Waste Management 2013 Annual Report Download - page 214

WASTE MANAGEMENT, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
The significant amounts reclassified out of each component of accumulated other comprehensive income are
as follows (in millions):
Amount Reclassified from
Accumulated
Other Comprehensive Income(a)
Statement of
Operations Classification
Years Ended December 31,
Details about Accumulated Other Comprehensive Income Components 2013 2012 2011
Gains and losses on cash flow hedges:
Forward-starting interest rate swaps .................. $ (7) $ (3) $(1) Interest expense
Treasury rate locks ............................... (2) (7) (7) Interest expense
Foreign currency derivatives ........................ 21 (15) 4 Other, net
Electricity commodity derivatives ................... (9) 10 2 Operating revenues
3 (15) (2) Total before tax
(1) 5 1 Tax (expense) benefit
Total reclassifications for the period ............... $ 2 $(10) $(1) Net of tax
(a) Amounts in parentheses represent debits to the statement of operations classification.
15. Capital Stock, Dividends and Share Repurchases
Capital Stock
We have 1.5 billion shares of authorized common stock with a par value of $0.01 per common share. As of
December 31, 2013, we had 464.3 million shares of common stock issued and outstanding. The Board of Directors
is authorized to issue preferred stock in series, and with respect to each series, to fix its designation, relative rights
(including voting, dividend, conversion, sinking fund, and redemption rights), preferences (including dividends
and liquidation) and limitations. We have 10 million shares of authorized preferred stock, $0.01 par value, none of
which is currently outstanding.
Dividends
Our quarterly dividends have been declared and approved by our Board of Directors and paid in accordance
with our financial plans. Cash dividends declared and paid were $683 million in 2013, or $1.46 per common share,
$658 million in 2012, or $1.42 per common share, and $637 million in 2011, or $1.36 per common share.
In February 2014, we announced that our Board of Directors expects to increase the quarterly dividend from
$0.365 to $0.375 per share for dividends declared in 2014. However, all future dividend declarations are at the
discretion of the Board of Directors and depend on various factors, including our net earnings, financial condition,
cash required for future business plans and other factors the Board may deem relevant.
Share Repurchases
Our share repurchases have been made in accordance with financial plans approved by our Board of
Directors. The following is a summary of our share repurchases for the periods presented. We did not repurchase
any shares of common stock in 2012.
Years Ended December 31,
2013 2011
Shares repurchased (in thousands) ............................. 5,368 17,338
Weighted average per share purchase price ...................... $43.48-$45.95 $28.95-$39.57
Total repurchases (in millions) ................................ $239 $575
124