Waste Management Inc. Files 2023 Annual Report (10-K)

TL;DR

<b>Waste Management Inc. has filed its 2023 10-K report detailing financial performance and operational highlights for the fiscal year ending December 31, 2023.</b>

AI Summary

WASTE MANAGEMENT INC (WM) filed a Annual Report (10-K) with the SEC on February 13, 2024. Waste Management Inc. filed its 10-K report for the fiscal year ending December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. Key financial metrics and operational details for the fiscal year 2023 are presented. The report includes information on performance shares, landfill operations, and credit facilities. The company's principal executive offices are located at 800 Capitol Street, Suite 3000, Houston, TX.

Why It Matters

For investors and stakeholders tracking WASTE MANAGEMENT INC, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Waste Management's financial health, operational strategies, and risk factors for the fiscal year 2023, crucial for investors assessing the company's performance and future outlook. The detailed financial data and operational segments within the report allow stakeholders to understand the company's revenue streams, profitability, and debt levels, aiding in investment decisions.

Risk Assessment

Risk Level: medium — WASTE MANAGEMENT INC shows moderate risk based on this filing. The company operates in the highly regulated waste management industry, facing potential risks from environmental regulations, operational hazards, and market fluctuations in commodity prices, as detailed in its 10-K filings.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to assess Waste Management's performance and potential challenges in the upcoming fiscal year.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period end date)
• 2024-02-13 — Filing Date (Date the 10-K was filed)
• 19920703 — Date of Name Change (Date Waste Management Inc. changed its name from USA WASTE SERVICES INC)

Key Players & Entities

• WASTE MANAGEMENT INC (company) — Filer name
• 800 CAPITOL STREET, STE 3000 (location) — Business address street
• HOUSTON (location) — Business address city
• TX (location) — Business address state
• 77002 (location) — Business address zip
• USA WASTE SERVICES INC (company) — Former company name

FAQ

Industry Context

Waste Management Inc. operates in the refuse systems industry, providing comprehensive waste management services.

Regulatory Implications

The company is subject to various federal, state, and local environmental regulations governing waste disposal and recycling.

What Investors Should Do

1. Analyze the detailed financial statements for revenue, net income, and cash flow.
2. Review the risk factors section for potential operational and regulatory challenges.
3. Compare key performance indicators with previous fiscal years to identify trends.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-02-13: Filing Date — Date Waste Management Inc. submitted its 10-K filing.

Year-Over-Year Comparison

This filing represents the annual report for the fiscal year 2023, providing updated financial and operational data compared to previous filings.

Key Financial Figures

• $0.01 — ge on Which Registered Common Stock , $0.01 par value WM New York Stock Exchang
• $0.70 — to increase the quarterly dividend from $0.70 to $0.75 per share for dividends declar
• $0.75 — se the quarterly dividend from $0.70 to $0.75 per share for dividends declared in 202

Filing Documents

• wm-20231231x10k.htm (10-K) — 4191KB
• wm-20231231xex4d7.htm (EX-4.7) — 97KB
• wm-20231231xex10d8.htm (EX-10.8) — 8KB
• wm-20231231xex10d14.htm (EX-10.14) — 34KB
• wm-20231231xex10d15.htm (EX-10.15) — 16KB
• wm-20231231xex21d1.htm (EX-21.1) — 384KB
• wm-20231231xex22d1.htm (EX-22.1) — 38KB
• wm-20231231xex23d1.htm (EX-23.1) — 9KB
• wm-20231231xex31d1.htm (EX-31.1) — 14KB
• wm-20231231xex31d2.htm (EX-31.2) — 15KB
• wm-20231231xex32d1.htm (EX-32.1) — 9KB
• wm-20231231xex32d2.htm (EX-32.2) — 8KB
• wm-20231231xex95.htm (EX-95) — 4KB
• wm-20231231xex97.htm (EX-97) — 47KB
• wm-20231231x10k001.jpg (GRAPHIC) — 62KB
• 0001558370-24-001049.txt (&nbsp;) — 18224KB
• wm-20231231.xsd (EX-101.SCH) — 92KB
• wm-20231231_cal.xml (EX-101.CAL) — 110KB
• wm-20231231_def.xml (EX-101.DEF) — 407KB
• wm-20231231_lab.xml (EX-101.LAB) — 890KB
• wm-20231231_pre.xml (EX-101.PRE) — 709KB
• wm-20231231x10k_htm.xml (XML) — 3638KB

Business

Business 3 Item 1A.

Risk Factors

Risk Factors 20 Item 1B. Unresolved Staff Comments 35 Item 1C. Cybersecurity 35 Item 2.

Properties

Properties 36 Item 3.

Legal Proceedings

Legal Proceedings 36 Item 4. Mine Safety Disclosures 36 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 36 Item 6. [Reserved] 38 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 38 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 68 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 70 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 129 Item 9A.

Controls and Procedures

Controls and Procedures 129 Item 9B. Other Information 130 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 131 PART III Item 10. Directors, Executive Officers and Corporate Governance 131 Item 11.

Executive Compensation

Executive Compensation 131 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 131 Item 13. Certain Relationships and Related Transactions, and Director Independence 131 Item 14. Principal Accounting Fees and Services 131 PART IV Item 15. Exhibits 131 Item 16. Form 10-K Summary 134 2 Table of Contents PART I Cautionary Statement About Forward-Looking Statements This Annual Report on Form 10-K contains certain forward-looking statements that are made subject to the safe harbor protections provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are often identified by the words, "will," "may," "should," "continue," "anticipate," "believe," "expect," "target," "plan," "forecast," "project," "estimate," "intend," "commit," "potential" and words of a similar nature and generally include statements regarding future results of operations, including revenues, earnings or cash flows; plans and objectives for the future; projections, estimates or assumptions relating to our operational or financial performance, including anticipated impacts of the Inflation Reduction Act of 2022; projections, estimates or assumptions relating to our capital expenditures; or our opinions, views or beliefs about the effects of current or future events, circumstances or performance. You should view these statements with caution. These statements are not guarantees of future performance, circumstances or events. They are based on facts and circumstances known to us as of the date the statements are made, and you should not place undue reliance on any such forward-looking statements. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from our historical experience and our present expectations or anticipated results. These risks and uncertainties include, but are not limited to, those described in Part I, "Item 1A. Risk Factors " and elsewh

Business

Item 1. Business. General 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. WMI was incorporated in Oklahoma in 1987 under the name "USA Waste Services, Inc." and was reincorporated as a Delaware company in 1995. In a 1998 merger, the Illinois-based waste services company formerly known as Waste Management, Inc. became a wholly-owned subsidiary of WMI and changed its name to Waste Management Holdings, Inc. ("WM Holdings"). At the same time, our parent holding company changed its name from USA Waste Services to Waste Management, Inc. Like WMI, WM Holdings is a holding company and all operations are conducted by subsidiaries. Our principal executive offices are located at 800 Capitol Street, Suite 3000, Houston, Texas 77002. Our telephone number is (713) 512-6200. Our website address is www.wm.com. Our annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K are all available, free of charge, on our website as soon as practicable after we file the reports with the SEC. Our stock is traded on the New York Stock Exchange under the symbol "WM." 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 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, recycling and resource r

View Full Filing

View this 10-K filing on SEC EDGAR