EX-12 3 dex12.txt EXHIBIT 12 Exhibit 12 MARRIOTT INTERNATIONAL, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES ($ in millions, except ratio)
Twenty-four weeks ended June 14, 2002 ------------- Income/(loss) before income taxes $254 Loss/(income) related to equity method investees 2 ------ 256 Add/(deduct): Fixed charges 95 Interest capitalized (23) Distributed income of equity method investees 8 ------ Earnings available for fixed charges $336 ====== Fixed charges: Interest expensed and capitalized (1) $ 63 Estimate of the interest within rent expense 32 ------ Total fixed charges $ 95 ====== Ratio of earnings to fixed charges 3.5
(1) "Interest expensed and capitalized" includes amortized premiums, discounts and capitalized expenses related to indebtedness.