EX-12 5 q12018ratioofearningstofc.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,
 
2018
 
2017
Earnings:
 
 
 
Income before income taxes
$
221

 
$
66

Equity in earnings from unconsolidated affiliates
(1
)
 
(1
)
 
220

 
65

Add:
 
 
 
Fixed charges
107

 
111

Distributed income of equity method investees
—

 
1

Earnings available for fixed charges
$
327

 
$
177

 
 
 
 
Fixed Charges:
 
 
 
Interest expense(1)
$
83

 
$
89

Estimated interest included in rent expense
24

 
22

Total Fixed Charges
$
107

 
$
111

 
 
 
 
Ratio of Earnings to Fixed Charges
3.1

 
1.6

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