EXHIBIT 12
WASTE MANAGEMENT, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In Millions, Except Ratios)
(Unaudited)
(In Millions, Except Ratios)
(Unaudited)
| Six Months Ended | ||||||||
| June 30, | ||||||||
| 2008 | 2007 | |||||||
| Income before income taxes, losses in equity investments and minority interests | $ | 926 | $ | 883 | ||||
| Fixed charges deducted from income: | ||||||||
| Interest expense | 227 | 267 | ||||||
| Implicit interest in rents | 19 | 31 | ||||||
| 246 | 298 | |||||||
| Earnings available for fixed charges(a) | $ | 1,172 | $ | 1,181 | ||||
| Interest expense | $ | 227 | $ | 267 | ||||
| Capitalized interest | 8 | 10 | ||||||
| Implicit interest in rents | 19 | 31 | ||||||
| Total fixed charges(a) | $ | 254 | $ | 308 | ||||
| Ratio of earnings to fixed charges | 4.6x | 3.8x | ||||||
| (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. |