EX-12.1 5 h43426exv12w1.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES exv12w1
 

EXHIBIT 12.1
WASTE MANAGEMENT, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In Millions, Except Ratios)
(Unaudited)
                         
    Years Ended December 31,  
    2006     2005     2004  
Income before income taxes, cumulative
                        
effect of change in accounting principle,
                        
losses in equity investments and
                        
minority interests
   $ 1,560     $ 1,253     $ 1,316  
 
                  
Fixed charges deducted from income:
                        
Interest expense
     545       496       455  
Implicit interest in rents
     49       51       51  
 
                  
 
     594       547       506  
 
                  
Earnings available for fixed charges
   $ 2,154     $ 1,800     $ 1,822  
 
                  
Interest expense
   $ 545     $ 496     $ 455  
Capitalized interest
     18       9       22  
Implicit interest in rents
     49       51       51  
 
                  
Total fixed charges
   $ 612     $ 556     $ 528  
 
                  
Ratio of earnings to fixed charges
     3.5x       3.2x       3.5x