EX-12.1 3 hst-ex121_15.htm EX-12.1 hst-ex121_15.htm

EXHIBIT 12.1

HOST HOTELS & RESORTS, INC. AND SUBSIDIARIES

COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

(in millions, except ratio amounts)

 

  

 

2017

 

 

2016

 

 

2015

 

 

2014

 

 

2013

 

Income from continuing operations before income taxes

 

$

651

 

 

$

811

 

 

$

574

 

 

$

755

 

 

$

227

 

Add (deduct):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

 

 

196

 

 

 

184

 

 

 

258

 

 

 

240

 

 

 

329

 

Capitalized interest

 

 

(1

)

 

 

(3

)

 

 

(5

)

 

 

(7

)

 

 

(6

)

Amortization of capitalized interest

 

 

8

 

 

 

7

 

 

 

7

 

 

 

10

 

 

 

6

 

Equity in (earnings) losses related to equity method investees

 

 

(30

)

 

 

(21

)

 

 

(76

)

 

 

(29

)

 

 

14

 

Distributions from equity investments

 

 

40

 

 

 

29

 

 

 

27

 

 

 

7

 

 

 

6

 

Adjusted earnings

 

$

864

 

 

$

1,007

 

 

$

785

 

 

$

976

 

 

$

576

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest on indebtedness and amortization of

      deferred financing costs

 

$

167

 

 

$

154

 

 

$

227

 

 

 

207

 

 

 

296

 

Capitalized interest

 

 

1

 

 

 

3

 

 

 

5

 

 

 

7

 

 

 

6

 

Portion of rents representative of the interest factor

 

 

28

 

 

 

27

 

 

 

26

 

 

 

26

 

 

 

27

 

Total fixed charges

 

$

196

 

 

$

184

 

 

$

258

 

 

$

240

 

 

$

329

 

Ratio of earnings to fixed charges

 

 

4.4

 

 

 

5.5

 

 

 

3.0

 

 

 

4.1

 

 

 

1.8