Attached files
| file | filename |
|---|---|
| 10-Q - 10-Q - MARRIOTT INTERNATIONAL INC /MD/ | mar-q32016x10q.htm |
| EX-32 - SECTION 906 CERTIFICATION - MARRIOTT INTERNATIONAL INC /MD/ | mar-q32016xexx32.htm |
| EX-31.2 - CFO 302 CERTIFICATION - MARRIOTT INTERNATIONAL INC /MD/ | mar-q32016xexx312.htm |
| EX-31.1 - CEO 302 CERTIFICATION - MARRIOTT INTERNATIONAL INC /MD/ | mar-q32016xexx311.htm |
| EX-10.1 - EXHIBIT 10.1 - MARRIOTT INTERNATIONAL INC /MD/ | mar-q32016exx101.htm |
Exhibit 12
MARRIOTT INTERNATIONAL, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Nine Months Ended | ||||||||
($ in millions, except ratio) | September 30, 2016 | September 30, 2015 | ||||||
Income before income taxes | $ | 801 | $ | 971 | ||||
Income related to equity method investees | (8 | ) | (13 | ) | ||||
793 | 958 | |||||||
Add/(deduct): | ||||||||
Fixed charges | 200 | 171 | ||||||
Interest capitalized | (1 | ) | (9 | ) | ||||
Distributed income of equity method investees | 7 | 4 | ||||||
Earnings available for fixed charges | $ | 999 | $ | 1,124 | ||||
Fixed charges: | ||||||||
Interest expensed and capitalized (1) | $ | 160 | $ | 130 | ||||
Estimate of interest within rent expense | 40 | 41 | ||||||
Total fixed charges | $ | 200 | $ | 171 | ||||
Ratio of earnings to fixed charges | 5.0 | 6.6 | ||||||
(1) | “Interest expensed and capitalized” includes amortized premiums, discounts, and capitalized expenses related to indebtedness. |
Exhibit 12