Attached files
file | filename |
---|---|
10-K - FORM 10-K - HOST HOTELS & RESORTS L.P. | d10k.htm |
EX-10.30 - EXHIBIT 10.30 - HOST HOTELS & RESORTS L.P. | dex1030.htm |
EX-32 - EXHIBIT 32 - HOST HOTELS & RESORTS L.P. | dex32.htm |
EX-21 - EXHIBIT 21 - HOST HOTELS & RESORTS L.P. | dex21.htm |
EX-31.2 - EXHIBIT 31.2 - HOST HOTELS & RESORTS L.P. | dex312.htm |
EX-31.1 - EXHIBIT 31.1 - HOST HOTELS & RESORTS L.P. | dex311.htm |
EXHIBIT 12
HOST HOTELS & RESORTS, L.P. AND SUBSIDIARIES
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
AND PREFERRED UNIT DISTRIBUTIONS
(in millions, except ratio amounts)
2009 | 2008 | 2007 | 2006 | 2005 | ||||||||||||||||
Income (loss) from operations before income taxes |
$ | (287 | ) | $ | 377 | $ | 535 | $ | 308 | $ | 134 | |||||||||
Add (deduct): |
||||||||||||||||||||
Fixed charges |
441 | 447 | 515 | 536 | 535 | |||||||||||||||
Capitalized interest |
(5 | ) | (10 | ) | (10 | ) | (5 | ) | (5 | ) | ||||||||||
Amortization of capitalized interest |
6 | 6 | 6 | 6 | 6 | |||||||||||||||
Net (earnings)/losses related to certain 50% or less owned affiliates |
32 | 10 | (11 | ) | 6 | 1 | ||||||||||||||
Distributions from equity investments |
1 | 3 | 4 | 3 | 2 | |||||||||||||||
Dividends on preferred units |
(9 | ) | (9 | ) | (9 | ) | (14 | ) | (27 | ) | ||||||||||
Issuance costs of redeemed preferred units |
| | | (6 | ) | (4 | ) | |||||||||||||
Adjusted earnings |
$ | 179 | $ | 824 | $ | 1,030 | $ | 834 | $ | 642 | ||||||||||
Fixed charges: |
||||||||||||||||||||
Interest on indebtedness and amortization of deferred financing costs |
$ | 379 | $ | 375 | $ | 444 | $ | 460 | $ | 453 | ||||||||||
Capitalized interest |
5 | 10 | 10 | 5 | 5 | |||||||||||||||
Dividends on preferred units |
9 | 9 | 9 | 14 | 27 | |||||||||||||||
Issuance costs of redeemed preferred units |
| | | 6 | 4 | |||||||||||||||
Portion of rents representative of the interest factor |
48 | 53 | 52 | 51 | 46 | |||||||||||||||
Total fixed charges and preferred unit distributions |
$ | 441 | $ | 447 | $ | 515 | $ | 536 | $ | 535 | ||||||||||
Ratio of earnings to fixed charges and preferred unit distributions |
1.8 | 2.0 | 1.6 | 1.2 | ||||||||||||||||
Deficiency of earnings to fixed charges and preferred unit distributions |
$ | (262 | ) | $ | | $ | | $ | | $ | |