WM · 10-Q · 2026Q3 · Full report

Debt and Liquidity Position

WASTE MANAGEMENT INC · 2026-10-28 · Importance 61 · Surprise 32

Total debt was $23,370 million at September 30, 2026, compared with $22,907 million at December 31, 2025; long-term debt was $21,846 million. Approximately $4.4 billion of debt matures within the next 12 months, including $2.2 billion of tax-exempt bonds with rate periods expiring, $1.2 billion of commercial paper, and $750 million of senior notes due July 2027. The company classified $2.9 billion of upcoming maturities as long-term based on its intent and ability to refinance, supported by forecast capacity under its $3.5 billion revolving credit facility. The remaining $1.5 billion due within 12 months is classified as current obligations.

Key facts

• As of September 30, 2026, Waste Management classified $2.9 billion of debt due within 12 months as long-term, based on intent and ability to refinance using forecast available capacity under its $3.5 billion U.S. and Canadian revolving credit facility; the remaining $1.5 billion was current. source
• As of September 30, 2026, approximately $4.4 billion of debt was due within 12 months, including $2.2 billion of tax-exempt bonds whose term interest-rate periods expire within 12 months, $1.2 billion of commercial paper borrowings, $750 million of 4.95% senior notes due July 2027, and $211 million of other debt. source
• As of September 30, 2026, Waste Management had $23,370 million of total debt, including $21,846 million of long-term debt. source
• Net interest expense was $237 million for Q3 2026 and $695 million for the nine months ended September 30, 2026, compared with $225 million and $689 million, respectively, in 2025. source
• Net interest expense increased because completion of most planned sustainability growth projects by the end of 2025 reduced capitalized interest; for the first nine months of 2026, lower average debt partly offset the increase. source