share of each entity’s results of operations and other reductions in the value of our investments in equity in net losses of unconsolidated entities, within our Consolidated Statements of Operations. During the years ended December 31, 2018, 2017 and 2016, we recognized $ 30 million, $30 million and $3 1 million of net losses and a reduction in our income tax expense of $57 million, $51 million and $55 million, respectively, primarily due to tax credits realized from these investments. Interest expense associated with our investments in low-income housing properties was not material for the periods presented. See Note 18 for additional information related to these unconsolidated variable interest entities. Other Federal Tax Credits — During 2018, 2017 and 2016, we recognized federal tax credits in addition to the tax credits realized from our investments in low-income housing properties and the refined coal facility, resulting in a reduction in our income tax expense of $10 million, $13 million and $14 million, respectively. Tax Audit Settlements — We file income tax returns in the U.S. and Canada, as well as various state and local jurisdictions. We are currently under audit by the IRS, the Canada Revenue Agency and various state and local taxing authorities. Our audits are in various stages of completion. During the reported periods, we closed various tax audits and the settlements resulted in a reduction in our income tax expense of $40 million, $2 million and $11 million for the years ended December 31, 2018, 2017 and 2016, respectively. We participate in the IRS’s Compliance Assurance Process, which means we work with the IRS throughout the year towards resolving any material issues prior to the filing of our annual tax return. Any unresolved issues as of the tax return filing date are subject to routine examination procedures. We are currently in the examination phase of IRS audits for the 2017 and 2018 tax years and expect these audits to be completed within the next 15 months. We are also currently undergoing audits by various state and local jurisdictions for tax years that date back to 2011. Additionally, we are under audit by the Canada Revenue Agency for the 2014 tax year. Adjustments to Accruals and Related Deferred Taxes — Adjustments to our accruals and related deferred taxes due to the filing of our income tax returns and changes in state laws resulted in a reduction in our income tax expense of $35 million, $5 million and $10 million for the years ended December 31, 2018, 2017 and 2016, respectively. An adjustment to our deferred taxes to reduce our deferred tax liability based on an analysis of certain deferred tax balances also resulted in a net reduction of our income tax expense of $17 million for the year ended December 31, 2018 and is not material to our consolidated financial statements for the reported period. State Net Operating Losses and Credits — During 2018, 2017 and 2016, we recognized state net operating losses and credits resulting in a reduction in our income tax expense of $22 million, $12 million and $10 million, respectively. Equity-Based Compensation — During 2018 and 2017, we recognized excess tax benefits related to the vesting or exercise of equity-based compensation awards resulting in a reduction in our income tax expense of $17 million and $37 million, respectively. Tax Implications of Impairments — Portions of the impairment charges recognized during the reported periods are not deductible for tax purposes. Had the charges been fully deductible, our income tax expense would have been reduced by $1 million, $15 million and $15 million for the years ended December 31, 2018, 2017 and 2016, respectively. See Note 11 for more information related to our impairment charges. Unremitted Earnings in Foreign Subsidiaries — No additional income taxes have been provided for any remaining undistributed foreign earnings not subject to the one-time, mandatory transition tax, or any additional outside basis difference, as these amounts continue to be indefinitely reinvested in foreign operations. Deferred Tax Assets (Liabilities) The components of net deferred tax liabilities as of December 31 are as follows (in millions): 2018 2017 Deferred tax assets: Net operating loss, capital loss and tax credit carry-forwards $ 258 $ 259 Landfill and environmental remediation liabilities 143 121 Miscellaneous and other reserves, net 175 96 Subtotal 576 476 Valuation allowance (261) (264) Deferred tax liabilities: Property and equipment (752) (595) Goodwill and other intangibles (854) (865) Net deferred tax liabilities $ (1,291) $ (1,248) The valuation allowance decreased by $3 million in 2018 primarily due to non-benefited foreign tax credit carry-forwards. As of December 31, 2018, we had $1.9 billion of state net operating loss carry-forwards with expiration dates through 2038. We also had $443 million of federal capital loss carry-forwards with expiration dates through 2021, $35 million of foreign tax credit carry-forwards with expiration dates through 2028 and $20 million of state tax credit carry-forwards with expiration dates through 2034. We have established valuation allowances for uncertainties in realizing the benefit of certain tax loss and credit carry-forwards and other deferred tax assets. While we expect to realize the deferred tax assets, net of the valuation allowances, changes in estimates of future taxable income or in tax laws may alter this expectation. Liabilities for Uncertain Tax Positions A reconciliation of the beginning and ending amount of gross unrecognized tax benefits, including accrued interest, is as follows (in millions): 2018 2017 2016 Balance as of January 1 $ 109 $ 82 $ 71 Additions based on tax positions related to the current year 6 19 19 Additions based on tax positions of prior years 12 11 4 Accrued interest 2 4 2 Reductions for tax positions of prior years — — (7) Settlements (88) (1) — Lapse of statute of limitations (5) (6) (7) Balance as of December 31 $ 36 $ 109 $ 82 These liabilities are included as a component of other long-term liabilities in our Consolidated Balance Sheets because the Company does not anticipate that settlement of the liabilities will require payment of cash within the next 12 months. As of December 31, 2018, we have $3 1 million of net unrecognized tax benefits that, if recognized in future periods, would impact our effective income tax rate. We recognize interest expense related to unrecognized tax benefits in our income tax expense, which was not material for the reported periods. We did not have any accrued liabilities or expense for penalties related to unrecognized tax benefits for the reported periods.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2018
Employee Benefit Plans
Employee Benefit Plans	9. Employee Benefit Plans Defined Contribution Plans — Waste Management sponsors a 401(k) retirement savings plan that covers employees, except those working subject to collective bargaining agreements that do not provide for coverage under the plan. U.S. employees who are not subject to such collective bargaining agreements are generally eligible to participate in the plan following a 90-day waiting period after hire and may contribute as much as 50% of their eligible annual compensation and 80% of their annual incentive plan bonus, subject to annual contribution limitations established by the IRS. Under the retirement savings plan, for non-union employees, we match 100% of employee contributions on the first 3% of their eligible annual compensation and 50% of employee contributions on the next 3% of their eligible annual compensation, resulting in a maximum match of 4.5% of eligible annual compensation. Non-union employees hired on or after January 1, 2018 are automatically enrolled in the plan at a 3% contribution rate upon eligibility. Both employee and Company contributions are in cash and vest immediately. Certain U.S. employees who are subject to collective bargaining agreements may participate in the 401(k) retirement savings plan under terms specified in their collective bargaining agreement. Certain employees outside the U.S., including those in Canada, participate in defined contribution plans maintained by the Company in compliance with laws of the appropriate jurisdiction. Charges to operating and selling, general and administrative expenses for our defined contribution plans totaled $80 million, $70 million and $64 million for the years ended December 31, 2018, 2017 and 2016, respectively. Defined Benefit Plans (other than multiemployer defined benefit pension plans discussed below) — WM Holdings sponsors a defined benefit plan for certain employees who are subject to collective bargaining agreements that provide for participation in this plan. Further, certain of our Canadian subsidiaries sponsor defined benefit plans that are frozen to new participants. As of December 31, 2018, the combined benefit obligation of these pension plans was $120 million, and the plans had $117 million of combined plan assets, resulting in an aggregate unfunded benefit obligation for these plans of $3 million. As of December 31, 2017, the combined benefit obligation of these pension plans was $126 million, and the plans had $120 million of combined plan assets, resulting in an aggregate unfunded benefit obligation for these plans of $6 million. In addition, WM Holdings and certain of its subsidiaries provided post-retirement health care and other benefits to eligible retirees. In conjunction with our acquisition of WM Holdings in July 1998, we limited participation in these plans to participating retirees as of December 31, 1998. The unfunded benefit obligation for these plans was $18 million and $23 million as of December 31, 2018 and 2017, respectively. Our accrued benefit liabilities for our defined benefit pension and other post-retirement plans were $21 million and $29 million as of December 31, 2018 and 2017, respectively, and are included as components of accrued liabilities and long-term other liabilities in our Consolidated Balance Sheets. Multiemployer Defined Benefit Pension Plans — We are a participating employer in a number of trustee-managed multiemployer defined benefit pension plans (“Multiemployer Pension Plans”) for employees who are covered by collective bargaining agreements. The risks of participating in these Multiemployer Pension Plans are different from single-employer plans in that (i) assets contributed to the Multiemployer Pension Plan by one employer may be used to provide benefits to employees or former employees of other participating employers; (ii) if a participating employer stops contributing to the plan, the unfunded obligations of the plan may be required to be assumed by the remaining participating employers and (iii) if we choose to stop participating in any of our Multiemployer Pension Plans, we may be required to pay those plans a withdrawal amount based on the underfunded status of the plan. The following table outlines our participation in Multiemployer Pension Plans considered to be individually significant (dollar amounts in millions): Expiration Date Pension Protection Act Company of Collective EIN/Pension Plan Reported Status(a) FIP/RP Contributions(d) Bargaining Pension Fund Number 2018 2017 Status(b)(c) 2018 2017 2016 Agreement(s) Automotive Industries Pension Plan EIN: 94-1133245; Critical and Declining Critical and Declining Implemented $ 1 $ 1 $ 1 9/30/2021 Suburban Teamsters of Northern Illinois Pension Plan EIN: 36-6155778; Endangered Endangered Implemented 3 3 3 Various dates through 3/31/2023 Western Conference of Teamsters Pension Plan EIN: 91-6145047; Not Endangered or Critical Not Endangered or Critical Not 29 27 25 Various dates through 10/20/2023 Western Pennsylvania Teamsters and Employers Pension Plan EIN: 25-6029946; Critical and Declining Critical Implemented — 1 1 (f) $ 33 $ 32 $ 30 Contributions to other Multiemployer Pension Plans 14 15 17 Total contributions to Multiemployer Pension Plans (e) $ 47 $ 47 $ 47 (a) The most recent Pension Protection Act zone status available in 2018 and 2017 is for the plan’s year-end as of December 31, 2017 and 2016, respectively. The zone status is based on information that we received from the plan and is certified by the plan’s actuary. As defined in the Pension Protection Act of 2006, among other factors, plans reported as critical are generally less than 65% funded and plans reported as endangered are generally less than 80% funded. Under the Multiemployer Pension Reform Act of 2014, a plan is generally in critical and declining status if it (i) is certified to be in critical status pursuant to the Pension Protection Act of 2006 and (ii) is projected to be insolvent within the next 15 years or, in certain circumstances, 20 years. As of the date the financial statements were issued, Forms 5500 were not available for the plan years ended in 2018. (b) The “FIP/RP Status” column indicates plans for which a Funding Improvement Plan (“FIP”) or a Rehabilitation Plan (“RP”) has been implemented. (c) A Multiemployer Pension Plan that has been certified as endangered, seriously endangered or critical may begin to levy a statutory surcharge on contribution rates. Once authorized, the surcharge is at the rate of 5% for the first 12 months and 10% for any periods thereafter. Contributing employers, however, may eliminate the surcharge by entering into a collective bargaining agreement that meets the requirements of the applicable FIP or RP. (d) Of the Multiemployer Pension Plans considered to be individually significant, the Company was listed in the Form 5500 of the Suburban Teamsters of Northern Illinois Pension Plan as providing more than 5% of the total contributions for plan years ending December 31, 2017 and 2016. (e) (f) Our portion of the projected benefit obligation, plan assets and unfunded liability for the Multiemployer Pension Plans is not material to our financial position. However, the failure of participating employers to remain solvent could affect our portion of the plans’ unfunded liability. Specific benefit levels provided by union pension plans are not negotiated with or known by the employer contributors. In connection with our ongoing renegotiations of various collective bargaining agreements, we may discuss and negotiate for the complete or partial withdrawal from one or more of these pension plans. Further, business events, such as the discontinuation or nonrenewal of a customer contract, the decertification of a union, or relocation, reduction or discontinuance of certain operations, which result in the decline of Company contributions to a Multiemployer Pension Plan could trigger a partial or complete withdrawal. In the event of a withdrawal, we may incur expenses associated with our obligations for unfunded vested benefits at the time of the withdrawal. In 2018 and 2017, we recognized charges of $3 million and $12 million, respectively, to operating expenses for the withdrawal from certain underfunded Multiemployer Pension Plans. In 2016, we did not recognize any charges for the withdrawal from Multiemployer Pension Plans. Refer to Note 10 for additional information related to our obligations to Multiemployer Pension Plans for which we have withdrawn or partially withdrawn. Multiemployer Plan Benefits Other Than Pensions — During the years ended December 31, 2018, 2017 and 2016, the Company made contributions of $43 million, $42 million and $40 million, respectively, to multiemployer health and welfare plans that also provide other post-retirement employee benefits. Funding of benefit payments for plan participants are made at negotiated rates in the respective collective bargaining agreements as costs are incurred.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2018
Commitments and Contingencies.
Commitments and Contingencies	10. Commitments and Contingencies Financial Instruments — We have obtained letters of credit, surety bonds and insurance policies and have established trust funds and issued financial guarantees to support tax-exempt bonds, contracts, performance of landfill final capping, closure and post-closure requirements, environmental remediation and other obligations. Letters of credit generally are supported by our $2.75 billion revolving credit facility and other credit facilities established for that purpose. These facilities are discussed further in Note 7. Surety bonds and insurance policies are supported by (i) a diverse group of third-party surety and insurance companies; (ii) an entity in which we have a noncontrolling financial interest or (iii) a wholly-owned insurance captive, the sole business of which is to issue surety bonds and/or insurance policies on our behalf. Management does not expect that any claims against or draws on these instruments would have a material adverse effect on our financial condition, results of operations or cash flows. 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 carry insurance coverage for protection of our assets and operations from certain risks including general liability, automobile liability, workers’ compensation, real and personal property, directors’ and officers’ liability, pollution legal liability and other coverages we believe are customary to the industry. Our exposure to loss for insurance claims is generally limited to the per-incident deductible under the related insurance policy. Our exposure could increase if our insurers are unable to meet their commitments on a timely basis. We have retained a significant portion of the risks related to our general liability, automobile 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 portions, the exposure for unpaid claims and associated expenses, including incurred but not reported losses, is based on an actuarial valuation or internal estimates. The accruals for these liabilities could be revised if future occurrences or loss development significantly differ from such valuations and estimates. In December 2017, we elected to use a wholly-owned insurance captive to insure the deductibles for our general liability, automobile liability and workers’ compensation claims programs. As of December 31, 2018, both our commercial General Liability Insurance Policy and our workers’ compensation insurance program carried self-insurance exposures of up to $5 million per incident. As of December 31, 2018, our automobile liability insurance program included a per-incident deductible of up to $10 million. Our receivable balance associated with insurance claims was $130 million and $153 million as of December 31, 2018 and 2017, respectively. The changes to our insurance reserves for the years ended December 31 are summarized below (in millions): 2018(a) 2017 Balance as of January 1 $ 582 $ 588 Self-insurance expense 142 142 Cash paid and other (157) (148) Balance as of December 31 $ 567 $ 582 Current portion as of December 31 $ 137 $ 107 Long-term portion as of December 31 $ 430 $ 475 (a) Based on current estimates, we anticipate that most of our insurance reserves will be settled in cash over the next six years. 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. Operating Leases — Operating lease expense was $129 million, $134 million and $125 million during 2018, 2017 and 2016, respectively. Minimum contractual payments due for our operating lease obligations are $74 million in 2019, $69 million in 20 20 , $54 million in 202 1 , $40 million in 2022, $37 million in 202 3 and $370 million thereafter. Our minimum contractual payments for lease agreements during future periods is less than current year operating lease expense primarily due to the effect of short-term leases. See Note 2 for information related to the pending adoption of ASU 2016‑02. Other Commitments · Disposal — We have several agreements expiring at various dates through 2052 that require us to dispose of a minimum number of tons at third-party disposal facilities. Under these put-or-pay agreements, we are required to pay for the agreed upon minimum volumes regardless of the actual number of tons placed at the facilities. Following the 2014 divestiture of our Wheelabrator business, which provides waste-to-energy services and manages waste-to-energy facilities and independent power production plants, we entered into several agreements to dispose of a minimum number of tons of waste at certain Wheelabrator facilities. These agreements generally provide for fixed volume commitments with certain market price resets through 2021. We generally fulfill our minimum contractual obligations by disposing of volumes collected in the ordinary course of business at these disposal facilities. · Waste Paper — We are party to waste paper purchase agreements expiring at various dates through 2023 that require us to purchase a minimum number of tons of waste paper. The cost per ton we pay is based on market prices. · Royalties — We have various arrangements that require us to make royalty payments to third parties including prior land owners, lessors or host communities where our operations are located. Our obligations generally are based on per ton rates for waste actually received at our transfer stations or landfills. Royalty agreements that are non-cancelable and require fixed or minimum payments are included in our capital leases and other debt obligations in our Consolidated Balance Sheets as disclosed in Note 7. Our unconditional purchase obligations are generally established in the ordinary course of our business and are structured in a manner that provides us with access to important resources at competitive, market-driven rates. As of December 31, 2018, our estimated minimum obligations associated with unconditional purchase obligations, which are not recognized in our Consolidated Balance Sheets, were $138 million in 2019, $1 21 million in 2020, $1 10 million in 2021, $4 5 million in 2022, $41 million in 2023 and $399 million thereafter. We may also establish unconditional purchase obligations in conjunction with acquisitions or divestitures. Our actual future minimum obligations under these outstanding purchase agreements are generally quantity driven and, as a result, our associated financial obligations are not fixed as of December 31, 2018. For contracts that require us to purchase minimum quantities of goods or services, we have estimated our future minimum obligations based on the current market values of the underlying products or services. We currently expect the products and services provided by these agreements to continue to meet the needs of our ongoing operations. Therefore, we do not expect these established arrangements to materially impact our future financial position, results of operations or cash flows. Guarantees — We have entered into the following guarantee agreements associated with our operations: · As of December 31, 2018, WM Holdings has fully and unconditionally guaranteed all of WM’s senior indebtedness, including its senior notes, $2.75 billion revolving credit facility and certain letter of credit facilities, which mature through 2045. WM has fully and unconditionally guaranteed the senior indebtedness of WM Holdings, which matures in 2026. Performance under these guarantee agreements would be required if either party defaulted on their respective obligations. No additional liabilities have been recorded for these intercompany guarantees because all of the underlying obligations are reflected in our Consolidated Balance Sheets. See Note 21 for further discussion. · WM and WM Holdings have guaranteed subsidiary debt obligations, including tax-exempt bonds, capital leases and other indebtedness. If a subsidiary fails to meet its obligations associated with its debt agreements as they come due, WM or WM Holdings will be required to perform under the related guarantee agreement. No additional liabilities have been recorded for these intercompany guarantees because all of the underlying obligations are reflected in our Consolidated Balance Sheets. See Note 7 for information related to the balances and maturities of these debt obligations. · Before the divestiture of our Wheelabrator business in 2014, 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. When possible, Wheelabrator seeks to have the applicable third-party beneficiaries release WM from these guarantees, but until such efforts are successful, or the underlying financial commitments are restructured, WM has agreed to retain the guarantees and, in exchange, receive a credit support fee or other financial assurances guaranteed by a third-party financial institution to protect WM in the event of non-compliance by Wheelabrator. The most significant of these guarantees specifically define WM’s maximum financial obligation over the course of the relevant agreements. As of December 31, 2018, WM’s maximum future payments under these guarantees were $85 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 Consolidated Balance Sheets. We currently do not expect the financial impact of such operational and financial performance guarantees to materially exceed the recorded fair value. · Certain of our subsidiaries have guaranteed the market or contractually-determined value of certain homeowners’ properties that are adjacent to or near certain of our landfills. These guarantee agreements extend over the life of the respective landfill. Under these agreements, we would be responsible for the difference, if any, between the sale value and the guaranteed market or contractually-determined value of the homeowners’ properties. As of December 31, 2018, we have agreements guaranteeing certain market value losses for approximately 775 homeowners’ properties adjacent to or near 19 of our landfills. We do not believe that these contingent obligations will have a material adverse effect on the Company’s financial position, results of operations or cash flows. · We have indemnified the purchasers of businesses or divested assets for the occurrence of specified events under certain of our divestiture agreements. Other than certain identified items that are currently recorded as obligations, we do not believe that it is possible to determine the contingent obligations associated with these indemnities. 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. · WM and WM Holdings guarantee the service, lease, financial and general operating obligations of certain of their subsidiaries. If such a subsidiary fails to meet its contractual obligations as they come due, the guarantor has an unconditional obligation to perform on its behalf. No additional liability has been recorded for service, financial or general operating guarantees because the subsidiaries’ obligations are properly accounted for as costs of operations as services are provided or general operating obligations as incurred. No additional liability has been recorded for the lease guarantees because the subsidiaries’ obligations are properly accounted for as operating or capital leases, as appropriate. Environmental Matters — A significant portion of our operating costs and capital expenditures could be characterized as costs of environmental protection. The nature of our operations, particularly with respect to the construction, operation and maintenance of our landfills, subjects us to an array of laws and regulations relating to the protection of the environment. Under current laws and regulations, we may have liabilities for environmental damage caused by our operations, or for damage caused by conditions that existed before we acquired a site. In addition to remediation activity required by state or local authorities, such liabilities include PRP investigations. The costs associated with these liabilities can include settlements, certain legal and consultant fees, as well as incremental internal and external costs directly associated with site investigation and clean-up. As of December 31, 2018, we have been notified by the government that we are a PRP in connection with 75 locations listed on the Environmental Protection Agency’s (“EPA’s”) Superfund National Priorities List (“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. On October 11, 2017, the EPA issued its Record of Decision (“ROD”) with respect to the previously proposed remediation plan for the San Jacinto waste pits in Harris County, Texas. McGinnes Industrial Maintenance Corporation (“MIMC”), an indirect wholly-owned subsidiary of WM, operated some of the waste pits from 1965 to 1966 and has been named as a site PRP. In 1998, WM acquired the stock of the parent entity of MIMC. MIMC has been working with the EPA and other named PRPs as the process of addressing the site proceeds. On April 9, 2018, MIMC and International Paper Company entered into an Administrative Order on Consent agreement with the EPA to develop a remedial design for the EPA’s selected remedy for the site. Allocation of responsibility among the PRPs for the proposed remedy has not been established. As of December 31, 2018 and 2017, our recorded liability for MIMC’s estimated potential share of the EPA’s proposed remedy and related costs was $55 million. MIMC’s ultimate liability could be materially different from current estimates. 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 matters are disclosed in accordance with that requirement. We do not currently believe that the eventual outcome of any such matters, individually or in the aggregate, could have a material adverse effect on the Company’s business, financial condition, results of operations or cash flows. On July 10, 2013, the EPA issued a Notice of Violation ("NOV") to Waste Management of Wisconsin, Inc., an indirect wholly-owned subsidiary of WM, alleging violations of the Resource Conservation Recovery Act concerning acceptance of certain waste that was not permitted to be disposed of at the Metro Recycling & Disposal Facility in Franklin, Wisconsin. The parties are exchanging information and working to resolve the NOV. The Hawaii Department of Health and the EPA have asserted civil penalty claims against Waste Management of Hawaii, Inc. (“WMHI”), an indirect wholly-owned subsidiary of WM, based on stormwater discharges at the Waimanalo Gulch Sanitary Landfill following two major rainstorms in December 2010 and January 2011 and alleged violations of stormwater permit requirements prior to and after the storms. WMHI operates the landfill for the City and County of Honolulu. 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. Litigation — As a large company with operations across the U.S. 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 that have been filed against us, and that may be filed against us in the future, include personal injury, property damage, commercial, customer, and employment-related claims, including purported state and national class action lawsuits related to: alleged environmental contamination, including releases of hazardous material and odors; sales and marketing practices, customer service agreements and prices and fees; and 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 will 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 permitted 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 WM’s executive officers. 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 — About 20% of our workforce is covered by collective bargaining agreements with various local unions across the U.S. and Canada. As a result of some of these agreements, certain of our subsidiaries are participating employers in a number of Multiemployer Pension Plans for the covered employees. Refer to Note 9 for additional information about our participation in Multiemployer Pension Plans considered individually significant. In connection with our ongoing renegotiation of various collective bargaining agreements, we may discuss and negotiate for the complete or partial withdrawal from one or more of these Multiemployer Pension Plans. A complete or partial withdrawal from a Multiemployer Pension Plan may also occur if employees covered by a collective bargaining agreement vote to decertify a union from continuing to represent them. Any other circumstance resulting in a decline in Company contributions to a Multiemployer Pension Plan through a reduction in the labor force, whether through attrition over time or through a business event (such as the discontinuation or nonrenewal of a customer contract, the decertification of a union, or relocation, reduction or discontinuance of certain operations) may also trigger a complete or partial withdrawal from one or more of these pension plans. In 2018 and 2017, we recognized $3 million and $12 million, respectively, of charges to operating expenses for the withdrawal from certain underfunded Multiemployer Pension Plans. In 2016, we did not recognize any charges for the withdrawal from Multiemployer Pension Plans. We do not believe that any future liability relating to our past or current participation in, or withdrawals from, the Multiemployer Pension Plans to which we contribute will have a material adverse effect on our business, financial condition or liquidity. However, liability for future withdrawals could have a material adverse effect on our results of operations or cash flows for a particular reporting period, depending on the number of employees withdrawn and the financial condition of the Multiemployer Pension Plan(s) at the time of such withdrawal(s). Tax Matters — We maintain a liability for uncertain tax positions, the balance of which management believes is adequate. Results of audit assessments by taxing authorities are not currently expected to have a material adverse effect on our financial condition, results of operations or cash flows. See Note 8 for additional discussion regarding income taxes.

