Attached files
| file | filename |
|---|---|
| EX-32 - SECTION 906 CERTIFICATION - MARRIOTT INTERNATIONAL INC /MD/ | mar-q32015xexx32.htm |
| EX-31.2 - CFO 302 CERTIFICATION - MARRIOTT INTERNATIONAL INC /MD/ | mar-q32015xexx312.htm |
| EX-31.1 - CEO 302 CERTIFICATION - MARRIOTT INTERNATIONAL INC /MD/ | mar-q32015xexx311.htm |
| 10-Q - 10-Q - MARRIOTT INTERNATIONAL INC /MD/ | mar-q32015x10q.htm |
Exhibit 12
MARRIOTT INTERNATIONAL, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Nine Months Ended | ||||||||
($ in millions, except ratio) | September 30, 2015 | September 30, 2014 | ||||||
Income before income taxes | $ | 971 | $ | 806 | ||||
Income related to equity method investees | (13 | ) | (6 | ) | ||||
958 | 800 | |||||||
Add/(deduct): | ||||||||
Fixed charges | 171 | 159 | ||||||
Interest capitalized | (9 | ) | (25 | ) | ||||
Distributed income of equity method investees | 4 | 4 | ||||||
Earnings available for fixed charges | $ | 1,124 | $ | 938 | ||||
Fixed charges: | ||||||||
Interest expensed and capitalized (1) | $ | 130 | $ | 114 | ||||
Estimate of interest within rent expense | 41 | 45 | ||||||
Total fixed charges | $ | 171 | $ | 159 | ||||
Ratio of earnings to fixed charges | 6.6 | 5.9 | ||||||
(1) | “Interest expensed and capitalized” includes amortized premiums, discounts, and capitalized expenses related to indebtedness. |
Exhibit 12