Exhibit 12
WYNDHAM DESTINATIONS, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions)

 
Nine Months Ended September 30,
 
2018
 
2017
Earnings available to cover fixed charges:
 
 
 
Income before income taxes
$
272

 
$
262

Less: Income from equity investees
2

 
1

 
270

 
261

Plus: Fixed charges
186

 
167

Amortization of capitalized interest
3

 
4

Less: Capitalized interest
1

 
1

Earnings available to cover fixed charges
$
458

 
$
431

Fixed charges (*):
 
 
 
Interest expense
$
170

 
$
151

Capitalized interest
1

 
1

Interest portion of rental expense
15

 
15

Total fixed charges
$
186

 
$
167

Ratio of earnings to fixed charges
2.46x

 
2.58x

 
(*)  
Consists of interest expense on all indebtedness (including costs related to the amortization of deferred financing costs), capitalized interest and the portion of operating lease rental expense that is representative of the interest factor.

* * *