Exhibit 12
MARRIOTT INTERNATIONAL, INC. (“Marriott”)
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
| Twenty-four Weeks Ended | ||||||||
| ($ in millions, except ratio) | June 18, 2010 | June 19, 2009 | ||||||
Income before income taxes | $ | 313 | $ | 87 | ||||
Losses related to equity method investees | 15 | 38 | ||||||
| 328 | 125 | |||||||
Add/(deduct): | ||||||||
Fixed charges | 141 | 124 | ||||||
Interest capitalized | (6 | ) | (17 | ) | ||||
Distributed income of equity method investees | 2 | 6 | ||||||
Net losses attributable to noncontrolling interests | 0 | 7 | ||||||
Earnings attributable to Marriott available for fixed charges | $ | 465 | $ | 245 | ||||
Fixed charges: | ||||||||
Interest expensed and capitalized(1) | $ | 95 | $ | 74 | ||||
Estimate of interest within rent expense | 46 | 50 | ||||||
Total fixed charges | $ | 141 | $ | 124 | ||||
Ratio of earnings attributable to Marriott to fixed charges | 3.3 | 2.0 | ||||||
| (1) | “Interest expensed and capitalized” includes amortized premiums, discounts, and capitalized expenses related to indebtedness. |
Exhibit 12