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 | ||||||||
September 9, 2011 | September 10, 2010 | |||||||
Loss from continuing operations before income taxes | $ | (37 | ) | $ | (145 | ) | ||
Add (deduct): | ||||||||
Fixed charges | 295 | 311 | ||||||
Capitalized interest | (2 | ) | (2 | ) | ||||
Amortization of capitalized interest | 5 | 5 | ||||||
Equity in (earnings)/losses related to certain 50% or less owned affiliates | 3 | 5 | ||||||
Distributions from equity investments | — | 2 | ||||||
Distribution on preferred units | — | (4 | ) | |||||
Issuance costs of redeemed preferred OP units | — | (4 | ) | |||||
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Adjusted earnings | $ | 264 | $ | 168 | ||||
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Fixed charges: | ||||||||
Interest on indebtedness and amortization of deferred financing costs | $ | 259 | $ | 268 | ||||
Capitalized interest | 2 | 2 | ||||||
Distribution on preferred units | — | 4 | ||||||
Issuance costs of redeemed preferred OP units | — | 4 | ||||||
Portion of rents representative of the interest factor | 34 | 33 | ||||||
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Total fixed charges and preferred unit distributions | $ | 295 | $ | 311 | ||||
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Deficiency of earnings to fixed charges and preferred unit distributions | $ | (31 | ) | $ | (143 | ) |