Marriott International (MAR) 10-Q 2007 Q3 Quarterly report

Exhibit 12

MARRIOTT INTERNATIONAL, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

	Thirty-Six Weeks Ended
($ in millions, except ratio)	September 7, 2007			September 8, 2006
Income from continuing operations before income taxes and minority interest(1)	$	627		$	714
Income related to equity method investees		(9	)		(2	)
		618			712
Add/(deduct):
Fixed charges		224			161
Interest capitalized		(31	)		(20	)
Distributed income of equity method investees		17			13
Minority interest in pre-tax loss		1			6
Earnings available for fixed charges	$	829		$	872
Fixed charges:
Interest expensed and capitalized(2)	$	158		$	106
Estimate of interest within rent expense		66			55
Total fixed charges	$	224		$	161
Ratio of earnings to fixed charges		3.7			5.4

⁽¹⁾ Reflected in income from continuing operations before income taxes and minority interest are the following items associated with the synthetic fuel operation: an operating loss of $98 million, net earn-out payments made of $31 million, and interest expense of $11 million for the thirty-six weeks ended September 7, 2007; and an operating loss of $43 million, net earn-out payments received of $2 million, and interest expense of $1 million for the thirty-six weeks ended September 8, 2006.

⁽²⁾ “Interest expensed and capitalized” includes amortized premiums, discounts, and capitalized expenses related to indebtedness.

Exhibit 12