Asset Impairments and Unusual I

Asset Impairments and Unusual Items	12 Months Ended
	Dec. 31, 2018
Asset Impairments and Unusual Items
Asset Impairments and Unusual Items	11. Asset Impairments and Unusual Items (Gain) Loss from Divestitures, Asset Impairments and Unusual Items, Net The following table summarizes the major components of (gain) loss from divestitures, asset impairments and unusual items, net for the years ended December 31 (in millions): 2018 2017 2016 (Gain) loss from divestitures $ (96) $ (38) $ 9 Asset impairments 38 41 59 Other — (19) 44 $ (58) $ (16) $ 112 During the year ended December 31, 2018, we recognized net gains of $58 million, primarily related to (i) a $ 52 million gain associated with the sale of certain hauling operations in our Tier 1 segment and (ii) net gains of $44 million substantially all from divestitures of certain ancillary operations. These gains were partially offset by (i) a $30 million charge to impair a landfill in our Tier 3 segment based on an internally developed discounted projected cash flow analysis, taking into account continued volume decreases and revised capping cost estimates and (ii) $8 million of impairment charges primarily related to our LampTracker ® reporting unit. During the year ended December 31, 2017, we recognized net gains of $16 million, primarily related to During the year ended December 31, 2016, we recognized net charges of $112 million, primarily related to (i) $44 million of charges to adjust our subsidiary’s estimated potential share of an environmental remediation liability and related costs for a closed site in Harris County, Texas, as discussed in Note 10; (ii) a $43 million charge to impair a landfill in our Tier 3 segment due to a loss of expected volumes; (iii) $12 million of goodwill impairment charges primarily related to our LampTracker ® reporting unit and (iv) an $8 million loss on the sale of a majority-owned organics company. See Note 3 for additional information related to the accounting policy and analysis involved in identifying and calculating impairments and see Note 19 for additional information related to the impact of impairments on the results of operations of our reportable segments. Equity in Net Losses of Unconsolidated Entities During the year ended December 31, 2017, we recognized $29 million of impairment charges to write down equity method investments in waste diversion technology companies to their estimated fair values. Other, Net During the years ended December 31, 2017 and 2016, we recognized impairment charges of $11 million and $42 million, respectively, related to other-than-temporary declines in the value of minority-owned investments in waste diversion technology companies. We wrote down our investments to their estimated fair values which was primarily determined using an income approach based on estimated future cash flow projections and, to a lesser extent, third-party investors’ recent transactions in these securities.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	12 Months Ended
	Dec. 31, 2018
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss)	12. 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): Foreign Post- Available- Currency Retirement Derivative for-Sale Translation Benefit Instruments Securities Adjustments Obligations Total Balance, December 31, 2015 $ (52) $ 8 $ (75) $ (8) $ (127) Other comprehensive income (loss) before reclassifications, net of tax expense (benefit) of $(4), $3, $0 and $0, respectively (7) 5 26 — 24 Amounts reclassified from accumulated other comprehensive (income) loss, net of tax (expense) benefit of $12, $0, $0 and $1, respectively 19 — 2 2 23 Net current period other comprehensive income (loss) 12 5 28 2 47 Balance, December 31, 2016 $ (40) $ 13 $ (47) $ (6) $ (80) Other comprehensive income (loss) before reclassifications, net of tax expense (benefit) of $0, $2, $0 and $1, respectively — 3 76 3 82 Amounts reclassified from accumulated other comprehensive (income) loss, net of tax (expense) benefit of $5, $(1), $0 and $0, respectively 7 (1) — — 6 Net current period other comprehensive income (loss) 7 2 76 3 88 Balance, December 31, 2017 $ (33) $ 15 $ 29 $ (3) $ 8 Other comprehensive income (loss) before reclassifications, net of tax expense (benefit) of $0, $2, $0 and $1, respectively — 5 (105) 2 (98) Amounts reclassified from accumulated other comprehensive (income) loss, net of tax (expense) benefit of $3, $0, $0 and $0, respectively 8 — — — 8 Net current period other comprehensive income (loss) 8 5 (105) 2 (90) Adoption of new accounting standard (a) (7) 3 — (1) (5) Balance, December 31, 2018 $ (32) $ 23 $ (76) $ (2) $ (87) (a) As of January 1, 2018, we adopted ASU 2018‑02 and reclassified stranded tax effects to retained earnings. See Note 2 for further discussion of ASU 2018-02. There have been no derivatives outstanding subsequent to March 31, 2016. For the year ended December 31, 2016, other comprehensive loss before reclassifications associated with the effective portion of derivatives designated as cash flow hedges for foreign currency derivatives was $7 million, net of tax benefit of $4 million. The significant amounts reclassified out of each component of accumulated other comprehensive income (loss) associated with our previously terminated cash flow hedges for the years ended December 31 are as follows (in millions, with amounts in parentheses representing debits to the statement of operations classification): Statement of 2018 2017 2016 Operations Classification Forward-starting interest rate swaps $ (10) $ (11) $ (10) Interest expense, net Treasury rate locks (1) (1) (1) Interest expense, net Foreign currency derivatives — — (20) Other, net (11) (12) (31) Total before tax 3 5 12 Tax (expense) benefit Total reclassifications for the period $ (8) $ (7) $ (19) Net of tax

Capital Stock, Dividends and Co

Capital Stock, Dividends and Common Stock Repurchase Program	12 Months Ended
	Dec. 31, 2018
Capital Stock, Dividends and Common Stock Repurchase Program
Capital Stock, Dividends and Common Stock Repurchase Program	13. Capital Stock, Dividends and Common Stock Repurchase Program Capital Stock We have 1.5 billion shares of authorized common stock with a par value of $0.01 per common share. As of December 31, 2018, we had 424.0 million shares of common stock issued and outstanding. The Board of Directors is authorized to issue preferred stock in series, and with respect to each series, to fix its designation, relative rights (including voting, dividend, conversion, sinking fund, and redemption rights), preferences (including dividends and liquidation) and limitations. We have 10 million shares of authorized preferred stock, $0.01 par value, none of which is currently outstanding. Dividends Our quarterly dividends have been declared by our Board of Directors. Cash dividends declared and paid were $802 million in 2018, or $1.86 per common share, $750 million in 2017, or $1.70 per common share, and $726 million in 2016, or $1.64 per common share. In December 2018, we announced that our Board of Directors expects to increase the quarterly dividend from $0.465 to $0.5125 per share for dividends declared in 2019. However, all future dividend declarations are at the discretion of the Board of Directors and depend on various factors, including our net earnings, financial condition, cash required for future business plans, growth and acquisitions and other factors the Board of Directors may deem relevant. Common Stock Repurchase Program The Company repurchases shares of its common stock as part of capital allocation programs authorized by our Board of Directors. Share repurchases during the reported periods were completed through accelerated share repurchase (“ASR”) agreements and, to a lesser extent, open market transactions. The terms of these ASR agreements required that we deliver cash at the beginning of each ASR repurchase period. In exchange, we received a portion of the total shares expected to be repurchased based on the then-current market price of our common stock. The remaining shares repurchased over the course of each repurchase period are delivered to us once the repurchase period is complete. Shares repurchased are reflected in the period the shares are delivered to us. The following is a summary of our share repurchases under our common stock repurchase program for the years ended December 31: 2018(a) 2017(b) 2016(c) Shares repurchased (in thousands) 11,673 10,058 11,241 Weighted average price per share $ 86.35 $ 77.67 $ 60.49 Total repurchases (in millions) $ 1,008 $ 750 $ 725 (a) During 2018, we executed and completed four ASR agreements to repurchase $850 million of our common stock and we received 9.8 million shares in connection with these ASR agreements. During 2018, we repurchased an additional 1.9 million shares of our common stock in open market transactions in compliance with Rule 10b5-1 and Rule 10b-18 of the Exchange Act for $158 million, inclusive of per-share commissions, which includes $4 million paid in 2019. (b) During 2017, we executed and completed two ASR agreements to repurchase $750 million of our common stock. Our “Shares repurchased” includes the 0.4 million shares related to the ASR agreement executed in November 2016, discussed further below. (c) During 2016, we executed four ASR agreements to repurchase $725 million of our common stock. The ASR agreement entered into in November 2016 was for the repurchase of $225 million of our common stock and was completed in February 2017. We received a total of 3.2 million shares based on a final weighted average price per share during the repurchase period of $69.43. Through February 8, 2019, we repurchased an additional 0.6 million shares of our common stock in open market transactions in compliance with Rule 10b5-1 and Rule 10b-18 of the Exchange Act for $54 million, inclusive of per‑share commissions, under our prior $1.25 billion Board of Directors authorization announced in December 2017. We announced in December 2018 that the Board of Directors has authorized up to $1.5 billion in future share repurchases,

Equity-Based Compensation

Equity-Based Compensation	12 Months Ended
	Dec. 31, 2018
Equity-Based Compensation
Equity-Based Compensation	14. Equity-Based Compensation Employee Stock Purchase Plan We have an Employee Stock Purchase Plan (“ESPP”) under which employees that have been employed for at least 30 days may purchase shares of our common stock at a discount. The plan provides for two offering periods for purchases: January through June and July through December. At the end of each offering period, enrolled employees purchase shares of our common stock at a price equal to 85% of the lesser of the market value of the stock on the first and last day of such offering period. The purchases are made at the end of an offering period with funds accumulated through payroll deductions over the course of the offering period. Subject to limitations set forth in the plan and under IRS regulations, eligible employees may elect to have up to 10% of their base pay deducted during the offering period. The total number of shares issued under the plan for the offering periods in 2018, 2017 and 2016 was approximately 582,000, 594,000 and 647,000, respectively. After the January 2019 issuance of shares associated with the July to December 2018 offering period, 1.3 million shares remain available for issuance under the ESPP. Accounting for our ESPP increased annual compensation expense by $9 million, or $7 million net of tax expense, for 2018 and $7 million, or $4 million net of tax expense, for 2017 and 2016. Employee Stock Incentive Plans In May 2014, our stockholders approved our 2014 Stock Incentive Plan (the “2014 Plan”) to replace our 2009 Stock Incentive Plan (the “2009 Plan”). The 2014 Plan authorized 23.8 million shares of our common stock for issuance pursuant to the 2014 Plan, plus the approximately 1.1 million shares that then remained available for issuance under the 2009 Plan, and any shares subject to outstanding awards under both incentive plans that are subsequently cancelled, forfeited, terminate, expire or lapse. As of December 31, 2018, approximately 20.8 million shares were available for future grants under the 2014 Plan. All of our equity-based compensation awards described herein have been made pursuant to either our 2009 Plan or our 2014 Plan, collectively referred to as the “Incentive Plans.” We currently utilize treasury shares to meet the needs of our equity-based compensation programs. Pursuant to the Incentive Plans, we have the ability to issue stock options, stock appreciation rights and stock awards, including restricted stock, restricted stock units (“RSUs”) and performance share units (“PSUs”). The terms and conditions of equity awards granted under the Incentive Plans are determined by the Management Development and Compensation Committee of our Board of Directors. The 2018 annual Incentive Plan awards granted to the Company’s senior leadership team, which generally includes the Company’s executive officers, included a combination of PSUs and stock options. The annual Incentive Plan awards granted to other eligible employees included a combination of PSUs, RSUs and stock options in 2018. The Company also periodically grants RSUs to employees working on key initiatives, in connection with new hires and promotions and to field-based managers. Restricted Stock Units — A summary of our RSUs is presented in the table below (units in thousands): Weighted Average Per Share Units Fair Value Unvested as of January 1, 2018 444 $ 61.20 Granted 116 $ 85.52 Vested (154) $ 55.03 Forfeited (14) $ 69.19 Unvested as of December 31, 2018 392 $ 70.52 The total fair market value of RSUs that vested during the years ended December 31, 2018, 2017 and 2016 was $13 million, $12 million and $12 million, respectively. During the year ended December 31, 2018, we issued approximately 106,000 shares of common stock for these vested RSUs, net of approximately 48,000 units deferred or used for payment of associated taxes. RSUs may not be voted or sold by award recipients until time-based vesting restrictions have lapsed. RSUs primarily provide for three-year cliff vesting and include dividend equivalents accumulated during the vesting period. Unvested units are subject to forfeiture in the event of voluntary or for-cause termination. RSUs are subject to pro-rata vesting upon an employee’s retirement or involuntary termination other than for cause and generally payout at the end of the three-year vesting period and become immediately vested in the event of an employee’s death or disability. Compensation expense associated with RSUs is measured based on the grant-date fair value of our common stock and is recognized on a straight-line basis over the required employment period, which is generally the vesting period. Compensation expense is only recognized for those awards that we expect to vest, which we estimate based upon an assessment of expected forfeitures. Performance Share Units — Two types of PSUs are currently outstanding: (i) PSUs for which payout is dependent on total shareholder return relative to the S&P 500 (“TSR PSUs”) and (ii) PSUs for which payout is dependent on the Company’s performance against pre-established adjusted cash flow metrics (“Cash Flow PSUs”). Both types of PSUs are payable in shares of common stock after the end of a three-year performance period, when the Company’s financial performance for the entire performance period is reported, typically in mid- to late-February of the succeeding year. At the end of the performance period, the number of shares awarded can range from 0% to 200% of the targeted amount, depending on the performance against the pre-established targets. A summary of our PSUs, at 100% of the targeted amount, is presented in the table below (units in thousands): Weighted Average Per Share Units Fair Value Unvested as of January 1, 2018 1,299 $ 84.78 Granted 371 $ 98.45 Vested (459) $ 82.22 Forfeited (47) $ 87.59 Unvested as of December 31, 2018 1,164 $ 90.17 The determination of achievement of performance results and corresponding vesting of PSUs for the three-year performance period ended December 31, 2018 was performed by the Management Development and Compensation Committee in February 2019. Accordingly, vesting information for such awards is not included in the table above as of December 31, 2018. The “vested” PSUs are for the three-year performance period ended December 31, 2017, as achievement of performance results and corresponding vesting was determined in February 2018. The Company’s financial results, as measured for purposes of these awards, achieved the maximum performance criteria. Accordingly, recipients of these PSU awards were entitled to receive a payout of 200% of the vested TSR PSUs and Cash Flow PSUs. In February 2018, approximately 918,000 PSUs vested and we issued approximately 575,000 shares of common stock for these vested PSUs, net of units deferred or used for payment of associated taxes. The shares of common stock that were issued or deferred during the years ended December 31, 2018, 2017 and 2016 for prior PSU award grants had a fair market value of $78 million, $80 million and $50 million, respectively. PSUs have no voting rights. PSUs receive dividend equivalents that are paid out in cash based on the number of shares that vest at the end of the awards’ performance period. Subject to attainment of the performance metrics described above, PSUs are payable to an employee (or his beneficiary) upon death or disability as if that employee had remained employed until the end of the performance period. PSUs are generally subject to pro-rata vesting upon an employee’s involuntary termination other than for cause and are subject to forfeiture in the event of voluntary or for-cause termination. With respect to outstanding PSUs granted prior to 2018, such awards generally vest on a pro-rata basis upon retirement; whereas, the terms of the award agreements for outstanding PSUs granted in 2018 provide for continued vesting following retirement as if the employee had remained employed until the end of the performance period. As a result, beginning in 2018, compensation expense for PSUs granted to retirement-eligible employees is accelerated over the period that the recipient becomes retirement-eligible plus a defined service requirement. Prior to 2017, compensation expense associated with our Cash Flow PSUs was primarily measured based on the fair value of our common stock at the end of each reporting period until the performance period ends. Beginning in 2017, compensation expense associated with our Cash Flow PSUs is based on the grant-date fair value of our common stock. Compensation expense is recognized ratably over the performance period based on our estimated achievement of the established performance criteria. Compensation expense is only recognized for those awards that we expect to vest, which we estimate based upon an assessment of both the probability that the performance criteria will be achieved and expected forfeitures. The grant-date fair value of our TSR PSUs is based on a Monte Carlo valuation and compensation expense is recognized on a straight-line basis over the vesting period. Compensation expense is recognized for all TSR PSUs whether or not the market conditions are achieved less expected forfeitures. Deferred Units — Certain employees can elect to defer some or all of the vested RSU or PSU awards until a specified date or dates they choose. Deferred units are not invested, nor do they earn interest, but deferred amounts do receive dividend equivalents paid in cash during deferral at the same time and at the same rate as dividends on the Company’s common stock. Deferred amounts are paid out in shares of common stock at the end of the deferral period. As of December 31, 2018, we had approximately 262,000 vested deferred units outstanding. Stock Options — Stock options granted vest primarily in 25% increments on the first two anniversaries of the date of grant with the remaining 50% vesting on the third anniversary. The exercise price of the options is the average of the high and low market value of our common stock on the date of grant, and the options have a term of ten years. A summary of our stock options is presented in the table below (options in thousands): Weighted Average Per Share Options Exercise Price Outstanding as of January 1, 2018 4,885 $ 53.46 Granted 779 $ 85.34 Exercised (1,125) $ 50.64 Forfeited or expired (98) $ 67.53 Outstanding as of December 31, 2018 (a) 4,441 $ 59.46 Exercisable as of December 31, 2018 (b) 2,269 $ 46.86 (a) Stock options outstanding as of December 31, 2018 have a weighted average remaining contractual term of 6.4 years and an aggregate intrinsic value of $131 million based on the market value of our common stock on December 31, 2018. (b) Stock options exercisable as of December 31, 2018 have an aggregate intrinsic value of $96 million based on the market value of our common stock on December 31, 2018. We received cash proceeds of $52 million, $95 million and $63 million during the years ended December 31, 2018, 2017 and 2016, respectively, from employee stock option exercises. The aggregate intrinsic value of stock options exercised during the years ended December 31, 2018, 2017 and 2016 was $41 million, $71 million and $67 million, respectively. Stock options exercisable as of December 31, 2018 were as follows (options in thousands): Weighted Average Per Share Weighted Average Range of Exercise Prices Options Exercise Price Remaining Years $33.49-$50.00 1,288 $ 37.89 3.5 $50.01-$70.00 797 $ 55.20 6.5 $70.01-$85.34 184 $ 73.40 8.2 $33.49-$85.34 2,269 $ 46.86 4.9 All unvested stock options shall become exercisable upon the award recipient’s death or disability. In the event of a recipient’s retirement, stock options shall continue to vest pursuant to the original schedule set forth in the award agreement. If the recipient is terminated by the Company without cause or voluntarily resigns, the recipient shall be entitled to exercise all stock options outstanding and exercisable within a specified time frame after such termination. All outstanding stock options, whether exercisable or not, are forfeited upon termination for cause. We account for our employee stock options under the fair value method of accounting using a Black-Scholes valuation model to measure stock option expense at the date of grant. The weighted average grant-date fair value of stock options granted during the years ended December 31, 2018, 2017 and 2016 was $12.16, $11.71 and $6.31, respectively. The fair value of stock options at the date of grant is amortized to expense over the vesting period less expected forfeitures, except for stock options granted to retirement-eligible employees, for which expense is accelerated over the period that the recipient becomes retirement-eligible. The following table presents the weighted average assumptions used to value employee stock options granted during the years ended December 31 under the Black-Scholes valuation model: 2018 2017 2016 Expected option life 4.3 years 3.5 years 4.7 years Expected volatility 17.9 % 15.3 % 18.4 % Expected dividend yield 2.2 % 2.3 % 2.9 % Risk-free interest rate 2.6 % 1.7 % 1.3 % The Company bases its expected option life on the expected exercise and termination behavior of its optionees and an appropriate model of the Company’s future stock price. The expected volatility assumption is derived from the historical volatility of the Company’s common stock over the most recent period commensurate with the estimated expected life of the Company’s stock options, combined with other relevant factors including implied volatility in market-traded options on the Company’s stock. The dividend yield is the annual rate of dividends per share over the exercise price of the option as of the grant date. For the years ended December 31, 2018, 2017 and 2016, we recognized $79 million, $92 million and $81 million, respectively, of compensation expense associated with RSU, PSU and stock option awards as a component of selling, general and administrative expenses in our Consolidated Statements of Operations. Our income tax expense for the years ended December 31, 2018, 2017 and 2016 includes related deferred income tax benefits of $17 million, $36 million and $32 million, respectively. We have not capitalized any equity-based compensation costs during the reported periods. Compensation expense increased in 2017 primarily due to charges related to the retirement treatment for unexercised stock options of certain former employees. As of December 31, 2018, we estimate that $44 million of currently unrecognized compensation expense will be recognized over a weighted average period of 1.4 years for our unvested RSU, PSU and stock option awards issued and outstanding. Non-Employee Director Plan Our non-employee directors currently receive annual grants of shares of our common stock, generally payable in two equal installments, under the 2014 Plan described above.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2018
Earnings Per Share
Earnings Per Share	15. Earnings Per Share Basic and diluted earnings per share were computed using the following common share data for the years ended December 31 (shares in millions): 2018 2017 2016 Number of common shares outstanding at end of period 424.0 433.3 439.3 Effect of using weighted average common shares outstanding 5.1 5.5 4.2 Weighted average basic common shares outstanding 429.1 438.8 443.5 Dilutive effect of equity-based compensation awards and other contingently issuable shares (a) 3.1 3.1 3.0 Weighted average diluted common shares outstanding 432.2 441.9 446.5 Potentially issuable shares 7.4 8.1 9.8 Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding 1.5 1.9 1.0 (a)

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2018
Fair Value Measurements
Fair Value Measurements	16. Fair Value Measurements Assets and Liabilities Accounted for at Fair Value Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When measuring assets and liabilities that are required to be recorded at fair value, the Company considers the principal or most advantageous market in which the Company would transact. Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement: Level 1 — Quoted prices in active markets for identical assets or liabilities. Level 2 — Observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 — Inputs that are generally unobservable and typically reflect management’s estimate of assumptions that market participants would use in pricing the asset or liability. We use valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. In measuring the fair value of our assets and liabilities, we use market data or assumptions that we believe market participants would use in pricing an asset or liability, including assumptions about risk when appropriate. Our assets and liabilities that are measured at fair value on a recurring basis include the following as of December 31 (in millions): 2018 2017 Fair Value Measurements Using: Quoted prices in active markets (Level 1): Money market funds $ 70 $ 225 70 225 Significant other observable inputs (Level 2): Available-for-sale securities 288 96 288 96 Significant unobservable inputs (Level 3): Redeemable preferred stock 66 55 66 55 Total Assets $ 424 $ 376 Money Market Funds We invest portions of our restricted trust and escrow account balances in money market funds. We measure the fair value of these investments using quoted prices in active markets for identical assets. The fair value of our money market funds approximates our cost basis in the investments. The decrease in 2018 is primarily attributable to changes in our investments portfolio associated with our wholly-owned insurance captive from money market funds to available-for-sale securities. Available-for-Sale Securities Our available-for-sale securities include restricted trust and escrow account balances and an investment in an unconsolidated entity, as discussed in Note 18. We invest primarily in debt securities, including U.S. Treasury securities, U.S. agency securities, municipal securities and mortgage- and asset-backed securities. Additionally, some funds are invested in equity securities. We measure the fair value of these securities using quoted prices for identical or similar assets in inactive markets. Any changes in fair value of these trusts related to unrealized gains and losses have been appropriately reflected as a component of accumulated other comprehensive income (loss). The increase in 2018 is primarily attributable to changes in our investments portfolio, as discussed above. Redeemable Preferred Stock Redeemable preferred stock is related to noncontrolling investments in unconsolidated entities and is included in investments in unconsolidated entities in our Consolidated Balance Sheets. The fair value of our 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 company comparable transactions. During 2018, the unrealized gain in fair value of our redeemable preferred stock of $11 million was based on recent third-party investors’ transactions in these securities and was reflected as a component of accumulated other comprehensive income (loss). Fair Value of Debt As of December 31, 2018 and 2017, the carrying value of our debt was $10.0 billion and $9.5 billion, respectively. The estimated fair value of our debt was approximately $10.1 billion and $9.9 billion as of December 31, 2018 and 2017, respectively. The increase in the fair value of our debt when comparing December 31, 2018 with December 31, 2017 is primarily related to net borrowings of $563 million during 2018 and fluctuations in current market rates for similar types of instruments. 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 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 December 31, 2018 and 2017. These amounts have not been revalued since those dates, and current estimates of fair value could differ significantly from the amounts presented.

Acquisitions and Divestitures

Acquisitions and Divestitures	12 Months Ended
	Dec. 31, 2018
Acquisitions and Divestitures
Acquisitions and Divestitures	17. Acquisitions and Divestitures Acquisitions We continue to pursue the acquisition of businesses that are accretive to our Solid Waste business and enhance and expand our existing service offerings. During the year ended December 31, 2018, we acquired 32 businesses primarily related to our Solid Waste business. Total consideration, net of cash acquired, for all acquisitions was $471 million, which included $440 million in cash paid and $31 million of other consideration, primarily purchase price holdbacks. In 2018, we paid $6 million of contingent consideration associated with acquisitions completed prior to 2018. In addition, we paid $ 20 million of holdbacks, of which $15 million related to current year acquisitions. Contingent consideration obligations are primarily based on achievement by the acquired businesses of certain negotiated goals, which generally include targeted financial metrics. Total consideration for our 2018 acquisitions was primarily allocated to $11 5 million of property and equipment, $141 million of other intangible assets and $248 million of goodwill. Other intangible assets included $124 million of customer and supplier relationships, $16 million of covenants not-to-compete and $1 million of other intangible assets. The goodwill is primarily a result of expected synergies from combining the acquired businesses with our existing operations and substantially all is tax deductible. During the year ended December 31, 2017, we acquired 24 businesses related to our Solid Waste business. Total consideration, net of cash acquired, for all acquisitions was $205 million, which included $183 million in cash paid and other consideration of $22 million, primarily purchase price holdbacks. In 2017, we paid $3 million of contingent consideration associated with acquisitions completed prior to 2017. In addition, we paid $14 million of holdbacks, of which $13 million related to 2017 acquisitions. Total consideration for our 2017 acquisitions was primarily allocated to $127 million of property and equipment, $46 million of other intangible assets and $39 million of goodwill. Other intangible assets included $39 million of customer and supplier relationships and $7 million of covenants not-to-compete. The goodwill was primarily a result of expected synergies from combining the acquired businesses with our existing operations and was tax deductible. During the year ended December 31, 2016, we acquired 30 businesses primarily related to our Solid Waste business. Total consideration, net of cash acquired, for all acquisitions was $604 million, which included $581 million in cash paid and other consideration of $23 million, primarily purchase price holdbacks. In 2016, we paid $4 million of contingent consideration for acquisitions completed prior to 2016. In addition, we paid $26 million of holdbacks, of which $16 million related to 2016 acquisitions. Total consideration for our 2016 acquisitions was primarily allocated to $115 million of property and equipment, $212 million of other intangible assets and $280 million of goodwill. Other intangible assets included $185 million of customer and supplier relationships, $23 million of covenants not-to-compete and $4 million for a trade name. The goodwill was primarily a result of expected synergies from combining the acquired businesses with our existing operations and was tax deductible. Southern Waste Systems/Sun Recycling (“SWS”) — On January 8, 2016, Waste Management Inc. of Florida, an indirect wholly-owned subsidiary of WM, acquired certain operations and business assets of SWS in Southern Florida for total consideration of $525 million. The acquired business assets include residential, commercial and industrial solid waste collection, processing/recycling and transfer operations, equipment, vehicles, real estate and customer agreements. The acquisition was funded primarily with borrowings under our revolving credit facility. Total consideration for SWS was allocated to $93 million of property and equipment, $182 million of other intangible assets and $250 million of goodwill. The goodwill was assigned to our Florida Area, in our Tier 3 segment, and was tax deductible. The acquisition accounting for this transaction was finalized in 2016. The following table presents the fair value assigned to other intangible assets for the SWS acquisition (amounts in millions, except for amortization periods): SWS Weighted Average Amortization Periods Amount (in Years) Customer and supplier relationships $ 160 10.0 Covenants not-to-compete 18 5.0 Trade name 4 10.0 Total other intangible assets subject to amortization $ 182 9.5 Divestitures In 2018, 2017 and 2016, the aggregate sales price for divestitures of certain hauling and ancillary operations was $153 million, $62 million and $2 million and we recognized net gains of $96 million, net gains of $38 million and net losses of $9 million, respectively. These divestitures were made as part of our continuous focus on improving or divesting certain non-strategic or underperforming operations. The remaining amounts reported in the Consolidated Statements of Cash Flows generally relate to the sale of fixed assets.

Variable Interest Entities

Variable Interest Entities	12 Months Ended
	Dec. 31, 2018
Variable Interest Entities
Variable Interest Entities	18. Variable Interest Entities Following is a description of our financial interests in unconsolidated and consolidated variable interest entities that we consider significant: Low-Income Housing Properties and Refined Coal Facility Investments We do not consolidate our investments in entities established to manage low-income housing properties and a refined coal facility because we are not the primary beneficiary of these entities as we do not have the power to individually direct the activities of these entities. Accordingly, we account for these investments under the equity method of accounting. Our aggregate investment balance in these entities was $189 million and $59 million as of December 31, 2018 and 2017, respectively. The debt balance related to our investments in low-income housing properties was $151 million and $34 million as of December 31, 2018 and 2017, respectively. Additional information related to these investments is discussed in Note 8. Trust Funds for Final Capping, Closure, Post-Closure or Environmental Remediation Obligations Unconsolidated Variable Interest Entities — Trust funds that are established for both the benefit of the Company and the host community in which we operate are not consolidated because we are not the primary beneficiary of these entities as we either do not have the (i) power to direct the significant activities of the trusts or (ii) power over the trusts’ significant activities is shared. Our interests in these trusts 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 Consolidated Balance Sheets, as appropriate. We also reflect our share of the unrealized gains and losses on available-for-sale securities held by these trusts as a component of our accumulated other comprehensive income (loss). Our investments and receivables related to these trusts had an aggregate carrying value of $92 million and $99 million as of December 31, 2018 and 2017, respectively. Consolidated Variable Interest Entities — Trust funds for which we are the sole beneficiary are consolidated because we are the primary beneficiary. These trust funds are recorded in restricted trust and escrow accounts in our Consolidated Balance Sheets. Unrealized gains and losses on available-for-sale securities held by these trusts are recorded as a component of accumulated other comprehensive income (loss). These trusts had a fair value of $103 million and $101 million as of December 31, 2018 and 2017, respectively.

