Waste Management 2014 Annual Report Download - page 198

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, with amounts in parentheses representing debits to the statement of operations classification):
Amount Reclassified from
Accumulated
Other Comprehensive
Income
Years Ended December 31, Statement of
Operations ClassificationDetails about Accumulated Other Comprehensive Income Components 2014 2013 2012
Gains and losses on cash flow hedges:
Forward-starting interest rate swaps ................ $(10) $ (7) $ (3) Interest expense
Treasury rate locks ............................. (1) (2) (7) Interest expense
Foreign currency derivatives ...................... 27 21 (15) Other, net
Electricity commodity derivatives ................. (8) (9) 10 Operating revenues
8 3 (15) Total before tax
(3) (1) 5 Tax (expense) benefit
Total reclassifications for the period ............... $ 5 $ 2 $(10) Net of tax
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, 2014, we had 458.5 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 paid in accordance with our financial plans approved by our
Board of Directors. Cash dividends declared and paid were $693 million in 2014, or $1.50 per common share,
$683 million in 2013, or $1.46 per common share and $658 million in 2012, or $1.42 per common share.
In February 2015, we announced that our Board of Directors expects to increase the quarterly dividend from
$0.375 to $0.385 per share for dividends declared in 2015. 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.
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