Waste Management 2014 Annual Report Download - page 197

WASTE MANAGEMENT, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
14. Accumulated Other Comprehensive Income
The changes in the balances of each component of accumulated other comprehensive income, net of tax,
which is included as a component of Waste Management, Inc. stockholders’ equity, are as follows (in millions,
with amounts in parentheses representing decreases to accumulated other comprehensive income):
Derivative
Instruments
Available-
for-Sale
Securities
Foreign
Currency
Translation
Adjustments
Post-
Retirement
Benefit
Plans Total
Balance, December 31, 2011 ....................... $(62) $ 2 $ 243 $ (11) $ 172
Other comprehensive income (loss) before
reclassifications, net of tax expense (benefit) of
$(14), $2, $0 and $(2), respectively ............ (22) 2 33 (2) 11
Amounts reclassified from accumulated other
comprehensive income, net of tax (expense)
benefit of $5, $0, $0 and $0, respectively ....... 10 — — — 10
Net current period other comprehensive income (loss) . . . (12) 2 33 (2) 21
Balance, December 31, 2012 ....................... $(74) $ 4 $ 276 $ (13) $ 193
Other comprehensive income (loss) before
reclassifications, net of tax expense (benefit) of
$9, $1, $0 and $10, respectively ............... 14 2 (68) 15 (37)
Amounts reclassified from accumulated other
comprehensive income, net of tax (expense)
benefit of $(1), $0, $0 and $0, respectively ...... (2) — — — (2)
Net current period other comprehensive income (loss) . . . 12 2 (68) 15 (39)
Balance, December 31, 2013 ....................... $(62) $ 6 $ 208 $ 2 $ 154
Other comprehensive income (loss) before
reclassifications, net of tax expense (benefit) of
$4, $2, $0 and $(8), respectively .............. 6 4 (107) (11) (108)
Amounts reclassified from accumulated other
comprehensive income, net of tax (expense)
benefit of $(3), $0, $0 and $0, respectively ...... (5) — (17) (1) (23)
Net current period other comprehensive income (loss) . . . 1 4 (124) (12) (131)
Balance, December 31, 2014 ....................... $(61) $ 10 $ 84 $ (10) $ 23
The amounts of other comprehensive income (loss) before reclassifications associated with our cash flow
derivative instruments are as follows (in millions):
Amount of Derivative Gain (Loss) Recognized in OCI
(Effective Portion)
Years Ended December 31,
Derivatives Designated as Cash Flow Hedges 2014 2013 2012
Forward-starting interest rate swaps ....... $(8) $14 $(27)
Foreign currency derivatives ............. 23 17 (9)
Electricity commodity derivatives ......... (5) (8) —
Total before tax ................... 10 23 (36)
Tax (expense) benefit ............... (4) (9) 14
Netoftax ........................ $ 6 $14 $(22)
120