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Exhibit 12
MARRIOTT INTERNATIONAL, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Twenty-Four Weeks Ended | ||||||||
($ in millions, except ratio) | June 13, 2008 | June 15, 2007 | ||||||
Income from continuing operations before income taxes and minority interest | $ | 486 | $ | 553 | ||||
Income related to equity method investees | (24 | ) | (1 | ) | ||||
462 | 552 | |||||||
Add/(deduct): | ||||||||
Fixed charges | 152 | 149 | ||||||
Interest capitalized | (24 | ) | (20 | ) | ||||
Distributed income of equity method investees | 12 | 11 | ||||||
Minority interest | 3 | — | ||||||
Earnings available for fixed charges | $ | 605 | $ | 692 | ||||
Fixed charges: | ||||||||
Interest expensed and capitalized(1) | $ | 104 | $ | 105 | ||||
Estimate of interest within rent expense | 48 | 44 | ||||||
Total fixed charges | $ | 152 | $ | 149 | ||||
Ratio of earnings to fixed charges | 4.0 | 4.6 |
(1) | “Interest expensed and capitalized” includes amortized premiums, discounts, and capitalized expenses related to indebtedness. |
Exhibit 12
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