SEC Filing | Waste Management

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-Q

(Mark One)



☑	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

	For the Quarterly Period Ended June 30, 2020

or

☐	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

	For the transition period from to

Commission file number 1-12154

Waste Management, Inc.

(Exact name of registrant as specified in its charter)


Delaware	73-1309529
(State or other jurisdiction of	(I.R.S. Employer
incorporation or organization)	Identification No.)

1001 Fannin Street

Houston, Texas 77002

(Address of principal executive offices)

(713) 512-6200

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:



Title of each class	Trading Symbol	Name of each exchange on which registered
Common Stock, $0.01 par value	WM	New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☑ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☑ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.


Large accelerated filer	☑	Accelerated filer ☐
Non-accelerated filer	☐	Smaller reporting company ☐
		Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☑

The number of shares of Common Stock, $0.01 par value, of the registrant outstanding at July 27, 2020 was 422,461,187 (excluding treasury shares of 207,821,274).

PART I.

Item 1. Financial Statements.

WASTE MANAGEMENT, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In Millions, Except Share and Par Value Amounts)


	June 30,		December 31,
	2020		2019
	(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents	$	2,663	$	3,561
Accounts receivable, net of allowance for doubtful accounts of $46 and $28, respectively		1,888		1,949
Other receivables, net of allowance for doubtful accounts of $2 and $1, respectively		219		370
Parts and supplies		118		106
Other assets		218		223
Total current assets		5,106		6,209
Property and equipment, net of accumulated depreciation and amortization of $19,031 and $18,657, respectively		12,917		12,893
Goodwill		6,512		6,532
Other intangible assets, net		472		521
Restricted trust and escrow accounts		382		313
Investments in unconsolidated entities		439		483
Other assets		791		792
Total assets	$	26,619	$	27,743
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$	904	$	1,065
Accrued liabilities		1,184		1,327
Deferred revenues		494		534
Current portion of long-term debt		3,190		218
Total current liabilities		5,772		3,144
Long-term debt, less current portion		9,598		13,280
Deferred income taxes		1,367		1,407
Landfill and environmental remediation liabilities		2,030		1,930
Other liabilities		959		912
Total liabilities		19,726		20,673
Commitments and contingencies
Equity:
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		5,040		5,049
Retained earnings		10,795		10,592
Accumulated other comprehensive income (loss)		(41)		(8)
Treasury stock at cost, 208,118,292 and 205,956,366 shares, respectively		(8,909)		(8,571)
Total Waste Management, Inc. stockholders’ equity		6,891		7,068
Noncontrolling interests		2		2
Total equity		6,893		7,070
Total liabilities and equity	$	26,619	$	27,743

See Notes to Condensed Consolidated Financial Statements.

WASTE MANAGEMENT, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In Millions, Except per Share Amounts)

(Unaudited)


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2020		2019		2020		2019
Operating revenues	$	3,561	$	3,946	$	7,290	$	7,642
Costs and expenses:
Operating		2,180		2,443		4,509		4,741
Selling, general and administrative		377		391		802		800
Depreciation and amortization		414		409		816		775
Restructuring		2		—		2		2
(Gain) loss from divestitures, asset impairments and unusual items, net		61		7		61		7
		3,034		3,250		6,190		6,325
Income from operations		527		696		1,100		1,317
Other income (expense):
Interest expense, net		(119)		(100)		(231)		(196)
Loss on early extinguishment of debt		—		(84)		—		(84)
Equity in net losses of unconsolidated entities		(14)		(16)		(40)		(25)
Other, net		1		1		1		(53)
		(132)		(199)		(270)		(358)
Income before income taxes		395		497		830		959
Income tax expense		88		115		162		230
Consolidated net income		307		382		668		729
Less: Net income (loss) attributable to noncontrolling interests		—		1		—		1
Net income attributable to Waste Management, Inc.	$	307	$	381	$	668	$	728
Basic earnings per common share	$	0.73	$	0.90	$	1.58	$	1.71
Diluted earnings per common share	$	0.72	$	0.89	$	1.57	$	1.70

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(In Millions)

(Unaudited)


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2020		2019		2020		2019
Consolidated net income	$	307	$	382	$	668	$	729
Other comprehensive income (loss), net of tax:
Derivative instruments, net		3		2		5		4
Available-for-sale securities, net		14		4		5		9
Foreign currency translation adjustments		34		25		(42)		53
Post-retirement benefit obligation, net		(1)		—		(1)		(1)
Other comprehensive income (loss), net of tax		50		31		(33)		65
Comprehensive income		357		413		635		794
Less: Comprehensive loss attributable to noncontrolling interests		—		1		—		1
Comprehensive income attributable to Waste Management, Inc.	$	357	$	412	$	635	$	793

See Notes to Condensed Consolidated Financial Statements.

