Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - HOST HOTELS & RESORTS L.P. | d8k.htm |
| EX-99.1 - EXHIBIT 99.1 - HOST HOTELS & RESORTS L.P. | dex991.htm |
| EX-99.3 - EXHIBIT 99.3 - HOST HOTELS & RESORTS L.P. | dex993.htm |
| EX-99.4 - EXHIBIT 99.4 - HOST HOTELS & RESORTS L.P. | dex994.htm |
| EX-99.2 - EXHIBIT 99.2 - HOST HOTELS & RESORTS L.P. | dex992.htm |
EXHIBIT 12
HOST HOTELS & RESORTS, L.P. AND SUBSIDIARIES
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
AND PREFERRED UNIT DISTRIBUTIONS
(in millions, except ratio amounts)
| 2009 | 2008 | 2007 | 2006 | 2005 | ||||||||||||||||
| Income (loss) from operations before income taxes |
$ | (236 | ) | $ | 380 | $ | 536 | $ | 310 | $ | 135 | |||||||||
| Add (deduct): |
||||||||||||||||||||
| Fixed charges |
441 | 447 | 515 | 536 | 535 | |||||||||||||||
| Capitalized interest |
(5 | ) | (10 | ) | (10 | ) | (5 | ) | (5 | ) | ||||||||||
| Amortization of capitalized interest |
6 | 6 | 6 | 6 | 6 | |||||||||||||||
| Equity in (earnings)/losses related to certain 50% or less owned affiliates |
32 | 10 | (11 | ) | 6 | 1 | ||||||||||||||
| Distributions from equity investments |
1 | 3 | 4 | 3 | 2 | |||||||||||||||
| Distributions on preferred units |
(9 | ) | (9 | ) | (9 | ) | (14 | ) | (27 | ) | ||||||||||
| Issuance costs of redeemed preferred units |
— | — | — | (6 | ) | (4 | ) | |||||||||||||
| Adjusted earnings |
$ | 230 | $ | 827 | $ | 1,031 | $ | 836 | $ | 643 | ||||||||||
| Fixed charges: |
||||||||||||||||||||
| Interest on indebtedness and amortization of deferred financing costs |
$ | 379 | $ | 375 | $ | 444 | $ | 460 | $ | 453 | ||||||||||
| Capitalized interest |
5 | 10 | 10 | 5 | 5 | |||||||||||||||
| Distributions on preferred units |
9 | 9 | 9 | 14 | 27 | |||||||||||||||
| Issuance costs of redeemed preferred units |
— | — | — | 6 | 4 | |||||||||||||||
| Portion of rents representative of the interest factor |
48 | 53 | 52 | 51 | 46 | |||||||||||||||
| Total fixed charges and preferred unit distributions |
$ | 441 | $ | 447 | $ | 515 | $ | 536 | $ | 535 | ||||||||||
| Ratio of earnings to fixed charges and preferred unit distributions |
— | 1.9 | 2.0 | 1.6 | 1.2 | |||||||||||||||
| Deficiency of earnings to fixed charges and preferred unit distributions |
$ | (211 | ) | $ | — | $ | — | $ | — | $ | — | |||||||||
6