| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||||||||
Consolidated net income | ||||||||||||
1,671 | 1,923 | 1,949 | 1,180 | 752 | 1,338 | 130 | 860 | 1,009 | 1,002 | 1,060 | 1,128 | 1,209 |
Adjustments to reconcile consolidated net income to net cash provided by operating activities: | ||||||||||||
Depreciation and amortization | ||||||||||||
1,574 | 1,477 | 1,376 | 1,301 | 1,245 | 1,292 | 1,333 | 1,297 | 1,229 | 1,194 | 1,166 | 1,238 | 1,259 |
Deferred income tax expense (benefit) | ||||||||||||
100 | 25 | -251 | 73 | 30 | -118 | -149 | 67 | 198 | 154 | -94 | 150 | 70 |
Interest accretion on landfill liabilities | ||||||||||||
98 | 95 | 92 | 91 | 89 | 88 | 87 | 84 | 84 | 82 | 80 | 77 | 74 |
Interest accretion on and discount rate adjustments to environmental remediation liabilities and recovery assets | ||||||||||||
- | - | - | - | 1 | 14 | -10 | 6 | 23 | 8 | -30 | 41 | 17 |
Provision for bad debts | ||||||||||||
39 | 54 | 43 | 42 | 36 | 42 | 39 | 57 | 44 | 41 | 48 | 50 | 43 |
Equity-based compensation expense | ||||||||||||
86 | 89 | 101 | 90 | 72 | 65 | 58 | 29 | 45 | 36 | 30 | 48 | 37 |
Excess tax benefits associated with equity-based transactions | ||||||||||||
- | - | - | - | - | 5 | 10 | 11 | 8 | 9 | 4 | 7 | -26 |
Net gain on disposal of assets | ||||||||||||
27 | 47 | 20 | 24 | 18 | 35 | 21 | 21 | 24 | 22 | 13 | 33 | -27 |
Loss from divestitures, asset impairments and other, net | ||||||||||||
113 | -58 | 43 | 114 | 87 | -127 | 535 | 95 | 9 | -1 | 83 | -29 | -47 |
Effect of goodwill impairments | ||||||||||||
- | - | - | - | - | - | 509 | 4 | 1 | - | - | - | - |
Equity in net losses of unconsolidated entities, net of dividends | ||||||||||||
-55 | -41 | -39 | -44 | -42 | -42 | -34 | -46 | -31 | -20 | -2 | -1 | 39 |
Loss on early extinguishment of debt | ||||||||||||
-85 | - | -6 | - | -555 | - | - | - | - | - | - | - | - |
Change in operating assets and liabilities, net of effects of acquisitions and divestitures: | ||||||||||||
Receivables | ||||||||||||
53 | 16 | 271 | 78 | 178 | 268 | -44 | 131 | 110 | 159 | -29 | -216 | -22 |
Other current assets | ||||||||||||
23 | 16 | -50 | 12 | -16 | 19 | 7 | 50 | 23 | -47 | 4 | 9 | 6 |
Other assets | ||||||||||||
-10 | 14 | 66 | -75 | 7 | -22 | -4 | -105 | -28 | 3 | -20 | -5 | 5 |
Accounts payable and accrued liabilities | ||||||||||||
243 | 203 | 126 | 192 | -97 | 117 | -27 | -57 | 65 | -57 | 51 | -183 | -88 |
Deferred revenues and other liabilities | ||||||||||||
-97 | -186 | -37 | -85 | -97 | -117 | - | -85 | -132 | -58 | -62 | -118 | -110 |
Net cash provided by operating activities | ||||||||||||
3,874 | 3,570 | 3,180 | 3,003 | 2,528 | 2,331 | 2,455 | 2,295 | 2,469 | 2,275 | 2,362 | 2,575 | 2,439 |
Cash flows from investing activities: | ||||||||||||
Acquisitions of businesses, net of cash acquired | ||||||||||||
521 | 460 | 198 | 608 | 554 | 35 | 724 | 250 | 867 | 407 | 281 | 280 | 90 |
