EXHIBIT 12 WMX TECHNOLOGIES, INC. Ratio of Earnings to Fixed Charges (Unaudited) (millions of dollars, except ratio) Three Months Ended March 31 ------------------- 1993 1994 -------- -------- Income Before Income Taxes and Minority Interest....................................... $355.1 $317.0 Interest Expense................................ 83.5 109.4 Capitalized Interest............................ (24.1) (25.2) One-Third of Rents Payable in the Next Year..... 10.9 12.0 ------ ------ Income Before Income Taxes, Minority Interest, Interest and One-Third of Rents................ $425.4 $413.2 ====== ====== Interest Expense................................ $ 83.5 $109.4 One-Third of Rents Payable in the Next Year..... 10.9 12.0 ------ ------ Interest Expense plus One-Third of Rents........ $ 94.4 $121.4 ====== ====== Ratio of Earnings to Fixed Charges.............. 4.51 to 1 3.40 to 1 22