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Filing tables
Filing exhibits
- 10-K Annual report
- 10.2 EX-10.2: First Amendment to Employment Agreement
- 10.4 EX-10.4: First Amendment to Employment Agreement
- 10.5 EX-10.5: Employment Agreement
- 10.6 EX-10.6: First Amendment to Employment Agreement
- 10.8 EX-10.8: First Amendment to Employment Agreement
- 10.9 EX-10.9: Employment Agreement
- 10.10 EX-10.10: First Amendment to Employment Agreement
- 10.12 EX-10.12: Termination and Release Agreement
- 10.14 EX-10.14: Form of Award Agreement
- 10.15 EX-10.15: Form of Award Agreement
- 10.17 EX-10.17: First Amendment to Savings Restoration Plan
- 10.20 EX-10.20: Second Amendment to Non-employee Directors Deferred Compensation Plan
- 10.22 EX-10.22: First Amendment to Deferred Compensation Plan
- 12 EX-12: Computation of Ratio of Earnings to Fixed Charges
- 21.1 EX-21.1: Subsidiaries of the Registrant
- 23.1 EX-23.1: Consent of Independent Registered Public Accounting Firm
- 31.1 EX-31.1: Certification
- 31.2 EX-31.2: Certification
- 32 EX-32: Certification
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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)
Year Ended December 31, | ||||||||||||||||||||
2008 (a) | 2007 | 2006 | 2005 | 2004 | ||||||||||||||||
Earnings available to cover fixed charges: | ||||||||||||||||||||
Income/(loss) before income taxes and cumulative effect of accounting change | $ | (887 | ) | $ | 655 | $ | 542 | $ | 626 | $ | 587 | |||||||||
Plus: Fixed charges | 242 | 209 | 159 | 93 | 86 | |||||||||||||||
Amortization of capitalized interest | 22 | 18 | 8 | 5 | 6 | |||||||||||||||
Less: Capitalized interest | 19 | 23 | 16 | 7 | 5 | |||||||||||||||
Earnings available to cover fixed charges | $ | (642 | ) | $ | 859 | $ | 693 | $ | 717 | $ | 674 | |||||||||
Fixed charges (b): | ||||||||||||||||||||
Interest, including amortization of deferred financing costs | $ | 211 | $ | 183 | $ | 137 | $ | 75 | $ | 70 | ||||||||||
Interest portion of rental payments | 31 | 26 | 22 | 18 | 16 | |||||||||||||||
Total fixed charges | $ | 242 | $ | 209 | $ | 159 | $ | 93 | $ | 86 | ||||||||||
Ratio of earnings to fixed charges | — | 4.11x | 4.36x | 7.71x | 7.84x | |||||||||||||||
(a) | The Company was deficient to cover fixed charges by $884 million. | |
(b) | 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. |