WASTE MANAGEMENT, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In Millions)

(Unaudited)


	Six Months Ended
	June 30,
	2020		2019
Cash flows from operating activities:
Consolidated net income	$	668	$	729
Adjustments to reconcile consolidated net income to net cash provided by operating activities:
Depreciation and amortization		816		775
Deferred income tax benefit		(35)		(12)
Interest accretion on landfill liabilities		49		47
Provision for bad debts		36		19
Equity-based compensation expense		23		43
Net gain on disposal of assets		(7)		(5)
(Gain) loss from divestitures, asset impairments and other, net		68		78
Equity in net losses of unconsolidated entities, net of dividends		33		25
Loss on early extinguishment of debt		—		84
Change in operating assets and liabilities, net of effects of acquisitions and divestitures:
Receivables		185		19
Other current assets		(1)		(5)
Other assets		14		4
Accounts payable and accrued liabilities		(171)		127
Deferred revenues and other liabilities		(57)		(28)
Net cash provided by operating activities		1,621		1,900
Cash flows from investing activities:
Acquisitions of businesses, net of cash acquired		(1)		(440)
Capital expenditures		(895)		(1,049)
Proceeds from divestitures of businesses and other assets (net of cash divested)		15		20
Other, net		(37)		(96)
Net cash used in investing activities		(918)		(1,565)
Cash flows from financing activities:
New borrowings		—		3,971
Debt repayments		(705)		(385)
Premiums paid on early extinguishment of debt		—		(84)
Net commercial paper borrowings (repayments)		—		(1,001)
Common stock repurchase program		(402)		(248)
Cash dividends		(466)		(440)
Exercise of common stock options		42		45
Tax payments associated with equity-based compensation transactions		(34)		(30)
Other, net		(10)		(6)
Net cash (used in) provided by financing activities		(1,575)		1,822
Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents		(3)		2
Increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents		(875)		2,159
Cash, cash equivalents and restricted cash and cash equivalents at beginning of period		3,647		183
Cash, cash equivalents and restricted cash and cash equivalents at end of period	$	2,772	$	2,342

Reconciliation of cash, cash equivalents and restricted cash and cash equivalents at end of period:
Cash and cash equivalents	$	2,663	$	2,250
Restricted cash and cash equivalents included in other current assets		41		18
Restricted cash and cash equivalents included in restricted trust and escrow accounts		68		74
Cash, cash equivalents and restricted cash and cash equivalents at end of period	$	2,772	$	2,342

See Notes to Condensed Consolidated Financial Statements.

WASTE MANAGEMENT, INC.

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

(In Millions, Except Shares in Thousands)

(Unaudited)


			Waste Management, Inc. Stockholders’ Equity
										Accumulated
						Additional				Other
			Common Stock			Paid-In		Retained		Comprehensive		Treasury Stock			Noncontrolling
	Total		Shares	Amounts		Capital		Earnings		Income (Loss)		Shares	Amounts		Interests
Three Months Ended June 30:
2020
Balance, March 31, 2020	$	6,745	630,282	$	6	$	5,026	$	10,718	$	(91)	(208,287)	$	(8,916)	$	2
Consolidated net income		307	—		—		—		307		—	—		—		—
Other comprehensive income (loss), net of tax		50	—		—		—		—		50	—		—		—
Cash dividends declared of $0.545 per common share		(230)	—		—		—		(230)		—	—		—		—
Equity-based compensation transactions, net		21	—		—		14		—		—	169		7		—
Common stock repurchase program		—	—		—		—		—		—	—		—		—
Other, net		—	—		—		—		—		—	—		—		—
Balance, June 30, 2020	$	6,893	630,282	$	6	$	5,040	$	10,795	$	(41)	(208,118)	$	(8,909)	$	2

