Waste Management (WM) 10-K 7 Feb 23 2022 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2022	Jan. 31, 2023	Jun. 30, 2022
Document and Entity Information
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2022
Entity File Number	1-12154
Entity Registrant Name	Waste Management, Inc
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	73-1309529
Entity Address, Address Line One	800 Capitol Street
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77002
City Area Code	713
Local Phone Number	512-6200
Title of 12(b) Security	Common Stock
Trading Symbol	WM
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		408,152,162
Auditor Firm ID	42
Auditor Name	ERNST & YOUNG LLP
Auditor Location	Houston, Texas
Entity Public Float			$ 63.1
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Entity Central Index Key	0000823768
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 351	$ 118
Accounts receivable, net of allowance for doubtful accounts of $26 and $25, respectively	2,461	2,278
Other receivables, net of allowance for doubtful accounts of $7 and $8, respectively	291	268
Parts and supplies	164	135
Other assets	284	270
Total current assets	3,551	3,069
Property and equipment, net of accumulated depreciation and depletion of $21,627 and $20,537, respectively	15,719	14,419
Goodwill	9,323	9,028
Other intangible assets, net	827	898
Restricted funds	348	348
Investments in unconsolidated entities	578	432
Other assets	1,021	903
Total assets	31,367	29,097
Current liabilities:
Accounts payable	1,766	1,375
Accrued liabilities	1,625	1,428
Deferred revenues	589	571
Current portion of long-term debt	414	708
Total current liabilities	4,394	4,082
Long-term debt, less current portion	14,570	12,697
Deferred income taxes	1,733	1,694
Landfill and environmental remediation liabilities	2,700	2,373
Other liabilities	1,106	1,125
Total liabilities	24,503	21,971
Commitments and contingencies (Note 10)
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	5,314	5,169
Retained earnings	13,167	12,004
Accumulated other comprehensive income (loss)	(69)	17
Treasury stock at cost, [000] and 214,158,636 shares, respectively	(11,569)	(10,072)
Total Waste Management, Inc. stockholders' equity	6,849	7,124
Noncontrolling interests	15	2
Total equity	6,864	7,126
Total liabilities and equity	$ 31,367	$ 29,097

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
CONSOLIDATED BALANCE SHEETS
Allowance for doubtful accounts	$ 26	$ 25
Allowance for other receivables	7	8
Accumulated depreciation and amortization	$ 21,627	$ 20,537
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	222,396,166	214,158,636

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
CONSOLIDATED STATEMENTS OF OPERATIONS
Operating revenues	$ 19,698	$ 17,931	$ 15,218
Costs and expenses:
Operating	12,294	11,111	9,341
Selling, general and administrative	1,938	1,864	1,728
Depreciation, depletion and amortization	2,038	1,999	1,671
Restructuring	1	8	9
(Gain) loss from divestitures, asset impairments and unusual items, net	62	(16)	35
Total costs and expenses	16,333	14,966	12,784
Income from operations	3,365	2,965	2,434
Other income (expense):
Interest expense, net	(378)	(365)	(425)
Loss on early extinguishment of debt, net		(220)	(53)
Equity in net losses of unconsolidated entities	(67)	(36)	(68)
Other, net	(2)	5	5
Total other income (expense)	(447)	(616)	(541)
Income before income taxes	2,918	2,349	1,893
Income tax expense	678	532	397
Consolidated net income	2,240	1,817	1,496
Less: Net income (loss) attributable to noncontrolling interests	2	1
Net income attributable to Waste Management, Inc.	$ 2,238	$ 1,816	$ 1,496
Basic earnings per common share	$ 5.42	$ 4.32	$ 3.54
Diluted earnings per common share	$ 5.39	$ 4.29	$ 3.52

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Consolidated net income	$ 2,240	$ 1,817	$ 1,496
Other comprehensive income (loss), net of tax:
Derivative instruments, net	3	9	15
Available-for-sale securities, net	(24)	(6)	11
Foreign currency translation adjustments	(65)	(28)	20
Post-retirement benefit obligations, net		3	1
Other comprehensive income (loss), net of tax	(86)	(22)	47
Comprehensive income	2,154	1,795	1,543
Less: Comprehensive income (loss) attributable to noncontrolling interests	2	1
Comprehensive income attributable to Waste Management, Inc.	$ 2,152	$ 1,794	$ 1,543

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Consolidated net income	$ 2,240	$ 1,817	$ 1,496
Adjustments to reconcile consolidated net income to net cash provided by operating activities:
Depreciation, depletion and amortization	2,038	1,999	1,671
Deferred income tax expense (benefit)	49	(77)	165
Interest accretion on landfill and environmental remediation liabilities	112	111	103
Provision for bad debts	50	37	54
Equity-based compensation expense	84	108	94
Net gain on disposal of assets	(21)	(25)	(9)
(Gain) loss from divestitures, asset impairments and other, net	62	(16)	43
Equity in net losses of unconsolidated entities, net of dividends	67	38	60
Loss on early extinguishment of debt, net		220	53
Change in operating assets and liabilities, net of effects of acquisitions and divestitures:
Receivables	(329)	28	(179)
Other current assets	(35)	(39)	10
Other assets	42	34	53
Accounts payable and accrued liabilities	393	206	(37)
Deferred revenues and other liabilities	(216)	(103)	(174)
Net cash provided by operating activities	4,536	4,338	3,403
Cash flows from investing activities:
Acquisitions of businesses, net of cash acquired	(377)	(75)	(4,085)
Capital expenditures	(2,587)	(1,904)	(1,632)
Proceeds from divestitures of businesses and other assets, net of cash divested	27	96	885
Other, net	(126)	(11)	(15)
Net cash used in investing activities	(3,063)	(1,894)	(4,847)
Cash flows from financing activities:
New borrowings	8,688	7,948	9,420
Debt repayments	(7,328)	(8,404)	(9,629)
Premiums and other paid on early extinguishment of debt		(211)	(30)
Common stock repurchase program	(1,500)	(1,350)	(402)
Cash dividends	(1,077)	(970)	(927)
Exercise of common stock options	44	66	63
Tax payments associated with equity-based compensation transactions	(39)	(28)	(34)
Other, net	(4)	49	(20)
Net cash used in financing activities	(1,216)	(2,900)	(1,559)
Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents	(6)	2	4
Increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents	251	(454)	(2,999)
Cash, cash equivalents and restricted cash and cash equivalents at beginning of period	194	648	3,647
Cash, cash equivalents and restricted cash and cash equivalents at end of period	$ 445	$ 194	$ 648

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of cash, cash equivalents and restricted cash and cash equivalents at end of period:
Cash and cash equivalents	$ 351	$ 118	$ 553
Restricted cash and cash equivalents included in other current assets	$ 25	$ 7	$ 28
Restricted Cash and Cash Equivalents, Current, Statement of Financial Position [Extensible Enumeration]	Other Assets, Current	Other Assets, Current	Other Assets, Current
Restricted cash and cash equivalents included in restricted funds	$ 69	$ 69	$ 67
Restricted Cash and Cash Equivalents, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Restricted Cash and Investments, Noncurrent	Restricted Cash and Investments, Noncurrent	Restricted Cash and Investments, Noncurrent
Cash, cash equivalents and restricted cash and cash equivalents at end of period	$ 445	$ 194	$ 648

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Millions	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member] Cumulative Effect, Period of Adoption, Adjustment [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Treasury Stock [Member]	Noncontrolling Interests [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]	Total
Beginning balance at Dec. 31, 2019	$ 6	$ 5,049	$ (2)	$ 10,592	$ (8)	$ (8,571)	$ 2	$ (2)	$ 7,070
Beginning balance, common shares at Dec. 31, 2019	630,282,000
Beginning balance, treasury shares at Dec. 31, 2019						(205,956,000)
Equity roll forward
Consolidated net income				1,496					1,496
Other comprehensive income (loss), net of tax					47				47
Cash dividends declared				(927)					(927)
Equity-based compensation transactions, net		80		1		$ 91			172
Equity-based compensation transactions, net, shares						2,158,000
Common stock repurchase program						$ (402)			$ (402)
Common stock repurchase program, shares						(3,687,000)			(3,687,000)
Other, net				(1)		$ 1
Other, net, shares						4,000
Ending balance at Dec. 31, 2020	$ 6	5,129		11,159	39	$ (8,881)	2		$ 7,454
Ending balance, common shares at Dec. 31, 2020	630,282,000								422,800,000
Ending balance, treasury shares at Dec. 31, 2020						(207,481,000)
Equity roll forward
Consolidated net income				1,816			1		$ 1,817
Other comprehensive income (loss), net of tax					(22)				(22)
Cash dividends declared				(970)					(970)
Equity-based compensation transactions, net		110		(1)		$ 89			198
Equity-based compensation transactions, net, shares						2,049,000
Common stock repurchase program		(70)				$ (1,280)			$ (1,350)
Common stock repurchase program, shares						(8,731,000)			(8,731,000)
Other, net							(1)		$ (1)
Other, net, shares						4,000
Ending balance at Dec. 31, 2021	$ 6	5,169		12,004	17	$ (10,072)	2		$ 7,126
Ending balance, common shares at Dec. 31, 2021	630,282,000								416,100,000
Ending balance, treasury shares at Dec. 31, 2021						(214,159,000)			(214,158,636)
Equity roll forward
Consolidated net income				2,238			2		$ 2,240
Other comprehensive income (loss), net of tax					(86)				(86)
Cash dividends declared				(1,077)					(1,077)
Equity-based compensation transactions, net		75		2		$ 73			150
Equity-based compensation transactions, net, shares						1,555,000
Common stock repurchase program		70				$ (1,570)			$ (1,500)
Common stock repurchase program, shares						(9,796,000)			(9,796,000)
Other, net							11		$ 11
Other, net, shares						4,000
Ending balance at Dec. 31, 2022	$ 6	$ 5,314		$ 13,167	$ (69)	$ (11,569)	$ 15		$ 6,864
Ending balance, common shares at Dec. 31, 2022	630,282,000								407,900,000
Ending balance, treasury shares at Dec. 31, 2022						(222,396,000)			(222,396,166)

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
Cash dividends declared per common share	$ 2.60	$ 2.30	$ 2.18

Basis of Presentation

Basis of Presentation	12 Months Ended
	Dec. 31, 2022
Basis of Presentation
Basis of Presentation	1. Basis of Presentation 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., together with its consolidated subsidiaries and consolidated variable interest entities. When we use the term “WMI,” we are referring only to Waste Management, Inc., the parent holding company. We are North America’s leading provider of comprehensive environmental solutions, providing services throughout the United States (“U.S.”) and Canada. 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 provide collection, transfer, disposal, and recycling and resource recovery services. Through our subsidiaries, including our Waste Management Renewable Energy (“WM Renewable Energy”) business, we are also a leading developer, operator and owner of landfill gas-to-energy facilities in the U.S and Canada that produce renewable electricity and renewable natural gas, which is a significant source of fuel for our natural gas fleet. Our senior management evaluates, oversees and manages the financial performance of our Solid Waste operations through two operating segments. Our East Tier primarily consists of geographic areas located in the Eastern U.S., the Great Lakes region and substantially all of Canada. Our West Tier primarily includes geographic areas located in the Western U.S., including the upper Midwest region, and British Columbia, Canada. Each of our Solid Waste operating segments provides integrated environmental services, including collection, transfer, recycling, and disposal. The East and West Tiers are presented in this report and constitute our existing Solid Waste business. On October 30, 2020, we acquired Advanced Disposal Services, Inc. (“Advanced Disposal”), the operations of which are presented in this report within our existing Solid Waste tiers. 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 acquisition of Advanced Disposal and segments is included in Notes 17 and 19, respectively. 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, 2022
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Principles of Consolidation The accompanying Consolidated Financial Statements include the accounts of WMI, 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, intangible asset impairments and the fair value of assets and liabilities acquired in business combinations. 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 restricted funds, 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, 2022 and 2021, 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 as well as expected 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. 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. The following table reflects the activity in our allowance for doubtful accounts of trade receivables for the year ended December 31 (in millions): ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Balance as of January 1 ​ $ 25 ​ $ 33 Additions charged to expense ​ 55 ​ 35 Accounts written-off, net of recoveries ​ (49) ​ (36) Acquisitions, divestitures and other, net ​ (5) ​ (7) Balance as of December 31 ​ $ 26 ​ $ 25 ​ To determine the allowance for doubtful accounts for trade receivables, we rely upon, among other factors, historical loss trends, the age of outstanding receivables, and existing as well as expected economic conditions. We determined that all of our trade receivables share similar risk characteristics. We monitor our credit exposure on an ongoing basis and assess whether assets in the pool continue to display similar risk characteristics. Based on aging analysis as of both December 31, 2022 and 2021, approximately 90% of our trade receivables were outstanding less than 60 days. To determine the allowance for doubtful accounts for other receivables, as well as loans and other instruments, we rely primarily on credit ratings and associated default rates based on the maturity of the instrument. Other receivables, as of December 31, 2022 and 2021, include receivables related to income tax payments in excess of our current income tax obligations of $150 million and $166 million, respectively. Other receivables as of December 31, 2022 and 2021 also include a receivable of $19 million and $14 million, respectively, related to alternative fuel tax credits. Based on an aging analysis as of December 31, 2022 and 2021, approximately 55% and 60%, respectively, of our other receivables were due within 12 months or less. 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 — Final Capping, Closure and Post-Closure Costs — ● Final Capping — Generally 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 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 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. As of December 31, 2022, 2021 and 2020, we inflated these costs in current dollars to the expected time of payment using an inflation rate of 2.50%, 2.25% and 2.25%, respectively. 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, 2022 was approximately 4.8%. We record the estimated fair value of final capping, closure and post-closure liabilities for our landfills based on the airspace 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. Sustained 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 permitted and expansion airspace (as defined below) of the related discrete final capping event or the remaining permitted and expansion airspace of the landfill, as appropriate. Any changes related to the capitalized and future cost of the landfill assets are then recognized in accordance with our landfill depletion policy (previously landfill amortization policy), which would generally result in depletion expense being recognized prospectively over the remaining permitted and expansion airspace of the final capping event or the remaining permitted and expansion airspace of the landfill, as appropriate. Changes in such estimates associated with a fully consumed landfill result in an adjustment to the recorded liability and landfill assets with an immediate corresponding adjustment to landfill airspace depletion expense. Interest accretion on final capping, closure and post-closure liabilities is recorded using the effective interest method and is recorded as landfill operating costs, which is included in operating expenses within our Consolidated Statements of Operations. Depletion of Landfill Assets — Depletion 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 depletable 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 airspace 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, for unpermitted airspace to be initially included in our estimate of remaining permitted and expansion airspace, we must believe that obtaining the expansion permit is likely. Second, 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, in addition to meeting 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. 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 on a quarterly basis. Of the 16 landfill sites with expansions included as of December 31, 2022, 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 five-year 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 depletable 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 consider 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 depletion 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 earnings may be experienced due to higher depletion rates or higher expenses; or higher earnings 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 depletion 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 and determine our estimated cost for the likely remedy based on a number of estimates and assumptions. 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 $135 million higher than the $204 million recorded in the Consolidated Balance Sheet as of December 31, 2022. 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 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. As of December 31, 2022, 2021 and 2020, we inflated the costs by 2.50%, 2.25% and 2.25%, respectively, and discounted the costs by 3.75%, 1.50% and 1.00%, respectively. Our discount rate has increased since 2020 as a result of the overall increase in the 10-year Treasury rates. 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 year ended December 31 (in millions) and the risk-free discount rate applied as of December 31: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 ​ Increase (decrease) in operating expenses ​ $ (14) ​ $ (4) ​ $ 8 ​ Risk-free discount rate applied to environmental remediation liabilities and recovery assets ​ 3.75 % 1.50 % 1.00 % ​ 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 $31 million as of December 31, 2022 and 2021. Had we not inflated and discounted any portion of our environmental remediation liability, the amount recorded would have increased by $10 million and decreased by $6 million as of December 31, 2022 and 2021, respectively. 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 generally 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 10 Vehicles — rail haul cars 10 30 Machinery and equipment — including containers 3 30 Buildings and improvements 5 40 Furniture, fixtures and office equipment 3 10 ​ Leases We lease property and equipment in the ordinary course of our business. Our operating lease activities primarily consist of leases for real estate, landfills and operating equipment. Our financing lease activities primarily consist of leases for operating equipment, railcars and landfill assets. 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 financing leases, as appropriate. Operating Leases (excluding landfill leases discussed below) — Financing Leases (excluding landfill leases discussed below) — Landfill Leases — For operating and financing leases, including landfill leases, our rent expense for each of the last three years and future minimum lease payments are disclosed in Note 7. 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 — Acquired Assets and Assumed Liabilities — 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. See Note 17 for additional information related to our acquisitions, including our 2020 acquisition of Advanced Disposal. 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 Other intangible assets consist primarily of customer and supplier relationships, covenants not-to-compete, licenses, permits (other than landfill permits, which are combined with landfill tangible assets and depleted per our landfill depletion 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 terms of 10 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 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 — We first perform a qualitative assessment to determine if it is more likely than not that the fair value of a reporting unit is less than its carrying value. If the assessment indicates a possible impairment, we complete a quantitative review, comparing the estimated fair value of a reporting unit to its carrying amount, including goodwill. An impairment charge is recognized if the asset’s estimated fair value is less than its carrying amount. Fair value is typically estimated using an income approach using Level 3 inputs. 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 We have retained a significant portion of the risks related to our health and welfare, general liability, automobile liability and workers’ compensation claims programs. 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 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. We 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. WMI pays an annual premium to the insurance captive on behalf of WMI and its insured subsidiaries, typica

Landfill and Environmental Reme

Landfill and Environmental Remediation Liabilities	12 Months Ended
	Dec. 31, 2022
Landfill and Environmental Remediation Liabilities
Landfill and Environmental Remediation Liabilities	3. Landfill and Environmental Remediation Liabilities Liabilities for landfill and environmental remediation costs as of December 31 are presented in the table below (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ 2021 ​ ​ ​ ​ ​ Environmental ​ ​ ​ ​ ​ ​ ​ Environmental ​ ​ ​ ​ Landfill Remediation Total Landfill Remediation Total Current (in accrued liabilities) $ 137 ​ $ 31 ​ $ 168 ​ $ 137 ​ $ 29 ​ $ 166 Long-term ​ 2,527 ​ 173 ​ 2,700 2,189 ​ 184 ​ 2,373 ​ $ 2,664 ​ $ 204 ​ $ 2,868 ​ $ 2,326 ​ $ 213 ​ $ 2,539 ​ The changes to landfill and environmental remediation liabilities for the year ended December 31, 2022 are reflected in the table below (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Environmental ​ Landfill Remediation December 31, 2021 ​ $ 2,326 ​ $ 213 Obligations incurred and capitalized ​ 114 — Obligations settled ​ (121) (28) Interest accretion ​ 108 4 Revisions in estimates and interest rate assumptions (a) ​ 243 15 Acquisitions, divestitures and other adjustments ​ (6) — December 31, 2022 ​ $ 2,664 ​ $ 204 (a) In 2021, the increase in our landfill liabilities for revisions in estimates and interest rate assumptions was $33 million. The increase in our landfill liabilities in 2022 is primarily due to inflationary cost pressures that are expected to impact costs over the remaining landfill lives. Our recorded liabilities as of December 31, 2022 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 $31 million in 2023, $43 million in 2024, $29 million in 2025, $19 million in 2026, $16 million in 2027 and $76 million thereafter.

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment
Property and Equipment	4. Property and Equipment Property and equipment as of December 31 consisted of the following (in millions): ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Land ​ $ 752 ​ $ 732 Landfills ​ 18,526 ​ 17,734 Vehicles ​ 6,173 ​ 5,893 Machinery and equipment ​ 4,401 ​ 3,571 Containers ​ 3,021 ​ 2,807 Buildings and improvements ​ 3,809 ​ 3,542 Furniture, fixtures and office equipment ​ ​ 664 ​ ​ 677 ​ ​ 37,346 ​ 34,956 Less: Accumulated depreciation of tangible property and equipment ​ (10,731) ​ (10,147) Less: Accumulated depletion of landfill airspace ​ (10,896) ​ ​ (10,390) Property and equipment, net ​ $ 15,719 ​ $ 14,419 ​ See Note 11 for information regarding asset impairments. Depreciation and depletion expense, including for assets recorded as financing leases, consisted of the following for the year ended December 31 (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 Depreciation of tangible property and equipment ​ $ 1,155 ​ $ 1,125 ​ $ 996 Depletion of landfill airspace ​ 754 ​ ​ 731 ​ ​ 568 Depreciation and depletion expense ​ $ 1,909 ​ $ 1,856 ​ $ 1,564 ​ See Note 5 for information regarding amortization of our intangible assets.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
	Dec. 31, 2022
Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets	5. Goodwill and Other Intangible Assets Goodwill was $9,323 million and $9,028 million as of December 31, 2022 and 2021, respectively. The $295 million increase in goodwill during 2022 is primarily related to acquisitions. As discussed in Note 2, 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. See Notes 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 2022 ​ ​ ​ ​ Intangible assets ​ $ 1,288 ​ $ 51 ​ $ 141 ​ $ 1,480 Less: Accumulated amortization ​ (543) ​ (23) ​ (87) ​ (653) ​ ​ $ 745 ​ $ 28 ​ $ 54 ​ $ 827 2021 ​ ​ ​ ​ Intangible assets ​ $ 1,355 ​ $ 43 ​ $ 142 ​ $ 1,540 Less: Accumulated amortization ​ ​ (538) ​ (26) ​ (78) ​ ​ (642) ​ ​ $ 817 ​ $ 17 ​ $ 64 ​ $ 898 ​ Amortization expense for other intangible assets was $129 million, $143 million and $107 million for 2022, 2021 and 2020, respectively. The decrease in amortization expense in 2022 was primarily due to decreasing amortization under the 150% declining balance approach for intangible assets from the acquisition of Advanced Disposal. Amortization expense for other intangible assets for 2021 increased, as compared with 2020, due to the amortization of acquired intangible assets related to our acquisition of Advanced Disposal. Additional information related to other intangible assets acquired through business combinations is included in Note 17. As of December 31, 2022 and 2021, we had $19 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. As of December 31, 2022, we expect annual amortization expense related to other intangible assets to be $120 million in 2023, $110 million in 2024, $101 million in 2025, $80 million in 2026 and $75 million in 2027.

