EX-12 4 h29648exv12.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)
                 
    Nine Months Ended  
    September 30,  
    2005     2004  
Income before income taxes, cumulative effect of changes in accounting principles, losses in equity investments and minority interests
   $ 868     $ 939  
 
            
Fixed charges deducted from income:
                
Interest expense
     369       344  
Implicit interest in rents
     38       38  
 
            
 
     407       382  
 
            
Earnings available for fixed charges
   $ 1,275     $ 1,321  
 
            
 
                
Interest expense
   $ 369     $ 344  
Capitalized interest
     4       16  
Implicit interest in rents
     38       38  
 
            
Total fixed charges
   $ 411     $ 398  
 
            
 
                
Ratio of earnings to fixed charges
     3.1x       3.3x