2019
Balance, March 31, 2019	$	6,417	630,282	$	6	$	4,978	$	9,924	$	(53)	(205,556)	$	(8,440)	$	2
Consolidated net income		382	—		—		—		381		—	—		—		1
Other comprehensive income (loss), net of tax		31	—		—		—		—		31	—		—		—
Cash dividends declared of $0.5125 per common share		(217)	—		—		—		(217)		—	—		—		—
Equity-based compensation transactions, net		36	—		—		20		—		—	387		16		—
Common stock repurchase program		(180)	—		—		(36)		—		—	(1,314)		(144)		—
Other, net		(2)	—		—		—		—		—	1		—		(2)
Balance, June 30, 2019	$	6,467	630,282	$	6	$	4,962	$	10,088	$	(22)	(206,482)	$	(8,568)	$	1

See Notes to Condensed Consolidated Financial Statements.

WASTE MANAGEMENT, INC.

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY ─ (Continued)

(In Millions, Except Shares in Thousands)

(Unaudited)


			Waste Management, Inc. Stockholders’ Equity
										Accumulated
						Additional				Other
			Common Stock			Paid-In		Retained		Comprehensive		Treasury Stock			Noncontrolling
	Total		Shares	Amounts		Capital		Earnings		Income (Loss)		Shares	Amounts		Interests
Six Months Ended June 30:
2020
Balance, December 31, 2019	$	7,070	630,282	$	6	$	5,049	$	10,592	$	(8)	(205,956)	$	(8,571)	$	2
Adoption of new accounting standard		(2)	—		—		—		(2)		—	—		—		—
Consolidated net income		668	—		—		—		668		—	—		—		—
Other comprehensive income (loss), net of tax		(33)	—		—		—		—		(33)	—		—		—
Cash dividends declared of $1.09 per common share		(466)	—		—		—		(466)		—	—		—		—
Equity-based compensation transactions, net		58	—		—		(9)		3		—	1,523		64		—
Common stock repurchase program		(402)	—		—		—		—		—	(3,687)		(402)		—
Other, net		—	—		—		—		—		—	2		—		—
Balance, June 30, 2020	$	6,893	630,282	$	6	$	5,040	$	10,795	$	(41)	(208,118)	$	(8,909)	$	2

2019
Balance, December 31, 2018	$	6,276	630,282	$	6	$	4,993	$	9,797	$	(87)	(206,299)	$	(8,434)	$	1
Consolidated net income		729	—		—		—		728		—	—		—		1
Other comprehensive income (loss), net of tax		65	—		—		—		—		65	—		—		—
Cash dividends declared of $1.025 per common share		(440)	—		—		—		(440)		—	—		—		—
Equity-based compensation transactions, net		82	—		—		5		3		—	1,808		74		—
Common stock repurchase program		(244)	—		—		(36)		—		—	(1,993)		(208)		—
Other, net		(1)	—		—		—		—		—	2		—		(1)
Balance, June 30, 2019	$	6,467	630,282	$	6	$	4,962	$	10,088	$	(22)	(206,482)	$	(8,568)	$	1

See Notes to Condensed Consolidated Financial Statements.

WASTE MANAGEMENT, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

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 13. Waste Management, Inc. is a holding company and all operations are conducted by its subsidiaries. When the terms “the Company,” “we,” “us” or “our” are used in this document, those terms refer to Waste Management, Inc., its consolidated subsidiaries and consolidated variable interest entities. When we use the term “WM,” we are referring only to Waste Management, Inc., the parent holding company.

We are North America’s leading provider of comprehensive waste management environmental services. We partner with our residential, commercial, industrial and municipal customers and the communities we serve to manage and reduce waste at each stage from collection to disposal, while recovering valuable resources and creating clean, renewable energy. Our “Solid Waste” business is operated and managed locally by our subsidiaries that focus on distinct geographic areas and provide collection, transfer, disposal, and recycling and resource recovery services. Through our subsidiaries, we are also a leading developer, operator and owner of landfill gas-to-energy facilities in the United States (“U.S.”).

We evaluate, oversee and manage the financial performance of our Solid Waste business subsidiaries through our 17 Areas. We also provide additional services that are not managed through our Solid Waste business, which are presented in this report as “Other.” Additional information related to our segments is included in Note 7.

