EX-12 2 q22016computationofratioof.htm RATIO OF EARNINGS TO FIXED CHARGES Exhibit


HILTON WORLDWIDE HOLDINGS INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions, except ratio amounts)
(unaudited)

 
Six Months Ended
 
June 30,
 
2016
 
2015
Earnings:
 
 
 
Income before taxes
$
664

 
$
625

Equity in earnings from unconsolidated affiliates
(11
)
 
(13
)
 
653

 
612

Add:
 
 
 
Fixed charges
355

 
361

Distributed income of equity method investees
11

 
20

Subtract:
 
 
 
Interest capitalized
(2
)
 
(2
)
Earnings available for fixed charges
$
1,017

 
$
991

 
 
 
 
Fixed Charges:
 
 
 
Interest expense(1)
$
286

 
$
293

Interest capitalized
2

 
2

Estimated interest included in rent expense
67

 
66

Total Fixed Charges
$
355

 
$
361

 
 
 
 
Ratio of Earnings to Fixed Charges
2.9

 
2.7

____________
(1)    Includes the amortization of debt discounts, premiums and capitalized expenses related to indebtedness.