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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
January 29, 1998
Date of Report (Date of earliest event reported)
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WASTE MANAGEMENT, INC.
(Exact name of registrant as specified in its charter)
DELAWARE
(State or other jurisdiction of incorporation)
1-7327 36-2660763
(Commission File Number) (IRS Employer
Identification No.)
3003 BUTTERFIELD ROAD, OAK BROOK, ILLINOIS 60523
(Address of principal executive offices) (Zip code)
(630) 572-8800
(Registrant's telephone number, including area code)
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Item 5. Other Events.
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On January 29, 1998, the registrant issued a press release concerning (i)
the timing of its announcement of fourth-quarter and full-year 1997 earnings and
(ii) plans to restate prior period financial results for 1992 through 1997. A
copy of the press release containing these announcements is filed herewith as an
exhibit and incorporated herein by reference.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
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No financial statements or pro forma financial information are required to
be filed as a part of this report. There are no exhibits filed as part of this
report.
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SIGNATURES
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
WASTE MANAGEMENT, INC.
By: /s/ Herbert A. Getz
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Herbert A. Getz
Senior Vice President and General Counsel
Dated: February 2, 1998
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WASTE MANAGEMENT, INC.
EXHIBIT INDEX
Number and Description of Exhibit*
1. None
2. None
4. None
16. None
17. None
20. None
23. None
24. None
27. None
99. News Release dated January 29, 1998 issued by Waste Management, Inc.
*Exhibits not listed are inapplicable.
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EXHIBIT 99
Analyst contact: Media contact:
Cherie Rice William J. Plunkett
(630) 218-1850 (630) 572-8898
WASTE MANAGEMENT, INC. TO RELEASE EARNINGS BY FEBRUARY 24
AND RESTATE PRIOR PERIOD FINANCIAL RESULTS
Oak Brook, Illinois, January 29, 1998 -- Waste Management, Inc. (NYSE: WMX)
today said that it currently expects to report earnings for the fourth quarter
and full year 1997 on or before February 24, 1998.
On January 5, 1998, the Company announced that it would amend its Form 10-K and
10-Q filings for the year ended December 31, 1996 and the three-month periods
ended March 31 and June 30, 1997 to reflect revisions to various items of income
and expense in earlier financial statements contained in its 10-Q filing for the
period ended September 30,1997. The Company also indicated that similar
revisions were expected to be made in the financial statements for 1995 and
1994.
Today, Waste Management reported that it will restate prior period financial
results including earnings for 1992 through 1997 reflecting such revisions as
well as changes in various items of expense, including those in the areas of
vehicle and equipment depreciation and landfill cost accounting. The restatement
will not affect revenues for these periods.
The Company said it is continuing its extensive examination of its North
American operations, assets and investments. This review is expected to result
in a material charge to earnings and stockholders' equity.
"Our accounting review is continuing to move forward at an aggressive pace so
that we can resolve all unanswered questions as quickly as possible," said Mr.
Roderick M. Hills, Chairman of the Waste Management Audit Committee.
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