Segment and Related Information

Segment and Related Information	12 Months Ended
	Dec. 31, 2018
Segment and Related Information
Segment and Related Information	19. Segment and Related Information We evaluate, oversee and manage the financial performance of our Solid Waste business subsidiaries through our 17 Areas. The 17 Areas constitute operating segments and 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 geographies 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. In 2017, we analyzed the Areas’ income from operations margins for purposes of segment reporting and realigned our Solid Waste tiers to reflect recent 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. In 2018, there was no realignment of our Solid Waste tiers. Tier 1 is comprised of our operations across the Southern U.S., 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 and Minnesota. Tier 3 encompasses all the remaining operations including the Pacific Northwest and Northern California, the Mid-Atlantic region of the U.S., 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 as of December 31 and for the years then ended is shown in the following table (in millions): Income Gross Intercompany Net from Depreciation Capital Total Operating Operating Operating Operations and Expenditures Assets Revenues Revenues(c) Revenues (d)(e) Amortization (f) (g)(h) Years Ended December 31: 2018 Solid Waste: Tier 1 $ 5,868 $ (1,063) $ 4,805 $ 1,642 $ 510 $ 595 $ 6,958 Tier 2 2,622 (487) 2,135 542 232 257 3,761 Tier 3 7,047 (1,365) 5,682 1,211 614 547 9,119 Solid Waste 15,537 (2,915) 12,622 3,395 1,356 1,399 19,838 Other (a) 2,487 (195) 2,292 (66) 91 72 1,571 18,024 (3,110) 14,914 3,329 1,447 1,471 21,409 Corporate and Other (b) — — — (540) 30 200 1,487 Total $ 18,024 $ (3,110) $ 14,914 $ 2,789 $ 1,477 $ 1,671 $ 22,896 2017 Solid Waste: Tier 1 $ 5,576 $ (1,002) $ 4,574 $ 1,538 $ 451 $ 603 $ 6,528 Tier 2 2,559 (443) 2,116 552 203 185 3,749 Tier 3 6,697 (1,220) 5,477 1,199 574 595 8,727 Solid Waste 14,832 (2,665) 12,167 3,289 1,228 1,383 19,004 Other (a) 2,538 (220) 2,318 (68) 103 93 1,785 17,370 (2,885) 14,485 3,221 1,331 1,476 20,789 Corporate and Other (b) — — — (585) 45 92 1,327 Total $ 17,370 $ (2,885) $ 14,485 $ 2,636 $ 1,376 $ 1,568 $ 22,116 2016 Solid Waste: Tier 1 $ 5,241 $ (911) $ 4,330 $ 1,430 $ 424 $ 452 $ 6,188 Tier 2 2,400 (404) 1,996 522 190 157 3,562 Tier 3 6,327 (1,137) 5,190 994 530 589 8,497 Solid Waste 13,968 (2,452) 11,516 2,946 1,144 1,198 18,247 Other (a) 2,278 (185) 2,093 (100) 101 104 1,489 16,246 (2,637) 13,609 2,846 1,245 1,302 19,736 Corporate and Other (b) — — — (550) 56 45 1,401 Total $ 16,246 $ (2,637) $ 13,609 $ 2,296 $ 1,301 $ 1,347 $ 21,137 (a) Our “Other” net operating revenues and “Other” income from operations include (i) our WMSBS organization; (ii) those elements of our landfill gas-to-energy operations and third-party subcontract and administration revenues managed by our EES and WM Renewable Energy organizations that are not included in the operations of our reportable segments; (iii) our recycling brokerage services and (iv) certain other expanded service offerings and solutions. In addition, our “Other” segment reflects the results of non-operating entities that provide financial assurance and self-insurance support for our Solid Waste business, net of intercompany activity. (b) Corporate operating results reflect certain costs incurred for various support services that are not allocated to our reportable segments. These support services include, among other things, treasury, legal, information technology, tax, insurance, centralized service center processes, other administrative functions and the maintenance of our closed landfills. Income from operations for “Corporate and other” also includes costs associated with our long-term incentive program and any administrative expenses or revisions to our estimated obligations associated with divested operations. (c) Intercompany operating revenues reflect each segment’s total intercompany sales, including intercompany sales within a segment and between segments. Transactions within and between segments are generally made on a basis intended to reflect the market value of the service. (d) For those items included in the determination of income from operations, the accounting policies of the segments are the same as those described in Note 3. (e) The income from operations provided by our Solid Waste business is generally indicative of the margins provided by our collection, landfill, transfer and recycling lines of business. From time to time, the operating results of our reportable segments are significantly affected by certain transactions or events that management believes are not indicative or representative of our results. Refer to Note 11 for explanations of certain transactions and events affecting our operating results. (f) Includes non-cash items. Capital expenditures are reported in our reportable segments at the time they are recorded within the segments’ property and equipment balances and, therefore, may include amounts that have been accrued but not yet paid. (g) The reconciliation of total assets reported above to total assets in the Consolidated Balance Sheets as of December 31 is as follows (in millions): 2018 2017 2016 Total assets, as reported above $ 22,896 $ 22,116 $ 21,137 Elimination of intercompany investments and advances (246) (287) (278) Total assets, per Consolidated Balance Sheet $ 22,650 $ 21,829 $ 20,859 (h) Goodwill is included within each segment’s total assets. For segment reporting purposes, our material recovery facilities are included as a component of their respective Areas and our recycling brokerage services are included as part of our “Other” operations. The following table presents changes in goodwill during the reported periods by segment (in millions): Solid Waste Tier 1 Tier 2 Tier 3 Other Total Balance, December 31, 2016 $ 2,203 $ 1,196 $ 2,661 $ 155 $ 6,215 Acquired goodwill 12 20 7 — 39 Divested goodwill — (1) — — (1) Impairments — — — (34) (34) Foreign currency translation 6 22 — — 28 Balance, December 31, 2017 $ 2,221 $ 1,237 $ 2,668 $ 121 $ 6,247 Acquired goodwill 88 17 142 1 248 Divested goodwill (6) — — (19) (25) Impairments — — — (6) (6) Foreign currency translation (7) (27) — — (34) Balance, December 31, 2018 $ 2,296 $ 1,227 $ 2,810 $ 97 $ 6,430 The mix of operating revenues from our major lines of business for the years ended December 31 are as follows (in millions): 2018 2017 2016 Commercial $ 3,972 $ 3,714 $ 3,480 Residential 2,529 2,528 2,487 Industrial 2,773 2,583 2,412 Other 450 439 423 Total collection 9,724 9,264 8,802 Landfill 3,560 3,370 3,110 Transfer 1,711 1,591 1,512 Recycling 1,293 1,432 1,221 Other (a) 1,736 1,713 1,601 Intercompany (b) (3,110) (2,885) (2,637) Total $ 14,914 $ 14,485 $ 13,609 (a) The “Other” line of business includes (i) our WMSBS organization; (ii) our landfill gas-to-energy operations; (iii) certain services within our EES organization, including our construction and remediation services and our services associated with the disposal of fly ash and (iv) certain other expanded service offerings and solutions. In addition, our “Other” line of business reflects the results of non-operating entities that provide financial assurance and self-insurance support, net of intercompany activity. (b) Intercompany revenues between lines of business are eliminated in the Consolidated Financial Statements included within this report. Net operating revenues relating to operations in the U.S. and Canada for the years ended December 31 are as follows (in millions): 2018 2017 2016 U.S. $ 14,167 $ 13,768 $ 12,915 Canada 747 717 694 Total $ 14,914 $ 14,485 $ 13,609 Property and equipment, net of accumulated depreciation and amortization, relating to operations in the U.S. and Canada for the years ended December 31 are as follows (in millions): 2018 2017 2016 U.S. $ 11,044 $ 10,591 $ 10,040 Canada 898 968 910 Total $ 11,942 $ 11,559 $ 10,950

Quarterly Financial Data (Unaud

Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2018
Quarterly Financial Data
Quarterly Financial Data (Unaudited)	20. Quarterly Financial Data (Unaudited) The following table summarizes the unaudited quarterly results of operations for 2018 and 2017 (in millions, except per share amounts): First Second Third Fourth Quarter Quarter Quarter Quarter 2018 Operating revenues $ 3,511 $ 3,739 $ 3,822 $ 3,842 Income from operations 608 715 699 767 Consolidated net income 395 499 498 531 Net income attributable to Waste Management, Inc. 396 499 499 531 Basic earnings per common share 0.91 1.16 1.16 1.25 Diluted earnings per common share 0.91 1.15 1.16 1.24 2017 Operating revenues $ 3,440 $ 3,677 $ 3,716 $ 3,652 Income from operations 558 673 701 704 Consolidated net income 297 361 388 903 Net income attributable to Waste Management, Inc. 298 362 386 903 Basic earnings per common share 0.68 0.82 0.88 2.08 Diluted earnings per common share 0.67 0.81 0.87 2.06 Basic and diluted earnings per common share for each of the quarters presented above is based on the respective weighted average number of common and dilutive potential common shares outstanding for each quarter and the sum of the quarters may not necessarily be equal to the full year basic and diluted earnings per common share amounts. Our operating revenues tend to be somewhat higher in summer months, primarily due to the higher construction and demolition waste volumes. 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. Additionally, from time to time, our operating results are significantly affected by certain transactions or events that management believes are not indicative or representative of our ongoing results. The following items significantly impacted our operating results during the periods indicated: Second Quarter 2018 · The recognition of net pre-tax gains of $40 million related to the sale of certain ancillary operations, which had a favorable impact of $0.07 on our diluted earnings per share. · An income tax benefit of $33 million due to the settlement of various tax audits, which had a favorable impact of $0.07 on our diluted earnings per share. Third Quarter 2018 · Income tax benefits of $27 million primarily due to impacts of enactment of tax reform and changes in state laws, which had a favorable impact of $0.06 on our diluted earnings per share. · The recognition of pre-tax charges of $32 million primarily related to a $29 million charge to impair a landfill in our Tier 3 segment, which is discussed further in Note 11. These charges had a negative impact of $0.05 on our diluted earnings per share. Fourth Quarter 2018 · The recognition of a pre-tax gain of $52 million associated with the sale of certain hauling operations in our Tier 1 segment and $8 million of impairment charges primarily related to our LampTracker ® reporting unit. These items had a favorable impact of $0.07 on our diluted earnings per share. · A reduction in our income tax expense of $17 million for an adjustment to our deferred taxes to reduce our deferred tax liability based on an analysis of certain deferred tax balances. This item had a favorable impact of $0.04 on our diluted earnings per share. First Quarter 2017 · A reduction in our income tax expense of $32 million for excess tax benefits related to the vesting or exercise of equity-based compensation awards and a $25 million pre-tax charge to write down an equity method investment in a waste diversion technology company to its fair value. These items had a favorable impact of $0.01 on our diluted earnings per share. Third Quarter 2017 · The recognition of pre-tax charges including (i) an $11 million charge for the withdrawal from an underfunded Multiemployer Pension Plan and (ii) a $9 million charge to adjust our subsidiary’s estimated potential share of an environmental remediation liability and related costs for a closed site in Harris County, Texas. These charges had a negative impact of $0.03 on our diluted earnings per share. Fourth Quarter 2017 · An income tax benefit of $529 million related to enactment of the Act, consisting of a net tax benefit of $595 million related to the remeasurement of our deferred income tax assets and liabilities, partially offset by income tax expense of $66 million for a one-time, mandatory transition tax on the deemed repatriation of previously tax-deferred and unremitted foreign earnings. This net tax benefit had a favorable impact of $1.21 on our diluted earnings per share . · The recognition of net pre-tax gains of $26 million primarily related to (i) gains of $31 million from the sale of certain oil and gas producing properties and (ii) a gain of $30 million related to the reduction in post-closing, performance-based contingent consideration obligations associated with an acquired business in our EES organization, partially offset by goodwill impairment charges of $34 million, primarily related to our EES organization. These net gains had a favorable impact of $0.03 on our diluted earnings per share. · The recognition of pre-tax charges of $11 million related to the impairment of investments in waste diversion technology companies. These impairments were not deductible for income taxes and had a negative impact of $0.02 on our diluted earnings per share. · The recognition of a pre-tax loss of $6 million associated with the early extinguishment of $590 million of 6.1% senior notes ahead of their scheduled maturity date, which had a negative impact of $0.01 on our diluted earnings per share.

Condensed Consolidating Financi

Condensed Consolidating Financial Statements	12 Months Ended
	Dec. 31, 2018
Condensed Consolidating Financial Statements
Condensed Consolidating Financial Statements	21. 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 December 31, 2018 WM Non-Guarantor WM Holdings Subsidiaries Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ — $ — $ 61 $ — $ 61 Other current assets 2 5 2,577 — 2,584 2 5 2,638 — 2,645 Property and equipment, net — — 11,942 — 11,942 Investments in affiliates 24,676 25,097 — (49,773) — Advances to affiliates — — 17,258 (17,258) — Other assets 8 31 8,024 — 8,063 Total assets $ 24,686 $ 25,133 $ 39,862 $ (67,031) $ 22,650 LIABILITIES AND EQUITY Current liabilities: Current portion of long-term debt $ 258 $ — $ 174 $ — $ 432 Accounts payable and other current liabilities 82 9 2,585 — 2,676 340 9 2,759 — 3,108 Long-term debt, less current portion 7,377 304 1,913 — 9,594 Due to affiliates 17,398 146 6,709 (24,253) — Other liabilities 5 — 3,667 — 3,672 Total liabilities 25,120 459 15,048 (24,253) 16,374 Equity: Stockholders’ equity 6,275 24,674 25,099 (49,773) 6,275 Advances to affiliates (6,709) — (286) 6,995 — Noncontrolling interests — — 1 — 1 (434) 24,674 24,814 (42,778) 6,276 Total liabilities and equity $ 24,686 $ 25,133 $ 39,862 $ (67,031) $ 22,650 CONDENSED CONSOLIDATING BALANCE SHEETS (Continued) December 31, 2017 WM Non-Guarantor WM Holdings Subsidiaries Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ — $ — $ 22 $ — $ 22 Other current assets 5 5 2,662 — 2,672 5 5 2,684 — 2,694 Property and equipment, net — — 11,559 — 11,559 Investments in affiliates 22,393 22,893 — (45,286) — Advances to affiliates — — 15,349 (15,349) — Other assets 9 31 7,536 — 7,576 Total assets $ 22,407 $ 22,929 $ 37,128 $ (60,635) $ 21,829 LIABILITIES AND EQUITY Current liabilities: Current portion of long-term debt $ 537 $ — $ 202 $ — $ 739 Accounts payable and other current liabilities 55 9 2,459 — 2,523 592 9 2,661 — 3,262 Long-term debt, less current portion 6,457 304 1,991 — 8,752 Due to affiliates 15,404 224 6,073 (21,701) — Other liabilities 8 — 3,765 — 3,773 Total liabilities 22,461 537 14,490 (21,701) 15,787 Equity: Stockholders’ equity 6,019 22,392 22,894 (45,286) 6,019 Advances to affiliates (6,073) — (279) 6,352 — Noncontrolling interests — — 23 — 23 (54) 22,392 22,638 (38,934) 6,042 Total liabilities and equity $ 22,407 $ 22,929 $ 37,128 $ (60,635) $ 21,829 CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS WM Non-Guarantor WM Holdings Subsidiaries Eliminations Consolidated Years Ended December 31: 2018 Operating revenues (a) $ — $ — $ 15,090 $ (176) $ 14,914 Costs and expenses (a) 176 — 12,125 (176) 12,125 Income from operations (176) — 2,965 — 2,789 Other income (expense): Interest expense, net (312) (20) (42) — (374) Equity in earnings of subsidiaries, net of tax 2,284 2,298 — (4,582) — Other, net — — (39) — (39) 1,972 2,278 (81) (4,582) (413) Income before income taxes 1,796 2,278 2,884 (4,582) 2,376 Income tax expense (benefit) (129) (5) 587 — 453 Consolidated net income 1,925 2,283 2,297 (4,582) 1,923 Less: Net loss attributable to noncontrolling interests — — (2) — (2) Net income attributable to Waste Management, Inc. $ 1,925 $ 2,283 $ 2,299 $ (4,582) $ 1,925 2017 Operating revenues (a) $ — $ — $ 15,040 $ (555) $ 14,485 Costs and expenses (a) 555 — 11,849 (555) 11,849 Income from operations (555) — 3,191 — 2,636 Other income (expense): Interest expense, net (299) (20) (44) — (363) Equity in earnings of subsidiaries, net of tax 2,469 2,482 — (4,951) — Other, net (4) (1) (77) — (82) 2,166 2,461 (121) (4,951) (445) Income before income taxes 1,611 2,461 3,070 (4,951) 2,191 Income tax expense (benefit) (338) (8) 588 — 242 Consolidated net income 1,949 2,469 2,482 (4,951) 1,949 Less: Net loss attributable to noncontrolling interests — — — — — Net income attributable to Waste Management, Inc. $ 1,949 $ 2,469 $ 2,482 $ (4,951) $ 1,949 2016 Operating revenues $ — $ — $ 13,609 $ — $ 13,609 Costs and expenses — — 11,313 — 11,313 Income from operations — — 2,296 — 2,296 Other income (expense): Interest expense, net (303) (20) (53) — (376) Equity in earnings of subsidiaries, net of tax 1,367 1,381 — (2,748) — Other, net (1) — (97) — (98) 1,063 1,361 (150) (2,748) (474) Income before income taxes 1,063 1,361 2,146 (2,748) 1,822 Income tax expense (benefit) (119) (8) 769 — 642 Consolidated net income 1,182 1,369 1,377 (2,748) 1,180 Less: Net loss attributable to noncontrolling interests — — (2) — (2) Net income attributable to Waste Management, Inc. $ 1,182 $ 1,369 $ 1,379 $ (2,748) $ 1,182 (a) For 2018 and 2017, costs and expenses for WM and operating revenues for Non-Guarantor Subsidiaries include insurance premiums for a wholly-owned insurance captive, which are eliminated in consolidation . CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME WM Non-Guarantor WM Holdings Subsidiaries Eliminations Consolidated Years Ended December 31: 2018 Comprehensive income $ 1,933 $ 2,283 $ 2,199 $ (4,582) $ 1,833 Less: Comprehensive loss attributable to noncontrolling interests — — (2) — (2) Comprehensive income attributable to Waste Management, Inc. $ 1,933 $ 2,283 $ 2,201 $ (4,582) $ 1,835 2017 Comprehensive income $ 1,955 $ 2,469 $ 2,564 $ (4,951) $ 2,037 Less: Comprehensive loss attributable to noncontrolling interests — — — — — Comprehensive income attributable to Waste Management, Inc. $ 1,955 $ 2,469 $ 2,564 $ (4,951) $ 2,037 2016 Comprehensive income $ 1,189 $ 1,369 $ 1,417 $ (2,748) $ 1,227 Less: Comprehensive loss attributable to noncontrolling interests — — (2) — (2) Comprehensive income attributable to Waste Management, Inc. $ 1,189 $ 1,369 $ 1,419 $ (2,748) $ 1,229 CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS WM Non-Guarantor WM(a) Holdings(a) Subsidiaries(a) Eliminations Consolidated Years Ended December 31: 2018 Cash flows provided by (used in): Operating activities $ — $ — $ 3,570 $ — $ 3,570 Investing activities — — (2,169) — (2,169) Financing activities — — (1,508) — (1,508) Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents — — (3) — (3) Intercompany activity — — — — — Increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents — — (110) — (110) Cash, cash equivalents and restricted cash and cash equivalents at beginning of period — — 293 — 293 Cash, cash equivalents and restricted cash and cash equivalents at end of period $ — $ — $ 183 $ — $ 183 2017 Cash flows provided by (used in): Operating activities $ — $ — $ 3,180 $ — $ 3,180 Investing activities — — (1,620) — (1,620) Financing activities — — (1,361) — (1,361) Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents — — — — — Intercompany activity — — — — — Increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents — — 199 — 199 Cash, cash equivalents and restricted cash and cash equivalents at beginning of period — — 94 — 94 Cash, cash equivalents and restricted cash and cash equivalents at end of period $ — $ — $ 293 $ — $ 293 2016 Cash flows provided by (used in): Operating activities $ — $ — $ 3,003 $ — $ 3,003 Investing activities — — (1,929) — (1,929) Financing activities — — (1,084) — (1,084) Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents — — — — — Intercompany activity — — — — — Increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents — — (10) — (10) Cash, cash equivalents and restricted cash and cash equivalents at beginning of period — — 104 — 104 Cash, cash equivalents and restricted cash and cash equivalents at end of period $ — $ — $ 94 $ — $ 94 (a)

