EX-12.1 6 h12380exv12w1.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, ------------------------------ 2003 2002 2001 ------ ------ ------ Income before income taxes, cumulative effect of changes in accounting principles and minority interests $1,129 $1,249 $ 789 ------ ------ ------ Fixed charges deducted from income: Interest expense 439 467 544 Implicit interest in rents 69 66 65 ------ ------ ------ 508 533 609 ------ ------ ------ Earnings available for fixed charges $1,637 $1,782 $1,398 ====== ====== ====== Interest expense $ 439 $ 467 $ 544 Capitalized interest 22 20 16 Implicit interest in rents 69 66 65 ------ ------ ------ Total fixed charges $ 530 $ 553 $ 625 ====== ====== ====== Ratio of earnings to fixed charges 3.1x 3.2x 2.2x ====== ====== ======