EX-12 8 q12017computationofratioof.htm RATIO OF EARNINGS TO FIXED CHARGES Exhibit


Exhibit 12

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

 
Three Months Ended
 
March 31,
 
2017
 
2016
Earnings:
 
 
 
Income from continuing operations before income taxes
$
110

 
$
70

Equity in earnings from unconsolidated affiliates
(1
)
 
—

 
109

 
70

Add:
 
 
 
Fixed charges
126

 
113

Distributed income of equity method investees
1

 
—

Earnings available for fixed charges
$
236

 
$
183

 
 
 
 
Fixed Charges:
 
 
 
Interest expense(1)
$
104

 
$
90

Estimated interest included in rent expense
22

 
23

Total Fixed Charges
$
126

 
$
113

 
 
 
 
Ratio of Earnings to Fixed Charges
1.9

 
1.6

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