Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - HOST HOTELS & RESORTS, INC. | d8k.htm |
| EX-23.1 - EXHIBIT 23.1 - HOST HOTELS & RESORTS, INC. | dex231.htm |
| EX-99.3 - EXHIBIT 99.3 - HOST HOTELS & RESORTS, INC. | dex993.htm |
| EX-99.2 - EXHIBIT 99.2 - HOST HOTELS & RESORTS, INC. | dex992.htm |
| EX-99.4 - EXHIBIT 99.4 - HOST HOTELS & RESORTS, INC. | dex994.htm |
| EX-99.1 - EXHIBIT 99.1 - HOST HOTELS & RESORTS, INC. | dex991.htm |
EXHIBIT 12
HOST HOTELS & RESORTS, INC. AND SUBSIDIARIES
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS
(in millions, except ratio amounts)
| 2008 | 2007 | 2006 | 2005 | 2004 | ||||||||||||||||
| Income (loss) from operations before income taxes |
$ | 370 | $ | 535 | $ | 308 | $ | 132 | $ | (112 | ) | |||||||||
| Add (deduct): |
||||||||||||||||||||
| Fixed charges |
447 | 515 | 536 | 534 | 580 | |||||||||||||||
| Capitalized interest |
(10 | ) | (10 | ) | (5 | ) | (5 | ) | (3 | ) | ||||||||||
| Amortization of capitalized interest |
6 | 6 | 6 | 6 | 6 | |||||||||||||||
| Net (earnings)/losses related to certain 50% or less owned affiliates |
10 | (11 | ) | 6 | 1 | 16 | ||||||||||||||
| Distributions from equity investments |
3 | 4 | 3 | 2 | 6 | |||||||||||||||
| Dividends on preferred stock |
(9 | ) | (9 | ) | (14 | ) | (27 | ) | (37 | ) | ||||||||||
| Issuance costs of redeemed preferred stock |
— | — | (6 | ) | (4 | ) | (4 | ) | ||||||||||||
| Adjusted earnings |
$ | 817 | $ | 1,030 | $ | 834 | $ | 639 | $ | 452 | ||||||||||
| Fixed charges: |
||||||||||||||||||||
| Interest on indebtedness and amortization of deferred financing costs |
$ | 375 | $ | 444 | $ | 460 | $ | 452 | $ | 489 | ||||||||||
| Capitalized interest |
10 | 10 | 5 | 5 | 3 | |||||||||||||||
| Dividends on preferred stock |
9 | 9 | 14 | 27 | 37 | |||||||||||||||
| Issuance costs of redeemed preferred stock |
— | — | 6 | 4 | 4 | |||||||||||||||
| Portion of rents representative of the interest factor |
53 | 52 | 51 | 46 | 47 | |||||||||||||||
| Total fixed charges and preferred stock dividends |
$ | 447 | $ | 515 | $ | 536 | $ | 534 | $ | 580 | ||||||||||
| Ratio of earnings to fixed charges and preferred stock dividends |
1.8 | 2.0 | 1.6 | 1.2 | — | |||||||||||||||
| Deficiency of earnings to fixed charges and preferred stock dividends |
$ | — | $ | — | $ | — | $ | — | $ | (128 | ) | |||||||||
6