Debt

Debt	12 Months Ended
	Dec. 31, 2022
Debt
Debt	6. 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: ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Commercial paper program (weighted average interest rate of 4.9% as of December 31, 2022 and 0.4% as of December 31, 2021) ​ $ 1,730 ​ $ 1,778 Senior notes, maturing through 2050, interest rates ranging from 0.75% to 7.75% (weighted average interest rate of 3.2% as of December 31, 2022 and 3.1% as of December 31, 2021) ​ 8,626 ​ 8,126 Term Loan maturing May 2024, interest rate of 5.1% as of December 31, 2022 ​ ​ 1,000 ​ ​ — Canadian senior notes, C$500 million maturing September 2026, interest rate of 2.6% ​ ​ 369 ​ ​ 395 Tax-exempt bonds, maturing through 2048, fixed and variable interest rates ranging from 0.4% to 4.4% (weighted average interest rate of 2.7% as of December 31, 2022 and 1.4% as of December 31, 2021) ​ 2,648 ​ 2,619 Financing leases and other, maturing through 2071, weighted average interest rate of 4.7% as of December 31, 2022 and 4.5% as of December 31, 2021) (a) ​ 699 ​ 567 Debt issuance costs, discounts and other ​ (88) ​ (80) ​ ​ 14,984 ​ 13,405 Current portion of long-term debt ​ 414 ​ 708 Long-term debt, less current portion ​ $ 14,570 ​ $ 12,697 (a) Excluding our landfill financing leases, the maturities of our financing leases and other debt obligations extend through 2059. Debt Classification As of December 31, 2022, we had approximately $3.1 billion of debt maturing within the next 12 months, including (i) $1.7 billion of short-term borrowings under our commercial paper program (net of related discount on issuance); (ii) $725 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) $500 million of 2.4% senior notes that mature in May 2023 and (iv) $192 million of other debt with scheduled maturities within the next 12 months, including $65 million of tax-exempt bonds. As of December 31, 2022, we have classified $2.7 billion 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 $3.5 billion long-term U.S. and Canadian revolving credit facility (“$3.5 billion revolving credit facility”), as discussed below. The remaining $414 million of debt maturing in the next 12 months is classified as current obligations. Access to and Utilization of Credit Facilities, Commercial Paper Program and Term Loan $3.5 Billion Revolving Credit Facility — The $3.5 billion revolving credit facility provides us with credit capacity to be used for cash borrowings, to support letters of credit or to support our commercial paper program. The interest rates we pay on outstanding U.S. or Canadian loans are based on a secured overnight financing rate administered by the Federal Reserve Bank of New York (“SOFR”) or the Canadian Dollar Offered Rate (“CDOR”), respectively, plus a spread depending on WMI’s senior public debt rating assigned by Moody’s Investors Service, Inc. and Standard and Poor’s Global Ratings. The spread above SOFR or CDOR can range from 0.585% to 1.025% per annum, plus a credit adjustment spread of 0.10% per annum on SOFR-based rates (the “SOFR Credit Adjustment Spread”) to account for the transition from the use of LIBOR to SOFR in such rate calculations. We also pay certain other fees set forth in the $3.5 billion revolving credit facility agreement, including a facility fee based on the aggregate commitment, regardless of usage. As of December 31, 2022, we had no outstanding borrowings under this facility. We had $166 million of letters of credit issued and $1.7 billion of outstanding borrowings (net of related discount on issuance) under our commercial paper program, both supported by the facility, leaving unused and available credit capacity of $1.6 billion as of December 31, 2022. Commercial Paper Program $1.0 Billion, Two-Year, Term Credit Agreement Other Letter of Credit Lines — Debt Borrowings and Repayments Commercial Paper Program Term Loan Senior Notes ​ Tax-Exempt Bonds — Financing Leases and Other — Scheduled Debt Payments Principal payments of our debt for the next five years and thereafter, based on scheduled maturities are as follows: $2,423 million in 2023, $1,290 million in 2024, $1,324 million in 2025, $673 million in 2026, $1,163 million in 2027 and $8,275 million thereafter. Our recorded debt and financing lease obligations include non-cash adjustments associated with debt issuance costs, discounts 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. As discussed above, we have the intent and ability to refinance certain 2023 scheduled maturities on a long-term basis, including our $500 million of 2.4% senior notes that mature in May 2023. See Note 7 below for further discussion of our financing lease arrangements. Secured Debt Our debt balances are generally unsecured, except for financing lease obligations and the notes payable associated with our investments in low-income housing properties. See Notes 8 and 18 for additional information related to these investments. 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 both our $3.5 billion revolving credit facility and Term Loan, which sets forth a maximum total debt to consolidated earnings before interest, taxes, depreciation, depletion and amortization ratio (the “Leverage Ratio”). This covenant requires that the Leverage Ratio for the preceding four fiscal quarters will not be more than 3.75 to 1, provided that if an acquisition permitted under the $3.5 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 4.25 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 $3.5 billion revolving credit facility, and the Leverage Ratio must return to 3.75 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 $3.5 billion revolving credit facility. As of December 31, 2022 and 2021, we were in compliance with our Leverage Ratio covenant. Our $3.5 billion revolving credit facility, Term Loan, 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 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, 2022 and 2021, we were in compliance with all covenants and restrictions under our financing arrangements, in addition to our Leverage Ratio covenant, that may have a material effect on our Consolidated Financial Statements.

Leases

Leases	12 Months Ended
	Dec. 31, 2022
Leases
Leases	7. Leases Our operating lease activities primarily consist of leases for real estate, landfills (refer to Note 2 for further detail) and operating equipment. Our financing lease activities primarily consist of leases for operating equipment, railcars and landfill assets. Leases with an initial term of 12 months or less, which are not expected to be renewed beyond one year, are not recorded on the balance sheet and are recognized as lease expense on a straight-line basis over the lease term. Most leases include one or more options to renew, with renewal terms generally ranging from one term, unless there is a transfer of title or purchase option reasonably certain of exercise. Certain of our lease agreements include rental payments based on usage and other lease agreements include rental payments adjusted periodically for inflation; these payments are treated as variable lease payments. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. When the implicit interest rate is not readily available for our leases, we discount future cash flows of the remaining lease payments using the current interest rate that would be paid to borrow on collateralized debt over a similar term, or incremental borrowing rate, at the commencement date. Supplemental balance sheet information for our leases as of December 31 is as follows (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ Leases Classification 2022 2021 Assets ​ ​ ​ ​ ​ ​ ​ Long-term: ​ ​ ​ ​ ​ ​ ​ Operating ​ Other assets ​ $ 456 ​ $ 451 Financing ​ Property and equipment, net of accumulated depreciation and depletion ​ ​ 328 ​ ​ 364 Total lease assets ​ ​ ​ $ 784 ​ $ 815 ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ Current: ​ ​ ​ ​ ​ ​ ​ ​ Operating ​ Accrued liabilities ​ $ 64 ​ $ 64 Financing ​ Current portion of long-term debt ​ ​ 44 ​ ​ 47 Long-term: ​ ​ ​ ​ ​ ​ ​ ​ Operating ​ Other liabilities ​ ​ 460 ​ ​ 459 Financing ​ Long-term debt, less current portion ​ ​ 258 ​ ​ 291 Total lease liabilities ​ ​ ​ $ 826 ​ $ 861 ​ Operating lease expense was $183 million, $155 million and $140 million during 2022, 2021 and 2020, respectively, and is included in operating and selling, general and administrative expenses in our Consolidated Statements of Operations. Financing lease expense was $55 million, $58 million and $51 million during 2022, 2021 and 2020, respectively, and is included in depreciation, depletion and amortization expense and interest expense, net in our Consolidated Statements of Operations. Minimum contractual obligations for our leases (undiscounted) as of December 31, 2022 are as follows (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating ​ Financing 2023 $ 78 ​ $ 52 2024 ​ 71 ​ ​ 46 2025 ​ 59 ​ ​ 56 2026 ​ 52 ​ ​ 36 2027 ​ ​ 40 ​ ​ 28 Thereafter ​ ​ 414 ​ ​ 169 Total undiscounted lease payments ​ $ 714 ​ $ 387 Less: interest ​ ​ (190) ​ ​ (85) Discounted lease liabilities ​ $ 524 ​ $ 302 ​ As of December 31, 2022, we entered into operating and financing leases, primarily for real estate and equipment, that have not yet commenced and therefore are not reflected in the table above, with future lease payments of $52 million and $50 million, respectively. These leases commence through 2024 and have non-cancelable lease terms up to 17 years. Cash paid during 2022 for our operating and financing leases was $76 million and $56 million, respectively. During 2022, right-of-use assets obtained in exchange for lease obligations for our operating and financing leases were $69 million and $33 million, respectively. Cash paid during 2021 for our operating and financing leases was $70 million and $64 million, respectively. During 2021, right-of-use assets obtained in exchange for lease obligations for our operating and financing leases were $69 million and $36 million, respectively. As of December 31, 2022, the weighted average remaining lease terms of our operating and financing leases were approximately 19 years and 11 years, respectively. The weighted average discount rates used to determine the lease liabilities as of December 31, 2022 for our operating and financing leases were approximately 3.0% and 4.0%, respectively.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2022
Income Taxes
Income Taxes	8. Income Taxes Income Tax Expense Our income tax expense consisted of the following for the year ended December 31 (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 Current: ​ ​ ​ Federal ​ $ 456 ​ $ 436 ​ $ 114 State ​ 130 ​ 132 ​ 91 Foreign ​ 43 ​ ​ 41 ​ ​ 27 ​ ​ 629 ​ ​ 609 ​ ​ 232 Deferred: ​ ​ ​ ​ ​ Federal ​ 20 ​ ​ (55) ​ ​ 149 State ​ 30 ​ ​ (22) ​ ​ 10 Foreign ​ (1) ​ ​ — ​ ​ 6 ​ ​ 49 ​ ​ (77) ​ ​ 165 Income tax expense ​ $ 678 ​ $ 532 ​ $ 397 ​ The U.S. federal statutory income tax rate is reconciled to the effective income tax rate for the year ended December 31 as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 ​ 2020 Income tax expense at U.S. federal statutory rate 21.00 % 21.00 % ​ 21.00 % State and local income taxes, net of federal income tax benefit 4.16 4.14 ​ 4.46 ​ Federal tax credits (2.81) (2.69) ​ (3.78) ​ Taxing authority audit settlements and other tax adjustments 0.54 0.53 ​ (0.17) ​ Tax impact of equity-based compensation transactions (0.45) (0.60) ​ (1.12) ​ Tax impact of impairments 0.02 (0.29) ​ (0.35) ​ Tax rate differential on foreign income 0.27 0.37 ​ 0.33 ​ Other 0.51 0.16 ​ 0.57 ​ Effective income tax rate 23.24 % 22.62 % ​ 20.94 % ​ 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) federal tax credits; (iii) excess tax benefits associated with equity-based compensation transactions; (iv) the realization of state net operating losses and credits; (v) tax audit settlements; (vi) adjustments to our accruals and deferred taxes; (vii) the tax implications of divestitures and (viii) non-deductible transaction costs. For financial reporting purposes, income before income taxes by source for the year ended December 31 was as follows (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 Domestic ​ $ 2,779 ​ $ 2,211 ​ $ 1,780 Foreign ​ 139 ​ ​ 138 ​ ​ 113 Income before income taxes ​ $ 2,918 ​ $ 2,349 ​ $ 1,893 ​ Investments Qualifying for Federal Tax Credits — 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, 2022, 2021 and 2020, we recognized net losses of $65 million, $51 million and $73 million (including the $7 million impairment of the refined coal facility noted above), respectively, and a reduction in our income tax expense of $99 million, $74 million and $87 million, respectively, due to tax credits realized from these investments as well as the tax benefits from the pre-tax losses realized. In addition, during the years ended December 31, 2022, 2021 and 2020, we recognized interest expense of $14 million, $9 million and $11 million, respectively, associated with our investments in low-income housing properties. See Note 18 for additional information related to these unconsolidated variable interest entities. Equity-Based Compensation State Net Operating Losses and Credits — Tax Audit Settlements — 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. In the fourth quarter of 2022, the Company received a notice of tax due for the 2017 tax year related to a remaining disagreement with the IRS. In response to the notice, the Company made a deposit of approximately $103 million with the IRS. The Company expects to seek a refund of the entire amount deposited with the IRS and litigate any denial of the claim for refund. As of December 31, 2022, the IRS deposit, net of reserve for uncertain tax positions, is classified as a component of other long-term assets in the Company’s Consolidated Balance Sheet. In addition, we are in the examination phase of an IRS audit for the 2022 tax year and expect the audit to be completed within the next 18 months. We are also currently undergoing audits by various state and local jurisdictions for tax years that date back to 2014. Adjustments to Accruals and Related Deferred Taxes Tax Implications of Divestitures Non-Deductible Transaction Costs Tax Legislation Unremitted Earnings in Foreign Subsidiaries — Deferred Tax Assets (Liabilities) The components of net deferred tax liabilities as of December 31 are as follows (in millions): ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Deferred tax assets: ​ ​ Net operating loss, capital loss and tax credit carry-forwards ​ $ 155 ​ $ 189 Landfill and environmental remediation liabilities ​ 216 ​ 238 Operating lease liabilities ​ 131 ​ 135 Miscellaneous and other reserves, net ​ 117 ​ 113 Subtotal ​ 619 ​ 675 Valuation allowance ​ (143) ​ (158) Deferred tax liabilities: ​ ​ Property and equipment ​ (1,061) ​ (1,064) Goodwill and other intangibles ​ (1,034) ​ (1,027) Operating lease right-of-use assets ​ (114) ​ (120) Net deferred tax liabilities ​ $ (1,733) ​ $ (1,694) ​ As of December 31, 2022, we had $6 million of federal net operating loss carry-forwards with expiration dates through 2026 and $2.5 billion of state net operating loss carry-forwards with expiration dates through 2042. We also had $27 million of federal capital loss carry-forwards with expiration dates through 2026, $39 million of foreign tax credit carry-forwards with expiration dates through 2032 and $8 million of state tax credit carry-forwards with expiration dates through 2038. 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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 Balance as of January 1 ​ $ 64 ​ $ 37 ​ $ 40 Additions based on tax positions related to the current year ​ 5 ​ 22 ​ 5 Additions based on tax positions of prior years ​ — ​ 18 ​ — Accrued interest ​ 1 ​ 3 ​ 2 Settlements ​ — ​ (12) ​ — Lapse of statute of limitations ​ (6) ​ (4) ​ (10) Balance as of December 31 ​ $ 64 ​ $ 64 ​ $ 37 ​ These liabilities are included as a component of other long-term liabilities or as an offset to other long-term assets 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, 2022, we had $53 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 material 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, 2022
Employee Benefit Plans
Employee Benefit Plans	9. Employee Benefit Plans Defined Contribution Plans — Defined Benefit Plans (other than multiemployer defined benefit pension plans discussed below) — 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 $8 million and $12 million as of December 31, 2022 and 2021, respectively. Our accrued benefit liabilities for our defined benefit pension and other post-retirement plans are included as components of accrued liabilities and long-term other liabilities in our Consolidated Balance Sheets. Multiemployer Defined Benefit Pension Plans — 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 (dollars in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Expiration Date ​ ​ ​ ​ Pension Protection Act ​ ​ ​ Company ​ of Collective ​ ​ EIN/Pension Plan ​ Reported Status(a) ​ FIP/RP ​ Contributions ​ Bargaining Pension Fund Number 2022 2021 Status(b)(c) 2022 2021 2020 Agreement(s) Automotive Industries Pension Plan EIN: 94-1133245; Critical and Declining Critical and Declining Implemented ​ $ 1 ​ $ 1 ​ $ 1 6/30/2025 Midwest Operating Engineers Pension Trust Fund ​ EIN: 36-6140097; ​ Not Endangered or Critical as of 3/31/2022 ​ Not Endangered or Critical as of 3/31/2021 ​ Implemented ​ ​ 2 ​ ​ 2 ​ ​ 2 ​ Various dates Suburban Teamsters of Northern Illinois Pension Plan (d) EIN: 36-6155778; Not Endangered or Critical Not Endangered or Critical Implemented ​ 4 ​ 4 ​ 3 Various dates through 9/30/2027 Western Conference of Teamsters Pension Plan EIN: 91-6145047; Not Endangered or Critical Not Endangered or Critical Not ​ 37 ​ 35 ​ 33 Various dates ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 44 ​ $ 42 ​ $ 39 ​ ​ Contributions to other Multiemployer Pension Plans ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 17 ​ ​ 19 ​ ​ 15 ​ ​ Total contributions to Multiemployer Pension Plans (e) ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 61 ​ $ 61 ​ $ 54 ​ ​ (a) Unless otherwise noted in the table above, the most recent Pension Protection Act zone status available in 2022 and 2021 is for the plan’s year-end as of December 31, 2021 and 2020, 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 . (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, 2021 and 2020. (e) Total contributions to Multiemployer Pension Plans exclude contributions related to withdrawal liabilities. 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. Refer to Note 10 for additional information related to our obligations to Multiemployer Pension Plans. Multiemployer Plan Benefits Other Than Pensions —

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies.
Commitments and Contingencies	10. Commitments and Contingencies Financial Instruments — Management does not expect that any claims against or draws on these instruments would have a material adverse effect on our 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 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. We use a wholly-owned insurance captive to insure the deductibles for our general liability, automobile liability and workers’ compensation claims programs. Our receivable balance associated with insurance claims was $142 million and $155 million as of December 31, 2022 and 2021 respectively. The changes to our insurance reserves for the year ended December 31 are summarized below (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022(a) 2021 Balance as of January 1 ​ $ 734 ​ $ 664 Self-insurance expense ​ 242 ​ 240 Cash paid and other ​ ​ (247) ​ ​ (170) Balance as of December 31 ​ $ 729 ​ $ 734 Current portion as of December 31 ​ $ 189 ​ $ 191 Long-term portion as of December 31 ​ $ 540 ​ $ 543 (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. Unconditional Purchase Obligations ● 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. We generally fulfill our minimum contractual obligations by disposing of volumes collected in the ordinary course of business at these disposal facilities. ● Other — We are party to certain multi-year service agreements expiring at various dates through 2030 requiring minimum annual payments. As of December 31, 2022, our estimated minimum obligations associated with unconditional purchase obligations, which are not recognized in our Consolidated Balance Sheets, were $192 million in 2023, $158 million in 2024, $114 million in 2025, $101 million in 2026, $34 million in 2027 and $369 million thereafter. We may also establish unconditional purchase obligations in conjunction with acquisitions or divestitures. Our 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, 2022. 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 or contractually stated amounts. 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. Other Commitments ● 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 financing leases and other debt obligations in our Consolidated Balance Sheets as disclosed in Note 6. Guarantees — ● As of December 31, 2022, WM Holdings has fully and unconditionally guaranteed all of WMI’s senior indebtedness, including its senior notes which mature through 2050, $3.5 billion revolving credit facility, Term Loan and certain letter of credit lines. WMI 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. ● WMI and WM Holdings have guaranteed subsidiary debt obligations, including tax-exempt bonds, financing leases and other indebtedness. If a subsidiary fails to meet its obligations associated with its debt agreements as they come due, WMI 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 6 for information related to the balances and maturities of these debt obligations. ● 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, 2022, we have agreements guaranteeing certain market value losses for certain properties adjacent to or near 17 of our landfills. Any liability associated with the triggering of the home value guarantee has been reflected in our Consolidated Balance Sheets. We do not believe that the remaining contingent obligations will have a material adverse effect on the Company’s business, 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. ● WMI 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 financing leases, as appropriate. Environmental Matters — As of December 31, 2022, we have been notified by the government that we are a PRP in connection with 73 locations listed on the Environmental Protection Agency’s (“EPA’s”) Superfund National Priorities List (“NPL”). Of the 73 sites at which claims have been made against us, 14 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 characterize 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 59 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 River Waste Pits Site in Harris County, Texas. McGinnes Industrial Maintenance Corporation (“MIMC”), a subsidiary of Waste Management of Texas, Inc., operated some of the waste pits from 1965 to 1966 and has been named as a site PRP. In 1998, WMI 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 proposed remedy for the site, and we recorded a liability for MIMC’s estimated potential share of the EPA’s proposed remedy and related costs, although allocation of responsibility among the PRPs for the proposed remedy has not been established. MIMC and International Paper Company have continued to work on a remedial design to support the EPA’s proposed remedy; however, design investigations indicate that fundamental changes are required to the proposed remedy and MIMC maintains its prior position that the remedy set forth in the ROD is not the best solution to protect the environment and public health. Due to further increases in the estimated cost of the remedy set forth in the ROD, we recorded an additional liability of $17 million as of March 31, 2022 for MIMC’s estimated potential share of such costs. As of December 31, 2022 and 2021, the recorded liability for MIMC’s estimated potential share of the EPA’s proposed remedy was $68 million and $53 million, respectively. MIMC’s ultimate liability could be materially different from current estimates and MIMC will continue to engage the EPA regarding its proposed remedy. 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, below a stated threshold. In accordance with this SEC regulation, the Company uses a threshold of $1 million for purposes of determining whether disclosure of any such environmental proceedings is required. As of the date of this filing, we are not aware of any matters that are required to be disclosed pursuant to this standard. 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 — In June 2022, we and certain of our officers were named as defendants in a complaint alleging violation of the federal securities laws and seeking certification as a class action in the U.S. District Court for the Southern District of New York. A lead plaintiff has been appointed and an amended complaint was filed in January 2023. The amended complaint seeks damages on behalf of a putative class of persons who purchased our SMR Notes (as defined and discussed in Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations — Loss on Early Extinguishment of Debt, Net WMI’s charter and bylaws provide that WMI 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 WMI’s Board of Directors and each of WMI’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 — 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 —

Asset Impairments and Unusual I

Asset Impairments and Unusual Items	12 Months Ended
	Dec. 31, 2022
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 year ended December 31 (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 Gain from divestitures, net ​ $ (5) ​ $ (44) ​ $ (33) Asset impairments ​ 50 ​ 8 ​ 68 Other ​ 17 ​ 20 ​ — ​ ​ $ 62 ​ $ (16) ​ $ 35 ​ For the year ended December 31, 2022, we recognized $62 million of net charges consisting of (i) $50 million of asset impairment charges primarily related to management’s decision to close two landfills within our East Tier segment and (ii) a $17 million charge pertaining to reserves for loss contingencies in our Corporate and Other segment to adjust an indirect wholly-owned subsidiary’s estimated potential share of the liability for a proposed environmental remediation plan at a closed site, as discussed in Note 10. These losses were partially offset by a $5 million gain from the divestiture of a solid waste business in our West Tier segment. For the year ended December 31, 2021, we recognized net gains of $16 million primarily consisting of (i) a $35 million pre-tax gain from the recognition of cumulative translation adjustments on the divestiture of certain non-strategic Canadian operations in our East Tier segment and (ii) an $8 million gain from divestitures of certain ancillary operations in our Other segment. These gains were partially offset by (i) a $20 million charge pertaining to reserves for loss contingencies in our Corporate and Other segment and (ii) $8 million of asset impairment charges primarily related to our WM Renewable Energy business within our Other segment. For the year ended December 31, 2020, we recognized $35 million of net charges primarily related to (i) a $33 million net gain associated with net asset divestitures executed to address requirements of the U.S. Department of Justice in connection with our acquisition of Advanced Disposal, primarily within our West Tier segment; (ii) $41 million of non-cash impairment charges primarily related to two landfills and an oil field waste injection facility in our West Tier segment; (iii) a $20 million non-cash impairment charge in our East Tier segment due to management’s decision to close a landfill once its constructed airspace is filled and abandon any remaining permitted airspace and (iv) $7 million of net charges primarily related to non-cash impairments of certain assets within our WM Renewable Energy business in our Other segment. See Note 2 for additional information related to the accounting policy and analysis involved in identifying and calculating impairments. 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 For the year ended December 31, 2020, we recorded a non-cash impairment charge of $7 million related to an investment in a refined coal facility which is discussed further in Note 8. The fair value of our investment was not readily determinable; thus, we determined the fair value using management assumptions pertaining to investment value (Level 3 inputs). The remaining losses for the years ended December 31, 2022, 2021 and 2020 were primarily related to our noncontrolling interests in entities established to invest in and manage low-income housing properties. Refer to Notes 8 and 18 for additional information related to these investments.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	12 Months Ended
	Dec. 31, 2022
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 WMI 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(a) Obligations Total Balance, December 31, 2019 ​ $ (24) ​ $ 38 ​ $ (21) ​ $ (1) ​ $ (8) Other comprehensive income (loss) before reclassifications, net of tax expense (benefit) of $2, $4, $0 and $1, respectively ​ 7 ​ 12 ​ 20 ​ 2 ​ 41 Amounts reclassified from accumulated other comprehensive (income) loss, net of tax (expense) benefit of $2, $0, $0 and $(1), respectively ​ 8 ​ (1) ​ — ​ (1) ​ 6 Net current period other comprehensive income (loss) ​ 15 ​ 11 ​ 20 ​ 1 ​ 47 Balance, December 31, 2020 ​ $ (9) ​ $ 49 ​ $ (1) ​ $ — ​ $ 39 Other comprehensive income (loss) before reclassifications, net of tax expense (benefit) of $0, $(2), $0 and $2, respectively ​ — ​ (6) ​ 7 ​ 5 ​ 6 Amounts reclassified from accumulated other comprehensive (income) loss, net of tax (expense) benefit of $3, $0, $0 and $0, respectively ​ 9 ​ — ​ (35) ​ (2) ​ (28) Net current period other comprehensive income (loss) ​ 9 ​ (6) ​ (28) ​ 3 ​ (22) Balance, December 31, 2021 ​ $ — ​ $ 43 ​ $ (29) ​ $ 3 ​ $ 17 Other comprehensive income (loss) before reclassifications, net of tax expense (benefit) of $0, $(8), $0 and $0, respectively ​ — ​ (24) ​ (65) ​ 1 ​ (88) Amounts reclassified from accumulated other comprehensive (income) loss, net of tax (expense) benefit of $1, $0, $0 and $0, respectively ​ 3 ​ — ​ — ​ (1) ​ 2 Net current period other comprehensive income (loss) ​ 3 ​ (24) ​ (65) ​ — ​ (86) Balance, December 31, 2022 ​ $ 3 ​ $ 19 ​ $ (94) ​ $ 3 ​ $ (69) ​ (a) As a result of the divestiture of certain non-strategic Canadian operations in the third quarter of 2021, we reclassified $35 million of cumulative foreign currency translation adjustments from accumulated other comprehensive income to (gain) loss from divestitures, asset impairments and unusual items, net within our Consolidated Statement of Operations .

