Attached files
| file | filename |
|---|---|
| EX-31.2 - CFO 302 CERTIFICATION - MARRIOTT INTERNATIONAL INC /MD/ | mar-q22014xexx31210xqa.htm |
| EX-32 - SECTION 906 CERTIFICATION - MARRIOTT INTERNATIONAL INC /MD/ | mar-q22014xexx3210xqa.htm |
| EX-31.1 - CEO 302 CERTIFICATION - MARRIOTT INTERNATIONAL INC /MD/ | mar-q22014xexx31110xqa.htm |
| EXCEL - IDEA: XBRL DOCUMENT - MARRIOTT INTERNATIONAL INC /MD/ | Financial_Report.xls |
| 10-Q/A - 10-Q/A - MARRIOTT INTERNATIONAL INC /MD/ | mar-q22014x10qa.htm |
Exhibit 12
MARRIOTT INTERNATIONAL, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Six Months Ended | ||||||||
($ in millions, except ratio) | June 30, 2014 | June 30, 2013 | ||||||
Income before income taxes | $ | 516 | $ | 464 | ||||
Losses related to equity method investees | 6 | 2 | ||||||
522 | 466 | |||||||
Add/(deduct): | ||||||||
Fixed charges | 105 | 113 | ||||||
Interest capitalized | (15 | ) | (17 | ) | ||||
Distributed income of equity method investees | 2 | 4 | ||||||
Earnings available for fixed charges | $ | 614 | $ | 566 | ||||
Fixed charges: | ||||||||
Interest expensed and capitalized (1) | $ | 75 | $ | 77 | ||||
Estimate of interest within rent expense | 30 | 36 | ||||||
Total fixed charges | $ | 105 | $ | 113 | ||||
Ratio of earnings to fixed charges | 5.8 | 5.0 | ||||||
(1) | “Interest expensed and capitalized” includes amortized premiums, discounts, and capitalized expenses related to indebtedness. |
Exhibit 12