Exhibit 12.1
HYATT HOTELS CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions)
For the Three Months Ended March 31, | ||||||||
2013 | 2012 | |||||||
Earnings: | ||||||||
Pretax income (loss) from continuing operations before adjustment for income or loss from equity investees | $ | 4 | $ | 15 | ||||
Fixed charges | 23 | 22 | ||||||
Distributed income of equity method investees | 3 | 4 | ||||||
Subtract: Interest capitalized net of amortization | 1 | — | ||||||
Subtract: Non-controlling interest loss with no fixed charges | — | — | ||||||
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Total Earnings | $ | 29 | $ | 41 | ||||
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Fixed Charges: | ||||||||
Interest expense | $ | 19 | $ | 18 | ||||
Interest within rent expense | 4 | 4 | ||||||
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Total Fixed Charges | $ | 23 | $ | 22 | ||||
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Ratio of Earnings to Fixed Charges(1) | 1.3x | 1.9x |
(1) | For purposes of calculating the ratio of earnings to fixed charges, earnings represents pre-tax earnings or (losses) before adjustments for income or loss from equity investees; and fixed charges include: interest (expensed and capitalized), amortized premiums, discounts and capitalized expenses related to indebtedness and the interest portion of rent expense that is deemed to be representative of the interest factor. |