Liabilities: Bonds Payable MAD 11-4 Analyze and compare Hilton and Marriott Obj: 4 Hilton Worldwide Holdings, Inc. (HLT) and Marriott International, Inc. (MAR) are two of the largest hotel operators in the world. Selected financial information from recent income statements for both companies follows (in millions): Hilton Marriott Operating income $1,861 $1,368 Interest expense (587) (234) Other income (expense) items (19) 50 Income before income tax expense $1,255 $1, 184 Income tax expense (891) (404) Net income $ 364 $ 780 a. Compute the times interest earned ratio for each company. Round to one decimal place. b. Which company appears to better protect creditor interest? Why? urther TIF 1