EX-12 2 dex12.htm EXHIBIT 12 Exhibit 12

Exhibit 12

MARRIOTT INTERNATIONAL, INC. (“Marriott”)

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

     Thirty-Six Weeks Ended  
($ in millions, except ratio)    September 11, 2009     September 5, 2008  

(Loss) income from continuing operations before income taxes

    $ (592 )    $ 673   

Losses (income) related to equity method investees

      50        (26 ) 
                
     (542 )      647   

Add/(deduct):

     

Fixed charges

      182        222   

Interest capitalized

      (24 )      (38 ) 

Distributed income of equity method investees

      6        21   

Pretax losses attributable to noncontrolling interests

      11        20   
                

(Losses) earnings attributable to Marriott available for fixed charges

    $ (367 )    $ 872   
                

Fixed charges:

     

Interest expensed and capitalized (1)

    $ 108      $ 151   

Estimate of interest within rent expense

      74        71   
                

Total fixed charges

    $ 182      $ 222   
                

Ratio of (losses) earnings attributable to Marriott to fixed charges

      (2.0 )      3.9   

 

(1)

“Interest expensed and capitalized” includes amortized premiums, discounts, and capitalized expenses related to indebtedness.

Exhibit 12

 

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