Capital Stock, Dividends and Co

Capital Stock, Dividends and Common Stock Repurchase Program	12 Months Ended
	Dec. 31, 2022
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, 2022, we had 407.9 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 $1,077 million in 2022, or $2.60 per common share, $970 million in 2021, or $2.30 per common share, and $927 million in 2020, or $2.18 per common share. In December 2022, we announced that our Board of Directors expects to increase the quarterly dividend from $0.65 to $0.70 per share for dividends declared in 2023. However, all future dividend declarations are at the discretion of our 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. In the table below, shares repurchased are measured and reported based on the period shares are delivered to us, which can differ from the period cash is delivered to a repurchase agent for the value of such shares. The following is a summary of our share repurchases under our common stock repurchase program for the year ended December 31: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022(a) 2021(b) 2020(c) Shares repurchased (in thousands) ​ 9,796 ​ 8,731 ​ 3,687 Weighted average price per share $ 160.26 ​ $ 146.61 ​ $ 108.92 Total repurchases (in millions) ​ $ 1,570 ​ $ 1,280 ​ $ 402 (a) We executed and completed four ASR agreements during 2022 to repurchase $1.417 billion of our common stock and received 8.8 million shares in connection with these ASR agreements. We also 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 Securities Exchange Act of 1934 (“Exchange Act”) for $83 million, inclusive of per-share commissions. Shares repurchased in 2022 include 0.4 million shares of our common stock for $70 million pursuant to our December 2021 ASR agreement that completed in January 2022. (b) We executed and completed three ASR agreements during 2021 to repurchase $1.0 billion of our common stock and received 7.0 million shares in connection with these ASR agreements. Additionally, in December 2021, we executed an ASR agreement to repurchase $350 million of our common stock. At the beginning of the repurchase period, we delivered $350 million in cash and received 1.7 million shares based on a stock price of $160.67 . The ASR agreement completed in January 2022, at which time we received 0.4 million additional shares based on a final weighted average price of $160.33 . (c) During 2020, we executed and completed an ASR agreement to repurchase $313 million of our common stock and received 2.8 million shares in connection with this ASR agreement. We also repurchased an additional 0.9 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 $89 million, inclusive of per-share commissions. We announced in December 2022 that the Board of Directors has authorized up to $1.5 billion in future share repurchases. This new authorization replaces our prior $1.5 billion authorization that was fully utilized in 2022. Any future share repurchases will be made at the discretion of management and will depend on factors similar to those considered by the Board of Directors in making dividend declarations, including our net earnings, financial condition and cash required for future business plans, growth and acquisitions.

Equity-Based Compensation

Equity-Based Compensation	12 Months Ended
	Dec. 31, 2022
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 2022, 2021 and 2020 was approximately 455,000, 513,000 and 570,000, respectively. After the January 2023 issuance of shares associated with the July to December 2022 offering period, 2.3 million shares remain available for issuance under the ESPP. As a result of our ESPP, annual compensation expense increased by $13 million, or $10 million net of tax expense, for 2022, $12 million, or $9 million net of tax expense, for 2021 and $13 million, or $10 million net of tax expense, for 2020. 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. In May 2020, the Company’s Board of Directors amended the 2014 Plan to provide that the number of future shares surrendered in payment of the exercise or purchase price of an award, and the number of future shares used to satisfy the withholding obligations, shall no longer be credited back to the total number of shares available for issuance under the 2014 Plan. As of December 31, 2022, approximately 16.1 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 2022 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. Additionally, several members of the Company’s senior leadership team received a grant of RSUs in 2022 in special recognition of leadership and contributions critical to the acquisition of Advanced Disposal and the subsequent integration and synergy generation. Awards granted to other eligible employees under the 2014 Plan included a combination of PSUs, RSUs and stock options in 2022. 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 — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ ​ ​ Per Share ​ Units Fair Value Unvested as of January 1, 2022 343 ​ $ 114.28 Granted 162 ​ $ 147.74 Vested (107) ​ $ 100.11 Forfeited (33) ​ $ 136.43 Unvested as of December 31, 2022 365 ​ $ 131.26 ​ The total fair market value of RSUs that vested during the years ended December 31, 2022, 2021 and 2020 was $15 million, $12 million and $14 million, respectively. During the year ended December 31, 2022, we issued approximately 77,000 shares of common stock for these vested RSUs, net of approximately 30,000 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 generally subject to pro-rata vesting upon an employee’s 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. Beginning in 2021, the terms of the award agreements for new grants of RSUs were updated to provide for accelerated vesting following retirement as if the employee had remained employed until the end of the vesting period. Accordingly, compensation expense for RSUs granted to retirement eligible employees is recognized over the longer of (i) the period between grant date and the date that the recipient becomes retirement-eligible or (ii) the defined service requirement of the award. 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 — 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, 2022 968 ​ $ 129.60 Granted 290 ​ $ 168.49 Vested (346) ​ $ 116.26 Forfeited (48) ​ $ 147.79 Unvested as of December 31, 2022 864 ​ $ 147.00 ​ The determination of achievement of performance results and corresponding vesting of PSUs for the three-year performance period ended December 31, 2022 was performed by the Management Development and Compensation Committee of our Board of Directors in January 2023. Accordingly, vesting information for such awards is not included in the table above as of December 31, 2022. The “vested” PSUs are for the three-year performance period ended December 31, 2021, as achievement of performance results and corresponding vesting was determined in February 2022. The performance of the Company’s common stock for purposes of the TSR PSUs exceeded target performance criteria, and the Company’s financial results, as measured for purposes of the Cash Flow PSUs, exceeded the maximum performance criteria. Accordingly, recipients of the PSU awards received a payout of 167.78% of the vested TSR PSUs and 200% of the vested Cash Flow PSUs. In February 2022, approximately 637,000 PSUs vested and we issued approximately 420,000 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, 2022, 2021 and 2020 for prior PSU award grants had a fair market value of $91 million, $74 million and $89 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. The terms of the award agreements for outstanding PSUs provide for continued vesting following retirement as if the employee had remained employed until the end of the performance period, and 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. 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 — Stock Options — two ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ ​ ​ Per Share ​ Options Exercise Price Outstanding as of January 1, 2022 3,206 ​ $ 92.53 Granted 477 ​ $ 145.67 Exercised (a) (675) ​ $ 88.54 Forfeited or expired (85) ​ $ 124.31 Outstanding as of December 31, 2022 (b) 2,923 ​ $ 101.22 Exercisable as of December 31, 2022 (c) 1,762 ​ $ 83.34 (a) Includes approximately 141,000 stock options exercised pursuant to Rule 10b5-1 trading plans that provided for net share settlement, resulting in the Company withholding approximately 112,000 shares of our common stock to cover the associated stock option exercise price and taxes. (b) Stock options outstanding as of December 31, 2022 have a weighted average remaining contractual term of 6.2 years and an aggregate intrinsic value of $163 million based on the market value of our common stock on December 31, 2022. (c) Stock options exercisable as of December 31, 2022 have an aggregate intrinsic value of $130 million based on the market value of our common stock on December 31, 2022. During 2022, 2021 and 2020, we received cash proceeds of $44 million, $66 million and $63 million, respectively, from the exercise of 675,000, 962,000 and 1,039,000 of employee stock options. The aggregate intrinsic value of stock options exercised during 2022, 2021 and 2020 was $51 million, $66 million and $58 million, respectively. Stock options exercisable as of December 31, 2022 were as follows (options in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ ​ ​ ​ Per Share ​ Weighted Average Range of Exercise Prices Options Exercise Price Remaining Years $36.88-$50.00 166 ​ $ 40.31 1.0 $50.01-$70.00 355 ​ $ 55.53 2.7 $70.01-$100.00 888 ​ $ 87.95 5.3 $100.01-$145.67 353 ​ $ 119.87 7.6 $36.88-$145.67 1,762 ​ $ 83.34 5.0 ​ 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, 2022, 2021 and 2020 was $26.44, $17.25 and $15.82, 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 year ended December 31 under the Black-Scholes valuation model: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 Expected option life 4.7 years 4.7 years 4.6 years Expected volatility 23.4 % 23.2 % 16.6 % Expected dividend yield 1.8 % 2.1 % 1.7 % Risk-free interest rate 1.6 % 0.6 % 1.4 % ​ 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 expected 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, 2022, 2021 and 2020, we recognized $71 million, $94 million and $79 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, 2022, 2021 and 2020 includes related income tax benefits of $14 million, $18 million and $15 million, respectively. We have not capitalized any equity-based compensation costs during the reported periods. As of December 31, 2022, we estimate that $45 million of currently unrecognized compensation expense will be recognized over a weighted average period of 1.5 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, 2022
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 year ended December 31 (shares in millions): ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 Number of common shares outstanding at end of period 407.9 ​ 416.1 422.8 Effect of using weighted average common shares outstanding 4.9 ​ 4.3 0.2 Weighted average basic common shares outstanding 412.8 ​ 420.4 423.0 Dilutive effect of equity-based compensation awards and other contingently issuable shares 2.2 ​ 2.5 2.1 Weighted average diluted common shares outstanding 415.0 ​ 422.9 425.1 Potentially issuable shares 5.2 ​ 5.7 6.1 Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding 1.1 ​ 0.6 1.6 ​ Refer to the Consolidated Statements of Operations for net income attributable to Waste Management, Inc.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2022
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 — Level 2 — Level 3 — 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): ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Quoted prices in active markets (Level 1): ​ ​ ​ ​ ​ ​ Cash equivalents and money market funds $ 240 $ 38 Equity securities ​ ​ 37 ​ ​ 25 Significant other observable inputs (Level 2): ​ ​ ​ ​ ​ ​ Available-for-sale securities ​ 360 ​ ​ 395 Significant unobservable inputs (Level 3): ​ ​ ​ ​ ​ ​ Redeemable preferred stock ​ 56 ​ 49 Total Assets $ 693 ​ $ 507 ​ See Note 11 for information related to our nonrecurring fair value measurements and the impact of impairments. See Note 17 for information related to the nonrecurring fair value measurement of assets and liabilities acquired in connection with our acquisitions. Cash Equivalents and Money Market Funds Cash equivalents primarily include short-term interest-bearing instruments with maturities of three months or less. We invest portions of our restricted trust funds in money market funds and we measure the fair value of these investments using quoted prices in active markets for identical assets. The fair value of our cash equivalents and money market funds approximates our cost basis in these instruments. Equity Securities We invest portions of our restricted trust funds in equity securities and we measure the fair value of these securities using quoted prices in active markets for identical assets. Any changes in fair value of these securities related to unrealized gains and losses have been appropriately reflected as a component of other income (expense). Available-for-Sale Securities Our available-for-sale securities include restricted trust funds 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, which generally mature over the next nine years. 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). Redeemable Preferred Stock Redeemable preferred stock is related to a noncontrolling investment in an unconsolidated entity and is included in investments in unconsolidated entities in our Consolidated Balance Sheets. The fair value of our investment has 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. Fair Value of Debt As of December 31, 2022 and 2021, the carrying value of our debt was $15.0 billion and $13.4 billion, respectively. The estimated fair value of our debt was approximately $13.8 billion and $14.1 billion as of December 31, 2022 and 2021, respectively. The decrease in the fair value of debt is primarily related to increases in current market rates of our senior notes, the impacts of which were substantially offset by net borrowings of $1.4 billion during 2022. 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, 2022 and 2021. 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, 2022
Acquisitions and Divestitures
Acquisitions and Divestitures	17. Acquisitions and Divestitures Acquisitions 2022 Acquisitions During the year ended December 31, 2022, we acquired 13 businesses, including the acquisition of a controlling interest in a business intended to allow us to deliver new recycling capabilities for our customers and provide circular solutions for film and clear plastic wrap used commercially, such as plastic stretch wrap for pallets, furniture film, grocery bags and potentially shrink wrap around food and beverage containers. Our other acquisitions in 2022 primarily related to our Solid Waste business. Total consideration, net of cash acquired, for all acquisitions was $507 million, which included $372 million in net cash paid and $135 million in non-cash consideration, primarily related to purchase price holdbacks and the conversion of $67 million in secured convertible promissory notes receivable into equity of the acquired business. In addition, we paid $5 million of holdbacks related to prior year acquisitions. Total consideration for our 2022 acquisitions was primarily allocated to $138 million of property and equipment, $64 million of other intangible assets, $325 million of goodwill and $14 million of noncontrolling interests. Other intangible assets included $45 million of customer relationships and $19 million of covenants not-to-compete. We remain in the measurement period for most of our 2022 acquisitions, and further adjustments to our preliminary purchase price allocations may occur, specifically for the valuation of certain acquired intangibles. The goodwill related to our 2022 acquisitions was primarily a result of expected synergies from combining the acquired businesses with our existing operations, of which less than half was tax deductible. 2021 Acquisitions During the year ended December 31, 2021, we acquired 11 businesses primarily related to our Solid Waste business. Total consideration, net of cash acquired, for all acquisitions was $94 million, which included $73 million in net cash paid and $21 million of other consideration, primarily purchase price holdbacks and the settlement of a preexisting promissory note with one of the acquired businesses. In addition, we paid $3 million of holdbacks, primarily related to current year acquisitions. Our 2021 acquisitions discussed above include our acquisition of the remaining ownership interest in a waste diversion technology company. Concurrent with our acquisition, the acquired entity issued shares to an unrelated third-party, diluting our ownership interest. We determined the entity constituted a variable interest entity and concluded that we did not have the power to direct its significant activities. As a result, we subsequently deconsolidated the entity and account for our remaining ownership interest as an equity method investment. 2020 Acquisitions During the year ended December 31, 2020, we acquired four businesses related to our Solid Waste business, including the acquisition of Advanced Disposal discussed further below. Total consideration, net of cash acquired of $36 million, for all acquisitions was $4.1 billion, none of which related to other consideration such as purchase price holdbacks. In 2020, we paid $3 million of holdbacks, all of which related to prior year acquisitions. Contingent consideration obligations are primarily based on achievement by the acquired businesses of certain negotiated goals, which generally include targeted financial metrics. Advanced Disposal For the year ended December 31, 2022 and 2021, we incurred integration related costs of $10 million and $51 million, respectively, and for the year ended December 31, 2020, we incurred acquisition and integration related costs of $156 million, which were primarily classified as “Selling, general and administrative expenses.” The post-closing operating results of Advanced Disposal have been included in our consolidated financial statements, within our existing reportable segments. Post-closing through December 31, 2020, Advanced Disposal recognized $205 million, $142 million and $60 million of revenue, operating expenses and selling, general and administrative expenses, respectively, which are included in our Consolidated Statement of Operations. Our consolidated financial statements have not been retroactively restated to include Advanced Disposal’s historical financial position or results of operations. The acquisition was accounted for as a business combination. In accordance with the purchase method of accounting, the purchase price paid has been allocated to the assets and liabilities acquired based upon their estimated fair values as of the acquisition date, with the excess of the purchase price over the net assets acquired recorded as goodwill. The Company valued the customer relationship asset using an income approach; specifically, the multi-period excess earnings method. The significant assumptions used to value customer relationships included, among others, attrition rates, revenue growth rate, and discount rate. The Company valued the landfill assets using an income approach; specifically, the multi-period excess earnings method. The significant assumptions used to value landfill assets included, among others, the forecasted revenue and revenue growth (including forecasted waste volumes and rate per ton), discount rate, and forecasted capital expenditures. The allocation of the purchase price was finalized in October 2021. Goodwill of $2.5 billion was calculated as the excess of the consideration paid over the net assets recognized and represents the future economic benefits expected to arise from other assets acquired that could not be individually identified and separately recognized. Goodwill has been assigned to our reporting units that have integrated these operations as they are benefitting from the synergies of the combination. Goodwill related to this acquisition is not deductible for income tax purposes. The following table shows the purchase price allocation as of the date acquired, and adjustments to October 30, 2021 (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October 30, 2020 ​ ​ Adjustments ​ ​ October 30, 2021 Accounts and other receivables ​ $ 159 ​ $ 1 ​ $ 160 Parts and supplies 8 (1) ​ 7 Other current assets ​ ​ 17 ​ ​ (1) ​ ​ 16 Assets held for sale (a) ​ ​ 1,022 ​ ​ — ​ ​ 1,022 Property and equipment ​ ​ 1,278 ​ ​ (12) ​ ​ 1,266 Goodwill ​ ​ 2,470 ​ ​ 26 ​ ​ 2,496 Other intangible assets ​ ​ 604 ​ ​ (3) ​ ​ 601 Investments in unconsolidated entities ​ ​ 9 ​ ​ — ​ ​ 9 Other assets ​ ​ 27 ​ ​ (2) ​ ​ 25 Accounts payable ​ ​ (107) ​ ​ 1 ​ ​ (106) Accrued liabilities ​ ​ (155) ​ ​ (3) ​ ​ (158) Deferred revenues ​ ​ (19) ​ ​ — ​ ​ (19) Current portion of long-term debt ​ ​ (12) ​ ​ — ​ ​ (12) Liabilities held for sale (a) ​ ​ (234) ​ ​ — ​ ​ (234) Long-term debt, less current portion (b) ​ ​ (441) ​ ​ — ​ ​ (441) Landfill and environmental remediation liabilities ​ ​ (242) ​ ​ (13) ​ ​ (255) Deferred income taxes ​ ​ (223) ​ ​ 9 ​ ​ (214) Other liabilities ​ ​ (79) ​ ​ (2) ​ ​ (81) Total purchase price ​ $ 4,082 ​ $ — ​ $ 4,082 (a) In connection with our acquisition of Advanced Disposal, we and Advanced Disposal entered into an agreement that provided for GFL Environmental to acquire a combination of assets from us and Advanced Disposal to address divestitures required by the U.S. Department of Justice. Upon acquisition these assets met the criteria for reporting discontinued operations and were classified as held for sale and included within the “Assets held for sale” and “Liabilities held for sale” line items in the above final allocation of purchase price. Immediately following the acquisition, the divestiture transactions were consummated and the Company subsequently received cash proceeds from the sale of $856 million. ​ (b) At the time of acquisition, Advanced Disposal had outstanding $425 million of 5.625% senior notes due November 2024, the fair value of which was $438 million. In November 2020, we redeemed the notes pursuant to an optional redemption feature. ​ The final allocation of $601 million for other intangibles includes $572 million for customer relationships with an amortization period of 15 years and $29 million of other intangibles with a weighted average amortization period of seven years. The unaudited pro forma financial information in the table below summarizes the combined results of operations for the Company and Advanced Disposal as though the companies had been combined as of January 1, 2020. Examples of adjustments made to arrive at the pro forma amounts include, but are not limited to, the following: • • • • • The following unaudited pro forma financial information is for informational purposes only and is not necessarily indicative of the results of operations that would have been achieved as if the acquisition had taken place as of January 1, 2020 for the year ended December 31 (in millions, except per share amounts): ​ ​ ​ ​ ​ ​ 2020 Operating revenues ​ $ 16,192 Net income attributable to Waste Management, Inc. ​ 1,685 Basic earnings per common share ​ ​ 3.99 Diluted earnings per common share ​ ​ 3.96 ​ ​ ​ ​ Weighted average common shares outstanding: ​ ​ ​ Basic ​ 423 Diluted ​ 425 ​ Divestitures In 2022, 2021 and 2020, the aggregate sales price for divestitures of certain landfill assets, as well as collection, hauling, disposal and ancillary operations, was $6 million, $48 million and $856 million, and we recognized net gains of $5 million, $44 million and $33 million, respectively. In 2021, divestitures primarily related to the sale of certain non-strategic Canadian operations, as discussed in Note 11. In 2020, divestitures primarily consisted of assets required to be sold by the U.S. Department of Justice in connection with our acquisition of Advanced Disposal, as discussed above. 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, 2022
Variable Interest Entities
Variable Interest Entities	18. Variable Interest Entities The following is a description of our financial interests in unconsolidated and consolidated variable interest entities that we consider significant: Low-Income Housing Properties We do not consolidate our investments in entities established to manage low-income housing properties 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 $321 million and $178 million as of December 31, 2022 and 2021, respectively. The debt balance related to our investments in low-income housing properties was $295 million and $156 million as of December 31, 2022 and 2021, 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 — Consolidated Variable Interest Entities —

