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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 September 30, |
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|
| 2014 |
|
| 2013 |
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Income from continuing operations before income taxes |
| $ | 506 |
|
| $ | 171 |
|
|
Add (deduct): |
|
|
|
|
|
|
|
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Fixed charges |
|
| 189 |
|
|
| 269 |
|
|
Capitalized interest |
|
| (5 | ) |
|
| (5 | ) |
|
Amortization of capitalized interest |
|
| 8 |
|
|
| 5 |
|
|
Equity in (earnings) losses related to equity method investees |
|
| 4 |
|
|
| (3 | ) |
|
Adjusted earnings |
| $ | 702 |
|
| $ | 437 |
|
|
Fixed charges: |
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Interest on indebtedness and amortization of deferred financing costs |
| $ | 164 |
|
| $ | 244 |
|
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Capitalized interest |
|
| 5 |
|
|
| 5 |
|
|
Portion of rents representative of the interest factor |
|
| 20 |
|
|
| 20 |
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Total fixed charges |
| $ | 189 |
|
| $ | 269 |
|
|
Ratio of earnings to fixed charges |
|
| 3.7 |
|
|
| 1.6 |
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