Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Sep. 30, 2020

Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (Loss)

10.  Accumulated Other Comprehensive Income (Loss)

The changes in the balances of each component of accumulated other comprehensive income (loss), 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):

					Foreign		Post-
			Available-		Currency		Retirement
	Derivative		for-Sale		Translation		Benefit
	Instruments		Securities		Adjustments(a)		Obligations		Total
December 31, 2019	$	(24)	$	38	$	(21)	$	(1)	$	(8)
Other comprehensive income (loss) before reclassifications, net of tax expense (benefit) of $1, $3, $0 and $0, respectively		4		7		(23)		—		(12)
Amounts reclassified from accumulated other comprehensive (income) loss, net of tax (expense) benefit of $2, $0, $0 and $0, respectively		5		—		—		(1)		4
Net current period other comprehensive income (loss)		9		7		(23)		(1)		(8)
September 30, 2020	$	(15)	$	45	$	(44)	$	(2)	$	(16)

(a) Foreign currency translation adjustments were impacted by a decrease in the Canadian/U.S. dollar exchange rate from 0.7698 at December 31, 2019 to 0.7507 at September 30, 2020.

We entered into interest rate derivatives during 2020, all of which were classified as a cash flow hedges and are discussed further in Note 3. We had no active derivatives outstanding during 2019. Amounts reclassified out of accumulated other comprehensive income (loss) associated with our previously terminated cash flow hedges were not material for the periods presented.