EX-12.2 9 p65494a1ex12-2.txt EX-12.2 1 EXHIBIT 12.2 STARWOOD HOTELS & RESORTS WORLDWIDE, INC. PROGRAM FOR ANNUAL CLOSING OF ACCOUNTS -------------------------------------------------------------------------------- EXHIBIT 12.2 STARWOOD HOTELS & RESORTS CALCULATION OF RATIO OF EARNINGS TO TOTAL FIXED CHARGES (DOLLARS IN MILLIONS)
PERIOD YEAR ENDED FROM FEB 23, SIX MONTHS DECEMBER 31, TO DECEMBER 31, ENDED JUNE 30, ------------------- --------------- ------------------- 2000 1999 1998 2001 2000 ---- ---- ---- ---- ---- Earnings: Income from continuing operations ............... 460 $423 $412 $207 227 Add: Adjustment for distributions in excess of equity earnings and losses (a) .......... 3 1 5 2 2 Provision for income taxes .................. 1 2 1 1 -- Minority equity in net income ............... 3 2 10 1 1 Amortization of interest capitalized ........ 1 -- -- -- -- ---- ---- ---- ---- ---- 468 428 428 211 230 ---- ---- ---- ---- ---- Fixed Charges: Interest and other financial charges ........ 39 47 26 19 19 Interest factor attributable to rentals (b) . -- -- -- -- -- ---- ---- ---- ---- ---- 39 47 26 19 19 ---- ---- ---- ---- ---- Earnings, as adjusted, from continuing operations 507 $475 $454 $230 $249 ==== ==== ==== ==== ==== Fixed Charges: Fixed charges above ......................... 39 $ 47 $ 26 19 19 Interest capitalized ........................ 2 7 7 1 1 ---- ---- ---- ---- ---- Total fixed charges ......................... 41 $ 54 $ 33 20 20 ==== ==== ==== ==== ==== Ratio: Earnings, as adjusted, from continuing operations to fixed charges ................ 12.37 8.80 13.76 11.50 12.45 ===== ==== ===== ===== =====
Notes: (a) The adjustment represents distributions in excess of undistributed earnings and losses of companies in which at least 20% but less than 50% equity is owned. (b) As the entities owned by the Trust only lease fixed assets, they do not enter into any operational leases.