01—Abstract
Summary
Summary of the 10-K/A filed February 22, 2011. Cited figures are marked; the original filing is the authoritative source.
This 10-K filing for Waste Management Inc. (WM) for the fiscal year ended December 30, 2010, primarily serves as an index of exhibits and financial statements.
While the detailed financial performance figures are not presented within this specific excerpt, it confirms the filing of audited Consolidated Financial Statements, including Balance Sheets, Statements of Operations, Cash Flows, and Changes in Equity, along with accompanying Notes and Schedule II for Valuation and Qualifying Accounts. This indicates that the company's comprehensive financial health and operational results for 2010 have been reviewed and are available through the referenced statements. The filing also lists numerous exhibits pertaining to corporate governance, debt instruments, and executive compensation, underscoring the structured nature of public company reporting and its material agreements.
Investors should note that this document is a procedural filing and does not contain the narrative analysis or quantitative results typically found in the Management's Discussion and Analysis (MD&A) section. For a full understanding of WM's financial performance, profitability, and outlook, reference should be made to the full 10-K report which contains the complete financial statements and related disclosures.
02—Key points
Key Highlights
- The filing confirms the availability of audited Consolidated Financial Statements for the fiscal year ended December 30, 2010, providing a basis for assessing the company's financial performance.
- Key financial statements referenced include the Balance Sheet, Statements of Operations, Cash Flows, and Changes in Equity, offering a comprehensive view of WM's financial position and performance.
- Schedule II, relating to Valuation and Qualifying Accounts, is included, offering insight into potential asset impairments or adjustments.
- A wide array of exhibits are listed, covering corporate governance documents (Certificate of Incorporation, Bylaws), significant debt agreements (Indentures for Senior and Subordinated Debt, Credit Agreements), and various executive compensation plans and agreements.
- The filing includes the Computation of Ratio of Earnings to Fixed Charges, which is a key metric for assessing debt servicing capabilities.
- Incorporation by reference is extensively used for exhibits, indicating that many foundational corporate documents and agreements have been previously filed with the SEC.
- The report lists subsidiaries of the registrant, providing transparency into the corporate structure.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-K/AFY2010filed February 22, 2011Financial Statements
FY2010 against FY2009
| Line item | FY2010FY2009 | Change |
|---|---|---|
| Revenue | $12.52B$11.79B | +6.1% |
| SG&A Expenses | $1.46B$1.36B | +7.1% |
| Operating Expenses | $10.40B$9.90B | +5.0% |
| Operating Income | $2.12B$1.89B | +12.1% |
| Interest Expense | $490.00M$443.00M | +10.6% |
| Net Income | $953.00M$994.00M | −4.1% |
| EPS (Basic) | $1.98$2.02 | −2.0% |
| EPS (Diluted) | $1.98$2.01 | −1.5% |
| Shares Outstanding (Basic) | 480.20M491.20M | −2.2% |
| Shares Outstanding (Diluted) | 482.20M493.60M | −2.3% |
05—Questions
Frequently Asked Questions
Where can I find Waste Management's detailed financial results for 2010?
This filing (10-K/A) is primarily an index of exhibits and financial statements. The detailed financial results, including the Statement of Operations and Management's Discussion and Analysis (MD&A), are contained within the full 10-K report that was filed with the SEC. You should refer to the complete document for comprehensive financial performance data and management's commentary.
What types of debt does Waste Management have, based on this filing?
This filing lists several debt-related exhibits, including Indentures for Subordinated Debt Securities, Indentures for Senior Debt Securities, and various Credit Agreements. These indicate the company utilizes both long-term debt instruments and revolving credit facilities to finance its operations.
Does this filing provide information on executive compensation?
Yes, the filing lists numerous exhibits related to executive compensation, including various stock incentive plans, annual incentive plans, employee stock purchase plans, and specific employment agreements for named executives. These documents are incorporated by reference from previous filings.
What is Schedule II, and why is it listed?
Schedule II typically details Valuation and Qualifying Accounts. For Waste Management, this schedule would show accounts such as allowances for doubtful accounts or accumulated depreciation, providing investors with more granular detail on how these balance sheet items are managed and adjusted over time.
06—Continue