1 Exhibit 12 LA QUINTA INNS, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (in thousands, except ratios) Six Months Ended June 30 Years Ended December 31 ---------------------- ------------------------------------------------------------- 1996 1995 1995 1994 1993 1992 1991 --------- --------- --------- --------- --------- --------- --------- Earnings (loss) before income taxes, extraordinary items and cumulative effect of accounting change (1) ........ $ 49,245 $ 44,848 $ 82,994 $ 61,991 $ 31,836 $ (7,270) $ 2,185 Partners' equity in earnings .... 928 8,976 10,227 11,406 12,965 15,081 9,421 Partners' equity in earnings of combined unincorporated ventures that do not have fixed charges ................ (563) (995) (1,854) (1,577) (1,652) (1,504) (845) Fixed charges ................... 23,469 21,274 42,797 40,814 32,477 34,270 40,012 Interest capitalized ............ (2,227) (388) (1,313) (889) -- (50) -- Amortization of capitalized interest ..................... 422 399 803 772 799 799 1,064 --------- --------- --------- --------- --------- --------- --------- Earnings as adjusted ........ $ 71,274 $ 74,114 $ 133,654 $ 112,517 $ 76,425 $ 41,326 $ 51,837 ========= ========= ========= ========= ========= ========= ========= Fixed charges: Interest on long-term debt (before capitalized interest) .................. $ 22,951 $ 20,771 $ 41,734 $ 39,749 $ 31,366 $ 33,137 $ 38,713 Portion of rental expense allocated to interest ...... 518 503 1,063 1,065 1,111 1,133 1,299 --------- --------- --------- --------- --------- --------- --------- Total fixed charges ....... $ 23,469 $ 21,274 $ 42,797 $ 40,814 $ 32,477 $ 34,270 $ 40,012 ========= ========= ========= ========= ========= ========= ========= Ratio of earnings to fixed charges ...................... 3.0x 3.5x 3.1x 2.8x 2.4x 1.2x 1.3x ========= ========= ========= ========= ========= ========= ========= (1) The Six Months Ended June 30, 1996 and Year Ended December 31, 1995, include a non-cash provision for premature retirement of assets totaling $9,062 and $12,630, respectively.