Marriott 2011 Annual Report

Risk Factors
MD&A
Quantitative and Qualitative Disclosures About Market Risk
Financial Statements
Notes to Financial Statements
Shareholder Return Performance Graph
Quarterly Financial Data
Selected Historical Financial Data
Non-GAAP Financial Measure Reconciliation
Management’s Reports
Reports of Independent Registered Public Accounting Firm

Non-GAAP Financial Measure Reconciliation: 1 2 3

ADJUSTED RESULTS** – UNAUDITED

The reconciliations of our reported results to our adjusted results are as follows:

Financials

** Denotes a non-GAAP financial measure.

1 Earnings per share plus adjustment items may not equal earnings per share as adjusted due to rounding.

2 Adjusted results are presented as if the Timeshare spin-off had occurred on January 2, 2010.