Exhibit 12
LA QUINTA INNS, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands, except ratios)
Years Ended December 31
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1997 1996 1995 1994 1993
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Earnings before income taxes, extraordinary
items and cumulative effect of accounting
change (1) ....................................... $ 137,489 $ 96,379 $ 82,994 $ 61,991 $ 31,836
Partners' equity in earnings ....................... 860 1,499 10,227 11,406 12,965
Partners' equity in earnings of combined
unincorporated ventures that do not have
fixed charges .................................... -- (770) (1,854) (1,577) (1,652)
Fixed charges ...................................... 61,038 48,983 42,797 40,814 32,477
Interest capitalized ............................... (9,645) (5,429) (1,313) (889) --
Amortization of capitalized
interest ......................................... 1,035 893 803 772 799
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Earnings as adjusted .......................... $ 190,777 $ 141,555 $ 133,654 $ 112,517 $ 76,425
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Fixed charges:
Interest on long-term debt .................... $ 59,793 $ 47,897 $ 41,734 $ 39,749 $ 31,366
Portion of rental expense allocated to
interest ..................................... 1,245 1,086 1,063 1,065 1,111
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Total fixed charges ........................ $ 61,038 $ 48,983 $ 42,797 $ 40,814 $ 32,477
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Ratio of earnings to fixed charges ................ 3.1x 2.9x 3.1x 2.8x 2.4x
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(1) The Years Ended December 31, 1996 and 1995 include a non-cash provision for
premature retirement of assets totaling $18,076 and $12,630, respectively.