Attached files
file | filename |
---|---|
10-K - FORM 10-K - Travel & Leisure Co. | y82651e10vk.htm |
EX-31.2 - EX-31.2 - Travel & Leisure Co. | y82651exv31w2.htm |
EX-10.10 - EX-10.10 - Travel & Leisure Co. | y82651exv10w10.htm |
EX-32 - EX-32 - Travel & Leisure Co. | y82651exv32.htm |
EX-23.1 - EX-23.1 - Travel & Leisure Co. | y82651exv23w1.htm |
EX-21.1 - EX-21.1 - Travel & Leisure Co. | y82651exv21w1.htm |
EX-31.1 - EX-31.1 - Travel & Leisure Co. | y82651exv31w1.htm |
EX-10.9 - EX-10.9 - Travel & Leisure Co. | y82651exv10w9.htm |
EX-10.3 - EX-10.3 - Travel & Leisure Co. | y82651exv10w3.htm |
EX-10.16 - EX-10.16 - Travel & Leisure Co. | y82651exv10w16.htm |
EX-10.7 - EX-10.7 - Travel & Leisure Co. | y82651exv10w7.htm |
EX-10.4 - EX-10.4 - Travel & Leisure Co. | y82651exv10w4.htm |
EX-10.17 - EX-10.17 - Travel & Leisure Co. | y82651exv10w17.htm |
EX-10.8 - EX-10.8 - Travel & Leisure Co. | y82651exv10w8.htm |
EX-10.14 - EX-10.14 - Travel & Leisure Co. | y82651exv10w14.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)
Year Ended December 31, | ||||||||||||||||||||
2009 | 2008 (a) | 2007 | 2006 | 2005 | ||||||||||||||||
Earnings available to cover fixed charges:
|
||||||||||||||||||||
Income/(loss) before income taxes and cumulative effect of
accounting change
|
$ | 493 | $ | (887 | ) | $ | 655 | $ | 542 | $ | 626 | |||||||||
Plus:Fixed charges
|
278 | 242 | 209 | 159 | 93 | |||||||||||||||
Amortization of capitalized interest
|
12 | 22 | 18 | 8 | 5 | |||||||||||||||
Less: Capitalized interest
|
10 | 19 | 23 | 16 | 7 | |||||||||||||||
Earnings available to cover fixed charges
|
$ | 773 | $ | (642 | ) | $ | 859 | $ | 693 | $ | 717 | |||||||||
Fixed
charges (b):
|
||||||||||||||||||||
Interest, including amortization of deferred financing costs
|
$ | 253 | $ | 211 | $ | 183 | $ | 137 | $ | 75 | ||||||||||
Interest portion of rental payments
|
25 | 31 | 26 | 22 | 18 | |||||||||||||||
Total fixed charges
|
$ | 278 | $ | 242 | $ | 209 | $ | 159 | $ | 93 | ||||||||||
Ratio of earnings to fixed charges
|
2.78x | | 4.11x | 4.36x | 7.71x | |||||||||||||||
(a) | The Company was deficient to cover fixed charges by $884 million. | |
(b) | Consists of interest expensed and capitalized on all indebtedness (including amortization of deferred financing costs) and the portion of operating lease rental expense that is representative of the interest factor. |