EXHIBIT 12

WASTE MANAGEMENT, INC.

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

	Three Months Ended
	March 31,
	2004		2003
Income before income taxes, cumulative effect of changes in accounting principles, net losses in equity investments and minority interests	$	232	$	176
Fixed charges deducted from income:
Interest expense		113		109
Implicit interest in rents		12		17
		125		126
Earnings available for fixed charges	$	357	$	302
Interest expense	$	113	$	109
Capitalized interest		4		5
Implicit interest in rents		12		17
Total fixed charges	$	129	$	131
Ratio of earnings to fixed charges		2.8x		2.3x