Segment and Related Information

Segment and Related Information	12 Months Ended
	Dec. 31, 2022
Segment and Related Information
Segment and Related Information	19. Segment and Related Information Our senior management evaluates, oversees and manages the financial performance of our Solid Waste operations through two operating segments. Our East Tier primarily consists of geographic areas located in the Eastern U.S., the Great Lakes region and substantially all of Canada. Our West Tier primarily includes geographic areas located in the Western U.S., including the upper Midwest region, and British Columbia, Canada. Each of our Solid Waste operating segments provides integrated environmental services, including collection, transfer, recycling, and disposal. The East and West Tiers are presented in this report and constitute our existing Solid Waste business. The operating segments not evaluated and overseen through our East and West Tiers 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 year then ended is shown in the following table (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Intercompany ​ Net ​ Income Depreciation, ​ Capital ​ Total ​ ​ Operating ​ Operating ​ Operating ​ from Depletion and ​ Expenditures ​ Assets ​ Revenues Revenues(d) Revenues Operations(e) Amortization (f) (g)(h) Years Ended December 31: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ ​ ​ ​ ​ ​ ​ ​ Solid Waste: ​ ​ ​ ​ ​ ​ ​ ​ East Tier ​ $ 10,283 ​ $ (1,977) ​ $ 8,306 ​ $ 2,249 ​ $ 998 ​ $ 1,129 ​ $ 14,741 West Tier ​ 10,190 ​ (2,123) ​ 8,067 ​ 2,346 ​ 878 ​ 1,047 ​ 11,916 Solid Waste (a) ​ 20,473 ​ (4,100) ​ 16,373 ​ 4,595 ​ 1,876 ​ 2,176 ​ 26,657 Other (b) ​ 3,545 ​ (220) ​ 3,325 ​ 26 ​ 66 ​ 328 ​ 1,972 ​ ​ ​ 24,018 ​ ​ (4,320) ​ ​ 19,698 ​ ​ 4,621 ​ ​ 1,942 ​ ​ 2,504 ​ ​ 28,629 Corporate and Other (c) ​ — ​ — ​ — ​ (1,256) ​ 96 ​ 305 ​ 3,048 Total ​ $ 24,018 ​ $ (4,320) ​ $ 19,698 ​ $ 3,365 ​ $ 2,038 ​ $ 2,809 ​ $ 31,677 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ ​ ​ ​ ​ ​ ​ Solid Waste: ​ ​ ​ ​ ​ ​ ​ East Tier ​ $ 9,278 ​ $ (1,738) ​ $ 7,540 ​ $ 2,037 ​ $ 970 ​ $ 708 ​ $ 14,269 West Tier ​ 9,369 ​ (1,908) ​ 7,461 ​ 2,103 ​ 883 ​ 579 ​ 11,476 Solid Waste (a) ​ 18,647 ​ (3,646) ​ 15,001 ​ 4,140 ​ 1,853 ​ 1,287 ​ 25,745 Other (b) ​ 3,046 ​ (116) ​ 2,930 ​ 34 ​ 70 ​ 181 ​ 1,275 ​ ​ ​ 21,693 ​ ​ (3,762) ​ ​ 17,931 ​ ​ 4,174 ​ ​ 1,923 ​ ​ 1,468 ​ ​ 27,020 Corporate and Other (c) ​ — ​ — ​ — ​ (1,209) ​ 76 ​ 571 ​ 2,372 Total ​ $ 21,693 ​ $ (3,762) ​ $ 17,931 ​ $ 2,965 ​ $ 1,999 ​ $ 2,039 ​ $ 29,392 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 ​ ​ ​ ​ ​ ​ ​ Solid Waste: ​ ​ ​ ​ ​ ​ ​ East Tier ​ $ 7,873 ​ $ (1,503) ​ $ 6,370 ​ $ 1,672 ​ $ 801 ​ $ 537 ​ $ 14,274 West Tier ​ 8,241 ​ (1,657) ​ 6,584 ​ 1,800 ​ 738 ​ 465 ​ 11,501 Solid Waste (a) ​ 16,114 ​ (3,160) ​ 12,954 ​ 3,472 ​ 1,539 ​ 1,002 ​ 25,775 Other (b) ​ 2,364 ​ (100) ​ 2,264 ​ (42) ​ 87 ​ 75 ​ 2,064 ​ ​ ​ 18,478 ​ ​ (3,260) ​ ​ 15,218 ​ ​ 3,430 ​ ​ 1,626 ​ ​ 1,077 ​ ​ 27,839 Corporate and Other (c) ​ — ​ — ​ — ​ (996) ​ 45 ​ 508 ​ 1,810 Total ​ $ 18,478 ​ $ (3,260) ​ $ 15,218 ​ $ 2,434 ​ $ 1,671 ​ $ 1,585 ​ $ 29,649 (a) 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. Income from operations in our Solid Waste business increased in 2022, as compared with 2021, primarily due to revenue growth in our collection and disposal businesses driven by both yield and volume. This increase was partially offset by (i) inflationary cost pressures; (ii) labor cost increases from frontline employee wage adjustments; (iii) divestitures, asset impairments and unusual items, discussed in Note 11 above, that impacted our East Tier results and (iv) reduced profitability in our recycling business from the decline in recycling commodity prices and lower volumes. Income from operations in our Solid Waste business increased in 2021, as compared with 2020, primarily due to (i) revenue growth in our collection and disposal businesses driven by both yield and volume, as well as the acquisition of Advanced Disposal; (ii) improved profitability in our recycling business from higher market prices for recycling commodities and improved costs at facilities where we have made investments in enhanced technology and equipment and (iii) changes from divestitures, asset impairments and unusual items, discussed in Note 11, that impacted both Tiers’ results. These increases were partially offset by (i) labor cost pressure from frontline employee wage adjustments, increased turnover driving up training costs and higher overtime due to driver shortages and volume growth; (ii) increased landfill depletion from higher volumes and revisions in landfill estimates, including the anticipated timing of capping, closure and post-closure activities at certain landfills and adjustments in 2020 to the inflation rate used to estimate capping, closure, and post-closure asset retirement obligations that benefitted costs in 2020 and (iii) inflationary cost pressures. During 2021, the positive earnings contributions from Advanced Disposal were offset by elevated depreciation, depletion and amortization of acquired assets. (b) “Other” includes (i) elements of our Strategic Business Solutions (“WMSBS”) business that are not included in the operations of our reportable segments; (ii) elements of our sustainability business that includes landfill gas-to-energy operations managed by our WM Renewable Energy business, our SES business and recycling brokerage services and not included in the operations of our reportable segments; (iii) certain other expanded service offerings and solutions and (iv) the results of non-operating entities that provide financial assurance and self-insurance support for our Solid Waste business, net of intercompany activity. The decrease in income from operations in 2022, as compared with 2021, was due to the recognition of acquisition and integration-related costs, as well as, a prior year gain from divestitures of certain ancillary operations in our Other segment, discussed in Note 11, partially offset by improved profitability in our SES and WMSBS businesses. The increase in income from operations for 2021, as compared to 2020, was primarily driven by increased market values for renewable energy credits generated by our WM Renewable Energy business. (c) “Corporate and other” 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, digital, 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. These costs increased in 2022, as compared with 2021, primarily due to strategic investments in our digital platform and sustainability initiatives, partially offset by lower acquisition and integration related costs. These costs increased in 2021, as compared with 2020, due to (i) higher incentive compensation costs; (ii) increased labor, support and integration costs following our acquisition of Advanced Disposal; (iii) strategic investments in our digital platform; (iv) increased health and welfare costs attributable to medical care activity generally returning to pre-pandemic levels from the lower levels experienced during 2020 and (v) charges pertaining to reserves for certain loss contingencies during 2021. These increases were partially offset by lower consulting, advisory and legal fees following the completion of our acquisition of Advanced Disposal in the fourth quarter of 2020 and changes in the measurement of our environmental remediation obligations and recovery assets in both 2020 and 2021. (d) 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. (e) 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 2. (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, include timing differences for amounts 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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 Total assets, as reported above ​ $ 31,677 ​ $ 29,392 ​ $ 29,649 Elimination of intercompany investments and advances ​ (310) ​ (295) ​ (304) Total assets, per Consolidated Balance Sheet ​ $ 31,367 ​ $ 29,097 ​ $ 29,345 ​ (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 Tiers 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 ​ ​ ​ ​ ​ ​ ​ East Tier West Tier Other Total Balance, December 31, 2020 ​ $ 5,101 ​ $ 3,823 ​ $ 70 ​ $ 8,994 Acquired goodwill (a) ​ 27 ​ 15 ​ 34 ​ 76 Divested goodwill ​ (11) ​ (7) ​ (29) ​ (47) Foreign currency translation and other ​ 3 ​ 2 ​ — ​ 5 Balance, December 31, 2021 ​ $ 5,120 ​ $ 3,833 ​ $ 75 ​ $ 9,028 Acquired goodwill ​ 92 ​ 24 ​ 209 ​ 325 Divested goodwill ​ — ​ — ​ — ​ — Foreign currency translation and other ​ (30) ​ — ​ — ​ (30) Balance, December 31, 2022 ​ $ 5,182 ​ $ 3,857 ​ $ 284 ​ $ 9,323 (a) Includes $26 million of post-closing acquisition adjustments related to our acquisition of Advanced Disposal. ​ The mix of operating revenues from our major lines of business for the year ended December 31 are as follows (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 Commercial ​ ​ $ 5,450 ​ $ 4,760 ​ $ 4,102 Industrial ​ ​ 3,681 ​ 3,210 ​ 2,770 Residential ​ ​ 3,339 ​ 3,172 ​ 2,716 Other collection ​ ​ 699 ​ 533 ​ 465 Total collection ​ ​ 13,169 ​ 11,675 ​ 10,053 Landfill ​ ​ 4,600 ​ 4,153 ​ 3,667 Transfer ​ ​ 2,143 ​ 2,072 ​ 1,855 Recycling ​ ​ 1,701 ​ 1,681 ​ 1,127 Other (a) ​ ​ 2,405 ​ 2,112 ​ 1,776 Intercompany (b) ​ ​ (4,320) ​ (3,762) ​ (3,260) Total ​ ​ $ 19,698 ​ $ 17,931 ​ $ 15,218 (a) The “Other” line of business includes (i) certain services provided by our WMSBS business; (ii) certain services within our sustainability business including our landfill gas-to-energy operations managed by our WM Renewable Energy business and (iii) certain other expanded service offerings and solutions and reflects the results of non-operating entities that provide financial assurance and self-insurance support for our Solid Waste business, net of intercompany activity. Revenue attributable to collection, landfill, transfer and recycling services provided by our “Other” businesses has been reflected as a component of the relevant line of business for purposes of presentation in this table. (b) Intercompany revenues between lines of business are eliminated in the Consolidated Financial Statements included within this report. Fluctuations in our operating results may be caused by many factors, including period-to-period changes in the relative contribution of revenue by each line of business, changes in commodity prices and general economic conditions. Our revenues and income from operations typically reflect seasonal patterns. Our operating revenues tend to be somewhat higher in summer months, primarily due to the higher 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. Our 2020 Service or operational disruptions caused by severe storms, extended periods of inclement weather or climate events can significantly affect the operating results of the geographic areas affected. Extreme weather events may also lead to supply chain disruption and delayed project development, or disruption of our customers’ businesses, reducing the amount of waste generated by their operations. On the other hand, certain destructive weather and climate conditions, such as wildfires in the Western U.S. and hurricanes that most often impact our operations in the Southern and Eastern U.S. during the second half of the year, can increase our revenues in the geographic areas affected as a result of the waste volumes generated by these events. While weather-related and other event-driven special projects can boost revenues through additional work for a limited time, due to significant start-up costs and other factors, such revenue can generate earnings at comparatively lower margins. Net operating revenues relating to operations in the U.S. and Canada for the year ended December 31 are as follows (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 U.S. ​ $ 18,860 ​ $ 17,136 ​ $ 14,505 Canada ​ 838 ​ 795 ​ 713 Total ​ $ 19,698 ​ $ 17,931 ​ $ 15,218 ​ Property and equipment, net of accumulated depreciation and depletion, relating to operations in the U.S. and Canada for the year ended December 31 are as follows (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 U.S. ​ $ 14,725 ​ $ 13,428 ​ $ 13,168 Canada ​ 994 ​ 991 ​ 980 Total ​ $ 15,719 ​ $ 14,419 ​ $ 14,148 ​

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2022
Summary of Significant Accounting Policies
Basis of Presentation	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., together with its consolidated subsidiaries and consolidated variable interest entities. When we use the term “WMI,” we are referring only to Waste Management, Inc., the parent holding company. We are North America’s leading provider of comprehensive environmental solutions, providing services throughout the United States (“U.S.”) and Canada. 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 provide collection, transfer, disposal, and recycling and resource recovery services. Through our subsidiaries, including our Waste Management Renewable Energy (“WM Renewable Energy”) business, we are also a leading developer, operator and owner of landfill gas-to-energy facilities in the U.S and Canada that produce renewable electricity and renewable natural gas, which is a significant source of fuel for our natural gas fleet. Our senior management evaluates, oversees and manages the financial performance of our Solid Waste operations through two operating segments. Our East Tier primarily consists of geographic areas located in the Eastern U.S., the Great Lakes region and substantially all of Canada. Our West Tier primarily includes geographic areas located in the Western U.S., including the upper Midwest region, and British Columbia, Canada. Each of our Solid Waste operating segments provides integrated environmental services, including collection, transfer, recycling, and disposal. The East and West Tiers are presented in this report and constitute our existing Solid Waste business. On October 30, 2020, we acquired Advanced Disposal Services, Inc. (“Advanced Disposal”), the operations of which are presented in this report within our existing Solid Waste tiers. 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 acquisition of Advanced Disposal and segments is included in Notes 17 and 19, respectively.
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 WMI, 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, intangible asset impairments and the fair value of assets and liabilities acquired in business combinations. 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 restricted funds, 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, 2022 and 2021, 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 as well as expected 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. 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. The following table reflects the activity in our allowance for doubtful accounts of trade receivables for the year ended December 31 (in millions): ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Balance as of January 1 ​ $ 25 ​ $ 33 Additions charged to expense ​ 55 ​ 35 Accounts written-off, net of recoveries ​ (49) ​ (36) Acquisitions, divestitures and other, net ​ (5) ​ (7) Balance as of December 31 ​ $ 26 ​ $ 25 ​ To determine the allowance for doubtful accounts for trade receivables, we rely upon, among other factors, historical loss trends, the age of outstanding receivables, and existing as well as expected economic conditions. We determined that all of our trade receivables share similar risk characteristics. We monitor our credit exposure on an ongoing basis and assess whether assets in the pool continue to display similar risk characteristics. Based on aging analysis as of both December 31, 2022 and 2021, approximately 90% of our trade receivables were outstanding less than 60 days. To determine the allowance for doubtful accounts for other receivables, as well as loans and other instruments, we rely primarily on credit ratings and associated default rates based on the maturity of the instrument. Other receivables, as of December 31, 2022 and 2021, include receivables related to income tax payments in excess of our current income tax obligations of $150 million and $166 million, respectively. Other receivables as of December 31, 2022 and 2021 also include a receivable of $19 million and $14 million, respectively, related to alternative fuel tax credits. Based on an aging analysis as of December 31, 2022 and 2021, approximately 55% and 60%, respectively, of our other receivables were due within 12 months or less.
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 — Final Capping, Closure and Post-Closure Costs — ● Final Capping — Generally 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 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 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. As of December 31, 2022, 2021 and 2020, we inflated these costs in current dollars to the expected time of payment using an inflation rate of 2.50%, 2.25% and 2.25%, respectively. 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, 2022 was approximately 4.8%. We record the estimated fair value of final capping, closure and post-closure liabilities for our landfills based on the airspace 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. Sustained 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 permitted and expansion airspace (as defined below) of the related discrete final capping event or the remaining permitted and expansion airspace of the landfill, as appropriate. Any changes related to the capitalized and future cost of the landfill assets are then recognized in accordance with our landfill depletion policy (previously landfill amortization policy), which would generally result in depletion expense being recognized prospectively over the remaining permitted and expansion airspace of the final capping event or the remaining permitted and expansion airspace of the landfill, as appropriate. Changes in such estimates associated with a fully consumed landfill result in an adjustment to the recorded liability and landfill assets with an immediate corresponding adjustment to landfill airspace depletion expense. Interest accretion on final capping, closure and post-closure liabilities is recorded using the effective interest method and is recorded as landfill operating costs, which is included in operating expenses within our Consolidated Statements of Operations. Depletion of Landfill Assets — Depletion 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 depletable 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 airspace 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, for unpermitted airspace to be initially included in our estimate of remaining permitted and expansion airspace, we must believe that obtaining the expansion permit is likely. Second, 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, in addition to meeting 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. 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 on a quarterly basis. Of the 16 landfill sites with expansions included as of December 31, 2022, 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 five-year 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 depletable 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 consider 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 depletion 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 earnings may be experienced due to higher depletion rates or higher expenses; or higher earnings 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 depletion 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 and determine our estimated cost for the likely remedy based on a number of estimates and assumptions. 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 $135 million higher than the $204 million recorded in the Consolidated Balance Sheet as of December 31, 2022. 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 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. As of December 31, 2022, 2021 and 2020, we inflated the costs by 2.50%, 2.25% and 2.25%, respectively, and discounted the costs by 3.75%, 1.50% and 1.00%, respectively. Our discount rate has increased since 2020 as a result of the overall increase in the 10-year Treasury rates. 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 year ended December 31 (in millions) and the risk-free discount rate applied as of December 31: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 ​ Increase (decrease) in operating expenses ​ $ (14) ​ $ (4) ​ $ 8 ​ Risk-free discount rate applied to environmental remediation liabilities and recovery assets ​ 3.75 % 1.50 % 1.00 % ​ 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 $31 million as of December 31, 2022 and 2021. Had we not inflated and discounted any portion of our environmental remediation liability, the amount recorded would have increased by $10 million and decreased by $6 million as of December 31, 2022 and 2021, respectively.
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 generally 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 10 Vehicles — rail haul cars 10 30 Machinery and equipment — including containers 3 30 Buildings and improvements 5 40 Furniture, fixtures and office equipment 3 10 ​
Leases	Leases We lease property and equipment in the ordinary course of our business. Our operating lease activities primarily consist of leases for real estate, landfills and operating equipment. Our financing lease activities primarily consist of leases for operating equipment, railcars and landfill assets. 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 financing leases, as appropriate. Operating Leases (excluding landfill leases discussed below) — Financing Leases (excluding landfill leases discussed below) — Landfill Leases — For operating and financing leases, including landfill leases, our rent expense for each of the last three years and future minimum lease payments are disclosed in Note 7.
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 — Acquired Assets and Assumed Liabilities — 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. See Note 17 for additional information related to our acquisitions, including our 2020 acquisition of Advanced Disposal.
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 Other intangible assets consist primarily of customer and supplier relationships, covenants not-to-compete, licenses, permits (other than landfill permits, which are combined with landfill tangible assets and depleted per our landfill depletion 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 terms of 10
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 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 — We first perform a qualitative assessment to determine if it is more likely than not that the fair value of a reporting unit is less than its carrying value. If the assessment indicates a possible impairment, we complete a quantitative review, comparing the estimated fair value of a reporting unit to its carrying amount, including goodwill. An impairment charge is recognized if the asset’s estimated fair value is less than its carrying amount. Fair value is typically estimated using an income approach using Level 3 inputs. 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. 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 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. We 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. WMI pays an annual premium to the insurance captive on behalf of WMI and its insured subsidiaries, typically in the first quarter of the year, for estimated losses based on an external actuarial analysis. These premiums are held in a restricted funds account to be used solely for paying insurance claims, resulting in a transfer of risk from our Company to the insurance captive, and are allocated between current and long-term assets depending on estimated timing of the use of funds.
Restricted Funds	Restricted Funds Our restricted funds accounts primarily consist of funds deposited for purposes of funding insurance claims and settling landfill final capping, closure, post-closure and environmental remediation obligations. These funds are generally allocated between cash, money market funds, equity securities and available-for-sale debt securities depending on the estimated timing and purpose of the use of funds. We use a wholly-owned insurance captive to insure the deductibles for certain claims programs See Notes 16 and 18 for additional discussion related to restricted funds 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. Equity investments in which the Company does not have the ability to exert significant influence over the investees’ operating and financing activities are measured using a quantitative approach as these investments do 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. 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): ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Equity method investments ​ $ 460 ​ $ 335 Investments without readily determinable fair values ​ 62 ​ ​ 48 Redeemable preferred stock ​ 56 ​ ​ 49 Investments in unconsolidated entities ​ $ 578 ​ $ 432 ​ 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 or pending 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 our Consolidated Statements of Operations in accordance with appropriate accounting guidance. Refer to Note 11 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). Foreign currency translation adjustments have been impacted by decreases in the U.S. dollar/Canadian dollar exchange rate from 1.2734 at December 31, 2020, to 1.2639 at December 31, 2021 and to 1.3554 at December 31, 2022. Refer to Note 12 for information regarding the impacts of foreign currency on our comprehensive income and results of operations.
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, fuel surcharge and regulatory recovery fees, 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 our Strategic Business Solutions (“WMSBS”) and sustainability businesses, which include landfill gas-to-energy services, Sustainability and Environmental Solutions (“SES”) business and recycling brokerage services. We also offer certain other expanded service offerings and solutions. 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 advanced 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 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 five the timing of when we expect to recognize amortization and are included in other assets in our Consolidated Balance Sheets. As of December 31, 2022 and 2021, we had $192 million and $175 million of deferred contract costs, respectively, of which $137 million and $126 million, respectively, were related to deferred sales incentives. During each of the years ended December 31, 2022, 2021 and 2020, we amortized $24 million, $23 million and $23 million, respectively, of sales incentives to selling, general and administrative expense. Long-Term Contracts Approximately 20% 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 2022, 2021 and 2020, total interest costs were $425 million, $388 million and $473 million, respectively, of which $29 million, $13 million and $16 million was capitalized in 2022, 2021 and 2020, respectively.
Income Taxes	Income Taxes The Company is primarily 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 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 our income taxes.
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.
Internal-Use Software	Internal-Use Software We include capitalized costs associated with developing or obtaining internal-use software within long-term other assets, and these costs are amortized over the term of the relevant subscription period including any renewal options that are reasonably certain of being exercised. 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. As of December 31, 2022 and 2021, total costs capitalized for our internal-use software were $45 million and $48 million, respectively, net of accumulated amortization of $27 million and $11 million, respectively. During each of the years ended December 31, 2022, 2021 and 2020, we amortized $16 million, $10 million and $1 million, respectively, to selling, general and administrative expense.
Supplemental Cash Flow Information	Supplemental Cash Flow Information The following table shows supplemental cash flow information for the year ended December 31 (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 Interest, net of capitalized interest ​ $ 348 ​ $ 387 ​ $ 461 Income taxes (a) ​ 736 ​ 370 ​ 422 (a) The increase in income taxes paid in 2022 is primarily due to the increase in pre-tax book income during 2022 and a deposit of approximately $103 million made to the Internal Revenue Service (“IRS”) in the fourth quarter of 2022 related to a disputed tax matter for which we expect to seek a refund. See Note 8 for further discussion. During 2022, we had $225 million of non-cash financing activities primarily from our federal low-income housing investment and new financing leases. Additionally, we had approximately $135 million of non-cash investing activities related to non-cash consideration transferred as part of our acquisitions in 2022. See Note 17 for further discussion of our 2022 acquisitions. During 2021, we had $30 million of

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2022
Summary of Significant Accounting Policies
Accounts Receivable, Allowance for Credit Loss [Table Text Block]	The following table reflects the activity in our allowance for doubtful accounts of trade receivables for the year ended December 31 (in millions): ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Balance as of January 1 ​ $ 25 ​ $ 33 Additions charged to expense ​ 55 ​ 35 Accounts written-off, net of recoveries ​ (49) ​ (36) Acquisitions, divestitures and other, net ​ (5) ​ (7) Balance as of December 31 ​ $ 26 ​ $ 25 ​
Summary of the impact of revisions in risk-free discount rate	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 ​ Increase (decrease) in operating expenses ​ $ (14) ​ $ (4) ​ $ 8 ​ Risk-free discount rate applied to environmental remediation liabilities and recovery assets ​ 3.75 % 1.50 % 1.00 % ​
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 10 Vehicles — rail haul cars 10 30 Machinery and equipment — including containers 3 30 Buildings and improvements 5 40 Furniture, fixtures and office equipment 3 10 ​
Summary of investments in unconsolidated entities	​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Equity method investments ​ $ 460 ​ $ 335 Investments without readily determinable fair values ​ 62 ​ ​ 48 Redeemable preferred stock ​ 56 ​ ​ 49 Investments in unconsolidated entities ​ $ 578 ​ $ 432 ​
Schedule of Supplemental Cash Flow Information	The following table shows supplemental cash flow information for the year ended December 31 (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 Interest, net of capitalized interest ​ $ 348 ​ $ 387 ​ $ 461 Income taxes (a) ​ 736 ​ 370 ​ 422 (a) The increase in income taxes paid in 2022 is primarily due to the increase in pre-tax book income during 2022 and a deposit of approximately $103 million made to the Internal Revenue Service (“IRS”) in the fourth quarter of 2022 related to a disputed tax matter for which we expect to seek a refund. See Note 8 for further discussion.

