Exhibit 12
WYNDHAM WORLDWIDE CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions)
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions)
| Three Months Ended March 31, | ||||||||
| 2007 | 2006 | |||||||
Earnings available to cover fixed charges: | ||||||||
| Income before income taxes and cumulative effect of accounting change | $ | 139 | $ | 150 | ||||
| Plus: Fixed charges | 47 | 29 | ||||||
| Amortization of capitalized interest | 3 | 1 | ||||||
| Less: Capitalized interest | 6 | 2 | ||||||
| Earnings available to cover fixed charges | $ | 183 | $ | 178 | ||||
Fixed charges(*): | ||||||||
| Interest, including amortization of deferred financing costs | $ | 41 | $ | 24 | ||||
| Interest portion of rental payments | 6 | 5 | ||||||
| Total fixed charges | $ | 47 | $ | 29 | ||||
| Ratio of earnings to fixed charges | 3.89x | 6.14x | ||||||
| (*) | Consists of interest expense on all indebtedness (including amortization of deferred financing costs) and the portion of operating lease rental expense that is representative of the interest factor. |
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