The Condensed Consolidated Financial Statements as of June 30, 2020 and for the three and six months ended June 30, 2020 and 2019 are unaudited. In the opinion of management, these financial statements include all adjustments, which, unless otherwise disclosed, are of a normal recurring nature, necessary for a fair presentation of the financial position, results of operations, comprehensive income, cash flows, and changes in equity for the periods presented. The results for interim periods are not necessarily indicative of results for the entire year. The financial statements presented herein should be read in conjunction with the financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2019.

In preparing our financial statements, we make numerous estimates and assumptions that affect the accounting for and recognition and disclosure of assets, liabilities, equity, revenues and expenses. We must make these estimates and assumptions because certain information that we use is dependent on future events, cannot be calculated with precision from available data or simply cannot be calculated. In some cases, these estimates are difficult to determine, and we must exercise significant judgment. In preparing our financial statements, the most difficult, subjective and complex estimates and the assumptions that present the greatest amount of uncertainty relate to our accounting for landfills, environmental remediation liabilities, long-lived asset impairments and reserves associated with our insured and self-insured claims. Actual results could differ materially from the estimates and assumptions that we use in the preparation of our financial statements.

Revenue Recognition

We generally recognize revenue as services are performed or products are delivered. For example, revenue typically is recognized as waste is collected, tons are received at our landfills or transfer stations, or recycling commodities are collected or delivered as product. We bill for certain services prior to performance. Such services include, among others, certain commercial and residential contracts and equipment rentals. These advance billings are included in deferred revenues and recognized as revenue in the period service is provided. Substantially all our deferred revenues during the reported periods are realized as revenues within one to three months when the related services are performed.

WASTE MANAGEMENT, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS — (Continued)

Contract Acquisition Costs

Our incremental direct costs of obtaining a contract, which consist primarily of sales incentives, are generally deferred and amortized to selling, general and administrative expense over the estimated life of the relevant customer relationship, ranging from 5 to 13 years. Contract acquisition costs that are paid to the customer are deferred and amortized as a reduction in revenue over the contract life. Our contract acquisition costs are classified as current or noncurrent based on the timing of when we expect to recognize amortization and are included in other assets in our Condensed Consolidated Balance Sheet.

As of June 30, 2020 and December 31, 2019, we had $159 million and $153 million, respectively, of deferred contract costs, of which $117 million at each date was related to deferred sales incentives. During the three and six months ended June 30, 2020, we amortized $6 million and $11 million of sales incentives to selling, general and administrative expense, and $3 million and $5 million of other contract acquisition costs as a reduction in revenue, respectively. During the three and six months ended June 30, 2019, we amortized $6 million and $11 million of sales incentives to selling, general and administrative expense, and $5 million and $11 million of other contract acquisition costs as a reduction in revenue, respectively.

Leases

Amounts for our operating lease right-of-use assets are recorded in long-term other assets in our Condensed Consolidated Balance Sheets. The current and long-term portion of our operating lease liabilities are reflected in accrued liabilities and other long-term liabilities, respectively, in our Condensed Consolidated Balance Sheets. Amounts for our financing leases are recorded in property and equipment, net of accumulated depreciation, and current or long-term debt in our Condensed Consolidated Balance Sheets, as appropriate.

Concentrations of Credit Risk

Financial instruments that potentially subject us to concentrations of credit risk consist primarily of cash and cash equivalents, investments held within our restricted trust and escrow accounts, and accounts receivable. We make efforts to control our exposure to credit risk associated with these instruments by (i) placing our assets and other financial interests with a diverse group of credit-worthy financial institutions; (ii) holding high-quality financial instruments while limiting investments in any one instrument and (iii) maintaining strict policies over credit extension that include credit evaluations, credit limits and monitoring procedures, although generally we do not have collateral requirements for credit extensions. We also control our exposure associated with trade receivables by discontinuing service, to the extent allowable, to non-paying customers. However, our overall credit risk associated with trade receivables is limited due to the large number and diversity of customers we serve.

Adoption of New Accounting Standards

Financial Instruments-Credit Losses — In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13 associated with the measurement of credit losses on financial instruments. On January 1, 2020, we adopted this ASU using the modified retrospective transition method. The amended guidance replaced the previous incurred loss impairment methodology of recognizing credit losses when a loss is probable, with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to assess credit loss estimates. This expected loss model generally results in earlier recognition of an allowance for losses. We recognized a net $2 million after tax decrease to retained earnings as of January 1, 2020 for the cumulative impact of adopting the amended guidance.