Landfill and Environmental Re_2

Landfill and Environmental Remediation Liabilities (Tables)	12 Months Ended
	Dec. 31, 2022
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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ 2021 ​ ​ ​ ​ ​ Environmental ​ ​ ​ ​ ​ ​ ​ Environmental ​ ​ ​ ​ Landfill Remediation Total Landfill Remediation Total Current (in accrued liabilities) $ 137 ​ $ 31 ​ $ 168 ​ $ 137 ​ $ 29 ​ $ 166 Long-term ​ 2,527 ​ 173 ​ 2,700 2,189 ​ 184 ​ 2,373 ​ $ 2,664 ​ $ 204 ​ $ 2,868 ​ $ 2,326 ​ $ 213 ​ $ 2,539 ​
Changes to Landfill and Environmental Remediation Liabilities	The changes to landfill and environmental remediation liabilities for the year ended December 31, 2022 are reflected in the table below (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Environmental ​ Landfill Remediation December 31, 2021 ​ $ 2,326 ​ $ 213 Obligations incurred and capitalized ​ 114 — Obligations settled ​ (121) (28) Interest accretion ​ 108 4 Revisions in estimates and interest rate assumptions (a) ​ 243 15 Acquisitions, divestitures and other adjustments ​ (6) — December 31, 2022 ​ $ 2,664 ​ $ 204 (a) In 2021, the increase in our landfill liabilities for revisions in estimates and interest rate assumptions was $33 million. The increase in our landfill liabilities in 2022 is primarily due to inflationary cost pressures that are expected to impact costs over the remaining landfill lives.

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment
Property and Equipment	Property and equipment as of December 31 consisted of the following (in millions): ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Land ​ $ 752 ​ $ 732 Landfills ​ 18,526 ​ 17,734 Vehicles ​ 6,173 ​ 5,893 Machinery and equipment ​ 4,401 ​ 3,571 Containers ​ 3,021 ​ 2,807 Buildings and improvements ​ 3,809 ​ 3,542 Furniture, fixtures and office equipment ​ ​ 664 ​ ​ 677 ​ ​ 37,346 ​ 34,956 Less: Accumulated depreciation of tangible property and equipment ​ (10,731) ​ (10,147) Less: Accumulated depletion of landfill airspace ​ (10,896) ​ ​ (10,390) Property and equipment, net ​ $ 15,719 ​ $ 14,419 ​
Depreciation and amortization expense	See Note 11 for information regarding asset impairments. Depreciation and depletion expense, including for assets recorded as financing leases, consisted of the following for the year ended December 31 (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 Depreciation of tangible property and equipment ​ $ 1,155 ​ $ 1,125 ​ $ 996 Depletion of landfill airspace ​ 754 ​ ​ 731 ​ ​ 568 Depreciation and depletion expense ​ $ 1,909 ​ $ 1,856 ​ $ 1,564 ​

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2022
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 2022 ​ ​ ​ ​ Intangible assets ​ $ 1,288 ​ $ 51 ​ $ 141 ​ $ 1,480 Less: Accumulated amortization ​ (543) ​ (23) ​ (87) ​ (653) ​ ​ $ 745 ​ $ 28 ​ $ 54 ​ $ 827 2021 ​ ​ ​ ​ Intangible assets ​ $ 1,355 ​ $ 43 ​ $ 142 ​ $ 1,540 Less: Accumulated amortization ​ ​ (538) ​ (26) ​ (78) ​ ​ (642) ​ ​ $ 817 ​ $ 17 ​ $ 64 ​ $ 898 ​

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2022
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: ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Commercial paper program (weighted average interest rate of 4.9% as of December 31, 2022 and 0.4% as of December 31, 2021) ​ $ 1,730 ​ $ 1,778 Senior notes, maturing through 2050, interest rates ranging from 0.75% to 7.75% (weighted average interest rate of 3.2% as of December 31, 2022 and 3.1% as of December 31, 2021) ​ 8,626 ​ 8,126 Term Loan maturing May 2024, interest rate of 5.1% as of December 31, 2022 ​ ​ 1,000 ​ ​ — Canadian senior notes, C$500 million maturing September 2026, interest rate of 2.6% ​ ​ 369 ​ ​ 395 Tax-exempt bonds, maturing through 2048, fixed and variable interest rates ranging from 0.4% to 4.4% (weighted average interest rate of 2.7% as of December 31, 2022 and 1.4% as of December 31, 2021) ​ 2,648 ​ 2,619 Financing leases and other, maturing through 2071, weighted average interest rate of 4.7% as of December 31, 2022 and 4.5% as of December 31, 2021) (a) ​ 699 ​ 567 Debt issuance costs, discounts and other ​ (88) ​ (80) ​ ​ 14,984 ​ 13,405 Current portion of long-term debt ​ 414 ​ 708 Long-term debt, less current portion ​ $ 14,570 ​ $ 12,697 (a) Excluding our landfill financing leases, the maturities of our financing leases and other debt obligations extend through 2059.

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2022
Leases
Summary of lease balance sheet information	Supplemental balance sheet information for our leases as of December 31 is as follows (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ Leases Classification 2022 2021 Assets ​ ​ ​ ​ ​ ​ ​ Long-term: ​ ​ ​ ​ ​ ​ ​ Operating ​ Other assets ​ $ 456 ​ $ 451 Financing ​ Property and equipment, net of accumulated depreciation and depletion ​ ​ 328 ​ ​ 364 Total lease assets ​ ​ ​ $ 784 ​ $ 815 ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ Current: ​ ​ ​ ​ ​ ​ ​ ​ Operating ​ Accrued liabilities ​ $ 64 ​ $ 64 Financing ​ Current portion of long-term debt ​ ​ 44 ​ ​ 47 Long-term: ​ ​ ​ ​ ​ ​ ​ ​ Operating ​ Other liabilities ​ ​ 460 ​ ​ 459 Financing ​ Long-term debt, less current portion ​ ​ 258 ​ ​ 291 Total lease liabilities ​ ​ ​ $ 826 ​ $ 861 ​
Summary of maturities of operating lease liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating ​ Financing 2023 $ 78 ​ $ 52 2024 ​ 71 ​ ​ 46 2025 ​ 59 ​ ​ 56 2026 ​ 52 ​ ​ 36 2027 ​ ​ 40 ​ ​ 28 Thereafter ​ ​ 414 ​ ​ 169 Total undiscounted lease payments ​ $ 714 ​ $ 387 Less: interest ​ ​ (190) ​ ​ (85) Discounted lease liabilities ​ $ 524 ​ $ 302 ​
Summary of maturities of finance lease liabilities	Minimum contractual obligations for our leases (undiscounted) as of December 31, 2022 are as follows (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating ​ Financing 2023 $ 78 ​ $ 52 2024 ​ 71 ​ ​ 46 2025 ​ 59 ​ ​ 56 2026 ​ 52 ​ ​ 36 2027 ​ ​ 40 ​ ​ 28 Thereafter ​ ​ 414 ​ ​ 169 Total undiscounted lease payments ​ $ 714 ​ $ 387 Less: interest ​ ​ (190) ​ ​ (85) Discounted lease liabilities ​ $ 524 ​ $ 302 ​

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2022
Income Taxes
Provision for Income Taxes	Our income tax expense consisted of the following for the year ended December 31 (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 Current: ​ ​ ​ Federal ​ $ 456 ​ $ 436 ​ $ 114 State ​ 130 ​ 132 ​ 91 Foreign ​ 43 ​ ​ 41 ​ ​ 27 ​ ​ 629 ​ ​ 609 ​ ​ 232 Deferred: ​ ​ ​ ​ ​ Federal ​ 20 ​ ​ (55) ​ ​ 149 State ​ 30 ​ ​ (22) ​ ​ 10 Foreign ​ (1) ​ ​ — ​ ​ 6 ​ ​ 49 ​ ​ (77) ​ ​ 165 Income tax expense ​ $ 678 ​ $ 532 ​ $ 397 ​
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 year ended December 31 as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 ​ 2020 Income tax expense at U.S. federal statutory rate 21.00 % 21.00 % ​ 21.00 % State and local income taxes, net of federal income tax benefit 4.16 4.14 ​ 4.46 ​ Federal tax credits (2.81) (2.69) ​ (3.78) ​ Taxing authority audit settlements and other tax adjustments 0.54 0.53 ​ (0.17) ​ Tax impact of equity-based compensation transactions (0.45) (0.60) ​ (1.12) ​ Tax impact of impairments 0.02 (0.29) ​ (0.35) ​ Tax rate differential on foreign income 0.27 0.37 ​ 0.33 ​ Other 0.51 0.16 ​ 0.57 ​ Effective income tax rate 23.24 % 22.62 % ​ 20.94 % ​
Summary of income source	For financial reporting purposes, income before income taxes by source for the year ended December 31 was as follows (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 Domestic ​ $ 2,779 ​ $ 2,211 ​ $ 1,780 Foreign ​ 139 ​ ​ 138 ​ ​ 113 Income before income taxes ​ $ 2,918 ​ $ 2,349 ​ $ 1,893 ​
Components of Net Deferred Tax Assets (Liabilities)	The components of net deferred tax liabilities as of December 31 are as follows (in millions): ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Deferred tax assets: ​ ​ Net operating loss, capital loss and tax credit carry-forwards ​ $ 155 ​ $ 189 Landfill and environmental remediation liabilities ​ 216 ​ 238 Operating lease liabilities ​ 131 ​ 135 Miscellaneous and other reserves, net ​ 117 ​ 113 Subtotal ​ 619 ​ 675 Valuation allowance ​ (143) ​ (158) Deferred tax liabilities: ​ ​ Property and equipment ​ (1,061) ​ (1,064) Goodwill and other intangibles ​ (1,034) ​ (1,027) Operating lease right-of-use assets ​ (114) ​ (120) Net deferred tax liabilities ​ $ (1,733) ​ $ (1,694) ​
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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 Balance as of January 1 ​ $ 64 ​ $ 37 ​ $ 40 Additions based on tax positions related to the current year ​ 5 ​ 22 ​ 5 Additions based on tax positions of prior years ​ — ​ 18 ​ — Accrued interest ​ 1 ​ 3 ​ 2 Settlements ​ — ​ (12) ​ — Lapse of statute of limitations ​ (6) ​ (4) ​ (10) Balance as of December 31 ​ $ 64 ​ $ 64 ​ $ 37 ​

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2022
Employee Benefit Plans
Individually Significant Multiemployer Pension Plans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Expiration Date ​ ​ ​ ​ Pension Protection Act ​ ​ ​ Company ​ of Collective ​ ​ EIN/Pension Plan ​ Reported Status(a) ​ FIP/RP ​ Contributions ​ Bargaining Pension Fund Number 2022 2021 Status(b)(c) 2022 2021 2020 Agreement(s) Automotive Industries Pension Plan EIN: 94-1133245; Critical and Declining Critical and Declining Implemented ​ $ 1 ​ $ 1 ​ $ 1 6/30/2025 Midwest Operating Engineers Pension Trust Fund ​ EIN: 36-6140097; ​ Not Endangered or Critical as of 3/31/2022 ​ Not Endangered or Critical as of 3/31/2021 ​ Implemented ​ ​ 2 ​ ​ 2 ​ ​ 2 ​ Various dates Suburban Teamsters of Northern Illinois Pension Plan (d) EIN: 36-6155778; Not Endangered or Critical Not Endangered or Critical Implemented ​ 4 ​ 4 ​ 3 Various dates through 9/30/2027 Western Conference of Teamsters Pension Plan EIN: 91-6145047; Not Endangered or Critical Not Endangered or Critical Not ​ 37 ​ 35 ​ 33 Various dates ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 44 ​ $ 42 ​ $ 39 ​ ​ Contributions to other Multiemployer Pension Plans ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 17 ​ ​ 19 ​ ​ 15 ​ ​ Total contributions to Multiemployer Pension Plans (e) ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 61 ​ $ 61 ​ $ 54 ​ ​ (a) Unless otherwise noted in the table above, the most recent Pension Protection Act zone status available in 2022 and 2021 is for the plan’s year-end as of December 31, 2021 and 2020, 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 . (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, 2021 and 2020. (e) Total contributions to Multiemployer Pension Plans exclude contributions related to withdrawal liabilities.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies.
Changes to Gross Insurance Liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ 2022(a) 2021 Balance as of January 1 ​ $ 734 ​ $ 664 Self-insurance expense ​ 242 ​ 240 Cash paid and other ​ ​ (247) ​ ​ (170) Balance as of December 31 ​ $ 729 ​ $ 734 Current portion as of December 31 ​ $ 189 ​ $ 191 Long-term portion as of December 31 ​ $ 540 ​ $ 543 (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, 2022
Asset Impairments and Unusual Items
Summary of 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 year ended December 31 (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 Gain from divestitures, net ​ $ (5) ​ $ (44) ​ $ (33) Asset impairments ​ 50 ​ 8 ​ 68 Other ​ 17 ​ 20 ​ — ​ ​ $ 62 ​ $ (16) ​ $ 35 ​

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	12 Months Ended
	Dec. 31, 2022
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 WMI 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(a) Obligations Total Balance, December 31, 2019 ​ $ (24) ​ $ 38 ​ $ (21) ​ $ (1) ​ $ (8) Other comprehensive income (loss) before reclassifications, net of tax expense (benefit) of $2, $4, $0 and $1, respectively ​ 7 ​ 12 ​ 20 ​ 2 ​ 41 Amounts reclassified from accumulated other comprehensive (income) loss, net of tax (expense) benefit of $2, $0, $0 and $(1), respectively ​ 8 ​ (1) ​ — ​ (1) ​ 6 Net current period other comprehensive income (loss) ​ 15 ​ 11 ​ 20 ​ 1 ​ 47 Balance, December 31, 2020 ​ $ (9) ​ $ 49 ​ $ (1) ​ $ — ​ $ 39 Other comprehensive income (loss) before reclassifications, net of tax expense (benefit) of $0, $(2), $0 and $2, respectively ​ — ​ (6) ​ 7 ​ 5 ​ 6 Amounts reclassified from accumulated other comprehensive (income) loss, net of tax (expense) benefit of $3, $0, $0 and $0, respectively ​ 9 ​ — ​ (35) ​ (2) ​ (28) Net current period other comprehensive income (loss) ​ 9 ​ (6) ​ (28) ​ 3 ​ (22) Balance, December 31, 2021 ​ $ — ​ $ 43 ​ $ (29) ​ $ 3 ​ $ 17 Other comprehensive income (loss) before reclassifications, net of tax expense (benefit) of $0, $(8), $0 and $0, respectively ​ — ​ (24) ​ (65) ​ 1 ​ (88) Amounts reclassified from accumulated other comprehensive (income) loss, net of tax (expense) benefit of $1, $0, $0 and $0, respectively ​ 3 ​ — ​ — ​ (1) ​ 2 Net current period other comprehensive income (loss) ​ 3 ​ (24) ​ (65) ​ — ​ (86) Balance, December 31, 2022 ​ $ 3 ​ $ 19 ​ $ (94) ​ $ 3 ​ $ (69) ​ (a) As a result of the divestiture of certain non-strategic Canadian operations in the third quarter of 2021, we reclassified $35 million of cumulative foreign currency translation adjustments from accumulated other comprehensive income to (gain) loss from divestitures, asset impairments and unusual items, net within our Consolidated Statement of Operations .

Capital Stock, Dividends and _2

Capital Stock, Dividends and Common Stock Repurchase Program (Tables)	12 Months Ended
	Dec. 31, 2022
Capital Stock, Dividends and Common Stock Repurchase Program
Summary of shares repurchased	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022(a) 2021(b) 2020(c) Shares repurchased (in thousands) ​ 9,796 ​ 8,731 ​ 3,687 Weighted average price per share $ 160.26 ​ $ 146.61 ​ $ 108.92 Total repurchases (in millions) ​ $ 1,570 ​ $ 1,280 ​ $ 402 (a) We executed and completed four ASR agreements during 2022 to repurchase $1.417 billion of our common stock and received 8.8 million shares in connection with these ASR agreements. We also 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 Securities Exchange Act of 1934 (“Exchange Act”) for $83 million, inclusive of per-share commissions. Shares repurchased in 2022 include 0.4 million shares of our common stock for $70 million pursuant to our December 2021 ASR agreement that completed in January 2022. (b) We executed and completed three ASR agreements during 2021 to repurchase $1.0 billion of our common stock and received 7.0 million shares in connection with these ASR agreements. Additionally, in December 2021, we executed an ASR agreement to repurchase $350 million of our common stock. At the beginning of the repurchase period, we delivered $350 million in cash and received 1.7 million shares based on a stock price of $160.67 . The ASR agreement completed in January 2022, at which time we received 0.4 million additional shares based on a final weighted average price of $160.33 . (c) During 2020, we executed and completed an ASR agreement to repurchase $313 million of our common stock and received 2.8 million shares in connection with this ASR agreement. We also repurchased an additional 0.9 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 $89 million, inclusive of per-share commissions.

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2022
Equity-Based Compensation
Summary of RSUs	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ ​ ​ Per Share ​ Units Fair Value Unvested as of January 1, 2022 343 ​ $ 114.28 Granted 162 ​ $ 147.74 Vested (107) ​ $ 100.11 Forfeited (33) ​ $ 136.43 Unvested as of December 31, 2022 365 ​ $ 131.26 ​
Summary of PSUs	​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ ​ ​ Per Share ​ Units Fair Value Unvested as of January 1, 2022 968 ​ $ 129.60 Granted 290 ​ $ 168.49 Vested (346) ​ $ 116.26 Forfeited (48) ​ $ 147.79 Unvested as of December 31, 2022 864 ​ $ 147.00 ​
Summary of Stock Options	​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ ​ ​ Per Share ​ Options Exercise Price Outstanding as of January 1, 2022 3,206 ​ $ 92.53 Granted 477 ​ $ 145.67 Exercised (a) (675) ​ $ 88.54 Forfeited or expired (85) ​ $ 124.31 Outstanding as of December 31, 2022 (b) 2,923 ​ $ 101.22 Exercisable as of December 31, 2022 (c) 1,762 ​ $ 83.34 (a) Includes approximately 141,000 stock options exercised pursuant to Rule 10b5-1 trading plans that provided for net share settlement, resulting in the Company withholding approximately 112,000 shares of our common stock to cover the associated stock option exercise price and taxes. (b) Stock options outstanding as of December 31, 2022 have a weighted average remaining contractual term of 6.2 years and an aggregate intrinsic value of $163 million based on the market value of our common stock on December 31, 2022. (c) Stock options exercisable as of December 31, 2022 have an aggregate intrinsic value of $130 million based on the market value of our common stock on December 31, 2022.
Summary of Exercisable Stock Options	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ ​ ​ ​ Per Share ​ Weighted Average Range of Exercise Prices Options Exercise Price Remaining Years $36.88-$50.00 166 ​ $ 40.31 1.0 $50.01-$70.00 355 ​ $ 55.53 2.7 $70.01-$100.00 888 ​ $ 87.95 5.3 $100.01-$145.67 353 ​ $ 119.87 7.6 $36.88-$145.67 1,762 ​ $ 83.34 5.0 ​
Weighted Average Assumptions Used to Value Employee Stock Options Granted	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 Expected option life 4.7 years 4.7 years 4.6 years Expected volatility 23.4 % 23.2 % 16.6 % Expected dividend yield 1.8 % 2.1 % 1.7 % Risk-free interest rate 1.6 % 0.6 % 1.4 % ​

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2022
Earnings Per Share
Computing Basic and Diluted Earnings Per Share	Basic and diluted earnings per share were computed using the following common share data for the year ended December 31 (shares in millions): ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 Number of common shares outstanding at end of period 407.9 ​ 416.1 422.8 Effect of using weighted average common shares outstanding 4.9 ​ 4.3 0.2 Weighted average basic common shares outstanding 412.8 ​ 420.4 423.0 Dilutive effect of equity-based compensation awards and other contingently issuable shares 2.2 ​ 2.5 2.1 Weighted average diluted common shares outstanding 415.0 ​ 422.9 425.1 Potentially issuable shares 5.2 ​ 5.7 6.1 Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding 1.1 ​ 0.6 1.6 ​

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2022
Fair Value Measurements
Fair Value of Assets and Liabilities Measured on Recurring Basis	​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 Quoted prices in active markets (Level 1): ​ ​ ​ ​ ​ ​ Cash equivalents and money market funds $ 240 $ 38 Equity securities ​ ​ 37 ​ ​ 25 Significant other observable inputs (Level 2): ​ ​ ​ ​ ​ ​ Available-for-sale securities ​ 360 ​ ​ 395 Significant unobservable inputs (Level 3): ​ ​ ​ ​ ​ ​ Redeemable preferred stock ​ 56 ​ 49 Total Assets $ 693 ​ $ 507 ​

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables) - Advanced Disposal [Member]	12 Months Ended
	Dec. 31, 2022
Business Acquisition
Summary of purchase price allocation	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ October 30, 2020 ​ ​ Adjustments ​ ​ October 30, 2021 Accounts and other receivables ​ $ 159 ​ $ 1 ​ $ 160 Parts and supplies 8 (1) ​ 7 Other current assets ​ ​ 17 ​ ​ (1) ​ ​ 16 Assets held for sale (a) ​ ​ 1,022 ​ ​ — ​ ​ 1,022 Property and equipment ​ ​ 1,278 ​ ​ (12) ​ ​ 1,266 Goodwill ​ ​ 2,470 ​ ​ 26 ​ ​ 2,496 Other intangible assets ​ ​ 604 ​ ​ (3) ​ ​ 601 Investments in unconsolidated entities ​ ​ 9 ​ ​ — ​ ​ 9 Other assets ​ ​ 27 ​ ​ (2) ​ ​ 25 Accounts payable ​ ​ (107) ​ ​ 1 ​ ​ (106) Accrued liabilities ​ ​ (155) ​ ​ (3) ​ ​ (158) Deferred revenues ​ ​ (19) ​ ​ — ​ ​ (19) Current portion of long-term debt ​ ​ (12) ​ ​ — ​ ​ (12) Liabilities held for sale (a) ​ ​ (234) ​ ​ — ​ ​ (234) Long-term debt, less current portion (b) ​ ​ (441) ​ ​ — ​ ​ (441) Landfill and environmental remediation liabilities ​ ​ (242) ​ ​ (13) ​ ​ (255) Deferred income taxes ​ ​ (223) ​ ​ 9 ​ ​ (214) Other liabilities ​ ​ (79) ​ ​ (2) ​ ​ (81) Total purchase price ​ $ 4,082 ​ $ — ​ $ 4,082 (a) In connection with our acquisition of Advanced Disposal, we and Advanced Disposal entered into an agreement that provided for GFL Environmental to acquire a combination of assets from us and Advanced Disposal to address divestitures required by the U.S. Department of Justice. Upon acquisition these assets met the criteria for reporting discontinued operations and were classified as held for sale and included within the “Assets held for sale” and “Liabilities held for sale” line items in the above final allocation of purchase price. Immediately following the acquisition, the divestiture transactions were consummated and the Company subsequently received cash proceeds from the sale of $856 million. ​ (b) At the time of acquisition, Advanced Disposal had outstanding $425 million of 5.625% senior notes due November 2024, the fair value of which was $438 million. In November 2020, we redeemed the notes pursuant to an optional redemption feature.
Summary of pro forma results	​ ​ ​ ​ ​ ​ 2020 Operating revenues ​ $ 16,192 Net income attributable to Waste Management, Inc. ​ 1,685 Basic earnings per common share ​ ​ 3.99 Diluted earnings per common share ​ ​ 3.96 ​ ​ ​ ​ Weighted average common shares outstanding: ​ ​ ​ Basic ​ 423 Diluted ​ 425 ​

