EXHIBIT 12.2
HOST MARRIOTT CORPORATION AND SUBSIDIARIES
COMPUTATIONS OF RATIO OF EARNINGS TO FIXED CHARGES
FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(IN MILLIONS, EXCEPT RATIO AMOUNTS)
1st Quarter Fiscal Year
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1998 1997 1997 1996 1995 1994 1993
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Income (loss from continuing operations before income taxes..... $ 52 $ 11 $ 83 $ (8) $ (75) $ (16) $ (65)
Add (deduct)
Fixed charges................................................ 100 81 378 285 206 184 157
Capitalized interest......................................... -- (1) (1) (3) (5) (10) (8)
Amortization of capitalized interest......................... 1 1 5 7 6 8 5
Net losses related to certain 50% or less owned affiliate.... -- -- (1) 1 2 5 22
Minority interest in consolidated affiliates................. 16 11 32 6 2 1 1
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Adjusted earnings............................................... $169 $103 $496 $288 $136 $172 $112
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Fixed charges:
Interest on indebtedness and amortization of deferred
financing costs............................................. $ 82 $ 63 $302 $239 $178 $165 $147
Dividends on Convertible Preferred Securities of Subsidiary
Trust....................................................... 9 9 37 3 -- -- --
Portion of rents representative of the interest factor....... 9 9 39 33 17 11 2
Debt service guarantee interest expense of unconsolidated
affiliates.................................................. -- -- -- 10 11 8 8
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Total fixed charges............................................. $100 $ 81 $378 $285 $206 $184 $157
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Ratio of earnings to fixed charges and preferred stock
dividends...................................................... 1.69x 1.27x 1.31x 1.01x -- -- --
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Deficiency of earnings to fixed charges and preferred stock
dividends...................................................... -- -- -- -- $ 70 $ 12 $ 45
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