EX-12 8 h07899exv12.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)
                     
Six Months Ended
June 30,
2003 2002
Income before income taxes, cumulative effect of changes in accounting principles and minority interests
  $ 460     $ 574  
     
     
 
Fixed charges deducted from income:
               
 
Interest expense
    219       234  
 
Implicit interest in rents
    34       29  
     
     
 
      253       263  
     
     
 
   
Earnings available for fixed charges
  $ 713     $ 837  
     
     
 
Interest expense
  $ 219     $ 234  
Capitalized interest
    10       9  
Implicit interest in rents
    34       29  
     
     
 
   
Total fixed charges
  $ 263     $ 272  
     
     
 
   
Ratio of earnings to fixed charges
    2.7       3.1