Waste Management Holdings Inc – ‘10-K’ for 12/31/95 – EX-12

As of:  Friday, 3/29/96   ·   For:  12/31/95   ·   Accession #:  950131-96-1323   ·   File #:  1-07327

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Annual Report   —   Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                         43    275K 
 3: EX-10.11    Non-Qualified Profit Sharing & Savings Plus Plan      11     43K 
 4: EX-10.21    Employment Agreement                                   7     34K 
 2: EX-10.7     Supplemental Executive Retirement Plan                 8     36K 
 5: EX-12       Ratio of Earnings to Fixed Charges                     2     12K 
 6: EX-13.1     Management's Discussion and Analysis                  20±    87K 
 7: EX-13.2     Report of Independent Accountants                     38±   189K 
 8: EX-21       Subsidiaries of Wmx Technologies, Inc                 32    110K 
 9: EX-23       Consent of Independent Public Accountants              1      7K 
10: EX-27       Consolidated Financial Data Schedule                   2     10K 

EX-12   —   Ratio of Earnings to Fixed Charges

EX-12
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                                                                      Exhibit 12
WMX TECHNOLOGIES, INC.

Ratio of Earnings to Fixed Charges
(Unaudited) 

(millions of dollars, except ratio) 

                                                        [Enlarge/Download Table]

                                                            Year Ended December 31,                 
                                     -------------------------------------------------------------- 
                                     1991(1)      1992(2)      1993(3)(6)   1994(4)(6)   1995(5)(6) 
                                     ----         ----         ----         ----         ----       
                                                                                                    
Income From Continuing Operations                                                                   
  Before Income Taxes,                                                                              
  Undistributed Earnings from                                                                       
  Affiliated Companies, Minority                                                                    
  Interest, Extraordinary                                                                           
  Item and Cumulative Effect of                                                                     
  Accounting Changes................ $  1,139.4   $  1,555.2   $    841.0   $  1,461.1   $  1,267.5 
Interest Expense....................      279.9        311.0        393.6        439.7        506.2 
             Capitalized Interest...     (111.4)       (87.9)      (100.6)      (104.5)       (81.5)
One-Third of Rents Payable                                                                          
  in the Next Year..................       46.7         44.7         48.5         53.9         56.8 
                                     ----------   ----------   ----------   ----------   ---------- 

Income From Continuing Operations                                                                   
  Before Income Taxes,                                                                              
  Undistributed Earnings from                                                                       
  Affiliated Companies, Minority                                                                    
  Interest, Extraordinary                                                                           
  Item, Cumulative Effect of                                                                        
  Accounting Changes, Interest and                                                                  
  One-Third of Rents................ $  1,354.6   $  1,823.0   $  1,182.5   $  1,850.2   $  1,749.0 
                                     ==========   ==========   ==========   ==========   ========== 

Interest Expense.................... $    279.9   $    311.0   $    393.6   $    439.7   $    506.2 
One-Third of Rents Payable in the                                                                   
  Next Year.........................       46.7         44.7         48.5         53.9         56.8 
                                     ----------   ----------   ----------   ----------   ---------- 

Interest Expense plus One-Third                                                                     
  of Rents.......................... $    326.6   $    355.7   $    442.1   $    493.6   $    563.0 
                                     ==========   ==========   ==========   ==========   ========== 

Ratio of Earnings to Fixed                                                                          
  Charges...........................  4.15 to 1    5.13 to 1    2.67 to 1    3.75 to 1    3.11 to 1 

----------------------                                                          
(1)  The results for 1991 include a special charge ($296.0 million before tax   
and minority interest) primarily to reflect then current estimates of the       
environmental remediation liabilities at waste disposal sites previously used or
operated by the Company and its subsidiaries or their predecessors.             

(2)  The results for 1992 include a non-taxable gain ($240.0 million before     
minority interest) resulting from the initial public offering of 75 million     
newly issued ordinary shares of Waste Management International plc in April 1992
and special charges ($219.9 million before tax and minority interest).  The     
results for 1992 exclude the cumulative effect of accounting changes ($71.1     
million after tax and minority interest) related to the adoption of Statements  
of Financial Accounting Standards Nos. 106 and 109.                             

(3)  The results for 1993 include a non-taxable gain ($15.1 million before      
minority interest) relating to the issuance of shares by Rust International Inc.
as well as a special asset revaluation and restructuring charge ($550.0 million 
before tax and minority interest) related primarily to a revaluation of Chemical
Waste Management, Inc.'s thermal treatment business.                            

(4)  The results for 1994 include a charge ($9.2 million before tax and         
minority interest) recorded by Rust International Inc. to write off assets and  
recognize costs of exiting certain of Rust's service lines and closing offices  
in a consolidation of certain of its operating groups.                          

(5)  The results for 1995 include a special charge ($140.6 million before tax)  
recorded by Chemical Waste Management, Inc., primarily to write off its         
investment in facilities and technologies that it abandoned because they do not 
meet customer service or performance objectives, and a special charge ($194.6   
million before tax and minority interest) recorded by Waste Management          
International plc relating to actions it is taking to sell or otherwise dispose 
of non-core businesses and investments, as well as core businesses and          
investments in low potential markets, abandon certain hazardous waste treatment 
and processing technologies and streamline its country management organization. 

EX-12
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(6)  In 1995, the Rust International Inc. Board of Directors approved a plan    
to sell or otherwise discontinue that company's process engineering,            
construction, specialty contracting and similar lines of business.  Accordingly,
these businesses have been segregated as discontinued operations in the         
financial statements since 1993.  It is not practical to restate periods prior  
to the formation of Rust International Inc. on January 1, 1993, for the         
discontinued operations.  The ratio of earnings to fixed charges for 1993 and   
1994 have been restated.                                                        

Dates Referenced Herein

				Referenced-On Page
This ‘10-K’ Filing		Date		First		Last			Other Filings
Filed on:		3/29/96							None on these Dates
For Period End:		12/31/95
		1/1/93		2
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