Attached files
| file | filename |
|---|---|
| EXCEL - IDEA: XBRL DOCUMENT - MARRIOTT INTERNATIONAL INC /MD/ | Financial_Report.xls |
| 10-Q - 10-Q - MARRIOTT INTERNATIONAL INC /MD/ | mar-q32014x10q.htm |
| EX-31.1 - CEO 302 CERTIFICATION - MARRIOTT INTERNATIONAL INC /MD/ | mar-q32014xexx311.htm |
| EX-31.2 - CFO 302 CERTIFICATION - MARRIOTT INTERNATIONAL INC /MD/ | mar-q32014xexx312.htm |
| EX-10 - STOCK PLAN AMENDMENT - MARRIOTT INTERNATIONAL INC /MD/ | mar-q32014xexx10.htm |
| EX-32 - SECTION 906 CERTIFICATION - MARRIOTT INTERNATIONAL INC /MD/ | mar-q32014xexx32.htm |
Exhibit 12
MARRIOTT INTERNATIONAL, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Nine Months Ended | ||||||||
($ in millions, except ratio) | September 30, 2014 | September 30, 2013 | ||||||
Income before income taxes | $ | 806 | $ | 687 | ||||
(Income)/loss related to equity method investees | (6 | ) | 2 | |||||
800 | 689 | |||||||
Add/(deduct): | ||||||||
Fixed charges | 159 | 167 | ||||||
Interest capitalized | (25 | ) | (25 | ) | ||||
Distributed income of equity method investees | 4 | 6 | ||||||
Earnings available for fixed charges | $ | 938 | $ | 837 | ||||
Fixed charges: | ||||||||
Interest expensed and capitalized (1) | $ | 114 | $ | 113 | ||||
Estimate of interest within rent expense | 45 | 54 | ||||||
Total fixed charges | $ | 159 | $ | 167 | ||||
Ratio of earnings to fixed charges | 5.9 | 5.0 | ||||||
(1) | “Interest expensed and capitalized” includes amortized premiums, discounts, and capitalized expenses related to indebtedness. |
Exhibit 12