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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, |
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|
| 2014 |
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| 2013 |
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Income from continuing operations before income taxes |
| $ | 355 |
|
| $ | 157 |
|
|
Add (deduct): |
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|
|
|
|
|
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Fixed charges |
|
| 130 |
|
|
| 195 |
|
|
Capitalized interest |
|
| (3 | ) |
|
| (3 | ) |
|
Amortization of capitalized interest |
|
| 6 |
|
|
| 3 |
|
|
Equity in (earnings) losses related to equity method investees |
|
| 3 |
|
|
| (4 | ) |
|
Adjusted earnings |
| $ | 491 |
|
| $ | 348 |
|
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Fixed charges: |
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Interest on indebtedness and amortization of deferred financing costs |
| $ | 113 |
|
| $ | 179 |
|
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Capitalized interest |
|
| 3 |
|
|
| 3 |
|
|
Portion of rents representative of the interest factor |
|
| 14 |
|
|
| 13 |
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Total fixed charges |
| $ | 130 |
|
| $ | 195 |
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|
Ratio of earnings to fixed charges |
|
| 3.8 |
|
|
| 1.8 |
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