WASTE MANAGEMENT INC (WM) [Rocket]

In millions, except per share items	Jun-30-22	Mar-31-22	Dec-31-21	Sep-30-21	Jun-30-21	Mar-31-21	Dec-31-20	Sep-30-20
	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q
Total revenues	5,027	4,661	4,678	4,665	4,476	4,112	4,067	3,861
Revenue growth	12.3%	13.4%	15.0%	20.8%	25.7%	10.3%	5.7%	-2.7%
Cost of goods sold	3,142	2,903	2,955	2,906	2,736	2,514	2,500	2,332
Gross profit	1,885	1,758	1,723	1,759	1,740	1,598	1,567	1,529
Gross margin	37.5%	37.7%	36.8%	37.7%	38.9%	38.9%	38.5%	39.6%
Selling, general and administrative [+]	487	491	492	469	445	458	510	416
General and administrative			492				510
Equity in earnings	17	15	2	14	11	9	12	16
Other operating expenses		17	1	-34		17	-33	7
EBITDA [+]	1,415	1,265	1,232	1,338	1,306	1,132	1,102	1,122
EBITDA growth	8.3%	11.7%	11.8%	19.3%	36.5%	13.1%	1.7%	-2.7%
EBITDA margin	28.1%	27.1%	26.3%	28.7%	29.2%	27.5%	27.1%	29.1%
Depreciation and amortization	508	482	510	517	500	472	436	419
EBIT [+]	907	783	722	821	806	660	666	703
EBIT growth	12.5%	18.6%	8.4%	16.8%	48.4%	10.2%	-3.3%	-6.1%
EBIT margin	18.0%	16.8%	15.4%	17.6%	18.0%	16.1%	16.4%	18.2%
Non-recurring items			2	1	4	1		7
Interest expense	93	85	83	87	98	97	97	97
Interest expense	93	85	83	87	98	97	97	97
Other income (expense), net [+]	-38	-27	5	-27	-248	-17	-22	-83
Gain (loss) on debt retirement					-220		-1	-52
Other	-4	3	9	1	-6	1	3	1
Pre-tax income	776	671	642	706	456	545	547	516
Income taxes	189	157	136	167	105	124	109	126
Tax rate	24.4%	23.4%	21.2%	23.7%	23.0%	22.8%	19.9%	24.4%
Minority interest		1		1
Net income	587	513	506	538	351	421	438	390
Net margin	11.7%	11.0%	10.8%	11.5%	7.8%	10.2%	10.8%	10.1%

Basic EPS [+]	$1.42	$1.23	$1.20	$1.28	$0.83	$1.00	$1.04	$0.92
Growth	70.1%	24.0%	16.2%	39.0%	14.5%	17.0%	-1.6%	-20.9%
Diluted EPS [+]	$1.41	$1.23	$1.20	$1.27	$0.83	$0.99	$1.03	$0.92
Growth	70.1%	23.7%	16.1%	38.8%	14.4%	17.2%	-1.5%	-20.7%

Dividends per share [+]	$0.65	$0.65	$0.58	$0.58	$0.58	$0.58	$0.55	$0.55
Growth	13.0%	13.0%	5.5%	5.5%	5.5%	5.5%	6.3%	6.3%

Shares outstanding (basic) [+]	414	416	420	420	422	423	423	423
Growth	-1.7%	-1.7%	-0.6%	-0.8%	-0.2%	-0.3%	-0.4%	-0.4%
Shares outstanding (diluted) [+]	416	418	423	422	424	424	425	425
Growth	-1.7%	-1.5%	-0.5%	-0.6%	-0.1%	-0.5%	-0.6%	-0.7%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.