Subsequent Event

Subsequent Event	12 Months Ended
	Dec. 31, 2018
Subsequent Event
Subsequent Event	22. Subsequent Event On January 31, 2019, we received Hart Scott Rodino antitrust clearance to proceed with the acquisition of landfill assets in West Texas related to our Solid Waste business. This transaction is expected to close in March 2019.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
Summary of Significant Accounting Policies
Adoption of New Accounting Standards and New Accounting Standards Pending Adoption	Adoption of New Accounting Standards Revenue Recognition — In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09 associated with revenue recognition. On January 1, 2018, we adopted ASU 2014-09 using the modified retrospective approach for all ongoing customer contracts. Our results of operations for the reported periods after January 1, 2018 are presented under this amended guidance, while prior period amounts are not adjusted and continue to be reported in accordance with historical accounting guidance. The impact of adopting the amended guidance primarily relates to (i) the deferral of certain sales incentives, which previously were expensed as incurred, but under the new guidance are capitalized as other assets and amortized to selling, general and administrative expenses over the expected life of the customer relationship and (ii) the recognition of certain consideration payable to our customers as a reduction in operating revenues, which under historical guidance was recorded as operating expenses. We recognized a net $80 million increase to our retained earnings as of January 1, 2018 for the cumulative impact of adopting the amended guidance associated with the capitalization of sales incentives as contract acquisition costs consisting of a $108 million asset and a related $28 million deferred tax liability. There were no material impacts on our consolidated financial statements, which include these changes, as a result of our adoption of this amended guidance. For contracts with an effective term greater than one year, we applied the standard’s practical expedient that permits the exclusion of unsatisfied performance obligations as our right to consideration corresponds directly to the value provided to the customer for services completed to date and all future variable consideration is allocated to wholly unsatisfied performance obligations. We also applied the standard’s optional exemption for performance obligations related to contracts that have an original expected duration of one year or less. See Note 3 for additional information and disclosures related to this amended guidance. Financial Instruments — In January 2016, the FASB issued ASU 2016‑01 associated with the recognition and measurement of financial assets and liabilities with further clarifications made in February 2018 with the issuance of ASU 2018-03. The amended guidance requires certain equity investments that are not consolidated and not accounted for under the equity method to be measured at fair value with changes in fair value recognized in net income rather than as a component of accumulated other comprehensive income (loss). It further states that an entity may choose to measure equity investments that do not have readily determinable fair values using a quantitative approach, or measurement alternative, which is equal to its cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. The Company adopted this amended guidance on January 1, 2018 using a prospective transition approach, which did not have an impact on our consolidated financial statements. We concluded that all equity investments within the scope of ASU 2016-01, which primarily relate to equity securities previously accounted for under the cost method, do not have readily determinable fair values. Accordingly, the value of these investments beginning January 1, 2018 has been measured using a quantitative approach, or the measurement alternative, as noted above. See Note 3 for additional information and disclosures related to this amended guidance. Statement of Cash Flows — In August 2016, the FASB issued ASU 2016‑15 associated with the classification of certain cash receipts and cash payments in the statement of cash flows. In November 2016, the FASB issued ASU 2016‑18 associated with the presentation of restricted cash and cash equivalents in the statement of cash flows. The objective of the amended guidance was to reduce existing diversity in practice. This amended guidance was retrospectively adopted on January 1, 2018 and required the following disclosures and changes to the presentation of our financial statements: · Cash, cash equivalents and restricted cash and cash equivalents reported on the Consolidated Statements of Cash Flows now includes restricted cash and cash equivalents of $65 million, $62 million and $271 million as of December 31, 2015, 2016 and 2017, respectively, in restricted trust and escrow accounts and other current assets in our Consolidated Balance Sheets as well as previously reported cash and cash equivalents. · Cash payments made within 120 days of the acquisition date of a business combination to settle a contingent consideration liability are classified as cash outflows from investing activities. Thereafter, cash payments up to the amount of the contingent consideration liability recognized at the acquisition date (including measurement period adjustments) are classified as cash outflows from financing activities and any excess is classified as cash outflows from operating activities. The adoption of this amended guidance did not have a material impact on our Consolidated Statements of Cash Flows. Our restricted cash and cash equivalents generally consist of funds deposited into specific accounts for purposes of funding insurance claims and demonstrating our ability to meet our landfill final capping, closure, post-closure and environmental remediation obligations. Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income — In February 2018, the FASB issued ASU 2018-02 associated with the reclassification of certain tax effects from accumulated other comprehensive income (loss). This amended guidance allows a reclassification from accumulated other comprehensive income (loss) to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act (the “Act”) which was signed into law on December 22, 2017. We early adopted this amended guidance on January 1, 2018, and as a result, elected to reclassify $5 million of stranded tax effects from accumulated other comprehensive income (loss) to retained earnings using a specific identification approach. See Note 12 for additional disclosures related to this amended guidance. Income Taxes — In March 2018, the FASB issued ASU 2018-05 associated with the accounting and disclosures around the enactment of the Act and the Securities and Exchange Commission’s Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act (“SAB 118”), which the Company has adopted. See Note 8 for the disclosures related to this amended guidance. New Accounting Standards Pending Adoption Financial Instrument Credit Losses — In June 2016, the FASB issued ASU 2016‑13 associated with the measurement of credit losses on financial instruments. The amended guidance replaces the current incurred loss impairment methodology of recognizing credit losses when a loss is probable, with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to assess credit loss estimates. The amended guidance is effective for the Company on January 1, 2020. We are assessing the provisions of this amended guidance and evaluating the impact on our consolidated financial statements. Leases — In February 2016, the FASB issued ASU 2016‑02 associated with lease accounting. There have been further amendments, including practical expedients, with the issuance of ASU 2018-01 in January 2018, ASU 2018-11 in July 2018 and ASU 2018-20 in December 2018. The amended guidance requires the recognition of lease assets and lease liabilities on the balance sheet for those leases with terms in excess of 12 months and currently classified as operating leases. Disclosure of key information about leasing arrangements will also be required. We elected the optional transition method which allows entities to continue to apply historical accounting guidance in the comparative periods presented in the year of adoption. At transition, lessees and lessors may elect to apply a package of practical expedients permitting entities not to reassess: (i) whether any expired or existing contracts are or contain leases; (ii) lease classification for any expired or existing leases and (iii) whether initial direct costs for any expired or existing leases qualify for capitalization under the amended guidance. These practical expedients must be elected as a package and consistently applied. We have elected to apply the package of practical expedients upon adoption. We identified our leases or other contracts impacted by the new standard and are currently in the process of (i) finalizing our implementation of a software solution to manage and account for leases under the new standard and (ii) updating our business processes and related policies, systems and controls to support recognition and disclosure under the new standard. Upon adoption of the amended guidance, we expect to recognize right-of-use assets and related liabilities of approximately $300 million to $350 million for our contracts which contain an operating lease. We currently do not expect the amended guidance to have any other material impacts on our consolidated financial statements.
Reclassifications	Reclassifications When necessary, reclassifications have been made to our prior period financial information to conform to the current year presentation and are not material to our consolidated financial statements.
Principles of Consolidation	Principles of Consolidation The accompanying Consolidated Financial Statements include the accounts of WM, its wholly-owned and majority-owned subsidiaries and certain variable interest entities for which we have determined that we are the primary beneficiary. All material intercompany balances and transactions have been eliminated. Investments in unconsolidated entities are accounted for under the appropriate method of accounting.
Estimates and Assumptions	Estimates and Assumptions 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, long-lived asset impairments and reserves associated with our insured and self-insured claims. Each of these items is discussed in additional detail below. Actual results could differ materially from the estimates and assumptions that we use in the preparation of our financial statements.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash in excess of current operating requirements is invested in short-term interest-bearing instruments with maturities of three months or less at the date of purchase and is stated at cost, which approximates market value.
Concentrations of Credit Risk	Concentrations of Credit Risk Financial instruments that potentially subject us to concentrations of credit risk consist primarily of cash and cash equivalents, investments held within our restricted trust and escrow accounts, and accounts receivable. We make efforts to control our exposure to credit risk associated with these instruments by (i) placing our assets and other financial interests with a diverse group of credit-worthy financial institutions; (ii) holding high-quality financial instruments while limiting investments in any one instrument and (iii) maintaining strict policies over credit extension that include credit evaluations, credit limits and monitoring procedures, although generally we do not have collateral requirements for credit extensions. We also control our exposure associated with trade receivables by discontinuing service, to the extent allowable, to non-paying customers. However, our overall credit risk associated with trade receivables is limited due to the large number and diversity of customers we serve. As of December 31, 2018 and 2017, no single customer represented greater than 5% of total accounts receivable.
Accounts and Other Receivables	Accounts and Other Receivables Our receivables, which are recorded when billed, when services are performed or when cash is advanced, are claims against third parties that will generally be settled in cash. The carrying value of our receivables, net of the allowance for doubtful accounts, represents the estimated net realizable value. We estimate our allowance for doubtful accounts based on historical collection trends; type of customer, such as municipal or commercial; the age of outstanding receivables and existing economic conditions. If events or changes in circumstances indicate that specific receivable balances may be impaired, further consideration is given to the collectability of those balances and the allowance is adjusted accordingly. The activity within our allowance for doubtful accounts was not material for the reported periods. Past-due receivable balances are written off when our internal collection efforts have been unsuccessful. Also, we recognize interest income on long-term interest-bearing notes receivable as the interest accrues under the terms of the notes. We no longer accrue interest once the notes are deemed uncollectible. Other receivables, as of December 31, 2018 and 2017, include receivables related to income tax payments in excess of our current income tax obligations of $284 million and $504 million, respectively.
Parts and Supplies	Parts and Supplies Parts and supplies consist primarily of spare parts, fuel, tires, lubricants and processed recycling materials. Our parts and supplies are stated at the lower of cost, using the average cost method, or market.
Landfill Accounting	Landfill Accounting Cost Basis of Landfill Assets — We capitalize various costs that we incur to make a landfill ready to accept waste. These costs generally include expenditures for land (including the landfill footprint and required landfill buffer property); permitting; excavation; liner material and installation; landfill leachate collection systems; landfill gas collection systems; environmental monitoring equipment for groundwater and landfill gas; and directly related engineering, capitalized interest, on-site road construction and other capital infrastructure costs. The cost basis of our landfill assets also includes asset retirement costs, which represent estimates of future costs associated with landfill final capping, closure and post-closure activities. These costs are discussed below. Final Capping, Closure and Post-Closure Costs — Following is a description of our asset retirement activities and our related accounting: · Final Capping — Involves the installation of flexible membrane liners and geosynthetic clay liners, drainage and compacted soil layers and topsoil over areas of a landfill where total airspace capacity has been consumed. Final capping asset retirement obligations are recorded on a units-of-consumption basis as airspace is consumed related to the specific final capping event with a corresponding increase in the landfill asset. Each final capping event is accounted for as a discrete obligation and recorded as an asset and a liability based on estimates of the discounted cash flows and capacity associated with each final capping event. · Closure — Includes the construction of the final portion of methane gas collection systems (when required), demobilization and routine maintenance costs. These are costs incurred after the site ceases to accept waste, but before the landfill is certified as closed by the applicable state regulatory agency. These costs are recorded as an asset retirement obligation as airspace is consumed over the life of the landfill with a corresponding increase in the landfill asset. Closure obligations are recorded over the life of the landfill based on estimates of the discounted cash flows associated with performing closure activities. · Post-Closure — Involves the maintenance and monitoring of a landfill site that has been certified closed by the applicable regulatory agency. Generally, we are required to maintain and monitor landfill sites for a 30-year period. These maintenance and monitoring costs are recorded as an asset retirement obligation as airspace is consumed over the life of the landfill with a corresponding increase in the landfill asset. Post-closure obligations are recorded over the life of the landfill based on estimates of the discounted cash flows associated with performing post-closure activities. We develop our estimates of these obligations using input from our operations personnel, engineers and accountants. Our estimates are based on our interpretation of current requirements and proposed regulatory changes and are intended to approximate fair value. Absent quoted market prices, the estimate of fair value is based on the best available information, including the results of present value techniques. In many cases, we contract with third parties to fulfill our obligations for final capping, closure and post-closure. We use historical experience, professional engineering judgment and quoted or actual prices paid for similar work to determine the fair value of these obligations. We are required to recognize these obligations at market prices whether we plan to contract with third parties or perform the work ourselves. In those instances where we perform the work with internal resources, the incremental profit margin realized is recognized as a component of operating income when the work is completed. Once we have determined final capping, closure and post-closure costs, we inflate those costs to the expected time of payment and discount those expected future costs back to present value. During the years ended December 31, 2018, 2017 and 2016, we inflated these costs in current dollars to the expected time of payment using an inflation rate of 2.5%. We discounted these costs to present value using the credit-adjusted, risk-free rate effective at the time an obligation is incurred, consistent with the expected cash flow approach. Any changes in expectations that result in an upward revision to the estimated cash flows are treated as a new liability and discounted at the current rate while downward revisions are discounted at the historical weighted average rate of the recorded obligation. As a result, the credit-adjusted, risk-free discount rate used to calculate the present value of an obligation is specific to each individual asset retirement obligation. The weighted average rate applicable to our long-term asset retirement obligations as of December 31, 2018 was approximately 5.50%. We record the estimated fair value of final capping, closure and post-closure liabilities for our landfills based on the capacity consumed through the current period. The fair value of final capping obligations is developed based on our estimates of the airspace consumed to date for each final capping event and the expected timing of each final capping event. The fair value of closure and post-closure obligations is developed based on our estimates of the airspace consumed to date for the entire landfill and the expected timing of each closure and post-closure activity. Because these obligations are measured at estimated fair value using present value techniques, changes in the estimated cost or timing of future final capping, closure and post-closure activities could result in a material change in these liabilities, related assets and results of operations. We assess the appropriateness of the estimates used to develop our recorded balances annually, or more often if significant facts change. Changes in inflation rates or the estimated costs, timing or extent of future final capping, closure and post-closure activities typically result in both (i) a current adjustment to the recorded liability and landfill asset and (ii) a change in liability and asset amounts to be recorded prospectively over either the remaining capacity of the related discrete final capping event or the remaining permitted and expansion airspace (as defined below) of the landfill. Any changes related to the capitalized and future cost of the landfill assets are then recognized in accordance with our amortization policy, which would generally result in amortization expense being recognized prospectively over the remaining capacity of the final capping event or the remaining permitted and expansion airspace of the landfill, as appropriate. Changes in such estimates associated with airspace that has been fully utilized result in an adjustment to the recorded liability and landfill assets with an immediate corresponding adjustment to landfill airspace amortization expense. Interest accretion on final capping, closure and post-closure liabilities is recorded using the effective interest method and is recorded as final capping, closure and post-closure expense, which is included in operating expenses within our Consolidated Statements of Operations. Amortization of Landfill Assets — The amortizable basis of a landfill includes (i) amounts previously expended and capitalized; (ii) capitalized landfill final capping, closure and post-closure costs; (iii) projections of future purchase and development costs required to develop the landfill site to its remaining permitted and expansion capacity and (iv) projected asset retirement costs related to landfill final capping, closure and post-closure activities. Amortization is recorded on a units-of-consumption basis, applying expense as a rate per ton. The rate per ton is calculated by dividing each component of the amortizable basis of a landfill by the number of tons needed to fill the corresponding asset’s airspace. For landfills that we do not own, but operate through lease or other contractual agreements, the rate per ton is calculated based on expected capacity to be utilized over the lesser of the contractual term of the underlying agreement or the life of the landfill. We apply the following guidelines in determining a landfill’s remaining permitted and expansion airspace: · Remaining Permitted Airspace — Our engineers, in consultation with third-party engineering consultants and surveyors, are responsible for determining remaining permitted airspace at our landfills. The remaining permitted airspace is determined by an annual survey, which is used to compare the existing landfill topography to the expected final landfill topography. · Expansion Airspace — We also include currently unpermitted expansion airspace in our estimate of remaining permitted and expansion airspace in certain circumstances. First, to include airspace associated with an expansion effort, we must generally expect the initial expansion permit application to be submitted within one year and the final expansion permit to be received within five years. Second, we must believe that obtaining the expansion permit is likely, considering the following criteria: · Personnel are actively working on the expansion of an existing landfill, including efforts to obtain land use and local, state or provincial approvals; · We have a legal right to use or obtain land to be included in the expansion plan; · There are no significant known technical, legal, community, business, or political restrictions or similar issues that could negatively affect the success of such expansion; and · Financial analysis has been completed based on conceptual design, and the results demonstrate that the expansion meets Company criteria for investment. For unpermitted airspace to be initially included in our estimate of remaining permitted and expansion airspace, the expansion effort must meet all the criteria listed above. These criteria are evaluated by our field-based engineers, accountants, managers and others to identify potential obstacles to obtaining the permits. Once the unpermitted airspace is included, our policy provides that airspace may continue to be included in remaining permitted and expansion airspace even if certain of these criteria are no longer met as long as we continue to believe we will ultimately obtain the permit, based on the facts and circumstances of a specific landfill. In these circumstances, continued inclusion must be approved through a landfill-specific review process that includes approval by our Chief Financial Officer and a review by the Audit Committee of our Board of Directors on a quarterly basis. Of the 15 landfill sites with expansions included as of December 31, 2018, two landfills required the Chief Financial Officer to approve the inclusion of the unpermitted airspace because the permit application process did not meet the one- or five-year requirements. When we include the expansion airspace in our calculations of remaining permitted and expansion airspace, we also include the projected costs for development, as well as the projected asset retirement costs related to final capping, closure and post-closure of the expansion in the amortization basis of the landfill. Once the remaining permitted and expansion airspace is determined in cubic yards, an airspace utilization factor (“AUF”) is established to calculate the remaining permitted and expansion capacity in tons. The AUF is established using the measured density obtained from previous annual surveys and is then adjusted to account for future settlement. The amount of settlement that is forecasted will take into account several site-specific factors including current and projected mix of waste type, initial and projected waste density, estimated number of years of life remaining, depth of underlying waste, anticipated access to moisture through precipitation or recirculation of landfill leachate and operating practices. In addition, the initial selection of the AUF is subject to a subsequent multi-level review by our engineering group and the AUF used is reviewed on a periodic basis and revised as necessary. Our historical experience generally indicates that the impact of settlement at a landfill is greater later in the life of the landfill when the waste placed at the landfill approaches its highest point under the permit requirements. After determining the costs and remaining permitted and expansion capacity at each of our landfills, we determine the per ton rates that will be expensed as waste is received and deposited at the landfill by dividing the costs by the corresponding number of tons. We calculate per ton amortization rates for each landfill for assets associated with each final capping event, for assets related to closure and post-closure activities and for all other costs capitalized or to be capitalized in the future. These rates per ton are updated annually, or more often, as significant facts change. It is possible that actual results, including the amount of costs incurred, the timing of final capping, closure and post-closure activities, our airspace utilization or the success of our expansion efforts could ultimately turn out to be significantly different from our estimates and assumptions. To the extent that such estimates, or related assumptions, prove to be significantly different than actual results, lower profitability may be experienced due to higher amortization rates or higher expenses; or higher profitability may result if the opposite occurs. Most significantly, if it is determined that expansion capacity should no longer be considered in calculating the recoverability of a landfill asset, we may be required to recognize an asset impairment or incur significantly higher amortization expense. If at any time management makes the decision to abandon the expansion effort, the capitalized costs related to the expansion effort are expensed immediately.
Environmental Remediation Liabilities	Environmental Remediation Liabilities A significant portion of our operating costs and capital expenditures could be characterized as costs of environmental protection. The nature of our operations, particularly with respect to the construction, operation and maintenance of our landfills, subjects us to an array of laws and regulations relating to the protection of the environment. Under current laws and regulations, we may have liabilities for environmental damage caused by our operations, or for damage caused by conditions that existed before we acquired a site. In addition to remediation activity required by state or local authorities, such liabilities include potentially responsible party (“PRP”) investigations. The costs associated with these liabilities can include settlements, certain legal and consultant fees, as well as incremental internal and external costs directly associated with site investigation and clean up. Where it is probable that a liability has been incurred, we estimate costs required to remediate sites based on site-specific facts and circumstances. We routinely review and evaluate sites that require remediation, considering whether we were an owner, operator, transporter, or generator at the site, the amount and type of waste hauled to the site and the number of years we were associated with the site. Next, we review the same type of information with respect to other named and unnamed PRPs. Estimates of the costs for the likely remedy are then either developed using our internal resources or by third-party environmental engineers or other service providers. Internally developed estimates are based on: · Management’s judgment and experience in remediating our own and unrelated parties’ sites; · Information available from regulatory agencies as to costs of remediation; · The number, financial resources and relative degree of responsibility of other PRPs who may be liable for remediation of a specific site; and · The typical allocation of costs among PRPs, unless the actual allocation has been determined. 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 environmental impact investigation. In these cases, we use the amount within the range that is 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 $140 million higher than the $237 million recorded in the Consolidated Balance Sheet as of December 31, 2018. 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 our balance sheet and income from operations. These adjustments could be material in any given period. Where we believe that both the amount of a particular environmental remediation liability and the timing of the payments are fixed or reliably determinable, we inflate the cost in current dollars (by 2.5% as of December 31, 2018 and 2017) until the expected time of payment and discount the cost to present value using a risk-free discount rate, which is based on the rate for U.S. Treasury bonds with a term approximating the weighted average period until settlement of the underlying obligation. We determine the risk-free discount rate and the inflation rate on an annual basis unless interim changes would materially impact our results of operations. For remedial liabilities that have been discounted, we include interest accretion, based on the effective interest method, in operating expenses in our Consolidated Statements of Operations. The following table summarizes the impacts of revisions in the risk-free discount rate applied to our environmental remediation liabilities and recovery assets for the years ended December 31 (in millions) and the risk-free discount rate applied as of December 31: 2018 2017 2016 Decrease in operating expenses $ (2) $ — $ (2) Risk-free discount rate applied to environmental remediation liabilities and recovery assets 2.75 % 2.5 % 2.5 % The portion of our recorded environmental remediation liabilities that were not subject to inflation or discounting, as the amounts and timing of payments are not fixed or reliably determinable, was $35 million and $47 million as of December 31, 2018 and 2017, respectively. Had we not inflated and discounted any portion of our environmental remediation liability, the amount recorded would have increased $3 million as of December 31, 2018 and remained the same as of December 31, 2017.
Property and Equipment (exclusive of landfills)	Property and Equipment (Exclusive of Landfills, Discussed Above) We record property and equipment at cost. Expenditures for major additions and improvements are capitalized and maintenance activities are expensed as incurred. We depreciate property and equipment over the estimated useful life of the asset using the straight-line method. We assume no salvage value for our depreciable property and equipment. When property and equipment are retired, sold or otherwise disposed of, the cost and accumulated depreciation are removed from our accounts and any resulting gain or loss is included in results of operations as an offset or increase to operating expense for the period. The estimated useful lives for significant property and equipment categories are as follows (in years): Useful Lives Vehicles — excluding rail haul cars 3 to 10 Vehicles — rail haul cars 10 to 30 Machinery and equipment — including containers 3 to 30 Buildings and improvements 5 to 40 Furniture, fixtures and office equipment 3 to 10 We include capitalized costs associated with developing or obtaining internal-use software within furniture, fixtures and office equipment. These costs include direct external costs of materials and services used in developing or obtaining the software and internal costs for employees directly associated with the software development project.
Leases	Leases We lease property and equipment in the ordinary course of our business. Our most significant lease obligations are for property and equipment specific to our industry, including real property operated as a landfill or transfer station. Our leases have varying terms. Some may include renewal or purchase options, escalation clauses, restrictions, penalties or other obligations that we consider in determining minimum lease payments. The leases are classified as either operating leases or capital leases, as appropriate. See Note 2 for information related to the pending adoption of ASU 2016-02. Operating Leases (Excluding Landfill Leases Discussed Below) — The majority of our leases are operating leases. This classification generally can be attributed to either (i) relatively low fixed minimum lease payments as a result of real property lease obligations that vary based on the volume of waste we receive or process or (ii) minimum lease terms that are much shorter than the assets’ economic useful lives. Management expects that in the normal course of business our operating leases will be renewed, replaced by other leases, or replaced with fixed asset expenditures. Our rent expense during each of the last three years and our future minimum operating lease payments for each of the next five years for which we are contractually obligated as of December 31, 2018 are disclosed in Note 10. Capital Leases (Excluding Landfill Leases Discussed Below) — Assets under capital leases are capitalized using interest rates determined at the inception of each lease and are amortized over either the useful life of the asset or the lease term, as appropriate, on a straight-line basis. The present value of the related lease payments is recorded as a debt obligation. Our future minimum annual capital lease payments are included in our future debt obligations as disclosed in Note 7. Landfill Leases — From an operating perspective, landfills that we lease are similar to landfills we own because generally we will operate the landfill for the life of the operating permit. The most significant portion of our rental obligations for landfill leases is contingent upon operating factors such as disposal volumes and often there are no contractual minimum rental obligations. Contingent rental obligations are expensed as incurred. For landfill capital leases that provide for minimum contractual rental obligations, we record the present value of the minimum obligation as part of the landfill asset, which is amortized on a units-of-consumption basis over the shorter of the lease term or the life of the landfill.
Acquisitions	Acquisitions We generally recognize assets acquired and liabilities assumed in business combinations, including contingent assets and liabilities, based on fair value estimates as of the date of acquisition. Contingent Consideration — In certain acquisitions, we agree to pay additional amounts to sellers contingent upon achievement by the acquired businesses of certain negotiated goals, such as targeted revenue levels, targeted disposal volumes or the issuance of permits for expanded landfill airspace. We have recognized liabilities for these contingent obligations based on their estimated fair value as of the date of acquisition with any differences between the acquisition-date fair value and the ultimate settlement of the obligations being recognized as an adjustment to income from operations. Acquired Assets and Assumed Liabilities — Assets and liabilities arising from contingencies such as pre-acquisition environmental matters and litigation are recognized at their acquisition-date fair value when their respective fair values can be determined. If the fair values of such contingencies cannot be determined, they are recognized as of the acquisition date if the contingencies are probable and an amount can be reasonably estimated. Acquisition-date fair value estimates are revised as necessary if, and when, additional information regarding these contingencies becomes available to further define and quantify assets acquired and liabilities assumed. Subsequent to finalization of purchase accounting, these revisions are accounted for as adjustments to income from operations. All acquisition-related transaction costs are expensed as incurred.
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Goodwill is the excess of our purchase cost over the fair value of the net assets of acquired businesses. We do not amortize goodwill, but as discussed in the Long-Lived Asset Impairments section below, we assess our goodwill for impairment at least annually. Other intangible assets consist primarily of customer and supplier relationships, covenants not-to-compete, licenses, permits (other than landfill permits, as all landfill-related intangible assets are combined with landfill tangible assets and amortized using our landfill amortization policy), and other contracts. Other intangible assets are recorded at fair value on the acquisition date and are generally amortized using either a 150% declining balance approach or a straight-line basis as we determine appropriate. Customer and supplier relationships are typically amortized over a term of ten years. Covenants not-to-compete are amortized over the term of the non-compete covenant, which is generally two to five years. Licenses, permits and other contracts are amortized over the definitive terms of the related agreements. If the underlying agreement does not contain definitive terms and the useful life is determined to be indefinite, the asset is not amortized.
Long-Lived Asset Impairments	Long-Lived Asset Impairments We assess our long-lived assets for impairment as required under the applicable accounting standards. If necessary, impairments are recorded in (gain) loss from divestitures, asset impairments and unusual items, net in our Consolidated Statement of Operations. Property and Equipment, Including Landfills and Definite-Lived Intangible Assets — We monitor the carrying value of our long-lived assets for potential impairment on an ongoing basis and test the recoverability of such assets generally using significant unobservable (“Level 3”) inputs whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. These events or changes in circumstances, including management decisions pertaining to such assets, are referred to as impairment indicators. If an impairment indicator occurs, we perform a test of recoverability by comparing the carrying value of the asset or asset group to its undiscounted expected future cash flows. If cash flows cannot be separately and independently identified for a single asset, we will determine whether an impairment has occurred for the group of assets for which we can identify the projected cash flows. If the carrying values are in excess of undiscounted expected future cash flows, we measure any impairment by comparing the fair value of the asset or asset group to its carrying value and the difference is recorded in the period that the impairment indicator occurs. Fair value is generally determined by considering (i) internally developed discounted projected cash flow analysis of the asset or asset group; (ii) actual third-party valuations and/or (iii) information available regarding the current market for similar assets. Estimating future cash flows requires significant judgment and projections may vary from the cash flows eventually realized, which could impact our ability to accurately assess whether an asset has been impaired. The assessment of impairment indicators and the recoverability of our capitalized costs associated with landfills and related expansion projects require significant judgment due to the unique nature of the waste industry, the highly regulated permitting process and the sensitive estimates involved. During the review of a landfill expansion application, a regulator may initially deny the expansion application although the expansion permit is ultimately granted. In addition, management may periodically divert waste from one landfill to another to conserve remaining permitted landfill airspace, or a landfill may be required to cease accepting waste, prior to receipt of the expansion permit. However, such events occur in the ordinary course of business in the waste industry and do not necessarily result in impairment of our landfill assets because, after consideration of all facts, such events may not affect our belief that we will ultimately obtain the expansion permit. As a result, our tests of recoverability, which generally make use of a probability-weighted cash flow estimation approach, may indicate that no impairment loss should be recorded. Indefinite-Lived Intangible Assets, Including Goodwill — At least annually, and more frequently if warranted, we assess the indefinite-lived intangible assets including the goodwill of our reporting units for impairment using Level 3 inputs. Beginning in 2018, we first performed a qualitative assessment to determine if it was more likely than not that the fair value of a reporting unit was less than its carrying value. If the assessment indicated a possible impairment, we completed a quantitative review, comparing the estimated fair value of a reporting unit to its carrying amount, including goodwill. An impairment charge was recognized if the asset’s estimated fair value was less than its carrying amount. Fair value is typically estimated using an income approach. However, when appropriate, we may also use a market approach. The income approach is based on the long-term projected future cash flows of the reporting units. We discount the estimated cash flows to present value using a weighted average cost of capital that considers factors such as market assumptions, the timing of the cash flows and the risks inherent in those cash flows. We believe that this approach is appropriate because it provides a fair value estimate based upon the reporting units’ expected long-term performance considering the economic and market conditions that generally affect our business. The market approach estimates fair value by measuring the aggregate market value of publicly-traded companies with similar characteristics to our business as a multiple of their reported earnings. We then apply that multiple to the reporting units’ earnings to estimate their fair values. We believe that this approach may also be appropriate in certain circumstances because it provides a fair value estimate using valuation inputs from entities with operations and economic characteristics comparable to our reporting units. Fair value is computed using several factors, including projected future operating results, economic projections, anticipated future cash flows, comparable marketplace data and the cost of capital. There are inherent uncertainties related to these factors and to our judgment in applying them in our analysis. However, we believe our methodology for estimating the fair value of our reporting units is reasonable. Refer to Note 11 for information related to impairments recognized during the reported periods.
Insured and Self-Insured Claims	Insured and Self-Insured Claims We have retained a significant portion of the risks related to our health and welfare, general liability, automobile liability and workers’ compensation claims programs. The exposure for unpaid claims and associated expenses, including incurred but not reported losses, generally is estimated with the assistance of external actuaries and by factoring in pending claims and historical trends and data. The gross estimated liability associated with settling unpaid claims is included in accrued liabilities in our Consolidated Balance Sheets if expected to be settled within one year; otherwise, it is included in other long-term liabilities. Estimated insurance recoveries related to recorded liabilities are reflected as other current receivables or other long-term assets in our Consolidated Balance Sheets when we believe that the receipt of such amounts is probable. In December 2017, we elected to use a wholly-owned insurance captive to insure the deductibles for our general liability, automobile liability and workers’ compensation claims programs. We continue to maintain conventional insurance policies with third-party insurers. In addition to certain business and operating benefits of having a wholly-owned insurance captive, we expect to receive certain cash flow benefits related to the timing of tax deductions related to these claims. WM will pay an annual premium to the insurance captive, typically in the first quarter of the year, for the estimated losses based on the external actuarial analysis. These premiums are held in a restricted escrow account to be used solely for paying insurance claims, resulting in a transfer of risk from WM to the insurance captive and are allocated between current and long-term assets depending on timing on the use of funds.
Restricted Trust and Escrow Accounts	Restricted Trust and Escrow Accounts Our restricted trust and escrow accounts consist principally of funds deposited for purposes of funding insurance claims and settling landfill final capping, closure, post-closure and environmental remediation obligations. These funds are allocated between cash, money market funds and available-for-sale securities depending on the estimated timing and purpose of the use of funds. In December 2017, we elected to use a wholly-owned insurance captive to insure the deductibles for certain claims programs, as discussed above in Insured and Self-Insured Claims , and the premiums paid were directly deposited into a restricted escrow account to be used solely for paying insurance claims. At several of our landfills, we provide financial assurance by depositing cash into restricted trust or escrow accounts for purposes of settling final capping, closure, post-closure and environmental remediation obligations. Balances maintained in these restricted trust and escrow accounts will fluctuate based on (i) changes in statutory requirements; (ii) future deposits made to comply with contractual arrangements; (iii) the ongoing use of funds; (iv) acquisitions or divestitures and (v) changes in the fair value of the financial instruments held in the restricted trust or escrow accounts. See Note 18 for additional discussion related to restricted trust and escrow accounts for final capping, closure, post-closure or environmental remediation obligations.
Investments in Unconsolidated Entities	Investments in Unconsolidated Entities Investments in unconsolidated entities over which the Company has significant influence are accounted for under the equity method of accounting. Prior to 2018, investments in entities in which the Company does not have the ability to exert significant influence over the investees’ operating and financing activities were accounted for under the cost method of accounting. On January 1, 2018, we adopted ASU 2016-01, which resulted in certain equity investments previously accounted for under the cost method to be measured using a quantitative approach as we concluded these investments did not have readily determinable fair values. The quantitative approach, or measurement alternative, is equal to its cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. See Note 2 for additional information related to this amended guidance. The fair value of our redeemable preferred stock has been measured based on third-party investors’ recent or pending transactions in these securities, which are considered the best evidence of fair value. The following table summarizes our investments in unconsolidated entities as of December 31 (in millions): 2018 2017 Equity method investments $ 257 $ 127 Investments without readily determinable fair values 83 87 Redeemable preferred stock 66 55 Investments in unconsolidated entities $ 406 $ 269 We monitor and assess the carrying value of our investments throughout the year for potential impairment and write them down to their fair value when other-than-temporary declines exist. Fair value is generally based on (i) other third-party investors’ recent transactions in the securities; (ii) other information available regarding the current market for similar assets; (iii) a market or income approach, as deemed appropriate and/or (iv) a quantitative approach, or measurement alternative, as noted above. Impairments of our investments are recorded in equity in net losses of unconsolidated entities or other, net in the Consolidated Statements of Operations in accordance with appropriate accounting guidance. Refer to Notes 11 and 16 for information related to impairments and other adjustments recognized during the reported periods.
Foreign Currency	Foreign Currency We have operations in Canada, as well as certain support functions in India. Local currencies generally are considered the functional currencies of our operations and investments outside the U.S. The assets and liabilities of our foreign operations are translated to U.S. dollars using the exchange rate as of the balance sheet date. Revenues and expenses are translated to U.S. dollars using the average exchange rate during the period. The resulting translation difference is reflected as a component of other comprehensive income (loss).
Cross Currency Swaps	Cross-Currency Swaps From time to time, we will use derivative financial instruments to manage our risk associated with fluctuations in foreign currency exchange rates. Through March 2016, we used cross-currency swaps to hedge our exposure to fluctuations in exchange rates for anticipated intercompany cash transactions between Waste Management Holdings, Inc., a wholly-owned subsidiary (“WM Holdings”), and its Canadian subsidiaries. Our cross-currency swaps had been designated as cash flow hedges for accounting purposes, which resulted in the unrealized changes in the fair value of the derivative instruments being recorded in accumulated other comprehensive income (loss) within our Consolidated Balance Sheets. The associated balance in accumulated other comprehensive income (loss) was reclassified to earnings as the hedged cash flows affected earnings. The financial statement impacts of our cross-currency swaps are discussed in Note 7.
Revenue Recognition	Revenue Recognition Our Solid Waste operating revenues are primarily generated from fees charged for our collection, transfer, disposal, and recycling and resource recovery services, and from sales of commodities by our recycling and landfill gas-to-energy operations. Revenues from our collection operations are influenced by factors such as collection frequency, type of collection equipment furnished, type and volume or weight of the waste collected, distance to the disposal facility or material recovery facility and our disposal costs. Revenues from our landfill operations consist of tipping fees, which are generally based on the type and weight or volume of waste being disposed of at our disposal facilities. Fees charged at transfer stations are generally based on the weight or volume of waste deposited, taking into account our cost of loading, transporting and disposing of the solid waste at a disposal site. Recycling revenues generally consist of tipping fees and the sale of recycling commodities to third parties. The fees we charge for our services generally include our environmental fee, fuel surcharge and regulatory recovery fee, which are intended to pass through to customers direct and indirect costs incurred. We also provide additional services that are not managed through our Solid Waste business, including operations managed by both our Strategic Business Solutions (“WMSBS”) and Energy and Environmental Services (“EES”) organizations, recycling brokerage services, landfill gas-to-energy services and certain other expanded service offerings and solutions. Our revenue from sources other than customer contracts primarily relates to lease revenue associated with compactors and balers. Revenue from these leasing arrangements was not material and represented approximately 1% of total revenue for each of the reported periods. We generally recognize revenue as services are performed or products are delivered. For example, revenue typically is recognized as waste is collected, tons are received at our landfills or transfer stations, or recycling commodities are collected or delivered as product. We bill for certain services prior to performance. Such services include, among others, certain commercial and residential contracts and equipment rentals. These advance billings are included in deferred revenues and recognized as revenue in the period service is provided. See Note 19 for additional information related to revenue by reportable segment and major lines of business. Deferred Revenues We record deferred revenues when cash payments are received or due in advance of our performance and classify them as current since they are earned within a year and there are no significant financing components. Substantially all our deferred revenues during the reported periods are realized as revenues within one to three months, when the related services are performed. Contract Acquisition Costs Our incremental direct costs of obtaining a contract, which consist primarily of sales incentives, are generally deferred and amortized to selling, general and administrative expense over the estimated life of the relevant customer relationship, ranging from 5 to 13 years. Contract acquisition costs that are paid to the customer are deferred and amortized as a reduction in revenue over the contract life. Our contract acquisition costs are classified as current or noncurrent based on the timing of when we expect to recognize amortization and are included in other assets in our Consolidated Balance Sheet. As of December 31, 2018, we had $145 million of deferred contract costs, of which $109 million was related to deferred sales incentives. During the year ended December 31, 2018, we amortized $22 million of sales incentives to selling, general and administrative expense and $35 million of other contract acquisition costs as a reduction in revenue. Long-Term Contracts Approximately 25% of our total revenue is derived from contracts with a remaining term greater than one year. The consideration for these contracts is primarily variable in nature. The variable elements of these contracts primarily include the number of homes and businesses served and annual rate changes based on consumer price index, fuel prices or other operating costs. Such contracts are generally within our collection, recycling and other lines of business and have a weighted average remaining contract life of approximately four years. We do not disclose the value of unsatisfied performance obligations for these contracts as our right to consideration corresponds directly to the value provided to the customer for services completed to date and all future variable consideration is allocated to wholly unsatisfied performance obligations.
Capitalized Interest	Capitalized Interest We capitalize interest on certain projects under development, including landfill expansion projects, certain assets under construction, including operating landfills and landfill gas-to-energy projects and internal-use software. During 2018, 2017 and 2016, total interest costs were $400 million, $383 million and $394 million, respectively, of which $16 million, $15 million and $9 million was capitalized in 2018, 2017 and 2016, respectively.
Income Taxes	Income Taxes The Company is subject to income tax in the U.S. and Canada. Current tax obligations associated with our income tax expense are reflected in the accompanying Consolidated Balance Sheets as a component of accrued liabilities and our deferred tax obligations are reflected in deferred income taxes. Deferred income taxes are based on the difference between the financial reporting and tax basis of assets and liabilities. Deferred income tax expense represents the change during the reporting period in the deferred tax assets and liabilities, net of the effect of acquisitions and dispositions. Deferred tax assets include tax loss and credit carry-forwards and are reduced by a valuation allowance if, based on available evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. We establish reserves for uncertain tax positions when, despite our belief that our tax return positions are fully supportable, we believe that certain positions may be challenged and potentially disallowed. When facts and circumstances change, we adjust these reserves through our income tax expense. Should interest and penalties be assessed by taxing authorities on any underpayment of income tax, such amounts would be accrued and classified as a component of our income tax expense in our Consolidated Statements of Operations. See Note 8 for discussion of the impacts of enactment of the Act which was signed into law on December 22, 2017 and is generally effective for tax years beginning January 1, 2018.
Contingent Liabilities	Contingent Liabilities We estimate the amount of potential exposure we may have with respect to claims, assessments and litigation in accordance with authoritative guidance on accounting for contingencies. We are party to pending or threatened legal proceedings covering a wide range of matters in various jurisdictions. It is difficult to predict the outcome of litigation, as it is subject to many uncertainties. Additionally, it is not always possible for management to make a meaningful estimate of the potential loss or range of loss associated with such contingencies. See Note 10 for discussion of our commitments and contingencies.
Supplemental Cash Flow Information	Supplemental Cash Flow Information The following table shows supplemental cash flow information for the years ended December 31 (in millions): 2018 2017 2016 Interest, net of capitalized interest $ 339 $ 380 $ 375 Income taxes 349 562 442 During 2018, we had $250 million of non-cash financing activities from our recent federal low-income housing investment discussed in Note 8 and new capital leases. During 2017 and 2016, we did not have any significant non-cash investing and financing activities. Non-cash investing and financing activities are generally excluded from the Consolidated Statements of Cash Flows.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2018
Summary of Significant Accounting Policies
Summary of the impact of revisions in risk-free discount rate	The following table summarizes the impacts of revisions in the risk-free discount rate applied to our environmental remediation liabilities and recovery assets for the years ended December 31 (in millions) and the risk-free discount rate applied as of December 31: 2018 2017 2016 Decrease in operating expenses $ (2) $ — $ (2) Risk-free discount rate applied to environmental remediation liabilities and recovery assets 2.75 % 2.5 % 2.5 %
Schedule of estimated useful lives	The estimated useful lives for significant property and equipment categories are as follows (in years): Useful Lives Vehicles — excluding rail haul cars 3 to 10 Vehicles — rail haul cars 10 to 30 Machinery and equipment — including containers 3 to 30 Buildings and improvements 5 to 40 Furniture, fixtures and office equipment 3 to 10
Summary of investments in unconsolidated entities	The following table summarizes our investments in unconsolidated entities as of December 31 (in millions): 2018 2017 Equity method investments $ 257 $ 127 Investments without readily determinable fair values 83 87 Redeemable preferred stock 66 55 Investments in unconsolidated entities $ 406 $ 269
Schedule of Supplemental Cash Flow Information	The following table shows supplemental cash flow information for the years ended December 31 (in millions): 2018 2017 2016 Interest, net of capitalized interest $ 339 $ 380 $ 375 Income taxes 349 562 442