Segment and Related Informati_2

Segment and Related Information (Tables)	12 Months Ended
	Dec. 31, 2022
Segment and Related Information
Reportable Segments	Summarized financial information concerning our reportable segments as of December 31 and for the year then ended is shown in the following table (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Intercompany ​ Net ​ Income Depreciation, ​ Capital ​ Total ​ ​ Operating ​ Operating ​ Operating ​ from Depletion and ​ Expenditures ​ Assets ​ Revenues Revenues(d) Revenues Operations(e) Amortization (f) (g)(h) Years Ended December 31: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ ​ ​ ​ ​ ​ ​ ​ Solid Waste: ​ ​ ​ ​ ​ ​ ​ ​ East Tier ​ $ 10,283 ​ $ (1,977) ​ $ 8,306 ​ $ 2,249 ​ $ 998 ​ $ 1,129 ​ $ 14,741 West Tier ​ 10,190 ​ (2,123) ​ 8,067 ​ 2,346 ​ 878 ​ 1,047 ​ 11,916 Solid Waste (a) ​ 20,473 ​ (4,100) ​ 16,373 ​ 4,595 ​ 1,876 ​ 2,176 ​ 26,657 Other (b) ​ 3,545 ​ (220) ​ 3,325 ​ 26 ​ 66 ​ 328 ​ 1,972 ​ ​ ​ 24,018 ​ ​ (4,320) ​ ​ 19,698 ​ ​ 4,621 ​ ​ 1,942 ​ ​ 2,504 ​ ​ 28,629 Corporate and Other (c) ​ — ​ — ​ — ​ (1,256) ​ 96 ​ 305 ​ 3,048 Total ​ $ 24,018 ​ $ (4,320) ​ $ 19,698 ​ $ 3,365 ​ $ 2,038 ​ $ 2,809 ​ $ 31,677 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ ​ ​ ​ ​ ​ ​ Solid Waste: ​ ​ ​ ​ ​ ​ ​ East Tier ​ $ 9,278 ​ $ (1,738) ​ $ 7,540 ​ $ 2,037 ​ $ 970 ​ $ 708 ​ $ 14,269 West Tier ​ 9,369 ​ (1,908) ​ 7,461 ​ 2,103 ​ 883 ​ 579 ​ 11,476 Solid Waste (a) ​ 18,647 ​ (3,646) ​ 15,001 ​ 4,140 ​ 1,853 ​ 1,287 ​ 25,745 Other (b) ​ 3,046 ​ (116) ​ 2,930 ​ 34 ​ 70 ​ 181 ​ 1,275 ​ ​ ​ 21,693 ​ ​ (3,762) ​ ​ 17,931 ​ ​ 4,174 ​ ​ 1,923 ​ ​ 1,468 ​ ​ 27,020 Corporate and Other (c) ​ — ​ — ​ — ​ (1,209) ​ 76 ​ 571 ​ 2,372 Total ​ $ 21,693 ​ $ (3,762) ​ $ 17,931 ​ $ 2,965 ​ $ 1,999 ​ $ 2,039 ​ $ 29,392 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 ​ ​ ​ ​ ​ ​ ​ Solid Waste: ​ ​ ​ ​ ​ ​ ​ East Tier ​ $ 7,873 ​ $ (1,503) ​ $ 6,370 ​ $ 1,672 ​ $ 801 ​ $ 537 ​ $ 14,274 West Tier ​ 8,241 ​ (1,657) ​ 6,584 ​ 1,800 ​ 738 ​ 465 ​ 11,501 Solid Waste (a) ​ 16,114 ​ (3,160) ​ 12,954 ​ 3,472 ​ 1,539 ​ 1,002 ​ 25,775 Other (b) ​ 2,364 ​ (100) ​ 2,264 ​ (42) ​ 87 ​ 75 ​ 2,064 ​ ​ ​ 18,478 ​ ​ (3,260) ​ ​ 15,218 ​ ​ 3,430 ​ ​ 1,626 ​ ​ 1,077 ​ ​ 27,839 Corporate and Other (c) ​ — ​ — ​ — ​ (996) ​ 45 ​ 508 ​ 1,810 Total ​ $ 18,478 ​ $ (3,260) ​ $ 15,218 ​ $ 2,434 ​ $ 1,671 ​ $ 1,585 ​ $ 29,649 (a) 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. Income from operations in our Solid Waste business increased in 2022, as compared with 2021, primarily due to revenue growth in our collection and disposal businesses driven by both yield and volume. This increase was partially offset by (i) inflationary cost pressures; (ii) labor cost increases from frontline employee wage adjustments; (iii) divestitures, asset impairments and unusual items, discussed in Note 11 above, that impacted our East Tier results and (iv) reduced profitability in our recycling business from the decline in recycling commodity prices and lower volumes. Income from operations in our Solid Waste business increased in 2021, as compared with 2020, primarily due to (i) revenue growth in our collection and disposal businesses driven by both yield and volume, as well as the acquisition of Advanced Disposal; (ii) improved profitability in our recycling business from higher market prices for recycling commodities and improved costs at facilities where we have made investments in enhanced technology and equipment and (iii) changes from divestitures, asset impairments and unusual items, discussed in Note 11, that impacted both Tiers’ results. These increases were partially offset by (i) labor cost pressure from frontline employee wage adjustments, increased turnover driving up training costs and higher overtime due to driver shortages and volume growth; (ii) increased landfill depletion from higher volumes and revisions in landfill estimates, including the anticipated timing of capping, closure and post-closure activities at certain landfills and adjustments in 2020 to the inflation rate used to estimate capping, closure, and post-closure asset retirement obligations that benefitted costs in 2020 and (iii) inflationary cost pressures. During 2021, the positive earnings contributions from Advanced Disposal were offset by elevated depreciation, depletion and amortization of acquired assets. (b) “Other” includes (i) elements of our Strategic Business Solutions (“WMSBS”) business that are not included in the operations of our reportable segments; (ii) elements of our sustainability business that includes landfill gas-to-energy operations managed by our WM Renewable Energy business, our SES business and recycling brokerage services and not included in the operations of our reportable segments; (iii) certain other expanded service offerings and solutions and (iv) the results of non-operating entities that provide financial assurance and self-insurance support for our Solid Waste business, net of intercompany activity. The decrease in income from operations in 2022, as compared with 2021, was due to the recognition of acquisition and integration-related costs, as well as, a prior year gain from divestitures of certain ancillary operations in our Other segment, discussed in Note 11, partially offset by improved profitability in our SES and WMSBS businesses. The increase in income from operations for 2021, as compared to 2020, was primarily driven by increased market values for renewable energy credits generated by our WM Renewable Energy business. (c) “Corporate and other” 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, digital, 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. These costs increased in 2022, as compared with 2021, primarily due to strategic investments in our digital platform and sustainability initiatives, partially offset by lower acquisition and integration related costs. These costs increased in 2021, as compared with 2020, due to (i) higher incentive compensation costs; (ii) increased labor, support and integration costs following our acquisition of Advanced Disposal; (iii) strategic investments in our digital platform; (iv) increased health and welfare costs attributable to medical care activity generally returning to pre-pandemic levels from the lower levels experienced during 2020 and (v) charges pertaining to reserves for certain loss contingencies during 2021. These increases were partially offset by lower consulting, advisory and legal fees following the completion of our acquisition of Advanced Disposal in the fourth quarter of 2020 and changes in the measurement of our environmental remediation obligations and recovery assets in both 2020 and 2021. (d) 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. (e) 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 2. (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, include timing differences for amounts 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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 Total assets, as reported above ​ $ 31,677 ​ $ 29,392 ​ $ 29,649 Elimination of intercompany investments and advances ​ (310) ​ (295) ​ (304) Total assets, per Consolidated Balance Sheet ​ $ 31,367 ​ $ 29,097 ​ $ 29,345 ​ (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 Tiers 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 ​ ​ ​ ​ ​ ​ ​ East Tier West Tier Other Total Balance, December 31, 2020 ​ $ 5,101 ​ $ 3,823 ​ $ 70 ​ $ 8,994 Acquired goodwill (a) ​ 27 ​ 15 ​ 34 ​ 76 Divested goodwill ​ (11) ​ (7) ​ (29) ​ (47) Foreign currency translation and other ​ 3 ​ 2 ​ — ​ 5 Balance, December 31, 2021 ​ $ 5,120 ​ $ 3,833 ​ $ 75 ​ $ 9,028 Acquired goodwill ​ 92 ​ 24 ​ 209 ​ 325 Divested goodwill ​ — ​ — ​ — ​ — Foreign currency translation and other ​ (30) ​ — ​ — ​ (30) Balance, December 31, 2022 ​ $ 5,182 ​ $ 3,857 ​ $ 284 ​ $ 9,323 (a) Includes $26 million of post-closing acquisition adjustments related to our acquisition of Advanced Disposal. ​
Reconciliation of Segment Assets to Consolidated Total	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 Total assets, as reported above ​ $ 31,677 ​ $ 29,392 ​ $ 29,649 Elimination of intercompany investments and advances ​ (310) ​ (295) ​ (304) Total assets, per Consolidated Balance Sheet ​ $ 31,367 ​ $ 29,097 ​ $ 29,345 ​
Changes in Goodwill by Reportable Segment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Solid Waste ​ ​ ​ ​ ​ ​ ​ East Tier West Tier Other Total Balance, December 31, 2020 ​ $ 5,101 ​ $ 3,823 ​ $ 70 ​ $ 8,994 Acquired goodwill (a) ​ 27 ​ 15 ​ 34 ​ 76 Divested goodwill ​ (11) ​ (7) ​ (29) ​ (47) Foreign currency translation and other ​ 3 ​ 2 ​ — ​ 5 Balance, December 31, 2021 ​ $ 5,120 ​ $ 3,833 ​ $ 75 ​ $ 9,028 Acquired goodwill ​ 92 ​ 24 ​ 209 ​ 325 Divested goodwill ​ — ​ — ​ — ​ — Foreign currency translation and other ​ (30) ​ — ​ — ​ (30) Balance, December 31, 2022 ​ $ 5,182 ​ $ 3,857 ​ $ 284 ​ $ 9,323 (a) Includes $26 million of post-closing acquisition adjustments related to our acquisition of Advanced Disposal. ​
Summary of operating revenues mix	The mix of operating revenues from our major lines of business for the year ended December 31 are as follows (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 Commercial ​ ​ $ 5,450 ​ $ 4,760 ​ $ 4,102 Industrial ​ ​ 3,681 ​ 3,210 ​ 2,770 Residential ​ ​ 3,339 ​ 3,172 ​ 2,716 Other collection ​ ​ 699 ​ 533 ​ 465 Total collection ​ ​ 13,169 ​ 11,675 ​ 10,053 Landfill ​ ​ 4,600 ​ 4,153 ​ 3,667 Transfer ​ ​ 2,143 ​ 2,072 ​ 1,855 Recycling ​ ​ 1,701 ​ 1,681 ​ 1,127 Other (a) ​ ​ 2,405 ​ 2,112 ​ 1,776 Intercompany (b) ​ ​ (4,320) ​ (3,762) ​ (3,260) Total ​ ​ $ 19,698 ​ $ 17,931 ​ $ 15,218 (a) The “Other” line of business includes (i) certain services provided by our WMSBS business; (ii) certain services within our sustainability business including our landfill gas-to-energy operations managed by our WM Renewable Energy business and (iii) certain other expanded service offerings and solutions and reflects the results of non-operating entities that provide financial assurance and self-insurance support for our Solid Waste business, net of intercompany activity. Revenue attributable to collection, landfill, transfer and recycling services provided by our “Other” businesses has been reflected as a component of the relevant line of business for purposes of presentation in this table. (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 year ended December 31 are as follows (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 U.S. ​ $ 18,860 ​ $ 17,136 ​ $ 14,505 Canada ​ 838 ​ 795 ​ 713 Total ​ $ 19,698 ​ $ 17,931 ​ $ 15,218 ​
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 depletion, relating to operations in the U.S. and Canada for the year ended December 31 are as follows (in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 2020 U.S. ​ $ 14,725 ​ $ 13,428 ​ $ 13,168 Canada ​ 994 ​ 991 ​ 980 Total ​ $ 15,719 ​ $ 14,419 ​ $ 14,148

Basis of Presentation (Detail)

Basis of Presentation (Detail)	12 Months Ended
	Dec. 31, 2022 segment
Basis of Presentation
Number of segments	2

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Credit loss (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Allowance activity
Allowance for doubtful accounts, beginning balance	$ 25	$ 33
Additions charged to expense	55	35
Accounts written-off, net of recoveries	(49)	(36)
Acquisitions, divestitures and other, net	(5)	(7)
Allowance for doubtful accounts, ending balance	26	25
Accounts receivable, net of allowance	$ 2,461	$ 2,278
Receivables outstanding less than 60 days (as a percent)	90%	90%
Threshold period to measure receivables	60 days	60 days
Receivables classified as current (as a percent)	0.55%	0.60%
Receivables related to income tax payments in excess of our provision for income taxes	$ 150	$ 166
Federal Fuel Credits Receivable	$ 19	$ 14

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Landfill (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) site item	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Significant accounting policies
Number of expansion landfill sites require CFO approval inclusion of unpermitted airspace | item	2
Environmental remediation reasonably possible additional losses high estimate	$ 135
Environmental remediation liabilities	204
Environmental remediation liabilities not subject to inflation or discounting	31	$ 31
Increase (decrease) in environmental remediation liabilities	$ 10	$ (6)
Landfill [Member]
Significant accounting policies
Inflation rate	2.50%	2.25%	2.25%
Credit adjusted, risk free discount rate applicable to long-term asset retirement obligations	4.80%
Number of landfills sites with expansion | site	16
Risk-free discount rate applied to environmental remediation liabilities and recovery assets	3.75%	1.50%	1%
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]
Significant accounting policies
Concentration of risk threshold (as a percent)	5%	5%
Environmental Remediation Liabilities [Member]
Significant accounting policies
Environmental remediation liabilities	$ 204	$ 213
Increase (decrease) in operating expenses	$ (14)	$ (4)	$ 8
Risk-free discount rate applied to environmental remediation liabilities and recovery assets	3.75%	1.50%	1%

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Property and Equipment (Detail)	12 Months Ended
	Dec. 31, 2022
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_7

Summary of Significant Accounting Policies - Intangibles (Detail)	12 Months Ended
	Dec. 31, 2022
Customer and Supplier Relationships [Member] | Minimum [Member]
Significant accounting policies
Amortizable period of the intangible assets	10 years
Customer and Supplier Relationships [Member] | Maximum [Member]
Significant accounting policies
Amortizable period of the intangible assets	15 years
Non-compete Covenant [Member]
Significant accounting policies
Amortizable period of the intangible assets	5 years

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Investments (Detail) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Summary of Significant Accounting Policies
Equity method investments	$ 460	$ 335
Investments without readily determinable fair values	62	48
Redeemable preferred stock	56	49
Investments in unconsolidated entities	$ 578	$ 432

Summary of Significant Accoun_9

Summary of Significant Accounting Policies - Foreign Currency (Detail) - $ / $	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Summary of Significant Accounting Policies
Dollar exchange rate	1.3554	1.2639	1.2734

Summary of Significant Accou_10

Summary of Significant Accounting Policies - Revenue Recognition (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Capitalized Costs
Deferred contract costs	$ 192	$ 175
Deferred contract costs amortization	$ 24	23	$ 23
Long-term revenue contracts (as a percent)	20%
Weighted average remaining contract term	4 years
Deferred Sales Incentives [Member]
Capitalized Costs
Deferred contract costs	$ 137	$ 126
Minimum [Member]
Capitalized Costs
Deferred revenue recognition period	1 month
Contract amortization period	5 years
Maximum [Member]
Capitalized Costs
Deferred revenue recognition period	3 months
Contract amortization period	13 years

Summary of Significant Accou_11

Summary of Significant Accounting Policies - Interest and Software (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Summary of Significant Accounting Policies
Total interest costs	$ 425	$ 388	$ 473
Total capitalized interest costs	29	13	16
Capitalized internal-use software, net	45	48
Internal-use software accumulated amortization	27	11
Internal-use software amortization expense	$ 16	$ 10	$ 1

Summary of Significant Accou_12

Summary of Significant Accounting Policies - Supplemental Cash Flow (Detail) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule of Equity Method Investments [Line Items]
Interest, net of capitalized interest		$ 348	$ 387	$ 461
Income taxes		736	370	422
Non-cash financing activities		225	$ 30	$ 50
Non-cash acquisition consideration		$ 135
2017 Audit [Member]
Schedule of Equity Method Investments [Line Items]
Income tax deposit paid	$ 103

Landfill and Environmental Re_3

Landfill and Environmental Remediation Liabilities - Summary (Detail) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Landfill and environmental remediation liabilities
Environmental Loss Contingency, Current, Statement of Financial Position [Extensible Enumeration]	Accrued Liabilities, Current	Accrued Liabilities, Current
Environmental Loss Contingency, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Long-term	Long-term
Total, Environmental Remediation	$ 204
Environmental Loss Contingency, Statement of Financial Position [Extensible Enumeration]	Long-term, Accrued Liabilities, Current	Long-term, Accrued Liabilities, Current
Current (in accrued liabilities)	$ 168	$ 166
Long-term	2,700	2,373
Total	2,868	2,539
Landfill [Member]
Landfill and environmental remediation liabilities
Current (in accrued liabilities), Landfill	137	137
Long-term, Landfill	2,527	2,189
Total, Landfill	2,664	2,326
Environmental Remediation Liabilities [Member]
Landfill and environmental remediation liabilities
Current (in accrued liabilities), Environmental Remediation	31	29
Long-term, Environmental Remediation	173	184
Total, Environmental Remediation	$ 204	$ 213

Landfill and Environmental Re_4

Landfill and Environmental Remediation Liabilities - Changes (Detail) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Landfill and environmental remediation liabilities
Revisions in estimates and interest rate assumptions			$ 33
Ending balance, environmental remediation		$ 204
San Jacinto Waste Pits [Member]
Landfill and environmental remediation liabilities
Beginning balance, environmental remediation	$ 53	53
Revisions in estimates and interest rate assumptions	17	17
Ending balance, environmental remediation		68	53
Landfill [Member]
Landfill and environmental remediation liabilities
Beginning balance, landfill	2,326	2,326
Obligations incurred and capitalized		114
Obligations settled		(121)
Interest accretion		108
Revisions in estimates and interest rate assumptions		243
Acquisitions, divestitures and other adjustments		(6)
Ending balance, landfill		2,664	2,326
Environmental Remediation Liabilities [Member]
Landfill and environmental remediation liabilities
Beginning balance, environmental remediation	$ 213	213
Obligations settled		(28)
Interest accretion		4
Revisions in estimates and interest rate assumptions		15
Ending balance, environmental remediation		$ 204	$ 213

Landfill and Environmental Re_5

Landfill and Environmental Remediation Liabilities - Est payments (Detail) $ in Millions	Dec. 31, 2022 USD ($)
Landfill and Environmental Remediation Liabilities
2023	$ 31
2024	43
2025	29
2026	19
2027	16
Thereafter	$ 76

Property and Equipment - Proper

Property and Equipment - Property and Equipment (Detail) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment
Property and equipment , gross	$ 37,346	$ 34,956
Less accumulated depreciation, depletion and amortization	(21,627)	(20,537)
Property, Plant and Equipment, Net, Total	15,719	14,419	$ 14,148
Land [Member]
Property, Plant and Equipment
Property and equipment , gross	752	732
Landfill [Member]
Property, Plant and Equipment
Property and equipment , gross	18,526	17,734
Vehicles [Member]
Property, Plant and Equipment
Property and equipment , gross	6,173	5,893
Machinery and Equipment [Member]
Property, Plant and Equipment
Property and equipment , gross	4,401	3,571
Containers [Member]
Property, Plant and Equipment
Property and equipment , gross	3,021	2,807
Building and Improvements [Member]
Property, Plant and Equipment
Property and equipment , gross	3,809	3,542
Furniture, Fixtures and Office Equipment [Member]
Property, Plant and Equipment
Property and equipment , gross	664	677
Tangible Property and Equipment [Member]
Property, Plant and Equipment
Less accumulated depreciation, depletion and amortization	(10,731)	(10,147)
Landfill Airspace [Member]
Property, Plant and Equipment
Less accumulated depreciation, depletion and amortization	$ (10,896)	$ (10,390)

Property and Equipment - Expens

Property and Equipment - Expense (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment
Depreciation and depletion expense	$ 2,038	$ 1,999	$ 1,671
Tangible Property and Equipment [Member]
Property, Plant and Equipment
Depreciation and depletion expense	1,155	1,125	996
Landfill Airspace [Member]
Property, Plant and Equipment
Depreciation and depletion expense	754	731	568
Property and Equipment [Member]
Property, Plant and Equipment
Depreciation and depletion expense	$ 1,909	$ 1,856	$ 1,564

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Goodwill (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Intangible assets
Goodwill	$ 9,323	$ 9,028	$ 8,994
Increase in goodwill during the period	295
Intangible assets	1,480	1,540
Less: Accumulated amortization	(653)	(642)
Total	827	898
Customer and Supplier Relationships [Member]
Intangible assets
Intangible assets	1,288	1,355
Less: Accumulated amortization	(543)	(538)
Total	745	817
Non-compete Covenant [Member]
Intangible assets
Intangible assets	51	43
Less: Accumulated amortization	(23)	(26)
Total	28	17
Licenses Permits and Other [Member]
Intangible assets
Intangible assets	141	142
Less: Accumulated amortization	(87)	(78)
Total	$ 54	$ 64

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Intangibles (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Goodwill and Other Intangible Assets
Intangible assets amortization	$ 129	$ 143	$ 107
Indefinite-lived intangible assets	19	$ 19
2023	120
2024	110
2025	101
2026	80
2027	$ 75

Debt - Components (Detail)

