EX-12 3 dex12.txt EXHIBIT 12 Exhibit 12 MARRIOTT INTERNATIONAL, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES ($ in millions, except ratio) Fifty-two weeks ended December 28, 2001 ----------------- Income/(loss) before income taxes 370 Loss/(income) related to equity method investees 17 ----- 387 Add/(deduct): Fixed charges 241 Interest capitalized (61) Distributed income of equity method investees 4 ----- Earnings available for fixed charges 571 ===== Fixed charges: Interest expensed and capitalized (1) $ 171 Estimate of the interest within rent expense 70 ----- Total fixed charges $ 241 ===== ----- Ratio of earnings to fixed charges 2.4 ===== (1) "Interest expensed and capitalized" includes amortized premiums, discounts and capitalized expenses related to indebtedness.