Capital expenditures | ||||||||||||
1,818 | 1,694 | 1,509 | 1,339 | 1,233 | 1,151 | 1,271 | 1,510 | 1,324 | 1,104 | 1,179 | 1,221 | 1,211 |
Proceeds from divestitures of businesses and other assets (net of cash divested) | ||||||||||||
49 | 208 | 99 | 43 | 145 | 2,253 | 138 | 44 | 36 | 44 | 28 | 112 | 278 |
Purchases of short-term investments | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | 1,220 |
Proceeds from sales of short-term investments | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | 1,404 |
Net receipts from restricted trust and escrow accounts | ||||||||||||
- | - | - | - | -51 | -19 | -71 | -14 | -107 | -48 | -196 | -178 | -120 |
Investments in unconsolidated entities | ||||||||||||
- | - | - | - | - | 33 | 33 | 77 | 155 | 173 | 21 | 9 | - |
Other, net | ||||||||||||
86 | 223 | 12 | 25 | 17 | 58 | 81 | 51 | -18 | 14 | -7 | -37 | 42 |
Excess tax benefits associated with equity-based transactions | ||||||||||||
- | - | - | - | - | 5 | 10 | 11 | 8 | 9 | 4 | 7 | 26 |
Acquisitions of and distributions paid to noncontrolling interests | ||||||||||||
- | - | - | - | - | -125 | -59 | -46 | -59 | -45 | -50 | -56 | -20 |
Net cash used in investing activities | ||||||||||||
-2,376 | -2,169 | -1,620 | -1,929 | -1,608 | 995 | -1,900 | -1,830 | -2,185 | -1,606 | -1,250 | -1,183 | -761 |
Cash flows from financing activities: | ||||||||||||
New borrowings | ||||||||||||
4,683 | 359 | 1,479 | 3,057 | 2,337 | 2,817 | 2,232 | 1,620 | 1,201 | 908 | 1,749 | 1,525 | 944 |
Debt repayments | ||||||||||||
533 | 499 | 1,907 | 2,682 | 2,764 | 3,568 | 2,077 | 1,498 | 503 | 1,112 | 1,335 | 1,785 | 1,200 |
Premiums paid on early extinguishment of debt | ||||||||||||
84 | - | 8 | - | 555 | - | - | - | - | - | - | - | - |
Net commercial paper borrowings | ||||||||||||
-1,001 | 453 | 513 | - | - | - | - | - | - | - | - | - | - |
Common stock repurchase program | ||||||||||||
248 | 1,004 | 750 | 725 | 600 | 600 | 239 | - | 575 | 501 | 226 | 410 | 1,421 |
Cash dividends | ||||||||||||
876 | 802 | 750 | 726 | 695 | 693 | 683 | 658 | 637 | 604 | 569 | 531 | 495 |
Exercise of common stock options | ||||||||||||
67 | 52 | 95 | 63 | 77 | 93 | 132 | 43 | 45 | 54 | 20 | 37 | 142 |
Tax payments associated with equity-based compensation transactions | ||||||||||||
33 | 29 | 47 | 30 | 15 | - | - | - | - | - | - | - | - |
Other, net | ||||||||||||
-11 | -38 | 14 | -41 | 30 | -1 | -3 | -2 | -46 | 18 | -50 | -43 | 78 |
Net cash provided by (used in) financing activities | ||||||||||||
1,964 | -1,508 | -1,361 | -1,084 | -2,185 | -2,072 | -687 | -530 | -566 | -1,273 | -457 | -1,256 | -1,946 |
Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents | ||||||||||||
2 | -3 | - | - | -3 | -5 | -4 | 1 | 1 | 3 | 5 | -4 | 2 |
Increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents | ||||||||||||
3,464 | -110 | 199 | -10 | -1,268 | 1,249 | -136 | -64 | -281 | -601 | 660 | 132 | -266 |