Debt - Components (Detail) $ in Millions, $ in Millions	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CAD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2021 CAD ($)
Debt
Debt	$ 14,984		$ 13,405
Debt issuance costs, discounts and other	(88)		(80)
Current portion of long-term debt	414		708
Long-term debt, less current portion	14,570		12,697
Commercial Paper Program [Member]
Debt
Debt	$ 1,730		$ 1,778
Weighted average interest rate	4.90%	4.90%	0.40%	0.40%
Term Loan maturing May 2024 [Member]
Debt
Debt	$ 1,000
Effective interest rate (as a percent)	5.10%	5.10%
Senior Notes, Aggregate [Member]
Debt
Debt	$ 8,626		$ 8,126
Weighted average interest rate	3.20%	3.20%	3.10%	3.10%
Senior Notes, Aggregate [Member] | Minimum [Member]
Debt
Interest rate (as a percent)	0.75%	0.75%
Senior Notes, Aggregate [Member] | Maximum [Member]
Debt
Interest rate (as a percent)	7.75%	7.75%
Canadian Senior Notes [Member]
Debt
Debt	$ 369	$ 500	$ 395	$ 500
Interest rate (as a percent)	2.60%	2.60%	2.60%	2.60%
Tax Exempt Bonds [Member]
Debt
Debt	$ 2,648		$ 2,619
Weighted average interest rate	2.70%	2.70%	1.40%	1.40%
Tax Exempt Bonds [Member] | Minimum [Member]
Debt
Interest rate (as a percent)	0.40%	0.40%
Tax Exempt Bonds [Member] | Maximum [Member]
Debt
Interest rate (as a percent)	4.40%	4.40%
Financing leases and other [Member]
Debt
Debt	$ 699		$ 567
Weighted average interest rate	4.70%	4.70%	4.50%	4.50%

Debt - Classification and Utili

Debt - Classification and Utilization (Detail) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	May 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Debt
Debt maturing or subject to remarketing within twelve months		$ 3,100
Current portion of long-term debt		414	$ 708
Carrying value of debt		14,984	13,405
Revolving Credit Facility [Member]
Debt
Maximum capacity	$ 3,500	3,500
Accordion option capacity	$ 1,000
Outstanding borrowings under credit facility		0
Letters of credit outstanding		166
Unused and available credit capacity		1,600
Revolving Credit Facility [Member] | Minimum [Member]
Debt
Spread rate	0.585%
Revolving Credit Facility [Member] | Maximum [Member]
Debt
Spread rate	1.025%
Revolving Credit Facility [Member] | SOFR [Member]
Debt
Spread rate	0.10%
Credit Facility Revolving Canadian [Member]
Debt
Maximum capacity	$ 375
Term Loan maturing May 2024 [Member]
Debt
Maximum capacity	$ 1,000
Debt term	2 years
Carrying value of debt		1,000
Term Loan maturing May 2024 [Member] | SOFR [Member] | Minimum [Member]
Debt
Spread rate	0.50%
Term Loan maturing May 2024 [Member] | SOFR [Member] | Maximum [Member]
Debt
Spread rate	0.90%
Commercial Paper Program [Member]
Debt
Debt maturing or subject to remarketing within twelve months		$ 1,700
Debt term		397 days
Carrying value of debt		$ 1,730	1,778
Commercial paper borrowings		1,700
Tax Exempt Bonds [Member]
Debt
Debt maturing or subject to remarketing within twelve months		65
Debt with interest rate periods that expire in the next 12 months		725
Debt classified as long-term due to intent and ability to refinance on long-term basis		2,700
Carrying value of debt		$ 2,648	2,619
Tax Exempt Bonds [Member] | Minimum [Member]
Debt
Interest rate (as a percent)		0.40%
Tax Exempt Bonds [Member] | Maximum [Member]
Debt
Interest rate (as a percent)		4.40%
2.40% senior notes due 2023 [Member]
Debt
Debt maturing or subject to remarketing within twelve months		$ 500
Interest rate (as a percent)		2.40%
Other Letter Of Credit Lines [Member]
Debt
Letters of credit outstanding		$ 800
Financing leases and other [Member]
Debt
Debt maturing or subject to remarketing within twelve months		192
Carrying value of debt		$ 699	$ 567

Debt - Borrowings and Repayment

Debt - Borrowings and Repayments (Detail) - USD ($) $ in Millions	1 Months Ended		12 Months Ended
	May 31, 2022	Feb. 28, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Nov. 30, 2020
Debt
New borrowings			$ 8,688	$ 7,948	$ 9,420
Debt repayments			7,328	8,404	9,629
Premiums paid on early extinguishment of debt				$ 211	$ 30
Scheduled Debt Payments
2023			2,423
2024			1,290
2025			1,324
2026			673
2027			1,163
Thereafter			8,275
Commercial Paper Program [Member]
Debt
Commercial paper repayments			6,700
Commercial paper borrowings			6,600
Term Loan maturing May 2024 [Member]
Debt
New borrowings	$ 1,000
4.15% senior notes due 2032 [Member]
Debt
Debt instrument face amount	$ 1,000
Interest rate (as a percent)	4.15%
New borrowings	$ 992
2.90% senior notes due 2022 [Member]
Debt
Interest rate (as a percent)	2.90%
Debt repayments	$ 500
Senior Notes, Aggregate [Member]
Debt
Debt instrument face amount						$ 2,500
Tax Exempt Bonds [Member]
Debt
New borrowings			100
Debt repayments			71
Financing leases and other [Member]
Debt
Debt repayments			93
Financing leases and other [Member] | Low income housing investments [Member]
Debt
Note issued		$ 183	$ 183

Debt - Covenants (Detail)

Debt - Covenants (Detail) - Revolving Credit Facility [Member] $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)	May 31, 2022 USD ($)
Debt
Maximum capacity	$ 3,500	$ 3,500
Threshold aggregate consideration on acquisition	$ 200
Increased leverage ratio on achievement of acquisition	4.25
Maximum [Member]
Debt
Debt to EBITDA ratio	3.75

Leases (Detail)

Leases (Detail)	12 Months Ended
	Dec. 31, 2022
Minimum [Member]
Leases
Renewal term	1 year
Maximum [Member]
Leases
Renewal term	10 years

Leases - Balance sheet (Detail)

Leases - Balance sheet (Detail) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Assets
Operating leases	$ 456	$ 451
Operating right of use asset extensible list	Other assets	Other assets
Financing lease	$ 328	$ 364
Financing Lease, right of use asset extensible list	Property and equipment, net	Property and equipment, net
Total leased assets	$ 784	$ 815
Liabilities
Operating, current	$ 64	$ 64
Operating Lease, Liability current extensible list	Accrued liabilities	Accrued liabilities
Financing, current	$ 44	$ 47
Financing Lease, Liability current extensible list	Current portion of long-term debt	Current portion of long-term debt
Operating, non current	$ 460	$ 459
Operating lease, liability noncurrent extensible list	Other liabilities	Other liabilities
Financing, non current	$ 258	$ 291
Financing lease, liability noncurrent extensible list	Long-term debt, less current portion	Long-term debt, less current portion
Total lease liabilities	$ 826	$ 861

Leases - Maturities (Detail)

Leases - Maturities (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases
Operating lease cost	$ 183	$ 155	$ 140
Finance lease cost	55	$ 58	$ 51
Operating
2023	78
2024	71
2025	59
2026	52
2027	40
Thereafter	414
Total undiscounted lease payments	714
Less: interest	(190)
Discounted lease liabilities	524
Operating leases not yet commenced	$ 52
Operating leases not yet commenced term	17 years
Financing
2023	$ 52
2024	46
2025	56
2026	36
2027	28
Thereafter	169
Total undiscounted lease payments	387
Less: interest	(85)
Discounted lease liabilities	302
Finance leases not yet commenced	$ 50

Leases - Cash flow (Detail)

Leases - Cash flow (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Operating cash flows from operating leases
Operating cash flows from operating leases	$ 76	$ 70
Financing cash flows from finance leases	56	64
Right-of-use assets obtained in exchange for operating lease obligations	69	69
Right-of-use assets obtained in exchange for financing leases obligations	$ 33	$ 36

Leases - Weighted average (Deta

Leases - Weighted average (Detail)	Dec. 31, 2022
Leases
Weighted-average remaining lease term for operating lease	19 years
Weighted-average remaining lease term for financing lease	11 years
Weighted-average discount rate for operating lease	3%
Weighted-average discount rate for financing lease	4%

Income Taxes - Provision for In

Income Taxes - Provision for Income Taxes (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current:
Federal	$ 456	$ 436	$ 114
State	130	132	91
Foreign	43	41	27
Current tax total	629	609	232
Deferred:
Federal	20	(55)	149
State	30	(22)	10
Foreign	(1)		6
Deferred tax total	49	(77)	165
Income tax expense	$ 678	$ 532	$ 397

Income Taxes - Reconciliation (

Income Taxes - Reconciliation (Detail)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Taxes
Income tax expense at U.S. federal statutory rate	21%	21%	21%
State and local income taxes, net of federal income tax benefit	4.16%	4.14%	4.46%
Federal tax credits	(2.81%)	(2.69%)	(3.78%)
Taxing authority audit settlements and other tax adjustments	0.54%	0.53%	(0.17%)
Tax impact of equity-based compensation transactions	(0.45%)	(0.60%)	(1.12%)
Tax impact of impairments	0.02%
Tax impact of impairments reversed		(0.29%)	(0.35%)
Tax rate differential on foreign income	0.27%	0.37%	0.33%
Other	0.51%	0.16%	0.57%
Effective income tax rate	23.24%	22.62%	20.94%

Income Taxes - Income Source (D

Income Taxes - Income Source (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Taxes
Domestic	$ 2,779	$ 2,211	$ 1,780
Foreign	139	138	113
Income before income taxes	$ 2,918	$ 2,349	$ 1,893

Income Taxes - Additional infor

Income Taxes - Additional information (Detail) - USD ($) $ in Millions		1 Months Ended	3 Months Ended		12 Months Ended
	Jan. 01, 2023	Feb. 28, 2022	Dec. 31, 2022	Mar. 31, 2020	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Taxes
Income tax expense at U.S. federal statutory rate					21%	21%	21%
Equity in net losses of unconsolidated entities					$ 67	$ 36	$ 68
Nondeductible acquisition transaction costs						27
Reduction in provision for income taxes due to tax audit settlements					6	13	10
Increase (decrease) to accruals and related deferred taxes					1	17	(3)
Reduction in provision for income taxes due to state net operating losses and credits					8	15	12
Excess tax benefits associated with equity-based compensation					17	18	27
Forecast [Member]
Income Taxes
Alternative fuel tax credits	$ 55
Investments Qualifying for Federal Tax Credits [Member]
Income Taxes
Equity in net losses of unconsolidated entities					65	51	73
Income tax (expense) benefit, including tax credits, from equity method investment					99	74	87
Refined Coal Facility [Member]
Income Taxes
Equity method investments impairment charges				$ 7			7
Low income housing investments [Member]
Income Taxes
Interest expense					$ 14	$ 9	$ 11
Consideration for investment		$ 253
Investment cash payment		28
Interest payable		42
Increase (decrease) investments in unconsolidated entities		$ 211
2017 Audit [Member]
Income Taxes
Income tax deposit paid			$ 103

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets (Liabilities) (Detail) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets:
Net operating loss, capital loss and tax credit carry-forwards	$ 155	$ 189
Landfill and environmental remediation liabilities	216	238
Operating lease liabilities	131	135
Miscellaneous and other reserves, net	117	113
Subtotal	619	675
Valuation allowance	(143)	(158)
Deferred tax liabilities:
Property and equipment	(1,061)	(1,064)
Goodwill and other intangibles	(1,034)	(1,027)
Operating lease right-of-use assets	(114)	(120)
Net deferred tax liabilities	$ (1,733)	$ (1,694)

Income Taxes - Carryforward (De

Income Taxes - Carryforward (Detail) $ in Millions	Dec. 31, 2022 USD ($)
Federal [Member]
Income Taxes
Net operating loss carry-forwards	$ 6
Tax credit carry-forward	27
State [Member]
Income Taxes
Net operating loss carry-forwards	2,500
Tax credit carry-forward	8
Foreign [Member]
Income Taxes
Tax credit carry-forward	$ 39

Income Taxes - Unrecognized Tax

Income Taxes - Unrecognized Tax Benefits (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Taxes
Balance beginning	$ 64	$ 37	$ 40
Additions based on tax positions related to the current year	5	22	5
Additions based on tax positions of prior years		18
Accrued interest	1	3	2
Settlements		(12)
Lapse of statute of limitations	(6)	(4)	(10)
Balance ending	64	$ 64	$ 37
Net unrecognized tax benefits that would impact effective tax rate	$ 53

Employee Benefit Plans - (Detai

Employee Benefit Plans - (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
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%
Employee maximum contribution towards defined contribution plans as percentage of annual incentive plan bonus	80%
Percentage of contribution upon eligibility for non union employees hired after threshold period	3%
Employer's match in cash of non-union employee contributions on first specified percentage of eligible compensation	100%
First percentage of eligible compensation on which specified percentage of non-union employee contribution is matched by the employer in cash	3%
Employer's match in cash of non-union employee contributions on next specified percentage of eligible compensation	50%
Next percentage of eligible compensation on which specified percentage of non-union employee contribution is matched by the employer in cash	3%
Employer maximum match of non-union employee contribution on eligible compensation	4.50%
Defined contribution plans expense	$ 112	$ 104	$ 92
Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Combined accumulated benefit obligation of pension plans	117	150
Plan assets of pension plans	113	150
Unfunded benefit obligation	4
Other Postretirement Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Unfunded benefit obligation	$ 8	$ 12

Employee Benefit Plans - Multie

Employee Benefit Plans - Multiemployer (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Multiemployer Plans [Line Items]
Company contributions to significant plan	$ 44	$ 42	$ 39
Company contributions to insignificant plans	17	19	15
Company contributions total	61	61	54
Automotive Industries Pension Plan [Member]
Multiemployer Plans [Line Items]
Company contributions to significant plan	1	1	1
Midwest Operating Engineers Pension Trust Fund [Member]
Multiemployer Plans [Line Items]
Company contributions to significant plan	2	2	2
Suburban Teamsters of Northern Illinois Pension Plan [Member]
Multiemployer Plans [Line Items]
Company contributions to significant plan	4	4	3
Western Conference of Teamsters Pension Plan [Member]
Multiemployer Plans [Line Items]
Company contributions to significant plan	$ 37	$ 35	$ 33

Employee Benefit Plans - Mult_2

Employee Benefit Plans - Multiemployer Info (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Multiemployer Plans [Line Items]
High end of funded percentage of multiemployer plans in critical status	65%
High end of funded percentage of multiemployer plans in endangered status	80%
Surcharge percentage during first twelve months on contribution rates for plans certified as endangered, seriously endangered or critical	5%
Period for which surcharge is 5% on contribution rates for plans certified as endangered, seriously endangered or critical	12 months
Surcharge percentage after first twelve months on contribution rates for plans certified as endangered, seriously endangered or critical	10%
Multiemployer company contributions	$ 61	$ 61	$ 54
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%	5%
Multiemployer Health and Welfare Plan [Member]
Multiemployer Plans [Line Items]
Multiemployer company contributions	$ 49	$ 51	$ 48

Commitments and Contingencies_2

Commitments and Contingencies (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	May 31, 2022
Insurance
Insurance claims receivable	$ 142	$ 155
Insurance reserves
Insurance reserves, beginning balance	734	664
Self-insurance expense	242	240
Cash paid and other	(247)	(170)
Insurance reserves, ending balance	729	734
Insurance reserve, current portion	189	191
Insurance reserve, long-term portion	$ 540	$ 543
Expected timing for cash settlement	6 years
Revolving Credit Facility [Member]
Insurance
Credit Facility, aggregate capacity	$ 3,500		$ 3,500

Commitments and Contingencies -

Commitments and Contingencies - Obligations (Detail) $ in Millions	Dec. 31, 2022 USD ($)
Commitments and Contingencies.
2023	$ 192
2024	158
2025	114
2026	101
2027	34
Thereafter	$ 369

Commitments and Contingencies_3

Commitments and Contingencies - Other (Details) $ in Millions	3 Months Ended		12 Months Ended
	Dec. 31, 2022 USD ($) site item	Mar. 31, 2022 USD ($)	Dec. 31, 2022 USD ($) site item	Dec. 31, 2021 USD ($)
Commitments And Contingencies [Line Items]
Number of landfills adjacent to or near homeowners' properties with agreements guaranteeing market value | item	17		17
Environmental remediation reasonably possible additional losses high estimate	$ 135		$ 135
Environmental remediation liabilities	$ 204		$ 204
Number of sites listed on the EPA's NPL for which we have been notified we are a PRP | site	73		73
Number of owned sites listed on the EPA's NPL for which we have been notified we are a PRP | site	14		14
Number of non-owned sites listed on the EPA's NPL for which we have been notified we are a PRP | site	59		59
Dollar threshold for environmental matters requiring disclosure under item 103 of the SEC's Regulation S-K	$ 1		$ 1
Workforce covered by collective bargaining (as a percent)			20%
San Jacinto Waste Pits [Member]
Commitments And Contingencies [Line Items]
Environmental remediation liabilities	68		$ 68	$ 53
Revisions in estimate		$ 17	$ 17
2017 Audit [Member]
Commitments And Contingencies [Line Items]
Income tax deposit paid	$ 103

Asset Impairments and Unusual_3

Asset Impairments and Unusual Items - Components (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Asset Impairments and Unusual Items
Gain from divestitures, net	$ (5)	$ (44)	$ (33)
Asset impairments	50	8	68
Other	17	20
(Gain) loss from divestitures, asset impairments and unusual items	$ 62	$ (16)	$ 35

Asset Impairments and Unusual_4

Asset Impairments and Unusual Items (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2020	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Asset Impairments and Unusual Items
(Gain) loss from divestitures, asset impairments and unusual items, net			$ 62	$ (16)	$ 35
Asset impairments			50	8	68
Gain (loss) on sale of assets			5	44	33
Increase in legal accruals				20
Other ancillary operations [Member]
Asset Impairments and Unusual Items
Asset impairments					7
Disposed of by Sale, Not Discontinued Operations [Member]
Asset Impairments and Unusual Items
Gain (loss) on sale of assets			5	44	33
Disposed of by Sale, Not Discontinued Operations [Member] | Canadian operations [Member]
Asset Impairments and Unusual Items
Gain (loss) on sale of assets				35
Disposed of by Sale, Not Discontinued Operations [Member] | Other ancillary operations [Member]
Asset Impairments and Unusual Items
Gain (loss) on sale of assets				$ 8
Refined Coal Facility [Member]
Asset Impairments and Unusual Items
Equity method investments impairment charges		$ 7			7
Landfills and Oil Field Waste Injection Facility [Member]
Asset Impairments and Unusual Items
Asset impairments					41
Landfill [Member]
Asset Impairments and Unusual Items
Asset impairments					$ 20
San Jacinto Waste Pits [Member]
Asset Impairments and Unusual Items
Revisions in estimates and interest rate assumptions	$ 17		$ 17

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Changes (Detail) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
AOCI roll forward
Beginning balance		$ 7,126	$ 7,454	$ 7,070
Other comprehensive income (loss), net of tax		(86)	(22)	47
Ending balance		6,864	7,126	7,454
Accumulated Other Comprehensive Income (Loss) [Member]
AOCI roll forward
Beginning balance		17	39	(8)
Other comprehensive income (loss) before reclassifications, net of tax (expense) benefit		(88)	6	41
Amounts reclassified from accumulated other comprehensive (income) loss, net of tax (expense) benefit		2	(28)	6
Other comprehensive income (loss), net of tax		(86)	(22)	47
Ending balance		(69)	17	39
Derivative Instruments [Member]
AOCI roll forward
Beginning balance			(9)	(24)
Other comprehensive income (loss) before reclassifications, net of tax (expense) benefit				7
Amounts reclassified from accumulated other comprehensive (income) loss, net of tax (expense) benefit		3	9	8
Other comprehensive income (loss), net of tax		3	9	15
Ending balance		3		(9)
Available-for-Sale Debt Securities [Member]
AOCI roll forward
Beginning balance		43	49	38
Other comprehensive income (loss) before reclassifications, net of tax (expense) benefit		(24)	(6)	12
Amounts reclassified from accumulated other comprehensive (income) loss, net of tax (expense) benefit				(1)
Other comprehensive income (loss), net of tax		(24)	(6)	11
Ending balance		19	43	49
Foreign Currency Translation Adjustments [Member]
AOCI roll forward
Beginning balance		(29)	(1)	(21)
Other comprehensive income (loss) before reclassifications, net of tax (expense) benefit		(65)	7	20
Amounts reclassified from accumulated other comprehensive (income) loss, net of tax (expense) benefit	$ 35		(35)
Other comprehensive income (loss), net of tax		(65)	(28)	20
Ending balance		(94)	(29)	(1)
Post - Retirement Benefit Obligation [Member]
AOCI roll forward
Beginning balance		3		(1)
Other comprehensive income (loss) before reclassifications, net of tax (expense) benefit		1	5	2
Amounts reclassified from accumulated other comprehensive (income) loss, net of tax (expense) benefit		(1)	(2)	(1)
Other comprehensive income (loss), net of tax			3	$ 1
Ending balance		$ 3	$ 3

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Loss) - Tax Impact (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Derivative Instruments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss) before reclassifications, tax	$ 0	$ 0	$ 2
Amounts reclassified from accumulated other comprehensive (income) loss, tax	1	3	2
Available-for-Sale Debt Securities [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss) before reclassifications, tax	(8)	(2)	4
Amounts reclassified from accumulated other comprehensive (income) loss, tax	0	0	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	0	2	1
Amounts reclassified from accumulated other comprehensive (income) loss, tax	$ 0	$ 0	$ (1)

Capital Stock, Dividends and _3

Capital Stock, Dividends and Common Stock Repurchase Program - Stock (Detail) $ / shares in Units, $ in Millions	1 Months Ended	12 Months Ended
	Dec. 31, 2022 $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2020 USD ($) $ / shares shares
Capital Stock, Dividends and Common Stock Repurchase Program
Common stock, shares authorized | shares	1,500,000,000	1,500,000,000	1,500,000,000
Common stock, par value	$ 0.01	$ 0.01	$ 0.01
Common shares outstanding (in shares) | shares	407,900,000	407,900,000	416,100,000	422,800,000
Preferred stock shares authorized | shares	10,000,000	10,000,000
Preferred stock par value per share	$ 0.01	$ 0.01
Preferred stock shares outstanding | shares	0	0
Cash dividends | $		$ 1,077	$ 970	$ 927
Cash dividends declared and paid per common share		$ 2.60	$ 2.30	$ 2.18
Quarterly common stock dividend per share	0.65
Expected quarterly common stock dividend per share	$ 0.70

Capital Stock, Dividends and _4

Capital Stock, Dividends and Common Stock Repurchase Program - Repurchases (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	1 Months Ended		11 Months Ended	12 Months Ended
	Jan. 31, 2022	Dec. 31, 2021	Nov. 30, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Common stock repurchase program
Shares repurchased (in shares)				9,796	8,731	3,687
Weighted average price per share (in dollars per share)				$ 160.26	$ 146.61	$ 108.92
Total repurchases (in dollars)				$ 1,570	$ 1,280	$ 402
Cash paid for repurchase of common stock				1,500	$ 1,350	$ 402
Authorized share repurchases				$ 1,500
Accelerated Share Repurchase Agreement (ASR) [Member]
Common stock repurchase program
Shares repurchased (in shares)	400	1,700	7,000	8,800		2,800
Cash paid for repurchase of common stock	$ 70	$ 350	$ 1,000	$ 1,417		$ 313
Initial stock repurchase price (in dollars per share)		$ 160.67
Weighted average final purchase price (in dollars per share)	$ 160.33
10b5-1 Plan [Member]
Common stock repurchase program
Shares repurchased (in shares)				600		900
Cash paid for repurchase of common stock				$ 83		$ 89

