EXHIBIT 12
SODEXHO MARRIOTT SERVICES, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
($ in millions)
FISCAL YEAR 34 WEEKS FISCAL YEAR ENDED
-----------------------------------------
1999 AUGUST 28, 1998 1997 1996 1995 1994
-------------- ------------------- --------- ---------- --------- ----------
Income Before Extraordinary Item $ 51 $ 58 $335 $306 $247 $200
Add / (Deduct):
Tax and Extraordinary Item 41 42 219 196 165 142
Fixed Charges 88 65 179 142 107 84
Interest Capitalized as Property and Equipment -- -- (16) (9) (8) (4)
(Income) / Loss Related to certain 50%-or-Less-
Owned-Affiliates -- -- -- 1 -- (2)
-------------- ------------------- --------- ---------- --------- ----------
Earnings Available For Fixed Charges $180 $165 $717 $636 $511 $420
============== =================== ========= ========== ========= ==========
Fixed Charges:
Interest Including Amounts Capitalized as
Property and Equipment $ 88 $ 65 $126 $ 94 $ 61 $ 36
Portion of Rental Expense Representative of
Interest -- -- 53 48 45 45
Share of Interest Expense of certain 50%-or-Less-
Owned-Affiliates -- -- -- -- 1 3
-------------- ------------------- --------- ---------- --------- ----------
Total Fixed Charges $ 88 $ 65 $179 $142 $107 $ 84
============== =================== ========= ========== ========= ==========
Ratio of Earnings to Fixed Charges 2.0 2.5 4.0 4.5 4.8 5.0
============== =================== ========= ========== ========= ==========
<FN>
For the purpose of computing the ratio of earnings to fixed charges as prescribed by the rules and regulations of the Commission,
earnings represent income before cumulative effect of a change in accounting principle and extraordinary item, plus, when
applicable, (a) taxes on such income, (b) fixed charges, and (c) the Company's equity interest in losses of certain
50%-or-less-owned-affiliates; less (x) undistributed earnings of 50%-or-less-owned-affiliates, and (y) interest capitalized. Fixed
charges represent interest (including amounts capitalized), representative of interest, and when applicable, the Company's share of
the interest expense of certain 50%-or-less-owned-affiliates.
</FN>