Comprehensive Income

6 Months Ended

Jun. 30, 2011


6.	Comprehensive Income

Comprehensive income was as follows (in millions):


	Three Months						Six Months
	Ended June 30,						Ended June 30,
	2011			2010			2011			2010

Consolidated net income	$	250		$	258		$	446		$	450

Other comprehensive income (loss), net of taxes:
Unrealized losses resulting from changes in fair value of derivative instruments, net of taxes		(8	)		(22	)		(13	)		(33	)
Realized (gains) losses on derivative instruments reclassified into earnings, net of taxes		1			(9	)		9			—
Unrealized gains (losses) on marketable securities, net of taxes		1			(1	)		(1	)		—
Foreign currency translation adjustments		8			(37	)		36			(10	)
Change in funded status of post-retirement benefit obligations, net of taxes		—			(1	)		(2	)		(1	)

Other comprehensive income (loss)		2			(70	)		29			(44	)

Comprehensive income		252			188			475			406
Comprehensive income attributable to noncontrolling interests		(13	)		(12	)		(23	)		(22	)

Comprehensive income attributable to Waste Management, Inc.	$	239		$	176		$	452		$	384

The components of accumulated other comprehensive income, which is included as a component of Waste Management, Inc. stockholders’ equity, were as follows (in millions):


	June 30,			December 31,
	2011			2010

Accumulated unrealized loss on derivative instruments, net of taxes	$	(37	)	$	(33	)
Accumulated unrealized gain on marketable securities, net of taxes		4			5
Foreign currency translation adjustments		297			261
Funded status of post-retirement benefit obligations, net of taxes		(5	)		(3	)

	$	259		$	230

- Definition

This label may include the following: 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. Components of comprehensive income include: (1) foreign currency translation adjustments; (2) gains and losses on foreign currency transactions that are designated as, and are effective as, economic hedges of a net investment in a foreign entity; (3) gains and losses on intercompany foreign currency transactions that are of a long-term-investment nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements; (4) change in the market value of a futures contract that qualifies as a hedge of an asset reported at fair value; (5) unrealized holding gains and losses on available-for-sale securities and that resulting from transfers of debt securities from the held-to-maturity category to the available-for-sale category; (6) a net loss recognized as an additional pension liability not yet recognized as net periodic pension cost; and (7) the net gain or loss and net prior service cost or credit for pension plans and other postretirement benefit plans.

+ References+ Details