EX-12 5 h05223exv12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES exv12
 

EXHIBIT 12

WASTE MANAGEMENT, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In Millions, Except Ratios)
(Unaudited)

                     
        Three Months Ended
        March 31,
       
        2003   2002
       
 
Income before income taxes, cumulative effect of changes in accounting principles and minority interests
   $ 176     $ 220  
 
    
     
 
Fixed charges deducted from income:
                
 
Interest expense
     109       118  
 
Implicit interest in rents
     17       14  
 
    
     
 
 
     126       132  
 
    
     
 
   
Earnings available for fixed charges
   $ 302     $ 352  
 
    
     
 
Interest expense
   $ 109     $ 118  
Capitalized interest
     5       3  
Implicit interest in rents
     17       14  
 
    
     
 
   
Total fixed charges
   $ 131     $ 135  
 
    
     
 
   
Ratio of earnings to fixed charges
     2.3       2.6