EXHIBIT 12.2
HOST HOTELS & RESORTS, L.P. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
AND PREFERRED UNIT DISTRIBUTIONS
(in millions, except ratio amounts)
Year-to-date ended | ||||||||
June 17, 2011 | June 18, 2010 | |||||||
Loss from continuing operations before income taxes | $ | (5 | ) | $ | (78 | ) | ||
Add (deduct): | ||||||||
Fixed charges | 194 | 210 | ||||||
Capitalized interest | (1 | ) | (1 | ) | ||||
Amortization of capitalized interest | 3 | 3 | ||||||
Equity in (earnings)/losses related to certain 50% or less owned affiliates | (2 | ) | 5 | |||||
Distributions from equity investments | — | 2 | ||||||
Distribution on preferred units | — | (4 | ) | |||||
Issuance costs of redeemed preferred OP units | — | (4 | ) | |||||
Adjusted earnings | $ | 189 | $ | 133 | ||||
Fixed charges: | ||||||||
Interest on indebtedness and amortization of deferred financing costs | $ | 171 | $ | 179 | ||||
Capitalized interest | 1 | 1 | ||||||
Distribution on preferred units | — | 4 | ||||||
Issuance costs of redeemed preferred OP units | — | 4 | ||||||
Portion of rents representative of the interest factor | 22 | 22 | ||||||
Total fixed charges and preferred unit distributions | $ | 194 | $ | 210 | ||||
Deficiency of earnings to fixed charges and preferred unit distributions | $ | (5 | ) | $ | (77 | ) |