EX-12 2 dex12.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit 12 MARRIOTT INTERNATIONAL, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES ($ in millions, except ratio) Twenty-four weeks ended June 15, 2001 ----------------- Income before income taxes $ 393 Loss/(income) related to equity method investees 2 ----------------- 395 Add/(deduct): Fixed charges 108 Interest capitalized (28) Distributed income of equity method investees 2 ----------------- Earnings available for fixed charges $ 477 ================= Fixed charges: Interest expensed and capitalized (1) $ 77 Estimate of the interest within rent expense 31 ----------------- Total fixed charges $ 108 ================= ----------------- Ratio of earnings to fixed charges 4.4 ================= (1) "Interest expensed and capitalized" includes amortized premiums, discounts and capitalized expenses related to indebtedness.