Attached files
| file | filename |
|---|---|
| EX-31.2 - CFO 302 CERTIFICATION - MARRIOTT INTERNATIONAL INC /MD/ | mar-q22015xexx312.htm |
| EX-31.1 - CEO 302 CERTIFICATION - MARRIOTT INTERNATIONAL INC /MD/ | mar-q22015xexx311.htm |
| EX-32 - SECTION 906 CERTIFICATION - MARRIOTT INTERNATIONAL INC /MD/ | mar-q22015xexx32.htm |
| 10-Q - 10-Q - MARRIOTT INTERNATIONAL INC /MD/ | mar-q22015x10q.htm |
Exhibit 12
MARRIOTT INTERNATIONAL, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Six Months Ended | ||||||||
($ in millions, except ratio) | June 30, 2015 | June 30, 2014 | ||||||
Income before income taxes | $ | 662 | $ | 516 | ||||
(Income) loss related to equity method investees | (5 | ) | 6 | |||||
657 | 522 | |||||||
Add/(deduct): | ||||||||
Fixed charges | 113 | 105 | ||||||
Interest capitalized | (8 | ) | (15 | ) | ||||
Distributed income of equity method investees | 3 | 2 | ||||||
Earnings available for fixed charges | $ | 765 | $ | 614 | ||||
Fixed charges: | ||||||||
Interest expensed and capitalized (1) | $ | 86 | $ | 75 | ||||
Estimate of interest within rent expense | 27 | 30 | ||||||
Total fixed charges | $ | 113 | $ | 105 | ||||
Ratio of earnings to fixed charges | 6.8 | 5.8 | ||||||
(1) | “Interest expensed and capitalized” includes amortized premiums, discounts, and capitalized expenses related to indebtedness. |
Exhibit 12