EX-12 4 q12016computationofratioof.htm RATIO OF EARNINGS TO FIXED CHARGES Exhibit


HILTON WORLDWIDE HOLDINGS INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions, except ratio amounts)
(unaudited)

 
Three Months Ended
 
March 31,
 
2016
 
2015
Earnings:
 
 
 
Income before taxes
$
264

 
$
313

Equity in earnings from unconsolidated affiliates
(3
)
 
(4
)
 
261

 
309

Add:
 
 
 
Fixed charges
169

 
175

Distributed income of equity method investees
5

 
12

Subtract:
 
 
 
Interest capitalized
(1
)
 
(1
)
Earnings available for fixed charges
$
434

 
$
495

 
 
 
 
Fixed Charges:
 
 
 
Interest expense(1)
$
139

 
$
144

Interest capitalized
1

 
1

Estimated interest included in rent expense
29

 
30

Total Fixed Charges
$
169

 
$
175

 
 
 
 
Ratio of Earnings to Fixed Charges
2.6

 
2.8

____________
(1)    Includes the amortization of debt discounts, premiums and capitalized expenses related to indebtedness.