EX-12 2 q32017computationofratioof.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)

 
Nine Months Ended
 
September 30,
 
2017
 
2016
Earnings:
 
 
 
Income from continuing operations before income taxes
$
674

 
$
391

Equity in earnings from unconsolidated affiliates
(2
)
 
(3
)
 
672

 
388

Add:
 
 
 
Fixed charges
392

 
368

Distributed income of equity method investees
1

 
2

Subtract:
 
 
 
Interest capitalized
(1
)
 
(1
)
Earnings available for fixed charges
$
1,064

 
$
757

 
 
 
 
Fixed Charges:
 
 
 
Interest expense(1)
$
304

 
$
286

Interest capitalized
1

 
1

Estimated interest included in rent expense
87

 
81

Total Fixed Charges
$
392

 
$
368

 
 
 
 
Ratio of Earnings to Fixed Charges
2.7

 
2.1

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