EX-12: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Published on November 10, 2008
Exhibit 12
WYNDHAM
WORLDWIDE CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions)
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions)
| Nine Months Ended September 30, | ||||||||
| 2008 | 2007 | |||||||
|
Earnings available to cover fixed charges:
|
||||||||
|
Income before income taxes
|
$ | 457 | $ | 482 | ||||
|
Plus: Fixed charges
|
175 | 151 | ||||||
|
Amortization of capitalized interest
|
16 | 13 | ||||||
|
Less: Capitalized interest
|
15 | 18 | ||||||
|
Earnings available to cover fixed charges
|
$ | 633 | $ | 628 | ||||
|
Fixed charges
(*):
|
||||||||
|
Interest, including amortization of deferred financing costs
|
$ | 152 | $ | 132 | ||||
|
Interest portion of rental payments
|
23 | 19 | ||||||
|
Total fixed charges
|
$ | 175 | $ | 151 | ||||
|
Ratio of earnings to fixed charges
|
3.62x | 4.16x | ||||||
| (*) | Consists of interest expense on all indebtedness (including amortization of deferred financing costs) and the portion of operating lease rental expense that is representative of the interest factor. |
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