Attached files
| file | filename |
|---|---|
| EX-31.2 - CFO 302 CERTIFICATION - MARRIOTT INTERNATIONAL INC /MD/ | mar-q12017xexx312.htm |
| 10-Q - 10-Q - MARRIOTT INTERNATIONAL INC /MD/ | mar-q12017x10q.htm |
| EX-32 - SECTION 906 CERTIFICATION - MARRIOTT INTERNATIONAL INC /MD/ | mar-q12017xexx32.htm |
| EX-31.1 - CEO 302 CERTIFICATION - MARRIOTT INTERNATIONAL INC /MD/ | mar-q12017xexx311.htm |
Exhibit 12
MARRIOTT INTERNATIONAL, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Three Months Ended | ||||||||
($ in millions, except ratio) | March 31, 2017 | March 31, 2016 | ||||||
Income before income taxes | $ | 485 | $ | 326 | ||||
Income related to equity method investees | (11 | ) | — | |||||
474 | 326 | |||||||
Add/(deduct): | ||||||||
Fixed charges | 88 | 60 | ||||||
Interest capitalized | — | — | ||||||
Distributed income of equity method investees | 9 | — | ||||||
Earnings available for fixed charges | $ | 571 | $ | 386 | ||||
Fixed charges: | ||||||||
Interest expensed and capitalized (1) | $ | 70 | $ | 47 | ||||
Estimate of interest within rent expense | 18 | 13 | ||||||
Total fixed charges | $ | 88 | $ | 60 | ||||
Ratio of earnings to fixed charges | 6.5 | 6.4 | ||||||
(1) | “Interest expensed and capitalized” includes amortized premiums, discounts, and capitalized expenses related to indebtedness. |
Exhibit 12