EX-12.1 5 h32785exv12w1.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,  
    2005     2004     2003  
Income before income taxes, cumulative effect of changes in accounting principles, losses in equity investments and minority interests
   $ 1,253     $ 1,316     $ 1,129  
 
                  
Fixed charges deducted from income:
                        
Interest expense
     496       455       439  
Implicit interest in rents
     51       51       69  
 
                  
 
     547       506       508  
 
                  
Earnings available for fixed charges
   $ 1,800     $ 1,822     $ 1,637  
 
                  
Interest expense
   $ 496     $ 455     $ 439  
Capitalized interest
     9       22       22  
Implicit interest in rents
     51       51       69  
 
                  
Total fixed charges
   $ 556     $ 528     $ 530  
 
                  
Ratio of earnings to fixed charges
     3.2x       3.5x       3.1x