EX-12 2 dex12.htm EXHIBIT 12 Exhibit 12

Exhibit 12

MARRIOTT INTERNATIONAL, INC. (“Marriott”)

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

     Twenty-four Weeks Ended  
($ in millions, except ratio)    June 18, 2010     June 19, 2009  

Income before income taxes

    $ 313      $ 87   

Losses related to equity method investees

      15        38   
                
     328        125   

Add/(deduct):

     

Fixed charges

      141        124   

Interest capitalized

      (6 )      (17 ) 

Distributed income of equity method investees

      2        6   

Net losses attributable to noncontrolling interests

      0        7   
                

Earnings attributable to Marriott available for fixed charges

    $ 465      $ 245   
                

Fixed charges:

     

Interest expensed and capitalized (1) 

    $ 95      $ 74   

Estimate of interest within rent expense

      46        50   
                

Total fixed charges

    $ 141      $ 124   
                

Ratio of earnings attributable to Marriott to fixed charges

      3.3        2.0   

 

(1)

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

Exhibit 12