EX-12 7 ye2017ratioofearningstofc.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)

 
Year Ended
 
December 31,
 
2017
 
2016
Earnings:
 
 
 
Income from continuing operations before income taxes
$
930

 
$
556

Equity in earnings from unconsolidated affiliates
(2
)
 
(5
)
 
928

 
551

Add:
 
 
 
Fixed charges
504

 
502

Distributed income of equity method investees
1

 
2

Subtract:
 
 
 
Interest capitalized
(1
)
 
(1
)
Earnings available for fixed charges
$
1,432

 
$
1,054

 
 
 
 
Fixed Charges:
 
 
 
Interest expense(1)
$
408

 
$
394

Interest capitalized
1

 
1

Estimated interest included in rent expense
95

 
107

Total Fixed Charges
$
504

 
$
502

 
 
 
 
Ratio of Earnings to Fixed Charges
2.8

 
2.1

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