Waste Management 2007 Annual Report Download - page 84
Download and view the complete annual report
Please find page 84 of the 2007 Waste Management annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74 -
75 -
76 -
77 -
78 -
79 -
80 -
81 -
82 -
83 -
84 -
85 -
86 -
87 -
88 -
89 -
90 -
91 -
92 -
93 -
94 -
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
 |
 |
currency derivatives have not materially affected our financial position or results of operations for the periods
presented. In addition, while changes in foreign currency exchange rates could significantly affect the fair value of
our foreign currency derivatives, we believe these changes in fair value would not have a material impact to the
Company.
Commodities Price Exposure. We market recycled products such as wastepaper, aluminum and glass from
our material recovery facilities. We have entered into commodity swaps and options to mitigate the variability in
cash flows from a portion of these sales. Under the swap agreements, we pay a floating index price and receive a
fixed price for a fixed period of time. With regard to our option agreements, we have purchased price protection on
certain wastepaper sales via synthetic floors (put options) and price protection on certain wastepaper purchases via
synthetic ceilings (call options). Additionally, we have entered into collars (combination of a put and call option)
with financial institutions in which we receive the market price for our wastepaper and aluminum sales within a
specified floor and ceiling. We record changes in the fair value of commodity derivatives not designated as hedges
to earnings, as required. The fair value position of our commodity derivatives is not material to our financial
position at December 31, 2007 and 2006.
49