HILTON WORLDWIDE HOLDINGS INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions, except ratio amounts)
(unaudited)
|
| | | | | | | |
| | Six Months Ended |
| | June 30, |
| | 2016 | | 2015 |
| Earnings: | | | |
| Income before taxes | $ | 664 |
| | $ | 625 |
|
| Equity in earnings from unconsolidated affiliates | (11 | ) | | (13 | ) |
| | 653 |
| | 612 |
|
| Add: | | | |
| Fixed charges | 355 |
| | 361 |
|
| Distributed income of equity method investees | 11 |
| | 20 |
|
| Subtract: | | | |
| Interest capitalized | (2 | ) | | (2 | ) |
| Earnings available for fixed charges | $ | 1,017 |
| | $ | 991 |
|
| | | | |
| Fixed Charges: | | | |
Interest expense(1) | $ | 286 |
| | $ | 293 |
|
| Interest capitalized | 2 |
| | 2 |
|
| Estimated interest included in rent expense | 67 |
| | 66 |
|
| Total Fixed Charges | $ | 355 |
| | $ | 361 |
|
| | | | |
| Ratio of Earnings to Fixed Charges | 2.9 |
| | 2.7 |
|
____________
(1) Includes the amortization of debt discounts, premiums and capitalized expenses related to indebtedness.
