Earnings Per Common Share (Unit) (Tables)

6 Months Ended

Jun. 15, 2012

HOST HOTELS & RESORTS, INC.

Earnings (Loss) Per Common Share (Unit)

The calculation of basic and diluted earnings per common share is shown below (in millions, except per share amounts):

	Quarter ended						Year-to-date ended
	June 15, 2012			June 17, 2011			June 15, 2012			June 17, 2011
Net income	$	83		$	64		$	83		$	4
Net income attributable to non-controlling interests		(1	)		(2	)		(3	)		(2	)
Earnings available to common stockholders		82			62			80			2
Assuming conversion of exchangeable senior debentures		1			—			—			—
Diluted earnings available to common stockholders	$	83		$	62		$	80		$	2

	Quarter ended				Year-to-date ended
	June 15, 2012		June 17, 2011		June 15, 2012		June 17, 2011
Basic weighted average shares outstanding		718.1		685.7		712.8		681.5
Assuming weighted average shares for conversion of exchangeable senior debentures		11.6		—		—		—
Assuming distribution of common shares granted under the comprehensive stock plans, less shares assumed purchased at market price		.9		1.4		1.0		1.5
Diluted weighted average shares outstanding (a)		730.6		687.1		713.8		683.0
Basic earnings per common share	$	.11	$	.09	$	.11	$	—
Diluted earnings per common share	$	.11	$	.09	$	.11	$	—

(a) There were approximately 29 million and 40 million for the quarter and year-to-date periods ended June 15, 2012, respectively, and 50 million for both the quarter and year-to-date periods ended June 17, 2011, potentially dilutive shares for our exchangeable senior debentures, which shares were not included in the computation of diluted EPS because to do so would have been anti-dilutive for the period.

HOST HOTELS & RESORTS L.P.

Earnings (Loss) Per Common Share (Unit)

The calculation of basic and diluted earnings per unit is shown below (in millions, except per unit amounts):

	Quarter ended					Year-to-date ended
	June 15, 2012		June 17, 2011			June 15, 2012			June 17, 2011
Net income	$	83	$	64		$	83		$	4
Net income attributable to non-controlling interests		—		(1	)		(2	)		(2	)
Earnings available to common unitholders		83		63			81			2
Assuming conversion of exchangeable senior debentures		1		—			—			—
Diluted earnings available to common unitholders	$	84	$	63		$	81		$	2

	Quarter ended				Year-to-date ended
	June 15, 2012		June 17, 2011		June 15, 2012		June 17, 2011
Basic weighted average units outstanding		713.1		682.0		708.1		677.8
Assuming weighted average units for conversion of exchangeable senior debentures		11.4		—		—		—
Assuming distribution of units to Host Inc. for shares granted under its comprehensive stock plans, less shares assumed purchased at market price		.9		1.3		1.0		1.4
Diluted weighted average units outstanding (a)		725.4		683.3		709.1		679.2
Basic earnings per common unit	$	.12	$	.09	$	.11	$	—
Diluted earnings per common unit	$	.12	$	.09	$	.11	$	—

(a) There were approximately 28 million and 39 million for the quarter and year-to-date periods ended June 15, 2012, respectively, and 49 million for both the quarter and year-to-date periods ended June 17, 2011, potentially dilutive units for our exchangeable senior debentures, which units were not included in the computation of diluted earnings per unit because to do so would have been anti-dilutive for the period.