Waste Management 2015 Annual Report Download - page 180

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, 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
Other comprehensive income (loss) before
reclassifications, net of tax expense (benefit) of
$20, $(1), $0 and $1, respectively ............. 30 (2) (164) 2 (134)
Amounts reclassified from accumulated other
comprehensive income, net of tax (expense)
benefit of $(14), $0, $0 and $0, respectively ..... (21) — 5 — (16)
Net current period other comprehensive income (loss) . . . 9 (2) (159) 2 (150)
Balance, December 31, 2015 ....................... $(52) $ 8 $ (75) $ (8) $(127)
The amounts of other comprehensive income (loss) before reclassifications associated with the effective
portion of derivatives designated as cash flow hedges are as follows (in millions):
Years Ended December 31,
2015 2014 2013
Forward-starting interest rate swaps ....................... $— $(8) $14
Foreign currency derivatives ............................ 50 23 17
Electricity commodity derivatives ........................ — (5) (8)
Total before tax ................................... 50 10 23
Tax (expense) benefit .............................. (20) (4) (9)
Netoftax ....................................... $ 30 $ 6 $14
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