EXHIBIT 12

WASTE MANAGEMENT, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In Millions, Except Ratios)
(Unaudited)

		Nine Months Ended
		September 30,
		2004				2003
Income before income taxes, cumulative effect of changes in accounting principles, equity in losses of unconsolidated entities and minority interests		$	939			$	791
Fixed charges deducted from income:
Interest expense			344				329
Implicit interest in rents			38				52
			382				381
Earnings available for fixed charges		$	1,321			$	1,172
Interest expense		$	344			$	329
Capitalized interest			16				16
Implicit interest in rents			38				52
Total fixed charges		$	398			$	397
Ratio of earnings to fixed charges			3.3 x				3.0 x