|
|
|
|
|
|
|
|
|
|
|
|
|
|
Previous: WASTE MANAGEMENT INC, 10-Q, 2000-11-08 |
Next: WASTE MANAGEMENT INC, 10-Q, EX-27, 2000-11-08 |
<PAGE> 1
EXHIBIT 12
WASTE MANAGEMENT, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(IN THOUSANDS, EXCEPT RATIOS)
(UNAUDITED)
<TABLE>
<CAPTION>
Nine Months Ended September 30,
-------------------------------
2000 1999
------------ ------------
<S> <C> <C>
Income before income taxes and minority interests $ 183,427 $ (125,327)
------------ ------------
Fixed charges deducted from income:
Interest expense 588,260 549,702
Implicit interest in rents 49,371 46,884
------------ ------------
637,631 596,586
------------ ------------
Earnings available for fixed charges $ 821,058 $ 471,259
============ ============
Interest expense $ 588,260 $ 549,702
Capitalized interest 15,196 29,708
Implicit interest in rents 49,371 46,884
------------ ------------
Total fixed charges $ 652,826 $ 626,294
============ ============
Ratio of earnings to fixed charges 1.3X N/A(1)
============ ============
</TABLE>
(1) The ratio of earnings to fixed charges for 1999 was less than a
one-to-one ratio. Additional earnings available for fixed charges of
$155.0 million were needed to have a one-to-one ratio. The earnings
available for fixed charges were negatively impacted by merger cost of
$111.3 million and unusual items of $700.0 million related primarily to
the merger between Waste Management, Inc. and Waste Management Holdings,
Inc. in July 1998.
|
|