Attached files
| file | filename |
|---|---|
| 10-Q - FORM 10-Q - Travel & Leisure Co. | y80209e10vq.htm |
| EX-32 - EX-32 - Travel & Leisure Co. | y80209exv32.htm |
| EX-15 - EX-15 - Travel & Leisure Co. | y80209exv15.htm |
| EX-10.1 - EX-10.1 - Travel & Leisure Co. | y80209exv10w1.htm |
| EX-31.2 - EX-31.2 - Travel & Leisure Co. | y80209exv31w2.htm |
| EX-31.1 - EX-31.1 - Travel & Leisure Co. | y80209exv31w1.htm |
Exhibit 12
WYNDHAM
WORLDWIDE CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions)
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. |
* * *