EX-12 5 dex12.htm EXHIBIT 12 Exhibit 12

Exhibit 12

MARRIOTT INTERNATIONAL, INC. (“Marriott”)

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

     Twenty-Four Weeks Ended  
($ in millions, except ratio)    June 19, 2009     June 13, 2008  

Income from continuing operations before income taxes

    $ 87      $ 486   

Losses (income) related to equity method investees

      38        (24 ) 
                
     125        462   

Add/(deduct):

     

Fixed charges

      124        152   

Interest capitalized

      (17 )      (24 ) 

Distributed income of equity method investees

      6        12   

Pretax losses attributable to noncontrolling interests

      7        3   
                

Earnings attributable to Marriott available for fixed charges

    $ 245      $ 605   
                

Fixed charges:

     

Interest expensed and capitalized (1) 

    $ 74      $ 104   

Estimate of interest within rent expense

      50        48   
                

Total fixed charges

    $ 124      $ 152   
                

Ratio of earnings attributable to Marriott to fixed charges

      2.0        4.0   

 

(1)

“Interest expensed and capitalized” includes amortized premiums, discounts, and capitalized expenses related to indebtedness.

Exhibit 12

 

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