Attached files

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10-Q - FORM 10-Q - Wyndham Destinations, Inc.y80209e10vq.htm
EX-32 - EX-32 - Wyndham Destinations, Inc.y80209exv32.htm
EX-15 - EX-15 - Wyndham Destinations, Inc.y80209exv15.htm
EX-10.1 - EX-10.1 - Wyndham Destinations, Inc.y80209exv10w1.htm
EX-31.2 - EX-31.2 - Wyndham Destinations, Inc.y80209exv31w2.htm
EX-31.1 - EX-31.1 - Wyndham Destinations, Inc.y80209exv31w1.htm
Exhibit 12
 
WYNDHAM WORLDWIDE CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions)
 
                 
    Nine Months
 
    Ended September 30,  
    2009     2008  
 
Earnings available to cover fixed charges:
               
Income before income taxes
  $ 375     $ 457  
Plus: Fixed charges
    200       175  
 Amortization of capitalized interest
    10       16  
Less: Capitalized interest
    8       15  
                 
Earnings available to cover fixed charges
  $ 577     $ 633  
                 
Fixed charges (*):
               
Interest, including amortization of deferred financing costs
  $ 181     $ 152  
Interest portion of rental expense
    19       23  
                 
Total fixed charges
  $ 200     $ 175  
                 
Ratio of earnings to fixed charges
    2.89x       3.62x  
                 
 
 
(*) Consists of interest expense on all indebtedness (including amortization of deferred financing costs) and the portion of operating lease rental expense that is representative of the interest factor.
 
* * *