EX-12.1 4 h02934exv12w1.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12.1 Waste Management, Inc. Computation of Ratio of Earnings to Fixed Charges (In Millions, Except Ratios) (Unaudited)
Years Ended December 31, ---------------------------------------- 2002 2001 2000 ---------- ---------- ---------- Income (loss) from continuing operations before income taxes, undistributed earnings from affiliated companies, and minority interest $ 1,254 $ 792 $ 344 ---------- ---------- ---------- Fixed charges deducted from income: Interest expense 462 541 748 Implicit interest in rents 66 65 74 ---------- ---------- ---------- 528 606 822 ---------- ---------- ---------- Earnings available for fixed charges $ 1,782 $ 1,398 $ 1,166 ========== ========== ========== Interest expense $ 462 $ 541 $ 748 Capitalized interest 20 16 22 Implicit interest in rents 66 65 74 ---------- ---------- ---------- Total fixed charges $ 548 $ 622 $ 844 ========== ========== ========== Ratio of earnings to fixed charges 3.3x 2.2x 1.4x ========== ========== ==========