Exhibit 12
MARRIOTT INTERNATIONAL, INC. (“Marriott”)
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
| Twenty-Four Weeks Ended | ||||||||
| ($ in millions, except ratio) | June 17, 2011 | June 18, 2010 | ||||||
Income before income taxes | $ | 353 | $ | 313 | ||||
Losses related to equity method investees | 4 | 15 | ||||||
| 357 | 328 | |||||||
Add/(deduct): | ||||||||
Fixed charges | 132 | 141 | ||||||
Interest capitalized | (10 | ) | (6 | ) | ||||
Distributed income of equity method investees | 2 | 2 | ||||||
Earnings available for fixed charges | $ | 481 | $ | 465 | ||||
Fixed charges: | ||||||||
Interest expensed and capitalized(1) | $ | 88 | $ | 95 | ||||
Estimate of interest within rent expense | 44 | 46 | ||||||
Total fixed charges | $ | 132 | $ | 141 | ||||
Ratio of earnings to fixed charges | 3.6 | 3.3 | ||||||
| (1) | “Interest expensed and capitalized” includes amortized premiums, discounts, and capitalized expenses related to indebtedness. |
Exhibit 12