Landfill and Environmental Re_2

Landfill and Environmental Remediation Liabilities (Tables)	12 Months Ended
	Dec. 31, 2018
Landfill and Environmental Remediation Liabilities
Liabilities for Landfill and Environmental Remediation Costs	Liabilities for landfill and environmental remediation costs as of December 31 are presented in the table below (in millions): 2018 2017 Environmental Environmental Landfill Remediation Total Landfill Remediation Total Current (in accrued liabilities) $ 143 $ 26 $ 169 $ 128 $ 28 $ 156 Long-term 1,617 211 1,828 1,547 223 1,770 $ 1,760 $ 237 $ 1,997 $ 1,675 $ 251 $ 1,926
Changes to Landfill and Environmental Remediation Liabilities	The changes to landfill and environmental remediation liabilities for the year ended December 31, 2018 are reflected in the table below (in millions): Environmental Landfill Remediation December 31, 2017 $ 1,675 $ 251 Obligations incurred and capitalized 83 — Obligations settled (108) (26) Interest accretion 95 5 Revisions in estimates and interest rate assumptions (a) (b) (3) 9 Acquisitions, divestitures and other adjustments (c) 18 (2) December 31, 2018 $ 1,760 $ 237 (a) The amount reported for our landfill liabilities includes a net decrease of $15 million primarily related to our year-end annual review of landfill final capping, closure and post-closure obligations partially offset by an increase of $12 million due to the acceleration of the expected timing of capping activities for a landfill. See Note 11 for discussion of the impairment charge related to this landfill. (b) The amount reported for our environmental remediation liabilities includes changes in cost estimates associated with environmental remediation projects resulting in an increase in the required obligation. These charges were partially offset by a decrease of $3 million in our environmental remediation liabilities due to an increase in the risk-free discount rate used to measure our liabilities from 2.5% at December 31, 2017 to 2.75% at December 31, 2018. (c) The amount reported

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and equipment as of December 31 consisted of the following (in millions): 2018 2017 Land $ 656 $ 624 Landfills 15,240 14,904 Vehicles 5,059 4,750 Machinery and equipment 2,988 2,824 Containers 2,588 2,571 Buildings and improvements 2,998 2,846 Furniture, fixtures and office equipment 677 744 30,206 29,263 Less: Accumulated depreciation of tangible property and equipment (9,107) (8,916) Less: Accumulated amortization of landfill airspace (9,157) (8,788) Property and equipment, net $ 11,942 $ 11,559
Depreciation and Amortization Expense Including Amortization Expense for Assets Recorded as Capital Leases	Depreciation and amortization expense, including amortization expense for assets recorded as capital leases, consisted of the following for the years ended December 31 (in millions): 2018 2017 2016 Depreciation of tangible property and equipment $ 838 $ 783 $ 773 Amortization of landfill airspace 538 497 428 Depreciation and amortization expense $ 1,376 $ 1,280 $ 1,201

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2018
Goodwill and Other Intangible Assets
Schedule of Other Intangible Assets	Our other intangible assets consisted of the following as of December 31 (in millions): Customer Covenants Licenses, and Supplier Not-to- Permits Relationships Compete and Other Total 2018 Intangible assets $ 949 $ 60 $ 109 $ 1,118 Less: Accumulated amortization (461) (24) (61) (546) $ 488 $ 36 $ 48 $ 572 2017 Intangible assets $ 880 $ 48 $ 124 $ 1,052 Less: Accumulated amortization (422) (21) (62) (505) $ 458 $ 27 $ 62 $ 547

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2018
Debt
Components of Debt	The following table summarizes the major components of debt as of each balance sheet date (in millions) and provides the maturities and interest rate ranges of each major category as of December 31: 2018 2017 Revolving credit facility (weighted average interest rate of 3.1% as of December 31, 2018) $ 11 $ — Commercial paper program (weighted average interest rate of 2.9% as of December 31, 2018 and 1.9% as of December 31, 2017) 990 515 Canadian term loan and revolving credit facility (weighted average effective interest rate of 2.5% as of December 31, 2017) — 113 Senior notes, maturing through 2045, interest rates ranging from 2.4% to 7.75% (weighted average interest rate of 4.3% as of December 31, 2018 and December 31, 2017) 6,222 6,222 Tax-exempt bonds, maturing through 2048, fixed and variable interest rates ranging from 1.35% to 4.3% (weighted average interest rate of 2.35% as of December 31, 2018 and 2.0% as of December 31, 2017) 2,388 2,370 Capital leases and other, maturing through 2040, interest rates up to 12% 467 327 Debt issuance costs, discounts and other (52) (56) 10,026 9,491 Current portion of long-term debt 432 739 $ 9,594 $ 8,752

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2018
Income Taxes
Provision for Income Taxes	Our income tax expense consisted of the following for the years ended December 31 (in millions): 2018 2017 2016 Current: Federal $ 256 $ 400 $ 443 State 132 56 88 Foreign 40 37 38 428 493 569 Deferred: Federal 59 (316) 57 State (32) 62 17 Foreign (2) 3 (1) 25 (251) 73 Income tax expense $ 453 $ 242 $ 642
U.S. Federal Statutory Income Tax Rate Reconciled to Effective Rate	The U.S. federal statutory income tax rate is reconciled to the effective income tax rate for the years ended December 31 as follows: 2018 2017 2016 Income tax expense at U.S. federal statutory rate 21.00 % 35.00 % 35.00 % State and local income taxes, net of federal income tax benefit 4.41 3.25 3.31 Impacts of enactment of tax reform (0.51) (24.14) — Federal tax credits (2.44) (2.31) (3.08) Taxing authority audit settlements and other tax adjustments (3.85) 0.03 (0.53) Tax impact of equity-based compensation transactions (0.54) (1.45) — Tax impact of impairments 0.03 0.66 0.80 Tax rate differential on foreign income 0.43 (0.55) (0.63) Other 0.51 0.55 0.36 Effective income tax rate 19.04 % 11.04 % 35.23 %
Summary of income source	For financial reporting purposes, income before income taxes by source for the years ended December 31 was as follows (in millions): 2018 2017 2016 Domestic $ 2,235 $ 2,040 $ 1,681 Foreign 141 151 141 Income before income taxes $ 2,376 $ 2,191 $ 1,822
Components of Net Deferred Tax Assets (Liabilities)	The components of net deferred tax liabilities as of December 31 are as follows (in millions): 2018 2017 Deferred tax assets: Net operating loss, capital loss and tax credit carry-forwards $ 258 $ 259 Landfill and environmental remediation liabilities 143 121 Miscellaneous and other reserves, net 175 96 Subtotal 576 476 Valuation allowance (261) (264) Deferred tax liabilities: Property and equipment (752) (595) Goodwill and other intangibles (854) (865) Net deferred tax liabilities $ (1,291) $ (1,248)
Summary of unrecognized tax benefits	A reconciliation of the beginning and ending amount of gross unrecognized tax benefits, including accrued interest, is as follows (in millions): 2018 2017 2016 Balance as of January 1 $ 109 $ 82 $ 71 Additions based on tax positions related to the current year 6 19 19 Additions based on tax positions of prior years 12 11 4 Accrued interest 2 4 2 Reductions for tax positions of prior years — — (7) Settlements (88) (1) — Lapse of statute of limitations (5) (6) (7) Balance as of December 31 $ 36 $ 109 $ 82

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2018
Employee Benefit Plans
Individually Significant Multiemployer Pension Plans	The following table outlines our participation in Multiemployer Pension Plans considered to be individually significant (dollar amounts in millions): Expiration Date Pension Protection Act Company of Collective EIN/Pension Plan Reported Status(a) FIP/RP Contributions(d) Bargaining Pension Fund Number 2018 2017 Status(b)(c) 2018 2017 2016 Agreement(s) Automotive Industries Pension Plan EIN: 94-1133245; Critical and Declining Critical and Declining Implemented $ 1 $ 1 $ 1 9/30/2021 Suburban Teamsters of Northern Illinois Pension Plan EIN: 36-6155778; Endangered Endangered Implemented 3 3 3 Various dates through 3/31/2023 Western Conference of Teamsters Pension Plan EIN: 91-6145047; Not Endangered or Critical Not Endangered or Critical Not 29 27 25 Various dates through 10/20/2023 Western Pennsylvania Teamsters and Employers Pension Plan EIN: 25-6029946; Critical and Declining Critical Implemented — 1 1 (f) $ 33 $ 32 $ 30 Contributions to other Multiemployer Pension Plans 14 15 17 Total contributions to Multiemployer Pension Plans (e) $ 47 $ 47 $ 47 (a) The most recent Pension Protection Act zone status available in 2018 and 2017 is for the plan’s year-end as of December 31, 2017 and 2016, respectively. The zone status is based on information that we received from the plan and is certified by the plan’s actuary. As defined in the Pension Protection Act of 2006, among other factors, plans reported as critical are generally less than 65% funded and plans reported as endangered are generally less than 80% funded. Under the Multiemployer Pension Reform Act of 2014, a plan is generally in critical and declining status if it (i) is certified to be in critical status pursuant to the Pension Protection Act of 2006 and (ii) is projected to be insolvent within the next 15 years or, in certain circumstances, 20 years. As of the date the financial statements were issued, Forms 5500 were not available for the plan years ended in 2018. (b) The “FIP/RP Status” column indicates plans for which a Funding Improvement Plan (“FIP”) or a Rehabilitation Plan (“RP”) has been implemented. (c) A Multiemployer Pension Plan that has been certified as endangered, seriously endangered or critical may begin to levy a statutory surcharge on contribution rates. Once authorized, the surcharge is at the rate of 5% for the first 12 months and 10% for any periods thereafter. Contributing employers, however, may eliminate the surcharge by entering into a collective bargaining agreement that meets the requirements of the applicable FIP or RP. (d) Of the Multiemployer Pension Plans considered to be individually significant, the Company was listed in the Form 5500 of the Suburban Teamsters of Northern Illinois Pension Plan as providing more than 5% of the total contributions for plan years ending December 31, 2017 and 2016. (e) (f)

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2018
Commitments and Contingencies.
Changes to Gross Insurance Liabilities	The changes to our insurance reserves for the years ended December 31 are summarized below (in millions): 2018(a) 2017 Balance as of January 1 $ 582 $ 588 Self-insurance expense 142 142 Cash paid and other (157) (148) Balance as of December 31 $ 567 $ 582 Current portion as of December 31 $ 137 $ 107 Long-term portion as of December 31 $ 430 $ 475 (a) Based on current estimates, we anticipate that most of our insurance reserves will be settled in cash over the next six years.

Asset Impairments and Unusual_2

Asset Impairments and Unusual Items (Tables)	12 Months Ended
	Dec. 31, 2018
Asset Impairments and Unusual Items
Summary of the major components of (gain) loss from divestitures, asset impairments and unusual items, net	The following table summarizes the major components of (gain) loss from divestitures, asset impairments and unusual items, net for the years ended December 31 (in millions): 2018 2017 2016 (Gain) loss from divestitures $ (96) $ (38) $ 9 Asset impairments 38 41 59 Other — (19) 44 $ (58) $ (16) $ 112

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	12 Months Ended
	Dec. 31, 2018
Accumulated Other Comprehensive Income (Loss)
Components of Accumulated Other Comprehensive Income (Loss), net of tax	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): Foreign Post- Available- Currency Retirement Derivative for-Sale Translation Benefit Instruments Securities Adjustments Obligations Total Balance, December 31, 2015 $ (52) $ 8 $ (75) $ (8) $ (127) Other comprehensive income (loss) before reclassifications, net of tax expense (benefit) of $(4), $3, $0 and $0, respectively (7) 5 26 — 24 Amounts reclassified from accumulated other comprehensive (income) loss, net of tax (expense) benefit of $12, $0, $0 and $1, respectively 19 — 2 2 23 Net current period other comprehensive income (loss) 12 5 28 2 47 Balance, December 31, 2016 $ (40) $ 13 $ (47) $ (6) $ (80) Other comprehensive income (loss) before reclassifications, net of tax expense (benefit) of $0, $2, $0 and $1, respectively — 3 76 3 82 Amounts reclassified from accumulated other comprehensive (income) loss, net of tax (expense) benefit of $5, $(1), $0 and $0, respectively 7 (1) — — 6 Net current period other comprehensive income (loss) 7 2 76 3 88 Balance, December 31, 2017 $ (33) $ 15 $ 29 $ (3) $ 8 Other comprehensive income (loss) before reclassifications, net of tax expense (benefit) of $0, $2, $0 and $1, respectively — 5 (105) 2 (98) Amounts reclassified from accumulated other comprehensive (income) loss, net of tax (expense) benefit of $3, $0, $0 and $0, respectively 8 — — — 8 Net current period other comprehensive income (loss) 8 5 (105) 2 (90) Adoption of new accounting standard (a) (7) 3 — (1) (5) Balance, December 31, 2018 $ (32) $ 23 $ (76) $ (2) $ (87) As of January 1, 2018, we adopted ASU 2018‑02 and reclassified stranded tax effects to retained earnings. See Note 2 for further discussion of ASU 2018-02.
Reclassification of Component of Accumulated Other Comprehensive Income (Loss) Associated with Cash Flow Hedges	The significant amounts reclassified out of each component of accumulated other comprehensive income (loss) associated with our previously terminated cash flow hedges for the years ended December 31 are as follows (in millions, with amounts in parentheses representing debits to the statement of operations classification): Statement of 2018 2017 2016 Operations Classification Forward-starting interest rate swaps $ (10) $ (11) $ (10) Interest expense, net Treasury rate locks (1) (1) (1) Interest expense, net Foreign currency derivatives — — (20) Other, net (11) (12) (31) Total before tax 3 5 12 Tax (expense) benefit Total reclassifications for the period $ (8) $ (7) $ (19) Net of tax

Capital Stock, Dividends and _2

Capital Stock, Dividends and Common Stock Repurchase Program (Tables)	12 Months Ended
	Dec. 31, 2018
Capital Stock, Dividends and Common Stock Repurchase Program
Summary of share repurchases under common stock repurchase program	2018(a) 2017(b) 2016(c) Shares repurchased (in thousands) 11,673 10,058 11,241 Weighted average price per share $ 86.35 $ 77.67 $ 60.49 Total repurchases (in millions) $ 1,008 $ 750 $ 725 (a) During 2018, we executed and completed four ASR agreements to repurchase $850 million of our common stock and we received 9.8 million shares in connection with these ASR agreements. During 2018, we repurchased an additional 1.9 million shares of our common stock in open market transactions in compliance with Rule 10b5-1 and Rule 10b-18 of the Exchange Act for $158 million, inclusive of per-share commissions, which includes $4 million paid in 2019. (b) During 2017, we executed and completed two ASR agreements to repurchase $750 million of our common stock. Our “Shares repurchased” includes the 0.4 million shares related to the ASR agreement executed in November 2016, discussed further below. (c) During 2016, we executed four ASR agreements to repurchase $725 million of our common stock. The ASR agreement entered into in November 2016 was for the repurchase of $225 million of our common stock and was completed in February 2017. We received a total of 3.2 million shares based on a final weighted average price per share during the repurchase period of $69.43.

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2018
Equity-Based Compensation
Summary of RSUs	Restricted Stock Units — A summary of our RSUs is presented in the table below (units in thousands): Weighted Average Per Share Units Fair Value Unvested as of January 1, 2018 444 $ 61.20 Granted 116 $ 85.52 Vested (154) $ 55.03 Forfeited (14) $ 69.19 Unvested as of December 31, 2018 392 $ 70.52
Summary of PSUs	A summary of our PSUs, at 100% of the targeted amount, is presented in the table below (units in thousands): Weighted Average Per Share Units Fair Value Unvested as of January 1, 2018 1,299 $ 84.78 Granted 371 $ 98.45 Vested (459) $ 82.22 Forfeited (47) $ 87.59 Unvested as of December 31, 2018 1,164 $ 90.17
Summary of Stock Options	A summary of our stock options is presented in the table below (options in thousands): Weighted Average Per Share Options Exercise Price Outstanding as of January 1, 2018 4,885 $ 53.46 Granted 779 $ 85.34 Exercised (1,125) $ 50.64 Forfeited or expired (98) $ 67.53 Outstanding as of December 31, 2018 (a) 4,441 $ 59.46 Exercisable as of December 31, 2018 (b) 2,269 $ 46.86 (a) Stock options outstanding as of December 31, 2018 have a weighted average remaining contractual term of 6.4 years and an aggregate intrinsic value of $131 million based on the market value of our common stock on December 31, 2018. (b) Stock options exercisable as of December 31, 2018 have an aggregate intrinsic value of $96 million based on the market value of our common stock on December 31, 2018.
Summary of Exercisable Stock Options	Stock options exercisable as of December 31, 2018 were as follows (options in thousands): Weighted Average Per Share Weighted Average Range of Exercise Prices Options Exercise Price Remaining Years $33.49-$50.00 1,288 $ 37.89 3.5 $50.01-$70.00 797 $ 55.20 6.5 $70.01-$85.34 184 $ 73.40 8.2 $33.49-$85.34 2,269 $ 46.86 4.9
Weighted Average Assumptions Used to Value Employee Stock Options Granted	The following table presents the weighted average assumptions used to value employee stock options granted during the years ended December 31 under the Black-Scholes valuation model: 2018 2017 2016 Expected option life 4.3 years 3.5 years 4.7 years Expected volatility 17.9 % 15.3 % 18.4 % Expected dividend yield 2.2 % 2.3 % 2.9 % Risk-free interest rate 2.6 % 1.7 % 1.3 %

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2018
Earnings Per Share
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 for the years ended December 31 (shares in millions): 2018 2017 2016 Number of common shares outstanding at end of period 424.0 433.3 439.3 Effect of using weighted average common shares outstanding 5.1 5.5 4.2 Weighted average basic common shares outstanding 429.1 438.8 443.5 Dilutive effect of equity-based compensation awards and other contingently issuable shares (a) 3.1 3.1 3.0 Weighted average diluted common shares outstanding 432.2 441.9 446.5 Potentially issuable shares 7.4 8.1 9.8 Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding 1.5 1.9 1.0 (a)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2018
Fair Value Measurements
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 as of December 31 (in millions): 2018 2017 Fair Value Measurements Using: Quoted prices in active markets (Level 1): Money market funds $ 70 $ 225 70 225 Significant other observable inputs (Level 2): Available-for-sale securities 288 96 288 96 Significant unobservable inputs (Level 3): Redeemable preferred stock 66 55 66 55 Total Assets $ 424 $ 376

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	12 Months Ended
	Dec. 31, 2018
Acquisitions and Divestitures
Schedule of Fair Value Assigned to Other Intangible Assets	The following table presents the fair value assigned to other intangible assets for the SWS acquisition (amounts in millions, except for amortization periods): SWS Weighted Average Amortization Periods Amount (in Years) Customer and supplier relationships $ 160 10.0 Covenants not-to-compete 18 5.0 Trade name 4 10.0 Total other intangible assets subject to amortization $ 182 9.5

Segment and Related Informati_2

Segment and Related Information (Tables)	12 Months Ended
	Dec. 31, 2018
Segment and Related Information
Reportable Segments	Summarized financial information concerning our reportable segments as of December 31 and for the years then ended is shown in the following table (in millions): Income Gross Intercompany Net from Depreciation Capital Total Operating Operating Operating Operations and Expenditures Assets Revenues Revenues(c) Revenues (d)(e) Amortization (f) (g)(h) Years Ended December 31: 2018 Solid Waste: Tier 1 $ 5,868 $ (1,063) $ 4,805 $ 1,642 $ 510 $ 595 $ 6,958 Tier 2 2,622 (487) 2,135 542 232 257 3,761 Tier 3 7,047 (1,365) 5,682 1,211 614 547 9,119 Solid Waste 15,537 (2,915) 12,622 3,395 1,356 1,399 19,838 Other (a) 2,487 (195) 2,292 (66) 91 72 1,571 18,024 (3,110) 14,914 3,329 1,447 1,471 21,409 Corporate and Other (b) — — — (540) 30 200 1,487 Total $ 18,024 $ (3,110) $ 14,914 $ 2,789 $ 1,477 $ 1,671 $ 22,896 2017 Solid Waste: Tier 1 $ 5,576 $ (1,002) $ 4,574 $ 1,538 $ 451 $ 603 $ 6,528 Tier 2 2,559 (443) 2,116 552 203 185 3,749 Tier 3 6,697 (1,220) 5,477 1,199 574 595 8,727 Solid Waste 14,832 (2,665) 12,167 3,289 1,228 1,383 19,004 Other (a) 2,538 (220) 2,318 (68) 103 93 1,785 17,370 (2,885) 14,485 3,221 1,331 1,476 20,789 Corporate and Other (b) — — — (585) 45 92 1,327 Total $ 17,370 $ (2,885) $ 14,485 $ 2,636 $ 1,376 $ 1,568 $ 22,116 2016 Solid Waste: Tier 1 $ 5,241 $ (911) $ 4,330 $ 1,430 $ 424 $ 452 $ 6,188 Tier 2 2,400 (404) 1,996 522 190 157 3,562 Tier 3 6,327 (1,137) 5,190 994 530 589 8,497 Solid Waste 13,968 (2,452) 11,516 2,946 1,144 1,198 18,247 Other (a) 2,278 (185) 2,093 (100) 101 104 1,489 16,246 (2,637) 13,609 2,846 1,245 1,302 19,736 Corporate and Other (b) — — — (550) 56 45 1,401 Total $ 16,246 $ (2,637) $ 13,609 $ 2,296 $ 1,301 $ 1,347 $ 21,137 (a) Our “Other” net operating revenues and “Other” income from operations include (i) our WMSBS organization; (ii) those elements of our landfill gas-to-energy operations and third-party subcontract and administration revenues managed by our EES and WM Renewable Energy organizations that are not included in the operations of our reportable segments; (iii) our recycling brokerage services and (iv) certain other expanded service offerings and solutions. In addition, our “Other” segment reflects the results of non-operating entities that provide financial assurance and self-insurance support for our Solid Waste business, net of intercompany activity. (b) Corporate operating results reflect certain costs incurred for various support services that are not allocated to our reportable segments. These support services include, among other things, treasury, legal, information technology, tax, insurance, centralized service center processes, other administrative functions and the maintenance of our closed landfills. Income from operations for “Corporate and other” also includes costs associated with our long-term incentive program and any administrative expenses or revisions to our estimated obligations associated with divested operations. (c) Intercompany operating revenues reflect each segment’s total intercompany sales, including intercompany sales within a segment and between segments. Transactions within and between segments are generally made on a basis intended to reflect the market value of the service. (d) For those items included in the determination of income from operations, the accounting policies of the segments are the same as those described in Note 3. (e) The income from operations provided by our Solid Waste business is generally indicative of the margins provided by our collection, landfill, transfer and recycling lines of business. From time to time, the operating results of our reportable segments are significantly affected by certain transactions or events that management believes are not indicative or representative of our results. Refer to Note 11 for explanations of certain transactions and events affecting our operating results. (f) Includes non-cash items. Capital expenditures are reported in our reportable segments at the time they are recorded within the segments’ property and equipment balances and, therefore, may include amounts that have been accrued but not yet paid. (g) The reconciliation of total assets reported above to total assets in the Consolidated Balance Sheets as of December 31 is as follows (in millions): 2018 2017 2016 Total assets, as reported above $ 22,896 $ 22,116 $ 21,137 Elimination of intercompany investments and advances (246) (287) (278) Total assets, per Consolidated Balance Sheet $ 22,650 $ 21,829 $ 20,859 (h) Goodwill is included within each segment’s total assets. For segment reporting purposes, our material recovery facilities are included as a component of their respective Areas and our recycling brokerage services are included as part of our “Other” operations. The following table presents changes in goodwill during the reported periods by segment (in millions): Solid Waste Tier 1 Tier 2 Tier 3 Other Total Balance, December 31, 2016 $ 2,203 $ 1,196 $ 2,661 $ 155 $ 6,215 Acquired goodwill 12 20 7 — 39 Divested goodwill — (1) — — (1) Impairments — — — (34) (34) Foreign currency translation 6 22 — — 28 Balance, December 31, 2017 $ 2,221 $ 1,237 $ 2,668 $ 121 $ 6,247 Acquired goodwill 88 17 142 1 248 Divested goodwill (6) — — (19) (25) Impairments — — — (6) (6) Foreign currency translation (7) (27) — — (34) Balance, December 31, 2018 $ 2,296 $ 1,227 $ 2,810 $ 97 $ 6,430
Reconciliation of Segment Assets to Consolidated Total	The reconciliation of total assets reported above to total assets in the Consolidated Balance Sheets as of December 31 is as follows (in millions): 2018 2017 2016 Total assets, as reported above $ 22,896 $ 22,116 $ 21,137 Elimination of intercompany investments and advances (246) (287) (278) Total assets, per Consolidated Balance Sheet $ 22,650 $ 21,829 $ 20,859
Changes in Goodwill by Reportable Segment	The following table presents changes in goodwill during the reported periods by segment (in millions): Solid Waste Tier 1 Tier 2 Tier 3 Other Total Balance, December 31, 2016 $ 2,203 $ 1,196 $ 2,661 $ 155 $ 6,215 Acquired goodwill 12 20 7 — 39 Divested goodwill — (1) — — (1) Impairments — — — (34) (34) Foreign currency translation 6 22 — — 28 Balance, December 31, 2017 $ 2,221 $ 1,237 $ 2,668 $ 121 $ 6,247 Acquired goodwill 88 17 142 1 248 Divested goodwill (6) — — (19) (25) Impairments — — — (6) (6) Foreign currency translation (7) (27) — — (34) Balance, December 31, 2018 $ 2,296 $ 1,227 $ 2,810 $ 97 $ 6,430
Summary of operating revenues mix	The mix of operating revenues from our major lines of business for the years ended December 31 are as follows (in millions): 2018 2017 2016 Commercial $ 3,972 $ 3,714 $ 3,480 Residential 2,529 2,528 2,487 Industrial 2,773 2,583 2,412 Other 450 439 423 Total collection 9,724 9,264 8,802 Landfill 3,560 3,370 3,110 Transfer 1,711 1,591 1,512 Recycling 1,293 1,432 1,221 Other (a) 1,736 1,713 1,601 Intercompany (b) (3,110) (2,885) (2,637) Total $ 14,914 $ 14,485 $ 13,609 (a) The “Other” line of business includes (i) our WMSBS organization; (ii) our landfill gas-to-energy operations; (iii) certain services within our EES organization, including our construction and remediation services and our services associated with the disposal of fly ash and (iv) certain other expanded service offerings and solutions. In addition, our “Other” line of business reflects the results of non-operating entities that provide financial assurance and self-insurance support, net of intercompany activity. (b) Intercompany revenues between lines of business are eliminated in the Consolidated Financial Statements included within this report.
Summary of net revenue by geographic area	Net operating revenues relating to operations in the U.S. and Canada for the years ended December 31 are as follows (in millions): 2018 2017 2016 U.S. $ 14,167 $ 13,768 $ 12,915 Canada 747 717 694 Total $ 14,914 $ 14,485 $ 13,609
Summary of Property and Equipment Net of Accumulated Depreciation and Amortization Relating to Operations by Geographic Location	Property and equipment, net of accumulated depreciation and amortization, relating to operations in the U.S. and Canada for the years ended December 31 are as follows (in millions): 2018 2017 2016 U.S. $ 11,044 $ 10,591 $ 10,040 Canada 898 968 910 Total $ 11,942 $ 11,559 $ 10,950

