EX-12.2 4 hst-ex122_15.htm EX-12.2 hst-ex122_15.htm

EXHIBIT 12.2

HOST HOTELS & RESORTS, L.P. AND SUBSIDIARIES

COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

AND PREFERRED UNIT DISTRIBUTIONS

(in millions, except ratio amounts)

 

  

 

2015

 

 

2014

 

 

2013

 

 

2012

 

 

2011

 

Income from continuing operations before income taxes

 

$

580

 

 

$

761

 

 

$

231

 

 

$

23

 

 

$

(28

)

Add (deduct):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

 

 

265

 

 

 

247

 

 

 

337

 

 

 

428

 

 

 

421

 

Capitalized interest

 

 

(5

)

 

 

(7

)

 

 

(6

)

 

 

(6

)

 

 

(4

)

Amortization of capitalized interest

 

 

7

 

 

 

10

 

 

 

6

 

 

 

7

 

 

 

7

 

Distributions from equity investments

 

 

17

 

 

 

—

 

 

 

—

 

 

 

3

 

 

 

—

 

Equity in (earnings) losses related to equity method

     investees

 

 

(70

)

 

 

(26

)

 

 

17

 

 

 

(2

)

 

 

(4

)

Adjusted earnings

 

$

794

 

 

$

985

 

 

$

585

 

 

$

453

 

 

$

392

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest on indebtedness and amortization of deferred

     financing costs

 

$

234

 

 

$

214

 

 

$

304

 

 

$

373

 

 

$

371

 

Capitalized interest

 

 

5

 

 

 

7

 

 

 

6

 

 

 

6

 

 

 

4

 

Portion of rents representative of the interest factor

 

 

26

 

 

 

26

 

 

 

27

 

 

 

49

 

 

 

46

 

Total fixed charges and preferred unit distributions

 

$

265

 

 

$

247

 

 

$

337

 

 

$

428

 

 

$

421

 

Ratio of earnings to fixed charges and preferred unit

     distributions

 

 

3.0

 

 

 

4.0

 

 

 

1.7

 

 

 

1.1

 

 

 

 

 

Deficiency of earnings to fixed charges and preferred unit

     distributions

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

$

(29

)