Attached files
| file | filename |
|---|---|
| EXCEL - IDEA: XBRL DOCUMENT - MARRIOTT INTERNATIONAL INC /MD/ | Financial_Report.xls |
| 10-Q - 10-Q - MARRIOTT INTERNATIONAL INC /MD/ | mar-q12015x10q.htm |
| EX-32 - SECTION 906 CERTIFICATION - MARRIOTT INTERNATIONAL INC /MD/ | mar-q12015xexx32.htm |
| EX-31.2 - CFO 302 CERTIFICATION - MARRIOTT INTERNATIONAL INC /MD/ | mar-q12015xexx312.htm |
| EX-31.1 - CEO 302 CERTIFICATION - MARRIOTT INTERNATIONAL INC /MD/ | mar-q12015xexx311.htm |
Exhibit 12
MARRIOTT INTERNATIONAL, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Three Months Ended | ||||||||
($ in millions, except ratio) | March 31, 2015 | March 31, 2014 | ||||||
Income before income taxes | $ | 307 | $ | 231 | ||||
Income related to equity method investees | (3 | ) | (2 | ) | ||||
304 | 229 | |||||||
Add/(deduct): | ||||||||
Fixed charges | 57 | 52 | ||||||
Interest capitalized | (7 | ) | (7 | ) | ||||
Distributed income of equity method investees | 1 | 1 | ||||||
Earnings available for fixed charges | $ | 355 | $ | 275 | ||||
Fixed charges: | ||||||||
Interest expensed and capitalized (1) | $ | 43 | $ | 37 | ||||
Estimate of interest within rent expense | 14 | 15 | ||||||
Total fixed charges | $ | 57 | $ | 52 | ||||
Ratio of earnings to fixed charges | 6.2 | 5.3 | ||||||
(1) | “Interest expensed and capitalized” includes amortized premiums, discounts, and capitalized expenses related to indebtedness. |
Exhibit 12