Attached files
| file | filename |
|---|---|
| 10-Q - 10-Q - MARRIOTT INTERNATIONAL INC /MD/ | mar-q12016x10q.htm |
| EX-31.2 - CFO 302 CERTIFICATION - MARRIOTT INTERNATIONAL INC /MD/ | mar-q12016xexx312.htm |
| EX-32 - SECTION 906 CERTIFICATION - MARRIOTT INTERNATIONAL INC /MD/ | mar-q12016xexx32.htm |
| EX-31.1 - CEO 302 CERTIFICATION - MARRIOTT INTERNATIONAL INC /MD/ | mar-q12016xexx311.htm |
Exhibit 12
MARRIOTT INTERNATIONAL, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Three Months Ended | ||||||||
($ in millions, except ratio) | March 31, 2016 | March 31, 2015 | ||||||
Income before income taxes | $ | 326 | $ | 307 | ||||
Income related to equity method investees | — | (3 | ) | |||||
326 | 304 | |||||||
Add/(deduct): | ||||||||
Fixed charges | 60 | 57 | ||||||
Interest capitalized | — | (7 | ) | |||||
Distributed income of equity method investees | — | 1 | ||||||
Earnings available for fixed charges | $ | 386 | $ | 355 | ||||
Fixed charges: | ||||||||
Interest expensed and capitalized (1) | $ | 47 | $ | 43 | ||||
Estimate of interest within rent expense | 13 | 14 | ||||||
Total fixed charges | $ | 60 | $ | 57 | ||||
Ratio of earnings to fixed charges | 6.4 | 6.2 | ||||||
(1) | “Interest expensed and capitalized” includes amortized premiums, discounts, and capitalized expenses related to indebtedness. |
Exhibit 12