1 Exhibit 12 SAFETY-KLEEN CORP. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Six Months Ended February 28, Fiscal Year ------------ 1994 1995 1996 1997 1998 1998 1999 ---- ---- ---- ---- ---- ---- ---- (dollars in thousands) Income (loss) from continuing operations before income tax $ 25,731 $ 21,684 $ 11,860 $(306,122) $ 20,352 $ 23,255 $ 79,672 Add: Portion of rents representative of the interest factor 8,577 11,800 11,967 12,033 16,841 5,135 10,279 Interest on indebtedness, including amortization of financing charges 34,000 41,142 46,850 44,273 107,697 29,489 89,705 --------- --------- --------- --------- --------- --------- --------- Income as adjusted 68,308 74,626 70,677 (249,816) 144,890 57,879 179,656 ========= ========= ========= ========= ========= ========= ========= Fixed charges: Portion of rents representative of the interest factor 8,577 11,800 11,967 12,033 16,841 5,135 10,279 Interest on indebtedness, including amortization of financing charges 34,000 41,142 46,850 44,273 107,697 29,489 89,705 --------- --------- --------- --------- --------- --------- --------- Total fixed charges 42,577 52,942 58,817 56,306 124,538 34,624 99,984 ========= ========= ========= ========= ========= ========= ========= Ratio of earnings to fixed charges 1.60x 1.41x 1.20x (4.44)x 1.16x 1.67x 1.80x 2 SAFETY-KLEEN CORP. PRO FORMA COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES The following computation for fiscal 1998 and the twelve months ended February 28, 1999 reflect, on a pro forma basis, earnings available for fixed charges, and the resultant ratios. Twelve Months Fiscal Year Ended 1998 February 28, 1999 ---- ----------------- Income (loss) from continuing operations before income tax $ (19,761) $ 58,963 Add: Portion of rents representative of the interest factor 16,841 21,985 Interest on indebtedness, including amortization of financing charges 188,420 183,528 --------- --------- Income as adjusted 185,500 264,476 ========= ========= Fixed charges: Portion of rents representative of the interest factor 16,841 21,985 Interest on indebtedness, including amortization of financing charges 188,420 183,528 --------- --------- Total fixed charges 205,261 205,513 ========= ========= Ratio of earnings to fixed charges 0.90x 1.29x