Host Hotels & Resorts (HST) 10-Q 2012 Q2 Quarterly report

EXHIBIT 12.1

HOST HOTELS & RESORTS, INC. AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

AND PREFERRED STOCK DIVIDENDS

(in millions, except ratio amounts)

	Year-to-date ended
	June 15, 2012			June 17, 2011
Income (loss) from continuing operations before income taxes	$	32		$	(6	)
Add (deduct):
Fixed charges		203			194
Capitalized interest		(2	)		(1	)
Amortization of capitalized interest		3			3
Equity in losses related to certain 50% or less owned affiliates		(3	)		(2	)
Adjusted earnings	$	233		$	188
Fixed charges:
Interest on indebtedness and amortization of deferred financing costs	$	180		$	171
Capitalized interest		2			1
Portion of rents representative of the interest factor		21			22
Total fixed charges and preferred stock dividends	$	203		$	194
Ratio of earnings to fixed charges and preferred stock dividends		1.1			—
Deficiency of earnings to fixed charges and preferred stock dividends	$	—		$	(6	)