Quarterly Financial Data (Una_2

Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2018
Quarterly Financial Data
Schedule of Unaudited Quarterly Financial Data	The following table summarizes the unaudited quarterly results of operations for 2018 and 2017 (in millions, except per share amounts): First Second Third Fourth Quarter Quarter Quarter Quarter 2018 Operating revenues $ 3,511 $ 3,739 $ 3,822 $ 3,842 Income from operations 608 715 699 767 Consolidated net income 395 499 498 531 Net income attributable to Waste Management, Inc. 396 499 499 531 Basic earnings per common share 0.91 1.16 1.16 1.25 Diluted earnings per common share 0.91 1.15 1.16 1.24 2017 Operating revenues $ 3,440 $ 3,677 $ 3,716 $ 3,652 Income from operations 558 673 701 704 Consolidated net income 297 361 388 903 Net income attributable to Waste Management, Inc. 298 362 386 903 Basic earnings per common share 0.68 0.82 0.88 2.08 Diluted earnings per common share 0.67 0.81 0.87 2.06

Condensed Consolidating Finan_2

Condensed Consolidating Financial Statements (Tables)	12 Months Ended
	Dec. 31, 2018
Condensed Consolidating Financial Statements
Condensed Consolidating Balance Sheets	CONDENSED CONSOLIDATING BALANCE SHEETS December 31, 2018 WM Non-Guarantor WM Holdings Subsidiaries Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ — $ — $ 61 $ — $ 61 Other current assets 2 5 2,577 — 2,584 2 5 2,638 — 2,645 Property and equipment, net — — 11,942 — 11,942 Investments in affiliates 24,676 25,097 — (49,773) — Advances to affiliates — — 17,258 (17,258) — Other assets 8 31 8,024 — 8,063 Total assets $ 24,686 $ 25,133 $ 39,862 $ (67,031) $ 22,650 LIABILITIES AND EQUITY Current liabilities: Current portion of long-term debt $ 258 $ — $ 174 $ — $ 432 Accounts payable and other current liabilities 82 9 2,585 — 2,676 340 9 2,759 — 3,108 Long-term debt, less current portion 7,377 304 1,913 — 9,594 Due to affiliates 17,398 146 6,709 (24,253) — Other liabilities 5 — 3,667 — 3,672 Total liabilities 25,120 459 15,048 (24,253) 16,374 Equity: Stockholders’ equity 6,275 24,674 25,099 (49,773) 6,275 Advances to affiliates (6,709) — (286) 6,995 — Noncontrolling interests — — 1 — 1 (434) 24,674 24,814 (42,778) 6,276 Total liabilities and equity $ 24,686 $ 25,133 $ 39,862 $ (67,031) $ 22,650 CONDENSED CONSOLIDATING BALANCE SHEETS (Continued) December 31, 2017 WM Non-Guarantor WM Holdings Subsidiaries Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ — $ — $ 22 $ — $ 22 Other current assets 5 5 2,662 — 2,672 5 5 2,684 — 2,694 Property and equipment, net — — 11,559 — 11,559 Investments in affiliates 22,393 22,893 — (45,286) — Advances to affiliates — — 15,349 (15,349) — Other assets 9 31 7,536 — 7,576 Total assets $ 22,407 $ 22,929 $ 37,128 $ (60,635) $ 21,829 LIABILITIES AND EQUITY Current liabilities: Current portion of long-term debt $ 537 $ — $ 202 $ — $ 739 Accounts payable and other current liabilities 55 9 2,459 — 2,523 592 9 2,661 — 3,262 Long-term debt, less current portion 6,457 304 1,991 — 8,752 Due to affiliates 15,404 224 6,073 (21,701) — Other liabilities 8 — 3,765 — 3,773 Total liabilities 22,461 537 14,490 (21,701) 15,787 Equity: Stockholders’ equity 6,019 22,392 22,894 (45,286) 6,019 Advances to affiliates (6,073) — (279) 6,352 — Noncontrolling interests — — 23 — 23 (54) 22,392 22,638 (38,934) 6,042 Total liabilities and equity $ 22,407 $ 22,929 $ 37,128 $ (60,635) $ 21,829
Condensed Consolidating Statements of Operations	CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS WM Non-Guarantor WM Holdings Subsidiaries Eliminations Consolidated Years Ended December 31: 2018 Operating revenues (a) $ — $ — $ 15,090 $ (176) $ 14,914 Costs and expenses (a) 176 — 12,125 (176) 12,125 Income from operations (176) — 2,965 — 2,789 Other income (expense): Interest expense, net (312) (20) (42) — (374) Equity in earnings of subsidiaries, net of tax 2,284 2,298 — (4,582) — Other, net — — (39) — (39) 1,972 2,278 (81) (4,582) (413) Income before income taxes 1,796 2,278 2,884 (4,582) 2,376 Income tax expense (benefit) (129) (5) 587 — 453 Consolidated net income 1,925 2,283 2,297 (4,582) 1,923 Less: Net loss attributable to noncontrolling interests — — (2) — (2) Net income attributable to Waste Management, Inc. $ 1,925 $ 2,283 $ 2,299 $ (4,582) $ 1,925 2017 Operating revenues (a) $ — $ — $ 15,040 $ (555) $ 14,485 Costs and expenses (a) 555 — 11,849 (555) 11,849 Income from operations (555) — 3,191 — 2,636 Other income (expense): Interest expense, net (299) (20) (44) — (363) Equity in earnings of subsidiaries, net of tax 2,469 2,482 — (4,951) — Other, net (4) (1) (77) — (82) 2,166 2,461 (121) (4,951) (445) Income before income taxes 1,611 2,461 3,070 (4,951) 2,191 Income tax expense (benefit) (338) (8) 588 — 242 Consolidated net income 1,949 2,469 2,482 (4,951) 1,949 Less: Net loss attributable to noncontrolling interests — — — — — Net income attributable to Waste Management, Inc. $ 1,949 $ 2,469 $ 2,482 $ (4,951) $ 1,949 2016 Operating revenues $ — $ — $ 13,609 $ — $ 13,609 Costs and expenses — — 11,313 — 11,313 Income from operations — — 2,296 — 2,296 Other income (expense): Interest expense, net (303) (20) (53) — (376) Equity in earnings of subsidiaries, net of tax 1,367 1,381 — (2,748) — Other, net (1) — (97) — (98) 1,063 1,361 (150) (2,748) (474) Income before income taxes 1,063 1,361 2,146 (2,748) 1,822 Income tax expense (benefit) (119) (8) 769 — 642 Consolidated net income 1,182 1,369 1,377 (2,748) 1,180 Less: Net loss attributable to noncontrolling interests — — (2) — (2) Net income attributable to Waste Management, Inc. $ 1,182 $ 1,369 $ 1,379 $ (2,748) $ 1,182 (a) For 2018 and 2017, costs and expenses for WM and operating revenues for Non-Guarantor Subsidiaries include insurance premiums for a wholly-owned insurance captive, which are eliminated in consolidation .
Condensed Consolidating Statements of Comprehensive Income	CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME WM Non-Guarantor WM Holdings Subsidiaries Eliminations Consolidated Years Ended December 31: 2018 Comprehensive income $ 1,933 $ 2,283 $ 2,199 $ (4,582) $ 1,833 Less: Comprehensive loss attributable to noncontrolling interests — — (2) — (2) Comprehensive income attributable to Waste Management, Inc. $ 1,933 $ 2,283 $ 2,201 $ (4,582) $ 1,835 2017 Comprehensive income $ 1,955 $ 2,469 $ 2,564 $ (4,951) $ 2,037 Less: Comprehensive loss attributable to noncontrolling interests — — — — — Comprehensive income attributable to Waste Management, Inc. $ 1,955 $ 2,469 $ 2,564 $ (4,951) $ 2,037 2016 Comprehensive income $ 1,189 $ 1,369 $ 1,417 $ (2,748) $ 1,227 Less: Comprehensive loss attributable to noncontrolling interests — — (2) — (2) Comprehensive income attributable to Waste Management, Inc. $ 1,189 $ 1,369 $ 1,419 $ (2,748) $ 1,229
Condensed Consolidating Statements of Cash Flows	CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS WM Non-Guarantor WM(a) Holdings(a) Subsidiaries(a) Eliminations Consolidated Years Ended December 31: 2018 Cash flows provided by (used in): Operating activities $ — $ — $ 3,570 $ — $ 3,570 Investing activities — — (2,169) — (2,169) Financing activities — — (1,508) — (1,508) Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents — — (3) — (3) Intercompany activity — — — — — Increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents — — (110) — (110) Cash, cash equivalents and restricted cash and cash equivalents at beginning of period — — 293 — 293 Cash, cash equivalents and restricted cash and cash equivalents at end of period $ — $ — $ 183 $ — $ 183 2017 Cash flows provided by (used in): Operating activities $ — $ — $ 3,180 $ — $ 3,180 Investing activities — — (1,620) — (1,620) Financing activities — — (1,361) — (1,361) Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents — — — — — Intercompany activity — — — — — Increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents — — 199 — 199 Cash, cash equivalents and restricted cash and cash equivalents at beginning of period — — 94 — 94 Cash, cash equivalents and restricted cash and cash equivalents at end of period $ — $ — $ 293 $ — $ 293 2016 Cash flows provided by (used in): Operating activities $ — $ — $ 3,003 $ — $ 3,003 Investing activities — — (1,929) — (1,929) Financing activities — — (1,084) — (1,084) Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents — — — — — Intercompany activity — — — — — Increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents — — (10) — (10) Cash, cash equivalents and restricted cash and cash equivalents at beginning of period — — 104 — 104 Cash, cash equivalents and restricted cash and cash equivalents at end of period $ — $ — $ 94 $ — $ 94 (a)

Business (Detail)

Business (Detail)	12 Months Ended
	Dec. 31, 2018area
Solid Waste [Member]
Segment Reporting Information [Line Items]
Number of areas	17

New Accounting Standards and _2

New Accounting Standards and Reclassifications - Revenue (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Retained earnings	$ 9,797		$ 8,588
Contract acquisition costs	145
Deferred income taxes	$ 1,291		$ 1,248
Revenue, Practical Expedient, Remaining Performance Obligation [true/false]	true
Accounting Standards Update 2014-09 [Member] | Impact of adoption [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Retained earnings		$ 80
Contract acquisition costs		108
Deferred income taxes		$ 28

New Accounting Standards and _3

New Accounting Standards and Reclassifications (Detail) - USD ($) $ in Millions	Jan. 01, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
New ASU
Restricted trust and escrow accounts		$ 296	$ 249
Accounting Standards Update 2016-18 [Member]
New ASU
Restricted cash and cash equivalents			$ 271
Restricted trust and escrow accounts				$ 62	$ 65
Accounting Standards Update 2018-02 [Member]
New ASU
Adoption of new accounting standard	$ 5
Accounting Standards Update 2016-02 [Member] | Scenario Forecast Adjustment [Member] | Minimum [Member]
New ASU
Right-of-use assets		300
Operating lease, liability		300
Accounting Standards Update 2016-02 [Member] | Scenario Forecast Adjustment [Member] | Maximum [Member]
New ASU
Right-of-use assets		350
Operating lease, liability		$ 350

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Landfill (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)site	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Significant accounting policies
Receivables related to income tax payments in excess of our provision for income taxes	$ 284	$ 504
Environmental remediation reasonably possible additional losses high estimate	140
Environmental remediation liabilities	237
Environmental remediation liabilities not subject to inflation or discounting	35	47
Increase of environmental remediation liability	$ 3	$ 0
Landfill [Member]
Significant accounting policies
Required period to maintain and monitor landfill sites	30 years
Inflation rate	2.50%	2.50%	2.50%
Credit adjusted, risk free discount rate applicable to long-term asset retirement obligations	5.50%
Number of landfills sites with expansion | site	15
Number of expansion landfill sites require CFO approval inclusion of unpermitted airspace | site	2
Decrease in operating expenses	$ (2)		$ (2)
Risk-free discount rate applied to environmental remediation liabilities and recovery assets	2.75%	2.50%	2.50%
Landfill [Member] | Minimum [Member]
Significant accounting policies
Permit application process period requirement	1 year
Landfill [Member] | Maximum [Member]
Significant accounting policies
Permit application process period requirement	5 years
Accounts Receivable Net [Member] | Concentration of Credit Risk [Member] | Maximum [Member]
Significant accounting policies
Concentration of risk threshold (as a percent)	5.00%	5.00%

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Property and Equipment (Detail)	12 Months Ended
	Dec. 31, 2018
Minimum [Member] | Vehicles - Excluding Rail Haul Cars [Member]
Property, Plant and Equipment
Useful Life	3 years
Minimum [Member] | Vehicles - Rail Haul Cars [Member]
Property, Plant and Equipment
Useful Life	10 years
Minimum [Member] | Machinery and Equipment [Member]
Property, Plant and Equipment
Useful Life	3 years
Minimum [Member] | Building and Improvements [Member]
Property, Plant and Equipment
Useful Life	5 years
Minimum [Member] | Furniture, Fixtures and Office Equipment [Member]
Property, Plant and Equipment
Useful Life	3 years
Maximum [Member] | Vehicles - Excluding Rail Haul Cars [Member]
Property, Plant and Equipment
Useful Life	10 years
Maximum [Member] | Vehicles - Rail Haul Cars [Member]
Property, Plant and Equipment
Useful Life	30 years
Maximum [Member] | Machinery and Equipment [Member]
Property, Plant and Equipment
Useful Life	30 years
Maximum [Member] | Building and Improvements [Member]
Property, Plant and Equipment
Useful Life	40 years
Maximum [Member] | Furniture, Fixtures and Office Equipment [Member]
Property, Plant and Equipment
Useful Life	10 years

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Intangibles (Detail)	12 Months Ended
	Dec. 31, 2018
Customer and Supplier Relationships [Member]
Significant accounting policies
Amortizable period of the intangible assets	10 years
Covenants not-to-compete [Member] | Minimum [Member]
Significant accounting policies
Amortizable period of the intangible assets	2 years
Covenants not-to-compete [Member] | Maximum [Member]
Significant accounting policies
Amortizable period of the intangible assets	5 years

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Investments (Detail) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Summary of Significant Accounting Policies
Equity method investments	$ 257	$ 127
Investments without readily determinable fair values	83	87
Redeemable preferred stock	66	55
Investments in unconsolidated entities	$ 406	$ 269

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Revenue Recognition (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Contract Acquisition Costs
Revenue other than customer contracts (as a percent)	1.00%	1.00%
Deferred contract costs	$ 145
Long-term revenue contracts (as a percent)	25.00%
Weighted average remaining contract term	4 years
Deferred Sales Incentives [Member]
Contract Acquisition Costs
Deferred contract costs	$ 109
Selling, General and Administrative Expenses [Member]
Contract Acquisition Costs
Deferred contract costs amortization	22
Reduction to Sales [Member]
Contract Acquisition Costs
Deferred contract costs amortization	$ 35
Minimum [Member]
Contract Acquisition Costs
Deferred revenue recognition period	1 month
Contract amortization period	5 years
Maximum [Member]
Contract Acquisition Costs
Deferred revenue recognition period	3 months
Contract amortization period	13 years

Summary of Significant Accoun_9

Summary of Significant Accounting Policies - Capitalized Interest (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Summary of Significant Accounting Policies
Total interest costs	$ 400	$ 383	$ 394
Total capitalized interest costs	$ 16	$ 15	$ 9

Summary of Significant Accou_10

Summary of Significant Accounting Policies - Supplemental Cash Flow (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Summary of Significant Accounting Policies
Interest, net of capitalized interest	$ 339	$ 380	$ 375
Income taxes	349	$ 562	$ 442
Non-cash transactions of financing activities	$ 250

Landfill and Environmental Re_3

Landfill and Environmental Remediation Liabilities - Summary (Detail) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Landfill and environmental remediation liabilities
Total, Environmental Remediation	$ 237
Current (in accrued liabilities)	169	$ 156
Long-term	1,828	1,770
Total	1,997	1,926
Landfill [Member]
Landfill and environmental remediation liabilities
Current (in accrued liabilities), Landfill	143	128
Long-term, Landfill	1,617	1,547
Total, Landfill	1,760	1,675
Environmental Remediation Liabilities [Member]
Landfill and environmental remediation liabilities
Current (in accrued liabilities), Environmental Remediation	26	28
Long-term, Environmental Remediation	211	223
Total, Environmental Remediation	$ 237	$ 251

Landfill and Environmental Re_4

Landfill and Environmental Remediation Liabilities - Changes (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Landfill and environmental remediation liabilities
Interest accretion	$ 95	$ 92	$ 91
Ending balance, environmental remediation	237
Landfill [Member]
Landfill and environmental remediation liabilities
Beginning balance, landfill	1,675
Obligations incurred and capitalized	83
Obligations settled	(108)
Interest accretion	95
Revisions in estimates and interest rate assumptions	(3)
Acquisitions, divestitures and other adjustments	18
Ending balance, landfill	1,760	$ 1,675
Asset retirement obligation revision of estimate increase (decrease) related to estimated capping activities	12
Asset retirement obligation revision of estimate increase (decrease) related to annual review	$ (15)
Risk-free discount rate of the obligations	2.75%	2.50%	2.50%
Asset retirement obligation, increase (decrease) related to landfill acquisitions partially offset divestitures and other adjustments	$ 27
Environmental Remediation Liabilities [Member]
Landfill and environmental remediation liabilities
Beginning balance, environmental remediation	251
Obligations settled	(26)
Interest accretion	5
Revisions in estimates and interest rate assumptions	9
Acquisitions, divestitures and other adjustments	(2)
Ending balance, environmental remediation	$ 237	$ 251
Risk-free discount rate of the obligations	2.75%	2.50%
Increase (decrease) operating expenses due to change in discount rate	$ (3)

Landfill and Environmental Re_5

Landfill and Environmental Remediation Liabilities - Est payments (Detail) $ in Millions	Dec. 31, 2018USD ($)
Landfill and Environmental Remediation Liabilities
Anticipated payments for currently identified environmental remediation liabilities, in 2019	$ 26
Anticipated payments for currently identified environmental remediation liabilities, in 2020	19
Anticipated payments for currently identified environmental remediation liabilities, in 2021	65
Anticipated payments for currently identified environmental remediation liabilities, in 2022	37
Anticipated payments for currently identified environmental remediation liabilities, in 2023	13
Anticipated payments for currently identified environmental remediation liabilities, after 2023	$ 81

Property and Equipment - Proper

Property and Equipment - Property and Equipment (Detail) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Property, Plant and Equipment
Property and equipment , gross	$ 30,206	$ 29,263
Less accumulated depreciation and amortization	(18,264)	(17,704)
Property, Plant and Equipment, Net, Total	11,942	11,559	$ 10,950
Land [Member]
Property, Plant and Equipment
Property and equipment , gross	656	624
Landfill [Member]
Property, Plant and Equipment
Property and equipment , gross	15,240	14,904
Vehicles [Member]
Property, Plant and Equipment
Property and equipment , gross	5,059	4,750
Machinery and Equipment [Member]
Property, Plant and Equipment
Property and equipment , gross	2,988	2,824
Containers [Member]
Property, Plant and Equipment
Property and equipment , gross	2,588	2,571
Building and Improvements [Member]
Property, Plant and Equipment
Property and equipment , gross	2,998	2,846
Furniture, Fixtures and Office Equipment [Member]
Property, Plant and Equipment
Property and equipment , gross	677	744
Tangible Property and Equipment [Member]
Property, Plant and Equipment
Less accumulated depreciation and amortization	(9,107)	(8,916)
Landfill Airspace [Member]
Property, Plant and Equipment
Less accumulated depreciation and amortization	$ (9,157)	$ (8,788)

Property and Equipment - Expens

Property and Equipment - Expense (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Property, Plant and Equipment
Depreciation and amortization expense	$ 1,477	$ 1,376	$ 1,301
Tangible Property and Equipment [Member]
Property, Plant and Equipment
Depreciation and amortization expense	838	783	773
Landfill Airspace [Member]
Property, Plant and Equipment
Depreciation and amortization expense	538	497	428
Property and Equipment [Member]
Property, Plant and Equipment
Depreciation and amortization expense	$ 1,376	$ 1,280	$ 1,201

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Summary (Detail) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Intangible assets
Goodwill	$ 6,430	$ 6,247	$ 6,430	$ 6,247	$ 6,215
Increase in goodwill during the period			183
Goodwill impairment charges		34	6	34	$ 12
Intangible assets	1,118	1,052	1,118	1,052
Less: Accumulated amortization	(546)	(505)	(546)	(505)
Total	572	547	572	547
Customer and Supplier Relationships [Member]
Intangible assets
Intangible assets	949	880	949	880
Less: Accumulated amortization	(461)	(422)	(461)	(422)
Total	488	458	488	458
Non-compete Covenant [Member]
Intangible assets
Intangible assets	60	48	60	48
Less: Accumulated amortization	(24)	(21)	(24)	(21)
Total	36	27	36	27
Licenses Permits and Other [Member]
Intangible assets
Intangible assets	109	124	109	124
Less: Accumulated amortization	(61)	(62)	(61)	(62)
Total	48	$ 62	$ 48	$ 62
Lamp Tracker Reporting Unit [Member]
Intangible assets
Goodwill impairment charges	$ 6

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Goodwill and Other Intangible Assets
Intangible assets amortization	$ 101	$ 96	$ 100
Indefinite-lived intangible assets	18
Expected amortization expenses related to other intangible assets in 2019	105
Expected amortization expenses related to other intangible assets in 2020	94
Expected amortization expenses related to other intangible assets in 2021	79
Expected amortization expenses related to other intangible assets in 2022	63
Expected amortization expenses related to other intangible assets in 2023	$ 55

Debt - Components of Debt (Deta

Debt - Components of Debt (Detail) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Debt
Debt and capital lease obligations	$ 10,026	$ 9,491
Debt issuance costs, discounts and other	(52)	(56)
Current portion of long-term debt	432	739
Long-term debt, less current portion	9,594	8,752
Revolving Credit Facility [Member]
Debt
Debt and capital lease obligations	$ 11
Weighted average interest rate	3.10%
Commercial Paper Program [Member]
Debt
Debt and capital lease obligations	$ 990	$ 515
Weighted average interest rate	2.90%	1.90%
Canadian Term Loan and Revolving Credit Facility [Member]
Debt
Debt and capital lease obligations		$ 113
Weighted average interest rate		2.50%
Senior Notes, Aggregate [Member]
Debt
Debt and capital lease obligations	$ 6,222	$ 6,222
Weighted average interest rate	4.30%	4.30%
Tax Exempt Bonds [Member]
Debt
Debt and capital lease obligations	$ 2,388	$ 2,370
Current portion of long-term debt	$ 106
Weighted average interest rate	2.35%	2.00%
Capital Leases and Other [Member]
Debt
Debt and capital lease obligations	$ 467	$ 327
Current portion of long-term debt	$ 161
Minimum [Member] | Senior Notes, Aggregate [Member]
Debt
Interest rate	2.40%
Minimum [Member] | Tax Exempt Bonds [Member]
Debt
Interest rate	1.35%
Maximum [Member] | Senior Notes, Aggregate [Member]
Debt
Interest rate	7.75%
Maximum [Member] | Tax Exempt Bonds [Member]
Debt
Interest rate	4.30%
Maximum [Member] | Capital Leases and Other [Member]
Debt
Interest rate	12.00%

Debt - Classification and Utili

Debt - Classification and Utilization (Detail) $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2018CAD ($)item	Dec. 31, 2018USD ($)item	Jul. 31, 2018CAD ($)	May 31, 2018USD ($)	Dec. 31, 2017USD ($)
Debt
Debt maturing or subject to remarketing within twelve months		$ 1,900
Current portion of long-term debt		432			$ 739
Commercial Paper Program [Member]
Debt
Debt, before unamortized (discount) premium		990
Debt maturing or subject to remarketing within twelve months classified as long-term		730
Maximum capacity		2,750		$ 1,500
Debt term	397 days
Commercial paper, borrowings		990
Tax Exempt Bonds [Member]
Debt
Debt with interest rate periods that expire in the next 12 months		705
Current portion of long-term debt		106
Debt classified as long-term due to intent and ability to refinance on long-term basis		705
Variable-rate tax-exempt bonds		268
Canadian Revolving Credit Facility [Member]
Debt
Maximum capacity			$ 50
Canadian Term Loan [Member]
Debt
Maximum term credit			$ 460
Capital Leases and Other [Member]
Debt
Current portion of long-term debt		161
Revolving Credit Facility [Member]
Debt
Maximum capacity		2,750		$ 2,250
Accordion option capacity		$ 750
Number of extension periods | item	2	2
Extension term	1 year
Letters of credit outstanding		$ 587
Unused and available credit capacity		1,200
Credit Facility Revolving, Canadian [Member]
Debt
Outstanding borrowings under credit facility	$ 15	11
Maximum capacity		375
Other Letter of Credit Facilities [Member]
Debt
Letters of credit outstanding		$ 556
London Interbank Offered Rate [Member] | Revolving Credit Facility [Member] | Minimum [Member]
Debt
Spread rate	0.69%
London Interbank Offered Rate [Member] | Revolving Credit Facility [Member] | Maximum [Member]
Debt
Spread rate	1.05%

