Waste Management 2012 Annual Report Download - page 146

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Currency Rate Exposure — We have operations in Canada and investments in China and the United
Kingdom. From time to time, we use currency derivatives to mitigate the impact of currency translation on cash
flows of intercompany Canadian-currency denominated debt transactions. Our foreign 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. Refer to
Note 8 of the Consolidated Financial Statements for additional information regarding our foreign currency
derivatives. The foreign currency exposure associated with our investments in China and the United Kingdom
has not been material.
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