Marriott International (MAR) 10-Q 2010 Q3 Quarterly report

Exhibit 12

MARRIOTT INTERNATIONAL, INC. (“Marriott”)

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

	Thirty-Six Weeks Ended
($ in millions, except ratio)	September 10, 2010			September 11, 2009
Income (loss) before income taxes	$	441		$	(592	)
Losses related to equity method investees		20			50
		461			(542	)
Add/(deduct):
Fixed charges		210			182
Interest capitalized		(11	)		(24	)
Distributed income of equity method investees		3			6
Net losses attributable to noncontrolling interests		0			11
Earnings (losses) attributable to Marriott available for fixed charges	$	663		$	(367	)
Fixed charges:
Interest expensed and capitalized(1)	$	141		$	108
Estimate of interest within rent expense		69			74
Total fixed charges	$	210		$	182
Ratio of earnings (losses) attributable to Marriott to fixed charges(2)		3.2			—

⁽¹⁾ “Interest expensed and capitalized” includes amortized premiums, discounts, and capitalized expenses related to indebtedness.

⁽²⁾ For the thirty-six weeks ended September 11, 2009, earnings were inadequate to cover fixed charges by approximately $549 million.

Exhibit 12