EX-12 2 q22018ratioofearningstofc.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)

 
Six Months Ended
 
June 30,
 
2018
 
2017
Earnings:
 
 
 
Income before income taxes
$
519

 
$
316

Equity in earnings from unconsolidated affiliates
—

 
(1
)
 
519

 
315

Add:
 
 
 
Fixed charges
233

 
229

Distributed income of equity method investees
4

 
3

Subtract:
 
 
 
Interest capitalized
(1
)
 
—

Earnings available for fixed charges
$
755

 
$
547

 
 
 
 
Fixed Charges:
 
 
 
Interest expense(1)
$
178

 
$
175

Interest capitalized
1

 
—

Estimated interest included in rent expense
54

 
54

Total Fixed Charges
$
233

 
$
229

 
 
 
 
Ratio of Earnings to Fixed Charges
3.2

 
2.4

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