Host Hotels & Resorts (HST) 10-Q 2017 Q2 Quarterly report

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,
	2017			2016
Income from continuing operations before income taxes	$	394		$	558
Add (deduct):
Fixed charges		96			93
Capitalized interest		—			(2	)
Amortization of capitalized interest		4			4
Equity in earnings related to equity method investees		(15	)		(11	)
Distributions from investments in affiliates		13			18
Adjusted earnings	$	492		$	660
Fixed charges:
Interest on indebtedness and amortization of deferred financing costs	$	82		$	78
Capitalized interest		—			2
Portion of rents representative of the interest factor		14			13
Total fixed charges	$	96		$	93
Ratio of earnings to fixed charges		5.1			7.1