Host Hotels & Resorts 10-Q 2016 Q2 Quarterly report

Exhibit 12.1

HOST HOTELS & RESORTS, INC. AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(in millions, except ratio amounts)

	Year-to-date ended June 30,
	2016			2015
Income from continuing operations before income taxes	$	558		$	317
Add (deduct):
Fixed charges		93			136
Capitalized interest		(2	)		(2	)
Amortization of capitalized interest		4			4
Equity in earnings related to equity method investees		(11	)		(26	)
Distributions from equity investments		18			11
Adjusted earnings	$	660		$	440
Fixed charges:
Interest on indebtedness and amortization of deferred financing costs		78			121
Capitalized interest		2			2
Portion of rents representative of the interest factor		13			13
Total fixed charges	$	93		$	136
Ratio of earnings to fixed charges		7.1			3.2