EXHIBIT 12.1
PAGE 1 OF 1
HOST MARRIOTT CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(IN MILLION, EXCEPT RATIO AMOUNTS)
FISCAL YEAR
----------------------------
1996 1995 1994 1993 1992
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Income (loss) from operations before income
taxes............................................ $ (8) $(75) $(16) $(65) $(80)
Add (deduct)
Fixed charges.................................. 285 206 184 157 172
Capitalized interest........................... (3) (5) (10) (8) (11)
Amortization of capitalized interest........... 7 6 8 5 5
Net losses related to certain 50% or less owned
affiliate...................................... 1 2 5 22 19
Minority interest in consolidated affiliates... 6 2 1 1 1
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Adjusted earnings................................ $288 $136 $172 $112 $106
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Fixed charges:
Interest on indebtedness and amortization of
deferred financing costs....................... $239 $178 $165 $147 $161
Dividends on Convertible Preferred Securities
of subsidiary trust............................ 3 -- -- -- --
Portion of rents representative of the interest
factor......................................... 33 17 11 2 2
Debt service guarantee interest expense of
unconsolidated affiliates...................... 10 11 8 8 9
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Total fixed charges.............................. $285 $206 $184 $157 $172
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Ratio of earnings to fixed charges............... 1.01 .66 .93 .71 .62
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