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Legalese | ||
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8th grade Avg
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EXHIBIT 12.1
HOST HOTELS & RESORTS, INC. AND SUBSIDIARIES
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
(in millions, except ratio amounts)
| 2016 |
|
| 2015 |
|
| 2014 |
|
| 2013 |
|
| 2012 |
| ||||||
Income from continuing operations before income taxes |
| $ | 811 |
|
| $ | 574 |
|
| $ | 755 |
|
| $ | 227 |
|
| $ | 21 |
|
Add (deduct): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed charges |
|
| 184 |
|
|
| 258 |
|
|
| 240 |
|
|
| 329 |
|
|
| 420 |
|
Capitalized interest |
|
| (3 | ) |
|
| (5 | ) |
|
| (7 | ) |
|
| (6 | ) |
|
| (6 | ) |
Amortization of capitalized interest |
|
| 7 |
|
|
| 7 |
|
|
| 10 |
|
|
| 6 |
|
|
| 7 |
|
Equity in (earnings) losses related to equity method investees |
|
| (21 | ) |
|
| (76 | ) |
|
| (29 | ) |
|
| 14 |
|
|
| (3 | ) |
Distributions from equity investments |
|
| 29 |
|
|
| 27 |
|
|
| 7 |
|
|
| 6 |
|
|
| 4 |
|
Adjusted earnings |
| $ | 1,007 |
|
| $ | 785 |
|
| $ | 976 |
|
| $ | 576 |
|
| $ | 443 |
|
Fixed charges: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest on indebtedness and amortization of deferred financing costs |
| $ | 154 |
|
| $ | 227 |
|
| $ | 207 |
|
|
| 296 |
|
|
| 365 |
|
Capitalized interest |
|
| 3 |
|
|
| 5 |
|
|
| 7 |
|
|
| 6 |
|
|
| 6 |
|
Portion of rents representative of the interest factor |
|
| 27 |
|
|
| 26 |
|
|
| 26 |
|
|
| 27 |
|
|
| 49 |
|
Total fixed charges |
| $ | 184 |
|
| $ | 258 |
|
| $ | 240 |
|
| $ | 329 |
|
| $ | 420 |
|
Ratio of earnings to fixed charges |
|
| 5.5 |
|
|
| 3.0 |
|
|
| 4.1 |
|
|
| 1.8 |
|
|
| 1.1 |
|