WASTE MANAGEMENT INC (WM) Risk Factors

Recent key developments

Concrete developments — dated events, named agreements and instruments, legal proceedings — that WASTE MANAGEMENT INC surfaced in its latest filing.

• In 2025, a decline in market prices for recyclable commodities resulted in a year-over-year revenue decrease of $166 million.2025
• In 2024, an increase in market prices for recyclable commodities resulted in a year-over-year revenue increase of $245 million.2024
• As of December 31, 2025, we had $1.8 billion of tax-exempt bonds with term interest rate periods that expire within the next 12 months.December 31, 2025
• We have a $3.5 billion revolving credit facility maturing in May 2029.May 2029
• We had $1.1 billion in commercial paper outstanding (net of discount) as of December 31, 2025.December 31, 2025
• We had $227 million in letters of credit issued under the facility as of December 31, 2025.December 31, 2025
• Unused capacity under the facility was $2.2 billion as of December 31, 2025.December 31, 2025
• The company acquired Stericycle, which is involved in government investigations, enforcement proceedings, lawsuits, and other disputes alleging noncompliance with the Controlled Substances Act and other statutes involving its now-divested Domestic Environmental Solutions business.
• The current administration retroactively lowered 2024 blending volumes under the Renewable Fuel Standard program.2024
• Proposed reductions for 2025 blending volumes under the Renewable Fuel Standard program.2025
• Low targets for 2026–2027 blending volumes under the Renewable Fuel Standard program.2026–2027