Debt - Borrowings and Repayment

Debt - Borrowings and Repayments (Detail) $ in Millions, $ in Millions	Sep. 28, 2018USD ($)	Mar. 31, 2016CAD ($)	Mar. 31, 2016USD ($)	Jun. 30, 2018USD ($)	Aug. 31, 2018CAD ($)	Aug. 31, 2018USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Debt
Net commercial paper borrowings							$ 453	$ 513
Debt repayments							499	$ 1,907	$ 2,682
Debt and capital lease principal payments in 2019							1,166
Debt and capital lease principal payments in 2020							780
Debt and capital lease principal payments in 2021							584
Debt and capital lease principal payments in 2022							622
Debt and capital lease principal payments in 2023							614
Debt and capital lease principal payments after 2023							6,382
Canadian Subsidiaries [Member]
Debt
Repayments of intercompany debt		$ 370
Revolving Credit Facility [Member]
Debt
Net line of credit proceeds (repayments)				$ 28
Commercial Paper Program [Member]
Debt
Net commercial paper borrowings							453
Canadian Term Loan [Member]
Debt
Debt repayments					$ 142	$ 109
Tax Exempt Bonds [Member]
Debt
Debt repayments							62
Debt instrument face amount							80
Debt refunded and reissued							105
Capital Leases and Other [Member]
Debt
Capital obligations							250
Net debt borrowings (repayments)							(60)
Reduced obligation in divestitures							$ 50
Capital Leases and Other [Member] | Investments Qualifying for Federal Tax Credits [Member]
Debt
Capital obligations	$ 139
Foreign Currency Derivatives [Member]
Debt
Cash received derivative termination			$ 67
Derivative termination expense									$ 8

Debt - Covenants (Detail)

Debt - Covenants (Detail) - Revolving Credit Facility [Member] $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)	May 31, 2018USD ($)
Debt
Credit Facility, aggregate capacity	$ 2,750	$ 2,250
Debt to EBITDA ratio	3.5
Threshold aggregate consideration on acquisition	$ 200
Increased leverage ratio on achievement of acquisition	4

Income Taxes - Provision for In

Income Taxes - Provision for Income Taxes (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Current:
Federal	$ 256	$ 400	$ 443
State	132	56	88
Foreign	40	37	38
Current tax total	428	493	569
Deferred:
Federal	59	(316)	57
State	(32)	62	17
Foreign	(2)	3	(1)
Deferred tax total	25	(251)	73
Income tax expense	$ 453	$ 242	$ 642

Income Taxes - Reconciliation (

Income Taxes - Reconciliation (Detail)	Jan. 01, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Taxes
Income tax expense at U.S. federal statutory rate	21.00%	21.00%	35.00%	35.00%
State and local income taxes, net of federal income tax benefit		4.41%	3.25%	3.31%
Impacts of enactment of tax reform		(0.51%)	(24.14%)
Federal tax credits		(2.44%)	(2.31%)	(3.08%)
Taxing authority audit settlements and other tax adjustments		(3.85%)	0.03%	(0.53%)
Tax impact of equity-based compensation transactions		(0.54%)	(1.45%)
Tax impact of impairments		0.03%	0.66%	0.80%
Tax rate differential on foreign income		0.43%	(0.55%)	(0.63%)
Other		0.51%	0.55%	0.36%
Effective income tax rate		19.04%	11.04%	35.23%

Income Taxes - Income Source (D

Income Taxes - Income Source (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Taxes
Domestic	$ 2,235	$ 2,040	$ 1,681
Foreign	141	151	141
Income before income taxes	$ 2,376	$ 2,191	$ 1,822

Income Taxes - Additional infor

Income Taxes - Additional information (Detail) - USD ($) $ in Millions	Sep. 28, 2018	Jan. 01, 2018	Jun. 30, 2018	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Taxes
Income tax expense at U.S. federal statutory rate		21.00%			21.00%	35.00%	35.00%
Net reduction in income tax expense due to Tax Cuts and Jobs Act					$ (12)
Remeasurement of net deferred tax assets and liabilities due to tax					(7)
Mandatory transition tax due to tax legislation					(5)
Equity in net losses of unconsolidated entities					41	$ 68	$ 44
Other federal tax credits					10	13	14
Reduction in provision for income taxes due to tax audit settlements			$ 33		$ 40	2	11
Expected time of completion of IRS audits					15 months
Increase (decrease) to accruals and related deferred taxes					$ (35)	(5)	(10)
Deferred tax adjustment					(17)
Reduction in provision for income taxes due to state net operating losses and credits					22	12	10
Excess tax benefits associated with equity-based compensation				$ 32	17	37
Increase (decrease) in provision for income taxes due to impairments					(1)	(15)	(15)
Investments Qualifying for Federal Tax Credits [Member]
Income Taxes
Total consideration	$ 157
Payment to acquire investment	18
Equity in net losses of unconsolidated entities					30	30	31
Income tax (expense) benefit, including tax credits, from equity method investment					57	$ 51	$ 55
Capital Leases and Other [Member]
Income Taxes
Capital obligations					$ 250
Capital Leases and Other [Member] | Investments Qualifying for Federal Tax Credits [Member]
Income Taxes
Capital obligations	$ 139

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets (Liabilities) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Deferred tax assets:
Net operating loss, capital loss and tax credit carry-forwards	$ 258	$ 259
Landfill and environmental remediation liabilities	143	121
Miscellaneous and other reserves, net	175	96
Subtotal	576	476
Valuation allowance	(261)	(264)
Deferred tax liabilities:
Property and equipment	(752)	(595)
Goodwill and other intangibles	(854)	(865)
Net deferred tax liabilities	(1,291)	$ (1,248)
Increase (decrease) valuation allowance	$ (3)

Income Taxes - Carryforward (De

Income Taxes - Carryforward (Detail) $ in Millions	Dec. 31, 2018USD ($)
Federal [Member]
Income Taxes
Capital loss carry-forward	$ 443
State [Member]
Income Taxes
Net operating loss carry-forwards	1,900
Tax credit carry-forward	20
Foreign [Member]
Income Taxes
Tax credit carry-forward	$ 35

Income Taxes - Unrecognized Tax

Income Taxes - Unrecognized Tax Benefits (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Taxes
Balance beginning	$ 109	$ 82	$ 71
Additions based on tax positions related to the current year	6	19	19
Additions based on tax positions of prior years	12	11	4
Accrued interest	2	4	2
Reductions for tax positions of prior years			(7)
Settlements	(88)	(1)
Lapse of statute of limitations	(5)	(6)	(7)
Balance ending	36	109	82
Net unrecognized tax benefits that would impact effective tax rate	31
Accrual for unrecognized tax benefits	$ 0	$ 0	$ 0

Employee Benefit Plans - Additi

Employee Benefit Plans - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Defined Benefit Plan Disclosure [Line Items]
Employee waiting period after hire to participate in the defined contribution plans	90 days
Employee maximum contribution towards defined contribution plans as percentage of annual compensation	50.00%
Employee maximum contribution towards defined contribution plans as percentage of annual incentive plan bonus	80.00%
Percentage of contribution upon eligibility for non union employees hired after threshold period	3.00%
Employer's match in cash of non-union employee contributions on first specified percentage of eligible compensation	100.00%
First percentage of eligible compensation on which specified percentage of non-union employee contribution is matched by the employer in cash	3.00%
Employer's match in cash of non-union employee contributions on next specified percentage of eligible compensation	50.00%
Next percentage of eligible compensation on which specified percentage of non-union employee contribution is matched by the employer in cash	3.00%
Employer maximum match of non-union employee contribution on eligible compensation	4.50%
Defined contribution plans expense	$ 80	$ 70	$ 64
Accrued benefit liabilities	21	29
Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Combined accumulated benefit obligation of pension plans	120	126
Plan assets of pension plans	117	120
Unfunded benefit obligation	3	6
Other Postretirement Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Unfunded benefit obligation	$ 18	$ 23

Employee Benefit Plans - Indivi

Employee Benefit Plans - Individually Significant (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Multiemployer Plans [Line Items]
Company Contributions	$ 47	$ 47	$ 47
Multiemployer Plan, Total Individually Significant Pension Plans [Member]
Multiemployer Plans [Line Items]
Company Contributions	33	32	30
Automotive Industries Pension Plan [Member]
Multiemployer Plans [Line Items]
Company Contributions	1	1	1
Suburban Teamsters of Northern Illinois Pension Plan [Member]
Multiemployer Plans [Line Items]
Company Contributions	3	3	3
Western Conference of Teamsters Pension Plan [Member]
Multiemployer Plans [Line Items]
Company Contributions	29	27	25
Western Pennsylvania Teamsters and Employers Pension Plan [Member]
Multiemployer Plans [Line Items]
Company Contributions		1	1
Multiemployer Plan, Aggregate Individually Insignificant Pension Plans [Member]
Multiemployer Plans [Line Items]
Company Contributions	$ 14	$ 15	$ 17

Employee Benefit Plans - Indi_2

Employee Benefit Plans - Individually Significant Information (Detail) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Multiemployer Plans [Line Items]
High end of funded percentage of multiemployer plans in critical status		65.00%
High end of funded percentage of multiemployer plans in endangered status		80.00%
Surcharge percentage during first twelve months on contribution rates for plans certified as endangered, seriously endangered or critical		5.00%
Period for which surcharge is 5% on contribution rates for plans certified as endangered, seriously endangered or critical		12 months
Accrued benefit liabilities		$ 21	$ 29
Surcharge percentage after first twelve months on contribution rates for plans certified as endangered, seriously endangered or critical		10.00%
Company Contributions		$ 47	$ 47	$ 47
Minimum [Member]
Multiemployer Plans [Line Items]
Projected insolvency period		15 years
Maximum [Member]
Multiemployer Plans [Line Items]
Projected insolvency period		20 years
Suburban Teamsters of Northern Illinois Pension Plan [Member]
Multiemployer Plans [Line Items]
Minimum percentage of total contributions provided by the Company relating to multiemployer plans			5.00%	5.00%
Company Contributions		$ 3	$ 3	$ 3
Western Pennsylvania Teamsters and Employers Pension Plan [Member]
Multiemployer Plans [Line Items]
Company Contributions			1	1
Multiemployer Health and Welfare Plan [Member]
Multiemployer Plans [Line Items]
Company Contributions		43	42	$ 40
Withdrawal from Multiemployer Pension Plans [Member]
Multiemployer Plans [Line Items]
Charge to "Operating" expenses	$ 11	3	12
Withdrawal from Multiemployer Pension Plans [Member] | Western Pennsylvania Teamsters and Employers Pension Plan [Member]
Multiemployer Plans [Line Items]
Charge to "Operating" expenses		$ 2	$ 11

Commitments and Contingencies_2

Commitments and Contingencies (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	May 31, 2018
Contingencies And Commitments [Line Items]
Maximum self insurance exposures per incident under general liability insurance program	$ 5
Maximum self insurance exposures per incident under workers' compensation insurance program	5
Per incident base deductible under auto liability insurance program	10
Insurance claims receivable	130	$ 153
Beginning Balance	582	588
Self-insurance expense (benefit)	142	142
Cash paid and other	(157)	(148)
Ending Balance	567	582
Current portion	137	107
Long-term portion	$ 430	$ 475
Expected time period in years for cash settlement of recorded obligations associated with insurance liabilities	6 years
Revolving Credit Facility [Member]
Contingencies And Commitments [Line Items]
Credit Facility, aggregate capacity	$ 2,750		$ 2,250

Commitments and Contingencies -

Commitments and Contingencies - Obligations (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Commitments and Contingencies.
Operating lease expense	$ 129	$ 134	$ 125
Minimum contractual payments for operating leases in 2019	74
Minimum contractual payments for operating leases in 2020	69
Minimum contractual payments for operating leases in 2021	54
Minimum contractual payments for operating leases in 2022	40
Minimum contractual payments for operating leases in 2023	37
Minimum contractual payments for operating leases thereafter	370
Estimated minimum purchase obligation in 2019	138
Estimated minimum purchase obligation in 2020	121
Estimated minimum purchase obligation in 2021	110
Estimated minimum purchase obligation in 2022	45
Estimated minimum purchase obligation in 2023	41
Estimated minimum purchase obligation in thereafter	$ 399

Commitments and Contingencies_3

Commitments and Contingencies - Other (Details)	2 Months Ended	3 Months Ended	12 Months Ended
	Jan. 31, 2011item	Sep. 30, 2017USD ($)	Dec. 31, 2018USD ($)siteitem	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Commitments And Contingencies [Line Items]
Approximate number of homeowners' properties adjacent to or near certain of our landfills with agreements guaranteeing market value | item			775
Number of landfills adjacent to or near homeowners' properties with agreements guaranteeing market value | item			19
Environmental remediation liabilities			$ 237,000,000
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
Dollar threshold for environmental matters requiring disclosure under item 103 of the SEC's Regulation S-K			$ 100,000
Approximate percentage of workforce covered by collective bargaining agreements			20.00%
Expected time of completion of IRS audits			15 months
Withdrawal from Multiemployer Pension Plans [Member]
Commitments And Contingencies [Line Items]
Charge to "Operating" expenses		$ 11,000,000	$ 3,000,000	$ 12,000,000
San Jacinto Waste Pits [Member]
Commitments And Contingencies [Line Items]
Environmental remediation liabilities			55,000,000	55,000,000
Revisions in estimate		$ 9,000,000		$ 11,000,000	$ 44,000,000
Waimanalo Gulch Sanitary Landfill
Commitments And Contingencies [Line Items]
Number of major rainfalls | item	2
Wheelabrator [Member]
Commitments And Contingencies [Line Items]
Maximum future payments			$ 85,000,000

Asset Impairments and Unusual_3

Asset Impairments and Unusual Items - Components (Detail) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Dec. 31, 2018	Jun. 30, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Asset Impairments and Unusual Items
(Gain) loss from divestitures		$ (40)	$ (96)	$ (38)	$ 9
Asset impairments	$ 8		38	41	59
Other				(19)	44
(Gain) loss from divestitures, asset impairments and unusual items			$ (58)	$ (16)	$ 112

Asset Impairments and Unusual_4

Asset Impairments and Unusual Items - Details (Details) - USD ($) $ in Millions	3 Months Ended						12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Dec. 31, 2017	Sep. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Expense From Divestitures Asset Impairments And Unusual Items [Line Items]
(Gain) loss from divestitures, asset impairments and unusual items, net							$ (58)	$ (16)	$ 112
Gain (loss) on sale of assets			$ 40				96	38	(9)
Asset impairments	$ 8						38	41	59
Goodwill impairment charges				$ 34			6	34	12
San Jacinto Waste Pits [Member]
Income Expense From Divestitures Asset Impairments And Unusual Items [Line Items]
Revisions in estimate					$ 9			11	44
Lamp Tracker Reporting Unit [Member]
Income Expense From Divestitures Asset Impairments And Unusual Items [Line Items]
Goodwill impairment charges	6
Oil and Gas Well [Member]
Income Expense From Divestitures Asset Impairments And Unusual Items [Line Items]
Gains from sale of oil and gas properties				31				31
Energy and Environmental Services [Member]
Income Expense From Divestitures Asset Impairments And Unusual Items [Line Items]
Decrease in contingent consideration				(30)				(30)
Renewable Energy Assets [Member]
Income Expense From Divestitures Asset Impairments And Unusual Items [Line Items]
Asset impairments								7
Investment In Majority Owned Organics Company [Member]
Income Expense From Divestitures Asset Impairments And Unusual Items [Line Items]
Gain (loss) on sale of assets									(8)
Waste Diversion Technology Company [Member]
Income Expense From Divestitures Asset Impairments And Unusual Items [Line Items]
Equity method investments impairment charges						$ 25		29
Cost method investment impairment				$ 11				11	42
Landfill [Member]
Income Expense From Divestitures Asset Impairments And Unusual Items [Line Items]
Asset impairments		$ 29					30		$ 43
Tier 1 [Member]
Income Expense From Divestitures Asset Impairments And Unusual Items [Line Items]
Gain (loss) on sale of assets	$ 52						52
Other [Member]
Income Expense From Divestitures Asset Impairments And Unusual Items [Line Items]
Gain (loss) on sale of assets							44
Goodwill impairment charges							$ 6	$ 34

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Changes (Detail) - USD ($) $ in Millions	Jan. 01, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Mar. 31, 2016
AOCI roll forward
Beginning balance	$ 6,042	$ 6,042	$ 5,320	$ 5,367
Other comprehensive income (loss), net of tax		(90)	88	47
Ending balance		6,276	6,042	5,320
Accounting Standards Update 2018-02 [Member]
AOCI roll forward
Adoption of new accounting standard	5
Accumulated Other Comprehensive Loss [Member]
AOCI roll forward
Beginning balance	8	8	(80)	(127)
Other comprehensive income (loss) before reclassifications, net of tax		(98)	82	24
Amounts reclassified from accumulated other comprehensive (income) loss, net of tax		8	6	23
Other comprehensive income (loss), net of tax		(90)	88	47
Ending balance		(87)	8	(80)
Accumulated Other Comprehensive Loss [Member] | Accounting Standards Update 2018-02 [Member]
AOCI roll forward
Adoption of new accounting standard		(5)
Derivative Instruments [Member]
AOCI roll forward
Beginning balance	(33)	(33)	(40)	(52)
Other comprehensive income (loss) before reclassifications, net of tax				(7)
Amounts reclassified from accumulated other comprehensive (income) loss, net of tax		8	7	19
Other comprehensive income (loss), net of tax		8	7	12
Ending balance		(32)	(33)	(40)
Derivative Instruments [Member] | Foreign Currency Derivatives [Member]
AOCI roll forward
Other comprehensive income (loss) before reclassifications, net of tax				7
Outstanding derivatives					$ 0
Derivative Instruments [Member] | Accounting Standards Update 2018-02 [Member]
AOCI roll forward
Adoption of new accounting standard		(7)
Available for sale Securities [Member]
AOCI roll forward
Beginning balance	15	15	13	8
Other comprehensive income (loss) before reclassifications, net of tax		5	3	5
Amounts reclassified from accumulated other comprehensive (income) loss, net of tax			(1)
Other comprehensive income (loss), net of tax		5	2	5
Ending balance		23	15	13
Available for sale Securities [Member] | Accounting Standards Update 2018-02 [Member]
AOCI roll forward
Adoption of new accounting standard		3
Foreign Currency Translation Adjustments [Member]
AOCI roll forward
Beginning balance	29	29	(47)	(75)
Other comprehensive income (loss) before reclassifications, net of tax		(105)	76	26
Amounts reclassified from accumulated other comprehensive (income) loss, net of tax				2
Other comprehensive income (loss), net of tax		(105)	76	28
Ending balance		(76)	29	(47)
Post - Retirement Benefit Obligation [Member]
AOCI roll forward
Beginning balance	$ (3)	(3)	(6)	(8)
Other comprehensive income (loss) before reclassifications, net of tax		2	3
Amounts reclassified from accumulated other comprehensive (income) loss, net of tax				2
Other comprehensive income (loss), net of tax		2	3	2
Ending balance		(2)	$ (3)	$ (6)
Post - Retirement Benefit Obligation [Member] | Accounting Standards Update 2018-02 [Member]
AOCI roll forward
Adoption of new accounting standard		$ (1)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss - Tax Impact (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Derivative Instruments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss) before reclassifications, tax	$ 0	$ 0	$ (4)
Amounts reclassified from accumulated other comprehensive (income) loss, tax	3	5	12
Derivative Instruments [Member] | Foreign Currency Derivatives [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss) before reclassifications, tax			(4)
Available for sale Securities [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss) before reclassifications, tax	2	2	3
Amounts reclassified from accumulated other comprehensive (income) loss, tax	0	(1)	0
Foreign Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss) before reclassifications, tax	0	0	0
Amounts reclassified from accumulated other comprehensive (income) loss, tax	0	0	0
Post - Retirement Benefit Obligation [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss) before reclassifications, tax	1	1	0
Amounts reclassified from accumulated other comprehensive (income) loss, tax	$ 0	$ 0	$ 1

Accumulated Other Comprehensi_5

Accumulated Other Comprehensive Loss - Reclassification (Detail) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other, net									$ 2	$ (14)	$ (54)
Income before income taxes									2,376	2,191	1,822
Tax (expense) benefit									(453)	(242)	(642)
Consolidated net income	$ 531	$ 498	$ 499	$ 395	$ 903	$ 388	$ 361	$ 297	1,923	1,949	1,180
Derivative Instruments [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income before income taxes									(11)	(12)	(31)
Tax (expense) benefit									3	5	12
Consolidated net income									(8)	(7)	(19)
Derivative Instruments [Member] | Interest Rate Swaps [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense, net									(10)	(11)	(10)
Derivative Instruments [Member] | Treasury Lock [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense, net									$ (1)	$ (1)	(1)
Derivative Instruments [Member] | Foreign Currency Derivatives [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other, net											$ (20)

Capital Stock, Dividends and _3

Capital Stock, Dividends and Common Stock Repurchase Program (Detail) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Capital Stock, Dividends and Common Stock Repurchase Program
Common stock, shares authorized	1,500,000,000	1,500,000,000	1,500,000,000
Common stock, par value	$ 0.01	$ 0.01	$ 0.01
Common stock, shares issued	630,282,461	630,282,461	630,282,461
Number of common shares outstanding	424,000,000	424,000,000	433,300,000	439,300,000
Preferred stock shares authorized	10,000,000	10,000,000
Preferred stock par value per share	$ 0.01	$ 0.01
Preferred stock shares outstanding	0	0
Cash dividends		$ 802	$ 750	$ 726
Cash dividends declared and paid per common share		$ 1.86	$ 1.70	$ 1.64
Quarterly common stock dividend per share	0.465
Expected quarterly common stock dividend per share	$ 0.5125

Capital Stock, Dividends and _4

Capital Stock, Dividends and Common Stock Repurchase Program - Repurchase Program (Detail) $ / shares in Units, shares in Thousands, $ in Millions	1 Months Ended		2 Months Ended	12 Months Ended
	Feb. 08, 2019USD ($)shares	Nov. 30, 2016USD ($)shares	Feb. 14, 2019USD ($)	Dec. 31, 2018USD ($)item$ / sharesshares	Dec. 31, 2017USD ($)item$ / sharesshares	Dec. 31, 2016USD ($)item$ / sharesshares
Accelerated Share Repurchases [Line Items]
Shares repurchased | shares				11,673	10,058	11,241
Weighted average per share purchase price | $ / shares				$ 86.35	$ 77.67	$ 60.49
Total repurchases				$ 1,008	$ 750	$ 725
Cash paid for repurchase of common stock				1,004	750	$ 725
Authorized share repurchases				$ 1,500	$ 1,250
Accelerated Share Repurchase Agreement (ASR) [Member]
Accelerated Share Repurchases [Line Items]
Shares repurchased | shares		400		9,800		3,200
Weighted average per share purchase price | $ / shares						$ 69.43
Total repurchases		$ 225
Number of ASR agreements | item				4	2	4
Cash paid for repurchase of common stock				$ 850	$ 750	$ 725
10b5-1 Plan [Member]
Accelerated Share Repurchases [Line Items]
Shares repurchased | shares	600			1,900
Total repurchases	$ 54			$ 158
Cash paid for repurchase of common stock			$ 4

Equity-Based Compensation (Deta

Equity-Based Compensation (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)itemshares	Dec. 31, 2017USD ($)shares	Dec. 31, 2016USD ($)shares	May 31, 2014shares
2014 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available under employee stock plans	20,800,000
Maximum number of shares authorized for issuance				23,800,000
2009 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available under employee stock plans				1,100,000
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service period	30 days
Number of offering periods | item	2
Price employees purchase shares (as a percent)	85.00%
Annual salary deducted for plan (as a percent)	10.00%
Shares issued under the plan	582,000	594,000	647,000
Shares available under employee stock plans	1,300,000
Compensation expense recognized | $	$ 9	$ 7	$ 7
Compensation expense recognized, net of tax | $	$ 7	$ 4	$ 4

Equity-Based Compensation - RSU

Equity-Based Compensation - RSUs (Detail) - Restricted Stock Units [Member] - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested, Units, beginning of year	444
Granted, Units	116
Vested, Units	(154)
Forfeited, Units	(14)
Unvested, Units, end of year	392	444
Unvested, Weighted Average Per Share Fair Value, beginning of year	$ 61.20
Granted, Weighted Average Per Share Fair Value	85.52
Vested, Weighted Average Per Share Fair Value	55.03
Forfeited, Weighted Average Per Share Fair Value	69.19
Unvested, Weighted Average Per Share Fair Value, end of year	$ 70.52	$ 61.20
Total fair market value of vested awards	$ 13	$ 12	$ 12
Shares issued under the plan	106,000
Vested deferred units outstanding	48,000
Vesting period	3 years

Equity-Based Compensation - PSU

Equity-Based Compensation - PSUs (Detail) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	12 Months Ended
	Feb. 28, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Performance Share Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		3 years	3 years
Vested shares issued, percentage of the established target			200.00%
Range of potential payout (as a percent)		100.00%
Unvested, Units, beginning of year		1,299
Granted, Units		371
Vested, Units	(918,000)	(459)
Forfeited, Units		(47)
Unvested, Units, end of year		1,164	1,299
Unvested, Weighted Average Per Share Fair Value, beginning of year		$ 84.78
Granted, Weighted Average Per Share Fair Value		98.45
Vested, Weighted Average Per Share Fair Value		82.22
Forfeited, Weighted Average Per Share Fair Value		87.59
Unvested, Weighted Average Per Share Fair Value, end of year		$ 90.17	$ 84.78
Shares issued under the plan	575,000
Total fair market value of vested awards		$ 78	$ 80	$ 50
Deferred Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested deferred units outstanding		262,000
Minimum [Member] | Performance Share Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Range of potential payout (as a percent)		0.00%
Maximum [Member] | Performance Share Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Range of potential payout (as a percent)		200.00%

Equity-Based Compensation - Sto

Equity-Based Compensation - Stock Options (Detail) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercisable shares, end of year	2,269
Exercisable, weighted average per share exercise price	$ 46.86
Exercise of common stock options	$ 52	$ 95	$ 63
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term of awards	10 years
Outstanding shares, beginning of year	4,885
Granted, shares	779
Exercised, shares	(1,125)
Forfeited or expired, shares	(98)
Outstanding shares, end of year	4,441	4,885
Exercisable shares, end of year	2,269
Outstanding, Weighted Average Per Share Fair Value, beginning of year	$ 53.46
Granted, Weighted Average Per Share Fair Value	85.34
Exercised, Weighted Average Per Share Fair Value	50.64
Forfeited or expired, Weighted Average Per Share Fair Value	67.53
Outstanding, Weighted Average Per Share Fair Value, end of year	59.46	$ 53.46
Exercisable, weighted average per share exercise price	$ 46.86
Weighted average remaining contractual term of stock options outstanding	6 years 4 months 24 days
Aggregate intrinsic value of stock options outstanding based on the market value of company's common stock	$ 131
Aggregate intrinsic value of stock options exercisable based on the market value of company's common stock	96
Exercise of common stock options	52	$ 95	63
Aggregate intrinsic value of stock options exercised	$ 41	$ 71	$ 67
First Anniversary [Member] | Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting (as a percent)	25.00%
Second Anniversary [Member] | Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting (as a percent)	25.00%
Third Anniversary [Member] | Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting (as a percent)	50.00%

Equity-Based Compensation - Exe

Equity-Based Compensation - Exercise price (Detail)	12 Months Ended
	Dec. 31, 2018$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercisable shares, end of year | shares	2,269
Exercisable, weighted average per share exercise price	$ 46.86
Weighted average remaining years	4 years 10 months 24 days
$33.49-$50.00 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price, low end of range	$ 33.49
Exercise price, high end of range	$ 50
Exercisable shares, end of year | shares	1,288
Exercisable, weighted average per share exercise price	$ 37.89
Weighted average remaining years	3 years 6 months
$50.01-$70.00 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price, low end of range	$ 50.01
Exercise price, high end of range	$ 70
Exercisable shares, end of year | shares	797
Exercisable, weighted average per share exercise price	$ 55.20
Weighted average remaining years	6 years 6 months
$70.01-$85.34 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price, low end of range	$ 70.01
Exercise price, high end of range	$ 85.34
Exercisable shares, end of year | shares	184
Exercisable, weighted average per share exercise price	$ 73.40
Weighted average remaining years	8 years 2 months 12 days

Equity-Based Compensation - Ass

Equity-Based Compensation - Assumptions (Detail) $ / shares in Units, $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2017USD ($)	Dec. 31, 2018USD ($)item$ / shares	Dec. 31, 2017USD ($)$ / shares	Dec. 31, 2016USD ($)$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred income tax benefits included in income tax expense	$ 32	$ 17	$ 37
Employee Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense recognized		79	92	$ 81
Deferred income tax benefits included in income tax expense		17	$ 36	$ 32
Currently unrecognized compensation expense		$ 44
Weighted average period unrecognized compensation expenses expected to be recognized		1 year 4 months 24 days
Non-Employee Director Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of installments | item		2
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of stock options granted | $ / shares		$ 12.16	$ 11.71	$ 6.31
Expected option life		4 years 3 months 18 days	3 years 6 months	4 years 8 months 12 days
Expected volatility		17.90%	15.30%	18.40%
Expected dividend yield		2.20%	2.30%	2.90%
Risk-free interest rate		2.60%	1.70%	1.30%

