EX-12 2 h66565exv12.htm EX-12 exv12
EXHIBIT 12
WASTE MANAGEMENT, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In Millions, Except Ratios)
(Unaudited)
                 
    Three Months  
    Ended  
    March 31,  
    2009     2008  
Income before income taxes and losses in equity investments
   $ 271     $ 395  
 
            
 
                
Fixed charges deducted from income:
                
Interest expense
     105       122  
Implicit interest in rents
     9       9  
 
            
 
     114       131  
 
            
Earnings available for fixed charges(a)
   $ 385     $ 526  
 
            
 
                
Interest expense
   $ 105     $ 122  
Capitalized interest
     3       4  
Implicit interest in rents
     9       9  
 
            
Total fixed charges(a)
   $ 117     $ 135  
 
            
 
                
Ratio of earnings to fixed charges
     3.3x       3.9x  
 
            
 
(a)   To the extent interest may be assessed by taxing authorities on any underpayment of income tax, such amounts are classified as a component of income tax expense in our Statements of Operations. For purposes of this disclosure, we have elected to exclude interest expense related to income tax matters from our measurements of “Earnings available for fixed charges” and “Total fixed charges” for all periods presented.