EXHIBIT 12 WMX TECHNOLOGIES, INC. Ratio of Earnings to Fixed Charges (Unaudited) (millions of dollars, except ratio) Three Months Ended March 31 ------------------ 1996 1997 ------ ------- Income from Continuing Operations Before Income Taxes, Undistributed Earnings from Affiliated Companies and Minority Interest ....................... $324.6 $330.4 Interest Expense.......................................... 111.0 113.3 Captialized Interest...................................... (17.2) (14.9) One-Third of Rents Payable in the Next Year............... 13.8 12.5 ------ ------ Income from Continuing Operations Before Income Taxes, Undistributed Earnings from Affiliated Companies, Minority Interest, Interest and One-Third of Rents..................................... $432.2 $441.3 ====== ====== Interest Expense.......................................... $111.0 $113.3 One-Third of Rents Payable in the Next Year............... 13.8 12.5 ------ ------ Interest Expense plus One-third of Rents.................. $124.8 $125.8 ====== ====== Ratio of Earnings to Fixed Charges........................ 3.46 to 1 3.51 to 1