Earnings Per Share (Detail)

Earnings Per Share (Detail) - shares shares in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Earnings Per Share
Number of common shares outstanding at end of period	424	433.3	439.3
Effect of using weighted average common shares outstanding	5.1	5.5	4.2
Weighted average basic common shares outstanding	429.1	438.8	443.5
Dilutive effect of equity-based compensation awards and other contingently issuable shares	3.1	3.1	3
Weighted average diluted common shares outstanding	432.2	441.9	446.5
Potentially issuable shares	7.4	8.1	9.8
Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding	1.5	1.9	1

Fair Value Measurements - Recur

Fair Value Measurements - Recurring (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Redeemable Preferred Stock [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value adjustment asset	$ 11
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	424	$ 376
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	70	225
Fair Value, Measurements, Recurring [Member] | 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	70	225
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	288	96
Fair Value, Measurements, Recurring [Member] | 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]
Investments	288	96
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	66	55
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Redeemable Preferred Stock [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	$ 66	$ 55

Fair Value Measurements - Debt

Fair Value Measurements - Debt (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Reported Value Measurement [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of Debt	$ 10,000	$ 9,500
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net debt borrowings (repayments)	563
Significant Other Observable Inputs (Level 2) [Member] | Estimate of Fair Value Measurement [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of Debt	$ 10,100	$ 9,900

Acquisitions and Divestitures_2

Acquisitions and Divestitures (Detail) $ in Millions	Jan. 08, 2016USD ($)	Dec. 31, 2018USD ($)item	Dec. 31, 2017USD ($)item	Dec. 31, 2016USD ($)item	May 31, 2018USD ($)
Business Acquisition [Line Items]
Number of business acquired | item		32	24	30
Consideration, net of cash acquired, for business acquisitions		$ 471	$ 205	$ 604
Business acquisitions closed during the year, cash payments		440	183	581
Other consideration		31	22	23
Contingent consideration paid for acquisitions closed in previous year		6	3	4
Purchase price holdbacks paid		20	14	26
Purchase price holdbacks paid for acquisitions closed in current year		15	13	16
Allocation of consideration to property and equipment		115	127	115
Allocation of consideration to other intangible assets		141	46	212
Allocation of consideration to goodwill		248	39	280
Revolving Credit Facility [Member]
Business Acquisition [Line Items]
Credit Facility, aggregate capacity		2,750			$ 2,250
Other Intangible Assets [Member]
Business Acquisition [Line Items]
Allocation of consideration to other intangible assets		1
Customer and Supplier Relationships [Member]
Business Acquisition [Line Items]
Allocation of consideration to other intangible assets		124	39	185
Covenants not-to-compete [Member]
Business Acquisition [Line Items]
Allocation of consideration to other intangible assets		$ 16	$ 7	23
Trade Name [Member]
Business Acquisition [Line Items]
Allocation of consideration to other intangible assets				$ 4
Southern Waste Systems [Member]
Business Acquisition [Line Items]
Consideration, net of cash acquired, for business acquisitions	$ 525
Allocation of consideration to property and equipment	93
Allocation of consideration to other intangible assets	182
Allocation of consideration to goodwill	250
Southern Waste Systems [Member] | Customer and Supplier Relationships [Member]
Business Acquisition [Line Items]
Allocation of consideration to other intangible assets	160
Southern Waste Systems [Member] | Covenants not-to-compete [Member]
Business Acquisition [Line Items]
Allocation of consideration to other intangible assets	18
Southern Waste Systems [Member] | Trade Name [Member]
Business Acquisition [Line Items]
Allocation of consideration to other intangible assets	$ 4

Acquisitions and Divestitures -

Acquisitions and Divestitures - Intangibles (Detail) - USD ($) $ in Millions	Jan. 08, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Intangible assets
Total other intangible assets subject to amortization, Amount		$ 141	$ 46	$ 212
Customer and Supplier Relationships [Member]
Intangible assets
Total other intangible assets subject to amortization, Amount		124	39	185
Covenants not-to-compete [Member]
Intangible assets
Total other intangible assets subject to amortization, Amount		$ 16	$ 7	23
Trade Name [Member]
Intangible assets
Total other intangible assets subject to amortization, Amount				$ 4
Southern Waste Systems [Member]
Intangible assets
Total other intangible assets subject to amortization, Amount	$ 182
Total other intangible assets subject to amortization, Periods	9 years 6 months
Southern Waste Systems [Member] | Customer and Supplier Relationships [Member]
Intangible assets
Total other intangible assets subject to amortization, Amount	$ 160
Total other intangible assets subject to amortization, Periods	10 years
Southern Waste Systems [Member] | Covenants not-to-compete [Member]
Intangible assets
Total other intangible assets subject to amortization, Amount	$ 18
Total other intangible assets subject to amortization, Periods	5 years
Southern Waste Systems [Member] | Trade Name [Member]
Intangible assets
Total other intangible assets subject to amortization, Amount	$ 4
Total other intangible assets subject to amortization, Periods	10 years

Acquisitions and Divestitures_3

Acquisitions and Divestitures - Divestitures (Detail) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Jun. 30, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Divestitures
Gain (loss) on sale of assets	$ 40	$ 96	$ 38	$ (9)
Disposed of by Sale, Not Discontinued Operations [Member]
Divestitures
Aggregate sales prices for divestitures of hauling and ancillary operations		153	62	2
Gain (loss) on sale of assets		$ 96	$ 38	$ (9)

Variable Interest Entities (Det

Variable Interest Entities (Detail) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Variable Interest Entity, Not Primary Beneficiary [Member] | Other Receivables Investments in Unconsolidated Entities and Other Assets [Member]
Variable Interest Entity [Line Items]
Value of unconsolidated VIEs	$ 92	$ 99
Investments Qualifying for Federal Tax Credits [Member] | Variable Interest Entity, Not Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Aggregate investment balance	189	59
Investment In Low Income Housing Properties [Member] | Variable Interest Entity, Not Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Equity method investments debt balance	151	34
Trust For Final Capping, Closure, Post-closure Or Environmental Remediation Obligations [Member] | Variable Interest Entity, Primary Beneficiary [Member] | Long-term other assets [Member]
Variable Interest Entity [Line Items]
Value of consolidated VIEs	$ 103	$ 101

Segment and Related Informati_3

Segment and Related Information - Information (Detail) - Solid Waste [Member]	12 Months Ended
	Dec. 31, 2018segmentarea
Segment Reporting Information [Line Items]
Number of areas | area	17
Number of reportable segments | segment	3

Segment and Related Informati_4

Segment and Related Information - Summary (Detail) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Operating revenues	$ 3,842	$ 3,822	$ 3,739	$ 3,511	$ 3,652	$ 3,716	$ 3,677	$ 3,440	$ 14,914	$ 14,485	$ 13,609
Income from operations	767	$ 699	$ 715	$ 608	704	$ 701	$ 673	$ 558	2,789	2,636	2,296
Depreciation and amortization									1,477	1,376	1,301
Capital Expenditures									1,671	1,568	1,347
Total Assets	22,650				21,829				22,650	21,829	20,859
Operating Segments [Member]
Segment Reporting Information [Line Items]
Operating revenues									18,024	17,370	16,246
Total Assets	22,896				22,116				22,896	22,116	21,137
Intercompany Operating Revenues [Member]
Segment Reporting Information [Line Items]
Operating revenues									(3,110)	(2,885)	(2,637)
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Income from operations									(540)	(585)	(550)
Depreciation and amortization									30	45	56
Capital Expenditures									200	92	45
Total Assets	1,487				1,327				1,487	1,327	1,401
Elimination of Intercompany Investments and Advances [Member]
Segment Reporting Information [Line Items]
Total Assets	(246)				(287)				(246)	(287)	(278)
Operating Group Total [Member]
Segment Reporting Information [Line Items]
Operating revenues									14,914	14,485	13,609
Operating Group Total [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Operating revenues									18,024	17,370	16,246
Income from operations									3,329	3,221	2,846
Depreciation and amortization									1,447	1,331	1,245
Capital Expenditures									1,471	1,476	1,302
Total Assets	21,409				20,789				21,409	20,789	19,736
Operating Group Total [Member] | Intercompany Operating Revenues [Member]
Segment Reporting Information [Line Items]
Operating revenues									(3,110)	(2,885)	(2,637)
Solid Waste [Member]
Segment Reporting Information [Line Items]
Operating revenues									12,622	12,167	11,516
Solid Waste [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Operating revenues									15,537	14,832	13,968
Income from operations									3,395	3,289	2,946
Depreciation and amortization									1,356	1,228	1,144
Capital Expenditures									1,399	1,383	1,198
Total Assets	19,838				19,004				19,838	19,004	18,247
Solid Waste [Member] | Intercompany Operating Revenues [Member]
Segment Reporting Information [Line Items]
Operating revenues									(2,915)	(2,665)	(2,452)
Tier 1 [Member]
Segment Reporting Information [Line Items]
Operating revenues									4,805	4,574	4,330
Tier 1 [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Operating revenues									5,868	5,576	5,241
Income from operations									1,642	1,538	1,430
Depreciation and amortization									510	451	424
Capital Expenditures									595	603	452
Total Assets	6,958				6,528				6,958	6,528	6,188
Tier 1 [Member] | Intercompany Operating Revenues [Member]
Segment Reporting Information [Line Items]
Operating revenues									(1,063)	(1,002)	(911)
Tier 2 [Member]
Segment Reporting Information [Line Items]
Operating revenues									2,135	2,116	1,996
Tier 2 [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Operating revenues									2,622	2,559	2,400
Income from operations									542	552	522
Depreciation and amortization									232	203	190
Capital Expenditures									257	185	157
Total Assets	3,761				3,749				3,761	3,749	3,562
Tier 2 [Member] | Intercompany Operating Revenues [Member]
Segment Reporting Information [Line Items]
Operating revenues									(487)	(443)	(404)
Tier 3 [Member]
Segment Reporting Information [Line Items]
Operating revenues									5,682	5,477	5,190
Tier 3 [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Operating revenues									7,047	6,697	6,327
Income from operations									1,211	1,199	994
Depreciation and amortization									614	574	530
Capital Expenditures									547	595	589
Total Assets	9,119				8,727				9,119	8,727	8,497
Tier 3 [Member] | Intercompany Operating Revenues [Member]
Segment Reporting Information [Line Items]
Operating revenues									(1,365)	(1,220)	(1,137)
Other [Member]
Segment Reporting Information [Line Items]
Operating revenues									2,292	2,318	2,093
Other [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Operating revenues									2,487	2,538	2,278
Income from operations									(66)	(68)	(100)
Depreciation and amortization									91	103	101
Capital Expenditures									72	93	104
Total Assets	$ 1,571				$ 1,785				1,571	1,785	1,489
Other [Member] | Intercompany Operating Revenues [Member]
Segment Reporting Information [Line Items]
Operating revenues									$ (195)	$ (220)	$ (185)

Segment and Related Informati_5

Segment and Related Information - Summary information (Detail) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Assets	$ 21,829	$ 22,650	$ 21,829	$ 20,859
Goodwill, Beginning Balance		6,247	6,215
Acquired goodwill		248	39
Divested goodwill		(25)	(1)
Impairments	(34)	(6)	(34)	(12)
Foreign currency translation		(34)	28
Goodwill, Ending Balance	6,247	6,430	6,247	6,215
Tier 1 [Member]
Segment Reporting Information [Line Items]
Goodwill, Beginning Balance		2,221	2,203
Acquired goodwill		88	12
Divested goodwill		(6)
Foreign currency translation		(7)	6
Goodwill, Ending Balance	2,221	2,296	2,221	2,203
Tier 2 [Member]
Segment Reporting Information [Line Items]
Goodwill, Beginning Balance		1,237	1,196
Acquired goodwill		17	20
Divested goodwill			(1)
Foreign currency translation		(27)	22
Goodwill, Ending Balance	1,237	1,227	1,237	1,196
Tier 3 [Member]
Segment Reporting Information [Line Items]
Goodwill, Beginning Balance		2,668	2,661
Acquired goodwill		142	7
Goodwill, Ending Balance	2,668	2,810	2,668	2,661
Other [Member]
Segment Reporting Information [Line Items]
Goodwill, Beginning Balance		121	155
Acquired goodwill		1
Divested goodwill		(19)
Impairments		(6)	(34)
Goodwill, Ending Balance	121	97	121	155
Operating Segments [Member]
Segment Reporting Information [Line Items]
Assets	22,116	22,896	22,116	21,137
Operating Segments [Member] | Tier 1 [Member]
Segment Reporting Information [Line Items]
Assets	6,528	6,958	6,528	6,188
Operating Segments [Member] | Tier 2 [Member]
Segment Reporting Information [Line Items]
Assets	3,749	3,761	3,749	3,562
Operating Segments [Member] | Tier 3 [Member]
Segment Reporting Information [Line Items]
Assets	8,727	9,119	8,727	8,497
Operating Segments [Member] | Other [Member]
Segment Reporting Information [Line Items]
Assets	1,785	1,571	1,785	1,489
Elimination of Intercompany Investments and Advances [Member]
Segment Reporting Information [Line Items]
Assets	$ (287)	$ (246)	$ (287)	$ (278)

Segment and Related Informati_6

Segment and Related Information - Revenues mix (Detail) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenue from External Customer [Line Items]
Operating revenues	$ 3,842	$ 3,822	$ 3,739	$ 3,511	$ 3,652	$ 3,716	$ 3,677	$ 3,440	$ 14,914	$ 14,485	$ 13,609
Operating Segments [Member]
Revenue from External Customer [Line Items]
Operating revenues									18,024	17,370	16,246
Operating Segments [Member] | Collection [Member]
Revenue from External Customer [Line Items]
Operating revenues									9,724	9,264	8,802
Operating Segments [Member] | Commercial [Member]
Revenue from External Customer [Line Items]
Operating revenues									3,972	3,714	3,480
Operating Segments [Member] | Residential [Member]
Revenue from External Customer [Line Items]
Operating revenues									2,529	2,528	2,487
Operating Segments [Member] | Industrial [Member]
Revenue from External Customer [Line Items]
Operating revenues									2,773	2,583	2,412
Operating Segments [Member] | Other Collection [Member]
Revenue from External Customer [Line Items]
Operating revenues									450	439	423
Operating Segments [Member] | Landfill [Member]
Revenue from External Customer [Line Items]
Operating revenues									3,560	3,370	3,110
Operating Segments [Member] | Transfer [Member]
Revenue from External Customer [Line Items]
Operating revenues									1,711	1,591	1,512
Operating Segments [Member] | Recycling [Member]
Revenue from External Customer [Line Items]
Operating revenues									1,293	1,432	1,221
Operating Segments [Member] | Other Revenue [Member]
Revenue from External Customer [Line Items]
Operating revenues									1,736	1,713	1,601
Intercompany Operating Revenues [Member]
Revenue from External Customer [Line Items]
Operating revenues									$ (3,110)	$ (2,885)	$ (2,637)

Segment and Related Informati_7

Segment and Related Information - Geographical (Detail) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating revenues	$ 3,842	$ 3,822	$ 3,739	$ 3,511	$ 3,652	$ 3,716	$ 3,677	$ 3,440	$ 14,914	$ 14,485	$ 13,609
Property and equipment, net	11,942				11,559				11,942	11,559	10,950
US
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating revenues									14,167	13,768	12,915
Property and equipment, net	11,044				10,591				11,044	10,591	10,040
Canada [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating revenues									747	717	694
Property and equipment, net	$ 898				$ 968				$ 898	$ 968	$ 910

Quarterly Financial Data (Una_3

Quarterly Financial Data (Unaudited) - Summary (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Quarterly Financial Data
Operating revenues	$ 3,842	$ 3,822	$ 3,739	$ 3,511	$ 3,652	$ 3,716	$ 3,677	$ 3,440	$ 14,914	$ 14,485	$ 13,609
Income from operations	767	699	715	608	704	701	673	558	2,789	2,636	2,296
Consolidated net income	531	498	499	395	903	388	361	297	1,923	1,949	1,180
Net income attributable to Waste Management, Inc.	$ 531	$ 499	$ 499	$ 396	$ 903	$ 386	$ 362	$ 298	$ 1,925	$ 1,949	$ 1,182
Basic earnings per common share	$ 1.25	$ 1.16	$ 1.16	$ 0.91	$ 2.08	$ 0.88	$ 0.82	$ 0.68	$ 4.49	$ 4.44	$ 2.66
Diluted earnings per common share	$ 1.24	$ 1.16	$ 1.15	$ 0.91	$ 2.06	$ 0.87	$ 0.81	$ 0.67	$ 4.45	$ 4.41	$ 2.65

Quarterly Financial Data (Una_4

Quarterly Financial Data (Unaudited) - Information (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended						12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Dec. 31, 2017	Sep. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Quarterly Financial Information
Gain (loss) on sale of assets			$ 40				$ 96	$ 38	$ (9)
Positive (negative) impact on earnings per share	$ 0.07	$ (0.05)	$ 0.07		$ (0.03)	$ 0.01
Reduction in provision for income taxes due to tax audit settlements			$ (33)				(40)	(2)	(11)
Net reduction in income tax expense due to Tax Cuts and Jobs Act								(529)
Net pre-tax (gains) losses		$ 32		$ 26
Impairment charges	$ 8						38	41	59
Deferred tax adjustment							(17)
Excess tax benefits associated with equity-based compensation						$ 32	17	37
Remeasurement of net deferred tax assets and liabilities due to tax legislation								(595)
Mandatory transition tax due to tax legislation								66
Goodwill impairment charges				$ 34			6	34	12
Debt repayments							499	$ 1,907	2,682
Senior Notes, 6.1 Percent, Due March 2018 [Member]
Quarterly Financial Information
Positive (negative) impact on earnings per share				$ (0.01)
Loss on early extinguishment of debt				$ (6)
Debt repayments				$ 590
Interest rate				6.10%				6.10%
Waste Diversion Technology Company [Member]
Quarterly Financial Information
Positive (negative) impact on earnings per share				$ (0.02)
Equity method investments impairment charges						$ 25		$ 29
Cost method investment impairment				$ 11				11	42
Withdrawal from Multiemployer Pension Plans [Member]
Quarterly Financial Information
Charge to "Operating" expenses					$ 11		3	12
San Jacinto Waste Pits [Member]
Quarterly Financial Information
Revisions in estimate					$ 9			11	44
Business Activity Gain (Loss) [Member]
Quarterly Financial Information
Positive (negative) impact on earnings per share				$ 0.03
Oil and Gas Well [Member]
Quarterly Financial Information
Gains from sale of oil and gas properties				$ 31				31
Energy and Environmental Services [Member]
Quarterly Financial Information
Decrease in contingent consideration				$ (30)				(30)
Lamp Tracker Reporting Unit [Member]
Quarterly Financial Information
Goodwill impairment charges	$ 6
Landfill [Member]
Quarterly Financial Information
Impairment charges		$ 29					30		$ 43
Tax Implications [Member]
Quarterly Financial Information
Positive (negative) impact on earnings per share	$ 0.04	$ 0.06		$ 1.21
Net reduction in income tax expense due to Tax Cuts and Jobs Act		$ (27)		$ (529)
Deferred tax adjustment	$ (17)
Remeasurement of net deferred tax assets and liabilities due to tax legislation				(595)
Mandatory transition tax due to tax legislation				$ 66
Tier 1 [Member]
Quarterly Financial Information
Gain (loss) on sale of assets	$ 52						52
Other [Member]
Quarterly Financial Information
Gain (loss) on sale of assets							44
Goodwill impairment charges							$ 6	$ 34

Condensed Consolidating Finan_3

Condensed Consolidating Financial Statements - Balance Sheets (Detail) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 61	$ 22	$ 32
Other current assets	2,584	2,672
Total current assets	2,645	2,694
Property and equipment, net	11,942	11,559	10,950
Other assets	8,063	7,576
Total assets	22,650	21,829	20,859
Current liabilities:
Current portion of long-term debt	432	739
Accounts payable and other current liabilities	2,676	2,523
Total current liabilities	3,108	3,262
Long-term debt, less current portion	9,594	8,752
Other liabilities	3,672	3,773
Total liabilities	16,374	15,787
Equity:
Stockholders' equity	6,275	6,019
Noncontrolling interests	1	23
Total equity	6,276	6,042	$ 5,320	$ 5,367
Total liabilities and equity	22,650	21,829
Eliminations [Member]
Current assets:
Investments in affiliates	(49,773)	(45,286)
Advances to affiliates	(17,258)	(15,349)
Total assets	(67,031)	(60,635)
Current liabilities:
Due to affiliates	(24,253)	(21,701)
Total liabilities	(24,253)	(21,701)
Equity:
Stockholders' equity	(49,773)	(45,286)
Advances to affiliates	6,995	6,352
Total equity	(42,778)	(38,934)
Total liabilities and equity	(67,031)	(60,635)
WM [Member] | Reportable Legal Entities [Member]
Current assets:
Other current assets	2	5
Total current assets	2	5
Investments in affiliates	24,676	22,393
Other assets	8	9
Total assets	24,686	22,407
Current liabilities:
Current portion of long-term debt	258	537
Accounts payable and other current liabilities	82	55
Total current liabilities	340	592
Long-term debt, less current portion	7,377	6,457
Due to affiliates	17,398	15,404
Other liabilities	5	8
Total liabilities	25,120	22,461
Equity:
Stockholders' equity	6,275	6,019
Advances to affiliates	(6,709)	(6,073)
Total equity	(434)	(54)
Total liabilities and equity	24,686	22,407
WM Holdings [Member] | Reportable Legal Entities [Member]
Current assets:
Other current assets	5	5
Total current assets	5	5
Investments in affiliates	25,097	22,893
Other assets	31	31
Total assets	25,133	22,929
Current liabilities:
Accounts payable and other current liabilities	9	9
Total current liabilities	9	9
Long-term debt, less current portion	304	304
Due to affiliates	146	224
Total liabilities	459	537
Equity:
Stockholders' equity	24,674	22,392
Total equity	24,674	22,392
Total liabilities and equity	25,133	22,929
Non-Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Current assets:
Cash and cash equivalents	61	22
Other current assets	2,577	2,662
Total current assets	2,638	2,684
Property and equipment, net	11,942	11,559
Advances to affiliates	17,258	15,349
Other assets	8,024	7,536
Total assets	39,862	37,128
Current liabilities:
Current portion of long-term debt	174	202
Accounts payable and other current liabilities	2,585	2,459
Total current liabilities	2,759	2,661
Long-term debt, less current portion	1,913	1,991
Due to affiliates	6,709	6,073
Other liabilities	3,667	3,765
Total liabilities	15,048	14,490
Equity:
Stockholders' equity	25,099	22,894
Advances to affiliates	(286)	(279)
Noncontrolling interests	1	23
Total equity	24,814	22,638
Total liabilities and equity	$ 39,862	$ 37,128

Condensed Consolidating Finan_4

Condensed Consolidating Financial Statements - Statements of Operations (Detail) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Condensed Income Statements, Captions [Line Items]
Operating revenues	$ 3,842	$ 3,822	$ 3,739	$ 3,511	$ 3,652	$ 3,716	$ 3,677	$ 3,440	$ 14,914	$ 14,485	$ 13,609
Costs and expenses									12,125	11,849	11,313
Income from operations	767	699	715	608	704	701	673	558	2,789	2,636	2,296
Other income (expense):
Interest expense, net									(374)	(363)	(376)
Other, net									(39)	(82)	(98)
Total other income (expense)									(413)	(445)	(474)
Income before income taxes									2,376	2,191	1,822
Income tax expense (benefit)									453	242	642
Consolidated net income	531	498	499	395	903	388	361	297	1,923	1,949	1,180
Less: Net loss attributable to noncontrolling interests									(2)		(2)
Net income attributable to Waste Management, Inc.	$ 531	$ 499	$ 499	$ 396	$ 903	$ 386	$ 362	$ 298	1,925	1,949	1,182
Eliminations [Member]
Condensed Income Statements, Captions [Line Items]
Operating revenues									(176)	(555)
Costs and expenses									(176)	(555)
Other income (expense):
Equity in earnings of subsidiaries, net of tax									(4,582)	(4,951)	(2,748)
Total other income (expense)									(4,582)	(4,951)	(2,748)
Income before income taxes									(4,582)	(4,951)	(2,748)
Consolidated net income									(4,582)	(4,951)	(2,748)
Net income attributable to Waste Management, Inc.									(4,582)	(4,951)	(2,748)
WM [Member] | Reportable Legal Entities [Member]
Condensed Income Statements, Captions [Line Items]
Costs and expenses									176	555
Income from operations									(176)	(555)
Other income (expense):
Interest expense, net									(312)	(299)	(303)
Equity in earnings of subsidiaries, net of tax									2,284	2,469	1,367
Other, net										(4)	(1)
Total other income (expense)									1,972	2,166	1,063
Income before income taxes									1,796	1,611	1,063
Income tax expense (benefit)									(129)	(338)	(119)
Consolidated net income									1,925	1,949	1,182
Net income attributable to Waste Management, Inc.									1,925	1,949	1,182
WM Holdings [Member] | Reportable Legal Entities [Member]
Other income (expense):
Interest expense, net									(20)	(20)	(20)
Equity in earnings of subsidiaries, net of tax									2,298	2,482	1,381
Other, net										(1)
Total other income (expense)									2,278	2,461	1,361
Income before income taxes									2,278	2,461	1,361
Income tax expense (benefit)									(5)	(8)	(8)
Consolidated net income									2,283	2,469	1,369
Net income attributable to Waste Management, Inc.									2,283	2,469	1,369
Non-Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Condensed Income Statements, Captions [Line Items]
Operating revenues									15,090	15,040	13,609
Costs and expenses									12,125	11,849	11,313
Income from operations									2,965	3,191	2,296
Other income (expense):
Interest expense, net									(42)	(44)	(53)
Other, net									(39)	(77)	(97)
Total other income (expense)									(81)	(121)	(150)
Income before income taxes									2,884	3,070	2,146
Income tax expense (benefit)									587	588	769
Consolidated net income									2,297	2,482	1,377
Less: Net loss attributable to noncontrolling interests									(2)		(2)
Net income attributable to Waste Management, Inc.									$ 2,299	$ 2,482	$ 1,379

Condensed Consolidating Finan_5

Condensed Consolidating Financial Statements - Statements of Comprehensive Income (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Condensed Statement Of Income Captions [Line Items]
Comprehensive income	$ 1,833	$ 2,037	$ 1,227
Less: Comprehensive loss attributable to noncontrolling interests	(2)		(2)
Comprehensive income attributable to Waste Management, Inc.	1,835	2,037	1,229
Eliminations [Member]
Condensed Statement Of Income Captions [Line Items]
Comprehensive income	(4,582)	(4,951)	(2,748)
Comprehensive income attributable to Waste Management, Inc.	(4,582)	(4,951)	(2,748)
WM [Member] | Reportable Legal Entities [Member]
Condensed Statement Of Income Captions [Line Items]
Comprehensive income	1,933	1,955	1,189
Comprehensive income attributable to Waste Management, Inc.	1,933	1,955	1,189
WM Holdings [Member] | Reportable Legal Entities [Member]
Condensed Statement Of Income Captions [Line Items]
Comprehensive income	2,283	2,469	1,369
Comprehensive income attributable to Waste Management, Inc.	2,283	2,469	1,369
Non-Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Condensed Statement Of Income Captions [Line Items]
Comprehensive income	2,199	2,564	1,417
Less: Comprehensive loss attributable to noncontrolling interests	(2)		(2)
Comprehensive income attributable to Waste Management, Inc.	$ 2,201	$ 2,564	$ 1,419

Condensed Consolidating Finan_6

Condensed Consolidating Financial Statements - Cash Flows (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Condensed Cash Flow Statements Captions [Line Items]
Operating activities	$ 3,570	$ 3,180	$ 3,003
Investing activities	(2,169)	(1,620)	(1,929)
Financing activities	(1,508)	(1,361)	(1,084)
Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents	(3)
Increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents	(110)	199	(10)
Cash, cash equivalents and restricted cash and cash equivalents at beginning of period	293	94	104
Cash, cash equivalents and restricted cash and cash equivalents at end of period	183	293	94
Non-Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Condensed Cash Flow Statements Captions [Line Items]
Operating activities	3,570	3,180	3,003
Investing activities	(2,169)	(1,620)	(1,929)
Financing activities	(1,508)	(1,361)	(1,084)
Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents	(3)
Increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents	(110)	199	(10)
Cash, cash equivalents and restricted cash and cash equivalents at beginning of period	293	94	104
Cash, cash equivalents and restricted cash and cash equivalents at end of period	$ 183	$ 293	$ 94