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

WASTE MANAGEMENT, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS — (Continued)

doubtful accounts, represents the estimated net realizable value. 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.

For trade receivables the Company relies upon, among other factors, historical loss trends, the age of outstanding receivables, and existing as well as expected economic conditions. Due to the adoption of ASU 2016-13, we recognized a $1 million pre-tax decrease to our allowance for doubtful accounts on trade receivables. 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.

In January 2020, a novel strain of coronavirus (“COVID-19”) was declared a Public Health Emergency of International Concern and subsequently declared a global pandemic in March 2020. Throughout the COVID-19 pandemic, the Company has proactively taken steps to put our employees’ and customers’ needs first and we continue to work with the appropriate regulatory agencies to ensure we can provide our essential waste services safely and efficiently. With this in mind, we have extended payment terms and postponed discontinuing service for customers who have been negatively impacted by the COVID-19 pandemic which has contributed to an increase in the aging of outstanding balances.

As of June 30, 2020, we had $1,888 million of trade receivables, net of allowance of $46 million. The allowance for doubtful accounts has increased by $18 million during 2020, largely due to the COVID-19 pandemic. Based on an aging analysis as of June 30, 2020, approximately 85% of our trade receivables were outstanding less than 60 days.

The following table reflects the activity in our allowance for doubtful accounts of trade receivables for the six months ended June 30 (in millions):


	2020		2019
Balance as of January 1,	$	28	$	29
Adoption of new accounting standard		(1)		—
Additions charged to expense		36		19
Accounts written-off, net of recoveries		(16)		(23)
Acquisitions, divestitures and other, net		(1)		3
Balance as of June 30,	$	46	$	28

For other receivables as well as loans and other instruments, the Company relies primarily on credit ratings and associated default rates based on the maturity of the instrument. All receivables, as well as other instruments, are adjusted for our expectation of future market conditions and trends. Due to the adoption of ASU 2016-13, we recognized a $4 million pre-tax increase to our allowance for doubtful accounts on notes and other receivables. As of June 30, 2020, we had $386 million of notes and other receivables, net of allowance of $4 million. Based on an aging analysis as of June 30, 2020, approximately 55% of our other receivables were due within 12 months or less.

Implementation Costs Incurred in a Cloud Computing Arrangement — In August 2018, the FASB issued ASU 2018-15 associated with a customer’s accounting for implementation costs incurred in a cloud computing arrangement that is a service contract. The amendments align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. Costs for implementation activities in the application development stage are capitalized as prepayments depending on the nature of the costs, while costs incurred during the preliminary project and post-implementation stages are expensed as the activities are performed. The Company adopted this amended guidance on January 1, 2020 prospectively, and it did not have a material impact on our consolidated financial statements.

WASTE MANAGEMENT, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS — (Continued)

Guarantor Financial Information — In March 2020, the SEC adopted final rules that simplify the disclosure requirements related to certain registered securities under SEC Regulation S-X, Rules 3-10 and 3-16, permitting registrants to provide certain alternative financial disclosures and non-financial disclosures in lieu of separate consolidating financial statements for subsidiary issuers and guarantors of registered debt securities (which we previously included within the notes to our financial statements included in our Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q) if certain conditions are met. The disclosure requirements, as amended, are now located in newly-created Rules 13-01 and 13-02 of Regulation S-X and are generally effective for filings on or after January 4, 2021, with early adoption permitted. We early adopted the new disclosure requirements effective as of April 1, 2020 and are providing the summarized financial information and related disclosures in Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations in this Form 10-Q.

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.

2. Landfill and Environmental Remediation Liabilities

Liabilities for landfill and environmental remediation costs are presented in the table below (in millions):


	June 30, 2020						December 31, 2019
			Environmental						Environmental
	Landfill		Remediation		Total		Landfill		Remediation		Total
Current (in accrued liabilities)	$	108	$	26	$	134	$	138	$	27	$	165
Long-term		1,814		216		2,030		1,717		213		1,930
	$	1,922	$	242	$	2,164	$	1,855	$	240	$