Equity-Based Compensation (Deta

Equity-Based Compensation (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) item shares	Dec. 31, 2021 USD ($) shares	Dec. 31, 2020 USD ($) shares	Feb. 01, 2023 shares	May 31, 2014 shares
Share-based Compensation
Compensation expense recognized | $	$ 71	$ 94	$ 79
2014 Stock Incentive Plan [Member]
Share-based Compensation
Shares available under employee stock plans	16,100,000
Maximum number of shares authorized for issuance					23,800,000
2009 Stock Incentive Plan [Member]
Share-based Compensation
Shares available under employee stock plans					1,100,000
Employee Stock Purchase Plan [Member]
Share-based Compensation
Service period	30 days
Number of offering periods | item	2
Price employees purchase shares (as a percent)	85%
Annual salary deducted for plan (as a percent)	10%
Shares issued under the plan	455,000	513,000	570,000
Shares available under employee stock plans				2,300,000
Compensation expense recognized | $	$ 13	$ 12	$ 13
Compensation expense recognized, net of tax | $	$ 10	$ 9	$ 10

Equity-Based Compensation - RSU

Equity-Based Compensation - RSUs (Detail) - Restricted Stock Units [Member] - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation
Unvested, Units, beginning of year	343,000
Granted, Units	162,000
Vested, Units	(107,000)
Forfeited, Units	(33,000)
Unvested, Units, end of year	365,000	343,000
Unvested, Weighted Average Per Share Fair Value, beginning of year	$ 114.28
Granted, Weighted Average Per Share Fair Value	147.74
Vested, Weighted Average Per Share Fair Value	100.11
Forfeited, Weighted Average Per Share Fair Value	136.43
Unvested, Weighted Average Per Share Fair Value, end of year	$ 131.26	$ 114.28
Total fair market value of vested awards	$ 15	$ 12	$ 14
Shares issued under the plan	77,000
Vested deferred units outstanding	30,000
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, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Performance Share Units [Member]
Share-based Compensation
Vesting period		3 years	3 years
Potential payout (as a percent)		100%
Shares issued under the plan	420,000
Unvested, Units, beginning of year		968,000
Granted, Units		290,000
Vested, Units	(637,000)	(346,000)
Forfeited, Units		(48,000)
Unvested, Units, end of year		864,000	968,000
Unvested, Weighted Average Per Share Fair Value, beginning of year		$ 129.60
Granted, Weighted Average Per Share Fair Value		168.49
Vested, Weighted Average Per Share Fair Value		116.26
Forfeited, Weighted Average Per Share Fair Value		147.79
Unvested, Weighted Average Per Share Fair Value, end of year		$ 147	$ 129.60
Total fair market value of vested awards		$ 91	$ 74	$ 89
Total Shareholder Return Award [Member]
Share-based Compensation
Actual payout (as a percent)			167.78%
Cash Flow Award [Member]
Share-based Compensation
Actual payout (as a percent)			200%
Deferred Units [Member]
Share-based Compensation
Share-based awards outstanding (in shares)		179,000
Minimum [Member] | Performance Share Units [Member]
Share-based Compensation
Potential payout (as a percent)		0%
Maximum [Member] | Performance Share Units [Member]
Share-based Compensation
Potential payout (as a percent)		200%

Equity-Based Compensation - Sto

Equity-Based Compensation - Stock Options (Detail) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation
Exercisable shares, end of year	1,762,000
Exercisable, Weighted Average Per Share Exercise Price	$ 83.34
Exercise of common stock options	$ 44	$ 66	$ 63
Stock Options [Member]
Share-based Compensation
Term of awards	10 years
Outstanding shares, beginning of year	3,206,000
Granted, shares	477,000
Exercised, shares	(675,000)	(962,000)	(1,039,000)
Forfeited or expired, shares	(85,000)
Outstanding shares, end of year	2,923,000	3,206,000
Exercisable shares, end of year	1,762,000
Outstanding, Weighted Average Per Share Fair Value, beginning of year	$ 92.53
Granted, Weighted Average Per Share Fair Value	145.67
Exercised, Weighted Average Per Share Fair Value	88.54
Forfeited or expired, Weighted Average Per Share Fair Value	124.31
Outstanding, Weighted Average Per Share Fair Value, end of year	101.22	$ 92.53
Exercisable, Weighted Average Per Share Exercise Price	$ 83.34
Weighted average remaining contractual term of stock options outstanding	6 years 2 months 12 days
Aggregate intrinsic value of stock options outstanding based on the market value of company's common stock	$ 163
Aggregate intrinsic value of stock options exercisable based on the market value of company's common stock	130
Exercise of common stock options	44	$ 66	$ 63
Aggregate intrinsic value of stock options exercised	$ 51	$ 66	$ 58
Stock Options [Member] | 10b5-1 Plan [Member]
Share-based Compensation
Exercised, shares	(141,000)
Equity compensation tax payments (in shares)	112,000
Stock Options [Member] | First Anniversary [Member]
Share-based Compensation
Vesting (as a percent)	25%
Stock Options [Member] | Second Anniversary [Member]
Share-based Compensation
Vesting (as a percent)	25%
Stock Options [Member] | Third Anniversary [Member]
Share-based Compensation
Vesting (as a percent)	50%

Equity-Based Compensation - Exe

Equity-Based Compensation - Exercise price (Detail) shares in Thousands	12 Months Ended
	Dec. 31, 2022 $ / shares shares
Share-based Compensation
Exercise price, low end of range	$ 36.88
Exercise price, high end of range	$ 145.67
Exercisable, options | shares	1,762
Exercisable, Weighted Average Per Share Exercise Price	$ 83.34
Exercisable, Weighted Average Remaining Years	5 years
$36.88-$50.00 [Member]
Share-based Compensation
Exercise price, low end of range	$ 36.88
Exercise price, high end of range	$ 50
Exercisable, options | shares	166
Exercisable, Weighted Average Per Share Exercise Price	$ 40.31
Exercisable, Weighted Average Remaining Years	1 year
$50.01-$70.00 [Member]
Share-based Compensation
Exercise price, low end of range	$ 50.01
Exercise price, high end of range	$ 70
Exercisable, options | shares	355
Exercisable, Weighted Average Per Share Exercise Price	$ 55.53
Exercisable, Weighted Average Remaining Years	2 years 8 months 12 days
$70.01-$100.00 [Member]
Share-based Compensation
Exercise price, low end of range	$ 70.01
Exercise price, high end of range	$ 100
Exercisable, options | shares	888
Exercisable, Weighted Average Per Share Exercise Price	$ 87.95
Exercisable, Weighted Average Remaining Years	5 years 3 months 18 days
$100.01-$145.67 [Member]
Share-based Compensation
Exercise price, low end of range	$ 100.01
Exercise price, high end of range	$ 145.67
Exercisable, options | shares	353
Exercisable, Weighted Average Per Share Exercise Price	$ 119.87
Exercisable, Weighted Average Remaining Years	7 years 7 months 6 days

Equity-Based Compensation - Ass

Equity-Based Compensation - Assumptions (Detail) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) item $ / shares	Dec. 31, 2021 USD ($) $ / shares	Dec. 31, 2020 USD ($) $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense recognized	$ 71	$ 94	$ 79
Deferred income tax benefits included in income tax expense	17	18	27
Currently unrecognized compensation expense	$ 45
Weighted average period unrecognized compensation expenses expected to be recognized	1 year 6 months
Employee Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred income tax benefits included in income tax expense	$ 14	$ 18	$ 15
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	$ 26.44	$ 17.25	$ 15.82
Expected option life	4 years 8 months 12 days	4 years 8 months 12 days	4 years 7 months 6 days
Expected volatility	23.40%	23.20%	16.60%
Expected dividend yield	1.80%	2.10%	1.70%
Risk-free interest rate	1.60%	0.60%	1.40%

Earnings Per Share (Detail)

Earnings Per Share (Detail) - shares shares in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Earnings Per Share
Number of common shares outstanding at end of period	407.9	416.1	422.8
Effect of using weighted average common shares outstanding	4.9	4.3	0.2
Weighted average basic common shares outstanding	412.8	420.4	423
Dilutive effect of equity-based compensation awards and other contingently issuable shares	2.2	2.5	2.1
Weighted average diluted common shares outstanding	415	422.9	425.1
Potentially issuable shares	5.2	5.7	6.1
Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding	1.1	0.6	1.6

Fair Value Measurements - Recur

Fair Value Measurements - Recurring (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Available-for-sale Securities [Member]
Fair Value
Investment maturity	9 years
Fair Value, Measurements, Recurring [Member]
Fair Value
Total assets	$ 693	$ 507
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets (Level 1) [Member]
Fair Value
Cash equivalents and money market funds	240	38
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets (Level 1) [Member] | Equity securities [Member]
Fair Value
Investments	37	25
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Available-for-sale Securities [Member]
Fair Value
Investments	360	395
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Redeemable Preferred Stock [Member]
Fair Value
Investments	$ 56	$ 49

Fair Value Measurements - Debt

Fair Value Measurements - Debt (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Fair Value
Carrying value of debt	$ 14,984	$ 13,405
Net borrowings (repayments)	1,400
Term Loan maturing May 2024 [Member]
Fair Value
Carrying value of debt	1,000
Reported Value Measurement [Member]
Fair Value
Fair value of debt	15,000	13,400
Significant Other Observable Inputs (Level 2) [Member] | Estimate of Fair Value Measurement [Member]
Fair Value
Fair value of debt	$ 13,800	$ 14,100

Acquisitions and Divestitures_2

Acquisitions and Divestitures (Detail) $ / shares in Units, customer in Millions, $ in Millions		12 Months Ended
	Oct. 30, 2020 USD ($) customer $ / shares	Dec. 31, 2022 USD ($) item	Dec. 31, 2021 USD ($) item	Dec. 31, 2020 USD ($) item	Nov. 30, 2020 USD ($)
Business Acquisition
Non-cash acquisition consideration		$ 135
Contingent consideration paid for acquisitions closed in previous year		5		$ 3
Operating revenues		19,698	$ 17,931	15,218
Operating		12,294	11,111	9,341
Selling, general and administrative		$ 1,938	$ 1,864	$ 1,728
364-day revolving credit facility [Member]
Business Acquisition
Maximum capacity					$ 3,000
Senior Notes, Aggregate [Member]
Business Acquisition
Debt instrument face amount					$ 2,500
2022 Business Acquisitions [Member]
Business Acquisition
Number of business acquired | item		13
Total consideration, net of cash acquired		$ 507
Business acquisitions cash payments		372
Non-cash acquisition consideration		135
Promissory notes receivable converted into equity		67
2021 Business Acquisitions [Member]
Business Acquisition
Number of business acquired | item			11
Total consideration, net of cash acquired			$ 94
Business acquisitions cash payments			73
Other consideration			21
Payments made for contingent consideration			3
2020 Business Acquisitions [Member]
Business Acquisition
Number of business acquired | item				4
Cash acquired from acquisitions				$ 36
Total consideration, net of cash acquired				4,100
Advanced Disposal [Member]
Business Acquisition
Price per share | $ / shares	$ 30.30
Total consideration, net of cash acquired	$ 4,600
Debt incurred for acquisition	$ 1,800
Number of customers | customer	3
Business acquisition costs incurred		$ 10	$ 51	156
Operating revenues				205
Operating				142
Selling, general and administrative				$ 60

Acquisitions and Divestitures -

Acquisitions and Divestitures - Purchase Allocation (Detail) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Oct. 31, 2021	Oct. 30, 2021	Dec. 31, 2020	Oct. 30, 2020
Purchase price allocation
Goodwill	$ 9,323	$ 9,028			$ 8,994
Carrying value of debt	14,984	$ 13,405
2022 Business Acquisitions [Member]
Purchase price allocation
Property and equipment	138
Goodwill	325
Noncontrolling interests	14
Other intangible assets	64
2022 Business Acquisitions [Member] | Customer Relationships [Member]
Purchase price allocation
Other intangible assets	45
2022 Business Acquisitions [Member] | Non-compete Covenant [Member]
Purchase price allocation
Other intangible assets	$ 19
Advanced Disposal [Member]
Purchase price allocation
Accounts and other receivables				$ 160
Parts and supplies				7
Other current assets				16
Assets held for sale				1,022
Property and equipment				1,266
Goodwill				2,496
Other intangible assets				601
Investments in unconsolidated entities				9
Other assets				25
Accounts payable				(106)
Accrued liabilities				(158)
Deferred revenues				(19)
Current portion of long-term debt				(12)
Liabilities held for sale				(234)
Long-term debt, less current portion				(441)
Landfill and environmental remediation liabilities				(255)
Deferred income taxes				(214)
Other liabilities				(81)
Total purchase price				4,082
Advanced Disposal [Member] | Customer Relationships [Member]
Purchase price allocation
Other intangible assets				$ 572
Advanced Disposal [Member] | Advanced Disposal 5.625% senior notes due 2024 [Member]
Purchase price allocation
Carrying value of debt						$ 425
Fair value of debt						$ 438
Interest rate (as a percent)						5.625%
Advanced Disposal [Member] | Previously Reported [Member]
Purchase price allocation
Accounts and other receivables						$ 159
Parts and supplies						8
Other current assets						17
Assets held for sale						1,022
Property and equipment						1,278
Goodwill						2,470
Other intangible assets						604
Investments in unconsolidated entities						9
Other assets						27
Accounts payable						(107)
Accrued liabilities						(155)
Deferred revenues						(19)
Current portion of long-term debt						(12)
Liabilities held for sale						(234)
Long-term debt, less current portion						(441)
Landfill and environmental remediation liabilities						(242)
Deferred income taxes						(223)
Other liabilities						(79)
Total purchase price						$ 4,082
Advanced Disposal [Member] | Adjustment [Member]
Purchase price allocation
Accounts and other receivables			$ 1
Parts and supplies			(1)
Other current assets			(1)
Property and equipment			(12)
Goodwill			26
Other intangible assets			(3)
Other assets			(2)
Accounts payable			1
Accrued liabilities			(3)
Landfill and environmental remediation liabilities			(13)
Deferred income taxes			9
Other liabilities			$ (2)

Acquisitions and Divestitures_3

Acquisitions and Divestitures - Intangible Allocation (Detail) - USD ($) $ in Millions	Oct. 30, 2020	Dec. 31, 2022	Oct. 30, 2021
2022 Business Acquisitions [Member]
Intangible assets
Other intangible assets		$ 64
2022 Business Acquisitions [Member] | Customer Relationships [Member]
Intangible assets
Other intangible assets		45
2022 Business Acquisitions [Member] | Non-compete Covenant [Member]
Intangible assets
Other intangible assets		$ 19
Advanced Disposal [Member]
Intangible assets
Other intangible assets			$ 601
Advanced Disposal [Member] | Customer Relationships [Member]
Intangible assets
Other intangible assets			572
Weighted average amortization periods	15 years
Advanced Disposal [Member] | Other Intangible Assets [Member]
Intangible assets
Other intangible assets			$ 29
Weighted average amortization periods	7 years

Acquisitions and Divestitures_4

Acquisitions and Divestitures - Divestitures (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Oct. 30, 2020
Divestitures
Gain (loss) on sale of assets	$ 5	$ 44	$ 33
Disposed of by Sale, Not Discontinued Operations [Member]
Divestitures
Aggregate sales prices for divestitures of hauling and ancillary operations	6	48	856
Gain (loss) on sale of assets	$ 5	$ 44	33
Advanced Disposal [Member] | Disposed of by Sale, Not Discontinued Operations [Member]
Divestitures
Divestiture consideration				$ 856
Gain (loss) on sale of assets			$ 33

Acquisitions and Divestitures_5

Acquisitions and Divestitures - Pro Forma (Detail) - Advanced Disposal [Member] $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020 USD ($) $ / shares shares
Business Acquisition
Operating revenues | $	$ 16,192
Net income attributable to Waste Management, Inc. | $	$ 1,685
Basic earnings per common share | $ / shares	$ 3.99
Diluted earnings per common share | $ / shares	$ 3.96
Basic (in shares) | shares	423
Diluted (in shares) | shares	425

Variable Interest Entities (Det

Variable Interest Entities (Detail) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Variable Interest Entity
Aggregate investment balance	$ 460	$ 335
Carrying value of debt	14,984	13,405
Assets	31,367	29,097	$ 29,345
Variable Interest Entity, Primary Beneficiary [Member]
Variable Interest Entity
Assets	113	117
Low income housing investments [Member] | Variable Interest Entity, Not Primary Beneficiary [Member]
Variable Interest Entity
Aggregate investment balance	321	178
Carrying value of debt	295	156
Trust For Final Capping, Closure, Post-closure Or Environmental Remediation Obligations [Member] | Variable Interest Entity, Not Primary Beneficiary [Member]
Variable Interest Entity
Aggregate investment balance	$ 93	$ 110

Segment and Related Informati_3

Segment and Related Information - Summary (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) segment	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Segment Reporting Information [Line Items]
Number of segments | segment	2
Operating revenues	$ 19,698	$ 17,931	$ 15,218
Income from operations	3,365	2,965	2,434
Depreciation, depletion and amortization	2,038	1,999	1,671
Capital expenditures	2,809	2,039	1,585
Assets	31,367	29,097	29,345
Operating Group Total [Member]
Segment Reporting Information [Line Items]
Operating revenues	19,698	17,931	15,218
Solid Waste [Member]
Segment Reporting Information [Line Items]
Operating revenues	16,373	15,001	12,954
East Tier [Member]
Segment Reporting Information [Line Items]
Operating revenues	8,306	7,540	6,370
West Tier [Member]
Segment Reporting Information [Line Items]
Operating revenues	8,067	7,461	6,584
Other [Member]
Segment Reporting Information [Line Items]
Operating revenues	3,325	2,930	2,264
Operating Segments [Member]
Segment Reporting Information [Line Items]
Operating revenues	24,018	21,693	18,478
Assets	31,677	29,392	29,649
Operating Segments [Member] | Operating Group Total [Member]
Segment Reporting Information [Line Items]
Operating revenues	24,018	21,693	18,478
Income from operations	4,621	4,174	3,430
Depreciation, depletion and amortization	1,942	1,923	1,626
Capital expenditures	2,504	1,468	1,077
Assets	28,629	27,020	27,839
Operating Segments [Member] | Solid Waste [Member]
Segment Reporting Information [Line Items]
Operating revenues	20,473	18,647	16,114
Income from operations	4,595	4,140	3,472
Depreciation, depletion and amortization	1,876	1,853	1,539
Capital expenditures	2,176	1,287	1,002
Assets	26,657	25,745	25,775
Operating Segments [Member] | East Tier [Member]
Segment Reporting Information [Line Items]
Operating revenues	10,283	9,278	7,873
Income from operations	2,249	2,037	1,672
Depreciation, depletion and amortization	998	970	801
Capital expenditures	1,129	708	537
Assets	14,741	14,269	14,274
Operating Segments [Member] | West Tier [Member]
Segment Reporting Information [Line Items]
Operating revenues	10,190	9,369	8,241
Income from operations	2,346	2,103	1,800
Depreciation, depletion and amortization	878	883	738
Capital expenditures	1,047	579	465
Assets	11,916	11,476	11,501
Operating Segments [Member] | Other [Member]
Segment Reporting Information [Line Items]
Operating revenues	3,545	3,046	2,364
Income from operations	26	34	(42)
Depreciation, depletion and amortization	66	70	87
Capital expenditures	328	181	75
Assets	1,972	1,275	2,064
Intercompany Operating Revenues [Member]
Segment Reporting Information [Line Items]
Operating revenues	(4,320)	(3,762)	(3,260)
Intercompany Operating Revenues [Member] | Operating Group Total [Member]
Segment Reporting Information [Line Items]
Operating revenues	(4,320)	(3,762)	(3,260)
Intercompany Operating Revenues [Member] | Solid Waste [Member]
Segment Reporting Information [Line Items]
Operating revenues	(4,100)	(3,646)	(3,160)
Intercompany Operating Revenues [Member] | East Tier [Member]
Segment Reporting Information [Line Items]
Operating revenues	(1,977)	(1,738)	(1,503)
Intercompany Operating Revenues [Member] | West Tier [Member]
Segment Reporting Information [Line Items]
Operating revenues	(2,123)	(1,908)	(1,657)
Intercompany Operating Revenues [Member] | Other [Member]
Segment Reporting Information [Line Items]
Operating revenues	(220)	(116)	(100)
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Income from operations	(1,256)	(1,209)	(996)
Depreciation, depletion and amortization	96	76	45
Capital expenditures	305	571	508
Assets	3,048	2,372	1,810
Elimination of Intercompany Investments and Advances [Member]
Segment Reporting Information [Line Items]
Assets	$ (310)	$ (295)	$ (304)

Segment and Related Informati_4

Segment and Related Information - Goodwill (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Goodwill, Beginning Balance	$ 9,028	$ 8,994
Acquired goodwill	325	76
Divested goodwill		(47)
Foreign currency translation and other	(30)	5
Goodwill, Ending Balance	9,323	9,028
Goodwill post-closing adjustment increase (decrease)		(26)
East Tier [Member]
Segment Reporting Information [Line Items]
Goodwill, Beginning Balance	5,120	5,101
Acquired goodwill	92	27
Divested goodwill		(11)
Foreign currency translation and other	(30)	3
Goodwill, Ending Balance	5,182	5,120
West Tier [Member]
Segment Reporting Information [Line Items]
Goodwill, Beginning Balance	3,833	3,823
Acquired goodwill	24	15
Divested goodwill		(7)
Foreign currency translation and other		2
Goodwill, Ending Balance	3,857	3,833
Other [Member]
Segment Reporting Information [Line Items]
Goodwill, Beginning Balance	75	70
Acquired goodwill	209	34
Divested goodwill		(29)
Foreign currency translation and other
Goodwill, Ending Balance	$ 284	$ 75

Segment and Related Informati_5

Segment and Related Information - Revenues mix (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenue from External Customer [Line Items]
Operating revenues	$ 19,698	$ 17,931	$ 15,218
Operating Segments [Member]
Revenue from External Customer [Line Items]
Operating revenues	24,018	21,693	18,478
Operating Segments [Member] | Collection [Member]
Revenue from External Customer [Line Items]
Operating revenues	13,169	11,675	10,053
Operating Segments [Member] | Commercial [Member]
Revenue from External Customer [Line Items]
Operating revenues	5,450	4,760	4,102
Operating Segments [Member] | Industrial [Member]
Revenue from External Customer [Line Items]
Operating revenues	3,681	3,210	2,770
Operating Segments [Member] | Residential [Member]
Revenue from External Customer [Line Items]
Operating revenues	3,339	3,172	2,716
Operating Segments [Member] | Other Collection [Member]
Revenue from External Customer [Line Items]
Operating revenues	699	533	465
Operating Segments [Member] | Landfill [Member]
Revenue from External Customer [Line Items]
Operating revenues	4,600	4,153	3,667
Operating Segments [Member] | Transfer [Member]
Revenue from External Customer [Line Items]
Operating revenues	2,143	2,072	1,855
Operating Segments [Member] | Recycling [Member]
Revenue from External Customer [Line Items]
Operating revenues	1,701	1,681	1,127
Operating Segments [Member] | Other Revenue [Member]
Revenue from External Customer [Line Items]
Operating revenues	2,405	2,112	1,776
Intercompany Operating Revenues [Member]
Revenue from External Customer [Line Items]
Operating revenues	$ (4,320)	$ (3,762)	$ (3,260)

Segment and Related Informati_6

Segment and Related Information - Geographical (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating revenues	$ 19,698	$ 17,931	$ 15,218
Property and equipment, net	15,719	14,419	14,148
US
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating revenues	18,860	17,136	14,505
Property and equipment, net	14,725	13,428	13,168
Canada [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Operating revenues	838	795	713
Property and equipment, net	$ 994	$ 991	$ 980